Minnesota Car Insurance Calculator Explained

Minnesota ranks sixth for driver safety, making car insurance an absolute necessity. Since individual needs vary widely, comparing quotes from multiple insurers to find the most cost-effective policy is key to finding an ideal plan. Our calculator makes this easy by determining your payment based on location and vehicle make/model year as well as driving history and credit score to see how these factors may influence rates. Minnesota law mandates minimum coverage; additional comprehensive and collision protection could provide further peace of mind.

On average, Minnesota residents pay $493 annually for liability coverage – much cheaper than the national average of $560 but still leaving you prone in case of serious accidents or theft. Many opt to add comprehensive and collision policies which cost an extra average annual premium in Minnesota; be mindful that if leasing or financing a vehicle will likely require both comprehensive and collision.

Minnesota drivers’ driving history can have an enormous effect on premiums. According to actuarial data, people with poor records tend to file more claims and insurers often charge them more – nearly $1,186 annually on average in Minnesota alone for drivers with poor records versus those with excellent scores! But there’s good news: your driving record can often improve over time and eventually help lower premiums.

Though most drivers can save money by opting for the least-expensive option, it is equally important to select coverage that meets both your personal and financial goals. When researching discounts that could apply to you – for instance some top companies provide special offers for students, veterans, safe drivers, good homeowners and paperless policies among others – so do your research thoroughly and choose carefully!

Insuranceopedia Provides Minnesota Car Insurance Calculator

Minnesota’s annual minimum car insurance premium average is currently $493; however, drivers with good driving records and credit can get affordable premiums. Bundling auto and home policies will save even more, while some carriers even provide additional perks like roadside assistance and free Wi-Fi while customers are in their vehicle or at their offices.

To assist in finding the lowest rates, WalletHub’s team of experts have conducted extensive analyses on quotes from major insurance providers across the nation. Below are rates analyzed from major providers across Minnesota for a 40-year-old male with full coverage and no violations who drives five days per week a 2022 Toyota Camry five days per week; these rates were collected using publicly sourced information from insurance filings; their use should only be for comparison purposes as your own rates may differ significantly; use our form on this page to calculate rates by entering personal details into top providers; enter personal info then compare personalized car insurance quotes from top rated providers across your state!