Finding the most cost-effective car insurance rates in Minnesota requires careful consideration of various factors, including credit score, model of car and driving record. Finding a company offering comprehensive coverage at cost-effective prices with multiple discounts should also be top of your priority list.
WalletHub’s Car Insurance Calculator estimates car insurance costs for various drivers – young, old and those with specific driving records. Using this tool can help Minnesotans save on auto insurance by finding affordable coverage options tailored specifically to them.
Age, driving history and credit scores all play an integral part in determining Minnesota car insurance costs. Luckily, it’s simple to compare quotes and find an ideal policy at a competitive price point.
Minnesota requires all residents to obtain liability coverage to protect against injuries or property damage caused by their vehicles, often expressed as 30/60/10 coverage – meaning you must carry $30,000 per person and $60,000 per accident for bodily injury liability as well as $10,000 of property damage liability coverage.
As this may not cover the costs associated with more serious accidents, additional coverage limits should be purchased to protect you against financial ruin if your car is stolen, vandalized, or involved in an accident.
Your car’s value, safety ratings and engine type also play a factor when setting premiums in Minnesota. Luxury or high-end vehicles typically incur greater repairs and spare part expenses compared to other types of cars.
Your choice of deductible and coverage can have a dramatic impact on premiums. Selecting a lower deductible could save money, though any claims filed would require payment out-of-pocket by you. Adding comprehensive and collision coverage may increase costs but provide valuable peace of mind should your vehicle be stolen or damaged in any way.
Dependent upon your specific needs, top-rated companies may help you save more by bundling multiple discounts into one low-cost policy – good driver discounts, student discounts and homeowner or paperless policies can all add up.
Minnesota Car Insurance Companies
In addition to offering competitive discounts, Minnesota’s top auto insurers also feature mobile apps and agents for easy policy shopping and claims settlement.
Rates differ considerably across cities and towns, making it imperative that we understand which regions in our state are considered more risky than others. Insurance companies use this data to establish how much car insurance should cost per policyholder; as a result, drivers living in less densely-populated areas often end up paying less than those who reside in urbanized environments.