Annual auto insurance premiums in Minnesota are $1,207 for 2011 which is below the national average of $1,440.
Annual Changes
Minnesota auto insurance rates have decreased 20% between 2011 and 2010, following a decline of 15% over the previous 12 month period. Each Minnesota car insurance provider is free to set its own rates as it sees fit. As rates are subject to change and patterns are not predictable, finding the lowest rates for auto insurance in Minnesota is made easier by checking this site regularly to get pricing news and obtain multiple quotes.
Seasonal Changes
Annual premiums in Minnesota began to drop in May 2010, and the downward trend continued every month after that except July. The sharpest drop was registered in winter 2010, and the January 2011 rate is only $10 above the December 2010 low. Minnesota auto insurance rates can change quite frequently and rapidly, and shopping for the best quote is always recommended.
Insurance Requirements
The no-fault system is effect in Minnesota. State insurance regulations require property damage insurance and personal injury protection coverage as well as bodily injury liability cover. The minimum amount of bodily injury coverage is set at $30,000 per person and $60,000 per accident, with a mandatory minimum of $10,000 for property damage liability. No-fault personal injury protection is mandatory, with a limit of $40,000. Uninsured and underinsured motorist coverage for bodily injury is also mandatory in Minnesota, and limits are $25,000 for each person and $50,000 for each accident. Higher coverage limits are recommended in order to protect assets in the event of a serious accident.
Advice for Getting the Best Deals
In Minnesota, both regional and national firms issue auto insurance policies. It is not possible to determine which firm offers the best rates as these vary depending on both driver and car. Obtaining multiple quotes from reliable insurance companies that are rated A or higher by A. M. Best is highly recommended. In addition, it is advised to consult the J. D. Power consumer satisfaction ratings for each company.
Information on rates as well as multiple quotes from top car insurance companies are available on this site, making it the best resource for Minnesota drivers who are looking for the lowest insurance rates.
