Minneapolis, MN Home Insurance - Analysis On Quotes, Rates & Agents

Minneapolis, MN Insurance Rates:

vHome Insurance undertook a detailed analysis of the cost of insurance in different cities of the country. This analysis helped in narrowing down the list of the top home insurance providers in Minneapolis, MN. The average cost of insurance in Minneapolis, MN is $1260. The following analysis stresses the importance of comparing multiple quotes. Enter your Zip Code in the banner below to get instant home insurance quotes.

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Average Home Insurance Premium in Minneapolis, MN

National Average Premium State Average Premium Minneapolis Average Premium
$1,438 $1,192 $1,260

Top Home Insurance Companies in Minneapolis, MN | Back to Top

The following is a list of home insurance companies that provide the best home insurance quotes in Minneapolis, MN.

Company Name Coverage $70,000 Coverage $150,000 Coverage $200,000 Coverage $350,000
Western National $1,152 $1,382 $1,797 $2,479
Travelers $1,692 $2,030 $2,639 $3,642
Aaa $1,626 $1,952 $2,537 $3,501
North Star $1,475 $1,770 $2,301 $3,176

Minneapolis, MN Homeowners Insurance for Different Coverages | Back to Top

Coverage Type Home Insurance Cost($)
$100,000 To $124,999 608.71
$150,000 To $174,999 802.79
$175,000 To $199,999 974.03
$200,000 To $249,999 1,106.2
$250,000 To $299,999 1,714.78
$300,000 To $399,999 2,240.21
$400,000 To $499,999 2,869.7
$500,000 To $749,999 3,673.22
$750,000 To $999,999 4,247.16
$1000,000 To $1499,999 4,677.62
$1500,000 To $2000,000 5,021.98

Visual Guide for Minneapolis, MN Home Insurance Buyers on Insurance Companies and Rates

Top Home Insurance Agents Near Minneapolis, MN | Back to Top

Home Insurance Company Near Minneapolis, MN Homeowners Insurance Agency Near Minneapolis, MN Address
Liberty Mutual Independent Lake Country Insurance Services Llc 1001 Twelve Oaks Center Dr Ste 1007 Wayzata, Minnetonka, MN, 55391
Travelers North Suburban Agencies Inc 11421 Hanson Boulevard Northwest Coon Rapids, Coon Rapids, MN, 55433
Travelers P&H Ins Agency Inc 11800 SINGLETREE LN STE 120, EDEN PRAIRIE, MN, 55344

List of Minneapolis, MN Home Insurance Agents by Companies

Minneapolis, MN Homeowners Insurance Rates Based on Claims Filed | Back to Top

A discount of $163.8 on the home insurance premium is offered to Minneapolis, MN homeowners who have no previous history of claims filed, Minneapolis, MN homeowners with one claim have to file an additional home insurance rate of $76, while Minneapolis, MN homeowners with 2 claims have to pay $151 more for their home insurance premium.

Type of Claim Homeowners Insurance Cost Increase/Decrease($) Homeowners Insurance Cost($)
No Claim Discount -164 1,096
One Claim +76 1,336
Two Claim +151 1,411

Minneapolis, MN Homeowners Insurance by Zip Code | Back to Top

Zip Code Median Home Value($) Home Insurance Cost($)
55419 315,300 1,191
55405 307,600 1,191
55414 261,800 1,276
55403 259,900 1,184
55401 250,500 1,210
55409 243,500 1,275
55415 240,200 1,197
55449 240,200 1,275
55408 239,300 1,276
55417 228,900 1,275
55413 212,300 1,172
55404 198,900 1,222
55418 198,200 1,197
55406 197,500 1,275
55407 188,600 1,184
55454 180,100 1,191
55411 132,400 1,278
55412 130,800 1,197

Factors Affecting Home Insurance Premiums in Minneapolis, MN

Minneapolis, MN homeowners pay an average home insurance premium of $1260. Homeowners in Minneapolis, MN can lower their home insurance premiums by considering various factors. vHomeInsurance lists the factors that could help homeowners reduce their home insurance premiums.

Minneapolis, MN Home Insurance Premium Based on the Number of Bedrooms | Back to Top

Bedroom Size Average Homeowners Insurance Cost($)
2 Bedroom 554
3 Bedroom 1,524
4 Bedroom 1,593
5 Bedroom 3,116

Minneapolis, MN Home Insurance Premiums for Different Deductibles | Back to Top

Minneapolis, MN Homeowners with a deductible of $500 pay a higher amount for home insurance, while Minneapolis, MN homeowners who pay a deductible of $2500 pay a lower amount on their home insurance, as seen in the table below.

Deductible Type Average Homeowners Insurance Cost($)
$500 Deductible 1,245
$1000 Deductible 1,126
$1500 Deductible 1,060
$2000 Deductible 962
$2500 Deductible 905

Minneapolis, MN Homeowners Insurance Premium Based on the Age of the Home | Back to Top

Homeowners in Minneapolis, MN pay a much lower home insurance rate if their homes are newly constructed. Homeowners with homes that are older than 50 years pay a much higher rate on their home insurance premium as seen in the table below.

Home Age Homeowners Insurance Cost($)
Newly Constructed Home 932
Year 30 Old 1,279
Year 40 Old 1,293
Year 50 Old 1,308
Above Year 50 1,320

Minneapolis, MN Homeowners Insurance Cost Based on the Construction Type of the Home | Back to Top

Construction Type Home Insurance Cost Savings($) Home Insurance Cost($)
Fire Resistive 126 1,134
Masonry 63 1,197
Brick 63 1,197
Superior 113 1,147
Hail Resistant Roof 25 1,235

Top Saving Tips on Minneapolis, MN Homeowners Insurance | Back to Top

Minneapolis, MN Homeowners can earn discounts on homeowners insurance based on the construction type of their home. Homes that are built using damage-resistant materials are considered a safe bet for home insurance companies. Minneapolis, MN Homeowners can also choose to bundle their home and auto insurance policies to further reduce their home insurance premium. Apart from this, senior citizens also receive substantial discounts from home insurance companies. Homes equipped with home security devices are less prone to burglaries. As a result, Minneapolis, MN homeowners receive attractive discounts from home insurance companies.

The tables below contain the complete list of discounts that Minneapolis, MN homeowners can take advantage of to increase their savings.

Minneapolis, MN Auto & Homeowners Insurance Bundling Discounts and Senior Citizen Discounts

Discount Type Home Insurance Cost Savings($) Home Insurance Cost($)
Bundle Discount 202 1,058
Retiree Discount (Senior Citizen Discount) 176 1,436
Newly Constructed Home 328 932

Minneapolis, MN Home Insurance Discounts for Home Safety Devices | Back to Top

Home Safety Devices Home Insurance Cost Savings($) Home Insurance Cost($)
Deadbolts 101 1,159
Fire Extinguishers 88 1,172
Smoke Detectors 176 1,084
Sprinkler System 126 1,134
Fire Alarm 88 1,172
Burglar Alarm 113 1,147
Lightning Protection 25 1,235

Latest Home Insurance Reviews

Country Financial
Yes, I would recommend Country Financial for one's home needs. They are affordable, comprehensive and all around excellent customer service.
State Farm
I would highly recommend State Farm to all of my family and friends. I have had a great experience with them that spans 10 years.the process was very easy and they took care of everything.
American Family Insurance
I believe my policy offerings are very similar to that of other companies. I do not believe that there is anything outstanding or extraordinary about what American Family is offering me
I am overall satisfied with this company and its customer service is very satisfactory. The only issue is that when contacting their line it often takes a long while to get in touch with someone to speak to.
the customer service and the coverage is much more affordable for the same amount as their competitors offer. Anybody who wants to get the most out of their money should check out Progressive.
I recommend Allstate because of the quality of their customer service as well as the quality of the service that they offer. I have had insurance with them my whole life and I wouldn't dream of going with another compant.
State Farm
I'd recommend my company to anyone. The few times I have filed a claim everything has run smooth and I always get what I expected. No surprises.
Farm Bureau
I really like that the agents are so kind and friendly. they are doing a great job with working with everyone.
State Farm
we have had a decent experience with them. We haven't had too many occasions to use customer service,we have been helped quickly and efficiently with now complaints.
Liberty Mutual
I rate it as 5 stars such that it is more comfortable and the services provided by them was really amazing and enough good to over grow through the path in the schemes of benefits.
Farmer's Insurance
Their customer service has always answered my questions, wait times are a little long though.
Liberty Mutual
This is great customer service via online, in-person or via telephone. This is due to this company's responsiveness with any questions posed via phone or in-person appointments.
Farmer's Insurance
The premium and deductible of Farmer's Insurance is very reasonable and affordable. That was one of the biggest things for me and my family and one of the reasons why we chose them.
State Farm
Our dealings with customer service were during the sign up period. The people were easy to deal with any communicated quickly with our mortgage company. Very pleased
Liberty Mutual
We reviewed other insurance agencies, and Liberty Mutual had a better offer overall for premium and deductible. We were satisfied with this offer, so we went with them.
Liberty Mutual
We have a personal relationship with our local insurance salesman and claim agent, which feels reassuring. it's pleasanter to say "call tony" than "call the insurance".
My home insurance company rate doesn't change from year to year, even with the discount aspect. even though it is cheaper than others. i have comparison shopped around for, i think it's not discounted enough for being bundled with my car insurance. i think the price could be better, honestly.
When i need to view or adjust my coverage, i can easily access my information online or over the phone. they have always done their job quickly and efficiently.
State Farm
I like that I can see my policy and contact my agent to make changes or file a claim via the website. The application is quite useful and it is not necessary to make a trip to the office in most cases.
Farm Bureau
I do not have any problems with my insurance company's customer service department. I don't care for the agent that took over for my original agent, but the insurance company itself is not the problem.
Very convenient pay system, always timely answering the phone, nice people work there. 4 rating
Farmer's Insurance
The app takes a lot of time to load, the payment always when I use my app. But the website is okay. It shows some quality.
I like the fact that it is a cooperative (member owned), and the fact that it is local and I can talk to someone in my state instead of a representative in a faraway location.
Farm Bureau
The communication regarding the problem we had was not good. Even when they had the opportunity to explain the problem, they did not. Finally someone mentioned it.
I appreciate that the company isn't calling me all the time trying to sell me new products. I like to be treated like a person, not just a customer and I feel that they do that well.
American Family
I have not had any negative experiences with the company thus far. My wife had worked with them previously and has been very happy with their services.
Farm Bureau
There's not much to say about what I don't like. I guess the premiums could always be lower, but everyone could say the same I guess.
Farmer's Insurance
There is nothing that I dislike about the company if there was I would be shopping around to find another company. I don't stay with a company I have problems with.
I like that they don't have a lot of major requirements to cover you. Theu are not as strict on conditions of the property.
Farm Bureau
I would recommend this company for home insurance compared to other policies, efficient and fast responses at the time of an accident, the premiums are more affordable prices and the response service in the momonto of a claim is faster.
Black Ridge Bank
I would recommend them to others. I like that they are local, and also that their premiums and deductibles are fairly priced
State Farm
I wouldn't recommend the agent. She has been dishonest. But I have never had problems with the insurance company themselves.
I would recommend this company because of the speed of service when I had a home flood, the fairness of their estimates, the equality of referrals for repair companies, a as well as the speed of payment.
I can make any changes on my coverage through the mobile app. I have to call the agency to make any changes
Universal Property & Casualty Insurance Company
at this time, we do not have anything that we dislike about Universal Property and Casualty insurance.
Fairmont Farmers Mutual
The policy premiums didn't cover identity theft like I thought it maybe should and the premiums rise every year. Not all prices rise over time!
My insurance companies premium and deductible of my poilicy is more expensive than other companies. Even though I bundle my coverages at this company for a small discount.