Best Toyota 4Runner Insurance in Minneapolis

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Regrettably, 70% of consumers have been with the same company for a minimum of four years, and just under half have never compared quotes from other companies. Minnesota consumers could save about $1,039 a year, but they don't understand how simple it is to compare rates.

Insurance rates Toyota 4Runner in MinneapolisIt takes a little time, but the best way to save money on auto insurance rates in Minneapolis is to compare quotes once a year from insurers in Minnesota.

  • First, get a basic knowledge of what is in your policy and the measures you can take to drop your rates. Many risk factors that cause high rates such as your driving record and a negative credit rating can be rectified by making minor changes to your lifestyle. Read the full article for information to help keep prices low and earn a bigger discount.
  • Second, get rate quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can provide rates from a single company like GEICO or Farmers Insurance, while independent agencies can quote prices for a wide range of insurance providers. Compare rates now
  • Third, compare the new rates to your existing coverage to see if you can save by switching companies. If you find a better price, make sure coverage is continuous and does not lapse.

The key thing to remember is to make sure you enter the same amount of coverage on each quote and and to get quotes from all possible companies. Doing this ensures a fair price comparison and a complete price analysis.

Finding a lower price on Toyota 4Runner insurance is a great way to save money. Consumers just need to spend a little time comparing rate quotes to find out which insurance company has low cost Minneapolis auto insurance quotes.

It's so fast and easy to compare rate quotes online that it makes it obsolete to spend time driving to all the different Minneapolis insurance agencies. The ability to quote Toyota 4Runner insurance online can eliminate the need for a local agent unless you require the peace of mind that only an agent can give. It is possible to obtain prices from the web but buy the policy through an agent.

The car insurance companies shown below can provide comparison quotes in Minneapolis, MN. In order to find the best car insurance in Minneapolis, we recommend you click on several of them to get the most affordable price.

These discounts can lower your insurance rates

Insurance is not an enjoyable expense, but companies offer discounts that can drop the cost substantially. Many of these discounts will be applied automatically when you quote, but some need to be manually applied in order for you to get them.Cheaper insurance with discounts

  • Defensive Driver Discounts - Taking a class that teaches defensive driving techniques could earn you a small percentage discount and make you a better driver.
  • Senior Citizens - If you're over the age of 55, you can possibly qualify for a discount up to 10%.
  • Discounts for New Vehicles - Buying a new car instead of a used 4Runner can be considerably cheaper due to better safety requirements for newer models.
  • Distant Student Discount - College-age children who are enrolled in a college that is more than 100 miles from Minneapolis and do not have a car could qualify for this discount.
  • Safe Driver Discounts - Insureds who avoid accidents can save up to 40% or more on their Minneapolis auto insurance quote than drivers with accidents.
  • Clubs and Organizations - Affiliation with a professional or civic organization is a good way to get lower rates on insurance.
  • Discount for Low Mileage - Maintaining low annual mileage could be rewarded with cheaper premium rates.
  • No Claim Discounts - Drivers with accident-free driving histories have much lower rates as opposed to drivers with a long claim history.

It's important to understand that many deductions do not apply to the overall cost of the policy. Most cut specific coverage prices like physical damage coverage or medical payments. So even though they make it sound like all those discounts means the company will pay you, company stockholders wouldn't be very happy.

The illustration below visualizes the comparison of Toyota 4Runner auto insurance rates with and without discounts applied to the premium. The costs are based on a male driver, no claims or violations, Minnesota state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, safe-driver, multi-policy, marriage, and homeowner discounts applied.

To view insurers with discount rates in Minnesota, click here.

Toyota 4Runner insurance rate analysis

The coverage table below outlines estimates of insurance costs for Toyota 4Runner models. Learning how rate quotes are calculated can help you make smart choices when comparing insurance quotes.

Toyota 4Runner Insurance Rates in Minneapolis, MN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
4Runner Sport 2WD $272 $390 $326 $20 $98 $1,106 $92
4Runner SR/5 2WD $272 $474 $326 $20 $98 $1,190 $99
4Runner Sport 4WD $272 $474 $326 $20 $98 $1,190 $99
4Runner SR/5 4WD $272 $474 $326 $20 $98 $1,190 $99
4Runner Trail Edition 4WD $302 $560 $326 $20 $98 $1,306 $109
4Runner Limited 2WD $302 $560 $326 $20 $98 $1,306 $109
4Runner Limited 4WD $302 $560 $326 $20 $98 $1,306 $109
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Above prices assume single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Minnesota minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, claim-free, and homeowner. Table data does not factor in vehicle garaging location which can increase or decrease auto insurance rates substantially.

Comparison of policy deductibles

One common question asked by Minneapolis drivers is how high should your deductibles be. The rates shown below approximate how much more you'll pay when you choose different coverage deductibles. The first data table uses a $250 deductible for comp and collision and the second set of rates uses a $500 deductible.

Toyota 4Runner insurance premium estimates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
4Runner Sport 2WD $276 $340 $270 $16 $80 $1,007 $84
4Runner SR/5 2WD $276 $414 $270 $16 $80 $1,081 $90
4Runner Sport 4WD $276 $414 $270 $16 $80 $1,081 $90
4Runner SR/5 4WD $276 $414 $270 $16 $80 $1,081 $90
4Runner Trail Edition 4WD $308 $486 $270 $16 $80 $1,185 $99
4Runner Limited 2WD $308 $486 $270 $16 $80 $1,185 $99
4Runner Limited 4WD $308 $486 $270 $16 $80 $1,185 $99
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Toyota 4Runner insurance premium estimates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
4Runner Sport 2WD $224 $274 $270 $16 $80 $864 $72
4Runner SR/5 2WD $224 $334 $270 $16 $80 $924 $77
4Runner Sport 4WD $224 $334 $270 $16 $80 $924 $77
4Runner SR/5 4WD $224 $334 $270 $16 $80 $924 $77
4Runner Trail Edition 4WD $250 $392 $270 $16 $80 $1,008 $84
4Runner Limited 2WD $250 $392 $270 $16 $80 $1,008 $84
4Runner Limited 4WD $250 $392 $270 $16 $80 $1,008 $84
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Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Minnesota minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Estimates do not factor in garaging location in Minneapolis which can decrease or increase premiums noticeably.

Using the premium rates above, we can conclude that using a $250 deductible could cost the average driver approximately $14 more each month or $168 a year across all Toyota 4Runner models than opting for the higher $500 deductible. Since you would pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you usually have at least 18 months between claim filings, you would save more money if you choose a higher deductible. The table below shows an example of how you can perform this determination yourself.

Average monthly premium for $250 deductibles: $93
Average monthly premium for $500 deductibles (subtract): - $79
Monthly savings from raising deductible: $14
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $14
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 18 months

One important issue to know is that increasing deductibles to save money means you will have to cover more of the damage yourself when you file a claim. That will require some extra funds in the event you have to pay the deductible to have repairs made.

The example below demonstrates how deductible levels and can raise or lower Toyota 4Runner premium costs for each age group. The information is based on a single male driver, comp and collision included, and no other discounts are factored in.

Cost of full coverage in Minneapolis

The example below shows the comparison of Toyota 4Runner car insurance costs when comparing full coverage to state minimum liability only. The rates are based on no violations or accidents, $1,000 deductibles, drivers are not married, and no other discounts are factored in.

When to buy liability coverage only

There is no specific rule for phasing out physical damage coverage on your policy, but there is a general guideline you can use. If the annual cost of having full coverage is about 10% or more of the vehicle's replacement cost less your deductible, the it may be a good time to stop paying for full coverage.

For example, let's say your Toyota 4Runner claim settlement value is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most you would receive is $5,000 after paying the physical damage deductible. If you are paying more than $500 a year for full coverage, the it may be a good time to stop paying for full coverage.

There are a few cases where buying only liability insurance is not financially feasible. If you still have a lienholder on your title, you have to keep full coverage to protect the lienholder's interest in the vehicle. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should not remove full coverage.

Toyota 4Runner Insurance Rate Factors

Lots of factors are part of the equation when you quote your car insurance policy. Some of the criteria are obvious like an MVR report, although others are not as apparent such as your marital status or how financially stable you are. Part of the auto insurance buying process is learning the different types of things that go into determining the level of your policy premiums. If you understand what positively or negatively impacts your premiums, this allows you to make good choices that can help you get lower rates.

  • More traffic equals higher premiums - Residing in small towns and rural areas is a positive aspect when it comes to auto insurance. Less people living in that area means reduced accidents and also fewer theft and vandalism claims. People who live in big cities regularly have more auto accidents and higher rates of accident claims. More time behind the wheel means higher likelihood of an accident.
  • Age of drivers - Youthful drivers in Minnesota are proven to be easily distracted when driving so they pay higher auto insurance rates. More mature drivers have been proven to be more responsible, cost insurance companies less in claims, and usually have better credit.

    The next chart uses these variables: single driver, full coverage with $500 deductibles, and no discounts or violations.

  • Lower premiums with GPS tracking and theft deterrents - Choosing to buy a car with an alarm system can save you some money. Theft prevention features such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all help stop car theft and help bring rates down.
  • Vehicles with better crash test results cost less to insure - Vehicles that have high safety ratings cost less to insure. The safest vehicles have better occupant injury protection and any reduction in injury severity means less money paid by your insurance company and cheaper rates on your policy.
  • Getting married pays dividends - Getting married may earn you lower rates on your auto insurance policy. It may mean you are more mature and insurance companies reward insureds because married drivers get in fewer accidents.
  • Toyota 4Runner insurance claim data - Insurers factor in historical loss data when they calculate premium costs for each model. Vehicles that the data shows to have higher claim amounts or frequency will have higher rates. The table shown below demonstrates the actual insurance loss data for Toyota 4Runner vehicles.

    For each coverage category, the claim amount for all vehicles, as an average, is a value of 100. Values below 100 are indicative of better than average losses, while values that are 100 or greater show a trend for more claims or a tendency for claims to be larger.

    Insurance Loss Ratings for Toyota 4Runner Vehicles
    Specific Toyota Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Toyota 4Runner 4dr 2WD 75 92 83 76 66 75
    Toyota 4Runner 4dr 4WD 78 88 110 67 59 74
    BETTER
    AVERAGE
    WORSE

    Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years