Minneapolis, MN Auto Insurance | Cheap Car Insurance in Minneapolis, MN

Cheap car insurance in Minneapolis, MN starts at $41/month courtesy of Farmers. There are quite a few companies offering competitive Minneapolis, MN auto insurance. Among the top Minneapolis, MN car insurance companies are: Allstate, State Farm, Allied, and Nationwide.

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Chris Tepedino is a feature writer that has written extensively about auto insurance for numerous websites. He has a college degree in communication from the University of Tennessee and has experience reporting, researching investigative pieces, and crafting detailed, data-driven features. His works have been featured on CB Blog Nation, Flow Words, Healing Law, WIBW Kansas, and Cinncinati.com. ...

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Reviewed by Rachael Brennan
Licensed Insurance Agent

UPDATED: Nov 17, 2020

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Minnesota auto insurance has 30/60/10 minimum liability coverage. Residents in need of cheap car insurance in Minneapolis, MN can find affordable rates. Farmers, Allstate, State Farm, Allied, and Nationwide are some of the most affordable Minneapolis, MN car insurance companies. Farmers offers drivers Minneapolis, MN auto insurance rates of $41.

Minneapolis is the biggest city in all of Minnesota, “the land of 10,000 lakes”. During the early days of exploration in the North American continent, the city was founded at the head of the Mississippi River as a convenient location for trade and travel. Economically, the city was founded on the lumber industry. Now it is propped up by high technology. It is reported that the growing business environment in Minneapolis (and its sister city, Saint Paul) is quite hospitable.

Fun fact: Calling all the single ladies! Minneapolis is #65 on the list of “Top 100 cities with the largest percentage of males (pop. 50,000+)”.

Are you in need of cheap auto insurance in Minneapolis, MN? From AutoInsuranceEZ.com, you can find affordable Minneapolis, MN auto insurance. To acquire free car insurance quotes offered by the best providers today, provide your local ZIP code in the quote box in this article.

Auto Insurance Coverage Requirements in Minnesota

Driving legally in Minneapolis 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

In addition to regular Liability requirements, Minnesota also requires that its drivers purchase Uninsured motorist coverage and Medical Payments. While this may seem to make your policy more expensive, they can be worth it if you are ever struck and/or injured by an uninsured motorist.

Rumor is that the average Minnesota driver pays around $113 monthly or more for their insurance policy. But even Minneapolis residents can get insured for as low as $68/mo* - if you act fast!

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Minneapolis Car Insurance Premiums by Provider

Average Monthly Auto Insurance PremiumsLegend: Minneapolis Allstate Farmers State Farm Allied Nationwide 10203040506070$76$41$77$67$79

 

It looks like Farmers, Allied, and Allstate are offering the lowest prices in your area right now. But remember: sometimes, you get what you pay for. This means that offering the lowest rate doesn't always come with stellar customer service, too.

Minneapolis, MN auto insurance companies contemplate different elements when calculating quotes, such as marital status, where you live, credit score/rating, driving distance to work, and current insurance coverage and limits. Also keep in mind that premiums vary from company to company. To make sure you’re still paying the cheapest price, assess cheap Minneapolis, MN auto insurance quotes online.

Major Factors in Cheap Car Insurance in Minneapolis, Minnesota

There are lots of ways that your car insurance rate can be calculated. But not all of it is out of your control; there are steps you can take to be able to impact what discounts you are entitled to acquire. Listed here are some of these elements in greater detail:

Your ZIP Code

Your car insurance rates may differ according to the place you call home. Generally, highly populated cities feature greater car insurance rates since the extra number of drivers on the highway increases the probability of a collision! The population of Minneapolis is 400,070 and the average household earnings are $50,563 per year.

Auto Insurance by ZIP CodeLegend: Minneapolis Bloomington Duluth Rochester Saint Paul Allstate Farmers State Farm Allied Nationwide 8162432404856647280$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

The numbers in the chart below may seem high, but keep in mind that there are over 400,000 residents in Minneapolis (and many more than that if you count the surrounding suburbs). Therefore, per capita, the accident rates are fairly low - which can lead to lower car insurance rates.

Fatal Accidents in Minneapolis, MNLegend: Minneapolis Fatal accident countVehicles involved in fatal crashesFatal crashes involving drunk personsFatalitiesPersons involved in fatal crashesPedestrians involved in fatal accidents 510152025303540451627619487

 

Auto Thefts in Minneapolis

Sometimes in modest cities or non-urban towns, auto theft may still be a problem. In order to make it a lesser problem for you, consider installing a passive anti-theft system on your current automobile. Your auto insurance company might compensate you with lower prices! In Minneapolis, there were 1,575 auto thefts in 2013. This marks a slight decline in average theft, but that doesn't mean you should ignore or avoid Comprehensive coverage (which is the only coverage that protects against theft).

Basic vs. Comprehensive Auto PolicyLegend: Basic Coverage Comprehensive Coverage Allstate Farmers State Farm Allied Nationwide 153045607590105120135150165$76$173$41$80$77$140$67$123$79$127

 

Minneapolis Auto Insurance Costs by Credit Level

Having poor credit can be one of the biggest and most costly factors when it comes to automotive insurance. If you have a poor credit score, you can end up paying double or more the monthly premiums of someone with excellent credit.

Auto Insurance by Credit ScoreLegend: Excellent Credit Poor Credit Allstate Farmers State Farm Allied Nationwide 153045607590105120135150165$62$142$42$150$63$143$57$101$82$178

 

Minneapolis Auto Insurance Premiums by Age

The older you are, the more experience you have behind the wheel - and the less likely you are to get into an accident. This can lead to some serious discounts for older drivers. I can also produce some high monthly rates for younger motorists.

Auto Policy Age ComparisonLegend: 34 Year Old 17 Year Old Allstate Farmers State Farm Allied Nationwide 3570105140175210245280315350385420$76$175$41$428$77$229$67$234$79$361

 

Minneapolis Car Insurance Premiums by Accident and Violation History

The more violations you have on your record, the more you will likely be paying in premiums each month. However, more and more companies are beginning to offer "Accident Forgiveness", which is a great discount for lowering your premiums.

Car Insurance by Make/ModelLegend: 2015 Honda Accord 2012 Porsche Boxster Spyder Allstate Farmers State Farm Allied Nationwide 20406080100120140160180200$76$208$41$96$77$154$67$112$79$106

 

Your Vehicle

If you think it's more expensive to insure luxury vehicles than your typical sedan, you're right - but it's more complicated than you think. You can actually insure a Ferrari or a Porsche for quite cheaply if all you purchase is state minimum coverage. But is purchasing insufficient insurance worth the risk? Most drivers think not.

Car Insurance by Make/ModelLegend: 2015 Honda Accord 2012 Porsche Boxster Spyder Allstate Farmers State Farm Allied Nationwide 20406080100120140160180200$76$208$41$96$77$154$67$112$79$106

 

Minor Factors in Cheap Auto Insurance in Minneapolis, Minnesota

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

Minneapolis Auto Insurance Rates by Marital Status and Gender

Bundling is one of the best ways to get discounts on your automobile or any other type of insurance policy. And married couples can bundle their policies together for added savings - just make sure your policies are with the same company first.

Think car insurance companies in Minneapolis are charging exorbitantly different rates based on gender? Think again. More and more companies are moving away from calculating premiums based on gender. And even if your company does, the difference will be less than 1-2%.

Your Driving Distance to Work

Average commute times in Minneapolis may vary. While some trips may take as little as 17 minutes, an average of up to 26 minutes is also likely. The majority of commuters (60%) will drive their own vehicle to work, anywhere from 2-26% might carpool to work on a given day.

Driving fewer miles each year will save you on gas and vehicle maintenance costs, but sadly it won't put more than a dent in your monthly premium. However, business vehicles cost around 11% more to insure than personal-use ones.

Your Coverage and Deductibles

There is an inverse relationship between your deductible amount and your monthly premium. You can actually lower your monthly payment by quite a bit by raising your deductible. But if you ever have to file a claim, make sure you have the money saved up.

Education in Minneapolis, MN

For many drivers, simply earning and advanced degree can help them negotiate a lower price on their auto insurance. It's a stronger negotiating tool than having a prestigious job, or a higher salary. For Minneapolis, this applies to the 24% of motorists who possess a bachelor’s degree. A slightly smaller amount, 20% have obtained their high school diploma.

Minneapolis is a highly educated city. It hosts one of the top 20 universities in the country, the University of Minnesota – Twin Cities, which educates nearly 50,000 students each year and offers a range of degrees from bachelor’s and up. However, if you’re looking for a private institution, you may want to examine the North Central Bible College or Augsburg College, both of which offer associates and other advanced degrees.

Locating reasonably priced car insurance could end up being a hassle. There’s lots of information you need to think about, and understanding how insurance providers examine your possible risk could be complex. But try not to let the wrong insurance company to convince you to buy an expensive policy. Learn more about Minneapolis, MN.

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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

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