Cheapest Insurance for a Subaru Impreza in Minnesota

The chances that you’ll find the cheapest car insurance for a Subaru Impreza in Minnesota is dependent upon many rating factors like your date of birth, whether or not you have filed claims in the past, and any prior driving offenses. Drivers in Minnesota pay an average rate of $1,330 a year to buy insurance for a Subaru Impreza, but that rate is a valuation using rating data for a 30-year-old single female that included full coverage and $250 policy deductibles.

Odds are that you’re not a 30-year-old female, you might be married instead of single, or maybe your Minnesota zip code is rated higher than the example. Just a minor difference in the factors used in pricing a policy may result in significant differences in the cost of insurance for a Subaru Impreza.

There is no “one size fits all” policy, so the best method for finding affordable rates for your Subaru is to regularly compare rates at renewal.

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The specific model of Impreza tends to have a direct effect on the yearly cost, so the price to insure a Impreza 2.5I 4WD Station Wagon model will cost $342 less than the price to insure the high end Impreza WRX STI 4WD Station Wagon model, as shown in the chart below.

Price data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Minnesota minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, multi-policy, and homeowner. Rate quotes do not factor in specific zip code location which can lower or raise rates substantially.

Ending up with the best insurer is hard considering how many companies sell insurance in Minnesota. The company rank data shown next may help you choose which car insurance companies you want to consider when shopping your coverage around.

These rankings only include companies that insure vehicles nationwide, so companies that focus mainly on Minnesota business will not be included in the list. If you wish to compare prices from the most competitive companies in Minnesota, just click here.

Top 10 Large Auto Insurance Providers in Minnesota Ranked by Customer Satisfaction

1. USAA – 92%
2. American Family – 88%
3. State Farm – 88%
4. Nationwide – 88%
5. 21st Century – 88%
6. The Hartford – 87%
7. Progressive – 87%
8. AAA Insurance – 87%
9. Farmers Insurance – 87%
10. Liberty Mutual – 87%

Top 10 Large Auto Insurance Providers in Minnesota Ranked by Claims Service

1. Progressive
2. Travelers
3. Liberty Mutual
4. Nationwide
5. USAA
6. AAA Insurance
7. Safeco Insurance
8. GEICO
9. Esurance
10. The General

Top Companies for Subaru Impreza Insurance in Minnesota

Difference between full coverage and liability only rates

Finding the cheapest insurance for a Subaru Impreza in Minnesota is the goal of the majority of vehicle owners, and one of the best ways to pay lower rates for insurance is to not insure for full coverage. The example below illustrates the difference between yearly insurance costs with full phyical damage coverage and with liability coverage only. The data assumes no claims, a clean driving record, $500 deductibles, single marital status, and no policy discounts are applied.

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If we average the cost for ages 20 through 70, physical damage coverage costs $2,056 per year more than insuring for liability only. Lot’s of drivers question if you should buy full coverage. There is no set rule to stop buying physical damage insurance, but there is a broad guideline. If the yearly cost of comp and collision coverage is 10% or more of replacement cost minus your deductible, then it may be the right time to buy liability only.

For example, let’s say your vehicle’s claim settlement value is $4,500 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would receive is $3,500 after the policy deductible has been paid. If you are paying over $350 annually to have full coverage, then you might want to think about dropping full coverage.

There are a few cases where dropping physical damage coverage is not a good idea. If you still owe a portion of the original loan, you must maintain physical damage coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.

The diagram below illustrates how your choice of deductibles can raise or lower insurance costs when searching for cheap insurance for a Subaru Impreza. The data is based on a single male driver, full coverage, and no other discounts are factored in.

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In the chart above, a 30-year-old driver could save $408 a year by switching from a $100 deductible up to a $500 deductible, or save $614 by selecting a $1,000 deductible. Younger drivers, such as the 20-year-old chart data, could shave $1,202 or even more by using higher deductibles when buying full coverage. If you do make the decision to raise your deductibles, it will be important to have additional funds squirreled away to satisfy the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.

Cheapest car insurance: Allstate, Progressive, Geico, or State Farm

When buying insurance for an Impreza in Minnesota, some of the largest companies to start with are Allstate, Progressive, Geico, and State Farm. Between them, they insure 48.5% of the entire U.S. market share. All of them offer physical damage and liability coverage, but each has slightly different options that buyers can choose from. The next table breaks down price and claims rank as well as some different options that may be available in Minnesota.

Who has the cheapest Subaru Impreza insurance quotes?

Thanks to technology, drivers have a lot of ways to find cheap car insurance in Minnesota, but the most preferred methods are through an independent insurance agent, a captive (or exclusive) agency like Allstate or Auto-Owners, or direct from companies such as Geico or Progressive.

They all have the same end result, but they differ slightly in how they price policies.

Independent insurance agencies are appointed by several companies and can compare rates with every one. Independent agents have the option to provide you with more rates, which can give you a better chance of finding cheaper coverage. If premiums increase, they simply switch companies in-house and you don’t have to do anything.

An exclusive ageny is usually just provide rates from one insurance company like a Liberty Mutual or State Farm agent. Exclusive agencies are unable to provide prices from multiple companies, so if their pricing is high, there is no alternative.

Buying direct means you forego either of the other two types of agents and instead buy direct either online or via phone. Buying car insurance direct can be a good choice for people who do not need advice for risk management and have an above average understanding of what car insurance covers.

So which of those three methods works best for finding the cheapest insurance for a Subaru Impreza in Minnesota? One answer would be shopping direct saves money because there isn’t an agent involved, but in reality, that is not the case. A good argument could also be made that buying car insurance from an independent agent guarantees the lowest rates since there are more companies to choose from, but that assumption is not true either. In a lot of cases, the exclusive agents have price quotes that are well below what direct and independents offer.

Because of the variability of car insurance rates, the only real way to buy the cheapest policy is to obtain price quotes and compare them. If you want to save money, get rate quotes from independent agents, exclusive agents, and direct companies to give yourself the best selection. For a list of companies with some of the cheapest Minnesota car insurance rates, click here to view.