How Much Is Car Insurance In Minnesota?

The average cost of full-coverage car insurance in Minnesota is $1,258 annually, which is lower than the national average of $2,388. On the other hand, minimum coverage in Minnesota costs about $610 per year, slightly below the national average of $664.

In this article, we will explore the different types of car insurance available in Minnesota, their costs, and the factors that influence how much you’ll pay. With over 12 years of experience as a licensed insurance agent, I’m here to help you make an informed choice.

Car insurance rates in Minnesota are about 18% lower than the national average. However, some drivers, particularly teens or those with a poor driving record, may find their premiums higher than expected.

Your auto insurance rates are influenced by more than just where you live. Insurance companies consider various factors such as your age, gender, marital status, credit score, and driving history when determining your premium.

Cost Of Car Insurance In Minnesota By Age

Younger drivers in Minnesota are seen as higher risk due to their inexperience behind the wheel. Statistically, they are more likely to be involved in accidents and fatalities, which makes their insurance more expensive. As drivers get older, their premiums typically go down, provided they keep a clean driving record and don’t file too many claims. In Minnesota, 16-year-olds can expect to pay over twice as much for car insurance as most adult drivers.

Here is a table displaying the average car insurance costs by age:

Average Minnesota Auto Insurance Rates By Insurance Company

Car insurance rates can differ greatly between companies, even within the same state. In Minnesota, Farm Bureau offers the lowest full coverage at an average of $794 per year, while Allstate’s rates are the highest, averaging $1,616.

This price variation shows how important it is to compare quotes from different providers. Shopping around can help you find the most affordable car insurance in Minnesota and save you a lot of money.

Here is a table displaying average auto insurance rates by six national carriers in Minnesota:

Average Minnesota Car Insurance Premiums By Credit Score

Your credit score is an important factor in determining your car insurance rates because auto insurance companies view it as an indicator of risk. Studies have shown that people with higher credit scores tend to file fewer insurance claims, making them less risky to insure. On the other hand, individuals with lower credit scores are statistically more likely to file claims, so insurers may charge them higher premiums to offset that risk.

In certain states, insurance companies are not allowed to use credit scores when setting auto insurance rates, but Minnesota is not one of those states. In Minnesota, you can expect to pay lower premiums if you have a higher (better) credit score.

Here is a table displaying average car insurance premiums based on different credit score categories in Minnesota:

Average Car Insurance Costs In Minnesota By Gender

In Minnesota, car insurance rates can vary based on gender, though the difference is typically small. On average, male drivers tend to pay slightly higher premiums than female drivers. This is because, statistically, men are more likely to be involved in accidents, especially at younger ages. However, the gap in premiums between genders usually narrows as drivers get older and gain more experience behind the wheel.

Keep in mind that while gender is one factor, other aspects like driving history, age, and the type of car you drive also play a significant role in determining your overall car insurance costs.

Here is a table displaying average car insurance costs by gender in Minnesota:

Cost Of Minnesota Car Insurance By Driver Record

In Minnesota, your driving record plays a significant role in determining how much you pay for car insurance. Drivers with a clean record typically pay lower premiums, while those with traffic violations or accidents on their record can expect higher rates.

Insurance companies view drivers with poor records as higher risk, leading to higher premiums to offset the potential for future claims. Safe driving habits can help keep your rates lower over time.

Here is a table displaying average car insurance costs based on different driving records in Minnesota:

Average Minnesota Auto Insurance Costs By Marital Status

One advantage of being married is the potential for lower car insurance premiums. In Minnesota, married drivers save an average of $95 annually on their auto insurance, which is higher than the national average savings of $73. Insurance companies often offer discounts to married couples because they tend to be seen as more stable and less likely to file claims.

This discount can add up over time, helping married drivers save money on their premiums. In addition to being a financial benefit, maintaining a clean driving record can further reduce your rates.

Here is a table displaying average car insurance costs by marital status in Minnesota:

Cost Of Car Insurance In Minnesota By Coverage Type

The level of coverage you choose directly impacts your car insurance costs in Minnesota. On average, minimum coverage costs around $48 per month, while full coverage is about $110 per month. Even though full coverage is more expensive, it offers more protection in case of accidents, theft, or other incidents.

Including comprehensive and collision coverage will increase your premium, but you can lower the increase by choosing a higher deductible. For example, the $1,000 deductible for full coverage applies separately to both comprehensive and collision coverage.

Here is a table displaying average car insurance costs by coverage type in Minnesota:

Average Minnesota Car Insurance Rates By City

Minnesota is a large state with a variety of communities, from bustling cities to quiet rural areas. Drivers in Minnesota’s larger cities usually face higher insurance premiums compared to those in suburban or rural areas, mainly because busy traffic can lead to more accidents. To give you a better idea of what to expect, we’ve outlined the average insurance rates for some of the most populated cities in Minnesota.

By looking at these differences, drivers can better understand how their location impacts their insurance rates, helping them select a city that fits both their budget and lifestyle.

In the table below, we compare the average car insurance costs across ten cities in Minnesota to highlight these variations.

Average Minnesota Car Insurance Rates By ZIP Code

Car insurance rates in Minnesota can vary significantly depending on your ZIP code, as factors like traffic density, accident rates, and crime levels impact premiums. Generally, drivers in urban areas with more traffic and higher accident rates may face higher insurance costs compared to those in rural or less congested areas.

For example, Minneapolis and Saint Paul, as the state’s largest cities, tend to have higher premiums due to the increased risk of accidents and theft. On the other hand, drivers in smaller towns or rural areas may experience lower rates due to fewer accidents and less traffic congestion.

To get a better understanding of how ZIP codes affect car insurance rates, it’s important to compare quotes from providers based on your specific location. This can help you find the best rate for your area.

Minnesota Car Insurance Prices Compared To Other U.S. States

Comparing Minnesota car insurance prices to those in other U.S. states is important because it helps drivers understand if they’re paying more or less than the national average. It provides insights into how local factors, such as population density, accident rates, and weather conditions, influence insurance premiums.

Knowing where Minnesota stands in relation to other states allows drivers to make informed decisions about their coverage, budget more effectively, and explore ways to save on insurance. Additionally, it highlights regional trends and helps explain the factors behind varying rates, ensuring that drivers are well-prepared when shopping for the best deal.

In the following table, we provide you with a comprehensive comparison of average car insurance rates across all U.S. states, providing a clearer picture of how Minnesota fares on the national stage.