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Best cheap car insurance in Minneapolis for 2024
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Powered by Coverage.com (NPN: 19966249)
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
The best car insurance companies in Minneapolis
The best car insurance in Minnesota is affordable and provides the level of coverage and service you deserve. Bankrate analyzed average rate quotes provided by Quadrant Information Services from every ZIP code in the state. Next, we reviewed each insurance company’s available coverage options and discounts, AM Best financial strength ratings and J.D. Power customer satisfaction scores. After compiling this information, we were able to assign each company a Bankrate Score — on a 5.0 scale — which reflects each carrier's overall performance across these multiple rating categories.
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Geico made our list: Geico won three 2024 Bankrate Awards for its auto insurance product and offers policies to drivers with various types of driving histories. In Minneapolis, Geico’s rates are middle of the road but it offers more discount options than most carriers, including telematics, discounts for teen drivers and affiliation discounts for various clubs and memberships, as well as active-duty military members and veterans.
Why Geico may be the best for digital tools: If you like having access to your insurance policy 24/7, Geico may be worth considering. Geico’s mobile app allows policyholders to make policy changes, payments, print ID cards, file a claim and more. The website is also easy to navigate and customers can chat with live agents if they need assistance. For drivers who like to speak to their agent, Geico has 24/7 customer service and a few local offices throughout the state.
| Bankrate Score | 4.4 |
| J.D. Power | 622/1,000 |
| AM Best score | A++ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Auto-Owners made our list: Auto-Owners coverage is sold through a network of independent agents, which could make it appealing to those who want additional support with their policy selections or a personalized claim filing experience. It may also offer the best auto insurance in Minneapolis if you want to bundle your homeowners insurance.
Why Auto-Owners may be the best for add-on coverage options: Auto-Owners offers unique coverage options that you don't often find with other carriers. One is its common loss deductible, which may allow your auto insurance deductible to be waived if both your home and auto suffer damage from the same covered event. Auto-Owners also offer accident forgiveness, gap coverage and diminished value coverage.
| Bankrate Score | 4.3 |
| J.D. Power | 663/1,000 |
| AM Best score | A++ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why USAA made our list: USAA consistently offers some of the lowest prices in auto insurance and is known for its excellent level of service. However, since only current and former members of the military and their qualifying family members can sign up for USAA, this carrier won't be the best option for everyone. USAA offers the standard types of auto insurance coverage along with various discount opportunities such as its SafePilot telematics program and legacy discount.
Why USAA may be the best for military-focused coverage: USAA specializes in coverage options and discounts geared toward the military community. Policyholders who choose to store their vehicles while deployed may get a storage discount. USAA also allows customers to pick their own due date, save money with automatic payment plans and do not charge installment service fees.
| Bankrate Score | 4.4 |
| J.D. Power | 622/1,000 |
| AM Best score | A++ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Allstate made our list: Allstate has an A+ (Superior) financial strength rating with AM Best and offers rates comparable to the Minneapolis city average. This carrier has unique ways for policyholders to save on car insurance. Along with a teen driving training program, Allstate has Drivewise, a usage-based telematics program, and Safe Driving Bonus, where drivers may earn cash back every six months if they don't have an accident.
Why Allstate may be the best for local agents: For drivers who like working with an agent directly, Allstate may be a strong option. Minneapolis is home to various local Allstate agents that may be especially helpful for first-time insurance shoppers or those with complex coverage needs.
| Bankrate Score | 3.9 |
| J.D. Power | 629/1,000 |
| AM Best score | A+ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why AAA made our list: AAA offers nationwide coverage through a network of regional clubs and agents. Automobile Club Group, the AAA region for Minnesota, has the lowest average rates for full and minimum car insurance but inconsistent third-party customer satisfaction scores. In addition to typical car insurance coverage options, AAA offers gap insurance, accident forgiveness and pet insurance for companions injured in a vehicle incident.
Why AAA may be the best for additional perks: AAA is one of the few carriers offering perks beyond car insurance. It is best known for its towing program, but this program also offers discounts on travel, dining, shopping and more. Depending on your membership plan, you may receive free credit monitoring and discounts on movies and even magazines. Drivers who like "extras" may want to consider car insurance quotes from AAA.
| Bankrate Score | 3.4 |
| J.D. Power | 651/1,000 |
| AM Best score | A |
Bankrate's trusted insurance industry expertise
Read our full methodologyBankrate’s insurance editorial team includes licensed agents with real-world industry experience. We know that having access to reliable information regarding car insurance is the first step toward making strong financial decisions. Our goal is to help you confidently navigate the world of insurance by providing you with the most up-to-date proprietary data paired with expert commentary.
46
years of industry experience
122
carriers reviewed
34.5K
ZIP codes examined
1.2M
quotes analyzed
The cheapest car insurance companies in Minneapolis
Car insurance rates have skyrocketed nationwide, and location plays a large part in car insurance costs. Minneapolis drivers may pay more for living in Minnesota's biggest city. City drivers face a higher risk of collision, theft and vandalism claims, and metropolitan areas also usually have higher costs associated with auto repairs and medical bills. Below are the five carriers that offer the cheapest average car insurance rates for minimum coverage for Minneapolis drivers.
| Insurance company | Average annual min coverage premium | Average annual full coverage premium |
|---|---|---|
|
$600
|
$1,932
|
|
|
$769
|
$2,215
|
|
|
Western National
|
$588
|
$2,307
|
|
West Bend
|
$670
|
$2,321
|
|
$711
|
$2,340
|
How much is car insurance in Minneapolis, Minnesota?
The average cost of car insurance in Minneapolis is $2,576 per year for full coverage and $826 for minimum coverage. Your own rate will vary from these averages as auto insurance is a highly individualized product, and factors such as location, age and driving history will impact your premium.
Minneapolis rates for teens
Like most states, Minnesota allows age and driving experience to be used as an insurance rating factor, and teen drivers tend to pay more for auto insurance than any other age group. Teen driving statistics reveal that these inexperienced drivers speed more, get into more accidents and are less likely to wear a seatbelt compared to older drivers. Teen drivers can save money on car insurance by staying on their parents' policy for as long as they live at home and applying for driving discounts geared towards young drivers.
| Insurance company | 16-year-old* | 18-year-old* |
|---|---|---|
|
North Star Mutual
|
$830
|
$830
|
|
$968
|
$842
|
|
|
$1,110
|
$1,054
|
|
|
Western National
|
$1,141
|
$910
|
|
$1,338
|
$1,090
|
| Insurance company | 16-year-old* | 18-year-old* |
|---|---|---|
|
$2,847
|
$2,577
|
|
|
$3,241
|
$3,119
|
|
|
$3,889
|
$3,282
|
|
|
Western National
|
$4,503
|
$3,587
|
|
West Bend
|
$4,866
|
$4,139
|
Minneapolis rates for young drivers
As new drivers gain more experience, their insurance rates usually decline. Once drivers move out of their teen years and into their 20s, they move out of their parents' home. At this point, most insurance companies will require young drivers to get their own insurance policies. Since this policy is rated with the adult child as the named insured, the insurance premiums are usually still high.
| Insurance company | 20-year-old | 25-year-old |
|---|---|---|
|
$983
|
$674
|
|
|
North Star Mutual
|
$993
|
$473
|
|
$1,260
|
$881
|
|
|
$1,321
|
$844
|
|
|
Western National
|
$1,469
|
$765
|
| Insurance company | 20-year-old | 25-year-old |
|---|---|---|
|
$3,523
|
$2,423
|
|
|
$4,175
|
$2,756
|
|
|
$4,527
|
$3,153
|
|
|
$5,062
|
$2,976
|
|
|
$5,461
|
$3,252
|
Minneapolis rates for adults
Once drivers turn 25, the insurance industry no longer considers them youthful operators. Young drivers are usually moved into the standard risk group or even the preferred risk group if they have maintained a clean driving record and meet the insurance company's underwriting criteria.
| Insurance company | 30-year-old | 40-year-old | 50-year-old |
|---|---|---|---|
|
North Star Mutual
|
$473
|
$473
|
$415
|
|
$559
|
$600
|
$574
|
|
|
Western National
|
$611
|
$588
|
$521
|
|
West Bend
|
$707
|
$670
|
$658
|
|
$751
|
$711
|
$768
|
| Insurance company | 30-year-old | 40-year-old | 50-year-old |
|---|---|---|---|
|
$1,920
|
$1,932
|
$1,731
|
|
|
$2,286
|
$2,215
|
$1,804
|
|
|
Western National
|
$2,407
|
$2,307
|
$1,929
|
|
West Bend
|
$2,425
|
$2,321
|
$2,095
|
|
$2,516
|
$2,376
|
$2,224
|
Minneapolis rates for senior drivers
Once drivers surpass age 70, car insurance rates can get more expensive. Eyesight and reaction time can start to decline as drivers get older, and this correlates to a slight increase in accident rates for senior drivers. Senior drivers may want to consider shopping for insurance companies offering low-milage plans or senior defensive driving discounts to help offset rising premiums.
| Insurance company | 60-year-old | 70-year-old |
|---|---|---|
|
North Star Mutual
|
$415
|
$398
|
|
Western National
|
$521
|
$562
|
|
$531
|
$614
|
|
|
West Bend
|
$662
|
$780
|
|
$745
|
$841
|
| Insurance company | 60-year-old | 70-year-old |
|---|---|---|
|
$531
|
$1,851
|
|
|
$745
|
$2,269
|
|
|
Western National
|
$521
|
$2,268
|
|
$746
|
$1,974
|
|
|
West Bend
|
$662
|
$2,345
|
The cheapest car insurance in Minneapolis by driving record
Your driving record significantly impacts your car insurance rates. Insurers assess your risk level based on your history of moving violations, accidents and claims. While a clean driving record often results in lower premiums, nobody is perfect — most people have driving incidents on their records at some point in life. Insurers weigh various moving violations and accidents differently, which is why shopping your insurance policy among different carriers can help you save money.
Car insurance with a speeding ticket in Minneapolis
Speeding is a primary factor in the majority of car insurance accidents. As a result, insurance carriers usually increase auto rates for three to five years for drivers with speeding tickets to accommodate for the added risk. On top of higher insurance rates, drivers who receive speeding tickets in Minnesota usually incur fines starting at $125. The average annual cost of full coverage car insurance after receiving a speeding ticket in Minneapolis is $3,170, which is 8 percent more than the state average cost after a speeding ticket.
| Insurance company | Average min coverage rate | Average full coverage rate |
|---|---|---|
|
North Star Mutual
|
$539
|
$3,899
|
|
Western National
|
$588
|
$2,313
|
|
$682
|
$2,116
|
|
|
West Bend
|
$895
|
$3,172
|
|
$946
|
$2,848
|
Car insurance after an accident in Minneapolis
Accidents increase your car insurance rates with most providers. In Minneapolis, drivers pay an average of $3,703 per year for full coverage car insurance after an accident, 9 percent more than the Minnesota average post-accident cost.
| Insurance company | Average min coverage rate | Average full coverage rate |
|---|---|---|
|
Western National
|
$585
|
$2,299
|
|
North Star Mutual
|
$806
|
$5,892
|
|
$809
|
$2,408
|
|
|
$1,081
|
$3,262
|
|
|
$1,154
|
$3,645
|
Car insurance after a DWI in Minneapolis
DWIs are considered one of the most severe driving infractions due to the risk of causing a car accident with high liability and property damage claims. Finding cheap car insurance in Minneapolis can be challenging once insurance providers consider you a high-risk driver. Many drivers find car insurance with nonstandard carriers a more affordable option. Minneapolis drivers convicted of a DWI pay an average of $5,657 per year for full coverage insurance.
| Insurance company | Average min coverage rate | Average full coverage rate |
|---|---|---|
|
Western National
|
$585
|
$2,316
|
|
West Bend
|
$903
|
$3,197
|
|
$1,311
|
$3,648
|
|
|
$1,390
|
$3,886
|
|
|
North Star Mutual
|
$1,412
|
$10,831
|
Minimum coverage requirements in Minneapolis
Minnesota car insurance laws require all drivers to carry car insurance for their cars to be street-legal, and the state requirements are more stringent than many other states. Minneapolis drivers must maintain at least the following levels of minimum insurance coverage:
- $30,000 bodily injury liability per person
- $60,000 bodily injury liability per accident
- $10,000 property damage liability per accident
- $25,000 uninsured motorist bodily injury per person
- $50,000 uninsured motorist bodily injury per accident
- $25,000 underinsured motorist bodily injury per person
- $50,000 underinsured motorist bodily injury per accident
- $40,000 personal injury protection (PIP)
It is important to remember that these coverage types do not offer financial protection for your vehicle. Full coverage car insurance usually includes these coverage types as well as comprehensive and collision coverage. Full coverage offers physical damage coverage for your vehicle for at-fault accidents, weather-related losses, theft and vandalism.
Frequently asked questions
Methodology
Bankrate utilizes Quadrant Information Services to analyze July 2024 rates for all 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 single, 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 2022 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.
Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket and single DUI conviction.
Age: Rates were calculated by evaluating our base profile with the ages 20-70 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.
Teens: Rates were determined by adding a 16- or 18-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.
Bankrate Score
Our 2024 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.
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. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.
-
Cost & ratings 50%
-
Coverage & savings 30%
-
Support 20%
- Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average 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, Demotech 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.
