We don’t have to tell you that insurance companies want to keep you from comparing prices. Consumers who get price quotes annually will, in all likelihood, buy a new policy because there are good odds of finding a more affordable policy. A recent survey revealed that people who did price comparisons regularly saved as much as $3,400 over four years compared to people who don’t make a habit of comparing rates.
If finding budget-friendly insurance in Minneapolis is your intention, then having a good understanding how to quote prices and compare insurance premiums can save time and make the process easier.
If saving the most money is your goal, then the best way to find cheaper prices for auto insurance rates is to start doing an annual price comparison from different companies who can sell car insurance in Minneapolis.
- First, take a few minutes and learn about coverages and the things you can control to prevent rate increases. Many rating criteria that result in higher rates like distracted driving and poor credit can be eliminated by paying attention to minor details. Continue reading for additional tips to get better rates and find additional discounts you may qualify for.
- Second, compare prices from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give rate quotes from a single company like Progressive or State Farm, while independent agents can quote prices from multiple sources.
- Third, compare the new rate quotes to your existing coverage to determine if switching companies saves money. If you find a better price, ensure there is no coverage lapse between policies.
- Fourth, tell your current agent or company of your decision to cancel your current car insurance policy and submit payment and a completed application to the newly selected company. Once the paperwork is finalized, put the new certificate verifying coverage in your vehicle’s glove compartment or console.
An important part of this process is that you’ll want to make sure you compare similar deductibles and liability limits on every quote request and and to compare all possible companies. Doing this ensures a level playing field and the best price selection.
If you have insurance now, you will surely be able to shop for the lowest rates using the techniques covered below. Pricing more affordable auto insurance in Minneapolis is simple if you know the tricks. Although Minnesota vehicle owners must comprehend how insurance companies market insurance on the web and use it to your advantage.
When shopping for Mercury Milan insurance in Minneapolis there are multiple ways to compare rate quotes from different Minneapolis insurance companies. The easiest way by far to find cheaper Mercury Milan rates consists of obtaining rate quotes online. It’s important to know that getting more free quotes helps increase your odds of locating more affordable rates.
The following companies provide quotes in Minnesota. If multiple companies are listed, we recommend you click on several of them to get a more complete price comparison.
Rates and other information
The table shown below covers different rate quotes for Mercury Milan models. Having a good grasp of how auto insurance premiums are figured can assist in making decisions on which insurance to purchase.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Milan | $222 | $410 | $364 | $22 | $108 | $1,126 | $94 |
| Milan Premier | $222 | $482 | $364 | $22 | $108 | $1,198 | $100 |
| Milan Premier AWD | $250 | $482 | $364 | $22 | $108 | $1,226 | $102 |
| Milan Hybrid | $250 | $482 | $428 | $26 | $128 | $1,314 | $110 |
| Get Your Own Custom Quote Go | |||||||
Table data represents single female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Minnesota minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, safe-driver, and multi-policy. Premium costs do not factor in specific location which can raise or lower auto insurance rates noticeably.
Physical damage deductible comparison
The hardest decision when buying coverage is how high should the deductibles for physical damage be. The premium rates below show the rate difference when you choose different coverage deductibles. The first table uses a $250 deductible and the second price grid uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Milan | $246 | $414 | $270 | $16 | $80 | $1,051 | $88 |
| Milan Premier | $246 | $486 | $270 | $16 | $80 | $1,123 | $94 |
| Milan Premier AWD | $276 | $486 | $270 | $16 | $80 | $1,153 | $96 |
| Milan Hybrid | $276 | $486 | $318 | $18 | $94 | $1,217 | $101 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Milan | $152 | $260 | $270 | $16 | $80 | $778 | $65 |
| Milan Premier | $152 | $306 | $270 | $16 | $80 | $824 | $69 |
| Milan Premier AWD | $170 | $306 | $270 | $16 | $80 | $842 | $70 |
| Milan Hybrid | $170 | $306 | $318 | $18 | $94 | $906 | $76 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Minnesota minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Prices do not factor in specific location information which can influence prices considerably.
Based on these figures, using a $250 deductible costs approximately $25 more each month or $300 each year than buying the higher $1,000 deductible. Due to the fact that you would have to pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you average at least 30 months between claims, you would save more money if you decide on a higher deductible. The numbers below show a better example of how you can come to your own conclusion.
| Average monthly premium for $250 deductibles: | $95 |
| Average monthly premium for $1,000 deductibles (subtract): | – $70 |
| Monthly savings from raising deductible: | $25 |
| Difference between deductibles ($1,000 – $250): | $750 |
| Divide difference by monthly savings: | $750 / $25 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 30 months |
Accidents and violations increase rates
The diagram below shows how traffic citations and accident claims increase Mercury Milan insurance rates for each age group. The premiums are based on a single male driver, full physical damage coverage, $500 deductibles, and no discounts are applied to the premium.
Mercury Milan liability rates compared to full coverage
The example below shows the comparison of Mercury Milan insurance rates with full physical damage coverage compared to only buying liability only. The rate quotes are based on a clean driving record, no at-fault accidents, $1,000 deductibles, drivers are single, and no policy discounts are applied.
Guidelines for eliminating full coverage
There is no clear-cut rule of when to exclude full coverage, but there is a general school of thought. If the annual cost of having full coverage is more than 10% of the vehicle’s replacement cost less your deductible, then you might consider buying liability only.
For example, let’s pretend your Mercury Milan book value is $4,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $3,000 after paying your deductible. If you are paying in excess of $300 annually to have full coverage, then it’s probably a good time to buy liability coverage only.
There are some cases where removing full coverage is not in your best interest. If you still owe a portion of the original loan, you have to carry full coverage to satisfy the loan requirements. Also, if you don’t have enough money to buy a different vehicle if your current one is damaged, you should keep full coverage on your policy.
Compare prices but still have a neighborhood Minneapolis auto insurance agent
Many people just want to get advice from a local agent and that is a personal choice. A good thing about comparing insurance prices online is that you can find cheaper car insurance rates and still choose a local agent.
To make it easy to find an agent, after completing this form (opens in new window), the coverage information is submitted to companies in Minneapolis who want to provide quotes for your coverage. It makes it easy because there is no need to search for an agent as quotes are delivered straight to your inbox. You can get cheaper insurance rates without having to waste a lot of time. If you wish to compare rates from a specific insurance company, you can always jump over to their website and fill out their quote form.
Finding the right insurer should depend on more than just the quoted price. Before buying a policy in Minneapolis, get answers to these questions.
- Is the agent properly licensed in Minnesota?
- Which companies can they place coverage with?
- Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
- Is the agent CPCU or CIC certified?
- Do they assist clients in filing claims?
Once you have received positive responses as well as offering an affordable quote, you’ve probably found an provider that can be trusted to properly insure your vehicles. Just be aware that it’s your coverage and you can terminate your policy at any time so never feel that you are obligated to a specific company with no way to switch.