Best Homeowners Insurance in Minnesota | 2022 – MarketWatch

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From the peaceful prairies to the bustling Twin Cities, Minnesota residents can benefit tremendously from a home insurance policy. These plans satisfy mortgage lenders’ requirements and can protect your home from damage or destruction and shield you from liability.
We at the Home Media reviews team have rated the top homeowners insurance companies in the country, scoring them on their coverage, cost, discounts and customer reviews. Read on for a quick comparison of the best home insurance providers in the Land of 10,000 Lakes.
After in-depth research, the Home Media reviews team found the following to be Minnesota’s best homeowners insurance providers:
According to the Insurance Information Institute (III), the average cost of homeowners insurance in Minnesota in 2019 was $1,433, higher than the national average of $1,272. 
Homeowners insurance rates vary based on your location, square footage and other factors. To get your personalized quote, use our free tool below.
Scoring higher than any other provider across our review standards, Allstate is also positively rated by third parties, with an A+ financial rating from AM Best and an A rating for customer experience from the Better Business Bureau (BBB).
It also has the strongest J.D. Power score for customer satisfaction of any provider in this review, with around-the-clock access to a massive network of local agents, phone support and online claims assistance.
Founded in 1931, Allstate is one of the country’s biggest insurers, featuring life, auto, home, rental and other insurance plans.
Allstate is our top overall recommendation for Minnesota residents, offering extensive coverage options such as yard and garden protection, valuable discounts such as a welcome and loyalty discount and helpful online tools.
You can use the Allstate website to learn the basics of home insurance, take inventory of your belongings and learn about common causes of claims in your area.
​​+ Offers an extensive list of endorsements that allow you to tailor your home insurance coverage to your needs
​​+ Provides additional coverage for roof repairs, which some providers limit
​​+ Features the Claim Rateguard endorsement, which locks in rates even if you have to file a claim
Limits customization of coverage amounts
Isn’t the most cost-competitive provider in this review
Discounts: Allstate offers a multi-policy discount, claim-free discount, responsible payment discount, welcome and loyalty discount, Easy Pay Plan discount, protective device discount, recent home buyer discount and an early signing discount.
Endorsements: Allstate offers a range of endorsements, which include identity theft restoration, green improvement restoration, water backup, home-sharing, manufactured/mobile home, yard and garden, business property, scheduled personal property, musical instrument, sports equipment, electronic data recovery, flood insurance and personal umbrella insurance.
Get your personalized home insurance quote from Allstate.
To learn more: Allstate home insurance review
 
While Liberty Mutual has a lower J.D. Power score than other providers in this review, its A+ rating from the BBB and A rating from A.M. Best suggest it is likely to pay claims as promised and is committed to creating a solid customer experience.
Liberty Mutual offers a comprehensive suite of insurance products, with home, pet, umbrella, life and auto insurance. It’s our top choice for Minnesota homeowners looking to save with discounts.
For example, Liberty Mutual reduces your rates if you insure at least 100% of your home’s value or buy a policy before your current one expires.
Liberty Mutual’s website is straightforward and helpful, but our secret-shopping process revealed that its quote process can be complicated. Fortunately, the company provides live online assistance if you’re having difficulty completing your quote.
​​+ Features live chat and the ability to connect with an agent by phone during the quote process
​​+ Offers a 10% discount when you buy your policy online
​​+ Provides inflation protection, which factors inflation rates into your cost and coverage amounts
Earned a subpar J.D. Power score for customer satisfaction
Has a more complex quoting process than most providers in this review
Discounts: Liberty Mutual has the following discounts: claims-free, safe homeowner, early shopper, newly purchased home, new/renovated home, new roof, insured to value, multi-policy, preferred payment and paperless discounts.
Endorsements: Liberty Mutual provides additional coverage for hurricanes, total replacement cost, water backup and overflow, fine jewelry and inflation protection.
Get your personalized home insurance quote from Liberty Mutual.
 
American Family (AmFam) entered the insurance marketplace in the 1920s, adding home insurance to its suite of products in 1958.
With A-level ratings from the BBB, AM Best and the J.D. Power survey, the company has secured a reputation as a dependable provider committed to customer service.
AmFam offers a range of helpful endorsements to customize your coverage. It also features unique discounts, such as its generational discount, applied to policyholders 30 and younger whose parents also have an American Family policy.
AmFam’s most significant standout feature is its array of digital resources, which help to simplify the comparison process. For example, it offers quick, straightforward quotes and does not require you to enter your Social Security number, which many providers do. The website also provides a comprehensive table comparing all of its coverages and endorsements.
​​+ Covers equipment breakdown with an endorsement for home systems and appliances, which competitors in this review exclude from coverage
​​+ Provides the most detailed coverage comparison resource of all the competitors in this review
​​+ Has a more straightforward and less invasive quoting process than most providers
Given a mediocre customer satisfaction score in the J.D. Power survey for overall customer satisfaction
Does not allow you to purchase a policy online without contacting an agent
Discounts: AmFam offers the following discounts: multi-policy discount, smart-home security discount, insurance payment discount, loyalty discount, age of home discount, renovated home discount and a generational discount. 
Endorsements: AmFam provides a list of additional coverages, including equipment breakdown, sump pump and water backup, matching siding, credit monitoring, identity theft, diminishing deductible and hidden water damage. 
Get your personalized home insurance quote from American Family.
To learn more: American Family home insurance review
 
Founded in 1864, Travelers is the oldest insurer in this review. Travelers is regarded as a financially stable carrier with an A++ from AM Best and an A from the BBB with a generally positive customer experience.
Like Allstate, Travelers grants policyholders access to 24/7 customer support through its claims center and has local agents across the state.
We recommend Travelers home insurance for its customizable deductibles. You can pick from nine deductible options, choosing to pay as little as $1,000 or as much as $50,000. This variety allows customers to cut premium costs by paying more out-of-pocket when they have to file a claim.
Travelers also stands out for its Decreasing Deductible endorsements, which lowers your deductible by $100 when you renew your policy, even if you filed a claim in the previous year.
​​+ Is the oldest insurer in this review, with more than a century of experience
​​+ Does not require you to enter your Social Security number or phone number for a quote, which many providers do
​​+ Allows you to file claims 24/7, while some providers close their claims centers on the weekends
Scored a below-average customer satisfaction rating in the most recent J.D. Power survey
Has fewer discounts than providers such as Allstate
Discounts: Travelers offers a multi-policy, first-time home buyer discount for first-time homebuyers and individuals who buy newly constructed homes, loss-free, protective device and green home discount.
Endorsements: Travelers provides endorsements for special personal property, additional replacement cost protection, sump pump discharge or overflow, water backup, jewelry and valuable items, identity fraud, green home and valuable personal articles.
Get your personalized home insurance quote from Travelers.
To learn more: Travelers insurance review
 
Another company with an extensive history in the insurance industry, Farmers opened its doors in 1928. Since then, it has built a solid reputation, with an A BBB rating and an A- from AM Best. It is also featured in the J.D. Power survey, outranking some other providers in this review.
Our customer review analysis and secret-shopping process revealed Farmers has the most customizable coverage of the companies we rated. For instance, instead of locking in a standard amount of dwelling coverage to replace your home, the company lets you tailor this and other coverage amounts to best meet your needs and budget.
Farmers also provides a seamless online experience, with basic information designed to help you compare its coverage and learn how you can save with discounts.
​​+ Provides more flexible dwelling, loss of use and personal property coverage amounts than other companies in this review
​​+ Offers up to $2 million of liability protection, which may be a wise purchase for high-income homeowners
​​+ Features a unique discount for non-smokers, which none of its competitors rated in this review do
Scored lower than the industry average in the J.D. Power customer satisfaction survey, leaving room for improvement
Often has higher rates than other providers in this review
Discounts: Farmers offers the following discounts: multiline, home safety, declining deductible, affinity, e-Policy, UL-approved roofing materials, new home, non-smoker, protective device, green certification, rent to own, claims-free, preferred payment/EFT and good payer discount for timely payments.
Endorsements: Farmers provides endorsements for eco-friendly home rebuilds, mobile and manufactured homes, flood, earthquakes, replacement cost coverage and identity theft protection.
Get your personalized home insurance quote from Farmers.
To learn more: Farmers home insurance review
 
Homeowners insurance rates are ultimately based on how risky your home is to insure.
Underwriters, the individuals who assess risk and determine your rates, will consider the following factors:
 
Minnesota enjoys beautiful weather, but the elements can sometimes cause costly home insurance claims. 
Specifically, Minnesota residents often have to deal with the perils below: 
Standard homeowners insurance policies typically cover damage arising from wind and uncontrolled water damage from snow and ice and hailstorms. However, it does not usually cover flooding. If you live in a flood-prone area, a stand-alone policy could be a good idea.
 
We recommend Allstate to homeowners in Minnesota due to its affordable coverage, straightforward quotes and quick claims. 
However, each provider in this review presents unique advantages. They are highly reviewed for their customer service, cost and coverage. To ensure you choose the right company for your home insurance needs, we recommend comparing quotes from at least three providers.
Get insurance quotes from insurers by entering your ZIP code here or calling 855-948-5219.
According to data from the III, the average annual cost of homeowners insurance in Minnesota is $1,433 per year. This is higher than the national average cost of homeowners insurance, $1,272.
If you live in a high-risk flood zone in Minnesota, flood insurance is required for a federally-backed mortgage. You can visit FEMA’s flood map service center to learn more. You can purchase flood insurance from the National Flood Insurance Program or a private insurer.
Minnesota home insurance costs more than the national average because Minnesota faces a higher risk of weather-related risks than some states. Hail, windstorms and snow, common in Minnesota, can cause costly home damage.
Homeowners insurance is not based on a home’s property value or your mortgage but on the cost of replacing the home. According to Zillow’s home value index, the average property value of a Michigan home is $317,303. This figure accounts for the home itself and the land it’s on, while replacement cost is based solely on the home’s structure.
Our team surveyed dozens of home insurance providers and created a scoring system to judge each company’s quality and service. We reach out for sample quotes, both over the phone and on the internet, to simulate an authentic customer experience. Here are the factors that account for our provider reviews:
Companies with the best customer service exhibit 24/7 availability, educational resources on their website, useful digital tools and a seamless claims-filing process. We compare data from each company’s Better Business Bureau page, customer reviews, registered complaints, and years of experience to score reputation.
Additionally, we dig into specific quotes and policy details to determine the value that each company offers in coverage, cost and additional benefits. Providers that offer extensive discount options, endorsements, customizable coverage options and unique features score significantly higher than those that don’t, putting them toward the top of our recommendations to readers.
Ratings listed in this article are accurate as of April 2022.
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