Affordable Insurance for a Volkswagen Beetle in Minneapolis

It’s safe to conclude that car insurance companies don’t want you to look for a cheaper policy. Insureds who compare other prices will presumably buy a different policy because they stand a good chance of finding a policy with more affordable rates. A study showed that consumers who routinely compared quotes saved approximately $865 annually as compared to drivers who never compared prices.

If finding the best price on insurance is why you’re here, then learning a little about how to find companies and compare insurance premiums can save time and make the process easier.

Discount Volkswagen Beetle insuranceTo save the most money, the best way to find the cheapest price for Volkswagen Beetle insurance in Minneapolis is to start comparing prices yearly from insurance carriers in Minnesota. This can be done by following these guidelines.

First, spend a few minutes and learn about the coverage provided by your policy and the changes you can make to prevent high rates. Many things that are responsible for high rates like traffic citations and a not-so-good credit history can be eliminated by making minor driving habit or lifestyle changes. This article gives instructions to help reduce premium rates and find additional discounts you may qualify for.

Second, obtain price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only quote rates from one company like GEICO or State Farm, while agents who are independent can quote prices from many different companies. Compare rates now

Third, compare the quotes to your current policy and see if you can save money. If you can save money, make sure there is no lapse between the expiration of your current policy and the new one.

Fourth, provide notification to your current agent or company of your decision to cancel your current policy and submit a down payment along with a completed application to the new company. As soon as coverage is bound, put the certificate of insurance in an accessible location in your vehicle.

One tip to remember is to make sure you enter similar deductibles and liability limits on every quote and and to get price quotes from every insurance company. Doing this provides a level playing field and the best rate selection.

Finding the cheapest coverage in Minneapolis is quite easy. Virtually every driver who compares rate quotes for car insurance stands a good chance to find a lower price. But Minnesota vehicle owners benefit from understanding the way companies set your policy premium and use it to your advantage.

Cheap Minneapolis Volkswagen Beetle insurance rate quotes online

The are a couple different ways of comparing rates from many different Minnesota insurance companies. The fastest way to comparison shop involves getting comparison quotes online.

Comparing quotes online is fast and free, and it replaces the need to waste gas driving to different Minneapolis agent offices. Quoting and buying Volkswagen Beetle insurance online makes this process obsolete unless you prefer the professional guidance only provided by licensed Minneapolis agents. It is possible with some companies price shop online but have your policy serviced through an agent.

When comparing auto insurance rates, know that quoting more helps improve the odds of finding more affordable insurance. Not every company provides online Minneapolis Beetle insurance quotes, so you also need to get quotes from them, too.

The following companies have been selected to offer price comparisons in Minneapolis, MN. In order to find the best cheap car insurance in MN, it’s highly recommended you visit several of them to get the most affordable price.

Volkswagen Beetle coverage statistics

The information below showcases different prices for Volkswagen Beetle models. Learning as much as possible about how policy premiums are determined can help customers make decisions when shopping your coverage around.

Volkswagen Beetle Insurance Rates in Minneapolis, MN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Beetle S 2-Dr Hatchback $186 $420 $258 $16 $78 $958 $80
Beetle 2-Dr Convertible $240 $494 $200 $12 $60 $1,006 $84
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Price data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Minnesota minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, multi-vehicle, and homeowner. Rates do not factor in Minneapolis location which can affect premium rates considerably.

Deductible analysis

The hardest decision when buying coverage is where to set your physical damage deductibles. The following tables can help you understand the cost difference when you buy lower versus higher comp and collision deductibles. The first set of rates uses a $100 physical damage deductible and the second rate chart uses a $1,000 deductible.

Volkswagen Beetle insurance with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Beetle S 2-Dr Hatchback $238 $492 $270 $16 $80 $1,121 $93
Beetle 2-Dr Convertible $308 $580 $210 $12 $62 $1,197 $100
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Volkswagen Beetle insurance with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Beetle S 2-Dr Hatchback $132 $260 $270 $16 $80 $758 $63
Beetle 2-Dr Convertible $170 $306 $210 $12 $62 $760 $63
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Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Minnesota minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Table data does not factor in specific location which can change auto insurance rates noticeably.

Based on this data, we can arrive at the conclusion that using a $100 deductible will cost you approximately $34 more each month or $408 annually across all Volkswagen Beetle models than choosing the higher $1,000 deductible. Due to the fact that you would have to pay $900 more if you turn in a claim with a $1,000 deductible as compared to a $100 deductible, if you average more than 26 months between claim filings, you would come out ahead if you choose the higher deductible.

How to calculate if higher deductibles make sense

Average monthly premium for $100 deductibles: $97
Average monthly premium for $1,000 deductibles (subtract): – $63
Monthly savings from raising deductible: $34
Difference between deductibles ($1,000 – $100): $900
Divide difference by monthly savings: $900 / $34
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 26 months

One important issue to know is that a higher deductible means you will have to cover more of the damage yourself when you have a physical damage claim. It will be required that you have some extra funds in order to pay the deductible.

The information below illustrates how your deductible choice and can increase or decrease Volkswagen Beetle insurance costs for each different age category. The rate quotes are based on a married female driver, comp and collision included, and no other discounts are factored in.

Auto insurance premiums based on gender

The information below illustrates the comparison of Volkswagen Beetle insurance costs for male and female drivers. The information is based on no claims or driving citations, comprehensive and collision coverage, $100 deductibles, single marital status, and no discounts are applied to the premium.

Cost comparison with and without full coverage

The illustration below compares Volkswagen Beetle car insurance costs when comparing full coverage to state minimum liability only. The prices are based on no violations or claims, $250 deductibles, drivers are not married, and no discounts are applied to the premium.

Guidelines for dropping full coverage

There is no exact formula of when to exclude physical damage coverage, but there is a guideline you can consider. If the yearly cost for physical damage coverage is more than 10% of the settlement you would receive from your company, then you may need to consider dropping full coverage.

For example, let’s say your Volkswagen Beetle replacement cost is $5,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would get paid by your company is $4,000 after you pay the deductible. If premiums are more than $400 annually for your policy with full coverage, then you may want to consider only buying liability coverage.

There are some scenarios where eliminating full coverage is not financially feasible. If you haven’t paid off your loan, you have to maintain full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should keep full coverage.

Why You Might Pay Inflated Rates in Minneapolis

Lots of factors are taken into consideration when quoting car insurance. Some are pretty understandable like a motor vehicle report, but other criteria are less apparent like your continuous coverage or how financially stable you are.

The list below includes some of the factors that factor into prices.

Prevent theft and reduce premiums – Owning a car that has a built-in theft deterrent system can get you a discount on your insurance. Systems that thwart thieves like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can help prevent your car from being stolen.

Claims cost money – Auto insurance companies in Minnesota provide the best rates to policyholders that do not abuse their auto insurance. If you are a frequent claim filer, you can definitely plan on either policy cancellation or increased premiums. Insurance coverage is intended to be relied upon for the bigger claims that can’t be paid out-of-pocket.

More performance means more cost – The type of vehicle you are insuring makes a big difference in your premium level. The cheapest insurance rates will normally be found when insuring low performance passenger cars, but there are many factors that impact the final cost.

The data below uses these assumptions: single male driver age 40, full coverage with $1000 deductibles, and no discounts or violations. The chart compares Volkswagen Beetle insurance premiums compared to other vehicles that have different performance risks.

Save money with excellent credit – Having a good credit rating can be an important factor in your rate calculation. Drivers with excellent credit tend to be better risks to insure than drivers who have lower credit ratings. So if your credit rating is not that good, you could save money insuring your Volkswagen Beetle by improving your rating.

Demanding vocation may mean higher premiums – Did you know that where you work can have an impact on rates? Occupational choices like lawyers, police officers, and miners generally pay higher rates than average in part from intense work-related stress and extremely grueling work hours. On the other hand, occupations like scientists, historians and retirees generally pay rates lower than average.

Proper usage rating affects prices – The more you drive annually the higher your rate. Many insurance companies charge to insure your cars based upon how much you drive. Vehicles not used for work or commuting can be on a lower rate level than those used for commuting. It’s a smart idea to ensure your policy properly reflects the correct usage. A policy that improperly rates your Beetle is throwing money out the window.

Volkswagen Beetle insurance loss statistics – Insurers analyze the history of losses when they calculate premium rates for each model. Models that are shown to have increased claim numbers or amounts will have a higher cost to insure.

The next table shows the insurance loss data for Volkswagen Beetle vehicles. For each insurance policy coverage type, the claim amount for all vehicles, regardless of manufacturer or model, equals 100. Numbers below 100 mean the vehicle has better than average losses, while values that are above 100 point to more frequent losses or larger claims.

Volkswagen Beetle Insurance Claim Statistics
Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Volkswagen Beetle 101 93 101 85 95 101
Volkswagen Beetle Convertible 85 78 95 76 89 79

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

Insuring your Volkswagen Beetle just makes sense

Despite the high cost of buying insurance for a Volkswagen Beetle in Minneapolis, paying for auto insurance is required in Minnesota but it also protects you in many ways.

The benefits of insuring your car are without a doubt worth the cost, particularly when you have a large claim. Today the average American driver is overpaying over $850 per year so smart consumers compare quotes at every renewal to ensure rates are inline.