Minneapolis Insurance Rates:

Minneapolis, MN home insurance is roughly $885 to $1,200, about $73-$100/month. Our in depth analysis reveals consumers can save upto $417 by getting multiple quotes

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Minneapolis Home Owner Insurance Quotes | Write a Review | Rates & Quotes Analysis
Farmers Insurance
Home Insurance Rate of $1160/4 months for $500000-$600000 Coverage
Policy Holder Home Details :

Home Value : $585,000

5 Beds, 5 Baths 5000 sqft Primary Residence Constructed In 1985 with Linoleum, Asphalt Shingles Roof, Piers Foundation, Stone Siding, Stucco Construction. Home Features Include Deadbolt Locks, Circuit Breaker Electricals and Security by Monitoring Company

About Policy Holder:

58 Years old Single Female who has a Full Time Job with household income of $75-$100,000 and has More than 3 Pets at home and is a Non-Smoker

Additional Details :
  • 0-25% through paying our mortgage

  • 650-699 Credit Score

  • Seniors staying at home

Home Insurance Rate of $660/7 months for $150000-$175000 Coverage
Policy Holder Home Details :

Home Value : $170,000

2 Beds, 2 Bath 1400 sqft Primary Residence Constructed In 1983 with Linoleum, Shingles Roof, Chainwall Foundation, Vinyl siding, Metal Frame Construction. Home Features Include Central Air Conditioning, Copper Water Pipes, Indoor Sprinklers, FuseBox Electricals and Security by HomeOnly

About Policy Holder:

70 Years old Married Male who is a Freelancer with household income of $100-$150,000 and has 2 Pets and is a Non-Smoker

Additional Details :
  • 50-75% Mortgage Paid off

  • 500-549 Credit Score

  • Seniors staying at home

  • Guests at home

Home Insurance Rate of $240/3 months for $100000-$125000 Coverage
Policy Holder Home Details :

Home Value : $125,000

2 Beds, 2 Bath 1150 sqft Rental Property Constructed In 1948 with Carpet over wood flooring, Composition Roof, Slab Foundation, Vinyl siding, Metal Frame Construction. Home Features Include Fire Extinguisher, FuseBox Electricals and Security by HomeOnly

About Policy Holder:

60 Years old Married Female who is Retired with household income of $25-50,000 and has 3 Pets and is a Non-Smoker

Additional Details :
  • 0-25% through paying our mortgage

  • 750-799 Credit Score

  • Seniors staying at home

Home Insurance Rate of $850/10 months for $125000-$150000 Coverage
Policy Holder Home Details :

Home Value : $130,000

2 Beds, 2 Bath 1250 sqft Seasonal Residence Constructed In 1966 with Linoleum, Asphalt Shingles Roof, Piers Foundation, Fiber-Cement Siding, Brick Frame. Home Features Include Deadbolt Locks, Swimming Pool, FuseBox Electricals and Security by HomeOnly

About Policy Holder:

64 Years old Married Female who is Retired and has 1 Pet and is a Smoker

Additional Details :
  • 50-75% Mortgage Paid off

  • 500-549 Credit Score

  • Seniors staying at home

  • Guests at home

Home Insurance Rate of $3060/7 months for $500,000-$600,000 Coverage
Policy Holder Home Details :

Home Value : $440,000

4 Beds, 4 Baths 2346 sqft Primary Residence Constructed In 1952 with Wood Flooring, Asphalt Shingles Roof, Slab Foundation, Brick siding, Metal Frame Construction. Home Features Include Fireplace, Indoor Sprinklers, Swimming Pool, Smoke Alarm, Circuit Breaker Electricals and Security by HomeOnly

About Policy Holder:

34 Years old Divorced Female who is a Freelancer with household income of $100-$150,000 and has 3 Pets and is a Smoker

Additional Details :
  • 75-100% Mortgage Paid off

  • 750-799 Credit Score

  • Seniors staying at home

Home Insurance Rate of $240/3 months for $380,000 Coverage
Tudor style house with large backyard, Three bedrooms, a new full bathroom, New windows throughout the house, New carpets (with hardwood floors), new hot water heater and freshly painted. Close to all major highways, yet nestled in a quiet hilltop upper middle class neighborhood
Recent move to the house. Young family both people working in finance. Credit in the high 700's.
Home Insurance Rate of $87/1 month for $250,000 Coverage
I am not exactly sure of our house replacement value but I am presuming that its about 60% of our home value which is about $200,000.
We have occassional guests , mainly my in laws who visit us over the summer. But, they are careful & delibrate so there is less risk from them.

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Minneapolis Rates & Quotes Analysis:

Minneapolis Area Estimated House Insurance
Edmund Blvd S, Oak St SE, Taft St NE, St Anthony Ln, Malcolm Ave SE, 12th St S, Van Buren St NE, 14th Ave SE, California St NE, NE Hollywood Ave$1,123
Osseo Rd, William Berry Pkwy, Lourdes Pl, Fairmount Ave SE, S Upton Ave, Beacon St SE, N 3rd St, Sibley St NE, Dorman Ave S, 16th Ave SE$1,109
E 17th St, NE Hayes St, 4th St S, 27th Ave SE, Orlin Ave SE, E River Pkwy, Butler Pl S, List Pl, E 23rd St, Cumberland Rd$1,076
Colfax Ln S, Harmon Pl, 23rd Ave SE, 25th Ave SE, 3rd Ave NE, Hillside Ave N, Roseway Rd, Industrial Blvd NE, NE Ulysses St, NE Pierce Pl$1,033
NE Stinson Pwky, 15th Ave SE, 12th Ave NE, S 2nd St, 1st Ave NE, Franklin Ave SE, N 6th St, 3rd Ave NE, 10th St N, NE McKinley St$1,039

Insurance rates are influenced by a number of factors including:

  • Year Built: 87,416 Homes (48% of total homes ) built between 1939 or earlier in Minneapolis are paying home insurance between $2,232-$2,247. Places close to Minneapolis, MN such as Golden Valley, St. Louis Park, Falcon Heights are more expensive by $62, $28, $76 respectively while Lauderdale and Robbinsdale are cheaper by $32 and $45 respectively for similar homes.
  • Bedrooms: 55,015 2 bedrooms homes (32% of total homes ) in Minneapolis are paying about $678 compared to Golden Valley (+$19), St. Louis Park (+$9), Falcon Heights (+$23), Lauderdale (-$9) and Robbinsdale (-$13).
  • Auto Insurance Bundling: 35,895 Households (43% of all households) in Minneapolis have 2 vehicles available and when it is bundled with home insurance you can save $208. Discounts for similar bundling in close by locations such as Lauderdale, Golden Valley, St. Louis Park come to $205, $214, $211 respectively.
  • Senior Discounts: 31,507 seniors (more than 55 years) occupied housing units (37% of total) in Minneapolis get discounts between $156 to $158 and differs from Lauderdale ($154), Golden Valley ($160), St. Louis Park ($158).
  • New Homes discounts: New homes such as the 36,775 homes built between 2000 to 2009 in Minneapolis can save $208 and similar new home insurance discounts in nearby towns and cities like Lauderdale, Golden Valley and St. Louis Park are $205, $214 and $211 respectively.

Minneapolis Homeowners insurance Facts

  • Minneapolis, MN has 83,163 owner occupied houses which is 50.0% of all units whereas Lauderdale, Golden Valley and St. Louis Park have 47.4%, 76.88% and 58.88% respectively.
  • Minneapolis, MN homeowners yearly insurance price at $1,043 is 0.48% of the typical house value of $216,800 which is in contrast with 0.53% in Lauderdale, 0.4% at Golden Valley & 0.44% in St. Louis Park.
  • Homeowners in Minneapolis, MN pay 1.39% of their income ($75,000 or more) in insurance whereas homeowners in Lauderdale, Golden Valley and St. Louis Park pay 1.37%, 1.43% and 1.41% respectively.
  • Minneapolis, MN’s insurance is 5.1% of monthly housing costs of $1,691/month, for owners with a mortgage compared to 6.08% in Lauderdale, 4.73% at Golden Valley & 4.86% in St. Louis Park. But, for households without a mortgage, insurance is 15.2% of costs ($572 in Minneapolis, MN) in contrast with 19.67% in Lauderdale, 13.74% at Golden Valley & 16.73% in St. Louis Park.

Minneapolis, MN Home Values & Insurance rates

For example, insurance for 9,867 Homes (13.0% of total homes ) valued between $250,000 to $299,999 in Minneapolis, MN is about $1,324. Rates in nearby areas in such as Golden Valley, St. Louis Park, Falcon Heights are cheaper by $231, $110, $257 respectively while Lauderdale and Robbinsdale are costlier by $147 and $220 respectively for similar homes.

Minneapolis, MN Home By Value Total Homes % of Total Average Homeowners Insurance
Less than $50,000 1,782 2.0% $114
$60,000 to $69,999 737 1.0% $302
$70,000 to $79,999 791 1.0% $354
$80,000 to $89,999 1,340 1.0% $406
$90,000 to $99,999 1,364 1.0% $448
$100,000 to $124,999 5,552 7.0% $521
$125,000 to $149,999 5,829 8.0% $657
$150,000 to $174,999 9,657 13.0% $771
$175,000 to $199,999 8,521 11.0% $896
$200,000 to $249,999 16,065 22.0% $1084
$250,000 to $299,999 9,867 13.0% $1324
$300,000 to $399,999 9,832 13.0% $1679

Renters Insurance in Minneapolis

  • Average Renters Insurance in Minneapolis :  $111($9/month)

  • Median Gross Rent in Minneapolis :  $817

  • Minneapolis Renters Insurance to Median Rent Ratio:  1.1%

  • Average household size of renter-occupied unit :  2.1

Minneapolis Renters Insurance as a Percentage of Rent

Minneapolis Home By Monthly Rent Total Homes % of Total Estimated Monthly Income To Afford Rented House Including Renters Insurance
Less than $200 2,910 3.0% $327
$200 to $299 5,536 6.0% $777
$300 to $499 5,128 6.0% $1227
$500 to $749 20,373 25.0% $1902
$750 to $999 20,070 24.0% $2652
$1,000 to $1,499 19,731 24.0% $3777
$1,500 or more 7,534 9.0% $5427

Protective device discount in Minneapolis Up to :  $16

Claims-free discount in Minneapolis Up to :  $22

Minneapolis, MN Home Insurance by Zip Code

Zip Code Median Home Value Median Homeowners Insurance
55419 $315,300 $1,110
55405 $307,600 $1,120
55414 $261,800 $1,090
55403 $259,900 $1,090
55401 $250,500 $1,080
55409 $243,500 $1,070
55415 $240,200 $1,070
55449 $240,200 $1,070
55408 $239,300 $1,060
55417 $228,900 $1,060
55413 $212,300 $1,060
55404 $198,900 $1,050
55418 $198,200 $1,050
55406 $197,500 $1,040
55407 $188,600 $1,030
55454 $180,100 $1,040
55411 $132,400 $1,000
55412 $130,800 $1,000