The words “low-priced” and “insurance” really should not be used together, specifically when you are shopping around for the lowest insurance rates for high mileage drivers. Because it’s not cheap, let’s learn about some situations that determine car insurance premiums, and find a few ways to take the bite out of your next policy.
For high mileage drivers, one of the more important things that determine auto insurance rates is where your residence is in Minneapolis. More populated areas will most likely pay more, whereas areas that tend to be more rural get the luxury of paying less.
The information below shows the highest-priced places in Minnesota for high mileage drivers in which to purchase auto insurance. Minneapolis makes the list at #2 with a yearly premium of $2,018 on average, which is approximately $168 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Maplewood | $2,066 |
| 2 | Minneapolis | $2,018 |
| 3 | Saint Paul | $1,988 |
| 4 | Brooklyn Park | $1,798 |
| 5 | Duluth | $1,794 |
| 6 | Saint Louis Park | $1,772 |
| 7 | Bloomington | $1,756 |
| 8 | Woodbury | $1,748 |
| 9 | Richfield | $1,742 |
| 10 | Coon Rapids | $1,739 |
| 11 | Blaine | $1,731 |
| 12 | Edina | $1,725 |
| 13 | Maple Grove | $1,724 |
| 14 | Lakeville | $1,717 |
| 15 | Eagan | $1,712 |
| 16 | Burnsville | $1,709 |
| 17 | Minnetonka | $1,706 |
| 18 | Shakopee | $1,693 |
| 19 | Plymouth | $1,663 |
| 20 | Eden Prairie | $1,655 |
| 21 | Saint Cloud | $1,652 |
| 22 | Rochester | $1,639 |
| 23 | Apple Valley | $1,631 |
| 24 | Moorhead | $1,550 |
| 25 | Mankato | $1,489 |
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Rates are approximated as the specific zip code location can lower or raise insurance rates considerably.
The make and model of vehicle requiring coverage is a large consideration when quoting the best cheap coverage for high mileage drivers. Vehicles with higher performance, a lack of modern safety features, or a high likelihood of having liability claims will cost significantly more to insure than more modest models.
The data below outlines insurance prices for a handful of the cheaper automobiles to insure.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $1,504 |
| Hyundai Elantra GLS Touring Station Wagon | $1,648 |
| Ford Escape XLT 2WD | $1,654 |
| Toyota Prius | $1,667 |
| Honda Accord EX 4-Dr Sedan | $1,697 |
| Toyota Tacoma Double Cab 4WD | $1,780 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,794 |
| Toyota Camry SE | $1,877 |
| Chevrolet Silverado LT Extended Cab 2WD | $1,907 |
| Jeep Grand Cherokee Limited 4WD | $1,910 |
| Nissan Altima Hybrid 4-Dr Sedan | $1,916 |
| Chevrolet Equinox LS 2WD | $1,952 |
| Ford Focus SE 4-Dr Sedan | $1,965 |
| Ford Edge SEL AWD | $1,975 |
| Ford Explorer Limited AWD | $1,990 |
| Chevrolet Malibu Hybrid | $2,010 |
| Toyota RAV4 Limited 4WD | $2,020 |
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Table data represents single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Minnesota minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, multi-policy, and safe-driver. Information does not factor in specific location which can raise or lower auto insurance rates significantly.
Based upon the rates shown, you can see that models like the Honda CR-V, Hyundai Elantra, and Ford Escape are likely to be a few of the most economical vehicles to insure for high mileage drivers.
The illustration below demonstrates how deductibles can raise or lower insurance costs when trying to find cheap insurance for high mileage drivers. The information is based on a married female driver, comprehensive and collision coverage, and no discounts are factored in.
As shown above, a 30-year-old driver could pocket $340 a year by changing from a $100 deductible up to a $500 deductible, or save $512 by using a $1,000 deductible. Young drivers, like the Age 20 category, can save $724 or more just by choosing higher deductibles when buying full coverage.
If you do decide to increase your deductibles, it will be required to have plenty of savings on hand to offset the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.
Price comparison of only insuring for liability
Saving money on insurance is important to the majority of people, and one of the best ways to reduce the cost of insurance for high mileage drivers is to buy only liability coverage. The diagram below illustrates the difference between insurance costs with full physical damage coverage and with liability coverage only. The premium estimates are based on no accidents or driving violations, $1,000 deductibles, drivers are single, and no policy discounts are applied.
If we average the cost for all age groups, full coverage costs $1,445 per year over liability only. That is a significant amount which raises the question if it’s a good idea to buy full coverage. There is no set rule to exclude full coverage on your policy, but there is a broad guideline. If the annual cost of your full coverage insurance is about 10% or more of any settlement you would receive from your insurance company, the it may be a good time to stop paying for full coverage.
Buying coverage from a high-quality auto insurance company can be challenging considering how many companies sell coverage in Minnesota. The information in the next section may help you decide which providers to look at putting your business with.
These rankings include large, nationwide insurance companies, so companies without a large exposure are not factored into this list. If you wish to compare prices from the insurers below and more, follow this link.
Top 10 Major Auto Insurance Companies in Minneapolis Ranked by Customer Service
- State Farm
- Nationwide
- Safeco Insurance
- American Family
- Travelers
- Liberty Mutual
- GEICO
- Allstate
- The Hartford
- Farmers Insurance
Top 10 Major Auto Insurance Companies in Minneapolis Ranked by A.M. Best Rating
- USAA – A++
- Travelers – A++
- State Farm – A++
- GEICO – A++
- Nationwide – A+
- Esurance – A+
- The Hartford – A+
- Progressive – A+
- Allstate – A+
- The General – A-
How to find cheaper car insurance for high mileage drivers
Below you’ll find some thrifty ideas that can help you locate cheap car insurance.
- Buying car and homeowners insurance together can save money
- Raise deductibles
- Do not pay for full coverage if not needed
- Save money by staying claim-free
- Safer vehicles generally have cheaper insurance rates
- Increase your credit rating
- Compare rate quotes often
The last idea is remarkably necessary, as was discussed in this write-up. Prices charged by auto insurers in Minneapolis can be adjusted at any time, so don’t be afraid to switch to a new company if a cheaper rate is available.
Brand loyalty is not necessarily bad, but we do not recommend it if that dedication is costing money that could be used for better things. It only takes a couple minutes to compare rates and find cheaper auto insurance for high mileage drivers.
If you prefer to have a professional recommendation when trying to find lower insurance rates for high mileage drivers, the agents shown below are willing to help you determine which policy fits your needs best. To find an agent using an interactive map, click the link after the list.
- American Family Insurance – Dawn Bartell
4649 Bloomington Ave – Minneapolis, MN 55407 – (612) 333-5554 - Allstate Insurance: Mohamud Isse
331 E Lake St – Minneapolis, MN 55408 – (612) 353-6667 - Allstate Insurance: Lois A. Castaneda
127 W Grant St, # C – Minneapolis, MN 55403 – (612) 871-6830 - Farmers Insurance – Mark Hansen
6001 Portland Ave – Minneapolis, MN 55417 – (612) 869-7760 - Bernie Glover Insurance Agency
2520 Lowry Ave N – Minneapolis, MN 55411 – (612) 522-6531