What drives up car insurance rates in Minneapolis?
Car Insurance in Minneapolis
Minneapolis premiums, which exceed Minnesota's average by $355, are recognized for being pricey. Therefore in Minneapolis, it is vital to cut costs while insuring a vehicle. Who doesn't like to save money? Check out some methods to save on car insurance in Minneapolis.
- City Average: $1,613
- State Average: $1,258
- National Average: $1,427
Minneapolis Car Insurance by Gender and Marital Status
In Minneapolis, both marital status and gender affect your car insurance premiums. $98 is the amount by which men's and women's car insurance premiums differ. Rates for those who are widowed or divorced are the same as rates for single individuals. On the other hand, being single can cost you roughly $110 more per year compared to being married.
- Female: $1,711
- Male: $1,613
- Single: $1,613
- Married: $1,502
- Divorced: $1,613
- Widowed: $1,613
Minneapolis Car Insurance by Credit Rating
For those with Very Poor credit (300-579), as opposed to Exceptional credit (800-850), car insurance premiums nearly triple. Drivers will see the biggest percent drop in premiums when they upgrade their credit from Fair (580-669) to Good (670-739). That change can save them 23% per year.
- Very Poor: $3,343
- Fair: $2,678
- Good: $2,068
- Very Good: $1,699
- Exceptional: $1,380
Minneapolis Car Insurance by Accident or Violation History
A history of accidents and violations can cost you in terms of car insurance rates. A DUI will increase your car insurance premiums more than other driving violations. Drivers with a DUI in Minneapolis need to spend $1,019 more than the city average to insure their vehicle. Reckless driving will also bump your rates up, with typical rates of $2,410, which are 49% higher than the city average. For individuals in Minneapolis with at-fault accidents, $857 is the amount by which annual insurance premiums can be expected to rise.
- DUI: $2,632
- Reckless Driving: $2,410
- At-fault Accident (damages less than $1000): $2,470
- At-fault Accident (damages greater than $2000): $2,470
- Speeding Ticket (16-20 mph over speed limit): $2,017
Minneapolis Car Insurance by Age
Among all age groups, drivers in their 50s have the smallest car insurance payments, with rates of $1,412. The largest drop in premiums for Minneapolis drivers happens when they reach their 20s. Once out of the teenage age bracket, they save an average of 67% annually. The first time drivers can expect their age to trigger a rise in rates is when they turn 60. With car insurance payments of $6,677 on average, teenage drivers have the largest premiums of any age group.
- Teenagers: $6,677
- 20s: $2,214
- 30s: $1,590
- 40s: $1,529
- 50s: $1,412
- 60s: $1,512
- 70s: $1,834
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
AAA Minneapolis Insurance Agency
5400 Auto Club Way Minneapolis, MN 55416
Moreno Agency- Innovative Insurance Services
4748 Chicago Ave, STE 2 Minneapolis, MN 55407
333 S 7Th St Ste 2420 Minneapolis, MN 55402
Dyste Williams Agency
6465 Wayzata Blvd, Ste 700 Minneapolis, MN 55426
80 S 8th St, Ste 700 Minneapolis, MN 55402
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Minneapolis Car Insurance
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