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Are you in need of cheap auto insurance in Bloomington, MN? From AutoInsuranceEZ.com, you’ll find the most affordable insurance premiums locally. To get free car insurance estimates available from the top providers available today, look for the quote box in this article and type in your local zip code.

Bloomington is nestled right next to where the Mississippi and Minnesota rivers converge. It is also conveniently located near the Minnesota Valley National Wildlife Refuge. What started out as a residential community just outside of Minneapolis has now flourished into its own thriving city. It is also rated highly on several lists of best places to find a job or start a business.

  • Fun fact: to grandmother’s house we go…because Bloomington is #35 on the list of “Top 100 cities with oldest residents (pop. 50,000+)”

Auto Insurance Coverage Requirements in Minnesota

Driving legally in Bloomington requires:

Coverage Requirements Most Common
Bodily Injury Liability 30,000/60,000 100,000/300,000
Property Damage Liability 10,000 100,000
Uninsured Motorist Bodily Injury 25,000/50,000 100,000/300,000
Personal Injury Protection 40,000 40,000
Collision Not required 500 deductible
Comprehensive Not required 0 deductible

Unlike most states, Minnesota also mandates that every driver have a minimum level of Uninsured Motorist and Medical Payments coverage on their policy. This can help protect you from some very unfortunate situations.

Did you know that the average Minnesota driver is paying around $113 per month just to stay insured? Well, the good news is that Bloomington drivers can save a lot of money compared to other areas – you could get insured for $47/mo* or less!

Average Monthly Auto Insurance Premiums Legend: Bloomington Allstate Farmers State Farm Allied Nationwide 5 10 15 20 25 30 35 40 45 50 55 $46 $32 $57 $48 $50

 

Farmers, Allied, and Allstate are offering some of the lowest quotes in Bloomington right now. But if you’re thinking about switching, consider all elements of a company first. After all, you don’t want to switch to an inferior company just to save a few dollars each month.

Auto insurance carriers contemplate different variables when establishing insurance quotes, which include marital status, where you live, type of vehicle owned, years of driving experience, and how often you use your vehicle for business. Also, keep in mind that your premiums will differ from business to business. To make sure that you’re still being charged an affordable rate, review cheap Bloomington auto insurance prices via the internet.

Major Car Insurance Factors in Bloomington

There is a number of various things that might factor into the rate quotes you get. Even though many of these details aren’t actually something you can do something about, some of them are variables which you can change for the better. Here are some components which can change your car insurance premium:

  • Your Zip Code

The spot where you park your vehicle nightly will have a major influence on your car insurance rate. Generally, auto insurance cost less in rural areas because a lower number of cars means a reduced chance that you’ll get in a collision with some other vehicle. The population of Bloomington is 83,319 and the average household earnings are $66,688 annually.

Auto Insurance by Zip Code Legend: Minneapolis Bloomington Duluth Rochester Saint Paul Allstate Farmers State Farm Allied Nationwide 8 16 24 32 40 48 56 64 72 80 $76 $46 $42 $38 $74 $41 $32 $33 $28 $47 $77 $57 $40 $40 $77 $67 $48 $41 $38 $72 $79 $50 $43 $37 $83

 

  • Automotive Accidents

Considering the population, serious accidents in Bloomington are a little high. This means that your provider could be charging you extra for living in your particular zip code. But ask your agent about any Safe Driver discounts you might qualify for.

Fatal Accidents in Bloomington, MN Legend: Bloomington Fatal accident count Vehicles involved in fatal crashes Fatal crashes involving drunk persons Fatalities Persons involved in fatal crashes Pedestrians involved in fatal accidents 5 10 15 5 16 2 5 18

 

  • Auto Thefts in Bloomington

Dwelling in a major city (Particularly one which has a high rate of crime) will increase your chance of becoming a victim of auto theft. If your overall location has substantial rates of theft and claims, you are likely to pay much more for your auto insurance to be able to offset these expenses. The actual total amount of thieved automobiles in Bloomington was as high as 100 in 2013, which reflects a recent spike compared to other years. If this trend continues, you might want to consider purchasing Comprehensive coverage (or lowering your deductible if you already have it).

Basic vs. Comprehensive Auto Policy Legend: Basic Coverage Comprehensive Coverage Allstate Farmers State Farm Allied Nationwide 12 24 36 48 60 72 84 96 108 120 $46 $120 $32 $68 $57 $110 $48 $89 $50 $91

 

  • Your Credit Score

Most people don’t think about their credit score that often – much to their detriment. Many things in life, car insurance especially, become much more expensive for those with poor credit. Take a look at the chart below for details.

Auto Insurance by Credit Score Legend: Excellent Credit Poor Credit Allstate Farmers State Farm Allied Nationwide 10 20 30 40 50 60 70 80 90 100 110 $38 $85 $33 $118 $47 $106 $41 $73 $52 $111

 

  • Your Age

Young drivers are unfortunately difficult to insure. Their lack of experience behind the wheel often leads to serious accidents, so insurance companies charge more in anticipation of covering the expensive claims they might file in their first few years of driving.

Auto Policy Age Comparison Legend: 34 Year Old 17 Year Old Allstate Farmers State Farm Allied Nationwide 30 60 90 120 150 180 210 240 270 300 $46 $111 $32 $323 $57 $175 $48 $159 $50 $215

 

  • Your Driving Record

A speeding ticket here or a fender-bender there can really drive up your monthly rates. But to help relatively safe drivers save some money (and to drum up business), some insurance providers are offering “Accident Forgiveness” discounts to certain qualified drivers.

Driving Violations Legend: Perfect Record Minor Speeding Ticket DUI/Reckless Driving Major At-Fault Accident Allstate Farmers State Farm Allied Nationwide 20 40 60 80 100 120 140 160 180 200 220 $46 $57 $72 $73 $32 $42 $50 $48 $57 $63 $63 $69 $48 $77 $177 $100 $50 $89 $222 $118

 

  • Your Vehicle

Luxury vehicles require a much greater depth and breadth of coverage than, for example, a used sedan. Sure, you could try and insure a Porsche with state minimum coverage; but if anything happens to your vehicle, your provider probably won’t pay out enough on your claim to replace the vehicle.

Car Insurance by Make/Model Legend: 2015 Honda Accord 2012 Porsche Boxster Spyder Allstate Farmers State Farm Allied Nationwide 15 30 45 60 75 90 105 120 135 150 $46 $151 $32 $86 $57 $124 $48 $80 $50 $82

 

Minor Car Insurance Factors in Bloomington

Don’t worry, there are other factors you can adjust to change your monthly premium:

  • Your Marital Status

Married couples have an advantage when it comes to saving money on their automobile insurance rates. They can easily bundle their policies together and save a great deal of money. And automotive insurance aren’t the only policies you can bundle together.

  • Your Gender

After gathering years of statistical data on driving habits, studies show that there really isn’t much of a difference between male and female drivers. Many providers don’t even evaluate premiums based on gender anymore.

  • Your Driving Distance to Work

The typical commute for Bloomington residents might take around 18-24 minutes, depending on what part of town you live in. Additionally, a good 70% of all drivers prefer to take use their own automobile to get to the office on a regular basis, while between 4-22% agree to carpool with a coworker.

You’d think that driving fewer miles each year would be a great way to lower your monthly premiums. But in reality, you’d have to drastically cut your mileage by thousands each year just to see a 2-3% discount. And vehicles registered for business use are 11% more expensive than personal vehicles.

  • Your Coverage and Deductibles

Want a quick and simple way to lower your monthly payments? Then think about raising your deductible. If you don’t anticipate filing a claim any time soon, it can be a great way to save money. Just make sure you do have the required cash if the worst happens.

  • Education in Bloomington, MN

More than one quarter of all Bloomington residents already have a bachelor’s degree. While having a higher education has a number of benefits, one you may not know about is cheaper car insurance. Providers love giving discounted rates to motorists with an advanced education (even more so than for a prestigious job title or a great salary)! Furthermore, 23% of Bloomington residents have their High School Diploma.

You have a few different options if you are one of the Bloomington residents looking for a higher education. The Bethany College of Missions helps those wishing to spread the good word prepare for missionary work. Also the Northwestern Health Sciences University specializes in alternative forms of health care, from acupuncture to chiropractic medicine and even massage. The Normandale Community College assists nearly 14,000 students each year who want to earn an associate’s degree.

Determining your own personal financial risk can be extremely hard or unattainable for the typical insurance consumer. Insurance companies possess an advantage over shoppers due to their statistics and experiential know-how. Learn what insurance agencies don’t want people to learn. Learn more about Bloomington, MN.

How We Conducted Our Car Insurance Analysis

*We calculated our average rate based on the following metrics: a married, 34 year old male with good credit, a 12-month history of maintaining auto insurance, a clean driving record, who owns his own home. Miles driven annually were based on the national average. The average rate was also calculated based on a financed 2015 Honda Accord with a pre-installed anti-theft device.

Sources:

Minnesota Department of Commerce – Insurance Division

Minnesota Department of Commerce – Banking & Finance

Department of Highway Safety and Motor Vehicles

City-Data.com

Census.gov

Compare Auto Insurance Rates in Bloomington, Minnesota – See How Much You Can Save

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