Mankato Car Insurance Buying Tips You Aren’t Supposed to Know

Purchasing the cheapest Mankato car insurance over the internet may be challenging for consumers new to comparing rates online. With a ridiculous number of online companies available, how can anyone effectively compare every company to locate the lowest rates?

If you are paying for car insurance now, you will be able to save some money using these tips. Buying more affordable coverage in Mankato is quite easy. Although Minnesota car owners can benefit by having an understanding of the way companies price insurance differently because it can help you find the best coverage.

How to Compare Mankato Car Insurance Rates

All the larger car insurance companies allow you to get insurance quotes directly from their websites. The process is quite simple as you simply type in the amount of coverage you want as detailed in the form. Once entered, their system requests your driving record and credit report and returns a price quote based on many factors.

Quoting online makes it a lot easier to compare rates but the work required to visit several different sites and type in the same information can get tiresome after awhile. But it is imperative to perform this step in order to get the lowest car insurance rates.

The better way to compare rates

A less time-consuming method to compare car insurance pricing makes use of a single form to return rates from several companies at one time. It saves time, eliminates form submissions, and makes online shopping much more efficient. Once the form is submitted, it is quoted and you can select any of the quotes that you receive. If you find a better price you simply finish the application and buy the new coverage. The whole process takes less than 15 minutes and may save quite a bit of money.

To quickly compare pricing, click here to open in a new tab and input your coverage information. If you have your current policy handy, we recommend you enter the limits and deductibles as shown on your current policy. Doing this assures you will get rate comparison quotes using the same coverage and limits.

Are you falling for claims of savings?

Companies like GEICO, State Farm and Progressive regularly use ads on TV and radio. All the ads make an identical promise about savings if you move your coverage to them. How does each company say the same thing? This is how they do it.

All companies are able to cherry pick for the driver they prefer to insure. For example, a driver they prefer could be between the ages of 30 and 50, has no prior claims, and has a short commute. Any new insured who matches those parameters will get the preferred rates and as a result will probably save a lot of money.

Potential customers who don’t meet the “perfect” profile will have to pay a more expensive rate and this can result in business not being written. Company advertisements say “drivers who switch” but not “drivers who get quotes” save that much. This is how insurance companies can advertise the savings. Because of the profiling, you should quote coverage with many companies. It is impossible to predict which insurance companies will provide you with the cheapest rates.

Lots of discounts mean lots of savings

Companies that sell car insurance don’t always list every discount very well, so the following is a list of both well-publicized and also the lesser-known ways to save on car insurance.

  • Sign Early and Save – Some insurance companies reward drivers for switching policies before your current policy expires. It can save you around 10%.
  • Theft Prevention System – Vehicles equipped with anti-theft or alarm systems are stolen less frequently and therefore earn up to a 10% discount.
  • Seat Belts Save more than Lives – Buckling up and requiring all passengers to use their safety belts can save up to 15% off your PIP or medical payments premium.
  • Good Student – A discount for being a good student can save 20 to 25%. This discount can apply up to age 25.
  • Own a Home – Owning a house in Mankato can help you save on car insurance because owning a home is proof that your finances are in order.
  • Life Insurance – Select insurance companies reward you with better rates if you take out auto and life insurance together.
  • Air Bag Discount – Factory air bags can get savings of 20% or more.
  • Memberships – Participating in a civic or occupational organization may earn a discount on your policy.

A little note about advertised discounts, most credits do not apply to the entire policy premium. Most only apply to the price of certain insurance coverages like comp or med pay. So even though they make it sound like all those discounts means the company will pay you, companies wouldn’t make money that way.

To see a list of companies who offer car insurance discounts in Mankato, click here.

Your local neighborhood insurance agent

A small number of people just want to buy from a licensed agent and that is just fine! One of the great benefits of comparing rates online is the fact that you can find the best rates but still work with a licensed agent.

After completing this form (opens in new window), the coverage information is submitted to companies in Mankato who will compete for your business. There is no reason to leave your house due to the fact that quote results will go directly to your email. How’s that for easy! It’s the lowest rates and work with a local agent.

Deciding on an insurer requires more thought than just a low price. Ask your prospective agent these questions:

  • Do they regularly work with personal auto policies?
  • If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
  • If they are an independent agency, which companies do they recommend?
  • Are you getting all the discounts the company offers?
  • Do you have coverage for a rental car if your vehicle is in the repair shop?

The type of insurance agency you choose is important

If you’re trying to find local Mankato agents, you must know there are a couple types of insurance agents to choose from. Agents are classified as either independent (non-captive) or captive.

Captive Insurance Agents

This type of agents have only one company to place business with and examples are Allstate, AAA, Liberty Mutual and State Farm. These agents are unable to provide prices from multiple companies so keep that in mind. Captive agents are well schooled on their products and sales techniques and that can be a competitive advantage. Consumers frequently buy from captive agents primarily because of the brand legacy and solid financial strength.

Below is a list of captive agencies in Mankato who may provide you with rate quotes.

  • Farmers Insurance Group – 821 N 2nd St # 201 – Mankato, MN 56001 – (507) 625-3306
  • Allstate Insurance – 117 E Hickory St # 101 – Mankato, MN 56001 – (507) 344-1980
  • American Family Insurance – 79 Navaho Ave – Mankato, MN 56001 – (507) 625-7101
  • State Farm Insurance – 1215 N Riverfront Dr # C – Mankato, MN 56001 – (507) 345-3606
Independent Agents (or Brokers)

Independent insurance agents are not locked into one company but instead can place your coverage with lots of companies and possibly get better coverage at lower prices. To transfer your coverage to a different company, an independent agent can move your coverage and you don’t have to find a new agent. When comparing rates, you should always get quotes from multiple independent agents for maximum quote selection. Many write coverage with different regional companies which can save you money.

Shown below are Mankato independent agents who can help you get price quote information.

  • Employee Benefits and Insurance – 201 N Broad St – Mankato, MN 56001 – (507) 385-1111
  • Matthew Barnes Agency – 1400 E Madison Ave # 322 – Mankato, MN 56001 – (507) 388-2968
  • Matthew Barnes Agency – 710 S 2nd St – Mankato, MN 56001 – (507) 388-2968
  • Federated Insurance Co – 104 Celestine Cir – Mankato, MN 56001 – (507) 625-5649
  • Peterson Agency – 908 N 2nd St – Mankato, MN 56001 – (507) 345-1122

For a full directory of Mankato insurance agents, please go to this site.

Once you have received positive feedback to your questions and a low price estimate, it’s possible that you found an auto insurance agent that meets your needs to properly service your car insurance policy.

More detailed Minnesota car insurance information is located at the Minnesota Department of Commerce website. Visitors are able to find disaster information, view agent and company licensing information, and discover disciplinary actions.

And the best car insurance company is…

Drivers change insurance companies for any number of reasons including an unsatisfactory settlement offer, delays in paying claims, unfair underwriting practices or delays in responding to claim requests. Regardless of your reason, choosing a new insurance company can be pretty painless.

Cheaper car insurance can be found online and with local Mankato insurance agents, and you need to comparison shop both to get a complete price analysis. Some insurance providers do not offer the ability to get a quote online and many times these smaller companies only sell through independent insurance agents.

As you go through the steps to switch your coverage, it’s a bad idea to sacrifice coverage to reduce premiums. Too many times, an insured cut full coverage only to find out they didn’t purchase enough coverage. Your strategy should be to buy enough coverage at an affordable rate.