Paying for high-priced car insurance can dwindle your checking account and put the squeeze on your family’s finances. Shopping your coverage around is free, only takes a few minutes, and is a good way to help make ends meet. Many insurance companies compete to insure your vehicles, so it’s not easy to compare every provider and find the cheapest car insurance in Minneapolis.
It is always a good idea to compare prices once or twice a year because prices trend upward over time. Even if you think you had the lowest rates last year you may be paying too much now. So just forget anything you know (or think you know) about car insurance because you’re going to learn the best methods to find lower rates on car insurance.
If you are insured now or need new coverage, you will benefit by learning to shop for the lowest rates while maintaining coverages. Choosing the best insurance company for you in Minneapolis is quite easy. Minnesota vehicle owners just need to know the most effective way to compare rates online.
Minneapolis Car Insurance Prices Online
All major car insurance companies give coverage prices on their websites. The process doesn’t take much effort as you just type in as detailed in the form. Upon sending the form, the company’s rating system will obtain your driving and credit reports and returns a price quote. Online price quotes helps simplify price comparisons, but the process of having to visit different websites and fill out multiple forms is repetitive and time-consuming. But it’s very important to perform this step if you want to find the lowest price.
The better way to compare rates
A quicker way to locate the lowest prices makes use of a single form that analyzes rates from several companies at one time. It saves time, helps eliminate reptitive entry, and makes online price comparison a little more enjoyable. As soon as you send your information, your coverage is rated and you can choose any one of the quotes returned.
If a lower price is quoted, you can click and sign and buy the policy. This process takes just a few minutes to complete and may result in a nice savings.
To find out what other companies charge, click here to open in new window and input your coverage information. If you have a policy now, it’s recommended you complete the form with the coverage information as close as possible to your current policy. Using the same limits helps guarantee you are getting a price comparison based on the exact same insurance coverage.
Lower rates by qualifying for discounts
Car insurance is not cheap, but there could be available discounts that you may not know about. A few discounts will automatically apply at the time you complete a quote, but a few must be requested specifically before you will receive the discount. If they aren’t giving you every credit possible, you’re just leaving money on the table.
- Multiple Cars – Buying insurance for all your vehicles on one policy qualifies for this discount.
- Drive Less and Save – Fewer annual miles could be rewarded with discounted rates on garaged vehicles.
- Clubs and Organizations – Belonging to certain professional organizations is a good way to get lower rates on car insurance.
- Paperwork-free – A few companies may give you up to $50 just for signing your application digitally online.
- Pay Now and Pay Less – If you pay your bill all at once rather than paying monthly you may reduce your total bill.
- Homeowners Pay Less – Simply owning a home can save you money due to the fact that maintaining a home is proof that your finances are in order.
- Sign Early and Save – Some insurance companies reward drivers for signing up prior to your current policy expiration. It can save you around 10%.
- Discount for New Cars – Buying coverage on a new vehicle is cheaper due to better safety requirements for new cars.
It’s important to understand that most discounts do not apply to the entire cost. Most cut specific coverage prices like collision or personal injury protection. Just because it seems like having all the discounts means you get insurance for free, companies don’t profit that way. Any qualifying discounts will bring down the amount you have to pay.
For a list of insurance companies with discount car insurance rates in Minnesota, click here.
Why your price might be higher
Consumers need to have an understanding of some of the elements that go into determining car insurance rates. Knowing what influences your rates helps enable you to make changes that may reward you with big savings.
- Teen drivers pay high rates – More mature drivers are more cautious drivers, tend to cause fewer accidents and receive fewer citations. Teenage drivers are known to be less responsible when driving therefore car insurance rates are much higher.
- Tickets mean higher rates – A bad driving record has a lot to do with how much you pay for insurance. Good drivers get better rates than people who have multiple driving citations. Only having one ticket can increase rates forty percent or more. If you have severe violations like DWI, reckless driving or hit and run convictions may find they need to file a SR-22 with their state motor vehicle department in order to drive a vehicle legally.
- Big city or small town – Choosing to live in a small town has it’s advantages when talking about car insurance. Fewer drivers translates into fewer accidents as well as less vandalism and auto theft. Drivers in populated Minnesota areas have congested traffic and longer commute times. More time commuting means more change of being in an accident.
- Safe vehicles cost less to insure – Safer cars get lower rates. These vehicles have better occupant injury protection and fewer injuries means lower claim amounts and lower rates for you.
- A lapse in coverage is a bad thing – Driving with no insurance is illegal and your next policy will cost more because you let your coverage lapse. And not only will your rates increase, getting caught without coverage may earn you a revoked license or a big fine.
Car insurance is unique, just like you
When choosing the best car insurance coverage, there really is no “best” method to buy coverage. Everyone’s situation is a little different so this has to be addressed. For instance, these questions can aid in determining whether your personal situation would benefit from an agent’s advice.
- Is Minnesota a no-fault state?
- Do I benefit by insuring my home with the same company?
- What vehicles should carry emergency assistance coverage?
- What should my uninsured motorist coverage limits be in Minnesota?
- Is my teen driver covered when they drive my company car?
- Should I buy more coverage than the required Minnesota minimum liability coverage?
If you don’t know the answers to these questions but a few of them apply, you might consider talking to an agent. If you want to speak to an agent in your area, simply complete this short form or click here for a list of car insurance companies in your area. It’s fast, free and can provide invaluable advice.
Much more information about car insurance in Minnesota is available on the website for the Minnesota Department of Commerce through this link. Minnesota consumers can find disaster information, find out which companies have the most complaints, and learn about insurance regulations.
Is there deception in advertising?
Consumers in Minnesota constantly see and hear ads for car insurance savings from the likes of State Farm, Allstate and Geico. They all make an identical promise that you can save if you move your coverage to them.
How does each company claim to save you money? This is how they do it.
Different companies can use profiling for the type of customer that is profitable for them. A good example of a preferred risk might be profiled as between 30 and 50, owns a home, and has great credit. Any new insured who matches those parameters receives the best rates and most likely will pay quite a bit less when switching companies.
Consumers who don’t meet these standards will have to pay higher premiums which usually ends up with business not being written. The ads say “customers that switch” not “everyone that quotes” save that kind of money. That is how insurance companies can claim big savings.
Because of the profiling, drivers must get as many comparisons as possible. It is impossible to predict the company that will give you the biggest savings.
One last thing about your coverage
You just read quite a bit of information on how to shop for car insurance online. The key thing to remember is the more rate comparisons you have, the better your comparison will be. You may even find the biggest savings come from a small mutual company. Smaller companies may only write in your state and offer lower rates as compared to the big name companies such as State Farm and Allstate.
Low-cost car insurance can be sourced from both online companies and with local Minneapolis insurance agents, and you need to price shop both in order to have the best chance of saving money. Some insurance companies do not offer online quoting and usually these small insurance companies provide coverage only through local independent agents.