The MINI Cooper, created in the late 1950s, was designed with both excitement and utility in mind. As its British creators knew, it could be fun and convenient to own a small car like the MINI and make a statement about its owner at the same time.
The benefits of owning a small car include ease of parking, comfort when driving on narrow roads, and maneuvering through busy urban areas. Gas mileage is another consideration for small vehicle owners. But if you're going to be zooming around in a MINI you'll want to make sure you have proper car insurance.
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What Type of Insurance Is Best for Your MINI Cooper?
Bodily injury liability: Most states mandate that you have bodily injury liability coverage. If you're in an at-fault accident that results in injuries to other drivers, passengers, or pedestrians, bodily injury liability coverage will help pay for medical expenses and lost wages. It only applies to third parties, not you or your vehicle.
Property damage liability: While bodily injury liability covers people, property damage liability covers any property that is damaged in an accident where you or someone who is authorized is driving your vehicle. It will pay to replace or repair vehicles and structures, but it won't repair or replace your vehicle. This insurance is also mandated in most states.
Medical payments/Personal injury protection: Medical payments or personal injury protection (PIP) coverage assists in paying for medical bills that are associated with getting in an accident. It doesn't matter whether you were at fault and it is required in some states.
Uninsured and underinsured motorist coverage: In the unfortunate event that you're in an accident with an uninsured or underinsured driver, you'll want to have uninsured and underinsured motorist insurance. This coverage pays for damage to your vehicle if the other party doesn't have enough insurance coverage.
Collision: Colliding with another vehicle or an object, like a fence, can result in a costly bill. Collision coverage helps you pay for any damage that you're responsible for out of pocket. Seeing as nearly 90% of accidents are collisions, this coverage is worth looking into even though it's not required.
Comprehensive: For things like hailstorms, freak encounters with wild animals, and the random rock falling from the sky, comprehensive coverage is there to help pay for damage.
Glass coverage: Even a MINI car can result in a big bill if you need to replace the windshield. Instead of paying that cost yourself, you could have your windshield replaced with zero-deductible glass coverage. This policy endorsement is inexpensive and may only cost you a few extra dollars per year.
Gap insurance: When you have a loan on your car or lease it, there's a good chance that you'll owe more on the car than it's worth for a while. This is especially true for brand-new vehicles that immediately lose value when you leave the dealership. If you find yourself in this situation, you may want to purchase gap coverage. This insurance is an endorsement that you add to your policy that pays the difference between your car's value and the amount owed to the financing company. If you're in an accident and your vehicle is a total loss, gap insurance will pay the remaining amount owed on your loan.
What Factors Affect the Cost of Insurance For Your MINI Cooper?
If you drive a significant amount per year, like more than 10,000 miles, you could be facing more expensive insurance premiums. The more often you drive, the greater risk you are of filing a claim.
A clean driving record means lower premium rates. Even one violation can affect your rates. Fortunately, most violations fall off your record after a certain amount of time, and your independent insurance agent can help you understand when that might be.
The Value of Your Car
The higher value your car is the more it will cost to insure. A brand new MINI Cooper will run anywhere between $23,400 and $38,400 depending on the model. If you're hoping to lower your insurance premium you can look into buying an older model versus brand new. As the value of a vehicle depreciates your premium price will follow.
|Average MINI Cooper prices and insurance premiums|
The Safety of your MINI Cooper
Insurers take into consideration the safety ratings and features of your vehicle when determining your insurance premiums. The MINI might be small, but it has big safety features that result in quality safety rankings. The 2020 MINI Cooper scored five-out-of-five in the side passenger crash test and side pole crash. It received four-out-of-five stars in overall and driver front side crash tests. The Insurance Institute for Highway Safety (IIHS) gave the vehicle a "good" rating across the board, which is the Institute's highest designation, making it a good choice for safety despite its size.
Where You Live with Your MINI Cooper
It may come as a surprise that where you live can affect your insurance premiums. While some states are naturally more expensive for insurance than others, whether you live in a big city or a small town can also affect your rates. Driving busier roads and being more susceptible to traffic, theft, and vandalism can all impact the cost of your insurance premiums.
Average Cost to Insure a MINI Cooper
The average annual cost to insure a MINI Cooper is $1,464, or $122 a month, making it a relatively affordable car to insure. Those costs could go up or down depending on if you're a high-risk driver or are willing to take a higher deductible. High-risk drivers will pay an average of $2,880 annually, and high-deductible drivers will pay closer to $1,136. Rates will also vary depending on the MINI Cooper model you purchase.
How Much Does It Cost to Insure a MINI Cooper?
|Average annual premium for MINI Cooper models|
|MINI Cooper Clubman||$1,488|
|MINI Cooper Countryman||$1,464|
|MINI Cooper John Cooper Works||$1,656|
Which states are most affordable and least affordable for car insurance?
Estimated annual MINI Cooper insurance premiums in the United States:
|Most expensive states:|
|Most affordable states:|
Top Insurance Carriers That Insure the MINI Cooper
According to a recent U.S. Independent Insurance Agent Satisfaction Study by J.D. Power, the following companies provide excellent service to their insurance customers:
Where to Find Car Insurance for a MINI Cooper
What insurance you buy for your MINI is determined by some personal factors as well as those related to the model you purchase. Working with an insurance agent who can listen to your story and knows the history of the car you drive can help you find the best insurance policy for you.
Reach out to a TrustedChoice.com agent today to get a quote for insurance on your MINI Cooper. An independent insurance agent can shop dozens of insurance companies and help you get the right type of auto insurance.
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