Cheapest car insurance in Minnesota for 2023

Rates were determined by adding a 16-year-old teen to their 40-year-old married parents’ policy. The rates displayed reflect the total cost of a driver this age added to their parents’ policy.

Rates were calculated by evaluating our base profile with the following incidents applied: single speeding ticket.

Rates were calculated by evaluating our base profile with the following incidents applied: single at-fault accident.

Rates were calculated by evaluating our base profile with the following incidents applied: single DUI conviction.

The best car insurance in Minnesota depends on your individual preferences, driving record and personal factors. That’s because each company weighs rating factors and calculates rates differently. The company that’s the best for one driver may not be the best for another. If you’re not sure where to start, you may want to check out Bankrate's list of the best car insurance companies in Minnesota.

There are several ways you might approach lowering your car insurance rates in Minnesota. First, it may be helpful to compare quotes from a handful of the cheapest companies to see which might offer you the lowest rates and most discounts for your circumstances. From there, maintaining a clean driving record, improving your credit score and shopping around when you experience a big life event may help you keep rates affordable over time.

After getting in an accident, you may want to see if your company offers discounts for completing an approved driver safety course, which may help lower your rate. You could also see if your company offers a telematics program which tracks your driving and potentially rewards you with discounts for safe driving. It may also be worthwhile to research the cheap car insurance companies in your area to see if you might be offered a more affordable rate elsewhere.

Bankrate utilizes Quadrant Information Services to analyze 2023 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

• $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 minimum coverage that meets each state’s requirements. Our base profile drivers own a 2021 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should only be used for comparative purposes.

Our 2023 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.

• Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best and the NAIC, were analyzed.
• Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
• Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.