We don’t have to tell you that insurance companies don’t want you quoting rates from other companies. Insureds who shop around for the cheapest rate will probably switch car insurance companies because there are good odds of finding more affordable rates. A study discovered that drivers who compared rates regularly saved approximately $72 a month as compared to drivers who never compared rates.
If saving money on Lexus NX 300h insurance is your goal, then learning a little about the best way to compare insurance rates can save time, money, and frustration.
The most effective way to get affordable car insurance rates is to make a habit of comparing prices annually from insurers who can sell car insurance in Minneapolis.
- First, it will benefit you to learn about how car insurance works and the things you can control to keep rates down. Many policy risk factors that cause high rates such as at-fault accidents, speeding tickets, and bad credit can be amended by making minor changes to your lifestyle. This article gives more ideas to prevent expensive rate increases and find additional discounts you may qualify for.
- Second, obtain price quotes from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only give rate quotes from a single company like Progressive and State Farm, while agents who are independent can provide prices from many different companies.
- Third, compare the new rates to your current policy to determine if switching companies saves money. If you find a lower rate quote and switch companies, ensure coverage does not lapse between policies.
One tip to remember is to compare similar limits and deductibles on each quote request and and to get price quotes from as many companies as possible. This ensures the most accurate price comparison and a complete selection of prices.
How to find the cheapest Lexus NX 300h insurance in Minneapolis
Getting a cheaper price on insurance can be quick and easy. All you need to do is take a few minutes comparing price quotes from online providers.
The companies in the list below are our best choices to provide price comparisons in Minneapolis, MN. If your goal is to find cheap auto insurance in Minneapolis, MN, we recommend you visit two to three different companies to get a more complete price comparison.
Car insurance does more than just repair your car
Even though it’s not necessarily cheap to insure a Lexus in Minneapolis, paying for car insurance is mandatory in Minnesota but it also protects more than you think.
- Just about all states have mandatory liability insurance requirements which means it is punishable by state law to not carry specific limits of liability in order to drive the car. 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 bought your NX 300h with a loan, most lenders will force you to have comprehensive coverage to protect their interest in the vehicle. If you default on your policy, the lender may insure your Lexus at a significantly higher premium and force you to pay the higher premium.
- Car insurance preserves both your assets and your car. Insurance will also pay for medical transport and hospital expenses for yourself as well as anyone injured by you. As part of your policy, liability insurance will also pay for a defense attorney if someone files suit against you as the result of an accident. If mother nature or an accident damages your car, comprehensive (other-than-collision) and collision coverage will pay all costs to repair after the deductible has been paid.
The benefits of having insurance definitely exceed the cost, especially with large liability claims. The average driver in America is overpaying more than $800 each year so you should quote rates at every policy renewal to help ensure money is not being wasted.
Lexus NX 300h Insurance Cost Factors
The best way to find cheaper auto insurance is to take a look at the factors that go into determining your auto insurance rates. When consumers understand what controls the rates you pay, this allows you to make educated decisions that may result in cheaper rates.
Limits of liability protection – Your auto insurance policy’s liability coverage provides coverage if ever you are responsible for causing damage or personal injury in an accident. It provides for a legal defense which can cost a lot. This coverage is very inexpensive when compared to the cost of physical damage coverage, so drivers should carry high limits.
Insurance companies don’t like frequent claims – Companies in Minnesota give most affordable rates to people who are claim-free. If you frequently file small claims, you can pretty much guarantee either policy cancellation or increased premiums. Your insurance policy is designed for larger claims.
Urban residents pay more – Choosing to live in small towns and rural areas has it’s advantages when insuring your vehicles. Residents of big cities tend to have more traffic problems and a longer drive to work. Lower population corresponds to lower accident rates as well as less vandalism and auto theft.
Pay less if you’re married – Your spouse may cut your premiums on your auto insurance policy. Marriage means you’re more mature and responsible and insurance companies reward insureds because drivers who are married file infrequent claims.
Are you male or female? – Over time, data shows that females take fewer risks when driving. The data does not necessarily mean that females are better at driving than males. Males and females are responsible for at-fault accidents in similar percentages, but the men tend to have higher claims. They also receive more costly citations like DWI (DUI) or reckless driving. Young males have the highest risk to insure so they pay the highest premiums.
Auto insurance policy lapses increase auto insurance rates – Driving without insurance can get you a ticket and you will pay a penalty because you let your insurance coverage expire. In addition to paying higher premiums, getting caught without coverage will get you a hefty fine and possibly a revoked license.
Don’t overlook these Lexus NX 300h insurance discounts
Auto insurance companies don’t necessarily list every available discount in an easy-to-find place, so we researched a few of the more common in addition to some of the lesser obvious discounts you could be receiving when you buy Minneapolis auto insurance online.
- Auto/Home Discount – If you can bundle your home and auto insurance and place coverage with the same company you could save over 10 percent off each policy depending on the company.
- Seat Belt Discounts – Buckling up and requiring all passengers to use a seat belt can save 10% or more on the medical payments or PIP coverage costs.
- Discount for Swiching Early – Select companies give a discount for switching to them prior to your current NX 300h insurance policy expiring. The savings is around 10%.
- Defensive Driver – Passing a driver safety course can save you 5% or more and easily pay for the cost of the class.
- Telematics Data Discounts – Insureds that choose to allow driving data collection to track vehicle usage by using a small device installed in their vehicle such as Allstate’s Drivewise and State Farm’s In-Drive system may get a rate reduction as long as they are good drivers.
- Anti-theft Discount – Cars, trucks, and SUVs equipped with anti-theft or alarm systems are stolen less frequently and can earn a small discount on your policy.
- Discounts for Government Workers – Active or former government employment could provide a small rate reduction depending on your company.
- Anti-lock Brakes – Cars and trucks equipped with ABS or steering control are safer to drive and the ABS can save up to 10%.
Discounts lower rates, but some of the credits will not apply to the overall cost of the policy. A few only apply to the price of certain insurance coverages like comp or med pay. So when it seems like all the discounts add up to a free policy, auto insurance companies aren’t that generous.
A list of companies and the discounts they provide can be read below.
- GEICO has savings for five-year accident-free, federal employee, daytime running lights, multi-vehicle, multi-policy, and anti-theft.
- USAA has discounts for multi-vehicle, good student, multi-policy, annual mileage, defensive driver, new vehicle, and family discount.
- Progressive offers premium reductions for online quote discount, good student, multi-policy, online signing, homeowner, and continuous coverage.
- American Family may offer discounts for early bird, air bags, good driver, mySafetyValet, defensive driver, and bundled insurance.
- Esurance offers discounts including Switch & Save, good student, DriveSense, anti-theft, and multi-policy.
- Farmers Insurance offers discounts for good student, distant student, electronic funds transfer, business and professional, switch companies, and teen driver.
- State Farm policyholders can earn discounts including multiple autos, Drive Safe & Save, passive restraint, anti-theft, defensive driving training, safe vehicle, and good driver.
It’s a good idea to ask every prospective company how many discounts you can get. Some of the discounts discussed earlier might not be available to policyholders in Minneapolis. If you would like to see a list of auto insurance companies that provide some of the discounts listed above in Minnesota, follow this link.
Special considerations
When it comes to insurance from an agent or online for your personal vehicles, there isn’t really a “best” method to buy coverage. Your financial needs are unique.
Here are some questions about coverages that could help you determine whether you might need an agent’s assistance.
- Can I rent a car in Mexico?
- Is borrowed equipment or tools covered if stolen or damaged?
- What is the premium to book value ratio for dropping full coverage?
- Can I insure my car for more than it’s worth?
- If my Lexus NX 300h is totaled, can I afford another vehicle?
- Am I covered if I back into my garage door?
If you’re not sure about those questions but one or more may apply to you, you might consider talking to a licensed insurance agent. To find an agent in your area, complete this form. It’s fast, free and can provide invaluable advice.
When should I talk to an insurance agency?
Many drivers still prefer to sit down and talk to an agent and doing that can be a smart decision Agents can help you choose the best coverages and help you file claims. An additional benefit of price shopping on the web is that you can find cheaper prices and still have a local agent.
To find an agent, once you fill out this form (opens in new window), your information is instantly submitted to participating agents in Minneapolis that can give you free Minneapolis auto insurance quotes for your insurance coverage. You won’t need to leave your house since price quotes are sent to you instantly. If you have a need to compare rates from a specific insurance company, you would need to jump over to their website and give them your coverage information.
Picking an insurer needs to be determined by more than just a low price. Any agent in Minneapolis should be forthright in answering these questions:
- Will the quote change when the policy is issued?
- Do they receive special compensation for putting your coverage with one company over another?
- Are there any discounts for paying up front?
- Does the company have a local claim office in Minneapolis?
- Does the agency provide any after hours assistance?
- Is the agency covered by Errors and Omissions coverage?
- Is the agency active in community causes in Minneapolis?
- How many years have they been established?
If you want to buy insurance from a good insurance agency, there are two different types of agents and how they are distinctly different. Agents in Minneapolis can be classified as either exclusive or independent agents depending on their company appointments. Both can sell and service insurance coverage, but it’s worth mentioning why they differ since it can impact your selection of an agent.
Exclusive Insurance Agents
Exclusive agents can only provide pricing for a single company and some examples include American Family, State Farm, and Allstate. Exclusive agents are unable to provide prices from multiple companies so they are skilled at selling on more than just price. Exclusive agents are usually well trained on sales techniques and that allows them to sell at a higher price point. Many people purchase coverage from exclusives primarily because of the brand legacy rather than low price.
Listed below is a list of exclusive agents in Minneapolis willing to provide price quote information.
- Jerry Vang – State Farm Insurance Agent
701 4th Ave S #220 – Minneapolis, MN 55415 – (612) 338-6400 – View Map - Moon Lai – State Farm Insurance Agent
2718 Nicollet Ave #204 – Minneapolis, MN 55408 – (612) 870-0800 – View Map - Farmers Insurance – Matthew Nye
2104 Stevens Ave #309 – Minneapolis, MN 55404 – (612) 979-2330 – View Map
Independent Insurance Agents
Agents in the independent channel are appointed with more than one company so they can write business amongst many companies and potentially find a lower price. If you are not satisfied with one company, they simply move the coverage in-house and the insured can keep the same agent. When comparing rates, we recommend you get some free quotes from a couple of independent agencies for the best price selection. Most have the option of insuring with companies you’ve never heard of which may provide better rates.
Below are Minneapolis independent insurance agents that can give you comparison quotes.
- Alisho Dependable Ins. Agency
1929 S 5th St #104 – Minneapolis, MN 55454 – (612) 354-2576 – View Map - Cheap Car Insurance Minneapolis Auto Insurance Agency
2227 W 21st St – Minneapolis, MN 55405 – (612) 425-1616 – View Map - Glover Insurance Agency
2520 NE Lowry Ave – Minneapolis, MN 55411 – (612) 284-3227 – View Map
Ratings for Minnesota car insurance companies
Picking the right insurer can be a challenge considering how many choices you have in Minnesota. The ranking data in the next section could help you decide which auto insurers you want to consider purchasing coverage from.
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 by A.M. Best Rank
- USAA – A++
- GEICO – A++
- Travelers – A++
- State Farm – A++
- Allstate – A+
- Progressive – A+
- Mercury Insurance – A+
- The Hartford – A+
- Nationwide – A+
- Esurance – A+
How much can you save?
People who switch companies do it for many reasons like high prices, policy cancellation, poor customer service or even lack of trust in their agent. It doesn’t matter why you want to switch finding a new company can be easy and end up saving you some money.
In this article, we presented a lot of tips how to shop for Lexus NX 300h insurance online. The key thing to remember is the more you quote Minneapolis auto insurance, the higher your chance of finding affordable Minneapolis auto insurance quotes. Consumers could even find that the biggest savings come from the smaller companies.
As you go through the steps to switch your coverage, it’s very important that you do not reduce coverage to reduce premium. Too many times, consumers will sacrifice collision coverage only to discover later that the few dollars in savings costed them thousands. Your goal is to buy the best coverage you can find at the best price, but do not sacrifice coverage to save money.
To read more, feel free to browse the articles below:
- What is Gap Insurance? (Insurance Information Institute)
- What Car Insurance is Cheapest for a Ford Escape in Minneapolis? (FAQ)
- Who Has Cheap Car Insurance with Multiple Speeding Tickets in Minneapolis? (FAQ)
- Who Has Cheap Auto Insurance Quotes for Teachers in Minneapolis? (FAQ)
- Who Has Cheap Minneapolis Car Insurance Rates for Veterans? (FAQ)
- Who Has the Cheapest Car Insurance Rates After a Speeding Ticket in Minneapolis? (FAQ)
- What Auto Insurance is Cheapest for a Company Car in Minneapolis? (FAQ)
- Car Insurance FAQ (Trusted Choice)
- Front crash protection reduces rear-end crashes (Insurance Institute for Highway Safety)
- What to do at the Scene of an Accident (Insurance Information Institute)
- Teen Driver Statistics (Insurance Information Institute)