Best car insurance in Minnesota for 2023

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.

It depends. The amount of coverage you need should be based on how much risk you are willing to take on. You can ask yourself how much you can afford to pay out-of-pocket if your vehicle got damaged or totaled in an accident, in addition to any medical expenses you might incur from injuries. Most insurance experts recommend full coverage to offer the most financial protection.

To get an auto insurance quote, you will need to provide your address, the make, model and year of your car, and birthdate. You will likely be asked about your driving habits, such as if you drive for commuting purposes or for recreation, and your history of accidents. You might also have to enter the VIN number for your vehicle so the insurance company can review your accident history and get a better sense of the car’s condition.

A minimum coverage policy, which is required in Minnesota, includes personal liability insurance, uninsured and underinsured motorist coverage and personal injury protection. A full coverage policy includes these coverages, plus collision and comprehensive coverage. Keep in mind that drivers who lease or finance their car through a lender are often required to carry a full coverage policy until the loan is repaid.

According to rate data provided by Quadrant Information Services, the cheapest car insurance companies in Minnesota for minimum coverage may be North Star Mutual, West Bend and Iowa Farm Bureau. However, auto insurance rates are specific to your specific underwriting profile. In other words, insurance companies typically use more than ten rating factors to determine your premium. In Minnesota, these could include your age, gender, insurance-based credit score, zip code, the type of vehicle you drive and more. Since car insurance rates are based on these personal factors, no one company in Minnesota is the cheapest for every driver. Although it takes some work, the best tactic to find the lowest rates may be to compare quotes and shop around.