Minnesota Homeowners Insurance

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.

• Allstate: Allstate sells coverage at a higher rate than Minnesota's state average, with policies that include $250,000 in dwelling coverage for about $3,007 annually. However, this higher rate can be worth it, considering that Allstate provides many customizable home insurance options, such as optional identity theft coverage, sports equipment coverage, and others. The carrier also offers a multitude of discounts to help reduce your rates.
• Auto-Owners: Auto-Owners is the cheapest home insurance company in Minnesota on our list, with average policies going for just $1,003 annually. The carrier also offers many discounts to help reduce your costs even more. Auto-Owners also offers special optional coverage add-ons like home cyber protection, special personal property coverage, and water backup coverage.
• American Family: American Family also sells affordable coverage in Minnesota at an average of $1,514 per year. The carrier scored well on J.D. Power's Home Insurance Study in recent years. Further, American Family offers many optional coverages to add to your policy, such as equipment breakdown coverage and water backup coverage.

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

City	Annual home insurance cost	Avg. home value	Burglaries (per 1k residents)
Andover	$1,522	$289,500	3.95
Apple Valley	$1,288	$258,000	1.96
Bemidji	$900	$139,900	6.27
Blaine	$1,281	$230,900	2.18
Bloomington	$1,283	$251,300	2.25
Brooklyn Center	$1,048	$172,800	5.06
Brooklyn Park	$1,478	$224,300	4.52
Burnsville	$1,277	$247,500	3.02
Coon Rapids	$1,098	$204,700	3.16
Cottage Grove	$1,254	$249,800	1.55
Duluth	$1,073	$163,300	6.15
Eagan	$1,405	$288,200	2.31
Eden Prairie	$1,748	$368,100	1.56
Edina	$2,130	$476,300	2.88
Fridley	$1,160	$198,200	4.82
Inver Grove Heights	$1,281	$254,500	2.92
Lakeville	$1,433	$311,100	1.47
Mankato	$876	$179,400	5.23
Maple Grove	$1,532	$293,400	1.79
Maplewood	$1,240	$217,300	7.69
Marshall	$993	$154,400	3.59
Minneapolis	$1,382	$251,600	10.16
Minnetonka	$1,681	$347,900	2.74
Moorhead	$1,040	$194,600	3.55
Oakdale	$1,277	$227,700	4.31
Owatonna	$1,088	$166,600	3.09
Plymouth	$1,818	$351,700	2.37
Richfield	$1,056	$225,200	4.78
Rochester	$1,022	$200,100	3.03
Roseville	$1,321	$254,200	7.27
Savage	$1,536	$307,500	2.62
Shakopee	$1,391	$265,500	2.93
Shoreview	$1,472	$275,800	0.3
St. Cloud	$938	$155,500	4.89
St. Louis Park	$1,458	$271,600	3.25
St. Paul	$1,227	$208,000	7.82
Winona	$889	$148,800	0.44
Woodbury	$1,606	$323,000	2.21

Popular Questions about Minnesota Home Insurance

Average Cost of Home Insurance Near You