Homeowners Insurance in Minnesota

What factors influence my home insurance rate?

Minnesota home insurance rates are heavily influenced by the state’s extreme weather. It’s common for average snowfalls to reach 36 inches in the southwest and 70 inches along the Lake Superior snow belt, according to Minnesota Department of Natural Resources data. In summer, the state has more than 32 inches of rainfall in the southeast and 18 inches in the northwest. 

These factors can also influence how much home insurance is in Minnesota: 

• Home’s size and age. Larger, older homes are generally more expensive to insure than smaller, newer ones. 
• Your location. If you’re along the Snow Belt near Lake Superior or in a flood plain near one of Minnesota’s 11,842 lakes, your premium could be slightly higher than the state average. 
• Your credit score. If you have poor credit, you can expect to pay 70% more for home insurance in Minnesota than those with good credit, according to a Nerdwallet analysis. 
• You or your property’s claims history. If you’ve filed a claim in the past three to five years, you may pay more for insurance. The same goes for the home you live in — if it’s had claims filed against it in the past few years, even if you weren’t the one to file the claims, your Minnesota homeowners insurance rates could be higher. 

Common insurance discounts in Minnesota

Although home insurance in Minnesota is around the national average, you may be able to lower your premiums by checking if your provider offers any discounts. 

Some common home insurance discounts to ask about include:

• Multi-policy discount. Bundling your home insurance with another policy from the same company could save you up to 25% on your premiums. 
• Newly purchased home discount. If you bought or built your home within the past 12 months, you may qualify for a discount. Hippo offers a recent purchase discount.
• Security features discount. Installing safety devices like smoke detectors, burglar alarms, or deadbolt locks could lower your premiums. We provide a free smart home kit at Hippo when you purchase a policy, which can help you qualify for our smart home discount.
• Claims-free discount. If you haven't filed any claims in the past three or five years, you might be eligible for a discount. 
• New roof discount. Replacing your roof could help you save on Minnesota home insurance. Hippo offers a hail resistance discount for having a hail-resistant roof.
• Affinity discount. Hippo offers a discount for belonging to a partner group, and other insurance providers may, too. 
• HOA discount. If you purchase Minnesota condo insurance, you could get a discount if your home is located in a qualifying HOA.

Tips for lowering home insurance rates

Whether you want to get your Minnesota home insurance estimate down to grow your rainy day fund or to buy more Vikings tickets, there are plenty of ways to do it.

• Shop for other providers. The Insurance Information Institute recommends getting home insurance quotes from at least three providers. Here’s how to change home insurance companies if you find better coverage at a more affordable price somewhere else.
• Add safety features to your home. Smart home devices such as water leak detection and alarm systems can help keep your home safer and lower your premiums. 
• Stay on top of home maintenance. Use our winter home maintenance checklist to prepare your home for Minnesota’s colder months, and consider updating your roof, windows or HVAC system if they’re more than a few decades old. You can also use some of that Minnesotan charm to convince your neighbors to go in on updating your fence — which can save you both money.  
• Review your insurance score. Your home insurance score represents how risky you are to insure. It culminates your credit score, claims history, payment history, home, location, and more. Reviewing your score and improving weak factors (like your credit score) could help you save money on homeowners insurance in MN.
• Limit the number of claims you file. Filing fewer claims can help keep your premiums low. If possible, consider paying for small repairs out of pocket. 
• Adjust your coverage. Dropping insurance riders you don’t need, adjusting your policy terms, and raising your deductible can lower your premiums. But make sure you can comfortably afford the insurance deductible you choose.

What does Minnesota home insurance cover?

A standard HO-3 home insurance policy in Minnesota typically covers direct losses related to perils like fire, lightning, wind storms, hail, tornadoes, smoke, vandalism, theft, falling objects, and the weight of snow, ice, and sleet. So, if snow builds up on your roof and damages your house's structure and collection of Breezers, you'd be covered.

Home insurance usually covers these items on a named perils or open perils basis: 

• Physical structure. Your dwelling coverage protects your physical home and all its attached structures (think garages, porches, and carports). 
• Additional structures. Your other structures coverage includes any detached structures on your property, like fences, sheds, and workshops. 
• Personal possessions. Personal property coverage covers all your physical items, including clothes, furniture, gear, appliances, art, decor, and electronics. This part of your policy usually has sub-limits for high-value categories of items like jewelry and electronics.
• Liability protection. Personal liability protection helps cover legal fees and medical bills if you’re legally responsible for damage to someone else or their property. This includes things like your dog biting a stranger, the kids throwing a ball through the neighbor’s window, and a guest slipping down your icy driveway. 
• Living expenses. If you can’t live in your home while it’s being repaired after a covered event, loss of use coverage will pay for your living expenses elsewhere in the meantime. 

Each part of your policy has different exclusions and limitations to watch out for, so read your policy details closely to find out what is and isn’t covered—and how much you could expect to get back for a covered claim. 

Additional Minnesota insurance coverage options

Minnesota homeowners can customize their policies with insurance riders to get additional coverage for perils like:

• Fire. According to the Minnesota Department of Health, wildfires are becoming more common in the state due to climate change. Check your policy to ensure you have enough coverage for wildfire damage.
• Earthquake. Although earthquakes are rare in Minnesota, you can add an earthquake endorsement to your policy for extra protection. 
• Flood. Did you know Minnesota has more shoreline than California, Florida and Hawaii combined? Roughly 40% of Minnesota's flood claims in the past 30 years have come from areas not designated as high-risk. So, even if you don’t live near water, buying this coverage may still be worth it.

🔍 Did you know? 

The Minnesota Department of Commerce recommends reviewing your wind and hail limits to ensure they're adequate to protect you from tornadoes and other damage. Home insurance typically covers these perils, but policy limitations may leave you underinsured. 

What coverage is recommended in Minnesota?

It's generally recommended that Minnesotans have enough home insurance to fully rebuild their home if there’s a total loss. Besides this, consider these insurance coverage options:

• Flood insurance. While traditional home insurance policies won’t cover flooding, you can add flood protection through the National Flood Insurance Program, a nationwide program run by the Federal Emergency Management Agency. You can check your flood risk on RiskFactor.com or FEMA’s flood map. 
• Replacement cost coverage for belongings. Many Minnesota home insurance policies cover the actual cash value of your belongings. But you can upgrade to replacement cost coverage, which pays to replace your items with similar, new ones without factoring in depreciation.
• Scheduled property coverage for belongings. If you own high-value items like tech, jewelry, and antiques, you may need to "schedule" them with extra coverage to ensure you can fully replace them if you file a claim.
• Equipment breakdown coverage. Equipment breakdown coverage helps reimburse you for the cost of repairing or replacing home systems and appliances that break down due to mechanical, electrical, or pressure systems failure. 
• Sewer and sump pump backup coverage. Minnesota home insurance policies typically don't cover water damage from backed-up drains or sump pump failures (like when the snow starts to melt). You need water backup coverage instead.

Insuring your home in Minnesota

You can follow these steps to insure your home in Minnesota: 

1. Choose your coverage limits. If you need help, explore our guide on deciding how much home insurance coverage you need. 
2. Select a provider. Take some time to shop around. (It takes 60 seconds to get a home insurance quote with Hippo.) Once you have a list of your favorite Minnesota home insurance companies, read customer reviews on the Better Business Bureau and double-check their AM Best rating, which ranks their financial ability to honor claims.  
3. Apply for a policy. You’ll need to provide basic information about your home, its safety features, and your mortgage status. You’ll also need personal information for you and anyone living in your house.

Suppose you can’t get insurance through a traditional provider, whether due to a high-risk home or a long history of claims, you may qualify for the Minnesota FAIR Plan. But remember that FAIR coverage is minimal, so it's best to try to secure more comprehensive coverage if you can. 

You can also learn more about home insurance through the Minnesota Commerce Department.

Is Minnesota homeowners insurance required by law?

Home insurance is not technically required in Minnesota, but it’s unlikely that you’ll be able to buy a home without a home insurance policy. This is because most mortgage lenders require proof of home insurance before approving a loan to ensure their investment is properly protected.

Still have questions?

Still wondering how home insurance in Minnesota works? These frequently asked questions may help.

Why is Minnesota home insurance so expensive?

Home insurance in Minnesota is expensive in part due to the state’s extreme weather. It’s quite common to experience bone-chilling winters that can cause frozen pipes to crack and roofs to cave from the weight of snow, as well as intense summer storms that bring on hail and lightning. Your personal factors, including your credit score, claims history, address, and home, also influence how much home insurance costs in Minnesota.

What happens if you don't have insurance in Minnesota?

If you don't have home insurance in Minnesota and experience a major loss, such as from a twister in June or a severe winter storm in January, you'll be responsible for covering all repair and replacement costs yourself. You won't have financial assistance to rebuild your home, replace your belongings, or cover temporary living expenses.

If you have a mortgage and fail to maintain home insurance, your lender will likely force-place insurance on your behalf, which is typically more expensive and usually covers only your physical house, not your belongings or liability. 

How much is the average homeowners insurance in Minneapolis, Minnesota?

Home insurance in the Minneapolis-St. Paul area costs $2,515 per year on average, according to Nerdwallet data. This is similar to the statewide and national averages. 

What is the flood risk in Minnesota?

Minnesota has a moderate to high flood risk, with flooding occurring due to heavy rains, snowmelt, and rising water levels in lakes and rivers. According to the Minnesota Department of Natural Resources, the state has experienced major flooding events in recent years that have damaged homes, businesses, and infrastructure. You can assess your flood risk by checking FEMA's flood maps. Consider purchasing flood insurance, especially if you live in a high-risk area.

Is Minnesota a renter-friendly state?

Minnesota is a renter-friendly state with laws that protect tenants' rights. However, renters should still purchase renters insurance to protect their belongings and liability — your landlord's insurance won't cover these. If you own a rental property in Minnesota, you may also want to look into landlord insurance.