Minnesota Homeowners Insurance Calculator: Estimate Your Policy Cost

Minnesota ranks 36th of all states regarding affordability. While it’s not the most affordable state, its average annual premium of $2,417 is 20% cheaper than the national average of $2,894 annually.

Your unique premium depends on your coverage limits, credit score, location and other personal or financial factors. MoneyGeek’s Minnesota homeowners insurance calculator allows you to see the possible costs of your policy.

Advertising & Editorial DisclosureLast Updated: 12/7/2022
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Home Insurance Calculator



Dwelling Coverage






Personal Property


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These are annual estimates. Get a personalized quote to determine your costs.

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MoneyGeek collected and analyzed data from different insurance companies in Minnesota to find the most affordable homeowners insurance.

Based on our analysis, Chubb offers the cheapest homeowners insurance in Minnesota.

But there's more to homeowners insurance than costs. For those who don't prioritize affordability, MoneyGeek lists the best homeowners insurance in Minnesota.

Our research showed Country Financial is the best homeowners insurance company in Minnesota. Though it's not the cheapest option, it gives the best customer satisfaction without breaking the bank.

How to Estimate the Cost of Your Homeowners Insurance Policy in Minnesota

Homeowners insurance varies from household to household. Policy prices involve factors like dwelling coverage, deductible and credit score. As a result, insurance costs are different for every homeowner in Minnesota.

MoneyGeek’s homeowners insurance calculator evaluates these factors and estimates your premium. You can determine how each element affects the cost of your homeowners insurance in Minnesota by filling in the values based on your situation.

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    Much like real estate, homes in some places are more affordable to insure than others.

    Factors that could harm your property depend on the state you live in. For example, states have different fire regulations, making a household in one state more susceptible to fire damage than another.

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    Dwelling Coverage

    Dwelling coverage is for structural home repair expenses if a covered danger has damaged it. Dwelling coverage in Minnesota averages $250,000.

    Covered perils may include lightning, fire, theft, vandalism, etc.

    This coverage only applies to buildings attached to your house's primary structure. So, fences, outdoor pools, detached garages and the like are not included.

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    A deductible is how much you owe for claims. When deciding on the deductible, you need to consider your capability to pay for this specific amount.

    If your repair costs are $600 and your deductible is $500, your insurance pays $100 after you've spent $500 out of your pocket.

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    Liability coverage pays out if someone was hurt or suffered property damage on your property due to your negligence. It covers legal costs, replacement costs, medical expenses, pain and suffering and death benefits.

    Having coverage to cover the value of your assets is advisable. If you want to be extra safe, you can have a bigger coverage limit.

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    Personal Property

    Personal property coverage pays for your belongings in case of a covered loss, such as fire damage or theft.

    A personal property coverage limit of at least 50% of your dwelling coverage is advisable. You may want a larger limit, depending on the value of your possessions or how many things you own.

    MoneyGeek’s personal property calculator can help you determine how much coverage you need.

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    Credit Score

    Minnesota homeowners insurance companies can perform a credit check before approving your policy. So, the rate of your homeowners insurance policy is affected by your credit score.

    Having good credit gives the impression of responsibility. People with good credit are perceived as able to afford to maintain their homes.

    The opposite applies to people with bad credit.

    As a result, those with good credit pay lower premiums than those with bad credit.



Insurance Rates


Average Cost of Home Insurance in Minnesota

The average homeowners insurance premium in Minnesota is $2,417 per year. The state ranks 36th when it comes to affordable homeowners insurance based on dwelling coverage of $250,000.

For some homeowners, a $250,000 dwelling coverage could be too little. You can get a policy with a higher coverage limit for a higher price.

The table below compares the rates for homeowners insurance in Minnesota with various levels of coverage.

Average Annual Premium in Minnesota for Homeowners Insurance

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  • Dwelling Coverage Amount
    Average Annual Premium
  • $100,000
  • $250,000
  • $500,000
  • $750,000
  • $1,000,000
  • $2,000,000
  • $3,000,000
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Home reconstruction costs determine your dwelling coverage limit. Further, how you pay to reconstruct your home is based on its age, size, shape and other characteristics.

You can estimate the amount using public data, market research and company-specific algorithms. Home appraisers can also give you a separate estimate.

However, estimates aren't precise. In addition, prices can increase with time, so the assessment may no longer cover reconstruction. If this happens, extended replacement cost, guaranteed replacement cost and inflation guard coverage could take care of you.

Average Cost of Home Insurance in Minnesota Cities

Where you live affects the cost of homeowners insurance in Minnesota. The table below shows the premiums in various cities in Minnesota to demonstrate how rates vary.

Average Annual Premium in Minnesota Cities for Homeowners Insurance

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  • City
    Average Annual Premium ($100K Dwelling Coverage)
    Average Annual Premium ($250K Dwelling Coverage)
  • Minneapolis
  • St. Paul
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Based on MoneyGeek’s research, AllState is the best homeowners insurance company. AllState offers affordable rates, first-rate customer service and outstanding financial stability. This top-ranking company can be your best choice if cost isn't your only concern.

AllState provides standard homeowners insurance and additional coverages, helping you protect your hobbies and collections. AllState can also cover condos, rental properties, farms and other structures.

Frequently Asked Questions About Home Insurance in Minnesota

Cost and coverage limits are important considerations when buying insurance. So, consumers often have questions about them. MoneyGeek answers frequently asked questions about homeowners insurance in Minnesota to help you choose the best policy for your needs right here.


To determine the average cost of homeowners insurance in Minnesota, MoneyGeek sourced pricing data from Quadrant Information Services.

MoneyGeek chose a standard home profile to provide the most reliable and relevant data for developing a thorough analysis of homeowners insurance. This standard home profile consists of the following attributes:

  • Construction year: 2000
  • Construction type: Frame
  • Composition roof
  • Three-mile radius from the fire department
  • Assumed value of other structures on the property: 10% of the dwelling coverage
  • Personal property coverage: 40% of the dwelling coverage
  • Liability limit: $100,000
  • Deductible: $1,000

About the Author

Mark Fitzpatrick headshot

Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.