Cheap Car Insurance in Bloomington, MN
Everything You Need to Know about Auto Insurance in Minnesota
The fifth largest city in Minnesota, Bloomington is mainly known for being the home of the Mall of America, the largest shopping mall in the United States. However, it is also an underrated nature destination, home to the Minnesota Valley National Wildlife Refuge, with more than 14,000 acres of wetlands. Highland Lake Park Reserve, with its endless skiing and snowboarding opportunities, is another favorite spot.
If you are a Bloomington driver, expect to need to carry an active auto insurance policy to be able to drive legally in the state. With this guide, you will learn everything there is to know about car insurance in Minnesota, including average rates paid by zip code, what determines auto insurance premiums, and the types of discounts you can get.
How Much Does Car Insurance Cost in Bloomington, MN?
Bloomington drivers pay an average monthly premium of $130 for full coverage, slightly below the state average of $137 and well below the national average of $148. For the cheapest car insurance in Bloomington, drivers pay an average of $50 per month for the state-required minimum liability, which is a little higher than the state average of $45 and about the same as the national average at $47.
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What Does Full vs. Minimum Mean?
Full vs. minimum refers to full coverage versus state minimum liability.
Full coverage generally consists of three types of policies: liability, collision, and comprehensive, protecting against a broader range of scenarios, including crash-related events (e.g., vehicle-to-vehicle collisions) or non-collision-related events like theft and vandalism.
In turn, state minimum liability provides liability coverage including bodily injury/death liability and property damage liability. Since Minnesota is a no-fault state, your liability coverage will be used to help pay for your injuries and damage, regardless of who is at fault in an accident.
Most no-fault states like Minnesota also require some form of additional medical coverage, such as Personal Injury Protection (PIP), as well as uninsured motorist coverage (UM).
Remember, you can adjust coverage limits regardless of whether your insurance policy is full or state minimum liability. Feel free to adapt your bodily injury and property damage liability limits above and beyond Bloomington’s required 30/60/10 minimums. To be safe, opt for a 100/300/100 policy if you can afford it. With the average cost of a new vehicle now over $40,000 with the ever-increasing cost of vehicle parts and labor due to today’s macroeconomic conditions, a 100/300/100 policy may be more appropriate.
Affordable Car Insurance Rates Comparison by Cities in Minnesota
For the average monthly premium paid in nearby cities to Bloomington, check out our breakdown below:
| City | Full Coverage Insurance | Liability Insurance Coverage |
|---|---|---|
| Bloomington | $130 | $50 |
| Grand Rapids | $170 | $60 |
| Minneapolis | $150 | $60 |
| Rockford | $130 | $40 |
| Saint Paul | $160 | $60 |
Affordable Bloomington Car Insurance Rates by Zip Code
Every zip code pays a different average monthly premium than neighboring zip codes for many reasons, such as varying theft and claims rates. That’s why drivers living in larger, more congested cities pay significantly higher premiums than less populated, more rural areas.
For the average monthly premium paid by Bloomington residents by zip code, see our breakdown below:
| Zip Code | Full Coverage Insurance | Liability Insurance Coverage |
|---|---|---|
| 55420 | $130 | $50 |
| 55425 | $140 | $60 |
| 55431 | $130 | $50 |
| 55435 | $140 | $50 |
| 55437 | $140 | $50 |
| 55438 | $130 | $50 |
Low-Cost Car Insurance Rates by Age in Bloomington
As a group, younger drivers have less driving experience than older drivers and have more claims. As a result, they pay higher average monthly premiums for full coverage and even basic liability. It’s not uncommon for an 18-year-old driver to pay more than three times the rate of a driver in their 50s.
For the average monthly premium paid by Bloomington residents by age, see our breakdown below:
| Age | Full Coverage Insurance | Liability Insurance Coverage |
|---|---|---|
| Teenagers | $340 | $120 |
| 20s | $150 | $60 |
| 30s | $130 | $50 |
| 40s | $120 | $50 |
| 50s | $110 | $40 |
| 60s | $120 | $50 |
| 70s | $140 | $60 |
* Methodology: To arrive at the average monthly premiums paid by Bloomington drivers, we use the following demographic profile: 30-year-old male with Minnesota’s state minimum liability coverage. Many factors affect your premiums, including but not limited to your deductible, liability limits, enrolled discount programs, age, gender, and zip code.
Driving Conditions in Bloomington
How Many Fatal Accidents Happen in Bloomington?
In 2020, there were five fatal road traffic accidents in Bloomington, involving 11 vehicles and resulting in five fatalities; 13 people were involved, including four pedestrians.
How Are the Road Infrastructure and Bridges in Bloomington, Minnesota?
The city of Bloomington has an active Public Works Department that maintains all city streets and infrastructure, providing various services including but not limited to engineering services, Wastewater management, pothole/street light repair, and on-street parking permit issuance.
The department’s Street Maintenance program is responsible for maintaining more than 300 miles of city streets. In addition, it is well known for its Pavement Management Program, which tries to seal street surfaces every seven years.
Minimum Car Insurance Requirements in Bloomington
All Minnesota drivers must carry the following coverages:
- $30,000 for bodily injury liability per person
- $60,000 for bodily injury liability per accident
- $10,000 for property damage liability
- $25,000/$50,000 uninsured motorist coverage
- $25,000/$50,000 underinsured motorist coverage
- $40,000 PIP
Remember, Minnesota is a no-fault state. Your liability coverage will be used to help you pay for your own damages and injuries, but it may not be enough at these minimum levels. For greater protection, you can consider higher liability limits. For example, Minnesota’s minimum $10,000 in property damage liability may barely cover a three-vehicle fender bender, especially with the average cost of a new vehicle being over $40,000 these days.
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What Are the Penalties for Driving Without Insurance in Bloomington, MN?
You must have an active auto insurance policy to drive legally in Bloomington.
Failure to provide insurance at a traffic stop will result in the following:
- 90-day license/registration suspension
- Fines from $200 to $1,000 for first and second offenses
- Fines from $200 to $3,000 for third and subsequent offenses
- $30 reinstatement fee
- Possible required community service and/or up to 90 days in jail (depending on the severity of the offense)
Another penalty for driving without insurance in Bloomington is required filing of an SR-22, an add-on to your existing policy that lets the state know you are carrying the minimum liability coverage required. This will automatically elevate your premium for a minimum of three years.
Factors Allowed in Bloomington Car Insurance Rates
There are many factors auto insurance companies use to calculate premiums, including:
- Age/gender
- Driving record
- Zip code of residence
- Type of vehicle you drive
Younger drivers pay higher average monthly premiums for liability-only and full coverage than older drivers, thanks to higher accident and claims rates. They are also more likely to engage in risky driving behavior.
Another aspect to consider is location. High crime and theft rate areas will see higher premiums than sparsely populated, low-crime rural areas.
Remember the type of vehicle that you drive. Luxury and sports cars will have higher premiums than older 2007 Honda Civics with a much lower depreciation rate.
Note that this is not an all-inclusive list and only includes some factors used to calculate auto insurance premiums. Each auto insurance company applies its methodologies using proprietary algorithms and statistical models to determine the likelihood of future claims payouts for each policyholder.
Insurance That Helps You Prepare for the Future
Having an active auto insurance policy cannot be understated.
It provides three benefits: financial protection, legal compliance, and peace of mind. Depending on your type of coverage, a policy ensures your auto insurance company will be on the hook to pay for vehicle repairs, medical expenses, legal fees, and other scenarios (up to your policy limits) after a covered accident.
Additionally, all states require drivers to carry auto insurance. Failure to do so will result in a suspended driver’s license and registration, penalties, administrative charges, and even jail time, depending on the severity of the offense.
Lastly, an active auto insurance policy contributes to greater peace of mind knowing you are adequately protected. The average cost of a new vehicle is now over $45,000, so a high-limit 100/300/100 policy will work wonders.
What are the Best Discounts for Car Insurance in Bloomington, MN?
Bloomington drivers can take advantage of all kinds of auto insurance discounts, rewarding them for doing everything from paying an entire annual premium upfront to installing in-vehicle safety devices.
Some auto insurance discounts include:
These discounts have been proven to encourage safe driving habits, promote vehicle safety, reward responsible driving behavior, and cut insurance costs. All of this benefits Bloomington residents who strive to maintain clean driving records.
Get an Online Quote for Car Insurance in Bloomington Today!!
Freeway Insurance is ready to help all Bloomington residents find an affordable auto insurance policy to protect you and your loved ones.
Getting started with Freeway Insurance takes less than a minute. You may visit us online, at a location near you, or speak with one of our friendly agents by calling 800-777-5620. We look forward to helping you explore all of your options.