North Star Mutual offers the most affordable home insurance rates in Minnesota at $98 a month. Chubb is the next-cheapest option at $139 a month.
Most of the biggest homeowners insurance companies in Minnesota offer rates higher than the national average. This makes it important for you to see as many cost-versus-coverage comparisons as you can from different providers. We can help you find the best choice for a home insurance company.
In this article
What are Minnesota's cheapest home insurance companies?
North Star Mutual carries the cheapest average rate in Minnesota for home insurance at $98 a month. Chubb has the next most affordable rate of $139. American Family is the third-cheapest at $153 a month.
| Company | Monthly rate |
|---|---|
| North Star Mutual | $98 |
| Chubb | $139 |
| American Family | $153 |
| Travelers | $164 |
| Allstate | $174 |
| Farmers | $181 |
| State Farm | $190 |
| Country Mutual | $240 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
The average cost of home insurance in Minnesota
Minnesota residents pay an average of $167 a month for homeowners insurance. This is 13% higher than the national home insurance rate of $146 a month.
When calculating your quote for home insurance, providers consider many different factors, including:
- Your ZIP code
- The age and condition of the home
- Construction materials used
- Your personal claim insurance history
The difference in rates between home insurance companies, despite offering fairly similar coverage, comes down to the different risk weights they put on different factors. For example, one insurer may consider the age of a home a bigger risk than another. In order to find your best combo of price and policy offerings, compare policies from many different home insurance companies side by side.
Compare rates from the best home insurance companies
Also be aware that your deductible is going to have an effect on your home insurance rate. The higher the deductible limit you chose, the lower your annual premium will be.
The best home insurance companies in Minnesota
Based on our studies, we found North Star Mutual, Chubb and American Family are the top home insurance providers in Minnesota. Here's why:
North Star Mutual: Best local home insurance provider
Based in Minnesota, North Star offers both the cheapest rate in the state of $98 a month and great service if you want the close-to-home touch. Offering home insurance throughout the Midwest since the 1920s, North Star Mutual also carries AM Best's A+ "superior" rating, indicating excellent financial strength. If you're looking for a combination of affordable coverage and local service, North Star Mutual is an excellent choice.
Chubb: Best for high-value homes
Chubb has the second-cheapest rates for homeowners insurance in Minnesota at $139 a month. Furthermore, it is an excellent choice if you own a luxury home. Chubb's Masterpiece program is designed to provide affordable coverage for homes that could otherwise be cost-prohibitive to insure. The Masterpiece program includes:
- Extended replacement cost coverage that covers the full rebuild of your home, even if the bill is over your policy's dwelling coverage limit.
- A cash payout up to your policy limit instead of rebuilding if your house is damaged or destroyed.
- The option to use a contractor of your choice instead of one off of a preferred list.
American Family: Best discounts
Minnesota homeowners pay an average of $153 a month for home insurance with American Family. While it may not have the cheapest rates available, American Family has the best discount options of the top home insurers in the state that can save you even more. These include:
- Payment discount: Paying your premium by autopay can get you a discount.
- Renovated home discount: If you've updated the systems in your home in the past 15 years, you might be eligible for a discount.
- Bundle discount: Bundling your home insurance with an auto policy through American Family can save you up to 20% on your home insurance and up to 29% on your car insurance.
The cheapest home insurance in Minnesota by city and county
Of the biggest cities in Minnesota, Rochester has the most affordable home insurance rates with an average of $91 a month through North Star Mutual. Duluth has the second-cheapest rates of $97 a month with North Star Mutual.
| City | American Family | Chubb | North Star Mutual |
|---|---|---|---|
| Blaine | $158 | $141 | $113 |
| Bloomington | $176 | $135 | $113 |
| Brooklyn Park | $165 | $135 | $113 |
| Duluth | $150 | $154 | $97 |
| Lakeville | $173 | $137 | $113 |
| Minneapolis | $159 | $144 | $153 |
| Plymouth | $179 | $122 | $113 |
| Rochester | $154 | $103 | $91 |
| St. Paul | $164 | $142 | $155 |
| Woodbury | $170 | $135 | $113 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |||
In the most populous counties in Minnesota, Olmstead County and Stearns County share the cheapest average rate for home insurance at $91 a month with North Star Mutual. St. Louis County has the second-cheapest rate of $93 a month, again with North Star Mutual.
| County | American Family | Chubb | North Star Mutual |
|---|---|---|---|
| Anoka | $157 | $142 | $113 |
| Dakota | $169 | $135 | $113 |
| Hennepin | $170 | $137 | $129 |
| Olmsted | $154 | $103 | $91 |
| Ramsey | $167 | $139 | $135 |
| Scott | $174 | $145 | $113 |
| St. Louis | $148 | $154 | $93 |
| Stearns | $166 | $135 | $91 |
| Washington | $170 | $135 | $113 |
| Wright | $166 | $135 | $113 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |||
Methodology
We collected quotes from every ZIP code in Minnesota from the following home insurance companies:
- Allstate
- American Family
- Chubb
- Country Mutual
- Farmers
- North Star Mutual
- State Farm
- Travelers
Average rates for a standard HO-3 homeowners insurance policy we calculated using the following coverages:
- $275,000 dwelling (unless otherwise noted)
- $27,500 other structures
- $137,500 personal property
- $55,000 loss of use
- $100,000 liability
- $5,000 medical payments
- $1,000 deductible (unless otherwise noted)
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