Homeowners Insurance in Minnesota

The average Minnesota homeowners premium is $1,988 a year (NAIC) — ▲ +14% versus the U.S. average of $1,737, ranking 11th of 51.

These are estimates, not quotes. Home figures are modeled from NAIC state averages, Census home values and FEMA hazard ratings for comparison only. Real premiums depend on the insurer, the home, its roof and claims history. We are not an insurance company or agency. How we estimate

Average homeowners and renters insurance in Minnesota

Homeowners (HO-3)

$1,988

NAIC average / year

Renters (HO-4)

$137

U.S. $173

Median home value

$329,300

Census ACS

FEMA expected loss rating

Relatively Moderate

all natural hazards

NAIC averages cover standard owner-occupied (HO-3) policies. Premiums scale with the cost to rebuild, so Minnesota's median home value of $329,300 and its exposure to wind, hail and wildfire explain much of the difference from other states.

Natural hazard risk in Minnesota

FEMA National Risk Index — expected annual loss by hazard (state level)
Hazard	Expected loss rating	Score	Expected annual loss
Hail	Relatively Moderate	88.7	$128,147,343
Tornado	Relatively High	77.4	$347,994,974
Hurricane	Very Low	6.5	$1,119
Inland (river) flooding	Relatively Moderate	75.0	$1,275,138,729
Coastal flooding	Very Low	5.4	$8,678
Wildfire	Relatively Low	51.0	$12,408,125
Earthquake	Very Low	3.6	$1,343,966
Winter weather	Very High	85.7	$19,714,651
Strong wind	Very High	92.5	$154,241,797
Lightning	Relatively Moderate	50.0	$25,408,869

Standard homeowners policies exclude flood and earthquake; both need separate coverage. Wind and hurricane damage is covered but often with a separate percentage deductible in coastal states.

Home Insurance Estimator

Estimated annual premium

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Per month

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Estimated homeowners insurance by city

For a home at each city's median value, standard frame construction and a $1,000 deductible. The lowest estimate is in Duluth ($1,450) and the highest in Plymouth ($2,860).

City	Median home value	Median year built	Hail / wind	Est. premium
Minneapolis	$362,200	1951	Very High / Very High	$2,245
St. Paul	$294,500	1952	Relatively High / Relatively High	$1,795
Rochester	$310,500	1989	Relatively Moderate / Relatively Moderate	$1,610
Bloomington	$361,700	1972	Very High / Very High	$2,240
Duluth	$242,700	1951	Relatively Moderate / Relatively Moderate	$1,450
Brooklyn Park	$336,200	1980	Very High / Very High	$2,115
Woodbury	$450,200	1997	Relatively High / Very High	$2,485
Plymouth	$491,200	1988	Very High / Very High	$2,860

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Frequently asked questions

How much is homeowners insurance in Minnesota?

NAIC data puts the average Minnesota homeowners (HO-3) premium at $1,988 a year, ranking 11th of 51 (1 = most expensive). The national average is $1,737.

How much is renters insurance in Minnesota?

The NAIC average renters (HO-4) premium in Minnesota is $137 a year.

What natural hazards affect home insurance in Minnesota?

FEMA's National Risk Index rates Minnesota relatively high or very high for expected annual losses from tornado, winter weather, and strong wind. Standard homeowners policies exclude flood and earthquake, which need separate coverage.

Does homeowners insurance cover floods in Minnesota?

No. Standard homeowners policies exclude flood damage. Flood coverage is sold separately through the National Flood Insurance Program (NFIP) or private insurers.

How we estimate this

We start from the NAIC average homeowners (HO-3) premium for the state, scale it by the ratio of the home value to the state median home value (Census ACS), adjust for construction type and deductible, and apply a hazard factor from FEMA National Risk Index scores for the county relative to the state. Results are rounded estimates, not quotes. Read the full methodology.

Sources used on this page