Best Minnesota Homeowners Insurance Quotes (2025)

Farmers offers some of the cheapest homeowners insurance policies in Minnesota, with monthly premiums starting at $99.

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The average annual cost of homeowners insurance in Minnesota is $2,197 for a policy with $300,000 in dwelling coverage and a $1,000 deductible. For comparison, the national average home insurance rate is $2,532 per year.

Minnesota has a high average annual snowfall — about 36 inches in the southwest and 70 inches along Lake Superior, for example.1 Heavy snowfall and winter storms can lead to property damages like roof damages or collapses.

It’s important to choose sufficient policy limits for your dwelling and personal belongings. You can compare quotes to find the cheapest coverage for your home.

Here’s what you need to know about homeowners insurance in Minnesota.

Quick Facts

  • Farmers, Western National, Westfield, and Auto-Owners are the cheapest home insurance companies in Minnesota.

  • Most mortgage lenders in Minnesota require homeowners to carry home insurance.

  • Burnsville has the highest average home insurance costs in Minnesota. On average, the annual premium for a $300,000 dwelling policy with a $1,000 deductible is $2,491.

Best home insurance companies in Minnesota

Homeowners in Minnesota have many different options when it comes to buying home insurance. But the best homeowners insurance in Minnesota will depend on your specific needs.

Shopping around and comparing multiple quotes can help you find the best policy at the lowest price. Start your search with four of the best home insurers in Minnesota below.

Disclaimer: Table data sourced from real-time quotes from Insurify's 500+ partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

  • Our editorial team spent more than 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. The team weighted criteria by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.

    We rate each company on a 1 to 10 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: Insurify uses data from AM Best, S&P, Moody’s, and more to compare insurance companies’ credit and ability to pay out future claims.
    • Customer satisfaction: To calculate this score, Insurify analyzed more than 55,000 customer reviews across 155 car insurance companies. We also consider third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
    • Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the U.S., as well as available discounts, to calculate an affordability score.
    • Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
    • Availability and reach: Insurify scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.

Cheapest rates: Western National

Western National has the cheapest average home insurance in Minnesota, with an annual average much lower than the statewide and national averages.

The company sells customizable home insurance with endorsements such as identity theft protection, assisted living coverage, valuable items coverage, replacement cost coverage, debris removal coverage, equipment breakdown insurance, and others. The company’s Penalty-Free Promise prevents your home insurance premium from increasing if you file a claim.

Pros

  • Lowest average premiums in Minnesota

  • Customizable coverage options

Cons

  • Few available discounts

  • Quotes not available online

Best insurer for bundling home and auto insurance: Westfield

Best insurer for coverage options: Auto-Owners

Best insurer for discounts: Farmers

Cheapest home insurance in Minnesota

The cheapest home insurance company in Minnesota is Farmers, with an average monthly premium of $99. But some other reputable Minnesota insurance companies have below-average home insurance rates.

Below, you can see some of the cheapest home insurance companies in Minnesota and their average monthly premiums for a policy with $300,000 in dwelling coverage and a $1,000 deductible.

Cost of homeowners insurance in Minnesota

The average cost of homeowners insurance in Minnesota is $2,196 per year for a policy with $300,000 in dwelling coverage. But your home insurance premiums depend on a variety of criteria.

Your ZIP code, the size and age of your home, your coverage limits, and your deductible are some of the factors that can affect premiums. Additionally, the type of home insurance you choose can also affect the price.

Cost of homeowners insurance by dwelling coverage amount

One of the most significant factors that affects the cost of home insurance in Minnesota is your dwelling coverage limit. In general, the higher your dwelling insurance limit is, the more expensive your premium.

In the table below, you can see the average cost of home insurance in Minnesota based on dwelling coverage amount for policies with a $1,000 deductible.

Cost of homeowners insurance by deductible

When you file a claim, your deductible is the amount you have to pay out of pocket for a covered loss. For example, if you file a personal property claim for $5,000 and you have a $500 deductible, your payout from the insurance company would be $4,500.

Choosing a higher deductible will typically result in a lower insurance premium, and vice versa. Compare average annual premium for a policy with $300,000 in dwelling coverage by deductible below.

How to get cheap homeowners insurance in Minnesota

Here are some tips for saving money on home insurance in Minnesota:

  • Bundle your policies. Many insurance companies offer savings to customers who bundle their homeowners policy with another type of coverage, like auto insurance, life insurance, or RV insurance.

  • Look for discounts. The best home insurance companies in Minnesota offer discounts that can reduce your premium. Every insurer offers different discounts, but you can often find savings for installing a home security system, insuring a new home, and avoiding claims.

  • Choose a higher deductible. If you want to save money on home insurance in Minnesota, consider choosing higher deductibles for dwelling insurance and personal property insurance. Just make sure you can afford to pay a higher deductible in the event of a property damage claim.

  • Install protective devices. One of the best ways to lower your home insurance premium is to install protective devices like a fire sprinkler system, fire alarms, carbon monoxide detectors, and a home security system.

  • Pay your premium in full. Many Minnesota home insurance companies offer savings to customers who pay their annual home insurance premium up front and in full. You might also qualify for a discount if you enroll in automatic payments.

  • Shop around. The cost of homeowners insurance can vary significantly between insurance companies, even for the same type and amount of coverage. To find the cheapest home insurance quotes for your situation, it’s a good idea to shop around and compare personalized rates from multiple insurance companies in Minnesota.2

How much homeowners insurance do you need in Minnesota?

Minnesota doesn’t have a legal requirement for homeowners insurance. But most mortgage companies will require you to purchase a homeowners insurance policy if you take out a mortgage. Even if you don’t have a mortgage, getting home insurance is still a good idea.

Most insurance experts recommend having enough dwelling insurance to cover the cost of rebuilding your home back to its original condition and enough personal property insurance to match the value of your personal items. You can typically choose from several fixed limits for liability insurance, medical payments insurance, and loss of use insurance.

Before you purchase homeowners insurance, it’s important to understand exactly what your home insurance policy covers. If your policy has any gaps, you might want to add endorsements for more protection.

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

Minnesota homeowners can face a variety of risks. Here are some of the most common perils and natural disasters that are important to consider when choosing home insurance in the state:

Minnesota homeowners insurance FAQs

The information below can help answer your remaining questions about Minnesota homeowners insurance.

  • How much is home insurance in Minnesota?

    The average cost of home insurance in Minnesota is $2,197 for a policy with $300,000 in dwelling coverage and a $1,000 deductible. If you live in an area at risk of flooding, you should consider purchasing a flood insurance policy, which will have a separate premium.

  • Which company has the cheapest homeowners insurance in Minnesota?

    With an average monthly home insurance premium of $99, Farmers has the cheapest homeowners insurance in Minnesota. Western National, Westfield, and Auto-Owners also have some of the cheapest premiums in the state of Minnesota. The best way to find cheap coverage is to compare quotes from multiple insurers at once.

  • Does Minnesota require homeowners insurance?

    No. Minnesota law doesn’t require you to buy homeowners insurance. But if you have a mortgage, your mortgage company will require it. Even if you don’t still have a mortgage, it’s a good idea to purchase homeowners insurance to protect your home and assets in the event of covered damages.

  • Why are insurance rates going up in Minnesota?

    Minnesota insurance rates are increasing due to more frequent extreme weather events, increased reinsurance costs, and labor and supplies costs, according to the Minnesota Department of Commerce.5

Elizabeth Rivelli
Elizabeth Rivelli

Elizabeth Rivelli is a freelance writer covering insurance and personal finance. She has extensive knowledge of various insurance lines, including property and casualty, health, and life insurance. Her byline has been featured in dozens of publications, including Investopedia, Forbes, Bankrate, NextAdvisor, and Insurance.com. 

Elizabeth has been a contributor at Insurify since October 2022.

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