Renters insurance in Minnesota: Cost, best companies and how to save

What is the average cost of renters insurance in Minnesota?

The average renters insurance cost in Minnesota is $203 per year. Rates vary based on factors such as location, coverage amount, deductible, and claims history.

"The number one thing that's most important is to get good liability. A renter's policy will default to $100,000 liability," Josiah Hatch, an insurance pro with Bender Hatch Insurance in Boston, said. "It costs next to nothing to go from $100,000 to $500,000. I want to say it's probably 10 bucks a year. It's really cheap to get a lot of extra coverage. I always recommend getting the most liability you can because that's, at its core, what insurance is all about: the worst-case scenario."

Average annual premium	$203
Average monthly premium	$17

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Best renters insurance company in Minnesota: Secura Insurance

Among the carriers surveyed, Secura Insurance is the best renters insurance company in Minnesota, with a top score and an average renters insurance rate of $124.

Automobile Club MI (AAA) and Auto-Owners are the other best insurance companies for renters insurance in Minnesota.

Renters insurance rates vary significantly among providers, so you should compare options before choosing. You should also select a company with a good reputation to ensure it will be there if you have a claim.

To help you find the best renters insurance in Minnesota, we evaluated average rates, NAIC complaints ratio, and AM Best financial ratings. We calculated the total Insurance.com score out of five using these factors.

Here are the best renters insurance companies in Minnesota.

Company	Average annual premium	AM Best	NAIC	Insurance.com rating
Secura Insurance	$124	A	0.14	5
Automobile Club MI (AAA)	$116	A	0.29	4.72
Auto-Owners	$164	A++	0.33	4.59
American Family	$229	A	0.37	3.97
State Farm	$137	A++	0.95	3.81
Western National Mutual	$315	A	0.13	3.79
Country Financial	$309	A+	0.26	3.7
Farmers	$243	A	0.54	3.6
Allstate	$174	A+	0.9	3.57
North Star Mutual	$218	A+	0.72	3.56

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Cheapest renters insurance in Minnesota

Our analysis shows that Automobile Club MI (AAA) is the cheapest renters insurance company in Minnesota, with an average annual premium of $116.

Renters insurance rates can differ greatly between providers, so it's best to compare quotes to find affordable coverage that meets your needs.

Here is the list of the cheapest renters insurance companies in Minnesota along with their average annual premiums.

Company name	Average annual premium
Automobile Club MI (AAA)	$116
Secura Insurance	$124
State Farm	$137
Auto-Owners	$164
Allstate	$174
North Star Mutual	$218
American Family	$229
Farmers	$243
Country Financial	$309
Western National Mutual	$315

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Minnesota renters insurance: The least and most expensive ZIP codes

Where you live in Minnesota directly affects the cost of your renters insurance. The most expensive ZIP code in Minnesota is 55417, where the average annual premium is $228. This is $25 more than higher than the average rate.

In contrast, the least expensive ZIP code for renters insurance is 56325, offering coverage at $188 a year.

The table below shows the most and least expensive ZIP codes in Minnesota for renters insurance.

Best home insurance companies in Texas

Most expensive ZIP code
Least expensive ZIP code

ZIP code	Average annual rate
55417	$228
55455	$227
55447	$225
55130	$224
55111	$221
55427	$218
56316	$190
56352	$189

ZIP code	Average annual rate
56325	$188
56312	$190
56378	$191
55111	$221
55101	$224
55415	$225
55401	$227
55417	$228

Renters insurance cost in Minnesota by city

In Minnesota, renters insurance rates vary across cities due to factors such as weather risks, crime rates, and other factors. To get the best deal in your city, Compare quotes from several insurers before selecting a policy, so they weigh each factor differently.

City	Annual insurance premium
Blaine	$204
Bloomington	$209
Brooklyn Park	$212
Duluth	$205
Lakeville	$210
Minneapolis	$223
Rochester	$189
St. Paul	$220

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How to save on renters insurance in Minnesota

There are several easy ways to lower the cost of renters insurance in Minnesota without losing necessary coverage:

Bundle your policies. Many insurance companies offer a discount if you buy renters and auto insurance together.
Increase your deductible. Choosing a higher deductible will lower your monthly or yearly premium; just ensure you can afford it.
Ask about discounts. Most providers offer savings for things like smoke alarms, security systems, or being claims-free.
Compare quotes. Prices can vary widely between companies, so getting quotes from multiple insurers can help you find the best deal.
Pay annually. Some insurers offer a small discount if you pay once a year instead of monthly.

Methodology

Insurance.com compared renters insurance rates provided by Quadrant Information Services for $40,000 personal property coverage with a $1,000 deductible and $100,000 liability coverage for all available ZIP codes based on a renter with good credit. To rank the best insurance companies, we gathered AM Best financial stability ratings, where an A++ is the best possible score, and National Association of Insurance Commissioners (NAIC) complaint ratios, which compare the number of complaints a company receives to the anticipated complaint volume based on market share. These factors were used along with rates to find the best companies overall.

FAQ: Minnesota renters insurance

Do I need renters insurance in Minnesota?

You do not legally require renters insurance, but your landlord may require you to carry a policy as part of your lease agreement.

How much renters insurance do I need in Minnesota?

You don't need any renters insurance by law, but when buying a policy you should ensure you have enough personal property coverage to cover all of your personal property at replacement cost.