The words “affordable” and “insurance” really don’t belong together, especially when trying to find the best insurance rates for 20 year old women. Let’s go over some of the factors that influence auto insurance prices, and see how we can help you take the sting out of the next policy you buy.
The vehicle that needs insurance is one of the main factors in finding the best cheap auto insurance for 20 year old women. Vehicles with more horsepower, poor safety features, or high incidents of liability claims will cost quite a bit more to insure than safer models.
The table below ranks car insurance prices for a number of the most budget-friendly vehicles to insure.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $2,953 |
| Ford Escape XLS 2WD | $2,958 |
| Toyota Prius | $3,231 |
| Toyota Tacoma 4WD | $3,313 |
| Ford Explorer Eddie Bauer 2WD | $3,323 |
| Jeep Wrangler Sahara 4WD 2-Dr | $3,313 |
| Toyota RAV4 Limited 2WD | $3,502 |
| Jeep Grand Cherokee Laredo 4WD | $3,510 |
| Chevrolet Malibu Hybrid | $3,502 |
| Ford F-150 SVT Raptor Super Cab 4WD | $3,547 |
| Dodge Grand Caravan Crew | $3,555 |
| Honda Civic LX 4-Dr Sedan | $3,647 |
| Chevrolet Impala LTZ | $3,692 |
| Hyundai Elantra GLS 4-Dr Sedan | $3,701 |
| Ford Edge Sport 2WD | $3,692 |
| Toyota Corolla S | $3,699 |
| Toyota Camry SE | $3,692 |
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Data assumes single female driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Minnesota minimum liability limits. Discounts applied include safe-driver, and claim-free. Table data does not factor in specific Minneapolis, MN garaging location which can decrease or increase prices noticeably.
By looking at the data, we can expect vehicles like the Honda CR-V, Ford Escape, and Toyota Prius should be a few of the cheapest vehicles to insure for young women. The price for an auto insurance policy will tend to be higher just because there is more exposure for 20 year old women, but generally speaking those particular vehicles will most likely have the cheapest auto insurance rates available.
Finding reliable, cheap car insurance is not easy, and figuring out which company offers the lowest-priced insurance rates for 20 year old women involves more quotes for comparison. Each auto insurance company has their own unique process to determine premium rates, so let’s begin by taking a look at the insurance companies that tend to be cheaper in Minneapolis, MN.
It’s a good idea to be aware that Minneapolis insurance rates are influenced by many factors that may substantially change the price you have to pay for coverage. Price variation is why Minnesota drivers need to compare rates to get the most budget-friendly car insurance rates for 20 year old women. Auto insurance prices are made up of many different factors and change dramatically, so the cheapest option three years ago may now be costing you a lot of money.
Find Cheaper Auto Insurance for Women Age 20
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $661 |
| 2 | USAA | $799 |
| 3 | Farm Bureau Mutual | $813 |
| 4 | Western National | $901 |
| 5 | The Hartford | $936 |
| 6 | West Bend Mutual | $943 |
| 7 | Allied | $1,210 |
| 8 | California Casualty | $1,214 |
| 9 | State Farm | $1,226 |
| 10 | American Family | $1,242 |
| 11 | Auto-Owners | $1,282 |
| 12 | General Casualty | $1,313 |
| 13 | Auto Club Group | $1,352 |
| 14 | North Star | $1,390 |
| 15 | Nationwide | $1,406 |
| 16 | Farmers | $1,407 |
| 17 | Country | $1,412 |
| 18 | Progressive | $1,420 |
| 19 | Allstate | $1,423 |
| 20 | MetLife | $1,581 |
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Travelers may offer some of the lowest car insurance rates in Minneapolis at around $661 per year. This is $760 less than the average policy premium paid by Minnesota drivers of $1,421. USAA, Farm Bureau Mutual, Western National, and The Hartford also rank well as some of the cheaper Minneapolis, MN car insurance companies.
As shown above, if you currently have coverage with USAA and switched to Travelers, you could see an annual savings of about $138. Drivers with Farm Bureau Mutual may save as much as $152 a year, and Western National customers might realize rate reductions of up to $240 a year.
Bear in mind that those prices are averages across all types of drivers and the different vehicles they drive and do not take into consideration an exact zip code location for 20 year old women. So the insurer that can offer the best rates for your situation may not even be in the top 24 companies shown above. That points out the importance of why you need to compare rates from multiple companies using your own individual information.
Full coverage versus liability-only in Minneapolis
Lowering the price of insurance is probably important to the majority of vehicle owners, and an effective way to save on the cost of insurance for 20 year old women is to not buy full coverage. The example below compares premium costs with full coverage and liability only. The rates are based on no violations or accidents, $100 deductibles, drivers are single, and no discounts are applied to the premium.
If we average the cost for ages 20 through 70, physical damage insurance costs $2,479 per year more than just insuring for liability. Many people question if you should buy full coverage. There is no set rule of when to stop paying for physical damage coverage on your policy, but there is a guideline you can consider. If the annual cost of having full coverage is more than around 10% of the vehicle’s replacement cost less your deductible, the it may be a good time to stop paying for full coverage.
How to get discounts on Minneapolis insurance
Insurance providers that offer coverage for 20 year old women could also offer premium discounts that can reduce rates by as much as 30% if you are eligible for them. A list of companies and a selection of discounts are outlined below.
- GEICO offers discounts for driver training, daytime running lights, multi-vehicle, defensive driver, federal employee, anti-lock brakes, and seat belt use.
- MetLife includes discounts for defensive driver, accident-free, good student, claim-free, multi-policy, and good driver.
- State Farm policyholders can earn discounts including accident-free, multiple policy, multiple autos, student away at school, and passive restraint.
- Progressive offers premium reductions for online quote discount, continuous coverage, good student, multi-policy, and online signing.
- Mercury Insurance has savings for anti-theft, accident-free, multi-car, annual mileage, good student, and multi-policy.
- 21st Century may offer discounts for early bird, 55 and older, driver training, student driver, anti-lock brakes, automatic seat belts, and homeowners.
- Allstate offers discounts including senior citizen, premier discount, good student, resident student, new car, utility vehicle, and defensive driver.
The illustration below shows the comparison of auto insurance rates with and without policy discounts. The premium estimates are based on a male driver, no violations or claims, Minnesota state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows the price with no discounts. The second bar shows the rates with anti-theft, paid-in-full, passive restraint, paperless filing, continuous coverage, and vehicle safety discounts applied. With discounts applied, theaverage yearly reduction on insurance for 20 year old women is 19% or $282.
Tips for finding the cheapest auto insurance for 20 year old women
Lowering your rates is not difficult, and here are many penny-pinching suggestions that can help you locate lower-cost car insurance.
- Do not get traffic violations
- At-fault accidents can raise rates significantly
- Higher credit ratings may save you money
- If your vehicles are older, consider dropping full coverage
- Vehicles with safetly features generally cost less to insure
- Increase physical damage deductibles
- Comparison shop frequently
The last tip in the list is highly critical, as was discussed in this piece. Car insurance prices vary considerably, so don’t hesitate to buy from a new company if a better deal can be had.
Having a favorite company is great, but it’s not a good idea if that dedication is costing hundreds every year. In just a few minutes you could compare prices to find cheaper auto insurance for 20 year old women in Minneapolis.