Buying competitive car insurance for a Toyota Corolla in Minnesota relies on a lot of things such as your marital status, your address, and citations or violations on your driving record. Minnesota drivers pay around $936 a year for Corolla insurance, but that is a projection based upon a 30-year-old married male driver with full coverage and $250 deductibles.
When projecting a rate like this, the problem is that you are not 30 and maybe not even a male, possibly single instead of married, or maybe you rent instead of own your home. Just a minor difference in the rating criteria used to formulate rates can result in a big discrepancy in the policy cost.
Everyone has unique insurance needs, and this illustrates why the best way to find cheap insurance rates for your Toyota is to do the rate comparisons yourself.
Cheapest Toyota Corolla Insurance Rates
The trim level of your Corolla will be a contributing factor to the cost of coverage, so the rate you will pay to insure a Corolla LE will be $30 cheaper than the price to insure the fancier Corolla XRS model, as shown by the rates below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Corolla LE | $246 | $486 | $318 | $18 | $94 | $1,162 | $97 |
| Corolla S | $246 | $486 | $318 | $18 | $94 | $1,162 | $97 |
| Corolla XLE | $246 | $486 | $318 | $18 | $94 | $1,162 | $97 |
| Corolla XRS | $276 | $486 | $318 | $18 | $94 | $1,192 | $99 |
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Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Minnesota minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, multi-vehicle, and claim-free. Table data does not factor in vehicle garaging location which can affect prices substantially.
Minneapolis insurance companies ranked
Ending up with the best auto insurance company can be challenging considering how many companies sell coverage in Minneapolis. The company rank data shown below can help you choose which car insurance providers you want to consider comparing rates from.
The rankings below only include companies with a nationwide focus, so companies that only write business in Minnesota or surrounding areas are not included in the list. If you would like to check rates from the insurers below and more, click here.
| 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 |
| Allstate | 90 | 90 | 84 | 85% | A+ | 89.1 |
| Progressive | 83 | 85 | 99 | 87% | A+ | 88.7 |
| 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 |
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Data Source: Insure.com Best Car Insurance Companies
Responsible drivers pay cheaper insurance rates
In a perfect world, the best way to find cheap insurance rates in Minneapolis for a Corolla is to be an attentive driver and avoid getting tickets or having accidents. The example below shows how traffic citations and at-fault fender-benders can increase insurance costs for each age group. The data is based on a single male driver, comprehensive and collision coverage, $100 deductibles, and no policy discounts are applied.
The data above shows the average cost of car insurance in Minnesota per year with no accidents and a clean driving record is $2,365. Get one speeding ticket and the average cost rises to $2,660, an increase of $295 each year. Then add two accidents along with the one speeding ticket and the annual cost of insurance for a Toyota Corolla jumps again to an average of $5,086. That’s an increase of $2,721, or $227 per month, just for being a little careless behind the wheel!
The chart below shows how choosing a deductible can affect yearly insurance costs when trying to find cheap insurance for a Toyota Corolla. The data assumes a single male driver, comprehensive and collision coverage, and no other discounts are factored in.
In the chart above, a 50-year-old driver could cut expenses by $354 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $530 by changing to a $1,000 deductible. Youthful drivers, like the 20-year-old example, could lower their rates up to $1,176 annually just by choosing higher deductibles when buying full coverage. When choosing a higher deductible, it will be required to have emergency funds available to allow you to pay the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.
If you aren’t clear which coverage you need and would like to get some guidance when shopping for the best coverage for a Corolla, the agents below are willing to provide answers to your questions and help you determine which policy fits your needs best.
To locate a Minneapolis insurance agent closest to you, click the button link following the list or click here to compare price quotes.
- Oakwood Insurance Inc
5188 Central Ave NE – Minneapolis, MN 55421 – (763) 862-4800 - Moon Lai – State Farm Insurance Agent
2718 Nicollet Ave #204 – Minneapolis, MN 55408 – (612) 870-0800 - Alisho Dependable Ins. Agency
1929 S 5th St #104 – Minneapolis, MN 55454 – (612) 354-2576
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How to find budget-friendly auto insurance for a Toyota Corolla
It’s not impossible to find cheaper rates, and here are some of the better thrifty solutions that can help Minneapolis drivers quote more affordable coverage.
- Improve your credit rating
- Prevent price hikes by avoiding at-fault accidents
- Safe vehicles cost less to insure
- Do not get traffic violations
- Drop full coverage on older vehicles
- Increase your deductibles
- Compare rates once a year for cheaper prices
The last suggestion is notably vital, as we noted in this write-up. Prices charged by auto insurers change constantly, so don’t be unwilling to buy a different policy if a better deal can be had. Having brand loyalty is commendable, but we do not recommend it if that loyalty ends up costing a small fortune year after year. It only take a few minutes to compare rates to find cheaper car insurance for a Toyota Corolla in Minneapolis.