Who Has Affordable Minneapolis Auto Insurance for 19 Year Olds?

Finding out which insurers offer the most affordable auto insurance rates for 19 year olds will require more work in order to find the most economical policy.

Each insurer has a unique formula for determining rates, so let’s examine the most affordable auto insurance companies in Minneapolis. It’s important that readers know that Minneapolis, MN auto insurance rates are based on many factors that will increase or decrease the price you pay for coverage. Improving your credit score, moving to a new city, or having an at-fault accident can cause premium changes that can now make some companies cheaper than competitors.

Best Insurance Companies for Teens

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Travelers has some of the best car insurance rates in Minneapolis at around $641 a year. Farm Bureau Mutual, USAA, The Hartford, and Western National would also be considered some of the cheaper Minneapolis, MN car insurance companies.

In this example, if you currently buy coverage from Farm Bureau Mutual and switched to Travelers, you might realize an annual premium reduction of in the neighborhood of $164. Policyholders with USAA may save as much as $190 a year, and The Hartford policyholders might cut rates by $285 a year.

To get a quick, customized rate comparison, click here to start a quote or quote rates from the companies below.

It’s important to note that these rates are averages for all types of insureds and vehicles and are not factoring in a vehicle location for 19 year olds. So the car insurance company that can offer you the best rate may not even be in the top 24 companies shown above. That points out the importance of why you need to compare rates from as many companies as possible using your own personalized driver profile and vehicle information.

The make and model of vehicle you are insuring is probably the largest consideration that determines the availability of low-priced coverage for 19 year olds. Vehicles with high performance engines, a lack of modern safety features, or a history of substantial liability claims will cost much more to insure than more modest models.

The data below outlines coverage prices for some of the more affordable vehicles to insure in Minnesota.

Premium data assumes single female driver age 19, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Minnesota minimum liability limits. Discounts applied include claim-free, and safe-driver. Price estimates do not factor in specific location information which can alter price quotes considerably.

Based upon these rates, you can assume that vehicles like the Hyundai Elantra, Honda Accord, Honda CR-V, and Ford Escape are a few of the most budget-friendly vehicles to insure for teenage drivers. Car insurance rates will tend to be more expensive anyway just because there is more claim risk for 19 year olds, but overall those specific models will have the best rates compared to other vehicles.

One of the many considerations that are looked at to determine the cost of insurance is where your car is garaged. Larger areas are more likely to pay higher prices, whereas areas that tend to be more rural have the benefit of cheaper car insurance.

The table below ranks the most expensive cities in Minnesota for 19 year olds to purchase auto insurance in. Minneapolis makes the list at #1 with the annual price of $2,079 on average, which is about $173 monthly.

Premium costs are approximated as specific Minneapolis garaging address can lower or raise coverage rates considerably.

Get discounts on Minneapolis insurance

Insurance providers that sell policies for 19 year olds may have price discounts that could lower prices by 25% or more if you meet specific criteria. A few of the larger companies and a partial list of their discounts are shown below.

• State Farm has savings for multiple autos, Steer Clear safe driver discount, safe vehicle, anti-theft, Drive Safe & Save, and driver’s education.
• Farmers Insurance has discounts for homeowner, teen driver, youthful driver, switch companies, and bundle discounts.
• GEICO discounts include federal employee, multi-vehicle, membership and employees, anti-theft, multi-policy, anti-lock brakes, and military active duty.
• American Family offers discounts including air bags, bundled insurance, mySafetyValet, multi-vehicle, early bird, good student, and accident-free.
• Nationwide policyholders can earn discounts including Farm Bureau membership, easy pay, accident-free, multi-policy, anti-theft, and good student.
• Progressive includes discounts for continuous coverage, online quote discount, multi-vehicle, good student, homeowner, multi-policy, and online signing.

The diagram below visualizes the comparison of auto insurance costs with and without some available policy discounts. The rates are based on a female driver, a clean driving record, no claims, Minnesota state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with multiple policy, defensive driving course, homeowner, vehicle safety, safe-driver, and claim-free discounts applied. With discounts applied, the average savings per year on auto insurance for 19 year olds is 28% or $762.

Picking a highly-rated insurer can be difficult considering how many different companies there are to choose from in Minneapolis. The rank data below may help you pick which car insurance providers you want to consider comparing rate quotes with. These rankings are only comprised of the largest companies in the United States, so companies that focus mainly on Minnesota business are not factored into this list.

Top 10 Major Auto Insurance Providers in Minneapolis Ranked by Value

1. USAA
2. GEICO
3. AAA Insurance
4. Liberty Mutual
5. State Farm
6. Allstate
7. Safeco Insurance
8. Travelers
9. 21st Century
10. Nationwide

Top 10 Major Auto Insurance Providers in Minneapolis Ranked by Customer Satisfaction

1. USAA – 92%
2. American Family – 88%
3. State Farm – 88%
4. Nationwide – 88%
5. 21st Century – 88%
6. The Hartford – 87%
7. Progressive – 87%
8. AAA Insurance – 87%
9. Farmers Insurance – 87%
10. Liberty Mutual – 87%

Irresponsible driving raises your rates

The obvious way to score cheap auto insurance prices in Minneapolis for teenage drivers is to be a good driver and avoid getting tickets or having accidents. The illustration below shows how traffic citations and accidents can influence insurance costs for different age groups of insureds. Data assumes a married female driver, full physical damage coverage, $1,000 deductibles, and no discounts are taken into consideration.

In the example above, the average cost of car insurance per year with no accidents and a clean driving record is $1,357. Add in two speeding tickets and the average cost increases to $1,921, an increase of $564 each year. Then throw in two accidents along with the two speeding tickets and the 12-month cost of auto insurance for 19 year olds increases to an average of $4,289. That’s an increase of $2,932, or $244 per month, just for not driving attentively!

Who has the cheapest Minneapolis car insurance?

Minnesota auto insurance rates are impacted by many things that can increase the cost of a policy. Getting older, getting married, or getting into an accident may generate price changes that may make certain companies more affordable than the competition.

Not only may your risk profile change, but auto insurance companies change the rates they charge in Minnesota multiple times each year to adjust for gains or losses. An extended period of higher than normal claims can cause higher rates, while a lower level of claims may cause lower-priced Minneapolis car insurance rates.

For instance, the bar chart below shows which company has the cheapest car insurance in Minneapolis, MN for a 35-year-old male driver with no violations or accidents, and great credit. If we estimate prices based on his current risk factors, Travelers offers the lowest car insurance rates in Minneapolis at $913 a year. This is $508 less than the average premium paid by Minnesota drivers of $1,421. USAA, Farm Bureau Mutual, The Hartford, and Western National are also on the list of the cheapest Minneapolis, MN auto insurance companies.

The example below compares rates after we give the driver in the first example an accident surcharge, slightly worse credit, and a couple of points charged on his driving record. Since every car insurance company has a proprietary formula for filing rates in each state, comparing quotes may result in a completely different list of affordable Minneapolis car insurance companies as shown below.

USAA now has the lowest price on auto insurance in Minneapolis with Allied, Farm Bureau Mutual, State Farm, and California Casualty now being in the top five. This example shows why consumers need to take the time to compare as many rates as possible to get the most budget-friendly auto insurance rates for 19 year olds.

Insurance rates can be altered by many risk factors and can change without notice, so the cheapest option the last time you shopped around may now be wasting a lot of money.

The insurance agencies below can probably help you determine which coverage fits your budget, as some people have coverage questions and would like to have a little guidance when comparing insurance rates for 19 year olds. It can be difficult to find the cheapest car insurance policy, so a licensed agent can provide you satisfaction knowing your policy gives you enough protection.

To find an auto insurance agency in your neighborhood, click the button link following the list.

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