Best Homeowners Insurance in Minnesota

As a homeowner in Minnesota, you probably understand the importance of securing the best homeowners insurance policy. Not only is it probably required by your lender, but you also have to worry about your home being damaged during the many snow storms that can strike during the cold winters.

Ice and wind damage are a sure threat to your home, and you even have to worry about flooding when the ice and snow melt after the temperatures rise again. You might be concerned about Minnesota homeowners insurance rates by our insurance rates being higher than it is for residents of other states because of the harsh winter conditions, but using our online tool can help you secure cheap coverage that will protect your home. Then, your home will be protected in the event of damage or other problems, and you can compare estimates to save as much money on your insurance policy as possible.

Facts and Figures About Home Ownership in Minnesota

 

  • Percentage of MN Homeowners: 72%
  • Percentage of MN Renters: 26%
  • Average MN Home Cost: $158,000
  • Average MN Homeowners Insurance Costs: $1,087 Annually

 

Factors That Affect Your Minnesota Homeowners Insurance Rates

First of all, you should know that insurance companies look at many different factors when determining your homeowner’s insurance rates in Minnesota. By knowing what they look at, you can make decisions that can help you secure more affordable insurance coverage.

Age of Home

Older homes often do not have updated roofs and other modern advantages that can help protect them during inclement weather. This means that they can be more expensive to insure since there is a higher risk that your home might be seriously damaged during a serious storm. Luckily, making upgrades to your home can help you enjoy lower Minnesota homeowners insurance rates.

Type of Home

Mobile homes are not considered to be as durable as stick-built homes. This means that you can certainly expect to pay less for your home to be insured if you have a brick house versus a mobile home. In fact, if you do have a mobile home, you may have to secure a special type of insurance, which might not be offered by all Minnesota homeowners insurance companies.

Home Improvements

Installing new siding or otherwise upgrading your home to help make it more durable against inclement weather can help you save money on your Minnesota homeowners insurance. This is because the insurance company considers your home better able to withstand harsh winter-related and other weather conditions.

Type of Policy

If you need to cover expensive property, such as an outdoor building, then your premiums will obviously be higher than if you were only covering your home and land. Also, choosing lower deductibles will result in higher monthly payments. Paying your Minnesota homeowners insurance annually rather than every month is one simple way that you can save.

Dogs

Having pets might not seem like it would have an effect on your insurance costs, but having certain breeds of dogs can make you seem like a higher risk to your insurance company. This is because insurers worry about dogs biting people, which can result in a lawsuit that your insurance company might have to pay for.

Size and Value of Home

In general, a home with more square footage will be more expensive to insure, since the insurance company will have to pay out more if something happens to your home. The value of your home is also looked at.

5 of the Best Homeowners Insurance Companies in Minnesota

 

  • American Family
  • Fireman’s Fund
  • State Farm
  • Progressive
  • Allstate

 

Minnesotans: Shop for Homeowners Insurance Today

If you are currently shopping for the best homeowners insurance in Minnesota, we can help you find the best rates. Shopping for cheap homeowners insurance in MN can be a big pain, since you typically have to call various providers or fill out quote forms on multiple websites. We make it easier than ever, however, so use our online tool to find quotes. Then, you’ll be able to find the most affordable rates while securing the best coverage for your home.