Thousands in MN have re-considered car ownership due to COVID, study finds
Minnesota is 18th most expensive state for car insurance in 2021, according to a new report.
61 million Americans have reduced their car insurance coverage due to COVID-19, while 55 million Americans have second thoughts about owning a car due to COVID-19, according to Wallethub data.
“COVID-19 has had a significant impact on people’s car insurance choices, considering that 61 million Americans have already reduced their car insurance coverage because of the pandemic, according to WalletHub’s new car insurance survey,” said Jill Gonzalez, WalletHub analyst. “This trend of reducing car insurance coverage seems likely to continue through 2021, given current sentiment. Roughly 105 million say they’re not getting their money’s worth from their car insurance right now.”
The cheapest car insurance in Minnesota, according to the report, is North Star Mutual.
Other companies in the Top 5 include: Geico, West Bend Mutual, Auto Owners, and State Farm.