Best renters insurance companies in Minnesota

When choosing the best renters insurance company in Minnesota, make sure you’re comparing on more than just price. We’ve compared quotes, coverage options and J.D. Power scores from all the major insurers in Minnesota. Below is our list of best renters insurance companies in Minnesota based on that analysis, with our score out of five. Note that USAA only offers coverage to military families.

CompanyAverage rating(out of 5)
State Farm4.5
American Family4
Allstate3.5
Automobile Club MI (AAA)3.5
Farmers3

Compare the best renters insurance companies in Minnesota

Comparing quotes from multiple insurance carriers is one way to ensure 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. Ensure you buy from a company offering affordable renters insurance and consistent customer service.

To simplify your task, we have compared the carriers for Minnesota residents based on their average rates and ratings from J.D. Power. Among the carriers surveyed, State Farm is the best renters insurance company in Minnesota. It earned 844 out of 1000 from J.D. Power and has an average renters insurance rate of $146.

The table below offers a detailed comparison of renters insurance companies in Minnesota.

CompanyJ.D. Power ScoreAverage Annual PremiumAM Best Ratings
State Farm844$146A++
American Family856$204A
Allstate835$174A+
Automobile Club MI (AAA)812$116A
Farmers842$244A

How much is renters insurance in Minnesota

Minnesota residents pay an average of $200 a year for renters insurance, and the average monthly cost is $17. That’s for a policy with personal property coverage of $40,000, liability coverage of $100,000, and a deductible of $1,000.

What you pay for renters insurance will not be the same as a neighbor’s price because it depends on factors specific to each person: the property you want to insure, extra coverage options you add, and the deductible amount you choose.

“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 PremiumAverage Monthly Premium
$200$17

Most expensive ZIP codes in Minnesota for renters insurance

Several 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 55417, where the average annual rate is $224 which is $24 more than the state average insurance premium.

The following table lists the most expensive ZIP codes in Minnesota for renters insurance.

ZIP codeAverage Annual Rate
55417$224
55455$223
55447$222
55107$220
55126$218
55111$217
55427$213
55374$212
55796$211
55108$210

Least expensive ZIP codes in Minnesota for renters insurance

Renters insurance rates in Minnesota are cheaper in some areas. Based on a rate analysis by Insurance.com, the least expensive ZIP code for renters insurance in Minnesota is 56325, and its average annual rate is $185.

Below, you’ll find the least expensive ZIP codes for renters insurance, along with their average annual rates.

ZIP codeAverage Annual Rate
56325$185
56352$186
56312$187
56520$188
56089$189
56215$190
56010$191
55390$192
55943$193
55971$194

Compare renters insurance rates by city in Minnesota

Renters insurance rates vary significantly across cities, influenced by various factors, including weather patterns, crime rates, and property values. You must consider these factors and compare quotes from different insurers to get the best deal on renters insurance for your specific city in Minnesota.

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

Cheap renters insurance in Minnesota by company

There are a lot of companies offering renters insurance in Minnesota. Among the carriers surveyed by Insurance.com, Automobile Club MI (AAA) is the cheapest renters insurance company in Minnesota; its average annual premium is $116.

Renters insurance prices can vary drastically between companies. That’s why it is important to compare rates and see which company offers the best deal to get coverage at an affordable price.

Below are the best cheap renters insurance companies in Minnesota and their average annual premiums.

Company NameAverage Annual Premium
Automobile Club MI (AAA)$116
Secura Insurance$124
State Farm$146
Auto-Owners$164
Allstate$174
American Family$204
North Star Mutual$218
Farmers$244
Country Financial$291
Western National Mutual$315

Insurance.com compared renters insurance rates in 2022 provided by Quadrant Data Solutions 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. Content was updated in 2023.

Tip icon You might also be interested in