If you're moving to Minnesota, one of the first things you need to do is get homeowners insurance. It protects your house and your belongings in case of damage or theft, and most lenders require their customers to have a home insurance policy as part of their mortgage.
Get quotes from at the very least three different insurance companies. Then compare them for coverage, price and customer service. You will have a better understanding of what you need and how to get it.
Average Home Insurance Cost in MN
There are many factors that determine how much you will pay for your Minnesota homeowners insurance, including your age, the amount of coverage you need and the location of your home. You may need to purchase more coverage if you live in an area that is prone to flooding.
You'll also want to take into account your location, crime rates and other risks that could affect your home. If you live in Minneapolis and you are in a neighborhood with a high crime rate, you will want to purchase supplemental liability insurance.
How to purchase a home owner's insurance policy in MN
Minnesota home insurance will cover the structure of your house, as well as any personal belongings and any loss of use. You can get different coverage options depending on your personal property value. Compare quotes to see what you like best.
You should also review your insurance coverage annually, since your lifestyle and home may change. You can then determine if you are paying enough for insurance, and if the coverage is still right for your home.
Best Home Insurance Companies MN
Minnesota is home to many local, national and regional companies. You can find a list of the top-rated carriers in Minnesota by reading their reviews on consumer websites like the Better Business Bureau or by looking for the insurers that have earned an AM Best rating.
Allstate
Allstate has one of best online experiences in the State. The mobile app is easy to use and allows you manage your policy or payments. It also has an assortment of add-ons that can cut costs and improve your peace of mind.
Liberty Mutual
Liberty Mutual Minnesota is the most affordable Minnesota homeowners insurer, offering a $1,046 annual rate compared with the $1,773 average for the state. It offers a wide range of policies, from basic policies for renters and condo owners to more complex ones for older homes or historic houses.
Farmers
Farmers is another Minnesota-based home insurance company offering a range of discounts. The website provides basic information that can be used to compare policies and also informs you about discounts.
HO-6 (walls-in)
A HO-6 policy is a great option for condo owners, small home or mobile home owners. This type of insurance is sometimes called "walls in" and it can be an excellent option for homeowners who have historic or architecturally significant homes.