The average cost of car insurance in Minneapolis, Minnesota is $ 1,980 per year for full coverage or $ 165 per month. The average work journey in the city is less than 25 minutes and most drivers drive alone. Although a shocking statistic, Minnesota surpassed 300 traffic deaths by the end of August 2021, the lowest ever Minnesota benchmark since 2007. Those who have affordable rates in Minneapolis can go a long way in staying financially secure.
While reviewing the best car insurance in Minneapolis, Bankret’s insurance editorial team evaluated the cheapest car insurance companies in the region by the average premium and available coverage and discounts. The cheapest car insurance company in Minneapolis is State Farm, according to Banquet’s 2021 cited annual premium study.
The best cheap car insurance companies in Minneapolis
By analyzing Quadrant Information Services’ average annual auto insurance premiums, Bankrett reached his choice for the cheapest car insurance in Minneapolis, Minnesota. We looked carefully at the range of coverage options and discounts available, AM Best Financial Strength Rating and JD Power Consumer Satisfaction Score. Industry-trusted third-party ratings help provide a better view of how providers work in a number of key areas, such as customer service and claim payout capabilities. By compiling this information, we were able to give each company a score on the Bankret Score – 5.0 scale – which reflects their overall performance in these categories and prices.
How to get and keep the cheapest car insurance in Minneapolis
Finding a cheap quote is an important part of reducing your cheap car insurance option, but there are many factors that can help you secure the lowest price. The following tips will help you find the cheapest company for you.
Consider your coverage needs. Comparing average quotes is just the beginning. When comparing providers side by side, apples to apples are compared in equal proportions and for different types of coverage, including options such as roadside assistance or a complete glass repair. Each provider will charge a different amount, so knowing the coverage you need can help clarify your cheapest option.
Reduce your risk. Carriers set rates based on insurable risk, where as you take less risk as an insured, your rates are cheaper. Staying accident-free, driving at posted speed limits, and avoiding unnecessary claims can all help you achieve the lowest rates.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No The Money Circles journalist was involved in the writing and production of this article.