Car insurance rates in Minnesota can vary significantly, which is why it’s essential to shop around before purchasing a policy. With the right information at your disposal, you’re sure to locate the most cost-effective solution for your requirements.
The WalletHub Car Insurance Calculator is designed to assist Minnesota drivers in finding the companies offering them the most competitive rates based on their individual situation. Utilizing data from Minnesota DMV and Quadrant Information Services, WalletHub created 40 distinct driver profiles and identified which insurers offered each one the cheapest quotes.
Minimum Coverages
Minnesota requires drivers to carry a minimum limit of $25,000 per person and $50,000 per accident for bodily injury liability coverage, and $40,000 in personal injury protection (PIP) coverage. Furthermore, the state mandates uninsured/underinsured motorist and property damage liability protection.
If you’re not sure what type of coverage you need, speak with an agent or contact your insurance provider directly. They can recommend the most suitable policy for your situation and explain any discounts that may apply.
Consider Usage-Based Liability
If your vehicle fewer than 10,000 miles annually, usage-based coverage might be the better option for you. This type of policy offers lower premiums when driving fewer miles than anticipated. Nonetheless, keep in mind that usage-based policies won’t cover as much if there’s an accident involved.
Compare Rates Online
Finding a free quote for car insurance in Minnesota can help you save money on your policy. Simply enter your ZIP code, age and gender into the Minnesota Car Insurance Calculator above to compare policies from up to six insurers.
Drivers with a clean record typically enjoy the lowest rates, followed by those with traffic violations and DUIs on their records. These marks on your driving record make it harder for an insurance company to assess how much risk they’ll take when setting your premium.
Young drivers in Minnesota typically face higher insurance rates than older motorists because they pose a greater risk for getting into an accident and filing claims.
Teen drivers in Minnesota typically face an increase in insurance rates of approximately 45% after an at-fault accident, due to their higher accident rate and propensity to file claims than older motorists.
Low-Mileage Drivers in Minnesota Can Save on Car Insurance
Drivers with high average annual mileage can save money on car insurance by choosing a policy with lower deductibles or selecting a lower coverage limit. You might also qualify for discounts by purchasing collision and comprehensive coverage, which protects your vehicle against damage that isn’t related to an accident.
A survey in Minnesota recently revealed that 7% of drivers are driving cars with low mileage, and these individuals pay significantly lower insurance premiums than those who cover more than 10,000 miles annually.