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Best car insurance in Minnesota for 2024

Updated Jul 01, 2024
Based on Bankrate's research, Geico, Auto-Owners and State Farm are writing some of the best Minnesota car insurance policies.
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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 car insurance companies in Minnesota

According to data provided by Quadrant Information Services, the average annual premium for a full coverage car insurance policy in Minnesota is $2,410 per year, with minimum coverage averaging $667. However, Bankrate’s insurance editorial team knows that drivers looking for the best auto insurance companies in Minnesota aren’t always looking for the cheapest. To help you in your search, we 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. Geico, Auto-Owners, State Farm, American Family and Farmers emerged as standout carriers.

Insurance company
Bankrate Score
Info
Average full coverage rate Average min coverage rate
4.4
Rating: 4.4 stars out of 5
$2,746
$687
4.3
Rating: 4.3 stars out of 5
$1,771
$483
4.3
Rating: 4.3 stars out of 5
$2,256
$718
4.2
Rating: 4.2 stars out of 5
N/A
N/A
3.8
Rating: 3.8 stars out of 5
$3,966
$1,271

Geico

Geico

4.4

Rating: 4.4 stars out of 5

Avg. full coverage premium

$229/mo

Avg. full coverage premium

$2,746/yr

Customer satisfaction

622/1,000

Auto-Owners

Auto-Owners

4.3

Rating: 4.3 stars out of 5

Avg. full coverage premium

$148/mo

Avg. full coverage premium

$1,771/yr

Customer satisfaction

663/1,000

State Farm

State Farm

4.3

Rating: 4.3 stars out of 5

Avg. full coverage premium

$188/mo

Avg. full coverage premium

$2,256/yr

Customer satisfaction

647/1,000

American Family

American Family

4.2

Rating: 4.2 stars out of 5

Avg. full coverage premium

Not available

Avg. full coverage premium

Not available

Customer satisfaction

837/1,000

Farmers

Farmers

3.8

Rating: 3.8 stars out of 5

Avg. full coverage premium

$330/mo

Avg. full coverage premium

$3,966/yr

Customer satisfaction

622/1,000

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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.

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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

34.5K

ZIP codes examined

1.2M

quotes analyzed

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Powered by Coverage.com (NPN: 19966249)

Advertising disclosure
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 to find the best car insurance in Minnesota

Pinpointing the best car insurance in MN depends on you and your unique circumstances. Since car insurance premiums are highly personalized, the best car insurance for you might not be the best option for your neighbor. Here are some things you should think about when shopping for car insurance:

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News that affects Minnesota car owners

Keeping up with Minnesota news can help you understand what types of insurance might be right for you.

For example, MPR News recently reported that four Minnesota men are facing charges for selling $21 million worth of catalytic converters stolen from local cars. Fortunately, having comprehensive coverage can help replace your catalytic converter if targeted. While it’s a good thing that these thieves are being brought to justice, catalytic converter theft is still rampant. So, it may be smart to add comprehensive coverage to your policy if you haven’t already, especially if you routinely park on public roads.

Another news story that is more on the positive side: According to Minnesota’s Department of Natural Resources, the amount of days with measurable snowfall for the 2023-24 winter season is trending to be the lowest since 2016-17. While some Minnesotans miss the beauty of winter, this is a good thing in regard to safe driving. In the five years between 2016-2020, there were 79,165 crashes, 19,218 injuries and 181 traffic deaths that occurred during snowy or icy road conditions. Hopefully, with such a mild winter this year, these numbers will decline once reported. Nevertheless, having appropriate coverage can help protect you and your vehicle if you unfortunately end up in a collision due to poor weather conditions.

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Advertising disclosure
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 $2,410 per year for a full coverage policy, compared to the national average rate of $2,278 for a full coverage policy. Minimum coverage in Minnesota is $667 per year, compared to the national average of $621.

While Minnesota's average premiums are similar to the national average, its rates are rather high when compared to some nearby states. For instance, Iowa's average full coverage premium is $1,775 per year. North Dakota has a similar average full coverage premium at $1,767. 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.

City Avg. annual full coverage premium Avg. savings vs. state average