Minnesota’s northern location in the Upper Midwest creates conditions for extreme weather — and an increased risk of damage for homeowners. Hot summers and snowy winters have led the state to experience one of the largest hikes in homeowners insurance premiums, with the average rate in the state hovering around $1,333 a year, according to Insurance.com.
When shopping for Minnesota homeowners insurance, look for a company that not only offers reasonable premium rates but also has wide coverage options to protect your biggest investment. To help you in your search, we’ve outlined our top picks and included an online quote tool so you can easily compare prices and policies in your area.
Our Top Picks for Best Homeowners Insurance in Minnesota
- State Farm
- American Family
- Farmers Insurance
State Farm
Boasting the highest possible rating for financial stability (A++) from A.M. Best and owning the largest market share of the Minnesota insurance market, State Farm is a clear choice for some of the best homeowners insurance in the North Star State. Plus, the company’s quote tool is comprehensive and easy to use, and its agent finder tool works well. The company upholds a lengthy reputation for exceptional service and affordable premium prices.
State Farm offers a wide choice of policy options, with coverage available for nearly every type of standard dwelling. Policies can be customized with added protections for personal injury, liability protection, and identity theft restoration services, an increasingly valuable offering.
State Farm’s Discount Double Check feature helps you save money on your policy by ensuring that any discount you’re eligible for is automatically applied to your policy premium rate. Discount options from State Farm include those for bundling home and auto insurance products, installing home security devices likes sprinklers and deadbolts, and opting for a higher deductible.
However, State Farm does not extend premium deductions to new homeowners or for recently renovated homes, a popular discount at other national providers. If you fall into one of these categories, factor in your potential savings when using the quote tool to compare policies.
American Family
American Family is a popular choice for homeowners insurance in Minnesota due to its affordability and highly rated customer service department. With AmFam, you are guaranteed to receive the right price on your policy based on several personal insurance factors.
The company automatically reduces premium rates if you haven’t filed a claim for at least six years or you’ve been a consistent AmFam customer. Additional savings are added for bundling insurance products, installing protective devices, insuring a home with an impact-resistant roof, or insuring a new or recently renovated home.
Standard coverage from American Family protects your home from damage caused by fire and lightning, windstorms, vandalism, smoke, and theft, with additional protection to cover living costs incurred should you be temporarily displaced from your home after a covered loss. Policies can be supplemented with add-on coverage that protects against liability, identity theft, personal injury and personal property replacement. Also, if you run a home-based business, AmFam will provide additional liability and personal property coverage.
Should you experience a loss, make sure you’re prepared by taking advantage of AmFam’s Dream Vault tool. This personal online inventory allows you to document all your covered possessions and their respective worth, so you can cut out the guesswork in the event of a disaster and efficiently file a claim.
Farmers Insurance
Farmers offers extensive discount options and some of the stronger claims management tools in the market, making the company another strong choice for Minnesota homeowners. Farmers helps you save on your homeowners insurance premium by offering deductions for new homes, homes with updated major systems (i.e., plumbing or electric), recently replaced roofs, as well as homes equipped with security devices.
Farmers also offers additional savings if everyone in your home is a non-smoker, if you’ve had your home recently inspected, or if you’ve made any certified, green home-efficiency renovations. Ask about their “eco-rebuild” option, where you can receive $25,000 to repair, rebuild or replace your home with green materials after you file a claim.
If you’ve experienced a loss, you can easily file a claim with Farmers and feel confident throughout the process. Claims can be reported over the phone, in person with a local agent, online or via the Farmers Mobile App. Once processed, your claim is then assigned to a claims professional and can be tracked until its resolution using Farmer’s online Claims Tracker tool.
Farmers also maintains several partnerships with local Minnesota contractors and can put you directly in contact with them to carry out emergency repairs and make your home safe after a covered loss.
How much is homeowners insurance in Minnesota?
The average insurance premium in Minnesota is $1,333, which is $104 more, or 9 percent higher than the national average of $1,228. Minnesota’s extremes in weather can cause big differences in insurance premiums from city to city, though.
Minnesota Rate Factors
Going all the way back to 1888, Minnesota has an unfortunate history of natural disasters. The state has experienced fires, tornadoes, floods and blizzards. As Minnesota sits on the northern end of what is known as “Tornado Alley,” tornadoes are a concern.
The Best 3 Minnesota Homeowners Insurance Companies
- State Farm
- American Family
- Farmers Insurance
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