Having adequate homeowners insurance is important for every homeowner, including for homeowners in Minnesota. The average cost of homeowners insurance in Minnesota is $1,785 per year for a policy with $250,000 in dwelling coverage, according to Bankrate’s 2021 study of quoted annual premiums. Minnesota homeowners may want to search for policies that provide coverage for damage resulting from hail, snow and wind.
Some of America’s best homeowners insurance companies operate in Minnesota and are familiar with the potential hazards that homeowners there can face. In addition to price, it may be important to assess other factors of an insurance company, including the quality of customer service, financial stability and claims process.

Best home insurance companies in Minnesota

Bankrate partners with Quadrant Information Services to obtain up-to-date quoted premium information for insurance carriers in Minnesota. After analyzing the average premiums of these companies, Bankrate’s editorial team also reviewed J.D. Power scores, AM Best financial stability scores, coverage options and available discounts to determine the best home insurance companies in Minnesota.

Home insurance company Average annual premium for $250k dwelling J.D. Power score
Allstate $2,740 829/1,000
Auto-Owners $982 843/1,000
Chubb $1,976 778/1,000
North Star Mutual $1,043 Not rated
State Farm $2,042 829/1,000


Allstate offers homeowners insurance with several coverage options to customize your policy, like coverage for sports equipment and identity theft. Allstate also offers a green improvement endorsement, which will pay the additional cost to replace damaged or destroyed property with greener alternatives.

Allstate’s average annual premium in Minnesota is quite a bit higher than the state average premium, but the company does offer numerous discounts that could help you to lower the cost of homeowners insurance. You may be able to save money for being claims free, paying on time or having a home security system.

Learn more: Allstate Insurance Review


Auto-Owners sells insurance in 26 states, and Minnesota is one of them. With the lowest annual premium on our list, you may want to consider getting a quote from Auto-Owners if price is your primary concern. Auto-Owners has more to offer than just low premiums; the company earns an A++ financial strength rating from AM Best.

Auto-Owners offers policyholders several ways to customize their coverage, including options for water backup, service line coverage and identity theft protection. Although the company’s premiums are already low, there are also numerous discounts available that could help you save even more.

Learn more: Auto-Owners Insurance Review


If you own a high-value home in Minnesota, you may want to consider getting a quote from Chubb. The company offers a Masterpiece homeowners insurance policy that is specifically geared toward the unique needs that can come with owning a high-value home.

Chubb offers a unique Risk Consulting feature to its policyholders. A Chubb representative will evaluate your home and help you to identify potential risks, which could help you prevent damage before it happens. The representative can also help you determine if your home is insured at the proper value and may suggest additional coverages that you could take advantage of.

Learn more: Chubb Insurance Review

North Star Insurance

North Star Insurance is headquartered in Cottonwood, MN. Because the company is local to the state, its agents may be more familiar with the specific needs of Minnesota homeowners. It also offers the second-lowest premium on our list.

Although it is a smaller company than the others on our list, North Star Insurance offers an impressive array of coverage options, including refrigerated food products coverage, farm liability coverage and water backup coverage. The company offers savings to mature homeowners, valued customers and those who own a new home.

State Farm

State Farm is a household name. The company is the largest homeowners insurance carrier in the United States, with just under 18% of the market share. If you like having all your insurance products in one place, it may be worthwhile to get a quote from State Farm. The company offers homeowners insurance, auto insurance and life insurance, among other products.

A homeowners insurance policy with State Farm can be customized with options like coverage for musical instruments and keepsakes. You may be able to save money by installing a security system, insuring your car with State Farm or having a newer roof.

Learn more: State Farm Insurance Review

How much is homeowners insurance in Minnesota?

The average cost of homeowners insurance in Minnesota is $1,785 per year for a policy with $250,000 in dwelling coverage. For comparison, the average American homeowner pays $1,312 per year for home insurance.

Minnesota home insurance is more expensive than the national average, and also more expensive than homeowners insurance in neighboring states. In Wisconsin, the average annual home insurance premium is $986, and in Iowa, the average rate is $1,289 per year. Minnesota homeowners insurance rates may be higher than the national average because of the state’s unpredictable winter weather.

Home insurance in Minnesota

Minnesota can experience extreme weather, especially in the winter months. Storms can put homes at risk for damage and even destruction, which is why having a home insurance policy is valuable.

Common causes of loss in Minnesota

Summers in Minnesota are often warm and sunny, but there is always a risk of severe weather and winters can be brutal. Severe weather can put homes at risk, no matter what time of year it happens. Here are some of the most common causes of loss in Minnesota:

  • Hail storms: Summer storms are especially common in Minnesota. They not only bring rain and winds but can also include hail. Hail can be particularly damaging to your roof and siding.
  • Blizzards: Minnesota gets an average of between 36 and 70 inches of snow each winter. Blizzards and snow storms can damage your home, especially if pipes freeze. Heavy snow that sits on the roof for weeks at a time can also bring additional hazards.
  • Flooding: Flooding happens in Minnesota when snow melts. It can also occur after and during summer rainstorms. Floods can cause structural damage to your home’s foundation and electrical system, as well as damage to your personal property.

Before you decide on a homeowners insurance policy, talk to your insurance provider about what additional coverages may be right for your home.

Home insurance coverage options in Minnesota

If you live in Minnesota, you may want to look for an insurance policy that includes coverage tailored to your state’s common causes of loss. You may want to consider the following coverages:

  • Flood insurance: Standard home insurance policies generally do not cover flood damage. If you are concerned about flooding in your area, you can purchase a separate flood insurance policy from the National Flood Insurance Program (NFIP). Several private insurance companies also sell flood insurance.
  • Scheduled personal property coverage: If you own precious or expensive items, scheduled personal property coverage could be beneficial. This coverage allows you to increase your coverage limits for specific items, like jewelry, art, furs or collections.
  • Identity theft insurance: Many home insurance companies offer identity theft coverage, which can help pay for identity restoration services, like credit monitoring and legal fees.

Frequently asked questions

What is the cheapest homeowners insurance in Minnesota?

Since home insurance premiums vary by carrier and depend largely on your individual rating factors, the cheapest company will often be different for everyone. One of the best ways to find the lowest priced coverage for your needs is to get quotes from several different companies. This can allow you to review the coverages offered by each company as well as the quoted premiums.

How do I get homeowners insurance in Minnesota?

Obtaining homeowners insurance is relatively easy. After you have decided what factors matter most to you in an insurance company (like the availability of certain discounts or access to a mobile app), you can request quotes from different carriers. Most companies have the option to request quotes by phone, but you may be able to get a quote online. If the companies you are looking at have local agents, you also likely get quotes from them. You will likely need to provide you name, date of birth and details about your home, such as the year it was built and how old the roof is.

Is flood insurance included in my home insurance policy?

Flood damage is generally not covered on a homeowners insurance policy. You will likely need to purchase a standalone policy, which you can get from some private carriers or from the NFIP. If you are not sure if your home is located in a high-risk flood zone, you can enter your address into FEMA’s Flood Map Service Center.


Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

  • Coverage A, Dwelling: $250,000
  • Coverage B, Other Structures: $25,000
  • Coverage C, Personal Property: $125,000
  • Coverage D, Loss of Use: $50,000
  • Coverage E, Liability: $300,000
  • Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should be used for comparative purposes only. Your quotes will differ.