State Farm and Chubb are the best cheap renters insurance companies in Minnesota. State Farm is the state's top company for affordable rates. Chubb offers the most extensive coverage options and has the highest claims satisfaction ratings.
Cheap Renters Insurance in Minnesota
Updated: November 26, 2025
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Key Takeaways
State Farm is Minnesota's cheapest renters insurance option, with rates starting at $188 per year. Chubb is the best overall company.
Renters insurance costs around $20 per month in Minnesota but prices range from $16 to $35.
To find the best and most affordable renters insurance, decide on your coverage needs first. Then, research costs and compare many quotes.
Best Cheap Renters Insurance Companies in Minnesota
| Chubb | 95 | $24 | $286 |
| State Farm | 94 | $16 | $188 |
| American Family | 89 | $30 | $354 |
| COUNTRY Financial | 82 | $35 | $426 |
| North Star | 80 | $22 | $260 |
*This list shows rates for a renter with good credit, no claims history, $50K in property damage coverage, $100K in liability coverage, a $1,000 deductible and guaranteed replacement.
Minnesota renters face extreme winter temperatures that can damage belongings, so use our renters insurance estimate calculator to ensure coverage handles frozen pipe incidents and heating failures.
Minnesota Renters Insurance Quote Estimates
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Rates updated:
Dec 09, 2025
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Compare Personalized Best Cheap Renters Insurance in Minnesota
While our list above covers most renters, it may not show your ideal options. We've made a filterable table that matches your profile to help you find the best options in Minnesota.
Data filtered by:
$50K Personal Property / $100K Liability
Select
Claim free for 5+ years
Yes
Good
| State Farm | 94 | $11 | $129 |
| Chubb | 93 | $14 | $168 |
| Auto-Owners | 90 | $14 | $167 |
| American Family | 80 | $20 | $241 |
| North Star | 73 | $16 | $197 |
Best Minnesota Renters Insurance Reviews
Below are details about our top picks for renters insurance in Minnesota, based on affordability, customer service and coverage options.
State Farm: Best Cheap Plans
pros
Lowest rates
High financial stability ratings
Most flexible coverage selections
cons
Fewer add-on coverage options than average
COMPANY HIGHLIGHTS
Minnesota's lowest-cost renters insurance comes from State Farm at an average monthly rate of $16. J.D. Power's recent study ranks the insurer fourth in customer service. Coverage flexibility comes through state personal property limits rather than set options.
Chubb: Best Coverage and Claims Satisfaction
pros
Competitive rates for lower coverage levels
Most comprehensive included coverage
Industry-leading claims satisfaction ratings
cons
Higher coverage levels cost more
COMPANY HIGHLIGHTS
Higher coverage levels cost more in Minnesota, but benefits include identity theft protection and a property manager service monitoring your home to help prevent damage. Chubb holds the nation's highest property claims satisfaction rating.
Average Cost of Renters Insurance in Minnesota
Renters insurance in Minnesota costs an average of $236 per year, $6 lower than the national average of $242. These rates assume $50,000 in personal property coverage, $100,000 in liability limits and a $1,000 deductible. Your specific profile affects your actual rate.
Filter key factors in the table to see average costs tailored to your situation:
Data filtered by:
$50K Personal Property / $100K Liability
Select
Claim free for 5+ years
Good
Covered
| $50K Personal Property / $100K Liability | $20 | $236 |
Average Minnesota Renters Insurance Cost by City
Renters insurance costs vary widely by city. The average annual premium in Minneapolis is $219; in Rochester, it's $176 for a policy with $50K in personal property coverage and $100K in liability coverage. Check the table below for the average cost in your city.
| Minneapolis | $219 |
| Rochester | $176 |
| St. Paul | $213 |
*This table shows rates for a renter with good credit and no claims history. Policies include $50K property damage coverage, $100K liability coverage, a $1,000 deductible and guaranteed replacement.
Minnesota Renters Insurance: Buyer's Guide
Finding affordable, quality renters insurance in Minnesota can be tough. To simplify your search, here's a guide to help you choose the right coverage for your needs.
How to Find the Best Cheap Renters Insurance in Minnesota
Follow these steps to find the best and cheapest renters insurance:
- 1Determine the right coverage level
Before buying renters insurance, know how much coverage you need for your belongings and their value. Consider weather, crime and pets that might affect your insurance needs.
- 2Research costs and discounts
With a clear coverage level, research average costs for your situation. Look for discounts that could lower your premium.
- 3Compare providers
Check providers' reputations, costs and coverage options to narrow your choices. Do this research before requesting quotes.
- 4Consider bundling
If you have auto insurance, see if bundling with renters insurance could save money. These discounts often cover the cost of renters insurance.
- 5Get multiple quotes through different channels
Request at least five quotes with identical coverage terms. Use comparison sites, provider websites or talk to agents to find the best rate.
- 6Compare rates annually
Insurance rates change often. Compare your current rate yearly to make sure it stays competitive.
How Much Renters Insurance Do I Need in Minnesota?
Minnesota law doesn't mandate renters insurance, but most landlords require at least $100K in liability coverage. Requirements may vary based on your rental history, credit score and pet ownership. When choosing a policy, consider the value of your belongings, local weather risks, neighborhood crime rates and pet ownership.
Use our calculator below to determine your ideal personal property limits so you know how much renters insurance you need.
Personal Property Coverage Calculator
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
clothing & accessories
Clothes, shoes, bags, belts, hats, gloves, etc.
Minnesota Renter Risk Considerations
Minnesota renters encounter these common risks and coverage solutions:
- Weather risks: Certain areas encounter high tornado risk. Standard coverage won't protect you in high-risk zones without additional coverage.
- Crime risks: The state ranks 19th for property crime and 41st for identity theft and fraud nationwide. Extra coverage on your renters policy strengthens protection against property damage.
- Pet ownership: Pet owners need pet liability coverage. Verify whether your provider's standard policy includes pet protection or requires an add-on.
- Property types: Standard policies won't fully cover specialized items like tools, electronics or rental property structures like pools. Insurers with specific add-ons protect these belongings.
How Does Renters Insurance Coverage Work?
Renters insurance covers damage to your property, liability to others and loss of use connected to your rental home. Extra coverages make your policy more comprehensive. Common types of renters insurance coverage include:
Coverage Type | Standard or Add-on | Coverage Details |
|---|---|---|
Standard | Damaged or stolen personal items in your rental up to your policy limit. You receive actual cash value (depreciated value) unless you carry replacement cost coverage, which pays for new items. | |
Standard | Medical expenses and legal costs when someone gets injured in your rental. Many landlords require tenants to carry this coverage. | |
Additional living expenses | Standard | Temporary housing costs including meals, lodging and transportation when you can't stay in your rental home. Benefits run on a percentage of personal property limits or a set amount, depending on the insurer. |
Natural disasters | Add-on | Separate policies covering personal property damage from earthquakes and floods |
Parts/Equipment | Add-on | Separate policies for tools, appliances and utilities in your rental |
Scheduled property | Add-on | Specific valuable items insured up to a predetermined amount |
Identity theft | Add-on | Financial protection against identity theft, covering stolen funds, legal expenses and monitoring services. |
Pet liability | Add-on | Injuries caused by your pet on your rental property, though standard policies may include this |
Modifications | Add-on | Custom additions and modifications beyond the original rental property |
Food loss | Add-on | Food lost due to covered incidents |
Best Renters Insurance in Minnesota: Bottom Line
Minnesota's best and cheapest overall renters insurance companies are Chubb and State Farm. While we recommend these options, you should research and compare multiple companies and quotes to get the best deal.
Renters Insurance in Minnesota: FAQ
Here are answers from our experts to common questions:
What is the cheapest renters insurance company in Minnesota?
State Farm offers the cheapest renters insurance in Minnesota, with an average annual premium of $188 or $16 per month.
What is the best renters insurance company in Minnesota?
Chubb is Minnesota's best renters insurance company, with a MoneyGeek score of 95 out of 100 due to its great balance of affordability, customer service and coverage options.
How much does renters insurance cost in Minnesota?
The average cost of renters insurance in Minnesota is $236 per year or $20 per month, about 3% lower than the national average. Annual premiums range from $188 to $426.
Is renters insurance required in Minnesota?
Minnesota doesn't legally require renters insurance, but your landlord might ask for it. Consider your needs and situation to decide if a policy is right for you. Reasons to get renters insurance include financial protection from common risks and liability for third-party injuries.
How We Found the Best Cheap Renters Insurance Companies
To find the cheapest renters insurance in Minnesota, we used this base profile:
- $50K personal property coverage
- $100K liability coverage
- $1,000 deductible
- Property replacement coverage
- Good credit score
We used this to determine our affordability score for the state (60% of the score).Â
Other parts of our score included:
- Customer satisfaction from industry research (25%)
- Add-on coverages (10%)
- Financial strength ratings (5%)
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
sources
- American Red Cross. "Which Natural Disasters Should You Prepare For?." Accessed April 29, 2025.
- Insurance Information Institute. "Facts + Statistics: Identity Theft and Cybercrime." Accessed April 29, 2025.
- U.S. News. "Low Property Crime Rate." Accessed April 29, 2025.