It is important to get homeowners insurance when moving to Minnesota. The insurance covers your home, your possessions and any damage that may occur. Most mortgage lenders require you to have this policy.
You should get quotes from at least 3 companies and compare their prices, coverages and customer service. This will help you to determine the best insurance policy for your specific needs.
The average cost of home insurance in MN
The cost of Minnesota homeowners insurance is determined by many factors, such as your age, how much coverage you require, and where you live. If you're in a flood-prone area, for example, you may need more coverage than someone in a dry, arid region.
You'll also want to take into account your location, crime rates and other risks that could affect your home. You may want to consider investing in higher liability coverage if you reside in a Minneapolis neighborhood that has a high rate of crime.
How to purchase a home owner's insurance policy in MN
Minnesota home insurance policies cover your building, personal property, and loss of use. Comparing quotes will help you find the best coverage for your needs.
A good idea is to review your policy every year as your needs and lifestyle can change. This will help you determine whether you're paying for enough insurance and if it's still the right coverage for your home.
Best Home Insurance Companies MN
Minnesota is home to many local, national and regional companies. If you read reviews of Minnesota's top carriers on websites such as the Better Business Bureau, or look for insurers with an AM Best rating, you can easily find the list.
Allstate
Allstate's website is among the best in the entire state. And its mobile application makes it simple to manage your insurance policy and make payments. 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. The company offers many different policies, ranging from the basic ones for condo and renter owners to those more complex for older or historic houses.
Farmers
Farmers, another well-known Minnesota home insurance provider, offers many discounts that can help you save. Its website contains basic information for comparing its policies. You can also learn about the discounts that are available based on your needs.
HO-6 (walls-in)
A HO-6 policy is a great option for condo owners, small home or mobile home owners. 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.