Cheapest Insurance for a Jeep Wrangler in Minneapolis

The recommended way to find lower priced Jeep Wrangler insurance in Minneapolis is to do a yearly price comparison from insurers who provide car insurance in Minnesota.

First, take a few minutes and learn about auto insurance and the measures you can control to keep rates down. Many policy risk factors that drive up the price such as getting speeding tickets and an imperfect credit score can be remedied by being financially responsible and driving safely. This article provides more information to prevent high rates and find overlooked discounts.

Second, compare price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only provide price estimates from a single company like Progressive or State Farm, while agents who are independent can quote prices from multiple insurance companies.

Third, compare the new rates to the price on your current policy and determine if there is any savings. If you can save money and change companies, make sure the effective date of the new policy is the same as the expiration date of the old one.

Fourth, notify your company or agent of your intention to cancel your current policy and submit a down payment along with a completed application to the new company. As soon as you can, place the new proof of insurance certificate with your vehicle’s registration.

The most important part of this process is that you’ll want to make sure you compare identical coverages on every quote request and and to look at as many carriers as you can. This enables the most accurate price comparison and a thorough selection of prices.

It’s an obvious assumption that auto insurance companies don’t want you quoting rates from other companies. Drivers who shop around annually will most likely buy a different policy because the odds are good of finding a lower-priced company. Surprisingly, a recent survey revealed that consumers who faithfully checked for cheaper rates saved about $860 a year as compared to drivers who never compared rates.

If finding the cheapest price for Jeep Wrangler insurance is your target objective, then having a grasp of how to compare insurance rates can make it simple to find affordable coverage.

Rates and statistics

The coverage table shown next highlights detailed analysis of insurance rates for Jeep Wrangler models. Having a good understanding how insurance premiums are calculated can be valuable when making decisions on which coverage to buy.

Prices above based on married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Minnesota minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Premium costs do not factor in Minneapolis location which can affect price quotes significantly.

How high should deductibles be?

When comparing auto insurance rates, the most common question is how low should you set your deductibles. The comparisons below outline the cost difference between low and high comp and collision deductibles. The first rate quote example uses a $250 deductible for comprehensive and collision coverage and the second pricing table uses a $500 deductible.

Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Minnesota minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, claim-free, and multi-vehicle. Rate information does not factor in specific garaging location which can lower or raise coverage prices significantly.

Using the data above, we can ascertain that using a $250 deductible will cost you about $11 more each month or $132 a year than buying the higher $500 deductible. Since the policyholder would be required to pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you go at a minimum 23 months between claims, you would probably save some money if you opt for a higher deductible.

The chart below shows how choosing a deductible and can influence Jeep Wrangler insurance costs for different ages of insureds. The data is based on a single female driver, full physical damage coverage, and no discounts are taken into consideration.

Age-based auto insurance rates by gender in Minneapolis

The chart below compares Jeep Wrangler auto insurance costs for male and female drivers. The prices are based on no driving violations, no at-fault accidents, full coverage, $500 deductibles, marital status is single, and no additional discounts are factored in.

Should you buy full coverage?

The diagram below illustrates the difference between Jeep Wrangler insurance premiums with full physical damage coverage compared to only buying the minimum liability limits required in Minnesota. The information is based on no claims or violations, $100 deductibles, drivers are single, and no policy discounts are applied.

When to stop paying for full coverage

There is no definitive rule of when to phase out physical damage coverage on your policy, but there is a guideline you can consider. If the annual cost of coverage is more than 10% of the vehicle’s replacement cost less your deductible, then it’s probably a good time to buy liability coverage only.

For example, let’s pretend your Jeep Wrangler replacement cost is $4,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would receive is $3,000 after you pay the deductible. If it’s costing in excess of $300 annually for full coverage, then you might consider buying liability only.

There are some circumstances where buying only liability insurance is not recommended. If you haven’t satisfied your loan, you have to keep full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should keep full coverage on your policy.

Buy Cheaper Car Insurance with These Tips

Many different elements are considered when quoting car insurance. Some are pretty understandable like an MVR report, but others are more obscure such as your credit history or how safe your car is.

Listed below are some of the most rate-impacting factors used by insurance companies to determine your rate level.

Get a ticket, pay higher rates – Your driving record can have a huge impact on auto insurance premiums. Just one chargeable violation can increase rates by as much as twenty percent. Drivers who don’t get tickets pay less for auto insurance as compared to those with violations. Drivers who have gotten dangerous citations such as reckless driving, hit and run or driving under the influence may find they need to complete a SR-22 with their state’s licensing department in order to legally drive a vehicle.

The example below shows how traffic citations and accidents raise Jeep Wrangler premium costs for different age groups. The data is based on a married male driver, full physical damage coverage, $1,000 deductibles, and no policy discounts are applied.

Policy lapses lead to higher premiums – Having an insurance coverage lapse is a quick way to increase your rates. In addition to paying higher premiums, not being able to provide proof of insurance could result in a revoked license or a big fine. Then you may be required to provide proof of insurance in the form of an SR-22 filing with the Minnesota motor vehicle department.

Annual mileage impacts rates – Driving more miles in a year’s time the higher the price you pay to insure it. The majority of insurers charge to insure your cars based upon how you use the vehicle. Vehicles not used for work or commuting qualify for better rates than those that get driven frequently. Having an incorrect usage rating on your Wrangler may be costing you higher rates. Make sure your car insurance policy reflects the correct driver usage, because improper ratings can cost you money.

If you don’t need it don’t buy it – Insurance policies have a lot of extra bells and whistles you can purchase if you aren’t careful. Add-on coverages like roadside assistance, towing coverage, and membership fees are probably not needed. These coverages may sound good when talking to your agent, but your needs may have changed so eliminate them to save money.

Prevent your car from being stolen – Buying a car with a theft deterrent system can help lower your premiums. Theft deterrent systems such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all aid in stopping auto theft and help lower rates.

Jeep Wrangler historical loss data – Insurance companies analyze claim trends for every vehicle to help determine the price you pay. Vehicles that have higher loss trends will cost more for specific coverages. The information below illustrates the insurance loss data for Jeep Wrangler vehicles.

For each insurance policy coverage type, the loss probability for all vehicles combined as an average equals 100. Percentage numbers below 100 imply a favorable loss record, while values over 100 indicate higher probability of having a loss or larger claims.

Affordable insurance rates are available

Some insurance companies may not have online quoting and many times these small insurance companies only sell coverage through independent agents. Lower-priced insurance in Minneapolis can be found both online as well as from insurance agents, and you need to price shop both in order to have the best price selection to choose from.

When shopping online for insurance, don’t be tempted to sacrifice coverage to reduce premiums. There are a lot of situations where an insured cut liability coverage limits only to regret that a couple dollars of savings turned into a financial nightmare. Your goal is to find the BEST coverage at the lowest possible cost, not the least amount of coverage.

For more information, take a look at the articles below:

• If I File a Claim will My Insurance Go Up? (Insurance Information Institute)
• How Much is Minneapolis Car Insurance for 4×4 Vehicles? (FAQ)
• How Much is Minneapolis Car Insurance for a Nissan Sentra? (FAQ)
• Who Has Affordable Minneapolis Car Insurance Quotes for a Dodge Ram? (FAQ)
• Who Has Cheap Minneapolis Car Insurance Quotes for First-time Drivers? (FAQ)
• How Much are Auto Insurance Rates for Nurses in Minneapolis? (FAQ)
• What Auto Insurance is Cheapest for a Company Car in Minneapolis? (FAQ)
• Higher speed limits cause more fatalities (Insurance Institute for Highway Safety)
• Airbag FAQ (iihs.org)