Average Cost of Auto Insurance in Minnesota


Average Cost of Auto Insurance in Minnesota - Auto Insurance


The average cost of auto insurance in Minnesota is $537 per year for minimum coverage and $1,643 per year for collision damage waiver, just below the national average of $565 and $1,674 for minimum coverage and collision damage waiver. These are average rates and the actual rate when buying auto insurance depends on several factors.

How much does car insurance cost in Minnesota?

Factors that affect auto insurance rates include the type of vehicle you drive, the coverage you need, the city you live in, your driver’s license, and your age. Understanding how these factors affect your premium can help you find the best rate when buying auto insurance in Minnesota.

Minnesota Auto Insurance Rates by Company

We’ve compared some of the top insurance companies in Minnesota. We’ve found West Bend and USAA to be solid options if you’re just looking for the bare minimum coverage your state requires. The Iowa Farm Bureau and State Farm, on the other hand, offer excellent rates for comprehensive insurance.

car insurance Average annual premium for minimum coverage Average Annual Premium for Comprehensive Insurance
AAA $487 $1,777
statewide $549 $1,614
american family $590 $1,176
car owner $430 $1,366
financial country $519 $2,022
geisha $540 $2,051
Iowa Department of Treasury $370 $1,015
metlife $793 $2,011
Mutual Polaris $319 $1,421
QBEs $1,127 $2,214
district farm $483 $1,167
USAA $461 $1,491
west bend $380 $1,306
western nation $470 $1,739

Auto Insurance Rates by City in Minnesota

Minnesota is a large state with diverse communities ranging from urban to rural. Drivers in Minnesota’s major cities tend to have higher premiums than drivers in rural and suburban areas. Below, we’ve broken down the average prices in Minnesota’s 20 most populous cities to give you an idea of ​​what to expect based on where you live. You can expect to pay the highest rates in the state, 21% above average.

city Average Annual Premium for Comprehensive Insurance Growth rate of average annual premium
Minneapolis $1,980 twenty one%
sao paulo $1,948 19%
Rochester $1,500 -9%
Duluth $1,555 -Five%
Bloomington $1,621 -1%
brooklyn park $1,784 9%
plymouth $1,561 -Five%
holy cloud $1,550 -6%
so far $1,590 -3%
woodbury $1,593 -3%
maple forest $1,567 -Five%
Raccoon Rapids $1,673 2%
Eden Prairie $1,536 -7%
burnsville $1,614 -2%
lakeville $1,579 -Four%
Brain $1,653 1%
Minnetonka $1,577 -Four%
apple valley $1,583 -Four%
Mankato $1,445 -12%
Edina $1,615 -2%

Minnesota Auto Insurance Rates by Age

Young drivers are believed to be particularly at risk due to their lack of driving experience. They also pay higher premiums because they are statistically responsible for more accidents and deaths than other age groups. Most drivers will find their insurance premiums go down as they get older, unless they keep a good driving record and make a lot of claims.

was Average Annual Premium in Minnesota
16 years * $2,217
18 years $4,177
20 years $3,333
25 years $2,011
30 years $1,741
40 years $1,643
50 years $1,548
60 years $1,510
70 years $1,600

* 16 years calculated based on parent company policy disclosure

Minnesota Auto Insurance Rates by Driver’s License

Insurance companies value safe drivers and reward them with the best car insurance rates. On the other hand, accidents and speeding tickets can significantly increase insurance premiums. One DUI can increase fees by more than 50%.

driving Average Annual Premium for Comprehensive Insurance in Minnesota Growth rate of average annual premium
ticket $2,062 20%
incident $2,298 29%
Drunk driving $3,443 52%

How to save on auto insurance in Minnesota

While you can’t control things like age and location that affect auto insurance rates, there may be other ways to lower your auto insurance rates in Minnesota.

  • Receive regular offers: Make it a habit to check that other auto insurance rates match what you are currently paying. It’s worth switching providers because you can find better rates from another company.
  • Request a discount: Almost all auto insurance companies offer discounts to help lower your premiums. For example, you can set up automatic payments, combine vehicle and renter or home insurance, and get discounts on rates for staying longer with the same carrier or switching companies.
  • Look for offers from affiliated companies or organizations. Some companies offer special discounts for those who work for certain employers, belong to associations, or attend partner universities.
  • Get accident insurance: Accidents can increase insurance premiums by an average of up to 29%. If you only have accidental accidents, you can prevent a significant increase by choosing accident insurance.

Frequently Asked Questions

How much does car insurance cost in Minnesota?

The average annual cost of auto insurance in Minnesota is $1,643 for comprehensive coverage and $537 for the state minimum premium, slightly below the national average. Please note that actual fees will vary and depend on many unique factors.

Where is the cheapest auto insurance company in Minnesota?

Again, actual rates vary, but a Business Insurance study of the cheapest auto policies in Minnesota found that AAA and State Farm offer very competitive collision waiver rates. understood. We encourage you to research the pricing and coverage options that fit your situation.

How Much Auto Insurance Do I Need in Minnesota?

Liability insurance must be at least 30/60/10. This equates to $30,000 for personal injury, $60,000 for accidents, and $10,000 for property damage. Also $25,000 for personal injury per person, $50,000 for personal injury per accident, and $40,000 for personal injury You also need uninsured or underinsured car insurance for personal injury in dollars.

methodology

Business Insurance uses Quadrant Information Services to see 2021 rates for all 50 states and all Washington DC zip codes and carriers. Rates shown are based on her 40 year old clean driving driver with good credit and within the following coverages:

  • $100,000 liability insurance per person
  • $300,000 liability for personal injury
  • $50,000 liability for accident property damage
  • $100,000 per person personal injury caused by an uninsured driver
  • $300,000 bodily injury to uninsured driver due to accident
  • $500 Over Collision
  • $500 Total Deductible

To determine the minimum coverage, Asegranzas para Negocios used the minimum coverage corresponding to each state’s requirements. Our entry level driver owns a 2019 Toyota Camry, travels 5 days a week and drives 12,000 miles per year.

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