Cheapest car insurance in Minnesota

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Nationwide provides the cheapest car insurance in Minnesota at $1,363 a year. Your rates may vary, but the average premium is $159 per month in Minnesota, according to Insure.com’s rate analysis.

Car insurance requirements vary by state, and in Minnesota, drivers must carry at least the minimum liability coverage: $30,000 for bodily injury protection per person, $60,000 of bodily injury coverage per accident, and $10,000 for property damage per accident.

However, many drivers choose to purchase full coverage car insurance, which provides additional protection in the event of an accident.

Here’s a breakdown of the cheapest car insurance company in each category.

Cheapest overall: Nationwide

$1,363/year

National avg. rate

Cheapest for at-fault accident: State Farm

$1,791/year

Avg. rate after an at-fault accident

Cheapest for speeding ticket: State Farm

$1,658/year

Avg. rate after speeding ticket

Cheap car insurance companies in Minnesota

At an average annual rate of $1,363, Nationwide offers the cheapest car insurance in Minnesota, 29% less than the state average. Your premium may vary based on personal factors such as your driving record, ZIP Code and car type.

It’s important to compare quotes from various carriers to ensure that you get the best deal.

Below, you’ll find average annual car insurance rates from the most affordable insurance companies in Minnesota.

*Note: USAA only offers coverage to military members, veterans and their families.

How we choose the cheapest car insurance companies in Minnesota

170+

Carriers reviewed

53M+

Quotes analysed

34K+

ZIP codes examined

Cheapest ZIP codes for car insurance in Minnesota

The cheapest ZIP code for car insurance in Minnesota is 56001, with an average annual cost of $1,625. Find below the most affordable ZIP codes for auto insurance rates in Minnesota.

Auto insurance premiums vary significantly from city to city, so drivers need to be sure they’re getting the best deal. Insure.com has done the research for you. Get more information on auto insurance rates by city below.

Cheapest car insurance in Minnesota by age

In Minnesota, insurance rates for young drivers are significantly higher than for adults, as they are more prone to accidents and filing claims. Insure.com’s analysis shows that a 16-year-old pays $4,386 more for car insurance than a 40-year-old driver.

The following table shows the cheapest car insurance premiums for drivers of different ages.

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Cheapest car insurance in Minnesota by driver history

Insurers consider your driving history to be one of the most important factors in setting insurance rates. If you’re involved in an at-fault accident or convicted of a traffic violation, your premiums may increase. On the other hand, having a clean record makes you a low-risk driver and can lead to cheaper car insurance.

Cheapest car insurance after a speeding ticket in Minnesota

Here are the top three companies that offer cheap car insurance after a speeding ticket:

• State Farm: $1,658 per year
• Nationwide: $1,831 per year
• Auto-Owners: $2,169 per year

According to Insure.com data, a single speeding ticket can increase your rates by 36% or $689 in Minnesota.

Getting a speeding ticket can be costly. You will have to pay a fine, and your insurance rates may go up. If you’re looking for the cheapest car insurance costs in Minnesota, below are some insurers that offer cheap car insurance after a speeding ticket.

*Note: USAA only offers coverage to military members, veterans and their families.

Cheapest car insurance after an accident in Minnesota

Here are the top three insurers that provide cheap car insurance rates following an accident.

• State Farm: $1,791 per year
• Nationwide: $1,951 per year
• Auto-Owners: $2,145 per year

State Farm offers the cheapest car insurance rates for drivers following an at-fault accident, with an average car insurance cost of $1,791 annually.

If you’re found at fault, your insurance premiums may go up. However, you can still compare car insurance rates from different insurers to get the best deal.

Below are the companies offering the most affordable car insurance for drivers with an accident on your driving record.

*Note: USAA only offers coverage to military members, veterans and their families.

Cheapest car insurance after a DUI conviction in Minnesota

Here are the top three insurers that provide affordable car insurance rates after a DUI conviction.

• State Farm: $1,658 per year
• Nationwide: $2,316 per year
• Travelers: $2,747 per year

A DUI conviction can have a significant impact on your car insurance rates, as most insurers will classify you as a high-risk driver and raise your rates accordingly.

The following table highlights insurance companies offering cheap car insurance rates for drivers with a DUI conviction.

*Note: USAA only offers coverage to military members, veterans and their families.

Average car insurance cost in Minnesota

Full coverage insurance typically costs more than minimum liability insurance, but for most drivers, the additional expense is worthwhile. On average, full coverage car insurance in Minnesota is $16 more than the national average.

Full coverage limits vary, but getting a policy with limits of 100/300/100 is recommended for added protection.

What is full coverage car insurance in Minnesota?

Full coverage car insurance covers bodily injury liability, property damage liability, collision and comprehensive coverage. Collision insurance helps pay for repairs if your car is damaged in an accident, while comprehensive insurance protects against damage from non-collision events like theft or natural disasters.

In Minnesota, if you’re leasing or financing your car, your lender might require you to purchase collision and comprehensive insurance on top of the state-required liability coverage.

Final thoughts

When it comes to car insurance, everyone is looking for ways to save on premiums. However, cutting back on coverage to save a little money now could result in much higher costs later.

Before purchasing an auto insurance policy, consider your specific needs to ensure you purchase adequate insurance coverage. Since car insurance rates differ, it’s important to compare quotes from various companies to find the most affordable coverage in Minnesota.

Methodology

Insure.com gathered data from Quadrant Information Services to get car insurance rates in Minnesota. The rates are based on a sample profile of a 40-year-old male and female driving a Honda Accord LX with a good insurance score and no violation on record for a full coverage insurance policy with limits 100/300/100 and $500 comprehensive and collision deductibles.

We analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes nationwide.

To determine car insurance rates for high-risk drivers with a history of traffic violations, we used a sample profile of a 40-year-old male and female driver who own a Honda Accord LX.

We also used sample profiles of drivers from different age groups: Teen drivers (Age 16-19), young drivers (Age 20-24), adult drivers (Age 25-60) and senior drivers (Age 65-75)

We determined the premiums for a high-risk driver with the following incidents applied

1. 1 At-fault property damage accident over $2K
2. 1 At-fault property damage accident under $2K
3. At-fault bodily injury accident
4. Poor credit
5. DUI/DWI first offense
6. Speeding 30+ over limit
7. Speeding ticket 1-10 MPH over limit
8. Speeding ticket 11-29 MPH over the limit

These are sample rates, and your exact rates may vary.

Shivani Gite

Contributing Writer

 

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Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.