It is important to get homeowners insurance when moving to Minnesota. This protects both your home and belongings against damage or theft. Many lenders require homeowners to purchase a policy as part their mortgage.
Comparing quotes is important. Make sure you get at least three quotes and carefully compare the price, customer service and coverage. You will have a better understanding of what you need and how to get it.
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 live in a region that's prone to flooding, for instance, you may require more coverage than a person who lives in an arid, dry area.
It's important to also consider the location of your house, the crime rate and any other potential dangers. If you live near a Minneapolis high-crime area, for example, you may want to invest more in liability protection than the average.
How to Buy Homeowners Insurance in MN
Minnesota home policies will usually cover the building structure as well as your personal property. They also may cover loss of usage. Comparing quotes will help you find the best coverage for your needs.
You should also review your insurance coverage annually, since your lifestyle and home may 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 has many companies offering homeowners insurance. These include national, local and regional ones. Find out which companies are the best-rated in Minnesota by checking consumer reviews on sites like the Better Business Bureau. You can also look at the AM Best ratings of insurers.
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 Minnesota homeowners insurance is affordable, with rates of just $1,046 annually compared to $1,773 for the average rate in the state. It offers a wide range of policies, from basic policies for renters and condo owners to more complex ones for older homes or historic houses.
Farmers
Farmers is another Minnesota-based home insurance company offering a range of discounts. Its website has basic information you can use to compare the policies. You can learn more about discounts available for you based on what you need.
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 of insurance is sometimes called "walls in" and it can be an excellent option for homeowners who have historic or architecturally significant homes.