Best Cheap Car Insurance Quotes for a 20 Year Old Male in Minnesota

Our editors keep telling us that when writing about auto insurance, the word “cheap” should never appear as a descriptor for auto insurance rates. Forgive the oxymoron, but cheap car insurance for 20 year old guys can be hard to find. But fear not, because we will teach you how you can get auto insurance that fits into your budget.

Deciding which company quotes the lowest-priced car insurance rates for 20 year old guys will require more time in order to find the lowest price quote. Every auto insurer uses their own calculation to set policy rates, so to begin we’ll rank the most budget-friendly car insurance companies in Minnesota.

It’s a good idea to be aware that Minnesota car insurance rates are impacted by many things which can substantially decrease or increase the price you have to pay for coverage. Simply having a birthday, moving to a different location, or getting a speeding ticket can trigger changes in premium that can make some companies cheaper than competitors.

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Travelers normally has some of the lowest car insurance rates in Minnesota at around $661 annually. USAA, Farm Bureau Mutual, Western National, and The Hartford also are some of the more affordable Minnesota car insurance companies.

In the above example, if you are a policyholder with USAA and switched to Travelers, you might realize an annual premium reduction of around $146. Insureds with Farm Bureau Mutual could save as much as $152 a year, and Western National insureds might see rate reductions of $240 a year.

To see if your current coverage is too expensive, click here to begin a quote or feel free to get quotes from the companies below.

It’s important to note that these rates are averages across all types of insureds and vehicles and and are not calculated with a price increase for 20 year old guys. So the car insurance company that can offer you the best rate may not even be in the above list. That helps illustrate why you need to get quotes using your own personalized driver profile and vehicle information.

Everyone has different tastes in autos, and the style of vehicle driven is a significant factor that determines if you can find the most affordable car insurance for 20 year old guys. Vehicles with economical engines, an excellent safety record, or a low likelihood of liability claims will cost much less to insure than adrenaline junky models. The information below features car insurance prices for the more afforable vehicles to buy coverage for.

Above prices assume single male driver age 20, no speeding tickets, no at-fault accidents, $1000 deductibles, and Minnesota minimum liability limits. Discounts applied include claim-free, and safe-driver. Information does not factor in specific garaging location which can modify rates greatly.

Data rating is based on single male driver age 20, no speeding tickets, no at-fault accidents, $1000 deductibles, and Minnesota minimum liability limits. Discounts applied include claim-free, and safe-driver. Price information does not factor in Minnesota location which can increase or decrease insurance rates noticeably.

Prices based on single male driver age 20, no speeding tickets, no at-fault accidents, $1000 deductibles, and Minnesota minimum liability limits. Discounts applied include claim-free, and safe-driver. Table data does not factor in specific zip code location which can lower or raise premium rates noticeably.

For young men, one of the more important factors that car insurance companies use to determine the amount you pay for auto insurance is where you choose to live in Minnesota. Areas that are more densely populated or have higher claim rates like Maplewood, Saint Paul, and Edina likely pay more, whereas cities that are not as densely populated benefit from having to pay less for coverage.

The illustration below rates the highest-priced areas in Minnesota for 20 year old guys to purchase a policy in.

Table data uses comparative as specific location information can influence premium rates considerably.

Full coverage versus liability-only

Finding the best cheap auto insurance for 20 year old guys in Minnesota is probably important to most vehicle owners, and one way to reduce the cost of insurance is to only buy liability insurance. The illustration below visualizes the comparison of insurance prices when comparing full coverage to liability only. The rates are based on no claims or violations, $100 deductibles, single status, and no additional discounts are factored in.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $100 Deductibles’, ‘Liability Only’],[‘Age 20’, 4211,1271],[‘Age 30’, 2143,699],[‘Age 40’, 2141,647],[‘Age 50’, 1945,605],[‘Age 60’, 1881,595],[‘Age 70’, 2295,795]]);var options = {title: ‘Comparison of Full Coverage and Liability Only’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Minnesota’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

If we average the cost for ages 20 through 70, full coverage costs $2,436 per year more than just insuring for liability. That is a large expense and it proposes the question when is the right time to remove full coverage. There is no definitive formula of when to stop paying for full coverage, but there is a broad guideline. If the yearly cost for physical damage coverage is more than 10% of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.

For example, let’s say your vehicle’s claim settlement value is $10,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most your company would pay you is $9,000 after paying your deductible. If it’s costing you more than $900 a year for comprehensive and collision coverage, then you might want to think about dropping full coverage.

Irresponsible driving raises your rates

The obvious way to enjoy the most affordable car insurance premiums in Minnesota for young men is to be a careful driver and have a clean driving record. The illustration below highlights how traffic violations and at-fault fender-benders impact insurance costs for each age group. The premiums assume a single female driver, comp and collision included, $500 deductibles, and no policy discounts are applied.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘Two Speeding Tickets and No Accidents’, ‘Two Speeding Tickets and Two Accidents’],[‘Age 20’, 2297,2829,4807],[‘Age 30’, 1583,2115,4093],[‘Age 40’, 1473,2003,3979],[‘Age 50’, 1289,1819,3795],[‘Age 60’, 1245,1775,3755],[‘Age 70’, 1455,1985,3963]]);var options = {title: ‘Effect of Tickets and Accidents on Minnesota Car Insurance Rates’,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 Auto Insurance Cost for Average Vehicle 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);}

In the prior example, the average cost of auto insurance in Minnesota per year with no accidents and a clean driving record is $1,557. Receive two speeding tickets and the average cost jumps to $2,088, an increase of $531 each year. Then add in two accidents along with the two speeding tickets and the yearly cost of car insurance for 20 year old guys increases to an average of $4,065. That’s an increase of $2,508, or $209 per month, just for not being a responsible driver!