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Minnesota Homeowners Insurance Quotes (2023)

Nationwide and Integrity Insurance offer some of the best homeowners insurance policies in Minnesota.

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Updated March 22, 2023

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Minnesotans know their weather, and that weather can impact their home insurance.

The average monthly cost of home insurance in Minnesota is $244 a month, which isn’t surprising when you consider Minnesotans have to contend with intense winters. A standard homeowners policy protects against damage from the hail, wind, and heavy snow that are commonplace. Homeowners may also need additional coverage for flooding or water damage.

Here’s what you should know about some of the best home insurers in Minnesota, as well as factors you should consider when choosing a policy in the Land of 10,000 Lakes.

Best home insurance companies in Minnesota

Many quality insurers serve homeowners in Minnesota. To find the best insurance company for you, compare some alternatives, keeping your circumstances and your specific needs in mind.

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Best large insurer: Nationwide

Nationwide has been in business for more than 90 years, and it’s one of the largest insurers in the world. It’s accredited by the Better Business Bureau with an A+ rating, and it generally earns positive reviews from customers.[1] It also holds an A+ rating from A.M. Best.[2]

Home insurance from Nationwide costs $234 a month on average in Minnesota.

Pros

  • Customers praise the company’s responsiveness to claims and helpful customer service

  • Offers a variety of discounts, including a discount for bundling and a credit for upgrading a home’s systems

  • Many coverage choices available, such as ordinance insurance, coverage for detached structures, and coverage for antiques and fine art

Cons

  • Premiums are higher than some competitors’

  • Some users report delays in getting through to customer service agents

  • Doesn’t offer the smart home insurance program in Minnesota

Best insurer for cheap rates: Integrity Insurance

Integrity Insurance offers home, renters, auto, and business insurance to customers in Minnesota, Iowa, and Wisconsin. It’s been in business since 1933, and it has an A rating from A.M. Best.[3]

The average monthly premium in Minnesota is $121.

Pros

  • Premiums are low

  • Offers DIY home inspection through its mobile app

  • A range of discounts are available for bundling home and auto insurance, getting a quote in advance, or insuring a new home

Cons

  • Customer service isn’t available on evenings or weekends

  • Few reviews for the company on comparison sites, making it hard to get a full picture of its customer experience

  • Some customers report difficulty getting in touch with agents

Best for wind and hail coverage: American Family Insurance

American Family Insurance is a large insurer that’s been in business since 1927. It has a J.D. Power score of 842 out of 1,000 and an A rating from A.M. Best.[1] [4]

Pros

  • The standard policy covers losses from hail, wind, the weight of snow, and burst pipes

  • Offers add-on coverage for sump pump backups, flood damage, and other events

  • Discounts available for smart home devices, newer homes, loyal customers, and second-generation customers

Cons

  • Uses captive agents

  • Some customers report disagreements with claims adjusters

  • Some users report technical difficulties with the company’s mobile app

Best insurer for high-value homes: Progressive

Progressive is a leading national insurer that was founded in 1937. It holds an A+ rating from A.M. Best.[5] Instead of underwriting policies itself, Progressive matches customers with insurers in its network, including a company that issues high-value policies.

Pros

  • Homes with values of up to $5 million are eligible for insurance policies

  • A wide variety of discounts are available for things like advance quotes, alarm systems, new home purchases, and newly constructed homes

  • Customers can choose to insure belongings at replacement cost

Cons

  • Higher than average number of customer complaints

  • Interior inspection is mandatory for homes with replacement cost of $850,000 or above

  • Some customers dissatisfied with rising premiums

Best regional insurance company: North Star Mutual

North Star Mutual was established in 1920 and has its headquarters in Cottonwood, Minnesota. It has an A+ rating from the Better Business Bureau and also earned an A+ rating from A.M. Best.[6] [7] 

The company made it onto Ward’s Top 50 list of property-casualty insurers for 15 years in a row.

Pros

  • Several coverage options available, including sump pump backup coverage, expanded replacement cost coverage on dwellings, and replacement cost coverage on personal belongings

  • Discounts available for mature homeowners, new or upgraded homes, and bundling with auto coverage

  • Customers can make payments and track claims on the company’s app

Cons

  • No evening or weekend office hours

  • Flood coverage not listed among available products

  • A few users report delays with processing claims

Methodology

Insurify’s team of data scientists analyze millions of home insurance quotes, and weigh publicly available reviews, claims payout rates, complaint indexes, financial strength scores, company reputations, and proprietary quoting data. Our editorial team applies this insight to inform our unbiased reviews and recommendations.

How much is homeowners insurance in Minnesota?

On average, homeowners insurance costs $244 a month in Minnesota. Quotes can vary widely depending on factors like the type of policy, where your home is located, your credit history, and even your marital status.

How your policy choices affect home insurance rates in Minnesota

Your policy choices affect the rate you pay for home insurance in Minnesota.

Your policy form

Homeowners can choose from standard coverage packages called forms. These policy types differ in how they cover perils, which are potential threats to your home or belongings.

Homeowners often get HO-3 policies, which pay for losses to personal possessions caused by any of 16 specified perils. They also cover the dwelling for all perils that aren’t excluded by the policy.[8]

Other forms include the HO-1, which covers only 10 perils, and HO-2, which is a basic policy covering the 16 perils. HO-8 is a policy for older homes that pays for losses at a reduced rate.

Premiums vary depending on the policy form you choose, as policies that reimburse a wider range of losses are more expensive. Whichever type of insurance you’re considering, make sure you understand which perils a policy covers before buying it.

Your coverage level

It’s no surprise that buying extensive coverage is more expensive than buying a small amount. You’ll pay a higher premium if you choose a higher level of coverage. Look for a coverage level that meets your needs and then look for the most affordable policy.

Your deductible

When you file a claim for property damage that your policy covers, you pay for part of the loss and your insurance company pays the other part. The share that you have to pay is your deductible. The deductible can be either a set amount or a percentage of the value your home is insured for. You typically pay the deductible on each claim you file.

A low deductible means that the insurance company is taking on more risk, while a high deductible means that you accept a greater share of the risk. As such, insurers generally charge lower premiums for policies with higher deductibles.

However, if you do opt for a higher deductible, make sure the amount is something you can afford in case you do need to file a claim.

How location affects home insurance rates in Minnesota

Home insurance rates vary between states. And within a state, home insurance may be more expensive in some ZIP codes than in others.

Insurance premiums are typically higher in areas that are more susceptible to natural disasters or have higher crime rates. It can also cost more to insure homes in older neighborhoods or in upscale areas where homes are made of higher-grade materials that cost more to replace.

Another factor that affects rates is how quickly help can arrive in an emergency. “Up north in Minnesota, it’s a big getaway for ice fishing and cabins,” says Kevin Crews, an insurance agent with COUNTRY Financial in Rochester, Minnesota. “Those cabins are a little bit more secluded. And so the further you are away from the fire department, the more secluded you are, typically the higher the premiums are.”

Below are the average monthly home insurance quotes for five different cities in Minnesota.

CityAverage Monthly Quote
Duluth$204
Lakeville$277
Minneapolis$250
Rochester$260
Saint Paul$251
Table data sourced from real-time quotes from Insurify’s partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer’s unique profile.

What are the cheapest home insurance companies in Minnesota?

Integrity Insurance has the lowest rates in Minnesota, with an average quote of $121 a month — $123 less than the state average of $244 a month. Other affordable options are State Auto, with an average monthly quote of $162, and Travelers, with an average monthly quote of $165.

It’s best to compare quotes for your specific situation, though, because rates may be higher depending on how much coverage you need.

Below are some insurers and their average monthly quotes.

Insurance CompanyAverage Monthly Quote
Integrity$121
State Auto$162
Travelers$165
Stillwater$174
Acuity$195
Liberty Mutual$214
Midvale Home & Auto$224
Nationwide$234
Hippo$257
Safeco$601
Table data sourced from real-time quotes from Insurify’s partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer’s unique profile.

How much homeowners insurance do you need in Minnesota?

If you take out a home loan, your mortgage lender will typically require you to buy homeowners insurance, usually up to the value of your mortgage. You may need additional coverage beyond the minimum set by your lender, though, so it’s important to understand all your options and consider what a policy covers before signing it.

A homeowners policy has several standard components, and you might want to add optional coverages as well.

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What home insurance coverages should you buy in Minnesota?

These are the standard parts of a home insurance policy:

  • Dwelling: This protects you in case your home is damaged by a covered peril, like hail or fire. You may be covered for replacement cost, which is the cost of repairing or rebuilding the home, or actual cash value, which is that cost minus depreciation.

  • Other structures: A stand-alone garage, shed, or guest building needs coverage separately from your main home.

  • Personal property: This covers your belongings, like furniture or electronics, if they’re stolen or destroyed in a covered disaster. The limit on part of the policy usually amounts to 50% to 70% of what your home’s structure is insured for.

  • Liability: This protects you in case of a lawsuit if you, your family member, or a covered pet injures someone else or damages their property. This coverage applies anywhere, not just for incidents that happen in your home.

  • Loss of use: If you can’t live in your home because it’s been damaged or destroyed by a covered disaster, this part of your policy pays for expenses like staying in a hotel or eating in restaurants.

What optional home insurance coverages should you buy in Minnesota?

If you need more protection than a standard policy provides, you might consider getting endorsements to include the following coverages:

  • Sump pump coverage: “With the heavy winters, all that snow and ice thaws out and sometimes it ends up in people’s basements,” Crews says. Sump pump coverage offers protection in case backed-up water damages drywall, carpet, or personal belongings.

  • Flood insurance: If you’re in a flood zone, your mortgage lender will typically require you to buy flood insurance, which isn’t included in a standard homeowners policy. It’s also a good idea to buy this optional coverage if your home is near a flood zone.

  • Extended replacement cost coverage: Minnesota has seen significant inflation, which affects the cost of building a home. This coverage pays a set percentage over the policy’s limit if it costs more to rebuild after a disaster.[9]

  • A floater for high-value belongings: Expensive items like jewelry or antiques are covered by standard home insurance policies but typically have low limits if they’re stolen. Getting valuables appraised and insuring them individually will provide additional protection against theft and can also cover items that are accidentally misplaced.

How much home insurance coverage should you have in Minnesota?

Every home has different risk factors, so there’s no one insurance policy that’s right for everyone. Consider these points to figure out how much coverage you need:

  • Your home’s size and materials: How many square feet you own and how your home was built affect how much it would cost to rebuild. You may need more coverage if your home has luxury features or a custom design that would be expensive to replicate.

  • Your home’s location: If your home is near a river or lake, you’ll likely need additional coverage in case of water damage.

  • Your local laws: If your local government has updated its building codes since your home was built, it may cost more to rebuild your home after a disaster because you’ll need to comply with the current codes. You might want to add an ordinance endorsement to cover this extra expense.

  • Inflation: Some homeowners policies automatically raise limits upon renewal to keep up with rising building costs. If you’re considering a policy that doesn’t address inflation, you might consider adding an endorsement.

As you explore your coverage options, get quotes from at least three insurers so you can make an informed decision.

What are some of the biggest risks when owning a home in Minnesota?

Minnesota is known for its brutal winters, and powerful storms can pose a threat to homeowners. Be prepared for these conditions:

  • Wind and hail: Minnesota is home to Rochester, the second-windiest city in the U.S., where the average wind speed is above 12 m.p.h. The state also sees an average of 29 tornadoes a year. Standard home insurance policies typically cover wind and hail damage, but some have a separate wind and hail deductible that could mean paying more out of pocket after a storm hits.

  • Snow accumulation: On average, more than 61 inches of snow falls in the state each winter. A standard policy covers damage caused by the weight of snow but usually doesn’t cover water damage from snow that’s thawed. Homeowners can buy optional sump pump coverage from their insurer for protection against water backup in basements.

  • Flooding: Minnesota experienced 117 flash floods between 1970 and 2012, and the danger from floods is increasing because the state sees more frequent and heavy rainfall than in the past. Standard home insurance policies don’t cover flooding, but homeowners in participating communities can buy a flood policy through the National Flood Insurance Program. Some private insurance companies also sell flood policies.

How can you save money on homeowners insurance in Minnesota?

Looking for discounts and shopping around for the best price may save you money on premiums. Here are some things you can do to save money on homeowners insurance. 

Bundle home and auto insurance

“When you’re sitting down with your agent, most of the time they ask, ‘Who do you have your auto insurance with?’ By bundling that together, you get the multi-policy discount and that can be one of the larger discounts we have to offer,” Crews says. Plus, it can be more convenient to have multiple policies with the same company.

Invest in smart devices

Some insurers offer discounts for smart thermostats, smoke alarms, or burglar alarm systems. Upgrading these devices can help you better protect your home while trimming your insurance costs.

Improve your credit

Your credit is one of the factors that influence your homeowners insurance rates. Raising your credit score by keeping debt under 30% of your credit limit, making on-time payments consistently, and limiting applications for new credit accounts might boost your chances of getting a good rate.

Comparison shop

Some insurers may quote you better rates than others. Try to request quotes from three or more companies so you get an idea of the range of prices on offer.

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Average home replacement cost in Minnesota

Replacement cost is the cost to rebuild a damaged or destroyed home with the same type and quality of materials. This amount may differ from the price you paid for the home or what it cost to build it originally. Rising material or labor costs could drive the replacement cost higher.

Consider your home’s replacement cost when deciding how much coverage to buy. If your home is demolished in a worst-case scenario, you’ll want to have enough coverage to rebuild it as it was. Insuring your home for less than the replacement cost could mean being forced to downgrade to a more modest dwelling if disaster strikes.

These are the average home values in some of Minnesota’s major cities:

CityAverage Home Value
Duluth$207,458
Lakeville$446,099
Minneapolis$454,783
Rochester$334,572
Saint Paul$376,640

Minnesota home insurance FAQs

Here are answers to some commonly asked questions about home insurance in Minnesota.

  • On average, home insurance premiums are $244 a month in Minnesota. If you buy sump pump backup coverage or other secondary coverages, that will typically add to the total cost you pay.

  • Homeowners insurance costs in Minnesota are slightly above the national average. Although the state doesn’t experience certain types of natural disasters, like hurricanes and earthquakes, its harsh winter weather and heavy winds might account for the higher premiums.

  • Actual cash value, replacement cost, and extended replacement cost are the three types of homeowners insurance. Actual cash value covers the cost of replacing your property, minus depreciation, while replacement cost covers the current market price. If the cost of replacing your property exceeds the policy limit, extended replacement cost provides additional coverage.

  • No law requires you to have homeowners insurance, but your mortgage lender will typically require you to buy a policy. And even if you aren’t required to have insurance, it’s important to get coverage to protect yourself against lawsuits and to prepare for natural disasters.

Sources

  1. Better Business Bureau. "Nationwide." Accessed March 2, 2023
  2. AM Best. "Nationwide." Accessed March 2, 2023
  3. AM Best. "Integrity Insurance." Accessed March 2, 2023
  4. AM Best. "American Family Insurance." Accessed March 2, 2023
  5. AM Best. "Progressive." Accessed March 2, 2023
  6. Better Business Bureau. "North Star Mutual." Accessed March 2, 2023
  7. AM Best. "North Star Mutual." Accessed March 2, 2023
  8. Insurance Information Institute. "Are there different types of policies?." Accessed March 2, 2023
  9. Insurance Information Institute. "Homeowners Insurance Basics." Accessed March 2, 2023
Sarah Brodsky
Sarah Brodsky

Sarah Brodsky is a freelance writer with 15 years of experience covering personal finance and economics. She enjoys delving into the details of insurance, credit, loans, and the labor market. She’s written for publications including Bankrate, CNET, and Investopedia, and she’s created content for brands like Credit Karma, KeyBank, and Thrivent. When she’s not writing, you might find her learning languages or baking pizza. She has an AB in economics from the University of Chicago, and she lives in St. Louis, MO. Connect with her on LinkedIn.