Do you want a faster way to compare more affordable Volkswagen Touareg insurance in Minneapolis? Did you make the mistake of buying an under-performing, overpriced insurance policy? Don’t feel bad because many consumers are feeling buyer’s remorse and feel like there’s no way out.
It’s shocking but most insurance policyholders have bought insurance from the same company for more than four years, and 38% of drivers have never quoted insurance rates at all. Consumers in Minneapolis could pocket nearly $1,000 a year just by shopping around, but most just don’t grasp the big savings they would realize if they switched.
Due to the fact that there are so many insurance companies to choose from that have cheaper insurance for a Volkswagen Touareg in Minneapolis, it is very difficult to locate the most cost effective company.
It’s a good habit to do rate comparisons occasionally because insurance prices go up and down regularly. Just because you had the best rates on Volkswagen Touareg insurance in Minneapolis at your last renewal you can probably find a lower rate today. You can find a lot of information about Touareg insurance online but you can learn some of the best ways to lower your insurance rates in Minneapolis.
Finding the cheapest car insurance coverage in Minneapolis is not rocket science. Nearly every vehicle owner who needs more affordable car insurance will more than likely be able to save money. But Minnesota consumers must learn how insurance companies sell insurance online and apply this information to your search.
How much does Volkswagen Touareg insurance in Minneapolis, Minnesota cost?
The majority of larger companies make it easy to get price estimates online. The process is fairly simple as you just enter the coverage amounts you desire as detailed in the form. Once you submit the form, their quoting system gets your credit score and driving record and gives you a price quote based on these factors. Quoting online for Volkswagen Touareg insurance in Minneapolis helps simplify price comparisons, and it’s necessary to perform this step in order to find the best rate.
To use this form to compare rates, compare rates from the companies below. If you have a policy now, it’s recommended you complete the form with the coverages just like they are on your policy. This guarantees you will get a fair comparison using the exact same coverages.
The companies shown below are ready to provide price quotes in Minnesota. If you want cheap car insurance in Minneapolis, we recommend you click on several of them to get the most affordable price.
Rates and information analytics
The table displayed below outlines different coverage costs for Volkswagen Touareg models. Being more informed about how insurance prices are calculated can be valuable when making smart choices when choosing a car insurance company.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Touareg 3 Turbo Diesel AWD 4-Dr||$268||$568||$304||$18||$92||$1,250||$104|
|Touareg 3.6 AWD 4-Dr||$268||$568||$304||$18||$92||$1,250||$104|
|Get Your Own Custom Quote Go|
Data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Minnesota minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, multi-vehicle, and claim-free. Rate quotes do not factor in the specific area where the vehicle is garaged which can lower or raise premiums considerably.
Rate comparison of male drivers versus female drivers
The illustration below shows the comparison of Volkswagen Touareg insurance rates for male and female drivers. The data assumes no claims or violations, full coverage, $250 deductibles, drivers are not married, and no additional discounts are factored in.
Rate difference between full and liability-only coverage
The chart below visualizes the comparison of Volkswagen Touareg insurance costs with full coverage and liability only. The price estimates are based on no accidents or driving violations, $100 deductibles, drivers are not married, and no discounts are taken into consideration.
When to drop comprehensive and collision coverage
There isn’t a steadfast formula to stop buying comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the annual cost of coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it could be time to drop full coverage.
For example, let’s assume your Volkswagen Touareg claim settlement value is $3,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $2,000 after you pay the deductible. If you are currently paying more than $200 annually for full coverage, then it might be time to buy liability only.
There are a few cases where dropping full coverage is not financially feasible. If you haven’t satisfied your loan, you are required to maintain full coverage to protect the lienholder’s interest. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should keep full coverage in place.
Insurance in Minnesota serves several purposes
Despite the high cost, buying insurance may be mandatory for several reasons.
- Just about all states have compulsory liability insurance requirements which means state laws require a specific minimum amount of liability insurance coverage if you want to drive legally. In Minnesota these limits are 30/60/10 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you have a loan on your vehicle, more than likely the lender will make it mandatory that you have physical damage coverage to ensure they get paid if you total the vehicle. If you cancel or allow the policy to lapse, the bank may buy a policy for your Volkswagen at a much higher premium rate and require you to pay the higher premium.
- Insurance safeguards not only your Volkswagen but also your financial assets. It also can pay for many types of medical costs for not only you but also any passengers injured in an accident. Liability insurance also covers legal expenses if you cause an accident and are sued. If your Volkswagen gets damaged, your insurance policy will pay to restore your vehicle to like-new condition.
The benefits of having insurance definitely exceed the cost, especially for larger claims. Today the average American driver is overpaying over $869 every year so you should quote rates at every renewal to ensure rates are inline.
Cut Insurance Costs with These Tips
The best way to find cheaper insurance is to take a look at the rating factors that aid in calculating your policy premiums. When consumers understand what positively or negatively impacts your premiums, this enables you to make decisions that may reward you with much lower annual insurance costs. Many different elements are part of the calculation when you get a price on insurance. Some of the criteria are obvious like an MVR report, but other factors are less apparent such as whether you are married or your vehicle rating.
The factors shown below are some of the factors utilized by car insurance companies to help set premiums.
File insurance claims and pay more – If you are a frequent claim filer, you can look forward to either a policy non-renewal or much higher rates. Companies in Minnesota provide discounts to policyholders that do not abuse their auto insurance. Your car insurance is intended for claims that you cannot pay yourself.
GPS tracking and theft deterrents lowers insurance rates – Buying a car with a theft deterrent system can help bring down rates. Anti-theft features like GM’s OnStar, tamper alarm systems and vehicle immobilizers all hinder auto theft and help lower rates.
Cautious drivers pay less – Even one moving violation can bump up the cost forty percent or more. Drivers who don’t get tickets pay lower auto insurance prices as compared to those with violations. Drivers who get serious citations like DUI, reckless driving or excessive speeding might be required by their state to prove financial responsibility with their state in order to prevent a license revocation.
The example below demonstrates how citations and accidents increase Volkswagen Touareg insurance costs for each different age group. The rates are based on a single male driver, comprehensive and collision coverage, $500 deductibles, and no additional discounts are factored in.
Discounts for married drivers – Having a significant other may earn you lower rates on your insurance policy. It demonstrates that you tend to be more mature than a single person and statistics prove being married results in fewer claims.
More traffic equals higher costs – Living in areas with lower population is a positive aspect when trying to find low car insurance rates. Less people living in that area means less chance of accidents as well as less vandalism and auto theft. City drivers regularly have more auto accidents and more severe claims. More time commuting translates into higher accident risk.
Higher deductibles are cheaper – The deductibles you choose define how much you are required to spend out-of-pocket if you file a covered claim. Physical damage insurance, otherwise known as comp (or other than collision) and collision, is used to repair damage to your car. A few examples of covered claims are rear-ending another vehicle, collision with a deer, and damage caused by road hazards. The more money the insured is willing to pay, the lower your rates will be.
Excellent credit means lower costs – An insured’s credit history can be a huge factor in your rate calculation. People with high credit ratings tend to be more responsible as compared to drivers with lower credit scores. Therefore, if your credit rating could use some work, you could potentially save money when insuring your Volkswagen Touareg if you improve your credit rating.
Volkswagen Touareg statistical loss data – Companies factor in insurance loss information as a way to help calculate a profitable premium price. Models that are shown to have higher loss trends will cost more for specific coverages. The information below illustrates the insurance loss data for Volkswagen Touareg vehicles.
For each policy coverage type, the claim probability for all vehicles as a whole is equal to 100. Values that are below 100 suggest a better than average loss history, while values that are 100 or greater indicate more frequent losses or an increased likelihood of larger losses.
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Volkswagen Touareg 4dr 4WD||131||115||133||56||65||87|
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Get affordable Volkswagen Touareg insurance in Minneapolis with discounts
Car insurance companies don’t necessarily list their entire list of discounts very clearly, so the following is a list of a few of the more common as well as some of the hidden credits that may apply to you.
- Organization Discounts – Belonging to a civic or occupational organization in Minneapolis could trigger savings on your policy.
- Discounts for Seat Belt Usage – Drivers who require all vehicle occupants to use a seat belt can save up to 15% off PIP or medical payments premium.
- Savings for New Vehicles – Adding a new car to your policy can cost up to 25% less since new model year vehicles are generally safer.
- Discounts for Multiple Vehicles – Buying coverage for multiple cars or trucks with the same company can get a discount on all vehicles.
- Passive Restraint Discount – Factory air bags or automatic seat belts may get savings up to 30%.
- Defensive Driving Course – Taking time to complete a course teaching driver safety skills could cut 5% off your bill if you qualify.
- Paperless Signup – Some car insurance companies will give a small break for completing your application digitally online.
As is typical with insurance, most credits do not apply to all coverage premiums. Most only cut the cost of specific coverages such as comprehensive or collision. Despite the fact that it seems like you can get free auto insurance, you aren’t that lucky.
The diagram below visualizes the comparison of Volkswagen Touareg auto insurance rates with and without some available policy discounts. The prices are based on a male driver, no violations or accidents, Minnesota state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, marriage, homeowner, claim-free, multi-car, and multi-policy discounts applied.
A list of companies and some of the premium reductions they offer are:
- State Farm may offer discounts for accident-free, defensive driving training, student away at school, multiple policy, and good student.
- Nationwide may have discounts that include easy pay, business or organization, Farm Bureau membership, family plan, anti-theft, and accident-free.
- GEICO includes discounts for anti-lock brakes, military active duty, membership and employees, good student, and anti-theft.
- AAA policyholders can earn discounts including AAA membership discount, multi-car, pay-in-full, education and occupation, multi-policy, good driver, and good student.
- 21st Century may include discounts for anti-lock brakes, air bags, student driver, defensive driver, driver training, automatic seat belts, and theft prevention.
- The Hartford offers discounts including defensive driver, bundle, anti-theft, driver training, and vehicle fuel type.
When getting a coverage quote, ask every insurance company how many discounts you can get. Some discounts listed above may not apply in Minneapolis.
Local Minneapolis insurance agencies
Some consumers would rather buy from a licensed agent and that can be a great decision An additional benefit of getting online price quotes is that you can find cheap auto insurance quotes and still have an agent to talk to.
By using this simple form, the coverage information is emailed to insurance agents in Minneapolis who want to provide quotes for your insurance coverage. It simplifies rate comparisons since you won’t have to leave your house as quotes are delivered to your email. You can find lower rates AND an agent nearby. If for some reason you want to compare rates from a specific insurance company, you just need to search and find their rate quote page and give them your coverage information.
Selecting an company requires more thought than just a cheap price. Some important questions to ask are:
- How much experience to they have in personal lines coverages?
- How are they compensated?
- Are they primarily personal or commercial lines agents in Minneapolis?
- How much will you save each year by using a higher deductible?
- What is their Better Business Bureau rating?
When narrowing the list to find a good Minneapolis insurance agent, it helps to know the two types of insurance agents and how they differ in how they can insure your vehicles. Agents in Minneapolis are classified as either independent or exclusive.
Exclusive Auto Insurance Agencies
These agents generally can only insure with one company and some examples include Allstate and State Farm. Exclusive agents are unable to provide rate quotes from other companies so if the price isn’t competitive there isn’t much they can do. These agents are highly trained on their products and sales techniques which helps overcome the inability to quote other rates.
The following is a short list of exclusive agencies in Minneapolis who may provide you with comparison quotes.
Independent Agencies or Brokers
Independent agencies are not restricted to one company and that is an advantage because they can write policies with many different companies and find the cheapest auto insurance rates. If premiums increase, they simply move the coverage in-house which requires no work on your part. When comparing rate quotes, it’s recommended you check rates from several independent insurance agents in order to compare the most rates.
Below are Minneapolis independent agents who can help you get price quote information.
A Act One Auto Insurance Agency
2925 Glenhurst Ave – Minneapolis, MN 55416 – (612) 722-8010 – View Map
True Insurance Agency and Financial Services – Minneapolis Home and Auto Insurance
4708 Excelsior Blvd – St Louis Park, MN 55416 – (952) 388-2006 – View Map
Cheap insurance rates are possible
In this article, we covered a lot of tips how to save on Volkswagen Touareg insurance in Minneapolis. It’s most important to understand that the more you quote Minneapolis car insurance, the better your chances of lowering your car insurance rates. Drivers may even discover the biggest savings come from some of the smallest insurance companies. These smaller insurers can often insure niche markets at a lower cost as compared to the big name companies such as Allstate and Progressive.
Cheaper insurance in Minneapolis can be sourced online and with local Minneapolis insurance agents, and you should compare price quotes from both to have the best chance of lowering rates. There are still a few companies who do not offer the ability to get quotes online and most of the time these small, regional companies provide coverage only through independent insurance agents.
Steps to buying lower priced Volkswagen Touareg insurance in Minneapolis
The easiest way to get budget car insurance rates in Minneapolis is to do a yearly price comparison from companies in Minnesota.
First, read and learn about how your policy works and the things you can control to keep rates down. Many factors that drive up the price like traffic citations, accidents, and poor credit rating can be rectified by making lifestyle changes or driving safer.
Second, quote rates from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can give quotes from one company like Progressive or Allstate, while agents who are independent can give you price quotes from multiple sources. Begin your rate comparison
Third, compare the new rates to your current policy premium to determine if switching companies saves money. If you find a lower rate quote, make sure there is no lapse between the expiration of your current policy and the new one.
Fourth, tell your current company to cancel your current coverage. Submit the signed application along with the required initial payment for your new policy. Don’t forget to safely store the certificate of insurance in your vehicle.
A good tip to remember is to use the same liability limits and deductibles on every price quote and to quote with as many companies as feasibly possible. This guarantees an accurate price comparison and and a good selection of different prices.
Additional learning opportunities
- Teen Driving Statistics (iihs.org)
- What Auto Insurance is Cheapest for Drivers with a DUI in Minneapolis? (FAQ)
- Who Has the Cheapest Car Insurance for Infrequent Drivers in Minneapolis? (FAQ)
- What Car Insurance is Cheapest for a Toyota 4Runner in Minneapolis? (FAQ)
- Child Safety FAQ (iihs.org)
- Think You’re a Safe Driver? (State Farm)