The words “affordable” and “auto insurance” probably shouldn’t be used in the same sentence, especially when you are trying to find the lowest insurance rates for teachers. Let’s teach you some things that can significantly affect insurance rates, and come up with some ways to take the bite out of your next policy.
One of the many components that aid in calculating the amount you pay each year for auto insurance is where you live. Areas with more people or more claims tend to have more expensive auto insurance rates, whereas areas with less people or fewer weather incidents have the luxury of lower rates.
The table below lists the priciest cities in Minnesota for teachers to buy car insurance in. Minneapolis is ranked at #2 with an annual cost of $2,058 for the average policy, which is approximately $172 per month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Maplewood | $2,066 |
| 2 | Minneapolis | $2,058 |
| 3 | Saint Paul | $2,049 |
| 4 | Brooklyn Park | $1,816 |
| 5 | Duluth | $1,794 |
| 6 | Coon Rapids | $1,792 |
| 7 | Blaine | $1,784 |
| 8 | Edina | $1,777 |
| 9 | Richfield | $1,760 |
| 10 | Bloomington | $1,756 |
| 11 | Saint Louis Park | $1,754 |
| 12 | Lakeville | $1,717 |
| 13 | Plymouth | $1,714 |
| 14 | Eagan | $1,712 |
| 15 | Shakopee | $1,710 |
| 16 | Burnsville | $1,709 |
| 17 | Woodbury | $1,680 |
| 18 | Maple Grove | $1,673 |
| 19 | Minnetonka | $1,672 |
| 20 | Apple Valley | $1,663 |
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Table data uses approximated as the specific area where the vehicle is garaged can revise coverage rates significantly.
Comparing quotes for low-priced car insurance is challenging, and determining which companies quote the cheapest car insurance rates for teachers will require more quotes for comparison. Each insurance company uses different criteria for filing rates in each state, so to begin we’ll rank the car insurance companies with the overall cheapest rates in Minneapolis.
Compare Cheap Insurance Quotes for Educators
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $647 |
| 2 | Farm Bureau Mutual | $805 |
| 3 | USAA | $831 |
| 4 | Western National | $928 |
| 5 | The Hartford | $936 |
| 6 | West Bend Mutual | $952 |
| 7 | Allied | $1,210 |
| 8 | State Farm | $1,226 |
| 9 | American Family | $1,242 |
| 10 | California Casualty | $1,251 |
| 11 | General Casualty | $1,313 |
| 12 | Auto-Owners | $1,321 |
| 13 | Auto Club Group | $1,352 |
| 14 | Nationwide | $1,364 |
| 15 | Farmers | $1,393 |
| 16 | North Star | $1,404 |
| 17 | Progressive | $1,420 |
| 18 | Country | $1,427 |
| 19 | Allstate | $1,481 |
| 20 | MetLife | $1,549 |
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Travelers quotes some of the cheapest car insurance rates in Minneapolis at around $647 per year. This is $774 less than the average policy premium paid by Minnesota drivers of $1,421. Farm Bureau Mutual, USAA, Western National, and The Hartford also qualify as some of the cheapest Minneapolis, MN auto insurance companies.
In this example, if you are a customer of The Hartford and switched to Farm Bureau Mutual, you might realize a yearly price reduction of upwards of $131. Minnesota drivers with West Bend Mutual may save as much as $147 a year, and Allied insureds might see rate reductions of $405 a year.
Remember that these prices are averages for all drivers and vehicles in Minnesota and and are not calculated with a specific vehicle garaging location for teachers. So the company that fits your age and vehicle best may not even be in the list above. That affirms the importance of why you need to compare rates from multiple companies using your own personalized driver profile and vehicle information.
The example below demonstrates how choosing different deductibles can increase or decrease insurance costs when trying to find cheap insurance for teachers. The data is based on a single male driver, full coverage, and no other discounts are factored in.
In the chart above, a 40-year-old driver could pocket $364 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $546 by selecting a $1,000 deductible. Younger drivers, like the 20-year-old example, could save as much as $1,202 each year by using higher deductibles when buying full coverage.
When raising deductibles, it is essential to have enough spare savings to pay the extra out-of-pocket expense, which deters some people from using high deductibles.
Selecting the best car insurance company can be difficult considering how many choices drivers have in Minnesota. The information in the lists below can help you pick which coverage providers to look at when shopping around. The rankings below only include the largest auto insurers in America, so smaller regional companies are not included in the list.
| 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
Why are you paying too much for Minneapolis car insurance?
Minnesota car insurance rates are based on many factors that can increase your annual premium. Simply turning a year older, buying a home instead of renting, or getting into an accident can trigger changes in premium that can make some companies more affordable than the competition. And not only may your rating factors change, but insurers modify pricing as often as every quarter to ensure their profitability. Significantly higher claims may result in additional price hikes, while lower claim levels can cause cheaper Minneapolis car insurance rates.
The chart below shows the companies that have the cheapest car insurance in Minneapolis, MN for a 30-year-old female driver with no accidents, a clean driving record, and a good credit rating. If we estimate rates based on her current rating profile, Travelers has the lowest car insurance rates in Minneapolis at $860 annually. This is $561 less than the average rate paid by Minnesota drivers of $1,421. Farm Bureau Mutual, USAA, Western National, and West Bend Mutual also make the list of the best Minneapolis, MN auto insurance companies.
In this example, we will give the driver from the first set of rates a chargeable claim, a lower credit rating, and a few traffic violations. Since every insurance provider has a unique formula for setting rates, comparing quotes most likely will result in a significantly different list of affordable companies as shown below.
USAA now has the best car insurance rate in Minneapolis, MN with Farm Bureau Mutual, Allied, Travelers, and California Casualty now rounding out the top five. This example proves why Minneapolis drivers need to compare lots of rates to find the most economical auto insurance rates for teachers. Prices are influenced by many factors and can decrease or increase without notice, so the most affordable company the last time you checked may now cost much more than other companies.