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Cheapest Car Insurance

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Cheapest Car Insurance Rates in Minnesota

If you want the cheapest car insurance rates in Minnesota, requesting a handful of quotes from different companies is a good first step. Going with the one with the lowest quote for the coverage you wish buy may not be such a good step. In fact, you could end up paying more for insurance than you should and not know it.

When shopping for car insurance, knowing the coverage minimums for your state is important. Motorists in the state of Minnesota are required to carry no less than $30,000 of Bodily Liability Injury coverage per injured person up to $60,000 per accident; at least $10,000 of Property Damage Liability coverage; a minimum of $25,000 Uninsured/Underinsured Motorist Bodily Injury coverage per person up to $50,000 per accident; and a minimum of $40,000 of Property Injury Protection coverage. You can opt to purchase comprehensive and collision coverage, but it is not required by law to do so. For new and leased vehicles, however, the lienholder typically requires comprehensive and collision in addition to liability coverage.

Minnesota is a No-Fault state. No-Fault means that the insurance company pays for your injury claims up to a specified amount regardless of who is at fault. Keep in mind that you lose some of your rights to file a lawsuit under a No-Fault system.

Your chances of finding the cheapest car insurance rates in MN hinge upon a few factors that may or may be in your favor, depending on your circumstances. If you’re a city dweller, you’ll pay more than someone who lives in the country. If you park your car in area with a higher percentage of crime, it will show in your premium. If you’re under 25 and/or have been driving less than three years, you’ll pay more for insurance. If you drive a sports or luxury car, you’ll pay more for insurance than someone driving a sedan or SUV. Of course, if your driving record is riddled with DUIs and other violations, the cheapest car insurance rates are well out your reach.

In addition to the above, a poor credit history could send a prospective insurer in the other direction. If you have a problem paying your bills on time, chances are your premium payments will often be late. Repeated late payments can cause you to be dropped by your insurer, or they will elect no to renew your policy at renewal time.

Regardless of your chances of getting the cheapest car insurance rates in Minnesota, finding affordable insurance is possible for anyone if they exercise due diligence. Once you’ve narrowed down your choices for an insurer, speak to an agent from each company and ask about all the discounts you may qualify for. Even if you can’t get the cheapest insurance, you might still be able to reduce your premium.