Cheapest Insurance for a Toyota Tacoma in Minnesota

Finding cheap insurance for a Toyota Tacoma in Minnesota is dependent upon a lot of different factors like how you use your Tacoma, if you are currently insured, and any past driving violations you may have had. Drivers in Minnesota on average pay approximately $880 each year to insure their Tacoma, but that figure is a ballpark figure using rating data for a 30-year-old single male that purchased both comprehensive and collision coverage and $1,000 deductibles.

There is a good possibility you aren’t exactly 30 years old or even a male, possibly married instead of single, and you want different coverage limits than the example. Every driver has a different risk profile, so the only way to find the cheapest coverage for your Toyota is to just compare rates yourself.

Compare Toyota Tacoma Insurance Rates

The trim level of your Tacoma can impact the cost of coverage, so the price you will pay to insure a Tacoma 2WD model will be $44 lower than the price to insure the higher-end Tacoma Double Cab TRD Sport Package 4WD model, as demonstrated by the prices below.

Data variables include single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Minnesota minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, multi-policy, and homeowner. Price estimates do not factor in garaging location in Minnesota which can decrease or increase premiums considerably.

Deciphering which companies quote the most affordable car insurance rates for a Toyota Tacoma will take a little more work in order to find coverage that fits your buget. Every car insurance company has a unique approach for setting rates, so we need to take a look at the most competitive car insurance companies in Minnesota.

Lowest Insurance Price Quotes for Your Tacoma

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Travelers generally has some of the cheapest car insurance rates in Minnesota at around $641 a year. USAA, Farm Bureau Mutual, Western National, and The Hartford would also make the list of some of the more affordable Minnesota car insurance companies.

As the example above demonstrates, if you currently buy coverage from Western National and switched to USAA, you might achieve an annual savings of upwards of $111. Policyholders with The Hartford may save as much as $137 a year, and West Bend Mutual insureds might cut rates by $144 a year.

These premiums are averages across all drivers and vehicles in Minnesota and and are not figured with a specific rate value for a Toyota Tacoma. So the car insurance company that can offer the best rates for your situation may not even be in the above list. That point stresses why you need to compare as many prices as possible using your own specific driver and vehicle information.

The chart below shows how choosing a deductible can change insurance costs when researching cheap insurance for a Toyota Tacoma. The premium estimates are based on a married male driver, comprehensive and collision coverage, and no policy discounts are applied.

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As shown above, a 50-year-old driver could lower their policy premium by $298 a year by switching from a $100 deductible to a $500 deductible, or save $450 by changing to a $1,000 deductible. Young drivers, such as the 20-year-old chart data, could possibly save as much as $1,004 each year just by using higher deductibles. When using a larger deductible, it’s a good idea to have enough savings to allow you to pay the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.

Discount Minnesota auto insurance rates

Insurers that provide the cheapest insurance for a Toyota Tacoma in Minnesota may also offer premium discounts that can lower rates by as much as 25% or more if you meet the requirements. A list of car insurance companies and some of their more popular discounts are detailed below.

• State Farm offers discounts including driver’s education, student away at school, multiple policy, Steer Clear safe driver discount, and good student.
• Esurance policyholders can earn discounts including multi-car, Switch & Save, renters, good student, Pac-12 alumni, online shopper, and online quote.
• Progressive may include discounts for multi-vehicle, homeowner, multi-policy, good student, online quote discount, online signing, and continuous coverage.
• Liberty Mutual offers premium reductions for preferred payment discount, new graduate, multi-car, new vehicle discount, teen driver discount, and new move discount.
• Auto-Owners Insurance may offer discounts for air bags, safe vehicle, paperless, group or association, anti-lock brakes, and anti-theft.
• GEICO has savings for federal employee, anti-lock brakes, anti-theft, daytime running lights, and membership and employees.

The example below visualizes the comparison of insurance costs with and without policy discounts. The data is based on a male driver, no claims or driving citations, Minnesota state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second bar shows the rates with marriage, accident-free, passive restraint, anti-theft, multiple policy, and claim-free discounts applied. With discounts applied, the the amount saved on car insurance for a Toyota Tacoma is 28% or $435.

google.charts.setOnLoadCallback(drawDiscqcibChart);function drawDiscqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Male Driver No Discounts’, ‘Male Driver with Discounts’],[‘Age 20’, 2651,1899],[‘Age 30’, 1383,999],[‘Age 40’, 1349,973],[‘Age 50’, 1237,895],[‘Age 60’, 1201,867],[‘Age 70’, 1501,1079]]);var options = {title: ‘Effect of Discounts on Insurance Price for a Toyota Tacoma’,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 Insurance Cost for a Toyota Tacoma 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(‘qcibdisc’));chart.draw(data, options);}

Progressive, Geico, State Farm, or Allstate: Who is cheapest?

When comparing insurance for a Tacoma in Minnesota, the most popular companies are Progressive, Geico, State Farm, and Allstate. When combined, they have about half of the entire U.S. market share. The table below rates ratings for price, service, and claims, in additional to some of the optional coverages you can buy with each company.

Best cheap Toyota Tacoma insurance quotes

Drivers have a lot of ways to compare car insurance prices in Minnesota, but the most popular are through an independent insurance agent, a captive (or exclusive) agency such as Allstate or State Farm, or direct either online or via phone.

They all have the same end result, but car insurance shoppers should know the differences in how they provide rate quotes.

Independent insurance agents write for multiple companies and can compare rates with every one. These types of agencies are usually affiliated with several companies and can get prices from more than one company, which may provide you with a better chance of saving money. If prices rise, they simply move your policy to a different company and you don’t have to switch agencies.

Exclusive agencies are only able to write business for one insurance company, for example a State Farm or Farmers agent. Exclusive agents are unable to quote rates from more than one company, which does not give you the best rate comparison.

Consumers who buy car insurance direct skip either of the other two types of agents and buy from a direct company like Geico. Shopping for car insurance direct can be a good choice for drivers who do not need high amounts of coverage and have a decent understanding of what coverage limits and deductibles they need.

So which of the methods works best to find the cheapest insurance for a Toyota Tacoma in Minnesota? We’d like to say shopping direct results in the cheapest price because you bypass the agent, but unfortunately, it’s not that simple. We could also assume that buying car insurance from an independent agent saves the most money since they have access to many companies, but that assumption is also not accurate. In many circumstances, exclusive agencies have coverage prices that are the cheapest.

Due to the large number of rating factors, really the only way to buy the cheapest policy is to compare, compare, and compare some more. To find the best rates, be sure to get price quotes from all three to give yourself plenty of rates to compare. For a list of companies offering online discounts, click here to view.