Cheap Car Insurance in Minneapolis, MN
Everything You Need to Know About Auto Insurance in Minnesota
There is a lot to like about Minneapolis. The largest city in Minnesota, Minneapolis is full of avid sports fans and several successful professional teams, including the Minnesota Twins of the MLB and the Minnesota Timberwolves of the NBA. The term “holy cow!” was coined here by an announcer covering a professional baseball game.
Minneapolis also has a love affair with food, including many of the sweets we all know and love. This includes classic candies like Snickers and Mars bars. The company behind those treats was founded in Minneapolis in the 1920s.
The best way to avoid snow during a Minneapolis winter is by staying warm in the Minneapolis Skyway. Covering more than 60 city blocks, it is the largest continuous skyway on Earth.
Like all major cities, you are required to obtain auto insurance when you drive in Minneapolis. If you are caught behind the wheel without the required coverage, the consequences can be steep. Read through the following guide for a better understanding of car insurance in Minnesota.
How Much Does Car Insurance Cost in Minneapolis, MN?
In Minneapolis, you can expect to pay an average monthly rate of $140 for full coverage car insurance. This is identical to the national average of $140 per month and close to the Minnesota average of $136 monthly. The cheapest car insurance in Minneapolis is the state-required minimum coverage, which comes in at an average of $56 per month. This is close to the national average of $47 and higher than Minnesota’s overall average of $44 monthly.
The minimum level of liability coverage might be the cheapest car insurance in Minneapolis, but that does not mean it is right for you. Some risks come with carrying the minimum insurance allowed by law. Not only could you be on the hook for damages if you cause an accident and the total is more than your policy limits, but you could be on your own when it comes to your losses.
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What Does it Mean if Minnesota is No-Fault?
Minnesota is a “no-fault” insurance state. In no-fault states, your insurance policy will cover your damages no matter who was at fault in the accident. This includes not only property damage but your medical expenses as well. For this reason, many no-fault states require additional minimum coverage in the form of Personal Injury Protection (PIP) or MedPay (medical payments coverage).
Affordable Car Insurance Rates Comparison by Cities in Minnesota
Check out the list of average monthly car insurance prices in cities near Minneapolis, Minnesota:
| City | Full Coverage Insurance | Liability Insurance Coverage |
|---|---|---|
| Minneapolis | $140 | $56 |
| St. Paul | $219 | $50 |
| Maple Grove | $202 | $75 |
| Duluth | $199 | $51 |
| St. Cloud | $204 | $63 |
| Bloomington | $198 | $71 |
| Rochester | $220 | $76 |
Affordable Car Insurance Rates by Zip Code in Minneapolis, MN
Most of the time, the more accidents and claims that occur in a zip code, the higher the cost of auto insurance premiums can be. For that reason, every zip code has a varying average monthly rate.
Here are the average monthly car insurance prices by zip code in Minneapolis:
| Zip Code | Full Coverage Insurance | Liability Insurance Coverage |
|---|---|---|
| 55111 | $140 | $56 |
| 55404 | $250 | $80 |
| 55408 | $250 | $250 |
| 55412 | $250 | $80 |
| 55416 | $202 | $68 |
| 55401 | $243 | $79 |
| 55405 | $251 | $80 |
| 55409 | $248 | $78 |
| 55413 | $251 | $80 |
| 55402 | $249 | $80 |
| 55406 | $249 | $80 |
| 55410 | $199 | $73 |
| 55414 | $247 | $82 |
| 55403 | $248 | $82 |
| 55407 | $248 | $82 |
| 55411 | $243 | $79 |
| 55415 | $249 | $80 |
| 55419 | $204 | $76 |
| 55459 | $288 | $146 |
| 55460 | $253 | $81 |
| 55467 | $288 | $146 |
| 55470 | $288 | $146 |
Low-Cost Car Insurance Rates by Age in Minneapolis, MN
When it comes to the cost of car insurance, having a risky driving record increases the odds that your policy will be expensive. One of the most common high-risk signals when it comes to motor vehicle accidents is the driver’s age. In general, younger drivers are more likely to be involved in collisions. This typically means your car insurance rates will start high before falling off once you reach your mid-twenties.
Listed below are the average monthly car insurance prices by age:
| Age | Full Coverage Insurance | Liability Insurance Coverage |
|---|---|---|
| Teenagers | $348 | $176 |
| 20s | $277 | $139 |
| 30s | $145 | $57 |
| 40s | $152 | $49 |
| 50s | $150 | $50 |
| 60s | $164 | $57 |
| 70s | $174 | $61 |
When determining the average cost of car insurance, the following methodology is used to arrive at our average cost: male driver, age 30, seeking the lowest possible legal coverage allowed by Minnesota law. Your premium rates will be determined by several factors, including your age, gender, claims history, and the amount of insurance coverage you want to buy.
Driving Conditions in Minneapolis, MN
How Many Fatal Accidents Happen in Minneapolis?
In 2020, there were 15 fatal wrecks in Minneapolis.
In 2019, the number of fatal car accidents in Minneapolis was 12. In total, there were 22 people involved in these collisions. A total number of 20 vehicles were involved in these fatal accidents.
How Are the Road Infrastructure and Bridges in Minneapolis, MN?
Like all major cities, Minneapolis has a Public Works department that oversees the road infrastructure and bridges throughout the city. The Traffic and Parking Division of the Public Works Department manages road infrastructure and traffic operations.
In 2022, Minnesota was awarded more than $2.6 billion in federal funds for roads, bridges, transit, and infrastructure. Much of that budget is earmarked for Minneapolis.
Minimum Car Insurance Requirements in Minneapolis, Minnesota
State law sets out a minimum level of liability insurance that drivers must carry. The failure to carry this insurance can not only result in a ticket, but it can also leave you personally liable for any damages that occur in an accident you cause. In Minnesota, liability insurance must include benefits for bodily injury as well as property damage. The minimum coverage required by law includes:
- Bodily injury liability coverage: $30,000 per person
- Bodily injury liability coverage: $60,000 per accident
- Property damage liability coverage: $10,000 per person
- Personal Injury Protection (PIP): $40,000 per person
Meeting the minimum coverage requirements is enough to keep you from getting a ticket. However, it might not be enough to meet your needs if you are involved in an accident. It is helpful to remember that these are only the minimum levels of coverage you are required to carry. You have the option to carry more insurance to make certain that you are protected in case of accidents.
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What Are the Penalties for Driving Without Insurance in Minneapolis, MN?
The law requires you to carry minimum levels of insurance when you drive in Minnesota. Failure to do so can have consequences. These penalties potentially include:
- Jail time
- Fines
- Loss of driving privileges
For a first or second offense, this could result in a fine of up to $1,000. You could also lose your driving privileges or have your license plate suspended for up to you a year.
The penalties are steeper when it comes to third (or more) offenses. Under the law, you could face a fine of up to $3,000 for driving without insurance for a third time. In addition to losing your license, you could also face the prospect of up to 90 days in jail. Alternatively, you could serve community service instead of jail time.
Factors Allowed in Minneapolis Car Insurance Rates
Each state takes a different approach to the information insurance companies may use to determine your insurance premiums. In Minneapolis, car insurance rates are determined by some of the following factors:
- Driving record
- Age
- Gender
- Zip code
- Marital status
- Type of vehicle
- Credit rating
The type of policy you select can also impact your monthly payment. For example, having a policy with higher policy limits is likely to also have higher monthly premium payments. You must select the right policy for your circumstances.
Here’s What You Need to Know When Driving in Minnesota
Minnesota is a cold weather state, which means you should be prepared for snow and ice for large portions of the year. The best way to do this is to watch the weather and avoid driving in bad conditions. When this is not an option, your next bet is to travel at safe speeds and invest in tire chains for extreme weather.
The cities in Minnesota can come with heavy traffic, so it is crucial to remain aware of your surroundings. This includes monitoring other drivers, bicyclists, and even pedestrians to avoid a collision.
Discounts for Car Insurance in Minneapolis, MN
There are plenty of ways to save money on your car insurance through discounts. These discounts could lower your monthly bill based on your history of safe driving, among other things. Some of the other factors that could come into play with the cost of your policy include but are not limited to the following:
Another way to save money and increase the value of your policy is by bundling coverage with the same provider. For example, you could receive a discount on your car insurance if you also purchase your home insurance from Freeway.
Get an Online Quote for Low-Cost Car Insurance in Minneapolis, MN Today!
That covers everything you need to know about car insurance in Minneapolis. Ready to discuss your options? The Freeway Insurance team is here to discuss all your available policy choices.
Get started with Freeway Insurance by requesting a quote online, visiting a nearby office, or calling (800) 777-5620 to speak with one of our friendly agents about your coverage options. Give us a call today.