Cheapest car insurance companies in Minneapolis
Nationwide and Travelers have the cheapest car insurance premiums for Minneapolis drivers in 2023, based on a data study by Insurance.com.
In Minneapolis, Nationwide provides the cheapest auto insurance rates to drivers at an average annual premiumThe payment required for an insurance policy to remain in force. Auto insurance premiums are quoted for either 6-month or annual policy periods. of $1,792 annually.
The cost of car insurance in Minneapolis varies depending on your ZIP code, driving history, coverage level, and carrierAn insurance carrier is the company that provides your car insurance policy and pays claims.. To maximize your chances of finding a great deal, it's recommended to compare quotes from multiple carriers.
Here’s a list of insurance companies offering affordable premiums to drivers in Minneapolis.
| Companies | Average annual rates |
|---|---|
| USAA | $1,489 |
| Nationwide | $1,792 |
| Travelers | $1,799 |
| State Farm | $1,860 |
| Auto-Owners | $2,013 |
| Automobile Club MI (AAA) | $2,069 |
| Geico | $2,410 |
| Western National Mutual | $3,057 |
| Allstate | $3,199 |
Cheapest car insurance cost in Minneapolis by Age Group
USAA is the cheapest option for car insurance in Minneapolis for teen drivers, with average annual premiums at just $4,496 annually. Teenagers face high insurance costs due to inexperience and higher accident rates.
However, teen drivers who maintain good grades or stay on their parent's policy can qualify for significant insurance discounts.
USAA provides the cheapest car insurance coverage for young drivers in Minneapolis, with an annual premium of $2,325 on average.
As Minneapolis drivers transition into their 30s, they can enjoy significantly lower auto insurance costs compared to their 20s. USAA stands out as the cheapest car insurance option for adult drivers, with an annual premium of $1,515.
With an average annual premium of $1,526, USAA offers Minneapolis's senior drivers the cheapest car insurance premiums, ensuring financial security and peace of mind behind the wheel.
| Company | Teens | Young Adults | Adults | Seniors |
|---|---|---|---|---|
| USAA | $4,496 | $2,325 | $1,515 | $1,526 |
| Auto-Owners | $4,726 | $3,114 | $1,998 | $1,965 |
| Travelers | $5,072 | $2,735 | $1,804 | $1,749 |
| State Farm | $5,195 | $3,046 | $1,872 | $1,725 |
| Nationwide | $6,085 | $2,936 | $1,759 | $1,605 |
| Automobile Club MI (AAA) | $7,439 | $3,492 | $2,107 | $2,128 |
| Geico | $7,475 | $3,994 | $2,348 | $2,459 |
| Allstate | $8,649 | $5,111 | $3,059 | $3,419 |
| Western National Mutual | $8,678 | $5,714 | $3,054 | $3,203 |
| North Star Mutual | $9,819 | $6,236 | $4,320 | $3,798 |
Cheapest car insurance companies in Minneapolis by driver profile
Driver profile is one of the many factors that insurers take into account to determine car insurance premiums in Minneapolis. Drivers with a history of accidents or traffic citations on their record can expect significantly higher costs than those with a clean driving record.
When it comes to finding the cheapest car insurance rates in Minneapolis, make sure you compare insurance quotes from various insurers. By comparing rates from multiple providers, you can get the coverage you need while saving money.
Based on data analysis by Insurance.com's experts, these are the cheapest car insurance companies for Minneapolis drivers based on driver profile.
- Cheapest for a driver with poor credit: Nationwide
- Cheapest for a driver with a speeding ticket: State Farm
- Cheapest for accident: State Farm
- Cheapest for DUI: State Farm
Cheapest for a driver with poor credit: Nationwide
Nationwide is the cheapest car insurance option for drivers with poor credit. Its average annual auto insurance cost for Minneapolis drivers is $1,863.
The table below shows the list of car insurance companies that offer affordable car insurance for drivers with poor or bad credit scores.
| Company | Average annual rates |
|---|---|
| Nationwide | $1,863 |
| Geico | $1,953 |
| USAA | $3,092 |
| State Farm | $3,233 |
| Allstate | $5,264 |
| Travelers | $6,336 |
Cheapest for drivers with a speeding ticket: State Farm
Based on recent data analysis, 30-year-old drivers in Minneapolis with speeding tickets on their driving record can get the cheapest car insurance rates from State Farm at an annual cost of $1,504.
Remember that the cheapest car insurance company for you may not be the cheapest company for someone else. Ensure you compare car insurance quotes from various carriers to secure the most favorable deal. This way, you can find the insurance company that offers the best rates and coverage for your specific needs.
| Company | Average annual premium |
|---|---|
| State Farm | $1,504 |
| Nationwide | $1,690 |
| USAA | $1,705 |
| Geico | $2,588 |
| Travelers | $2,728 |
| Allstate | $4,041 |
Cheapest auto insurance after an at-fault accident: State Farm
Finding affordable car insurance rates after an at-fault accident isn't easy, but if you compare quotes, you might find a policy that fits your budget.
In a recent data analysis, Insurance.com found that State Farm offers the cheapest car insurance rates for Minneapolis drivers with at-fault accidents. It provides coverage at an average annual cost of $1,640.
| Company | Average annual rates |
|---|---|
| State Farm | $1,640 |
| Nationwide | $1,906 |
| USAA | $2,281 |
| Travelers | $2,794 |
| Geico | $3,304 |
| Allstate | $5,100 |
Cheapest auto insurance after a DUI: State Farm
State Farm is the cheapest option for Minneapolis drivers seeking affordable auto insurance rates after a DUI conviction, at an annual rate of $1,504, on average.
A DUI conviction typically leads to a rise in your auto insurance costs. But if you shop around and compare quotes from various insurers, you can find a good deal on your insurance premiums.
| Company | Average annual rates |
|---|---|
| State Farm | $1,504 |
| Nationwide | $2,554 |
| USAA | $2,594 |
| Travelers | $4,074 |
| Allstate | $5,418 |
| Geico | $8,848 |
Average car insurance cost in Minneapolis
In Minneapolis, the annual cost of car insurance for the coverage level of 100/300/100 is $2,188 or around $182 per month. However, the average yearly rate for state minimum coverage in Minneapolis is $783.
Choosing full coverage insurance may mean a higher policy cost compared to the state minimum, but it offers better protection. It provides liability coverage as well as
| Average annual Rates | State minimum average |
|---|---|
| $2,188 | $783 |
Methodology
Insurance.com commissioned 2023 data for the cheapest car insurance rates in cities from Quadrant Data Services for all 50 states and Washington D.C. Rates are based on the following profile:
- 40-year-old male driver
- Honda Accord LX
- 12-mile daily commute, 10,000 annual miles
- Good credit
- Clean record
While the rates for drivers with poor credit, speeding tickets, DUI and at-fault accidents were sourced from the Auto Problems Report 2023.
Rates are based on coverage limits of:
- $100,000 bodily injury per person
- $300,000 bodily injury per accident
- $100,000 property damage per accident
- $500 comprehensive and collision deductible
Insurance.com analyzed rates from over 34,000 ZIP codes, 56 million quotes, and 136 companies. Based on the analysis, we have created lists of the cheapest companies for different driver profiles. USAA also made it to the list, but it offers services only to current and former military members and their families. Rates sourced from Quadrant Data Services for comparison purposes only; your rates may differ.
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