9 Proven Ways to Cut Your Car Insurance Cost in Minnetonka

Shopping for affordable Minnetonka car insurance on the web can be intimidating for consumers new to online price comaprisons. When there are so many online companies, how can anyone have a chance to compare every one to find the lowest price?

This article will let you in on how to get online quotes. If you currently have a car insurance policy, you will be able to lower your premiums substantially using this strategy. Minnesota vehicle owners just need to know the most effective way to compare prices online.

More discounts equal less premium

Insurance can be prohibitively expensive, buy you may qualify for discounts to cut the cost considerably. A few discounts will automatically apply at quote time, but a few need to be inquired about prior to getting the savings. If you aren’t receiving every discount you qualify for, you’re paying more than you need to.

  • Drivers Education – Have your child successfully complete driver’s ed class in high school.
  • Resident Student – Children who attend school more than 100 miles from home and don’t have a car can be insured at a reduced rate.
  • Good Students Pay Less – Getting good grades can earn a discount of 20% or more. Earning this discount can benefit you well after school through age 25.
  • Low Mileage – Fewer annual miles could qualify for lower rates on the low mileage vehicles.
  • Accident Waiver – Certain companies will forgive one accident before hitting you with a surcharge so long as you haven’t had any claims for a particular time prior to the accident.
  • Multiple Cars – Buying insurance for all your vehicles on one policy may reduce the rate for each vehicle.
  • Save with a New Car – Buying coverage on a new vehicle is cheaper because new vehicles have to meet stringent safety requirements.
  • Anti-lock Brakes – Vehicles equipped with ABS or steering control can avoid accidents and therefore earn up to a 10% discount.
  • Theft Prevention System – Anti-theft and alarm systems help deter theft and earn discounts up to 10%.

As a disclaimer on discounts, most credits do not apply to the entire cost. Most cut the price of certain insurance coverages like medical payments or collision. Just because you may think having all the discounts means you get insurance for free, it just doesn’t work that way. Any qualifying discounts will reduce your premiums.

Cheap Minnetonka Car Insurance Comparisons

There are a lot of ways you can shop for car insurance but there is one way that is easier and takes less work. You can waste a few hours (or days) talking to local insurance agents in Minnetonka, or you could save time and use online quotes to achieve your goal.

Most of the best insurance companies participate in an industry program that allows shoppers to submit one quote, and each company provides a quote determined by their information. This system prevents you from having to do quotation requests to every company. To get comparison pricing now click to open in new window.

The one downside to pricing coverage this way is you are unable to specify the insurers you want pricing from. So if you want to choose individual companies to compare, we have assembled a list of companies who write car insurance in Minnesota. Click here to view list.

However you get your quotes, make darn sure you compare the exact same deductibles and coverage limits for each comparison quote. If you have differing limits you will not be able to make an equal comparison in Minnetonka.

Lower your Minnetonka Car Insurance Rates

An important part of buying insurance is that you know some of the elements that go into determining the rates you pay for car insurance. Having a good understanding of what impacts premium levels empowers consumers to make smart changes that could result in big savings.lower rates in Minnesota

Listed below are some of the items used by your company to calculate premiums.

  • Extra add-on coverages are wasting money – There are a ton of extra coverages that you can buy when buying car insurance. Coverages for vanishing deductibles, towing coverage and term life insurance may be costing you every month. They may seem good when you first buy your policy, but if they’re wasting money eliminate them to save money.
  • Better credit means lower rates – Credit score is a large factor in your rate calculation. Consumers who have excellent credit tend to be less risk to insure than those with lower credit scores. If your credit score is low, you could save money insuring your by repairing your credit.
  • Your location affects your rates – Residing in a small town can be a good thing when insuring your vehicles. Drivers in populated areas have much more traffic and longer commute times. Fewer people means fewer accidents and a lower car theft rate.
  • Do you work long hours in a high stress job? – Occupations like doctors, social workers and accountants tend to pay higher rates than average attributed to stressful work requirements and long work hours. On the flip side, professions such as farmers, athletes and the unemployed have the lowest average rates.
  • Higher deductibles cost less – Physical damage deductibles define the amount you are required to spend in the event of a claim. Coverage for physical damage, otherwise known as comp (or other than collision) and collision, insures against damage to your car. Some examples of claims that would be covered are running into the backend of another car, damage caused by hail, and rolling your vehicle. The higher the amount the insured has to pay upfront, the less your car insurance will be.
  • Better crash test results mean better rates – Safer cars are cheaper to insure. Safe vehicles result in less severe injuries and better occupant protection translates into savings for insurance companies and more competitive rates for policyholders.
  • Lower rates come with age – Young drivers in Minnesota have a tendency to be more careless when driving so car insurance rates are higher. Parents adding a youthful driver onto a policy can break the bank. More mature drivers are viewed as being more responsible, tend to file fewer claims and get fewer tickets.
  • More claims means more premium – If you are a frequent claim filer, you can pretty much guarantee higher rates. Auto insurance companies in Minnesota generally give discounts to drivers who are claim-free. Insurance coverage is meant to be used in the event of the large, substantial claims.

It’s not one size fits all

When it comes to buying proper insurance coverage for your vehicles, there is no “perfect” insurance plan. Each situation is unique.

These are some specific questions may help you determine if you might need professional guidance.

  • What is covered by UM/UIM coverage?
  • Am I covered when renting a car or should I buy coverage from the car rental agency?
  • Should I rate my vehicle as pleasure use or commute?
  • Is my babysitter covered when using my vehicle?
  • How many claims can I have before being cancelled?
  • If my vehicle is totaled, can I afford another vehicle?
  • Do I need PIP coverage since I have good health insurance?

If you don’t know the answers to these questions, you might consider talking to an insurance agent. To find lower rates from a local agent, simply complete this short form. It’s fast, doesn’t cost anything and can help protect your family.

How can Allstate, GEICO and Progressive save drivers who switch?

Minnesota drivers constantly see and hear ads for the lowest price auto insurance by companies like Allstate, GEICO and Progressive. They all seem to have a common claim that you can save after switching to them.

How does each company say the same thing?

Different companies are able to cherry pick for the right customer that is profitable for them. For example, a desirable insured might be profiled as between the ages of 30 and 50, has no tickets, and has excellent credit. A customer who fits that profile receives the best rates and most likely will pay quite a bit less when switching companies.

Consumers who are not a match for the requirements must pay higher rates which usually ends up with the customer not buying. The ads say “drivers who switch” not “everyone that quotes” save that much money. That is how companies can truthfully state the savings.

This illustrates why it’s extremely important to compare many company’s rates. It is impossible to predict which car insurance company will provide you with the cheapest rates.

More effort can pay off

As you restructure your insurance plan, it’s very important that you do not reduce coverage to reduce premium. In many cases, an insured cut full coverage only to discover later that a couple dollars of savings turned into a financial nightmare. The aim is to buy the best coverage you can find at an affordable rate, not the least amount of coverage.

In this article, we presented quite a bit of information on how to shop for car insurance online. It’s most important to understand that the more providers you compare, the better your comparison will be. You may even discover the best price on car insurance is with a small local company.

Budget-conscious car insurance is possible from both online companies in addition to many Minnetonka insurance agents, and you should compare price quotes from both so you have a total pricing picture. Some insurance companies do not provide the ability to get a quote online and these small insurance companies work with independent agents.

More information can be found on the Minnesota Department of Commerce website found here. Minnesota consumers can download brochures, file complaints about a company, read state legal mandates and laws, and view a list of available companies.

Also read more on FindNewCarInsurance.com and QuoteClickSave.com.