Paying for high-priced car insurance can drain your bank account and make it impossible to make ends meet. Comparing price quotes is free, only takes a few minutes, and is a good way to make sure you’re not throwing money away. Because there are so many online and local companies to choose from, it is hard for the average consumer to find the lowest price company.
Finding the best rates in Bloomington is not rocket science. If you have car insurance now, you will be able to cut costs considerably using these techniques. Minnesota vehicle owners only need an understanding of the proper way to shop online.
Don’t miss these discounts
Auto insurance companies don’t always advertise all their discounts in an easy-to-find place, so we researched both the well known and also the lesser-known car insurance savings. If they aren’t giving you every credit you deserve, you’re just leaving money on the table.
- Fewer Miles Equal More Savings – Fewer annual miles could be rewarded with discounted rates on garaged vehicles.
- Multi-car Discount – Buying insurance for more than one vehicle with the same company may reduce the rate for each vehicle.
- New Vehicle Savings – Adding a new car to your policy can be considerably cheaper since new cars are generally safer.
- Life Insurance – Some companies give lower rates if you buy life insurance.
- Theft Prevention System – Cars that have factory anti-theft systems help deter theft and therefore earn up to a 10% discount.
- Government Employees – Employees or retirees of the government can earn a discount up to 10% with select insurance companies.
- No Charge for an Accident – Certain companies will allow you to have one accident before your rates go up as long as you don’t have any claims prior to the accident.
- Discount for Good Grades – Performing well in school can save 20 to 25%. The discount lasts up until you turn 25.
- Defensive Driver – Successfully completing a defensive driving course could possibly earn you a 5% discount depending on where you live.
Consumers should know that most discount credits are not given to the overall cost of the policy. The majority will only reduce specific coverage prices like liability and collision coverage. Even though it may seem like having all the discounts means you get insurance for free, you won’t be that lucky.
How to Lower your Car Insurance Rates
Consumers need to have an understanding of the different types of things that help determine the price you pay for car insurance. Knowing what controls the rates you pay empowers consumers to make smart changes that may reward you with much lower annual insurance costs.
The following are a few of the “ingredients” used by your company to calculate rates.
- Little extras can really add up – There are a lot of extra bells and whistles that can waste your money when buying car insurance. Coverages for roadside assistance, accident forgiveness and membership fees are some examples. These may sound like a good investment when you first buy your policy, but your needs may have changed so eliminate them to save money.
- Tickets mean higher rates – Even one ticket can bump up the cost twenty percent or more. Drivers who don’t get tickets tend to pay less for car insurance than bad drivers. If you have serious violations such as DUI or reckless driving may find they need to submit a SR-22 form with the DMV in their state in order to continue driving.
- You might want pay the small claims yourself – If you are a frequent claim filer, you can definitely plan on higher rates. Auto insurance companies in Minnesota provide better rates to insureds who are claim-free. Insurance coverage is meant to be used in the event of major claims that would cause financial hardship.
- How your age affects price – Teenage drivers in Minnesota tend to get distracted easily when driving so they pay higher car insurance rates. If you’ve ever had to add a youthful driver to your car insurance policy can break the bank. More mature drivers are more responsible, tend to file fewer claims and get fewer tickets.
- Please use or commuting – The more miles you rack up on your car in a year the higher your rate. Most companies price each vehicle’s coverage based upon how you use the vehicle. Vehicles that are left in the garage get more affordable rates than vehicles that are driven to work every day. Verify your car insurance policy is showing how each vehicle is driven.
Buying car insurance from a local agent
A small number of people prefer to talk to a local agent and that is just fine! Agents can answer important questions and help submit paperwork. One of the great benefits of comparing rates online is that you can obtain lower rates and still have an agent to talk to.
Upon completion of this simple form, the quote information is immediately sent to insurance agents in Bloomington who will compete for your insurance coverage. There is no need to leave your computer because quoted prices will be sent directly to your email. It doesn’t get any easier!
Picking an insurer shouldn’t rely on just the bottom line cost. Ask your prospective agent these questions:
- Are they properly licensed to sell insurance in Minnesota?
- Is their price quote a firm figure or are their hidden costs?
- Do they receive special compensation for putting your coverage with one company over another?
- Who is covered by the car insurance policy?
- Do they review policy coverages at every renewal?
How to choose the best insurance agent in Bloomington
When researching a good insurance agency, you must know there are a couple types of agencies that differ in how they can insure your vehicles. Agencies in Bloomington are categorized either captive or independent. Both types can do a good job, but it’s worth learning how they are different because it can impact buying decisions.
Captive Agents
Captive insurance agents write business for a single company and examples are Allstate, Farmers Insurance, State Farm and AAA. They generally cannot give you multiple price quotes so keep that in mind. Captives are well schooled on their products and sales techniques which helps them sell insurance even at higher premiums.
Listed below is a short list of captive agencies in Bloomington who may provide you with price quotes.
American Family Insurance – 9927 Lyndale Ave S – Bloomington, MN 55420 – (952) 888-1445
Allstate Insurance – 2626 E 82nd St – Bloomington, MN 55425 – (952) 854-3509
Farmers Insurance Group – 7901 Xerxes Ave S # 304 – Bloomington, MN 55431 – (952) 884-8188
State Farm Insurance – 8100 Penn Ave S # 101 – Bloomington, MN 55431 – (952) 888-4472
Independent Agents
These agents do not work for one specific company so they can insure your vehicles amongst many companies and possibly get better coverage at lower prices. To move your coverage to a new company, the business is moved internally and you don’t have to find a new agent. When comparison shopping, it’s recommended you contact at a minimum one independent agency for the best price selection.
The following are Bloomington independent insurance agencies who can help you get rate quotes.
Ronald Cherry Agency – 8400 Lyndale Ave S – Bloomington, MN 55420 – (952) 835-1188
A Allstar Risk Auto Insurance – 8120 Penn Ave S # 162 – Bloomington, MN 55431 – (952) 888-8900
Youngquist Agency Inc – 7616 W 84th St – Bloomington, MN 55438 – (952) 881-4045
Insurance Concepts Inc – 10341 Yukon Ave S – Bloomington, MN 55438 – (952) 835-0250
Dan L KUHL Agency – 2626 E 82nd St # 115 – Bloomington, MN 55425 – (952) 853-9078
For a full directory of Bloomington insurance agents, view this link.
After getting satisfactory answers in addition to an acceptable price estimate, most likely you have located an auto insurance agent that meets your needs to properly service your car insurance policy.
The fine print in car insurance ads
Consumers in Minnesota constantly see and hear ads that promise big savings from the likes of Progressive, Allstate and Geico. All the companies say the same thing about savings if you move your coverage to them.
How can each company claim to save you money? It’s all in the numbers.
Insurance companies have a certain “appetite” for the type of driver they prefer to insure. A good example of a driver they prefer could be between the ages of 30 and 50, has no tickets, and chooses high deductibles. A driver who matches those parameters gets the lowest rates and most likely will save when they switch companies.
Consumers who fall outside these standards will have to pay higher prices and ends up with the driver buying from a lower-cost company. Company advertisements say “customers that switch” but not “drivers who get quotes” save that much money. That is how companies can claim big savings. Because of the profiling, it is so important to compare as many rates as you can. It’s impossible to know which car insurance company will give you the biggest savings.
Additional detailed information can be read at the Minnesota Department of Commerce website. Consumers can get help finding coverage, learn about specific coverages, and read state legal mandates and laws.
Other informative sites include this site for car insurance rates in Minnesota and this link which helps you find a Bloomington agent.
Online plus local equals savings
In this article, we covered some good ideas how to compare car insurance prices online. The key thing to remember is the more you quote, the better your chances of lowering your rates. You may even discover the lowest rates come from a small mutual company. These smaller insurers often have lower prices on specific markets as compared to the big name companies such as Allstate or State Farm.
As you shop your coverage around, make sure you don’t reduce coverage to reduce premium. There are many occasions where someone sacrificed full coverage only to regret that the small savings ended up costing them much more. The aim is to buy a smart amount of coverage at a price you can afford, not the least amount of coverage.