How Much Is Car Insurance in Minnesota? (October 2024)

In Minnesota, drivers pay around $1,251 per year for full coverage car insurance and $557 for minimum coverage.

Various factors can influence the price you pay. Your age, the coverage level you choose, where you live, your driving record, and your credit history all play roles in determining your car insurance premium. Finding an affordable plan that also gives you adequate protection is important. Remember that a good driving record and healthy credit score can help make your insurance more affordable.

The average cost of full coverage car insurance in Minnesota is $1,251 per year. Knowing the average car insurance cost helps you evaluate whether you receive an affordable or high quote for your budget. Comparing car insurance quotes is also recommended to find the best rate for you.

Below is a summary of what you might pay for auto insurance in Minnesota, including rates for standard minimum coverage and more complete full coverage policies.

Car insurance in Minnesota is generally moderate in cost. The average annual premium for full coverage with a $1,000 deductible is $1,251 or $104 per month, while the minimum liability-only insurance costs an average of $557 per year or $46 per month. Minnesota's rates are slightly less expensive overall than the national average cost of car insurance, which is $1,337 annually or $111 per month for full coverage and $619 annually or $52 per month for minimum coverage.

Various factors influence the cost of car insurance in Minnesota, such as the lower-than-average number of uninsured drivers, severe weather conditions and the rate of accidents in the state.

Car insurance premiums can vary significantly between companies within the same state. In Minnesota, AAA offers the cheapest full coverage at an average of $860 per year, while GEICO has the most expensive average premium at $1,965 per year.

Understanding this difference in costs underscores the importance of comparing quotes to find the cheapest car insurance rates. Reviewing different providers could lead to substantial savings on your car insurance policy.

The cost of car insurance in Minnesota is also impacted by the level of coverage chosen. A monthly minimum coverage comes in at around $46, while monthly full coverage costs about $104. Despite its higher price, it is recommended to opt for a full coverage insurance because it provides comprehensive protection in various incidents.

Enhancing a policy with comprehensive and collision coverages will raise premiums; however, selecting higher deductibles can offset the premium increase. The deductible, the out-of-pocket expense before insurance kicks in, is applicable to each comprehensive and collision claim.

In Minnesota, the minimum car insurance requirements include $30,000 for bodily injury per person, $60,000 for bodily injury per accident, $10,000 for property damage liability per accident, uninsured/underinsured coverage of $25,000 per person and $50,000 per accident and $40,000 personal injury protection (PIP) per person.

Your location in Minnesota significantly affects your car insurance premiums. Rochester is the cheapest city for full coverage at around $941 per year, while St. Paul is the most expensive at an average cost of $1,287 per year.

Factors such as your age, driving record and the type of car you drive influence your car insurance rates in Minnesota. Where you live within the state, how much you drive and the coverage options you select also impact the cost of your car insurance.

Drivers aged 22 to 29 typically face the highest premiums, averaging $1,544 annually, with costs gradually decreasing as drivers age and gain experience. By the time drivers reach 30 to 59, they tend to pay around $1,251, and for those 60+, the rates are the lowest at approximately $1,145 per year, reflecting a long history of safe driving.

In Minnesota, age and gender are factors that determine car insurance rates. When added to a family policy, 16-year-old male drivers often face the highest premiums at around $2,553 per year. Teens under 18 typically cannot legally purchase car insurance without a parent or guardian co-signer. If a young driver opts for an individual policy, the cost skyrockets to approximately $4,785 per year.

The average annual cost of full coverage car insurance for a 2012 vehicle is $1,008, while a 2022 model costs significantly more at $1,283.

This premium increase is due to the higher actual cash value of newer models, more expensive repair costs and a greater risk of theft. For drivers with newer vehicles, it's wise to consider comprehensive and collision coverage. This type of policy covers expenses from various incidents, ensuring better protection for your investment.

In Minnesota, the average cost for car insurance can vary significantly based on your driving record:

• With a ticket: $1,519 per year; $127 per month
• With an at-fault accident: $1,730 per year; $144 per month
• With a DWI: $2,290 per year; $191 per month

The kind of violation you have makes a difference in how much you pay. The more severe the violation, the more your premiums go up. Your premiums will remain higher as long as the violation is on your driving record. For example, a DWI in Minnesota can stay on your driving record for up to 10 years.

The table below shows how much car insurance might cost you in Minnesota, based on coverage and age group and whether you have a clean record or one with violations.

The average cost of car insurance in Minnesota significantly fluctuates depending on your credit score, ranging from $828 per year for excellent credit to $2,357 for poor credit.

A good credit score is generally between 670 and 739. Scores above this range are deemed very good or excellent, while scores below this range can be classified as fair or poor. Your credit score influences the affordability of your insurance.

Understanding the factors affecting car insurance rates in Minnesota can guide you to more affordable plans. Here's what influences how much you'll pay:

• Age and Driving Experience: Younger drivers in Minnesota often face higher premiums due to their perceived inexperience in driving, which insurers associate with a higher risk of accidents.
• Driving Record: A clean driving record with no violations or accidents usually results in lower car insurance costs, while a history of tickets or collisions can significantly increase rates.
• Credit Score: In Minnesota, insurers may consider your credit score when setting rates. Lower scores potentially lead to more expensive car insurance.
• Location: Rates can vary depending on where you live in Minnesota. Urban areas typically have higher insurance premiums due to increased risks of theft, vandalism and accidents.
• Vehicle Type: The make, model and year of your car influence your insurance rate. Higher-value vehicles usually cost more to insure due to higher potential repair costs.
• Coverage Type: Opting for collision insurance or comprehensive insurance will increase your premium compared to having minimum coverage auto insurance.
• Claims History: Drivers in Minnesota with a history of filing claims may be deemed higher risk and could see higher insurance rates.

To get affordable car insurance in Minnesota, compare quotes, raise your deductible and leverage all available discounts to minimize costs on your minimum coverage or more comprehensive policy.

Understanding the average cost of car insurance in Minnesota is essential for budgeting and financial planning. Learn about factors that influence car insurance and how to find the right coverage for your needs.