The Best Cheap Renters Insurance in Minnesota (2024)
State Farm has the best cheap renters insurance in Minnesota at $11 per month for $30,000 of personal property coverage.
Compare Cheap Renters Insurance Options in Minnesota
Best Cheap Renters Insurance in MN
ValuePenguin editors compared top renters insurance companies by cost, coverage options, customer service and unique offerings to find the best renters insurance in MN. Our experts gathered 160 quotes from seven top renters insurance companies across 25 of the largest cities in Minnesota.
Cheapest renters insurance in MN
State Farm has the cheapest renters insurance in Minnesota at $11 per month for $30,000 of coverage to replace the things you own, called personal property coverage. That's nearly half the cost of the Minnesota state average of $20 per month.
Progressive has the next cheapest rates at $16 per month for $30,000 of coverage. In addition, Progressive offers many discounts for Minnesota renters.
Compare Cheap Renters Insurance Options in Minnesota
At $20 per month, renters insurance in Minnesota is slightly cheaper than the national average of $23 per month for $30,000 of personal property coverage. Rates in Minnesota are similar to those in nearby states, such as Iowa, Wisconsin and South Dakota.
Top renters insurance companies in Minnesota
Company | Monthly cost | ||
|---|---|---|---|
| State Farm | $11 | |
| Progressive | $16 | |
| Farmers | $20 | |
| American Family | $23 | |
| Amica | $23 | |
Best renters insurance in Minnesota for most people: State Farm
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Editor's rating
- Cost: $11/mo
State Farm has the best combination of cheap rates and good customer service among Minnesota renters insurance companies.
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Affordable rates
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Good customer service
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Many coverage extras
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Strong renter-auto bundling discount
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Few discounts
State Farm has the cheapest renters insurance in Minnesota at $11 per month for $30,000 of personal property coverage. That's 46% cheaper than the state average of $20 per month.
You can lower your rate even more if you have a State Farm auto policy. State Farm has the best auto-renter's bundling discount among major insurance companies.
Unfortunately, State Farm only offers one other discount.
Still, State Farm's cheap rates come with a good customer service reputation. Customers rated the company "above average" for overall satisfaction on the most recent J.D. Power renters insurance survey. State Farm also gets an average amount of complaints compared to a company its size.
State Farm lets you personalize your renters policy with eight different coverage add-ons.
- Pet insurance
- Earthquake insurance
- Valuable items
- Water backup
Best MN renters insurance for discounts and coverage extras: Progressive
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Editor's rating
- Cost: $16/mo
Progressive offers Minnesota renters many discounts and coverage add-ons.
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Many coverage extras and discounts
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Cheap rates
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Weak customer service
Progressive lets renters save on their monthly rate with many discount options. These include discounts for:
- Bundling your renters and auto policies
- Getting a quote at least three days before your policy starts
- Paying your entire policy in full upfront
- Signing up to get your documents and notices online
- Living in a gated complex or community
You only have to pay toward one deductible if you bundle your renters and auto insurance. That means your renters policy will pay out right away for a covered loss if you've already paid off your annual car insurance deductible.
Progressive also lets you add to your renters policy with many coverage extras. For example, you can get coverage for floods and identity theft. Progressive also lets you increase your liability limits with umbrella coverage.
Progressive has the second cheapest renters insurance in Minnesota, at an average of $16 per month for $30,000 of personal property coverage. That's 20% below the MN state average.
Unfortunately, Progressive has a poor reputation for customer service and satisfaction. Progressive gets 43% more complaints than average for a company its size. The company also ranked last on the most recent J.D. Power survey for renters insurance customer satisfaction.
Best renters insurance in Minnesota for customer service: Amica
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Editor's rating
- Cost: $23/mo
Amica has a strong reputation for customer satisfaction.
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Strong customer service
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Discounts and coverage add-ons available
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Above average rates
Amica gets one-third as many complaints as an average company its size. In addition, the company also ranked first in a recent J.D. Power survey for property claims satisfaction.
Amica lets you modify your renters policy with several coverage add-ons. For example, Amica sells flood insurance for renters and identity theft protection. You can also buy extra coverage to protect the appliances you own, such as a portable air conditioner or heating unit.
Amica doesn't have the most affordable renters insurance in MN. The company charges an average of $23 per month for $30,000 of personal property coverage. That's 15% more expensive than the Minnesota state average.
The good news is that, in addition, Amica does offer several ways for Minnesota renters to save. You can take advantage of the company's bundling discount if you already have an auto policy through Amica. It also has a discount for people who pay for their policy upfront in full.
Although Amica doesn't have the most affordable renters insurance in MN, you should still consider it if you prioritize good customer service over getting the cheapest price.
Average renters insurance costs in major Minnesota cities
Minneapolis has the most expensive renters plans at $22 per month, on average, for $30,000 of personal property coverage.
Rochester, a city in Southern Minnesota, has the cheapest rates at $17 per month, on average. Where you live has an impact on how much you pay for insurance. Factors like crime rates, the frequency of some natural disasters and the cost of labor and materials can all influence how much you pay for renters insurance.
City | Monthly rate | % from average |
|---|---|---|
| Apple Valley | $20 | 0% |
| Blaine | $19 | -2% |
| Bloomington | $22 | 10% |
| Brooklyn Park | $21 | 7% |
| Burnsville | $20 | -1% |
Tips for saving money on your Minnesota renters insurance
Compare quotes and take advantage of discounts to save on your Minnesota renters policy.
Switching from the most expensive renters insurance in MN, Assurant, to the most affordable, State Farm, would save you $181 per year. Plus, you don't have to sacrifice coverage or service.
For example, Assurant gets nearly 15 times as many complaints as an average company its size. In contrast, State Farm gets an average amount of complaints for a company its size . State Farm also ranks well on customer satisfaction, according to a recent J.D. Power survey.
Common Minnesota renters insurance discounts
When comparing renters insurance quotes, always make sure to factor in discounts that might be available to you. Most renters insurance companies offer multiple discount options that you can use to lower your monthly rate. Some of these include:
- Renters-auto bundling
- Automatic payments
- Pay in full
- Claims free
- Home protection device
- Renewal/loyalty
What renters insurance do I need in MN?
A standard renters plan will protect Minnesota residents from tornadoes, wind, snow and ice, the most common severe weather conditions or natural disasters that occur in the state. However, you'll need a separate policy to protect against flood damage.
Flood insurance for Minnesota renters
A standard Minnesota renters insurance plan will not pay for flood damage.
You may need to buy a separate flood insurance policy if you live in a ground floor or basement unit in a high-risk area.
Fortunately, flood insurance for renters is typically inexpensive. You may even qualify for a multi-line discount if you buy your flood and renters insurance from the same company.
Minnesota renters coverage for tornados and storms
Minnesota averages 46 tornadoes per year.
Your Minnesota renters insurance will typically cover tornado and storm damage. Keep in mind that renters insurance doesn't pay for damage to the structure of the building you live in. That's your landlord's responsibility. It only covers your property that's inside or stored outside of your rental home.
For example, your renters policy might pay to replace spoiled food in your refrigerator if you've lost electricity due to a downed power line. Your renters policy could also pay to replace the things you own, such as your couch, clothes and laptop should a tornado destroy your apartment or rented home.
Do Minnesota renters policies cover blizzards?
Yes, Minnesota renters insurance covers damage caused by blizzards, snow and ice.
For example, your renters policy will cover property damaged by a collapsed roof or broken window. Your renters insurance personal liability coverage will also protect you if someone slips and falls on your rented home's icy driveway.
Minnesota is the ninth snowiest state in the U.S. The North Star state gets 36 inches of snow a year in its southwest region to more than 70 inches up north along Lake Superior. It also averages about two blizzards per year.
Frequently asked questions
What is the best cheapest renters insurance in Minnesota?
has the cheapest renters insurance in Minnesota at an average of $11 per month for $30,000 of personal property coverage. State Farm also has a strong customer service reputation, many coverage add-ons and a good renters-auto bundling discount.
Who has the best renters insurance in Minneapolis?
State Farm has the best cheap renters insurance in Minneapolis at $13 per month for $30,000 of personal property insurance, which helps cover the cost of replacing the things you own. Progressive has the second cheapest rates at $17 per month.
Do you need renters insurance in MN?
There's no law that requires that you have renters insurance in Minnesota. However, many landlords can and will make having renters coverage a non-negotiable part of the lease agreement.
Methodology
ValuePenguin collected hundreds of quotes from Minnesota's 25 most populated cities for an unmarried 30-year-old woman who has never filed a renters insurance claim. The following coverage limits were used:
- $30,000 of personal property coverage
- $9,000 for loss of use
- $500 deductible
- $100,000 of personal liability
- $1,000 of medical payments to guests
Customer service ratings were created using renters insurance quotes, complaint data from the National Association of Insurance Commissioners (NAIC) and J.D. Power's 2023 renters insurance customer satisfaction survey.
These rates are only for comparative purposes. Your quotes will differ.
Information related to common natural disasters in Minnesota came from St. Cloud University and the Minnesota Department of Natural Resources.
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.