Finding the right car insurance for your budget is important. But, how much you pay depends on a number of factors, specifically, where you live. So, let’s look at the cheapest car insurance available in Minneapolis, Minnesota.
How Car Insurance Costs Work
First, it’s important to note that any estimates for the cost of car insurance are just that — estimates. You will need a quote from an insurance provider to get an exact number.
That being said, costs are heavily dependent on location, the amount of coverage you purchase, and personal factors, including things like credit score, driving history, age, and gender. These estimates are based on a standard driver in Minneapolis, with estimates based on the size of the plan.
Minnesota Minimum Coverage Requirements
Like every state in the U.S., Minnesota requires everyone to have car insurance. But, each state has their basic requirements for minimum coverage. In other words, if you’re looking for the absolute least expensive insurance, it will at least have to be this much:
- Bodily injury and property damage: $30,000 per person, $60,000 per accident, and $10,000 for property damage.
- Uninsured motorist: $25,000 per person and $50,000 per incident.
- Personal injury protection: $40,000 per person.
On the surface, this may sound like a lot of coverage. But, it may actually not be enough if you’re in a serious accident. The cheapest possible car insurance is still a viable option, but you may want to have money saved up on the side in case this coverage leaves some gaps in an accident.
The Best Standard Coverage Costs
On average, the cheapest car insurance for a full coverage policy in Minneapolis is from:
- State Farm: $943 per year
- Farmers: $977 per year
If you’re looking for the cheapest option, drivers in Minneapolis should steer clear of Progressive which, on average, has the most expensive rates with an annual premium of $1,632.
The Cheapest Options Overall
These numbers, however, are based on standard coverage. Buying the state minimum amount of coverage required in Minnesota is the cheapest option if you want to save on your premiums. On average, the most affordable minimum coverage in Minneapolis are from:
- AAA: $486 per year
- State Farm: $586 per year
First, keep in mind that, as the minimum amount of coverage, these policies will leave you with more costs if you have an accident. Second, remember that your exact price will vary based on things like your age, gender, credit score, and driving history.
Find Your Most Affordable Coverage
No matter your current car insurance, we can help make it better and more affordable. To learn more, call All Things Insurance at (763) 645-5450.