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Renters insurance is an affordable way to protect your rented home or apartment from theft and damage. People often find themselves in a dilemma when it comes to choosing the best renters insurance. 

To help you find the most affordable renters insurance company, we have prepared this guide for you. We have gathered quotes from major insurance providers across Minnesota and compared the renters insurance policies based on several rating factors.

Keep on reading this resource to get all the details you will need to choose the best renters insurance in Minnesota.

Best renters insurance companies in Minnesota

When it comes to choosing the best renters insurance company in Minnesota, you want to make sure that you are comparing apples to apples. Our experts at have compared quotes, coverage options and J.D Power score from all the major insurers in Minnesota. Below is the list of best renters insurance companies in Minnesota:

  • State Farm
  • American Family
  • Allstate
  • Farmers
  • Liberty Mutual

Compare best renters insurance companies in Minnesota

Comparing quotes from multiple insurance carriers is one of the ways to make sure you will get your money's worth. There can be big differences in price between different renters insurance providers, so it pays to shop around. Make sure you buy the insurance policy from a company that offers affordable renters insurance and provides consistent customer service.

To make your task easy, we have compared the insurance companies based on their average rates and ratings from J.D. Power. Among the carriers surveyed, State Farm is the best renters insurance companies in Minnesota on the basis of J.D Power score. It has earned 866 scores out of 1000 from J.D Power and its average annual rate for renters insurance is $211.

CompanyJ.D. Power scoreAverage annual rate
State Farm866$211
American Family838$197
Liberty Mutual823$903

How much is renters insurance in Minnesota

Minnesota residents pay an average of $494 a year for a standard renters insurance policy, and the average monthly cost is $41. That’s the state average cost for a policy with recommended coverage levels of personal property coverage of $40,000, liability coverage of $100,000, and a deductible of $1,000.

It's important to know that the renters insurance premium of your renters insurance policy will likely not be the same as a neighbor who lives near you. This is because it depends on factors specific for each person; property you want to insure, extra coverage options you add, and the deductible amount you choose.

Average annual premiumAverage monthly premium

10 Most expensive zip codes in Minnesota for renters insurance

A number of factors affect your renters insurance coverage cost in Minnesota including your location and the coverage you buy. The most expensive zip code in Minnesota for renters insurance is 55401, its average annual rate is $351.

The following table lists the 10 most expensive zip codes in Minnesota for renters insurance. The list is prepared by analyzing quotes from major insurance companies across all the zip codes.

ZIP codeAverage annual rate

10 Least expensive zip codes in Minnesota for renters insurance

Renters insurance rates in Minnesota vary based on coverage amount, the renter’s credit history, and where they live. Based on a rate analysis by, the least expensive zip code for renters insurance in Minnesota is 56529, and its average annual rate is $278.

Find below the list of ten least expensive zip codes for renters insurance along with their average annual rate.

ZIP codeAverage annual rate

Cheap renters insurance in Minnesota by carrier

When it comes to shopping for a renters insurance policy, there are a number of options available. Among the carriers surveyed by, Allstate is the cheapest renters insurance provider in Minnesota, and its average annual premium is $174.

When you're shopping for renters insurance, know that prices can vary drastically between companies. That's why it is important to compare rates and see which company offers the best deal in order to get coverage at an affordable price.

Below is a list of the cheap renters insurance companies in Minnesota and their average annual premium.

Company nameAverage annual premium
American Family$189
State Farm$203
Auto Owners$1,768