Minnesota Homeowners Insurance

Get a full analysis of Minnesota home insurance costs, companies & coverages.

The Best Homeowners Insurance Companies in Minnesota

Average Cost of Homeowners Insurance in Minnesota

Home Insurance in Minnesota - FAQs

Average Cost of Insurance Near Me

Christine Lacagnina has written thousands of insurance-based articles for TrustedChoice.com by authoring consumable, understandable content.

Christine Lacagnina has written thousands of insurance-based articles for TrustedChoice.com by authoring consumable, understandable content.

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Find the Best Homeowners Insurance Rates & Companies in Minnesota

The current average cost of homeowners insurance in Minnesota is $1,930 per year or around $158 per month for a policy with $250,000 in dwelling coverage. This rate is quite a bit higher than the national average of $1,428 annually for the same amount of coverage. No matter where you live, it's important to have home insurance to protect your Minnesota home against possible losses due to a number of threats like various natural disasters and vandalism.

Fortunately, a Minnesota independent insurance agent can get you equipped with the right kind of home insurance. They'll find you a policy that best suits your needs. For starters, though, here's an overview of Minnesota home insurance.

Best Homeowners Insurance Companies in Minnesota

Many Minnesota insurance companies could provide you with a home insurance policy, but you're looking for the best overall blend of coverage and cost and don't have time to waste. So check out our list of the top home insurance companies in Minnesota and skip right to the best.

A Minnesota independent insurance agent can help you find the right home insurance policy from one of these outstanding local carriers.

What Homeowners Insurance in Minnesota Can Cover

Minnesota sees its fair share of natural disasters that can cause costly damage to homes and personal property. And, having just the standard home insurance coverage may not be enough to protect you in every case. Some of the state's most common natural disasters are floods, severe storms, tornadoes, and wildfires.

Floods

Floods are one of the most common natural disasters in Minnesota. Note that your standard home insurance doesn't cover natural sources of flooding, such as heavy rainfall, tsunamis, and hurricanes. A separate flood insurance policy is needed for protection against flooding disasters.

Severe Storms

Severe storms like thunderstorms are also very common in Minnesota. A standard home insurance policy provides coverage for many of the components of a thunderstorm. Home insurance includes protection against damage caused by hail, lightning strikes, wind, and resulting fires after a lightning strike.

Tornadoes

Tornadoes can also hit Minnesota and cause costly damage. While many home insurance policies include standard coverage for wind, be sure to review your specific policy to be certain yours does.

Wildfires

Wildfires can also wreak havoc on property in Minnesota. Fortunately, standard home insurance provides coverage for many types of fire damage. Wildfires are typically included.

What Homeowners Insurance in Minnesota Won't Cover

Minnesota home insurance has specific exclusions and can't cover every type of disaster. Natural flood disasters are not covered by standard home insurance in Minnesota or any other state. Earthquakes are another type of disaster excluded by home insurance. Separate earthquake insurance is necessary to protect against losses due to damage from these natural disasters. Minnesota has a pretty high risk of flooding, so flood insurance may be a wise decision. However, the state has a very low risk of earthquakes, so you may feel confident in not purchasing this additional coverage. A local independent insurance agent can help you add any types of protection your standard home insurance policy may lack in Minnesota.

Flood Damage in Minnesota

Floods in Minnesota aren't only caused by rain, hurricanes, etc. Sewer line breaks and sewer backups are another source of flooding, and these disasters can plague your home. What's worse, these disasters are excluded by standard home insurance policies unless you opt to add an endorsement or rider. Make sure to add this coverage to your policy specifically if you're concerned about these disasters.

Average Cost of Homeowners Insurance in Minnesota

The current average cost of home insurance in Minnesota is $1,930 per year, or about $158 per month. Since the current national average premium rate for home insurance is $1,428 annually, Minnesota's rates are more expensive by comparison. The increase in home insurance costs in Minnesota may be due to several factors, like higher property values and crime rates. However, the state's risk of various natural disasters can also contribute to higher premiums than in other areas of the US.

Average Minnesota Home Insurance Costs by City

The cost of home insurance also varies right down to the city you live in. In Minnesota, some of the cheapest home insurance premiums are observed in Mankato, at an average of just $876 annually. Here are some Minnesota cities and the average cost of home insurance in each.

How well do Minnesota's cities measure up to the national average?

National average burglary rate 3.76 per 1,000 people

National average home value $269,000

National average home insurance cost $1,428 year

Popular Questions about Minnesota Home Insurance

How much does Minnesota home insurance cost? $1,930/yr.

In Minnesota, the annual average cost of home insurance is $1,930. This is a bit more expensive than the current US average of $1,428.

What does Minnesota homeowners insurance cover?

What your Minnesota home insurance covers depends on the types of coverage you select. However, a standard policy comes with a handful of core protections like dwelling coverage, contents coverage, personal liability coverage, and loss of use coverage.

What are common Minnesota home insurance losses?

Common home insurance losses in Minnesota are due to various natural disasters like thunderstorms and tornadoes. However, wildfires and property crimes like vandalism are also common causes of home insurance losses in Minnesota.

How is my Minnesota homeowners insurance calculated?

The rate of your Minnesota home insurance is calculated by considering several factors. These include the value of your home and personal property, the amount of coverage you need, your personal claims history, the area's crime rate, and more.

Are there any independent insurance agents in Minnesota?

Yes, Minnesota has hundreds of independent insurance agents that can help you find the right home insurance policy. These agents can also help find other types of coverage you may be looking for, and possibly even help you bundle these policies together to save money on premiums.

What are the best homeowners insurance companies in Minnesota?

We found that Allstate, Auto-Owners, and American Family are the best home insurance companies in Minnesota. We chose these carriers due to their coverage options, rates, discounts offered, coverage customization options, and other factors. 

Why work with an independent insurance agent when shopping for home insurance in Minnesota?

A Minnesota independent insurance agent can help you easily find the right home insurance policy. These agents shop and compare policies from many Minnesota home insurance companies. Ultimately, they'll provide you with only the results that offer the best blend of coverage and cost.

Is homeowners insurance required in Minnesota?

No, home insurance is not required by state law in Minnesota. However, a mortgage lender is likely to require you to have coverage.

Do You Know What Your Minnesota Home Insurance Covers?

Average Cost of Home Insurance Near You

Bloomington, MN Homeowners Insurance

The average monthly cost of home insurance in Bloomington is $107. The rate of your actual home insurance policy may vary, though. This is due to a number of factors that go into determining your premium rates, such as your personal claims history, the value of your home and personal property, and more.

Brooklyn Park, MN Homeowners Insurance

The average monthly cost of home insurance in Brooklyn Park is $123. The rate of your actual home insurance policy may vary, though. This is due to a number of factors that go into determining your premium rates, such as your personal claims history, the value of your home and personal property, and more.

Duluth, MN Homeowners Insurance

The average monthly cost of home insurance in Duluth is $89. The rate of your actual home insurance policy may vary, though. This is due to a number of factors that go into determining your premium rates, such as your personal claims history, the value of your home and personal property, and more.

Eagan, MN Homeowners Insurance

The average monthly cost of home insurance in Eagan is $117. The rate of your actual home insurance policy may vary, though. This is due to a number of different factors that go into determining your premium rates, such as your personal claims history, the value of your home and personal property, and more.

Maple Grove, MN Homeowners Insurance

The average monthly cost of home insurance in Maple Grove is $128. The rate of your actual home insurance policy may vary, though. This is due to a number of factors that go into determining your premium rates, such as your personal claims history, the value of your home and personal property, and more.

Minneapolis, MN Homeowners Insurance

The average monthly cost of home insurance in Minneapolis is $115. The rate of your actual home insurance policy may vary, though. This is due to a number of factors that go into determining your premium rates, such as your personal claims history, the value of your home and personal property, and more.

Plymouth, MN Homeowners Insurance

The average monthly cost of home insurance in Plymouth is $152. The rate of your actual home insurance policy may vary, though. This is due to a number of factors that go into determining your premium rates, such as your personal claims history, the value of your home and personal property, and more.

Rochester, MN Homeowners Insurance

The average monthly cost of home insurance in Rochester is $85. The rate of your actual home insurance policy may vary, though. This is due to a number of factors that go into determining your premium rates, such as your personal claims history, the value of your home and personal property, and more.

St. Cloud, MN Homeowners Insurance

The average monthly cost of home insurance in St. Cloud is $78. The rate of your actual home insurance policy may vary, though. This is due to a number of factors that go into determining your premium rates, such as your personal claims history, the value of your home and personal property, and more.

St. Paul, MN Homeowners Insurance

The average monthly cost of home insurance in St. Paul is $102. The rate of your actual home insurance policy may vary, though. This is due to a number of factors that go into determining your premium rates, such as your personal claims history, the value of your home and personal property, and more.

Woodbury, MN Homeowners Insurance

The average monthly cost of home insurance in Woodbury is $134. The rate of your actual home insurance policy may vary, though. This is due to a number of factors that go into determining your premium rates, such as your personal claims history, the value of your home and personal property, and more.

More in Minnesota Insurance Guide:

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https://www.bankrate.com/insurance/homeowners-insurance/minnesota/#how-much-is-home-insurance-in-minnesota

https://www.thezebra.com/homeowners-insurance/minnesota-home-insurance/

https://crisisequipped.com/what-natural-disasters-occur-in-minnesota/

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