Minnesota Car Insurance Calculator: Estimate Your Car Insurance Costs

Our auto insurance calculator is a quick way for Minnesota drivers to get a ballpark figure of how much they’ll have to pay for car insurance. MoneyGeek’s tool considers several factors that insurers take into account when calculating insurance premiums. By using it and reading our guide, you can better understand the factors that lead to expensive or more affordable car insurance rates.

MoneyGeek’s Minnesota car insurance calculator will give you an approximate quote fast. You’ll need to put in some personal information such as your age, the type of vehicle you own, your driving history and the coverage levels you wish to include in your policy.

Our analysis shows that the factors that impact the cost of insurance in Minnesota most are adding a teen driver to your policy, your credit score and your age. However, insurance costs for you may vary depending on your combination of those and other factors.

While the cheapest car insurance in Minnesota for you depends on that combination of factors, our calculator can get you a close estimate. MoneyGeek found that the cheapest auto insurance provider for most drivers in Minnesota is AAA, with policies that cost $492 per year on average.

Of course, price isn’t everything. You may want to consider a more expensive insurer if it has great customer service and offers the coverage and add-ons you need.

There are several factors that insurance companies look at while determining the cost of your car insurance policy. In Minnesota, the factors that impact the cost of auto insurance most are adding a teen driver to an existing policy, your credit score and age.

The most impactful is to add a teen driver to your policy. In Minnesota, that can triple the cost of your yearly auto insurance.

Insurers deem teen drivers as higher risk than older drivers due to their inexperience and typically charge them significantly more for their car insurance. One study shows that teenage drivers are almost three times as likely to be involved in a fatal crash than drivers over the age of 20.

From all of the differentials used to calculate insurance costs, adding a young driver to your policy is the most expensive in Minnesota. It can increase your premium by 3x.

Your age is another consideration that affects your insurance costs. Young drivers in Minnesota typically have to pay 2.2x more than older drivers.

That means, for example, that a 40-year-old driver in Minnesota pays the least amount for car insurance, while the most expensive rate is paid by drivers aged 19 to 20 for a similar policy.

If you have a poor driving history in Minnesota, you are likely to pay more for auto insurance. Car insurance companies consider drivers with prior violations, including accidents, speeding tickets and DUIs, as high-risk. A poor driving record can double your car insurance premiums in Minnesota.

Your credit score is the second most important factor that impacts auto insurance costs in Minnesota. Drivers with a low credit score may have to pay 2.4x more for insurance than those with good credit.

Car insurance companies look at credit scores so carefully because there’s a risk that drivers with poor credit may have trouble paying their premiums.

The model of your car also impacts insurance costs. Repairs and spare parts for luxury and sports cars cost more than those for standard cars. Certain models also report higher instances of theft and vandalism than others, which increase premium costs.

All in all, the model of your car can double your insurance costs in Minnesota.

Numerous factors go into how to calculate insurance premiums in Minnesota and how each of those factors impacts the cost. Below, MoneyGeek answers some of the most frequently asked questions about how these factors influence insurance premiums.

MoneyGeek partnered with Quadrant Data Services to get car insurance quotes from across Minnesota. Our data science team analyzed how personal factors impacted cost and incorporated our findings into our calculator to provide users with an accurate estimate of their expected yearly auto insurance costs. Read more about our methodology here.