Everyone has car insurance, but are you paying the right price? Here’s a look into the price of car insurance in Minnesota.
How to Estimate Car Insurance Costs
Car insurance doesn’t have a universal price tag. It’s priced based on a lot of different factors, including location. Your age, gender, type of car, credit score, and driving history are all involved in car insurance estimates.
So, just because there is an average price of car insurance in Minnesota doesn’t mean that that’s the price you will pay or the price you have to pay. Insurance providers will offer different rates, and it’s important to compare local providers to ensure you have a fair price.
Rates in Minnesota
Knowing the average price people pay in Minnesota will give you an idea of how much you should be paying. Insurance prices in Minnesota are slightly lower than the national average, but remember that different providers offer different rates. AAA and State Farm, for instance, offer very competitive rates. So do smaller providers such as Iowa Farm Bureau, North Star Mutual, and West Bend.
The Cheapest Options
Knowing the minimum amount of coverage you have to have in Minnesota is at least 30/60/10 for liability coverage:
- $30,000 for bodily injury per person
- $60,000 per accident
- $10,000 for property damage
You’ll also need uninsured/underinsured motorist insurance of $25,000 in bodily injury per person and $50,000 in bodily injury per accident, as well as $40,000 in personal injury protection.
That sounds substantial, but Minnesota’s average annual premium for minimum car insurance coverage is only $537. In case of an accident, you’ll have coverage to get you by, but you will likely be paying out-of-pocket as well.
Full coverage will increase the amount of coverage in each of these categories, as well as additional categories. The average cost in Minnesota for full coverage is $1,643.
Find Your Best Coverage with All Things Insurance
We make car insurance easier by finding the best possible price for you. To get started, call (763) 645-5450.