It is important to get homeowners insurance when moving to Minnesota. Home insurance protects you and your possessions from damage and theft. Most lenders require that their customers have home insurance as part of their mortgage.
Comparing quotes is important. Make sure you get at least three quotes and carefully compare the price, customer service and coverage. This will help you to determine the best insurance policy for your specific needs.
Average Home Insurance Cost in MN
Your age, the coverage amount you need, and your home's location are all factors that will determine the cost of your Minnesota homeowners policy. If you're in a flood-prone area, for example, you may need more coverage than someone in a dry, arid region.
Take into consideration your location as well as crime rates and any other factors that may impact your home. If you live in Minneapolis and you are in a neighborhood with a high crime rate, you will want to purchase supplemental liability insurance.
How to Purchase a Homeowners' Insurance Policy in MN
Minnesota home insurance will cover the structure of your house, as well as any personal belongings and any 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.
You should also review your insurance coverage annually, since your lifestyle and home may change. This will allow you to determine whether or not you're paying too much for insurance and if your coverage is still appropriate for your house.
Best Home Insurance Companies MN
Minnesota is home to many local, national and regional companies. You can find a list of the top-rated carriers in Minnesota by reading their reviews on consumer websites like the Better Business Bureau or by looking for the insurers that have earned an AM Best rating.
Allstate
Allstate's online experience is one of the best in the state, and its mobile app makes it easy to manage your policy and payments. The company offers a range of add-ons to help reduce costs and give you peace of mind.
Liberty Mutual
Liberty Mutual is among the most affordable Minnesota homeowners insurance providers, with an annual rate of $1,046 compared to the state average of $1,773. Liberty Mutual has many policies to choose from, including simple policies for renters, condo owners and older 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.