If saving the most money is your goal, then the best way to find low-cost car insurance rates is to start doing a yearly price comparison from different companies in Minneapolis. Prices can be compared by following these guidelines.
Step 1: Take a few minutes and learn about how car insurance works and the steps you can take to keep rates low. Many rating criteria that are responsible for high rates like multiple speeding tickets and a poor credit score can be remedied by making small lifestyle or driving habit changes.
Step 2: Obtain price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give prices from a single company like Progressive or State Farm, while agents who are independent can quote rates from multiple sources.
Step 3: Compare the price quotes to your existing policy and see if you can save money. If you find a lower rate and buy the policy, verify that coverage does not lapse between policies.
Step 4: Give proper notification to your current agent or company to cancel your current policy and submit the signed application along with the required initial payment to your new insurance company. As soon as coverage is bound, place the new proof of insurance paperwork in your vehicle’s glove compartment or console.
The most important part of shopping around is that you use the same liability limits and deductibles on every price quote and and to get price quotes from as many companies as feasibly possible. This enables a fair price comparison and many rates to choose from.
Everyone knows that auto insurance companies don’t want you comparing rates. Consumers who get price quotes annually are inclined to buy a different policy because they have a good chance of finding a more affordable policy. A recent insurance study discovered that drivers who made a habit of comparing rates saved an average of $3,400 over four years compared to other drivers who didn’t regularly shop around.
If finding the lowest price on BMW Z4 insurance in Minneapolis is your intention, then having an understanding of how to get price quotes and compare insurance premiums can help make the process easier.
This information will familiarize you with how to get online quotes and some tricks to saving. If you have insurance now, you will most likely be able to buy cheaper insurance using the techniques covered below. Shoppers just need to use the best way to compare prices from many different companies online.
The fastest way that we advise to compare policy rates for BMW Z4 insurance in Minneapolis takes advantage of the fact almost all companies have advanced systems to quote your coverage. To start a quote, the only thing you need to do is take a few minutes to give details such as if the vehicle is leased, whether you are married, how much education you have, and if your license is active. Your details is sent automatically to multiple companies and they respond with quotes almost instantly.
To compare multiple company affordable BMW Z4 insurance rates now, click here and find out if lower rates are available in Minneapolis.
The companies shown below have been selected to offer free quotes in Minnesota. If you wish to find cheap car insurance in Minneapolis, MN, we suggest you click on several of them in order to get a fair rate comparison.
Insurance discounts help lower rates for BMW Z4 insurance in Minneapolis
Car insurance can cost a lot, but you might be missing out on some discounts that could drop your premiums quite a bit. Larger premium reductions will be automatically applied at the time of quoting, but some discounts are required to be specifically requested in order for you to get them. If you do not double check each discount possible, you are not getting the best rate possible.
- ABS Brakes – Vehicles that have anti-lock braking systems have fewer accidents and will save you 10% or more on Z4 insurance in Minneapolis.
- Military Deployment Discount – Being deployed in the military may lower your prices slightly.
- Passive Restraints and Air Bags – Vehicles with factory air bags or automatic seat belts may get savings as much as 30%.
- Senior Citizen Discount – Drivers that qualify as senior citizens could receive better insurance rates.
- Responsible Driver Discount – Insureds without accidents may save up to 50% more than drivers with accidents.
- Resident Student – Children who are enrolled in higher education away from home and do not take a car to college could get you a discount.
- Early Signing – Some insurance companies give discounts for switching to them before your current Z4 insurance policy expires. It could save around 10% when you buy Minneapolis car insurance online.
- Seat Belt Usage – Requiring all passengers to buckle up before driving can save up to 15% on medical payment and PIP coverage.
- Student Driver Training – It’s a good idea to have your young drivers enroll in driver’s education as it will make them better drivers and lower rates.
- Online Discount – Some of the larger companies will give a small break for buying your policy on the web.
Don’t be surprised that most discounts do not apply to your bottom line cost. Most only cut specific coverage prices like comprehensive or collision. So despite the fact that it appears all those discounts means the company will pay you, nobody gets a free ride.
The example below compares BMW Z4 insurance costs with and without discounts. The data is based on a male driver, no accidents or driving violations, Minnesota state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, homeowner, safe-driver, marriage, multi-policy, and multi-car discounts applied.
If you would like to view insurers with the best BMW Z4 insurance discounts in Minneapolis in Minnesota, follow this link.
Detailed insurance information
The premium table displayed below showcases detailed analysis of insurance premium costs for BMW Z4 models. Being able to understand how insurance policy premiums are determined can be of help when making informed coverage decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Z4 3.0I SDRIVE 2-Dr Roadster | $296 | $656 | $304 | $18 | $92 | $1,366 | $114 |
| Z4 3.5I SDRIVE 2-Dr Roadster | $296 | $656 | $304 | $18 | $92 | $1,366 | $114 |
| Get Your Own Custom Quote Go | |||||||
Data based on single female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Minnesota minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Rate quotes do not factor in your specific Minneapolis location which can modify price quotes significantly.
Comparison of policy deductibles
When buying auto insurance, a common question is at what level do you set your deductibles. The figures shown below illustrate the rate difference when you select higher and lower comp and collision deductibles. The first rate estimation uses a $100 physical damage coverage deductible and the second set of rates uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Z4 3.0I SDRIVE 2-Dr Roadster | $344 | $668 | $270 | $16 | $80 | $1,403 | $117 |
| Z4 3.5I SDRIVE 2-Dr Roadster | $344 | $668 | $270 | $16 | $80 | $1,403 | $117 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Z4 3.0I SDRIVE 2-Dr Roadster | $190 | $352 | $270 | $16 | $80 | $908 | $76 |
| Z4 3.5I SDRIVE 2-Dr Roadster | $190 | $352 | $270 | $16 | $80 | $908 | $76 |
| Get Your Own Custom Quote Go | |||||||
Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Minnesota minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, homeowner, and safe-driver. Prices do not factor in the specific area where the vehicle is garaged which can increase or decrease coverage prices significantly.
Based on the figures above, using a $100 deductible could cost the average driver approximately $41 more each month or $492 a year than choosing the higher $1,000 deductible. Since you would have to pay $900 more to file a claim with a $1,000 deductible as compared to a $100 deductible, if you go at least 22 months between claim filings, you would more than likely save some money if you choose the higher deductible.
When do I need to talk to an insurance agency?
Certain consumers just prefer to sit down and talk to an agent and doing so can bring peace of mind Professional agents can make sure you are properly covered and help submit paperwork. The biggest benefit of comparing rate quotes online is the fact that you can find better rates and still have a local agent. Putting coverage with local agencies is especially important in Minneapolis.
Once you complete this form (opens in new window), the quote information is transmitted to local insurance agents in Minneapolis who will give you quotes and help you find cheaper coverage. There is no need to find an agent because quoted prices will be sent to you. If for some reason you want to compare prices from a specific insurance company, you can always visit that company’s website to submit a rate quote request.
How to choose the best auto insurance agent in Minneapolis
If you’re trying to find a local agent, you must know there are a couple different agency structures and how they differ in how they quote coverages. Agents are classified as either independent agents or exclusive agents. Either one can provide car insurance policies, but it’s important to know the difference in the companies they write for because it may have an impact on the kind of agent you use.
Independent Car Insurance Agencies
Agents that elect to be independent often have many company appointments so as a result can place your coverage through lots of different companies and get you the best rates possible. If you want to switch companies, your agent can switch companies and you don’t have to do anything.
If you are comparing car insurance prices, you absolutely need to include at a minimum one independent agency so that you have a good selection of quotes to compare. Most independent agents also contract with lesser-known insurance companies that may have much lower rates than larger companies.
The following is a small list of independent insurance agents in Minneapolis that can give you competitive price quotes.
- Moreno Agency – Innovative Insurance
4748 Chicago Ave #2 – Minneapolis, MN 55407 – (612) 584-0077 – View Map - Shamrock Agencies
1 Groveland Terrace #102 – Minneapolis, MN 55403 – (952) 474-0929 – View Map - Seguros Amezcua Insurance Agency, Inc
6418 Bass Lake Rd #4 – Minneapolis, MN 55428 – (612) 465-0400 – View Map
Exclusive Insurance Agents
Exclusive insurance agents can only provide pricing for a single company and examples are Allstate, Farmers Insurance, State Farm, and AAA. They are unable to place coverage with different providers so they are skilled at selling on more than just price. Exclusive agents are highly trained on their company’s products which helps offset the inability to provide other markets. Consumers frequently buy from exclusive agents partially due to the prominence of the brand rather than having low rates.
Listed below is a short list of exclusive agents in Minneapolis willing to provide rate quotes.
- Allstate Insurance: Lois A. Castaneda
127 W Grant St, # C – Minneapolis, MN 55403 – (612) 871-6830 – View Map - Farmers Insurance – Mark Hansen
6001 Portland Ave – Minneapolis, MN 55417 – (612) 869-7760 – View Map - John Arens – State Farm Insurance Agent
3259 Johnson St NE – Minneapolis, MN 55418 – (612) 781-3454 – View Map
Deciding on an auto insurance agent should depend on more than just a cheap price. Any good agent in Minneapolis should know the answers to these questions.
- Can they help ensure a fair claim settlement?
- What are their preferred companies if they are an independent agency?
- Is auto insurance their primary focus in Minneapolis?
- How are they compensated?
- Are aftermarket or OEM parts used to repair vehicles?
How to Lower Your Insurance Costs
One of the most helpful ways to save on insurance is to to have a grasp of the rating factors that go into determining your insurance rates. If you understand what positively or negatively impacts your premiums, this helps enable you to make changes that will entitle you to big savings.
The list below includes just a few of the factors insurance companies consider when setting premiums.
- Your job is a factor – Jobs like real estate brokers, airline pilots, and medical professionals tend to have higher premium rates attributed to job stress and lots of time spent away from family. Conversely, occupations like professors, athletes and retirees pay lower than average rates.
- Premiums are affected by your credit score – Having a good credit score will be a significant factor in determining premium rates. If your credit rating is low, you could potentially save money when insuring your BMW Z4 by improving your credit score. Drivers who have excellent credit scores tend to be more responsible than those with bad credit.
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What type of vehicle do you drive? – The performance of the car you are insuring makes a huge difference in your rates. Economy passenger cars usually have the lowest rates, but the cost you end up paying is determined by many additional factors.
The chart below assumes a married male driver age 20, full coverage with $1000 deductibles, and no discounts or violations. It illustrates BMW Z4 insurance rates compared to other models that have a range of risk factors.
- High comp and collision deductibles reduce prices – Protection for physical damage, also called comprehensive and collision insurance, protects your BMW from damage. Some examples of covered claims are a broken side mirror, collision with an animal, and rolling your vehicle. Deductibles for physical damage define how much the insured will be required to pay before your insurance pays a claim. The more damage repair cost you’re willing to pay, the better rate you will receive.
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Insurance loss data for BMW Z4 vehicles – Companies use historical loss data as a way to help calculate a profitable premium rate. Models that historically have higher loss trends will cost more for specific coverages. The data below shows the compiled insurance loss statistics for BMW Z4 vehicles.
For each type of coverage, the loss probability for all vehicles, as an average, is represented as 100. Numbers that are below 100 represent a good loss history, while numbers that are greater than 100 show a trend for more claims or larger claims.
Insurance Loss Ratings for BMW Z4 Vehicles Specific BMW Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury BMW Z4 Convertible 131 67 78 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Why you need Z4 insurance in Minnesota
Even though Minneapolis Z4 insurance rates can get expensive, paying for car insurance is required for several reasons.
- Most states have compulsory liability insurance requirements which means you are required to buy a specific level of liability insurance coverage if you drive a vehicle. 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 have a loan on your Z4, it’s guaranteed your bank will require you to have full coverage to ensure loan repayment if the vehicle is totaled. If you cancel or allow the policy to lapse, the bank will be required to insure your BMW for a lot more money and make you pay for the expensive policy.
- Car insurance preserves not only your car but also your financial assets. It will also cover hospital and medical expenses for yourself as well as anyone injured by you. One policy coverage, liability insurance, also covers all legal expenses up to the policy limit if you are sued as the result of your driving. If mother nature or an accident damages your car, comprehensive and collision coverage will pay all costs to repair after the deductible has been paid.
The benefits of carrying enough insurance definitely exceed the price paid, especially with large liability claims. Today the average American driver overpays more than $820 a year so smart consumers compare quotes at every policy renewal to make sure the price is not too high.
Best car insurance in Minnesota
Finding the highest-rated insurer can be challenging considering how many choices drivers have in Minnesota. The ranking information shown below may help you select which car insurance companies you want to consider comparing rate quotes with.
Top 10 Minneapolis Car Insurance Companies Overall
- USAA
- 21st Century
- GEICO
- Nationwide
- AAA Insurance
- Liberty Mutual
- Safeco Insurance
- State Farm
- Travelers
- American Family
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+
In conclusion
Cost effective BMW Z4 insurance is attainable from both online companies and with local Minneapolis insurance agents, and you should compare price quotes from both so you have a total pricing picture. Some companies do not offer rate quotes online and usually these regional insurance providers prefer to sell through local independent agencies.
As you prepare to switch companies, make sure you don’t buy lower coverage limits just to save a few bucks. There are many occasions where an insured cut physical damage coverage only to discover later that their decision to reduce coverage ended up costing them more. The proper strategy is to purchase plenty of coverage at a price you can afford, not the least amount of coverage.
We just covered many ways to lower your BMW Z4 insurance prices in Minneapolis. The key concept to understand is the more providers you compare, the higher your chance of finding low cost Minneapolis car insurance quotes. You may even discover the lowest priced auto insurance comes from the smaller companies.
More detailed auto insurance information can be read in the articles below:
- Parking Tips to Reduce Door Dings (State Farm)
- Who Has Cheap Auto Insurance for a Toyota Highlander in Minneapolis? (FAQ)
- What Auto Insurance is Cheapest for a Jeep Wrangler in Minneapolis? (FAQ)
- How Much are Auto Insurance Quotes for Drivers Over Age 70 in Minneapolis? (FAQ)
- Who Has Affordable Minneapolis Auto Insurance for Real Estate Agents? (FAQ)
- Determining Auto Insurance Rates (GEICO)
- Steps to Take After an Auto Accident (Insurance Information Institute)
- Vehicle Insurance in the U.S. (Wikipedia)