Perplexed by the dozens of auto insurance choices in Minnetonka? Many other consumers are too. You have so many options that it can quickly become a real challenge to find the best price.
It’s smart to check auto insurance prices yearly since rates are variable and change quite frequently. Despite the fact that you may have had the best deal six months ago you will most likely find a better rate today. Don’t believe everything you read about auto insurance online but by reading this article, you’re going to learn the best ways to save money.
If you have a policy now or are shopping for new coverage, you can use this information to reduce the price you pay while maximizing coverage. The purpose of this article is to teach you how to get online quotes. Minnesota consumers just need to know the proper way to compare company rates online.
How to Compare Minnetonka Auto Insurance Rates
There are a variety of methods to compare auto insurance quotes, but there is one way that is less labor-intensive and much quicker. You could waste time driving to agents in Minnetonka, or you can stay home and use online quotes to get the quickest rates.
Most of the best insurance companies participate in a marketplace where prospective buyers complete one form, and each company then returns a price quote. This saves time by eliminating quote forms for each company. To compare rates using this form now click here (opens in new window).
The one downside to comparing rates this way is buyers cannot specifically choose the insurers you will receive quotes from. So if you want to choose from a list of companies to request quotes from, we put together a list of companies who write auto insurance in Minnesota. Click here for list of insurance companies in Minnesota.
However you get your quotes, double check that you are using apples-to-apples coverage information on every quote you get. If you have differing limits you will not be able to determine the best price in Minnetonka.
You have some control over your rates
Consumers need to have an understanding of the rating factors that come into play when calculating the price you pay for auto insurance. When you know what positively or negatively determines base rates enables informed choices that could result in lower auto insurance prices.
The list below includes some of the factors auto insurance companies consider when setting premiums.
- Small claims can cost you – Companies in Minnesota provide lower rates to insureds who are claim-free. If you frequently file small claims, you can pretty much guarantee higher rates. Insurance coverage is designed for larger claims.
- Is your vehicle built for speed? – The type of car you are insuring makes a significant difference in your rates. The lowest base rates tend to be for economy passenger models, but the cost you end up paying is determined by many additional factors.
- Your credit rating is important – Your credit rating is a important factor in calculating your auto insurance rates. Drivers with high credit scores tend to file fewer claims and have better driving records than those with lower ratings. If your credit rating can use some improvement, you could potentially save money when insuring your by repairing your credit.
- Drive a safer car and pay less – Safer cars can get you lower premiums. The safest vehicles have better occupant injury protection and better occupant protection translates into savings for insurance companies and more competitive rates for policyholders.
- Males pay more for insurance – Statistics have proven women tend to be less risk to insure than men. However, don’t assume that men are worse drivers. They both tend to get into accidents at a similar rate, but the male of the species cause more damage and cost insurance companies more money. Men also tend to get more serious tickets like DUI and reckless driving.
- Your occupation can affect rates – Did you know that where you work can have an impact on rates? Jobs such as real estate brokers, social workers and financial analysts have higher average rates in part from high stress levels and long work days. Conversely, jobs such as pilots, engineers and homemakers get better rates.
- Do you have enough liability coverage? – Liability coverage will protect you in the event that a court rules you are at fault for personal injury or accident damage. Liability insurance provides legal defense coverage which can be incredibly expensive. Liability is cheap when compared with rates for comp and collision, so do not skimp.
More discounts equal less premium
Auto insurance companies don’t list all available discounts very clearly, so we break down some of the best known and the more hidden discounts you could be receiving. If you’re not getting every credit available, you are throwing money away.
- New Vehicle Savings – Buying coverage on a new vehicle can cost up to 25% less because new vehicles have to meet stringent safety requirements.
- Anti-theft Discount – Anti-theft and alarm systems help deter theft and will save you 10% or more.
- Military Rewards – Being deployed with a military unit could be rewarded with lower premiums.
- E-sign – Some insurance companies may give you up to $50 simply for signing on their website.
- Use Seat Belts – Using a seat belt and requiring all passengers to wear their seat belts could save 15% off your medical payments premium.
- Federal Employees – Simply working for the federal government can save as much as 8% depending on your company.
- Good Student Discount – Performing well in school can save 20 to 25%. The discount lasts well after school through age 25.
- Safety Course Discount – Taking part in a course teaching defensive driving skills can save you 5% or more if your company offers it.
It’s important to note that most discounts do not apply the the whole policy. Most cut specific coverage prices like physical damage coverage or medical payments. So despite the fact that it appears you would end up receiving a 100% discount, auto insurance companies aren’t that generous.
It’s not one size fits all
When it comes to choosing coverage, there is no single plan that fits everyone. Each situation is unique.
Here are some questions about coverages that can help discover whether you would benefit from professional advice.
- When does my teenage driver need to be added to my policy?
- What is the minimum liability in Minnesota?
- When would I need additional glass coverage?
- Is a new car covered when I drive it off the dealer lot?
- Do I need roadside assistance coverage?
- Does my insurance cover my expensive audio equipment?
If you’re not sure about those questions but you know they apply to you then you might want to talk to an insurance agent. To find an agent in your area, complete this form. It’s fast, free and can help protect your family.
Best coverage at the best price
The cheapest auto insurance is definitely available from both online companies and with local Minnetonka insurance agents, so you should compare both to have the best rate selection. There are still a few companies who do not offer you the ability to get quotes online and usually these smaller companies provide coverage only through local independent agents.
Consumers change insurance companies for any number of reasons including policy non-renewal, not issuing a premium refund, extreme rates for teen drivers and even high prices. Whatever your reason, finding a great new company is not as difficult as it may seem.
As you go through the steps to switch your coverage, do not buy less coverage just to save a little money. In too many instances, an insured cut physical damage coverage only to regret that it was a big mistake. Your aim should be to purchase a proper amount of coverage at the best price, not the least amount of coverage.
Additional resources for Minnesota consumers
More tips and info about auto insurance is located at the Minnesota Department of Commerce website. Consumers can learn about insurance regulations, find disaster information, and file complaints about an insurance agent or broker.