When it comes to homeowner insurance in Minnesota, there are a few different types of insurance, and each is written for certain types of structures. The most affordable Minnesota homeowner insurance is based on several factors, including the proximity of a hydrant to your home. Your monthly insurance rate for your Bloomington home may be higher or lower than average, depending on several other factors.
Your monthly premium for Duluth home insurance can be more or less above average, as the coverage is entirely tailored to the specific circumstances of your home. What you end up paying for your policy is up to you, as the needs of each homeowner are different.
You need an experienced home insurance broker who will weigh all these factors and find the insurance that best suits you. Our independent insurance agent will ensure that you get the best Rochester homeowner insurance for your needs and budget. Work with us to find a Minneapolis, Minnesota home insurance that fits your needs.
Choose the best Minnesota homeowners insurance company by first checking what they say about their policies. Look for a home insurer to insure your policy, not just a new company.
Of all the companies we analyzed, car owners have the lowest home insurance in Minnesota and the second lowest deductible. Of all our most popular companies in Minnesota, they offer the lowest home and car insurance rates, as well as the highest car insurance rates.
The average cost of homeowner insurance in Minnesota is $2,121, less than a third of the average home insurance amount of $1,943. The average cost of homeowner insurance for travelers is $3,721, about $500 above the national average. Traveler's offers the lowest home and car insurance rates of any of our partner insurers, with an average offer of $1,634 a year.
We recommend asking your Minnesota home insurance company that you are considering to provide an accurate estimate of your specific premium, as your own circumstances are unique and each company has its own method for determining your costs. If you need a lower deductible for your home contents insurance, you can pay to keep your deductible higher. We keep the required and optional coverage the same when comparing prices, but we recommend you consider all Minnesota home insurers to get an accurate estimate for your specific premium, as each company is unique.
Minneapolis, MN homeowners can also choose to bundle their home and car insurance policies to further reduce their home insurance premiums. You can save between 20% and 29% by bundling your home or car insurance with other Minnesota home insurance plans such as Minnesota Home Insurance or Minnesota Auto Insurance. In addition to finding the cheapest auto insurance quotes in Minnesota, try NerdWallet's auto insurance comparison tool, which potentially saves you hundreds.
Have a summary comparing the average homeowner insurance rates in Minneapolis to help you get as much information as possible when you begin your search for homeowner insurance. In the table below, we compare the average insurance rate of homeowners in Minnesota with the average home insurance premiums in other states, such as New York, New Jersey and California.
Minneapolis, MN homeowners with a deductible of $500 pay the highest amount for home insurance, while Minneapolis MN homeowners who pay a deductible of up to $2500 pay the lowest amounts for home insurance, as seen in the table below. The city of Duluth has an average annual rate of 2,048%, making it the second highest in Minnesota, behind Minneapolis, with an annual average of 1,842%. Cities like Dulles have an average annual homeowner insurance rate of about $1,5,000, while Minneapolis has a peak of more than $1,689.00.
Plymouth Home Insurance costs more than any other city in Minnesota, largely because of the high property values in the area. Therefore you need homeowner insurance to help you insure your home against property damage. To find out if there are other risks that are not covered by your MN home insurance, work with your local insurance company or the Minnesota Home Insurance Association (MNHA) or your state's insurance commissioner. The Minnesota Insurance Council, Inc., a division of the Minnesota Department of Insurance, can help you understand these other risks and assess whether you may need additional coverage in your Minnesota home insurance plan.
For general information about Minnesota home insurance, see our guide to the best homeowner insurance in Minnesota. If you want to find out how your home insurer performs in a national comparison, read our study of the best home insurance policies. And if you want to take a deeper look at the leading government home insurers, visit our profile page to learn more about the additional insurance benefits and possible discounts they offer. Note: This is the first of two posts that appear in the Minnesota Home Insurance Guide to Minnesota's Best Home Insurance Series.