For Minnesota homeowners looking for the best home insurance providers, we have provided five top picks that meet the following criteria: reasonably priced, customer-focused, and financially stable, and comprehensive coverage.
Based on those factors, our top recommendation for homeowners insurance in Minnesota is Auto-Owners Insurance. Our assessment of the other top choices will help you determine the best provider for your specific needs.
The 5 Best Homeowners Insurance Companies in Minnesota
|Auto-Owners||AAA||North Star Mutual||State Farm||Country Financial|
|Our review||Our review|
|A.M. Best Financial Strength Rating||A++||A+||A+||A++||A+|
|J.D. Power Overall Customer Satisfaction Score (Relevant region)||826/1000||807/1000||NA||831/1000||814/1000|
|Online Quote Tool||X||X||X||✓||X|
|Compare rates||Compare rates||Compare rates||Compare rates||Compare rates|
Average Cost of Homeowners Insurance in Minnesota
The average cost of homeowner insurance in Minnesota is $2,121 — considerably higher than the national average of $1,211. However, your rates may not reflect these averages as premiums are based on multiple variables.
These factors include the size and age of your home, your own credit worthiness, and your location all play a role in determining what you will pay for a homeowner insurance policy.
Home Insurance add-ons that will further protect you-
Due to inclement weather — especially in winter — and other factors, these are a few of the additional coverage or amendment options popular for Minnesota homeowners:
- Flood insurance
- Storm damage (wind, hail, and rain)
- ALE (Alternative Living Expenses: covers you in the event you are displaced from your home due to damage or repairs)
- Identity theft protection
Helpful Resources for Minnesota Homeowners
For new or existing Minnesota homeowners researching insurance further, we recommend the following resources:
- Minnesota Insurance Department website: general knowledge
- Minnesota Commerce Department: tips on clean energy
- Minnesota Commerce Department: disaster information center
- Minnesota Commerce Department: file a complaint
- 2020 Best Homeowners Insurance
- National Association of Insurance Commissioners: A Consumer’s Guide to Home Insurance
We used the methodology that we developed for our Best Homeowners Insurance Companies review to find the best homeowner insurance providers in Minnesota.
We looked first at financial strength, as measured by organizations such as AM Best and Standard & Poors, which indicates a company’s ability to pay out on claims in the event of disasters.
Customer Service & Support
We also evaluated customer service, checking rankings on Consumer Reports and J.D. Power. Each company’s website was also explored to see how easy it is to manage your account digitally.
And of course we looked at the average premiums, although your costs will likely differ based on individual factors.
Best Minnesota Homeowners Insurance Companies
- High financial stability
- Excellent customer service
- Extensive add-ons and discounts
- Mediocre website functionality
Auto-Owners made the top of our list for overall value to the customer. For its customer service, Auto-Owners scored an 89 out of 100 from Consumer Reports and 826 out of 1,000 from J.D. Power — both of which put it within the top few insurers overall.
It also has the highest rating possible from A.M. Best for financial strength, and offers an extensive lists of discounts.
- Good discounts if AAA member
- 50+ discount
- Features avary depending on region
A household name in insurance, AAA provides many appealing discounts that merit a top ranking in our list. Being a member typically opens the door to even more discounts, although you will need to connect with your local AAA agents to confirm as its policies may differ from state-to-state.
North Star Mutual
- Extensive endorsements
- A+ rating from BBB
- Limited online functionality
North Star Mutual wins for having the most feet-on-the-ground experience in Minnesota. With over 100 years (it was founded in 1920) of experience with Minnesota weather and the challenges it brings, North Star Mutual is uniquely equipped to provide homeowners comprehensive coverage.
- Financially solid
- Robust website
- Detailed online quote
- Limited discounts
With more than 25% of the market share, State Farm writes more policies in Minnesota than any other company. State Farm makes our list of top providers because of its resource-rich website and thorough quote process.
- Three tiers of service
- Four levels of replacement coverage
- Good customer service
- Limited web functionality
Another regional company, Country Financial provides a unique, customizable, tiered level of coverage to Minnesota homeowners. Additionally, they make our list of top providers because of the replacement cost coverage options available, which can dramatically affect the payout in the event of a claim.
The Cheapest Homeowner Insurance Companies In Minnesota
|Homeowner Insurance Companies||Average Annual Premium|
|North Star Mut Ins Co||$1,649|
|American Family Insurance||$2,000|
Homeowner Insurance by Age of Home
|Credit Rating Tier||Average Annual Premium|
|Average Across Tiers||$2,121|
Quadrant home insurance rate data as of 12/01/2019.
These rates are a sample set meant only for general comparison. Your own premium will vary.
Top 3 Cheapest Homeowner Insurance Companies in Minnesota
• Auto-Owners Insurance – $1,018
• AAA – $1,314
• North Star Mutual – $1,649
Top 3 Most Expensive Homeowner Insurance Companies in Minnesota
• Encompass – $2,549
• American Family – $2,000
• Chubb – $1,988
All our top five choices presented quotes for less than the Minnesota average of $2,121. Our cheapest quote came from Auto-Owners Insurance, while the higher end averages were found with Chubb.
We recommend that you ask for a quote from all companies you are considering to get an accurate estimate of your specific premium because your own circumstances are unique, and each company has its own methodology for determining costs.
Homeowners Insurance FAQ
Is homeowners insurance required in Minnesota?
Homeowners insurance isn’t required by law in Minnesota, but if you have a mortgage, you will most likely be required by your mortgage company or bank to carry a policy for as long as the mortgage is in effect.
What is the cheapest homeowners insurance in Minnesota?
Based on our data, the providers with the cheapest average premiums are Auto-Owners, AAA, and American family. Keep in mind, your rate will likely differ based on a variety of factors specific to you.