Minneapolis, MN Car Insurance

How does Minneapolis stack up to the rest of the area, or even Minnesota as a whole? What can Minneapolis residents expect to pay for their car insurance? You can see the cost breakdowns and contributing factors in the charts and writeups below:

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How much is car insurance in Minneapolis?

Car insurance policies in Minneapolis are about $14 a month more expensive than the rest of Minnesota.

Drivers relocating the Minneapolis should take note of the differences in average rates. The cost of auto coverage in Minneapolis is about $29 more expensive than the national average.

Although these are the average monthly costs for an auto insurance policy in Minneapolis, that doesn't mean it's exactly what you'll pay. There are a variety of factors that insurance companies consider when determining how much to charge you for insurance. Your monthly premium is calculated off of your age, gender, vehicle make and model, driving record, and in some cases, your credit score.

Don't sweat it however, we've broken down average rates for Minneapolis residents based on several different factors so that you can get a more accurate idea of your policy's monthly premium. And if you're not sure if you're getting the cheapest rate for your area, simply enter your ZIP below and find out!

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Average Car Insurance Rates by Age

The more time you have behind the wheel, the more experienced of a driver you should be. When it comes to car insurance bills, that experience pays off. In this case, 18-24-year-olds pay $82 more than someone who is at retirement age.

Every ten years or so you can expect to see a decline in your monthly premium. As you get closer to retirement, however, you may see your rates rise again in Minneapolis.

Average Car Insurance Rates by Gender

On average, female drivers pay slightly less than male drivers for car insurance. In Minneapolis, however, the difference in the monthly cost of coverage is minimal.

Average Auto Insurance Rates by Driving Record

Your rates can change quite drastically depending on your driving record. Drivers with clean records will pay much lower rates than those with accidents or violations. The rate for drivers in Minneapolis with a single accident on their record is about $141 a month. On a similar note, drivers with one ticket on their record will be looking at a monthly rate of about $133 on average.

Accidents, tickets, and other driving infractions can cost you some serious cash. Remember, the safer you are as a driver, the cheaper your car insurance will be.

Average Insurance Rates by Vehicle

As you can see in the first table above, the cheapest vehicles to insure in Minneapolis are by and large SUVs, trucks, and vans, which run about $103 per month.

On the other hand, car owners, can expect to pay about $114 a month for insurance.

Your vehicle's age can also affect your monthly bill. Generally, newer vehicles are going to be the most expensive to insure. However, once your car is close to 5 years old, you may start to see your monthly premium drop back down. In Minneapolis, the most expensive vehicles to insure are vehicles less than one year old.

Average Car Insurance Rates by Relationship Status

Generally speaking, married policyholders will pay slightly less for car insurance. This oftentimes is a result of owning multiple vehicles that are on the same policy, something some companies will reward with discounts.

On a national scale, married drivers typically pay less than single drivers for auto insurance. Minneapolis is no exception, with the difference totaling to around $14 a month.

Average Car Insurance Rates by Housing Situation

Your living accommodations is another factor that affects your monthly rate. In Minneapolis, homeowners can expect to pay around $20 a month less than those who rent. Those who live with their parents, however, can expect to pay a good deal more than their counterparts who rent or own.

Bundling your home or rental insurance and auto insurance policies can oftentimes reduce your overall costs, depending on your insurance company.

Car Insurance Companies in Minneapolis, MN

Recent trends in car insurance for Minneapolis drivers

Since average rates are constantly changing, it's a smart move to research the local trends in your area before shopping for coverage.

The rates for auto insurance in Minneapolis dropped from 2017-2019, before leveling out in 2020. They finished up in 2022, at $117 per month

How does Minneapolis compare to neighboring areas?

Why are car insurance rates in Minneapolis different from other areas?

When considering how much to charge for an insurance policy, car insurance companies will evaluate many factors. While we already talked about the ones that affect your personal policy, others are based around where you live and drive. These include things like:

• Laws
• Road Safety (how many accidents each locality has)
• Number of drivers in the community
• Off-street parking access
• Prevalence of crime

It's good to be aware of these factors (even though you may not be able to do much to change them) as you shop for a new policy or consider making a move. With the knowledge that different towns and cities will all have different rates, guides like these can be a good way to get a lay of the land of your particular neighborhood.

How can I find the cheapest car insurance in Minneapolis?

In the end, the only way to know exactly what your rate will be is to request a quote from a car insurance company.

But wait! Compare.com does all of that work for you. Just put in your ZIP Code below, answer a few questions related to the factors we outlined above, and you'll be comparing the cheapest quotes from a bulk of the car insurance companies providing plans in Minneapolis.

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Minneapolis Insurance FAQs

What factors affect car insurance quotes in Minneapolis?

Auto insurance companies take a wide array of factors into consideration when calculating your monthly payment. These include things like your vehicle's year, make and model, your age and gender, as well as your credit score, driving record, address, and marital status.

Why is the cost of car insurance in Minneapolis different from other neighboring cities?

Your address and the city you live in have a significant impact on how much a car insurance company might charge for your policy. Companies take into consideration things like local laws, parking situations, and crime rates when calculating your quote -- all of which can change from city to city.

Which car insurance company will offer me the cheapest rate in Minneapolis?

There isn't one company that can guarantee the cheapest rate to everybody, since the rates they charge for coverage are calculated based off of factors that can vary from person to person, such as vehicle make and model, driving record, and number of drivers on the policy. By using sites like Compare.com to compare multiple quotes simultaneously, you can rest assured that you're getting the best price available.

Do I need to change my insurance if I move to Minneapolis?

Whenever you relocate or experience another major life event, such as finding a new job or getting married, you should consider revisiting your current insurance policy. Using services like Compare.com to compare quotes from multiple companies at once is a great way to make sure you're getting the cheapest rate for your new location.

Do I need to wait for my policy to expire to switch to a different car insurance company?

Not at all, in fact you can switch companies at any point, regardless of how much time is left on your current policy. If you're thinking about moving to Minneapolis or haven't checked out the latest rates in your area for some time, it might be worth your while to take 10 minutes and see if Compare.com can save you any cash.