It is important to get homeowners insurance when moving to Minnesota. It protects your house and your belongings in case of damage or theft, and most lenders require their customers to have a home insurance policy as part of their mortgage.
It's important to get a quote from at least three companies and compare them carefully for price, coverage and customer service. This will help you find the right policy to suit your needs.
How much does home insurance cost on average in Minnesota?
The cost of Minnesota homeowners insurance is determined by many factors, such as your age, how much coverage you require, and where you live. For instance, if your home is located in a flood-prone region, you will need more coverage.
It's important to also consider the location of your house, the crime rate and any other potential dangers. For instance, if you live in a high-crime neighborhood in Minneapolis, you'll want to invest in higher-than-average liability protection.
How to Buy Homeowners Insurance in MN
When you purchase a Minnesota home insurance policy, it will generally cover the building structure, your personal property and loss of use. Coverage can differ depending on the value and type of personal items you own, so compare quotes to determine what is best for you.
Reviewing your coverage each year is also a great idea, as your home's needs and your lifestyle can change over time. This will help determine if your insurance is adequate and whether it's the right coverage for you.
Best Home Insurance Companies MN
Minnesota homeowners are offered insurance by many different companies, both national and local. If you look on consumer review websites, such as Better Business Bureau and AM Best, or read their ratings from the Better Business Bureau website, you will find a list with the best Minnesota insurance carriers.
Allstate
Allstate is known for its excellent online service. You can easily manage payments and your policy with the mobile app. The company offers a range of add-ons to help reduce costs and give you peace of mind.
Liberty Mutual
Liberty Mutual Minnesota is the most affordable Minnesota homeowners insurer, offering a $1,046 annual rate compared with the $1,773 average for the state. It offers a wide range of policies, from basic policies for renters and condo owners to more complex ones for older homes or historic houses.
Farmers
Farmers, another well-known Minnesota home insurance provider, offers many discounts that can help you save. Its site offers information on its policies to help you compare them, as well as discounts for your particular needs.
HO-6 (walls-in)
Condo owners or those with small mobile homes or condos may find that a HO-6 policy will be the best option. This type coverage is often called "walls - in", and is an ideal option for home owners who are interested in architecturally or historically valuable homes.