How Much is Insurance for a Toyota Corolla in Minnesota?

Our content editors always give us grief that when writing about auto insurance, the words “affordable” or “cheap” really shouldn’t be used anywhere in the article. It’s just a fact that cheap auto insurance for a Toyota Corolla is just plain contradictory. Don’t let that bother you, though, because we will tell you how you can quote auto insurance that is cheaper than what you have now.

The likelihood of finding the cheapest insurance for a Toyota Corolla in Minnesota is contingent on many different factors such as if you own the home you live in, if you have ever had a coverage lapse, and if you have a history of accidents. Drivers in Minnesota on average pay approximately $940 every 12 months to insure a Toyota Corolla, but that rate is a ballpark figure that uses rate data for a 50-year-old single female who requires full coverage and $250 physical damage deductibles.

The issue that arises when projecting rates is that it’s very likely that you are not a 50-year-old female, possibly married instead of single, and you want different coverage limits than the example. There is no one cookie-cutter policy that works for everyone, so the only real way to find cheap insurance prices for your Toyota is to comparison shop your policy at each renewal. Quotes are free and you will receive rate quotes from some of the best companies in Minnesota.

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The trim level of your Corolla will most likely have an effect on the cost of coverage, so the rate you will pay to insure a Corolla LE trim level will be $28 less than the cost to insure the more costly Corolla XRS model, as shown in the table below.

Table data represents single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Minnesota minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Rates do not factor in specific location which can revise insurance rates considerably.

Trying to buy affordable insurance is not most people’s favorite thing to do, and deciding which company has the lowest-priced auto insurance rates for a Toyota Corolla will require a bit more work. Each insurance company uses their own calculation for setting prices, so we need to take a look at the most budget-friendly auto insurance companies in Minnesota.

It’s important that readers know that Minnesota auto insurance rates are based on many factors that can increase the cost of having a policy. Simply improving your credit score, buying another vehicle, or having a fender bender can cause premium changes that may make certain companies more expensive than before.

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google.charts.setOnLoadCallback(drawMNT5qcibChart);function drawMNT5qcibChart() {var data = google.visualization.arrayToDataTable([[‘Company’, ‘Rate’, { role: ‘style’ }], [‘Travelers’, 641, ‘#33CFCA’], [‘USAA’, 831, ‘#2AACA8’], [‘Farm Bureau Mutual’, 837, ‘#238F8C’], [‘Western National’, 937, ‘#1D7774’], [‘The Hartford’, 964, ‘#186360’]]);var options = {title: ‘Low-Cost Auto Insurance Companies in Minnesota’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 300,’chartArea’: {left:0,top:50,’width’: ‘100%’, ‘height’: ‘70%’},bar: {groupWidth: “90%”},legend: {position: ‘none’},vAxis: {viewWindowMode:’explicit’,viewWindow:{max:1064,min:0}}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});var view = new google.visualization.DataView(data);view.setColumns([0, 1,{ calc: “stringify”,sourceColumn: 1,type: “string”,role: “annotation” },2]);formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.ColumnChart(document.getElementById(‘qcibt5cic’));chart.draw(view, options);}

Travelers quotes some of the most affordable car insurance rates in Minnesota at around $641 a year. USAA, Farm Bureau Mutual, Western National, and The Hartford also qualify as some of the best Minnesota insurance companies.

As the rates illustrate above, if you currently have coverage with Western National and switched to USAA, you might realize an annual premium reduction of approxmiately $106. Policyholders with The Hartford might save as much as $133 a year, and West Bend Mutual customers might lower prices by up to $150 a year.

Be aware that those estimates are averages across all types of insureds and vehicles and do not factor in a specific rating modification for a Toyota Corolla. So the auto insurance company that fits your situation best may not even be featured in the rate chart shown above. That helps illustrate why you need to compare as many prices as possible using your own driver and vehicle profiles.

Tickets and at-fault accidents raise rates

One of the best ways to maintain cheap insurance for a Toyota Corolla in Minnesota is to drive attentively and avoid traffic citations and accidents. The illustration below demonstrates how citations and fender-benders influence insurance rates for different insured age categories. The data is based on a married female driver, comp and collision included, $100 deductibles, and no discounts are applied to the premium.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘One Speeding Ticket and No Accidents’, ‘One Speeding Ticket and Two Accidents’],[‘Age 20’, 2545,2839,5251],[‘Age 30’, 1785,2077,4493],[‘Age 40’, 1767,2057,4473],[‘Age 50’, 1545,1837,4249],[‘Age 60’, 1473,1763,4177],[‘Age 70’, 1593,1885,4299]]);var options = {title: ‘Impact of Violations and Accidents on Minnesota Toyota Corolla Insurance’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 600,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},colors:[‘#b2da64′,’#eed355′,’#e39e71’],hAxis: {title: ‘Annual Insurance Cost for a Toyota Corolla in Minnesota’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);var chart = new google.visualization.BarChart(document.getElementById(‘qcibvio’));chart.draw(data, options);}

The data above shows the average cost of an auto insurance policy in Minnesota per year with no accidents and a clean driving record is $1,785. Get written up for one speeding ticket and the average cost swells to $2,076, an increase of $292 each year. Now add two accidents along with the one speeding ticket and the 12-month cost of auto insurance for a Toyota Corolla increases to an average of $4,490. That’s an increase of $2,706, or $225 per month, just for being a careless driver!

Don’t stick with an overpriced policy

Minnesota auto insurance rates are influenced by many factors which can substantially change the policy premium. Improving your credit rating, buying a different home, or having a fender bender may cause policy rate changes that can now make some companies cheaper than competitors.

Not only that, but companies change prices every year or even multiple times each year as an adjustment for underwriting gains or losses. A period of increased losses may cause higher priced premiums, while a better loss history may cause lower-cost Corolla insurance rates.

To illustrate this example, the bar chart below shows which company has the cheapest car insurance in Minnesota for a 35-year-old female driver with no prior accidents, a clean driving record, and a high credit rating. When comparing rates based on her current risk profile, Travelers has the best car insurance rates in Minnesota at $641 each year. This is $780 less than the average rate paid by Minnesota drivers of $1,421. USAA, Farm Bureau Mutual, Western National, and West Bend Mutual are the remaining most affordable Minnesota auto insurance companies.

google.charts.setOnLoadCallback(drawMNWitcqcibChart);function drawMNWitcqcibChart() {var data = google.visualization.arrayToDataTable([[‘Company’, ‘Rate’, { role: ‘style’ }],[‘Travelers’, 641, ‘#187C6B’],[‘USAA’, 799, ‘#146759’],[‘Farm Bureau Mutual’, 837, ‘#10554A’],[‘Western National’, 928, ‘#0D463D’],[‘West Bend Mutual’, 943, ‘#0A3A32’]]);var options = {title: ‘Best Cheap Car Insurance for a Toyota Corolla’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 300,’chartArea’: {left:0,top:50,’width’: ‘100%’, ‘height’: ‘70%’},bar: {groupWidth: “90%”},legend: {position: ‘none’},vAxis: {viewWindowMode:’explicit’,viewWindow:{max:1043,min:0}}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});var view = new google.visualization.DataView(data);view.setColumns([0, 1,{ calc: “stringify”,sourceColumn: 1,type: “string”,role: “annotation” },2]);formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.ColumnChart(document.getElementById(‘qcibwitc’));chart.draw(view, options);}

Let’s now give the driver in the first example a chargeable claim, a lower credit score, and a traffic ticket or two. Due to the fact that each insurance company uses their own formula to set policy rates, analyzing rates most likely will result in a different ranking of affordable Minnesota car insurance companies as shown below.

google.charts.setOnLoadCallback(drawMNWcqcibChart);function drawMNWcqcibChart() {var data = google.visualization.arrayToDataTable([[‘Company’, ‘Rate’, { role: ‘style’ }],[‘Farm Bureau Mutual’, 1255.5, ‘#C77F00’],[‘Allied’, 1278.2, ‘#A56900’],[‘USAA’, 1278.4, ‘#895700’],[‘State Farm’, 1334.3, ‘#724800’],[‘California Casualty’, 1335.4, ‘#5F3C00’]]);var options = {title: ‘Cheapest Rates After Accident/Violation’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 300,’chartArea’:{left:0,top:50,’width’: ‘100%’, ‘height’: ‘70%’},bar: {groupWidth: “90%”},legend: {position: ‘none’},vAxis: {viewWindowMode:’explicit’,viewWindow:{max:1435.4,min:0}}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});var view = new google.visualization.DataView(data);view.setColumns([0, 1,{ calc: “stringify”,sourceColumn: 1,type: “string”,role: “annotation” },2]);formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.ColumnChart(document.getElementById(‘qcibwc’));chart.draw(view, options);}

Farm Bureau Mutual now has the cheapest insurance rate in Minnesota with Allied, USAA, State Farm, and California Casualty also being competitive. This illustrates why it is important to take the time to shop around when trying to get the lowest auto insurance quotes for a Toyota Corolla.

Rates are influenced by many different factors and change substantially, so the most economical company when you last compared rates may now be priced much higher than other options.

How to get cheap insurance for a Toyota Corolla in Minnesota

It is possible to find better rates, and here are some penny-pinching ideas that can help Minnesota drivers find cheap coverage.

• Maintain a clean driving record
• Drive safe vehicles
• Do not get into accidents
• If possible, pay for small claims out-of-pocket
• Bundle home or renters insurance to earn a discount on car insurance
• Comparison shop at least every other year

The last item on the list is particularly critical, as was discussed in the prior information. Auto insurance prices can change considerably based on profitability, so you should be ready to switch to a new company if a cheaper rate is available.

Having a favorite company is great, but it’s not a good idea if that loyalty results in overpaying hundreds of dollars year after year. Take a couple minutes and compare rates to find cheaper auto insurance for a Toyota Corolla.