Call our licensed agents toll free 844.855.0163
Why you should trust Insurance.com
Insurance.com is dedicated to informing, educating, and empowering you to make confident insurance decisions. Our content is carefully reviewed by insurance experts, and we rely on a data-driven approach to create unbiased, accurate insurance recommendations. Insurance.com maintains editorial integrity through strict independence from insurance companies.

Condo insurance isn’t required by law in Minnesota, but your mortgage company likely requires it. Condo insurance is a home insurance policy that covers everything inside your condo, while the homeowners association’s insurance covers the outside of your building and common areas.

Depending on your HOA’s rules, your condo insurance may cover not only personal property, but also provides dwelling coverage known as building property coverage, for the interior of the structure. Make sure you know how much condo insurance you need before you buy condo insurance.

To find the best condo insurance in Minnesota, we’ve gathered data on the top companies. Below you’ll find a list of the best condo insurance companies in Minnesota with average annual rates.

Key takeaways

  • The residents of Minnesota pay an average of $384 per year for condo insurance for a coverage level of $60,000 for personal property, $300,000 for liability protection with a $1,000 deductible.
  • Based on the analysis by Insurance.com, State Farm is the top pick for the best condo insurance company in Minnesota.
  • Automobile Club MI (AAA) offers the cheapest condo insurance in Minnesota at an average of $255 per year.

Best condo insurance companies in Minnesota

In Minnesota, you have a lot of options when it comes to finding the best condo insurance company. To make your task easier, our insurance experts have analyzed premiums, coverage offerings, J.D Power score and customer satisfaction ratings of major insurers in Minnesota. Below are the best condo insurance companies in Minnesota based on Insurance.com’s analysis.

CompanyJ.D. Power ScoreAM Best RatingAverage rating (out of 5)
State Farm829A++
4.4
Automobile Club MI (AAA)817A+
4.1
Allstate815A+
3.9
Country Financial830A+
3.8
American Family842A
3.2
Farmers792A
2.1

Average cost of condo insurance in Minnesota

The average cost of condo insurance in Minnesota is $384 a year or $32 a month with $1,000 as deductible, $60,000 in personal property coverage, and liability coverage of $300,000. Your average annual premium will vary depending on your location, the coverage limits you select, and the deductible amount among other factors.

To find the most affordable policy for your situation, compare quotes from multiple providers based on the coverage you need.

Average Annual PremiumAverage Monthly Premium
$384$32

CONDO INSURANCE CALCULATOR

Average condo insurance rates in MINNESOTA

$60,000
$1,000
$100,000
55107 - St. Paul
Personal Property Coverage $60,000, Deductible $1,000 and Liability $100,000.

AVERAGE RATE: $482

HIGHEST RATE: $1,340 LOWEST RATE: $228

Most & least expensive zip codes for condo insurance in Minnesota

Most Expensive

Zip CodeCityHighest Rate
55404Minneapolis$501
55401Minneapolis$501
55403Minneapolis$501
55402Minneapolis$501

Least Expensive

Zip CodeCityLowest Rate
56325Elrosa$405
56316Brooten$405
56529Dilworth$406
56520Breckenridge$406

Condo insurance rates by company in Minnesota

Rates for condo insurance by company in Minnesota vary. It’s important to shop around and compare quotes to find the best price. 

In the table given below, you’ll see condo insurance rates for major companies in Minnesota. The cheapest company for condo insurance in Minnesota is Automobile Club MI (AAA). Secura Insurance, and North Star Mutual, are the second and third cheapest options.

CompanyAverage Annual Rate
Automobile Club MI (AAA)$255
Secura Insurance$259
North Star Mutual$296
Allstate$310
Western National Mutual$327
State Farm$343
Auto-Owners$379
Country Financial$454
Farmers$584
American Family$636

Insurance.com compared condo insurance rates provided by Quadrant Data Solutions in 2022 for $60,000 of personal property coverage with a $1,000 deductible and $300,000 of liability coverage for all available ZIP codes and with a good credit score. The content was updated in 2023.

Tip icon You might also be interested in
See How Much You Can Save
See How Much You Can Save
Please enter valid zip
Want to bundle home and auto insurance for potential discounts?

You may also like to explore