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Best car insurance in Minnesota for 2023

Based on Bankrate's research, Geico, Auto-Owners and State Farm are writing some of the best Minnesota car insurance policies.

Updated Nov 29, 2023
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Best car insurance companies in Minnesota

During our study on the best car insurance in Minnesota, we learned that the average annual premium for a full coverage car insurance policy in the state is $1,760 per year, with minimum coverage averaging $585. However, we know that drivers looking for the best car insurance aren’t always looking for the cheapest. To help you in your search, we’ve also analyzed customer satisfaction scores from the J.D. Power 2023 U.S. Auto Insurance study, financial strength ratings from AM Best, discount availability and more.

Insurance company
Bankrate score
Info
Average full coverage rate* Average min coverage rate*
4.4
Rating: 4.4 stars out of 5
$1,818
$536
4.2
Rating: 4.2 stars out of 5
$1,555
$455
4.2
Rating: 4.2 stars out of 5
$1,137
$483
3.8
Rating: 3.8 stars out of 5
$1,106
$507
3.8
Rating: 3.8 stars out of 5
$1,377
$686
*Displayed rates are average annual premiums
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This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

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.

Best for discounts

Rating: 4.4 stars out of 5
4.4 Bankrate Score
JD Power: 847/1,000 AM Best: A++

Average annual premium

$ 1,818 for full coverage
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Why Geico made our list: Although Geico’s average premiums in Minnesota aren’t the lowest, the company offers a long list of savings opportunities that could help drive this base rate down. You could get a discount for being a military member, government employee, or through an affiliation with a professional group, fraternity or sorority. Eligible drivers who complete a defensive driving course might also see some savings. Additionally, Geico’s telematics program, DriveEasy, is available in Minnesota, which could earn safe drivers savings for using a mobile app to track their driving habits. These extensive discount options helped Geico tie for the 2023 Bankrate Award for Best Auto Insurance Company Overall.

Who Geico may be good for: Geico’s coverage options are relatively basic, so it may be a good choice for drivers looking to save money on a no-frills car insurance policy.

Read full Geico Insurance review

Best for bundling

Rating: 4.2 stars out of 5
4.2 Bankrate Score
JD Power: 829/1,000 AM Best: A++

Average annual premium

$ 1,555 for full coverage
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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 prefer the personal touch that a brick-and-mortar agency can provide. It may also offer the best auto insurance in Minnesota if you want to bundle your homeowners insurance. Policyholders who bundle their home and auto with Auto-Owners may only have one deductible across both policies if their home and auto are damaged in the same loss. The company also offers a multi-policy discount which may help you save.

Who Auto-Owners may be good for: Minnesotans in the market for auto and home insurance who prefer to do business in person with a local agent might find it worthwhile to contact Auto-Owners for a quote.

Read full Auto-Owners Insurance review

Best for households with teen and young drivers

Rating: 4.2 stars out of 5
4.2 Bankrate Score
JD Power: 833/1,000 AM Best: A++

Average annual premium

$ 1,137 for full coverage
Get a quote

Answer a few questions to see personalized rates from top carriers.

Why State Farm made our list: State Farm offers more than one way for teens and young drivers to save on car insurance in Minnesota. State Farm’s Steer Clear program could help eligible drivers under 25 save up to 15 percent on their policy for enrolling and completing a self-study driving improvement program. In addition to helping young drivers save money, Steer Clear could help these newer drivers solidify safe driving habits. State Farm’s telematics discount Drive Safe & Save could also help safe drivers lower their premiums, and unlike some other telematics programs, State Farm will not add a surcharge to your policy if the company’s mobile app determines you are a risky driver.

Who State Farm may be good for: Minnesota families with licensed teens in their house might be interested in learning more about the discount opportunities State Farm offers for younger drivers.

Read full State Farm Insurance review

Best for cheap rates

Rating: 3.8 stars out of 5
3.8 Bankrate Score
JD Power: 837/1,000 AM Best: A

Average annual premium

$ 1,106 for full coverage
Get a quote

Answer a few questions to see personalized rates from top carriers.

Why American Family made our list: Based on our premium data, American Family offers some of Minnesota's cheapest rates for full coverage car insurance. In addition to cheap rates, American Family has several discounts that may help you save even more. Some of these savings opportunities include the early bird discount, which you can earn by simply requesting an American Family quote at least a week before your current renewal date. Just because American Family has cheap rates doesn't mean it skimps on customer service, though. In fact, the carrier won second place for overall customer satisfaction in the J.D. Power 2023 U.S. Auto Insurance Study in the Central region.

Who American Family may be good for: American Family could be optimal for budget-conscious drivers who also value customer service and coverage add-ons such as diminishing deductibles, emergency road service and gap insurance.

Read full American Family Insurance review

Best for coverage add-ons

Rating: 3.8 stars out of 5
3.8 Bankrate Score
JD Power: 819/1,000 AM Best: A

Average annual premium

$ 1,377 for full coverage
Get a quote

Answer a few questions to see personalized rates from top carriers.

Why Farmers made our list: Farmers offers a wide range of add-ons that you might not find with other carriers. You may be able to augment your policy through several endorsements. Some of Farmers’ stand-out options include original equipment manufacturer (OEM) parts coverage, which could cover the additional cost of using OEM parts rather than after-market to repair your vehicle after a loss. Hobby mechanics and those who own classic cars might be interested in adding Farmers’ spare parts coverage, which can pay up to $750 to replace spare parts damaged in a covered loss.

Who Farmers may be good for: Farmers might be a good option for Minnesotans willing to pay a little extra for robust coverage options.

Read full Farmers Insurance review

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How Bankrate chose the best car insurance companies in Minnesota

To identify top companies in the state, Bankrate first studied average premium data provided by Quadrant Information Services for some of the largest auto insurance companies in Minnesota by market share. We then rounded out our study by ranking each company using our proprietary Bankrate Scores.

Bankrate Scores (ranging from 0.0 to 5.0) measure a company across a range of metrics, including third-party customer service scores, nationwide availability, coverage options, digital tools and more. With this information, we hope to give our readers an easy way to evaluate a company accurately and holistically.

Bankrate logo

Why you can trust Bankrate

Read our full methodology

To help Minnesota drivers find the best car insurance, Bankrate’s insurance editorial team reviewed some of the largest insurers by market share. We based our picks on a well-rounded analysis of several metrics related to each company.

46

years of industry expertise

122

carriers reviewed

20.7K

ZIP codes examined

1.2M

quotes analyzed

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This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

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Insurance Disclosure

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.

How to find the best car insurance in Minnesota

Getting the best car insurance depends on you and your unique circumstances. The best car insurance for you might not be the best option for your neighbor. Here are some things you should consider when shopping for car insurance:

Related content:

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This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

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.

How much is car insurance in Minnesota?

In the North Star State, the average cost of auto insurance is about $1,760 per year for a full coverage policy. This is slightly cheaper than the national average rate of $2,014 for a full coverage policy. Minimum coverage in Minnesota is $585 per year, which is also lower than the national average of $622.

While Minnesota's average premiums may be lower than the national average, its rates are rather high when compared to some nearby states. For instance, Iowa's average full coverage premium is $1,315 per year. North Dakota has a similar average full coverage premium at $1,302. Minnesota's rates may be higher because of the amount of snow the state gets, thanks to Minnesota's proximity to Lake Michigan and Lake Superior. Lots of snow leads to slippery roads and an increase in car insurance claims, which could lead to higher rates.

Estimate your car insurance cost in Minnesota

Average rate data is a helpful starting point in finding the best car insurance for you, but comparing personalized quotes is the best way to see which carriers could fit within your budget. Use the tool below to help you get started with personalized rates in Minnesota.

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This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

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Why we're asking
Methodology

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Methodology

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.

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46
years of industry expertise
Search
122
carriers reviewed
Location
20.7K
ZIP codes examined
Dollar Coin
1.2M
quotes analyzed
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Written by
Mary Van Keuren
Contributor, Insurance

Mary Van Keuren has written for insurance domains such as Bankrate, Coverage.com, and The Simple Dollar for the past five years, specializing in home and auto insurance. She has also written extensively for consumer websites including Reviews.com and Slumber Yard. Prior to that, she worked as a writer in academia for several decades.

Edited by Editor, Insurance