Amazingly, a recent NerdWallet.com study showed that the vast majority of auto insurance customers have stayed with the same insurance company for four years or more, and nearly 40% of drivers have never quoted auto insurance rates at all. Minnesota drivers can save hundreds of dollars each year by just comparing rate quotes, but most tend to underestimate the big savings they would realize if they switch to a new company.
The most effective way to find low-cost car insurance rates in Minneapolis is to do an annual price comparison from companies who provide car insurance in Minnesota. You can compare prices by following these guidelines.
First, get an understanding of coverages and the factors you can control to prevent rate increases. Many policy risk factors that cause rate increases like speeding tickets, careless driving and an imperfect credit history can be controlled by making minor changes to your lifestyle. This article gives instructions to help keep rates affordable and get bigger discounts that may have been overlooked.
Second, compare rates from direct, independent, and exclusive agents. Exclusive and direct companies can provide rates from one company like Progressive or Farmers Insurance, while independent agencies can provide prices for a wide range of insurance providers.
Third, compare the new rate quotes to your current policy to determine if switching companies saves money. If you can save some money and buy the policy, make sure coverage does not lapse between policies.
Fourth, give notification to your current company to cancel your current policy and submit a down payment along with a completed application to the new insurer. As soon as you receive it, place the new certificate of insurance with your vehicle’s registration.
A good tip to remember is that you’ll want to make sure you compare identical deductibles and limits on each price quote and and to get rate quotes from every insurance company. This provides an accurate price comparison and maximum price selection.
The method we recommend to compare insurance rates in your area takes advantage of the fact all the major auto insurance companies have advanced systems to give free rates quotes. All you need to do is take a few minutes to give details such as whether or not you need a SR-22, level of coverage desired, your education level, and if you lease or own. That information is submitted instantly to many different companies and they return quotes instantly.
To compare multiple company affordable Audi R8 insurance rates now, click here and enter your zip code.
The companies shown below provide free quotes in Minnesota. To get the best cheap auto insurance in Minnesota, we suggest you compare several of them to get the best price comparison.
Why you need auto insurance
Even though it can be expensive, auto insurance may be mandatory for several reasons.
- Almost all states have compulsory liability insurance requirements which means it is punishable by state law to not carry a minimum amount of liability in order to be legal. In Minnesota these limits are 30/60/10 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you took out a loan on your vehicle, almost every bank will stipulate that you have insurance to ensure the loan is repaid in case of a total loss. If the policy lapses, the lender may have to buy a policy to insure your Audi at a much higher rate and force you to pay much more than you were paying before.
- Insurance safeguards not only your car but also your financial assets. Insurance will pay for most medical and hospital costs for yourself as well as anyone injured by you. Liability insurance, one of your policy coverages, will also pay for a defense attorney if you are named as a defendant in an auto accident. If your car is damaged in a storm or accident, collision and comprehensive coverages will pay to repair the damage.
The benefits of carrying adequate insurance are without a doubt worth the cost, especially with large liability claims. In a recent study of 1,000 drivers, the average customer is currently overpaying as much as $855 a year so you should quote your policy with other companies once a year at a minimum to help ensure money is not being wasted.
Facts and figures for Audi R8 insurance
The price information shown next showcases detailed analysis of insurance policy prices for Audi R8 models. Having a good grasp of how policy premiums are determined can assist in making informed decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| R8 4.2 Quattro | $448 | $1132 | $412 | $24 | $124 | $2,140 | $178 |
| R8 4.2 Quattro | $448 | $1132 | $412 | $24 | $124 | $2,140 | $178 |
| R8 5.2 Quattro 10Cyl | $538 | $1340 | $412 | $24 | $124 | $2,438 | $203 |
| R8 5.2 Quattro 10Cyl | $538 | $1340 | $412 | $24 | $124 | $2,438 | $203 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Minnesota minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, claim-free, and homeowner. Rate quotes do not factor in Minneapolis location which can decrease or increase coverage rates significantly.
The example below highlights how deductible choice and can influence Audi R8 premium costs for different age groups of insureds. The data assumes a single female driver, comp and collision included, and no policy discounts are applied.
These discounts can reduce Audi R8 insurance rates
Properly insuring your vehicles can get expensive, but you may qualify for discounts to help offset the cost. A few discounts will be applied at the time of quoting, but less common discounts must be asked about before you will receive the discount.
- Military Rewards – Being deployed in the military could be rewarded with lower prices.
- ABS Brakes – Cars and trucks with ABS and/or traction control have fewer accidents and will save you 10% or more on R8 insurance in Minneapolis.
- Passive Restraint Discount – Vehicles with factory air bags may get savings of up to 25% or more.
- Own a Home – Being a homeowner may trigger a policy discount on auto insurance because owning a home is proof of financial responsibility.
- Accident Forgiveness – This isn’t a discount exactly, but some insurance companies permit an accident without getting socked with a rate hike if your claims history is clear for a particular time prior to the accident.
- Student Discount for Driver Training – Cut your cost by having your teen driver successfully take a driver’s education course if it’s offered in school.
- Payment Discounts – If you can afford to pay the entire bill instead of making monthly payments you can avoid monthly service charges.
- Good Grades Discount – Maintaining excellent grades can earn a discount of 20% or more. The good student discount can last until age 25.
Remember that most of the big mark downs will not be given to the entire cost. The majority will only reduce the cost of specific coverages such as liability and collision coverage. Even though it may seem like adding up those discounts means a free policy, company stockholders wouldn’t be very happy.
The diagram below shows the comparison of Audi R8 auto insurance costs with and without discounts applied to the policy rates. The premium estimates are based on a male driver, no claims or violations, Minnesota state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, multi-car, safe-driver, claim-free, homeowner, and marriage discounts applied.
A list of auto insurance companies and their possible discounts are detailed below.
- State Farm offers discounts including good driver, Steer Clear safe driver discount, driver’s education, safe vehicle, multiple autos, and good student.
- Nationwide has savings for easy pay, multi-policy, business or organization, anti-theft, defensive driving, and family plan.
- GEICO may include discounts for anti-theft, good student, defensive driver, anti-lock brakes, emergency military deployment, seat belt use, and military active duty.
- AAA has discounts for anti-theft, good driver, pay-in-full, education and occupation, multi-policy, and good student.
- 21st Century discounts include driver training, teen driver, anti-lock brakes, early bird, good student, defensive driver, and theft prevention.
- The Hartford offers discounts for anti-theft, good student, defensive driver, driver training, air bag, bundle, and vehicle fuel type.
If you need lower rates, check with every company which discounts you may be entitled to. Depending on the company, some discounts may not be offered in Minneapolis. If you would like to see a list of companies offering auto insurance discounts in Minneapolis, click this link.
When in doubt talk to an agent
Always keep in mind that when comparing the right insurance coverage for your vehicles, there is no cookie cutter policy. Everyone’s situation is a little different and a cookie cutter policy won’t apply.
For example, these questions may help you determine if you would benefit from an agent’s advice.
- Is my custom stereo system covered?
- Can my teen drive my company car?
- Does medical payments coverage apply to all occupants?
- When would I need rental car insurance?
- Where can I find DUI or SR-22 insurance?
- Am I covered if I have no license?
- Is water damage covered by my policy?
- What if an uninsured driver hits me?
- Will my rates increase for filing one claim?
If you don’t know the answers to these questions, you may need to chat with an agent. If you don’t have a local agent, fill out this quick form or click here for a list of insurance companies in your area.
Best car insurance company in Minnesota
Buying coverage from the highest-rated car insurance company can be a challenge considering how many different companies there are to choose from in Minneapolis. The rank data displayed below may help you select which insurers to look at to insure your vehicles.
Top 10 Minneapolis Car Insurance Companies Ranked by Claims Service
- Progressive
- Travelers
- Liberty Mutual
- Nationwide
- USAA
- AAA Insurance
- GEICO
- Safeco Insurance
- Mercury Insurance
- Esurance
Top 10 Minneapolis Car Insurance Companies Ranked by Value
- USAA
- GEICO
- AAA Insurance
- State Farm
- Liberty Mutual
- Allstate
- Safeco Insurance
- 21st Century
- Travelers
- Titan Insurance