What Used Cars are the Cheapest to Insure in Minnesota?
Want to know the cheapest pre-owned vehicle to insure in Minnesota? We researched insurance quotes in the state to save you the effort!
This article covers insurance basics for the state of Minnesota and tips to save money on premiums. We also found the best insurance companies and answered frequently asked questions!
Minnesota Cheapest Used Cars to Insure
We selected 45 award-winning vehicles from the Insurance Institute for Highway Safety’s (IIHS) 2021 Top Safety Pick+ list to determine which used cars are the cheapest to insure in Minnesota. We ran each model through an instant auto-insurance quote generator.
While doing so, we used an in-state address and generic driver credentials to retrieve accurate, average estimates. Below are the three cheapest used vehicles to insure in Minnesota.
1. 2021 XC40 by Volvo
The 2021 Volvo XC40 is the cheapest used vehicle to insure in Minnesota. A full-coverage insurance policy for this four-door SUV costs $364 per month, while a liability-only policy costs $165. Full coverage costs more than Minnesota’s average of $136.92 per month.
The XC40 received the highest safety score in all but one test for crashworthiness by the IIHS. It also received the highest scores for crash avoidance and mitigation. It gets 23 mpg in the city and 32 mpg on the highway.
2. 2021 CX-5 by Mazda
The four-door 2021 Mazda CX-5 SUV is the second-cheapest used vehicle to insure in Minnesota. The CX-5 costs $387 per month to insure with a full-coverage policy, and that is higher than the state average The CX-5 is $173 per month to insure with a liability-only policy.
With a sleek design and engaging tech features, this vehicle got a superior rating from the IIHS in vehicle-to-vehicle front crash prevention and its highest scores in all but one of its crashworthiness tests. It can save you money at the pump with its combined 28 mpg.
3. 2021 CX-30 by Mazda
The 2021 Mazda CX-30 is the third-cheapest used vehicle to insure in Minnesota. This subcompact SUV costs $393 per month for a full-coverage insurance policy and $173 per month for a liability-only insurance policy. These prices are more than the state averages.
The IIHS gave the CX-30 its highest rating on all its crashworthiness tests and its front-crash prevention tests. The CX-30 comes with standard lane departure warning and prevention features to keep passengers safe on the road.
The 45 Cheapest Used Vehicles to Insure in Minnesota
Using only award-winning vehicles on the IIHS’s 2021 Top Safety Pick+ list, we found the cheapest policy estimates for both full and liability-only coverage in Minnesota. We then ran each selected model through an auto-insurance quote generator using a basic driver profile and an in-state address.
The following findings have been ordered from the lowest to highest full-coverage policy cost:
| Year | Make | Model | Full Coverage | Liability Only |
|---|---|---|---|---|
| 2021 | Volvo | XC40 | $364 | $165 |
| 2021 | Mazda | CX-5 | $387 | $173 |
| 2021 | Mazda | CX-30 | $393 | $173 |
| 2021 | Subaru | Outback | $395 | $159 |
| 2021 | Mazda | CX-3 | $395 | $188 |
| 2022 | Hyundai | Tucson | $408 | $175 |
| 2021 | Acura | RDX | $411 | $171 |
| 2021 | Ford | Bronco Sport | $416 | $157 |
| 2021 | Subaru | Forester | $417 | $153 |
| 2021 | Chevrolet | Trailblazer | $425 | $180 |
| 2021 | Subaru | Legacy | $427 | $172 |
| 2021 | Nissan | Murano | $427 | $155 |
| 2021 | Mazda | CX-9 | $433 | $167 |
| 2021 | Honda | Insight | $433 | $190 |
| 2021 | Subaru | Ascent | $444 | $180 |
| 2022 | Honda | Civic | $453 | $176 |
| 2021 | Mazda | 3 | $459 | $189 |
| 2022 | Hyundai | Santa Fe | $461 | $198 |
| 2021 | Toyota | Camry | $466 | $186 |
| 2021 | Toyota | Highlander | $471 | $196 |
| 2021 | Honda | Accord | $496 | $180 |
| 2021 | Audi | Q5 | $501 | $152 |
| 2021 | Nissan | Altima | $522 | $202 |
| 2021 | Volkswagen | ID.4 | $525 | $165 |
| 2022 | Mitsubishi | Outlander | $538 | $228 |
| 2021 | Acura | TLX | $538 | $228 |
| 2021 | Volvo | V60 | $546 | $217 |
| 2021 | Cadillac | XT6 | $560 | $211 |
| 2021 | Volvo | S60 | $561 | $186 |
| 2021 | Kia | K5 | $579 | $215 |
| 2021 | Genesis | G70 | $586 | $237 |
| 2021 | Audi | A6 | $597 | $192 |
| 2021 | Genesis | GV80 | $615 | $205 |
| 2022 | Genesis | G70 | $615 | $237 |
| 2021 | Volvo | S90 | $621 | $176 |
| 2022 | Kia | Stinger | $631 | $218 |
| 2021 | Lexus | ES 350 | $655 | $194 |
| 2021 | Nissan | Maxima | $675 | $224 |
| 2022 | Lexus | ES 350 | $688 | $194 |
| 2021 | Volvo | V90 | $710 | $170 |
| 2021 | Audi | A6 allroad | $727 | $179 |
| 2021 | Audi | A7 | $745 | $192 |
| 2021 | Tesla | Model 3 | $784 | $199 |
| 2021 | Genesis | G80 | $792 | $223 |
| 2021 | Genesis | G90 | $860 | $191 |
Full Coverage vs. Liability Insurance Costs
Liability-only insurance usually costs less than full-coverage insurance. This is because it offers less financial protection than full coverage.
The table below displays the average monthly cost of both policy types in Minnesota:
| Full-coverage policy | Liability-only policy |
|---|---|
| $136.92 a month | $44.75 a month |
The Best Minnesota Car Insurance Companies
The three best automobile insurance companies in Minnesota are State Farm, Berkshire Hathaway, and Nationwide.
We used EverQuote to unveil the market share of each insurance company listed. We also researched the complaint index of each insurer.
The average complaint index is 1, meaning companies with a complaint index below this have received fewer complaints than the average insurer in Minnesota.
| Insurance Company | Market Share | Percent of Total Complaints | Complaint Index |
|---|---|---|---|
| State Farm | 23.52% | N/A | 1.18 |
| Berkshire Hathaway Inc. | 18.55% | N/A | N/A |
| Nationwide | 12.43% | N/A | 0.65 |
| Progressive | 9.67% | N/A | 1.45 |
| USAA | 8.13% | N/A | 2.27 |
| Liberty Mutual | 7.42% | N/A | 2.66 |
| Allstate Corp. | 6.13% | N/A | 2.73 |
| The Hartford | 2.37% | N/A | 0.18 |
| Travelers | 2.03% | N/A | 0.11 |
Disclaimer: The figures presented in the “Complaint Index” column are National Association of Insurance Commissioners (NAIC) ratings.
Tips to Lower Insurance Premiums in Minnesota
Drivers in Minnesota can follow these tips to maximize discounts and minimize insurance premiums:
- Boost your credit score.
- Purchase policy bundles.
- Shop around for the cheapest deal.
- Maintain a clean driving record.
Research Methodology
To determine which used vehicles are the cheapest to insure in Minnesota, we selected 45 award-winning models from the IIHS Top Safety Pick+ list. We ran them through an insurance quote generator using a basic driver profile with an in-state address.
Basic Driver Profile
- 35-year-old male with a bachelor’s degree
- Single and employed full time
- Homeowner but did not bundle policies
- Owns the vehicle rather than leases or finances it
- Has been with the current insurance carrier for five or more years
We used vehicles on the IIHS 2021 Top Safety Pick+ 2021 list. The IIHS is an independent, nonprofit organization that collects safety data for cars on the market.
We used the following limits for liability-only quotes:
- $100,000/$300,000 liability limits
- $100,000 property damage limits
- $10,000 personal injury protection
For the full-coverage quotes, we included the following coverages with the liability selections:
- $1,000 deductible on collision coverage
- $1,000 deductible for comprehensive coverage
- $50/$1,500 rental reimbursement
- $100 roadside assistance
Frequently Asked Questions
What is the cheapest SUV to insure in Minnesota?
The 2021 Volvo XC40 is the cheapest SUV to insure in Minnesota. A full-coverage policy on the XC40 costs $364 per month, and a liability-only policy costs $165 per month.
Are older cars cheaper to insure?
Older cars are often cheaper to insure as they present a lower financial risk. This is because they tend to cost less than newer models, making replacement and repair costs significantly cheaper.
How much liability insurance is required in Minnesota?
Minnesota law requires in-state drivers to have bodily injury liability insurance of at least $30,000 per person and $60,000 per accident. Drivers are additionally required to have a minimum coverage of $10,000 for property damage and $40,000 for personal injury protection.
What is the penalty for driving without insurance in Minnesota?
In Minnesota, first and second-time offenders can pay a fine between $200 and $1,000 for driving without insurance. Offenders also risk having their driver’s license, license plate, and registration suspended for up to a year. To be reinstated, offenders must pay $30 and attain an SR-22 certificate.
What is the basic insurance for a car?
Liability-only coverage is the most basic insurance you can have for a car. This covers at-fault property damage and injuries caused in the event of an accident. Lenders may require drivers to have full coverage when hiring a vehicle that provides both comprehensive and collision coverage.
What car has the highest insurance rates?
Cars that are high value, such as luxury sports cars and rare collectible models, tend to have higher insurance rates. This is because they are more of a financial liability, meaning they cost more to replace and repair.
References
- (2021.) 2021 Top Safety Picks. Insurance Institute for Highway Safety (IIHS). Retrieved April 17, 2023, from https://www.iihs.org/ratings/top-safety-picks/2021?tspPlusOnly#award-winners
- (2023.) Average cost of car insurance in Minnesota for 2023. Bankrate. Retrieved April 17, 2023, from https://www.bankrate.com/insurance/car/average-cost-of-car-insurance-in-minnesota/
- (2019.) Largest Auto Insurance Companies in Delaware. EverQuote. Retrieved April 17, 2023, from https://www.everquote.com/blog/car-insurance/largest-companies-delaware/
- (2023.) State Farm Insurance Review. WalletHub. Retrieved April 17, 2023, from https://wallethub.com/profile/ci/statefarm-13017237i
- (2023.) Progressive Insurance Review. WalletHub. Retrieved April 17, 2023, from https://wallethub.com/profile/ci/progressive-insurance-13015814i
- (2023.) Nationwide Insurance Review. WalletHub. Retrieved April 17, 2023, from https://wallethub.com/profile/ci/nationwide-13303759i
- (2023.) USAA Insurance Review. WalletHub. Retrieved April 17, 2023, from https://wallethub.com/profile/ci/usaa-insurance-13303847i
- (2023.) Liberty Mutual Insurance Review. WalletHub. Retrieved April 17, 2023, from https://wallethub.com/profile/ci/liberty-mutual-13015271i
- (2023.) Allstate Insurance Review. WalletHub. Retrieved April 17, 2023, from https://wallethub.com/edu/ci/allstate-car-insurance-review/62759
- (2023.) The Hartford Insurance Review. WalletHub. Retrieved April 17, 2023, from https://wallethub.com/profile/ci/the-hartford-13016262i
- (2023.) Travelers Insurance Review. WalletHub. Retrieved April 17, 2023, from https://wallethub.com/profile/ci/travelers-insurance-13303756i
- (n.d.) Auto Insurance: What You Need To Know. Minnesota Department of Commerce. Retrieved April 17, 2023, from https://dps.mn.gov/divisions/dvs/forms-documents/documents/autoinsuranceinfo.pdf
- (2022.) Penalties for Driving without Insurance in Minnesota. ValuePenguin. Retrieved April 17, 2023, from https://www.valuepenguin.com/auto-insurance/minnesota/penalties-driving-without-insurance
At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.
