What's the Cost of Car Insurance in Minneapolis?
It is common knowledge that Minneapolis has pricey premiums, as its mean premium exceeds the state average by 30%. So in Minneapolis, it is vital to save while insuring a vehicle. Let's take a look at how auto insurance costs in Minneapolis compare to rates nationwide.
AUTO INSURANCE PRICES: MINNEAPOLIS VS. NATIONAL/STATE AVERAGES
|City Average||State Average||National Average|
Minneapolis Auto Insurance by Gender and Marital Status
Gender as well as marital status can have an effect on your car insurance premiums in Minneapolis. Being married, as opposed to single, can save you an average of $125 per year on car insurance. Rates for those who are widowed are relatively cheaper than rates for those who are single. Unfortunately for women, their premiums are normally 6% more expensive than for men.
MINNEAPOLIS CAR INSURANCE PREMIUMS BY GENDER AND MARITAL STATUS
|Marital Status/Gender||Average Rate|
Minneapolis Car Insurance Costs by Age
When Minneapolis drivers hit their 20s, therefore moving out of the teenage age bracket, they reduce their premiums by 67%, which is the largest difference you'll see between any age group. The first time drivers can anticipate their age to trigger a rise in insurance rates is when they turn 60. Teenage drivers have the largest premiums of any age group. They have car insurance payments that average $6,799. Everybody loves to save money, and luckily for drivers in their 50s, they do just that! They have the lowest car insurance payments among any age group, with rates of $1,453 per year.
MINNEAPOLIS AUTO INSURANCE RATES BY AGE
Minneapolis Car Insurance by Violation or Accident History
A history of accidents and violations can cost you in terms of prices on car insurance. Reckless driving will increase your car insurance premiums more than other driving violations. Drivers with a DUI in Minneapolis have rates 53% greater than the city average of $1,659. Reckless driving will bump your rates up as well, with average rates of $2,759! The amount of damage that results from an at-fault accident impacts insurance rates. Compared to at-fault accidents with damages less than $1,000, accidents with damages exceeding $2,000 cost you another $271 per year in premiums.
AVERAGE MINNEAPOLIS INSURANCE RATES AFTER A VIOLATION OR ACCIDENT
|Incident/Violation||Average Annual Premium|
|At-fault Accident (damages less than $1,000)||$2,286|
|At-fault Accident (damages greater than $2,000)||$2,557|
|Speeding Ticket (16-20 mph over speed limit)||$2,109|
Minneapolis Auto Insurance by Credit Rating
For those with Very Poor credit (300-579), as opposed to Exceptional credit (800-850), car insurance premiums are $2,278 more a year. Moving from Very Poor (300-579) to Fair (580-669) generates the largest reduction in premiums, as drivers save approximately $1,619 per year.
MINNEAPOLIS AUTO INSURANCE COSTS BY CREDIT TIER
|Credit Quality||Average Rate|
What drives up car insurance rates in Minneapolis?
Where you live in Minneapolis affects your car insurance rates. Besides your driving history and credit score, where you live is one of the biggest contributing factors to the car insurance rates you'll pay. The reason? Crime, theft and uninsured motorists vary by zip code. So if you find yourself in a neighborhood that doesn’t play well with others, car insurance companies may consider you a high risk to insure, meaning: your rates could be higher than those of a pal who lives just around the block. And, unfortunately Minneapolis is no exception to the rule. From zip code 55437 to 55411, premiums rise by 43 percent—that’s $694.
Expensive Minneapolis Zip Codes: 55487, 55488, 55454, 55486, 55411
Cheap Minneapolis Zip Codes: 55437, 55438, 55447, 55446, 55439
Minneapolis Driving Conditions
Inclement weather goes hand in hand with wet brakes, slick roads & decreased visibility.
And that's not the worst of it. Each year there are more than 700,000 weather-related car accidents. In Minneapolis, you can expect 117 rainy days with an annual rainfall of 30.6 inches. Minneapolis is also known to experience severe winter storms. You can check on the condition of the roads anytime here.
Rainy Days a Year
Avg. Annual Rainfall
Avg. Annual Snowfall
Be Prepared For
Driving in Minneapolis
Find Local Minneapolis Agents
Dyste Williams Agency
6465 Wayzata Blvd, Ste 700, Minneapolis, MN 55426
80 S 8th St, Ste 700, Minneapolis, MN 55402
333 S 7Th St Ste 2420, Minneapolis, MN 55402
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