If you want to find the absolute lowest rates, then the best way to find lower priced BMW X1 insurance is to make a habit of comparing prices annually from companies who provide car insurance in Minneapolis. Rate comparisons can be done by following these steps.
First, read and learn about the coverage provided by your policy and the things you can change to keep rates low. Many things that result in higher prices like speeding and an unfavorable credit rating can be remedied by making minor changes in your lifestyle. This article provides tips to get cheaper coverage and find overlooked discounts.
Second, request rate estimates from direct, independent, and exclusive agents. Exclusive and direct companies can only quote rates from a single company like Progressive and State Farm, while agents who are independent can provide rate quotes for a wide range of companies.
Third, compare the price quotes to your current policy to see if cheaper X1 coverage is available. If you can save money and buy the policy, make sure the effective date of the new policy is the same as the expiration date of the old one.
Fourth, give proper notification to your current agent or company of your decision to cancel your current auto insurance policy. Submit the application along with any required down payment for your new coverage. Immediately upon receiving it, safely store the certificate verifying coverage in your vehicle.
One important bit of advice is that you’ll want to compare similar limits and deductibles on each quote request and and to get prices from as many carriers as you can. Doing this provides a fair rate comparison and and a good selection of different prices.
It’s amazing but about 70% of customers have been with the same company for at least the last four years, and practically 40% of auto insurance customers have never compared quotes from other companies. Consumers in America could save $850 each year just by getting comparison quotes, but they feel it’s too difficult to go online and compare rates.
Compare quotes for Minneapolis BMW X1 insurance
The providers in the list below are our best choices to provide quotes in Minnesota. In order to find the best cheap car insurance in Minneapolis, we recommend you visit as many as you can to get the best price comparison.
Car insurance does more than just protect your car
Despite the fact that car insurance is not cheap in Minneapolis, insuring your vehicle is required for several reasons.
- The majority of states have minimum mandated liability insurance limits which means you are required to buy a specific minimum amount of liability in order to license the vehicle. In Minnesota these limits are 30/60/10 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you took out a loan on your X1, almost every bank will make it a condition of the loan that you carry insurance to guarantee loan repayment. If you default on your policy, the bank will be required to insure your BMW at a much higher rate and force you to pay for the expensive policy.
- Insurance safeguards both your assets and your vehicle. It will also provide coverage for hospital and medical expenses for you, your passengers, and anyone else injured in an accident. One policy coverage, liability insurance, also pays for attorney fees and expenses in the event you are sued. If you receive damage to your vehicle caused by a storm or accident, comprehensive (other-than-collision) and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of carrying enough insurance more than cancel out the cost, particularly when you have a large claim. The average driver in Minnesota is overpaying more than $850 per year so you should quote rates at every renewal to ensure rates are competitive.
How do Car Insurance Companies Determine BMW X1 Insurance Prices?
Smart consumers have a good feel for the factors that play a part in calculating the level of your policy premiums. If you know what determines premiums, this enables you to make decisions that may result in much lower annual insurance costs.
Listed below are some of the things used by your company to calculate premiums.
Cheaper rates by combining – Some insurers afford discounts to buyers that purchase more than one policy in the form of a multi-policy discount. Discounts can amount to anywhere from five to ten percent in most cases. If you currently are using one company, it’s still a good idea to check prices from other companies to help ensure you have the lowest rates. You may still save money even if you insure with multiple companies
Don’t let your coverage lapse – Having a gap between insurance policy dates will be a fast way to trigger a rate increase. In addition to paying higher rates, not being able to provide proof of insurance could earn you a revoked license or a big fine.
Deter vehicle theft – Buying a car that has a built-in theft deterrent system can get you a discount on your car insurance. Theft prevention devices such as GM’s OnStar, tamper alarm systems and vehicle immobilizers help track and prevent your car from being stolen.
Cars with good safety ratings means lower rates – Safe vehicles get lower rates. Vehicles engineered for safety reduce occupant injuries and any reduction in injury severity means less money paid by your insurance company and cheaper rates on your policy.
Your gender affects premiums – Statistics show females are less aggressive when driving. However, don’t assume that males are worse at driving than females. Both sexes have accidents at about the same rate, but the men tend to have higher claims. Men also statistically receive more major tickets such as DWI and reckless driving.
Insurance rates for married couples – Walking down the aisle can actually save you money compared to being single. Having a spouse generally demonstrates drivers are more stable financially and statistics show being married results in fewer claims.
Minor frequent insurance claims are not good – If you file a lot of claims you can look forward to higher rates. Insurance companies in Minnesota generally give lower rates to people that do not abuse their auto insurance. Your car insurance is intended for larger claims.
Don’t get traffic citations – Whether or not you get tickets influences premium rates substantially. Having just one speeding ticket may cause rates to rise forty percent or more. Drivers with clean records pay lower auto insurance prices than bad drivers. People who have dangerous tickets like reckless driving or DUI might be required by their state to complete a SR-22 to the state department of motor vehicles in order to continue driving.
Insurance loss probability for a BMW X1 – Insurers analyze past claim statistics as a tool for profitable underwriting. Vehicles that are shown to have higher claim frequency or loss amount will have increased rates.
The information below illustrates the compiled insurance loss statistics for BMW X1 vehicles. For each coverage type, the statistical loss for all vehicles, regardless of manufacturer or model, is set at 100. Values under 100 represent a good loss history, while values over 100 indicate frequent claims or an increased likelihood of larger losses.
| Vehicle Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| BMW X1 4dr 2WD | 99 | 86 | 113 | 90 | 95 | 87 |
| BMW X1 4dr 4WD | 103 | 96 | 120 | 73 | 69 | 82 |
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Insurance rates and discounts
Some insurance providers do not list the entire discount list very clearly, so we break down a few of the more common and also the more inconspicuous discounts that you can inquire about if you buy Minneapolis car insurance online. If you are not receiving all the discounts available, it’s possible you qualify for a lower rate.
- Discounts for Multiple Vehicles – Purchasing coverage when you have multiple cars or trucks on the same insurance policy can get a discount for every vehicle.
- Renewal Discounts – Some insurance companies reward drivers for renewing your policy before your current expiration date. This can save 10% or more.
- Mature Driver Discount – Seniors can get reduced rates.
- Savings for New Vehicles – Buying a new car model can be considerably cheaper due to better safety requirements for newer models.
- No Claims – Insureds with no claims or accidents are rewarded with significantly better rates on Minneapolis car insurance quote when compared with policyholders that have many claims.
- No Charge for an Accident – This isn’t a discount exactly, but companies like GEICO, Progressive, and Allstate will let one accident slide before they charge you more for coverage as long as you don’t have any claims for a specific time period.
- ABS and Traction Control Discounts – Vehicles equipped with ABS or steering control are safer to drive and therefore earn up to a 10% discount.
Just know that some credits don’t apply to the whole policy. Most only cut the price of certain insurance coverages like collision or personal injury protection. So even though you would think you could get a free insurance policy, you’re out of luck.
The best insurance companies and some of the discounts are outlined below.
- State Farm may have discounts that include accident-free, defensive driving training, good driver, multiple autos, good student, and multiple policy.
- Farmers Insurance discounts include business and professional, mature driver, electronic funds transfer, pay in full, youthful driver, and alternative fuel.
- GEICO offers discounts for daytime running lights, membership and employees, anti-theft, good student, emergency military deployment, and defensive driver.
- American Family has savings for air bags, accident-free, multi-vehicle, TimeAway discount, good driver, early bird, and bundled insurance.
- Nationwide has discounts for anti-theft, easy pay, family plan, good student, accident-free, and defensive driving.
- Progressive offers premium reductions for good student, online signing, online quote discount, continuous coverage, multi-policy, homeowner, and multi-vehicle.
When quoting, ask each company how many discounts you can get. Some of the earlier mentioned discounts might not be available to policyholders in your area. To find insurers that offer multiple discounts in Minneapolis, click here.
Exclusive or independent insurance agents
Some consumers just prefer to visit with an insurance agent and that is a smart decision Licensed agents are very good at helping people manage risk and help file insurance claims. A nice benefit of getting online price quotes is you can get cheap car insurance rates and also buy local. Putting coverage with neighborhood agents is still important in Minneapolis.
To help locate an agent, after submitting this form (opens in new window), your coverage information is emailed to local insurance agents who want to provide quotes for your coverage. It’s much easier because you don’t need to do any legwork since price quotes are sent to the email address you provide. If for some reason you want to get a price quote from a particular provider, you can always search and find their rate quote page and fill out their quote form.
If you’re trying to find an insurance agent, there are a couple of types of agencies and how they can service your needs differently. Agents in Minneapolis can be described as either exclusive or independent agents depending on their company appointments. Either type can sell affordable car insurance policies, but it’s important to point out why they differ because it can impact the type of agent you choose.
Independent Agents
Agents that elect to be independent are not employed by one company so they can insure your vehicles through many different car insurance companies enabling the ability to shop coverage around. If they find a cheaper price, your agent can just switch to a different company and you won’t have to switch agencies. When comparing car insurance rates, we recommend you compare quotes from a couple of independent agencies so that you have a good selection of quotes to compare. Most independent agents also contract with smaller regional carriers which may have better rates.
Featured below is a partial list of independent agencies in Minneapolis that may be able to provide free car insurance quotes.
- Erickson Insurance Agency
8525 Edinbrook Crossing #401 – Minneapolis, MN 55443 – (763) 657-7608 – View Map - Horizon Agency Inc
11000 W 78th St – Minneapolis, MN 55423 – (952) 944-2929 – View Map - Shamrock Agencies
1 Groveland Terrace #102 – Minneapolis, MN 55403 – (952) 474-0929 – View Map
Exclusive Agents
Agents that choose to be exclusive normally can only provide a single company’s rates such as Farmers Insurance and State Farm. These agents are not able to place coverage with different providers so it’s a take it or leave it situation. Exclusive agencies are well schooled on what they offer and that can be a competitive advantage. Some people will only purchase coverage from exclusives mostly because of the prominent brand name and solid financial strength.
Shown below are Minneapolis exclusive insurance agencies who can help you get price quote information.
- Allstate Insurance: Mohamud Isse
331 E Lake St – Minneapolis, MN 55408 – (612) 353-6667 – View Map - Allstate Insurance: Ed Scislow
5208 Bloomington Ave – Minneapolis, MN 55417 – (612) 353-5410 – View Map - Farmers Insurance – Gretchen Frana
5445 S 28th Ave – Minneapolis, MN 55417 – (612) 724-4309 – View Map
Picking an insurance agent shouldn’t rely on just the quoted price. Below are some questions you should ask.
- Do they specialize in personal lines coverage in Minneapolis?
- Do you need full coverage on every vehicle?
- Can you use your own choice of collision repair facility?
- Will the agent or a CSR service your policy?
- Does the agency have a positive business rating?
- Does their agency support local causes in Minneapolis?
- Do they make recommendations based only on price?
Minnesota auto insurance companies ranked
Picking the best insurer can be a challenge considering how many companies sell insurance in Minneapolis. The company information in the next section can help you analyze which car insurance companies you want to consider purchasing coverage from.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 99 | 100 | 90 | 92% | A++ | 97.4 |
| 21st Century | 89 | 86 | 100 | 88% | A | 92.7 |
| GEICO | 97 | 91 | 88 | 85% | A++ | 92.5 |
| Nationwide | 88 | 94 | 91 | 88% | A+ | 91.3 |
| AAA Insurance | 93 | 87 | 88 | 87% | A | 90.8 |
| Liberty Mutual | 91 | 91 | 92 | 87% | A | 90.7 |
| Safeco Insurance | 90 | 93 | 88 | 86% | A | 90.2 |
| State Farm | 91 | 94 | 80 | 88% | A++ | 90.2 |
| Travelers | 89 | 91 | 94 | 79% | A++ | 90.1 |
| American Family | 88 | 92 | 83 | 88% | A | 89.4 |
| Titan Insurance | 89 | 91 | 83 | 86% | A+ | 89.3 |
| Allstate | 90 | 90 | 84 | 85% | A+ | 89.1 |
| Progressive | 83 | 85 | 99 | 87% | A+ | 88.7 |
| Mercury Insurance | 87 | 95 | 87 | 84% | A+ | 88.3 |
| The Hartford | 87 | 89 | 84 | 87% | A+ | 88 |
| Esurance | 84 | 88 | 85 | 83% | A+ | 86 |
| Farmers Insurance | 79 | 88 | 84 | 87% | A | 84.7 |
| The General | 88 | 80 | 85 | 80% | A- | 84.5 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Smart consumers save more
Insureds switch companies for a number of reasons such as lack of trust in their agent, an unsatisfactory settlement offer, denial of a claim or even high prices. It doesn’t matter why you want to switch choosing a new insurance company can be easier than you think.
You just learned quite a bit of information on how to reduce BMW X1 insurance prices online in Minneapolis. The key concept to understand is the more companies you get rates for, the better likelihood of getting cheaper Minneapolis car insurance quotes. Drivers may even discover the best prices are with a lesser-known regional company.
Discount BMW X1 insurance in Minneapolis can be found on the web and from local agencies, and you need to price shop both so you have a total pricing picture. A few companies may not have internet price quotes and these regional insurance providers prefer to sell through independent agents.
To read more, link through to the following helpful articles:
- Distracted Driving Statistics (Insurance Information Institute)
- What Auto Insurance is Cheapest for Teenage Females in Minneapolis? (FAQ)
- What Car Insurance is Cheapest for a Honda Accord in Minneapolis? (FAQ)
- What Car Insurance is Cheapest for Teenage Males in Minneapolis? (FAQ)
- Cellphones, Texting and Driving (iihs.org)
- Neck Injury FAQ (iihs.org)
- Air Bags: Potential Dangers to Your Children (Insurance Information Institute)
- Vehicle Size and Weight FAQ (iihs.org)