Getting a good deal on car insurance can be challenging, but it doesn’t have to be. WalletHub’s Minnesota Car Insurance Calculator will help you compare rates from top companies in your area and find the best policy for your needs.
Driver Age
The average rate for drivers aged 18 to 30 in Minnesota is $2,800 per year, but it can be much lower with a few quick phone calls or online quotes. One way to cut costs is to ask about student car insurance discounts, which may be available if you’re a full-time student or a recent graduate. Another option is to shop around for cheap auto insurance that offers low or no deposit, but you must be willing to put some money down upfront.
Married Driving
In Minnesota, married drivers can save up to 8% on their car insurance policies. However, the average cost for a married driver is $1,125 per year, which is higher than the national average of $1,035.
Credit Scores
If you have blemishes on your record, like speeding tickets or DUIs, your premiums will be much higher than those of a driver with clean records. The most affordable rates are usually found with a company that doesn’t use your credit history when setting premiums.
Minnesota’s Minimum Liability Coverage
A basic car insurance policy in the state of Minnesota requires that you carry liability, personal injury protection and uninsured/underinsured motorist coverage. The minimum liability requirement is $30,000 in bodily injury liability per person, $60,000 in bodily injury liability per accident and $10,000 in property damage liability.
Having the right amount of coverage can make all the difference when you need to file an insurance claim. The state also requires that you have personal injury protection (PIP) to cover medical expenses, lost wages and other costs related to injuries resulting from a car accident. You can also get collision and comprehensive coverage, which helps cover the cost of repairs to your car if it’s damaged by something other than a car accident.
Minnesota’s Auto Insurance Requirements
The state of Minnesota is a no-fault state, meaning that drivers are not required to prove who was at fault for an accident. Instead, the at-fault driver must pay for their own injuries and property damage.
Many states require that all drivers carry minimum car insurance, which can be a good way to start saving money. In fact, some insurance companies even offer a discount for drivers who meet certain requirements, such as having no accidents or a good driving record.
Minnesota’s Auto Insurance Quotes
To get an idea of how much different car insurance companies charge in Minnesota, WalletHub used data from the Minnesota DMV and Quadrant Information Services to create 40 different driver profiles that identify the cheapest Minnesota car insurance companies in a variety of key categories. Then, we compared the premiums of each profile to those of a driver with the same characteristics in 39 zip codes that represent at least 20% of the state’s population.