Amazingly, a recent NerdWallet.com study showed that almost 70% of drivers kept their policy with the same company for at least four years, and nearly 40% of drivers have never compared rates from other carriers. The average driver in Minneapolis could cut their rates by approximately $1,000 a year by just shopping around, but they don’t believe how much savings they would realize if they changed companies.
If you want to save the most money, the best way to quote cheaper car insurance rates in Minneapolis is to compare quotes once a year from insurers who sell auto insurance in Minnesota.
First, get a basic knowledge of car insurance and the factors you can control to prevent expensive coverage. Many factors that cause rate increases like multiple speeding tickets and a not-so-good credit history can be eliminated by being financially responsible and driving safely.
Second, compare prices from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only quote rates from a single company like Progressive or Allstate, while agents who are independent can quote rates from multiple sources.
Third, compare the new rate quotes to your existing policy to determine if you can save on Forte insurance. If you find a lower rate and buy the policy, make sure there is no coverage gap between policies.
Fourth, tell your current agent or company of your intention to cancel your current car insurance policy. Submit the required down payment along with the signed application for your new coverage. When you receive it, put the new certificate of insurance somewhere easily accessible.
One key aspect when comparing rates is that you use identical coverages on every price quote and and to get quotes from as many companies as feasibly possible. Doing this provides a fair price comparison and the best price selection.
Buying more affordable coverage in Minneapolis is not as difficult as people think. If you have a policy now or are looking for a new policy, you can use these tips to find the best rates and still have adequate protection. Vehicle owners just have to know the most effective way to compare insurance rates over the internet.
The Kia Forte Insurance Rate Equation
When buying car insurance it’s important to understand a few of the rating criteria that go into determining your policy premiums. If you have some idea of what positively or negatively impacts your premiums, this allows you to make good choices that will entitle you to lower premium levels.
The factors shown below are some of the major factors used by insurance companies to determine your rates.
Prevent policy lapses – Going without insurance can be a guaranteed way to bump up your car insurance costs. Not only will rates go up, being ticketed for driving with no insurance can result in a hefty fine and possibly a revoked license.
Rates increase with driving citations – Your driving citation history impacts premiums far more than you think. Good drivers pay lower auto insurance prices than their less careful counterparts. Even one chargeable violation may cause rates to rise by as much as thirty percent. Drivers who have gotten severe citations like DUI, reckless driving or excessive speeding may be required to file a proof of financial responsibility form (SR-22) with their state’s licensing department in order to prevent their license from being revoked.
The example below demonstrates how traffic citations and at-fault fender-benders increase Kia Forte insurance premiums for different age groups. The costs are based on a married female driver, comp and collision included, $250 deductibles, and no additional discounts are factored in.
Costs can change based on your address – Living in areas with lower population is a good thing when buying car insurance. Less people means less chance of accidents as well as less vandalism and auto theft. Drivers in populated Minnesota areas regularly have congested traffic and more severe claims. The longer drive time means more chances of being involved in an auto accident.
Poor credit score equals high prices – A driver’s credit score is likely to be a major factor in calculating your premium rate. Drivers who have high credit ratings tend to be less risk to insure than those with worse credit. So if your credit is lower than you’d like, you may save money insuring your Kia Forte by spending a little time repairing your credit.
Discounts for married couples – Being married can get you a discount on your policy. It means you’re more mature and responsible and statistics prove married drivers tend to have fewer serious accidents.
Stressful employer may mean higher rates – Did you know that where you work can have an impact on rates? Jobs such as real estate brokers, air traffic controllers, and miners generally have higher average rates because of intense work requirements and lots of time spent away from family. Other jobs such as actors, athletes and retirees get better rates.
Safeguard your assets with liability insurance – Your policy’s liability coverage will provide protection in the event that you are found to be at fault for damages caused by your negligence. Liability provides legal defense coverage which can cost thousands of dollars. Liability is cheap as compared to coverage for physical damage, so insureds should have plenty of protection for their assets.
Insurance loss statistics a Kia Forte – Companies factor in insurance loss information when they calculate premium prices for each model. Vehicles that the data determines to have higher loss trends will cost more to insure.
The information below illustrates the compiled insurance loss statistics for Kia Forte vehicles. For each policy coverage type, the claim probability for all vehicles, regardless of make, model or trim level, equals 100. Percentage values below 100 suggest a better than average loss history, while percentages above 100 indicate a higher chance of having a claim or tendency to have higher losses.
| Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Kia Forte | 114 | 117 | 103 | 176 | 183 | 144 |
| Kia Forte | 114 | 98 | 147 | |||
| Kia Forte | 102 | 102 | 86 |
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Kia Forte insurance rate analysis
The rate table displayed below outlines different insurance coverage prices for Kia Forte models. Having a good grasp of how policy premiums are established can aid in making smart choices when comparing insurance rates.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Forte LX 4-Dr Sedan | $148 | $246 | $384 | $22 | $114 | $914 | $76 |
| Forte EX 4-Dr Sedan | $148 | $246 | $384 | $22 | $114 | $914 | $76 |
| Forte SX 4-Dr Sedan | $168 | $298 | $384 | $22 | $114 | $986 | $82 |
| Forte EX 2-Dr Coupe | $168 | $352 | $434 | $26 | $130 | $1,110 | $93 |
| Forte SX 2-Dr Coupe | $168 | $352 | $434 | $26 | $130 | $1,110 | $93 |
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Table data represents single male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Minnesota minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, homeowner, and claim-free. Information does not factor in Minneapolis location which can impact price quotes greatly.
Kia Forte insurance rates: Men versus women
The information below illustrates the comparison of Kia Forte insurance costs for male and female drivers. The data assumes a clean driving record, no at-fault accidents, comprehensive and collision coverage, $500 deductibles, single marital status, and no discounts are applied.
Kia Forte liability-only versus full coverage
The illustration below illustrates the difference between Kia Forte car insurance costs with full coverage compared to only the Minnesota minimum liability coverage. Data assumes no claims or driving citations, $500 deductibles, drivers are not married, and no discounts are applied.
When to stop buying comprehensive and collision coverage
There is no definitive formula to stop buying comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.
For example, let’s assume your Kia Forte settlement value is $5,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would receive is $4,000 after paying the physical damage deductible. If premiums are more than $400 a year for your policy with full coverage, the it may be a good time to stop paying for full coverage.
There are some conditions where dropping full coverage is not financially feasible. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if you can’t afford to buy a different vehicle in case of an accident, you should keep full coverage in place.
Kia Forte insurance discounts in Minneapolis
Car insurance companies do not list every available discount in a way that’s easy to find, so the following is a list of a few of the more common as well as the least known credits available to bring down your rates.
- Theft Deterrent – Cars and trucks equipped with tracking devices and advanced anti-theft systems are stolen less frequently and can earn a small discount on your policy.
- Discount for Life Insurance – Not all insurance companies offer life insurance, but some may give you a small discount if you purchase auto and life insurance together.
- Discounts for Government Workers – Federal government employees may qualify for a discount when you quote Minneapolis auto insurance depending on your company.
- New Vehicle Savings – Putting auto insurance coverage on a new Forte is cheaper since newer vehicles have better safety ratings.
- Defensive Driver – Successfully completing a defensive driving course can save you 5% or more and easily recoup the cost of the course.
- Onboard Data Collection – Policyholders that allow driving data submission to spy on driving habits by using a telematics device like Allstate’s Drivewise could see a rate decrease if they are good drivers.
A little note about advertised discounts, most of the big mark downs will not be given to the whole policy. The majority will only reduce the cost of specific coverages such as liability, collision or medical payments. Even though it may seem like having all the discounts means you get insurance for free, auto insurance companies aren’t that generous.
The diagram below compares Kia Forte yearly insurance costs with and without discounts being applied to the rates. The rates are based on a female driver, no driving violations, no at-fault accidents, Minnesota state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, marriage, claim-free, multi-policy, safe-driver, and homeowner discounts applied.
A few of the larger companies and some of their more popular discounts include:
- Travelers discounts include driver training, home ownership, multi-policy, payment discounts, hybrid/electric vehicle, good student, and continuous insurance.
- 21st Century offers discounts including 55 and older, defensive driver, theft prevention, teen driver, homeowners, anti-lock brakes, and early bird.
- State Farm policyholders can earn discounts including anti-theft, safe vehicle, multiple policy, multiple autos, good driver, and good student.
- GEICO includes discounts for air bags, military active duty, driver training, multi-policy, multi-vehicle, anti-lock brakes, and defensive driver.
- SAFECO offers discounts for multi-car, accident prevention training, anti-theft, drive less, teen safety rewards, teen safe driver, and anti-lock brakes.
- AAA may have discounts that include good driver, anti-theft, pay-in-full, AAA membership discount, and multi-policy.
If you are trying to find low cost Minneapolis auto insurance quotes, ask every company what discounts are available to you. Some discounts might not be offered on policies in Minneapolis. To see insurance companies that have a full spectrum of discounts in Minnesota, click here.
Cheap insurance is out there
We just presented quite a bit of information on how to reduce Kia Forte insurance rates online in Minneapolis. It’s most important to understand that the more rate comparisons you have, the higher your chance of finding affordable Minneapolis auto insurance quotes. You may even find the best price on insurance is with a smaller regional carrier. Regional companies may have significantly lower car insurance rates on certain market segments compared to the large companies like Allstate and Progressive.
As you go through the steps to switch your coverage, it’s not a good idea to skimp on coverage in order to save money. In many cases, an accident victim reduced liability limits or collision coverage and found out when filing a claim that it was a big error on their part. The proper strategy is to find the BEST coverage at the lowest possible cost, but do not sacrifice coverage to save money.
Additional information can be found below:
- Cellphones, Texting and Driving (iihs.org)
- Who Has Affordable Minneapolis Auto Insurance for a Honda Civic? (FAQ)
- Who Has the Cheapest Minneapolis Auto Insurance Rates for a GMC Acadia? (FAQ)
- What Auto Insurance is Cheapest for a Company Car in Minneapolis? (FAQ)
- Keeping Children Safe in Crashes Video (iihs.org)
- Things to Know Before you Cancel Insurance (Allstate)
- What are my Rights when Filing a Claim? (Insurance Information Institute)