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Types of Coverage Offered
- Emergency road service
- Personal injury protection
- GAP insurance
- Accidental death & dismemberment
- Rental expenses coverage
- Uninsured/underinsured motorist protection
Discounts Available
- Multi policy
- early dame
- defensive driver
- low mileage
- good driver
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* Data provided by Bankrate.com. **J.D. Power ’ randomness 2021 U.S. Auto Insurance Study denounce for the Central region. Based on a 1,000-point scale.
The Average Cost of Car Insurance in Minnesota
Compared to the national average of $ 1,674 per year for full coverage, drivers in Minnesota pay a slightly higher bounty of $ 1,643 annually in car policy, based on 2021 data from Bankrate.com. however, this rate is not the like for everyone, since car policy premiums largely depend on personal demographics, such as age, city of residency, type of car, and drive phonograph record. climatic conditions besides play a function in the price of car insurance. Minnesota faces harsh winters, tornadoes, and floods, which raises policy premiums because of the gamble of weather damage. Depending upon population concentration, some cities have cheaper rates than others.
Top 3 Cheapest Car Insurance Companies in Minnesota
| Company | Average Annual Full Coverage Premium* |
| Iowa Farm Bureau | $1,015 |
| State Farm | $1,167 |
| American Family | $1,176 |
* Data provided by Bankrate.com.
Top 3 Most Expensive Car Insurance Companies in Minnesota
| Company | Average Annual Full Coverage Premium* |
| QBE | $2,214 |
| Geico | $2,051 |
| Country Financial | $2,022 |
* Data provided by Bankrate.com.
Top 3 Cheapest Cities for Car Insurance in Minnesota
| City | Average Annual Full Coverage Premium* |
| North Mankato | $1,438 |
| Mankato | $1,445 |
| Moorhead | $1,476 |
* Data provided by Bankrate.com.
Top 3 Most Expensive Cities for Car Insurance in Minnesota
| City | Average Annual Full Coverage Premium* |
| Minneapolis | $1,980 |
| St. Paul | $1,948 |
| Brooklyn Center | $1,887 |
* Data provided by Bankrate.com.
Minnesota Car Insurance: What You Need to Know
It is mandatary for every driver to have indemnity in Minnesota. But before hurriedly purchasing car indemnity, it is important to consider the factors that influence the premiums. Do you drive a brand new mannequin or an old car ? Are you an unmarried driver under 25, a homeowner or live in a region prone to theft ? What does your drive record expect like ? All of these compound to affect your annual car policy cost. In Minnesota, climate, rate of traffic accidents, indemnity imposter, and uninsured motorists negatively influence car insurance prices. Living in crowd cities with a higher chance of larceny and vandalism might besides be responsible for steeper premiums .
- Minnesota has nearly 4 million licensed drivers
- In 2019, the estimated rate of uninsured motorists was 9.9%, lower than many other populous states
- In 2019, there were 1,263 deer-related crashes in the state
Minnesota Minimum Insurance Requirements
The minimum car policy requirements in Minnesota are 30/10/40 and all drivers need to comply. Since this is a tort state, basic insurance must include the follow :
- $30,000 per person and $60,000 per accident in bodily injury liability
- $10,000 in property damage liability
- $40,000 in personal injury protection
- $25,000 per person and $50,000 per accident in uninsured/underinsured motorist coverage
failure to show validation of sufficient coverage can result in fines, license suspension, and annulment of the fomite ’ randomness registration .
Minnesota’s No-Fault Law
The land of the 10,000 Lakes is a no-fault state when it comes to car policy. This means that in character of a traffic accident between two or more vehicles, the respective insurance companies have to pay the claim careless of who was at fault. Although this reduces the chances of lawsuits and other legal complications, it significantly increases indemnity cost since PIP coverage is compulsory.
Additional Car Insurance Coverage in Minnesota
Motorists in Minnesota might feel batten with only liability coverage, but keep in thinker that the minimum coverage does not amply protect the see. While it is going to pay the bills of the early party if you are ever involved in a traffic accident, it will not cover your own expenses. consequently, having full moon coverage is frequently necessity, particularly if you have a new, expensive fomite or an car loanword or live in a city with bad drivers. Some of the coverages you could consider adding to your policy include :
- Collision coverage: Pays for damages you suffer if you crash with another vehicle.
- Comprehensive coverage: Pays for weather damage, theft, and vandalism.
- Gap insurance: Pays for the outstanding auto loan amount if your financed car is stolen or totaled.
Minnesota Car Insurance FAQ
What is the minimum car insurance required in Minnesota?
The compulsory minimum indemnity requirements in Minnesota is 30/60/10, which means at least $ 30,000 in bodily wound coverage per person and $ 60,000 per accident, and $ 10,000 in property price coverage. Since Minnesota is a no-fault state, PIP insurance and uninsured/underinsured motorist protection should besides be included in the basic coverage .
How much is car insurance in Minnesota?
The price of entire coverage car policy in Minnesota is $ 1,643 on average, based on 2021 data from Bankrate.com, but this monetary value can differ from one person to another based on location, driving history, type of vehicle, senesce and other factors .
Who has the cheapest car insurance in Minnesota?
Based on our analysis of Bankrate ’ sulfur data, Iowa Farm Bureau has the cheapest full coverage rate in Minnesota, at $ 1,015 annually. Your rate will vary based on your personal site, and Iowa Farm Bureau may not be the cheapest company for you.
Methodology
Reviews.com reviews products, services and companies based on five criteria to help readers understand how companies compare based on alike metrics. For the best car indemnity companies, our editorial team compared affordability, customer support, coverage options, customer atonement scores and on-line resources from each company to determine top providers. As for average pricing, we used Bankrate.com ’ s data of car indemnity in Minnesota, based on the profiles of a 40-year male and female. For full coverage, the details used were the take after :
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimal coverage that meets each state ’ s requirements. Our base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles per annum. These are sample distribution rates and should entirely be used for comparative purposes.
About the Authors
Cynthia Widmayer Contributing Writer Cynthia Widmayer is an indemnity and personal finance writer featured in The elementary Dollar, Bankrate, and Coverage.com among others. She holds a master ’ s degree in journalism from the University of London .