The average cost of full coverage car insurance in Minnesota is $1,643 per year, just slightly less than the national average of $1,771. The state’s minimum will set back most drivers an average of $537 annually, very close to the national average of $565.
What individual drivers pay for their coverage varies widely and is based on many factors, including age and driving record most importantly, but even their zip code of residence.
Mature drivers with a blemish-free driving history can expect to find the cheapest auto insurance rates in Minnesota.
What is the Average Premium in Minnesota for Cheap Full Coverage Car Insurance?
The average rate is $137 per month. This type of auto insurance includes Minnesota’s required minimum, as well as collision and comprehensive. For complete peace of mind, full coverage offers protection against damages due to collisions, as well as those out of your control, such as a tree limb falling on your vehicle.
Full coverage may also be required if you have financed your ride or are in a lease.
How Much Is It for Cheap Liability Insurance or the Minimum Required Car Insurance in Minnesota?
It will cost, on average, $45 per month. Most people will pay a little more or a little less than that for the state-required minimum. Because Minnesota is a no-fault state, the minimum consists of the usual liability (bodily injury and property damage), as well as uninsured motorist coverage (UM), underinsured motorist coverage (UIM) and personal injury protection (PIP).
If you get into an accident or are hit by a hit-and-run, your own insurance will kick in to help pay for your property damage. Your PIP will be available for your medical costs. If someone who is not insured or who doesn’t have enough insurance causes an accident, your UM/UIM will kick in.
How Do Rates Compare Across Major Cities in Minnesota?
Rates vary depending on where you live. Generally, residents living in less populated areas pay lower auto insurance premiums due to the reduced risk of an accident and vehicle crime. Here is a comparison of average monthly costs between some populated and rural areas in Minnesota.
Unless otherwise specified, we use the following methodology to arrive at our average cost: male, age 30, lowest possible legal coverage allowed by Minnesota. Your rates will be determined by several factors, including your age, your gender and the amount of coverage you want to purchase.