Updated: March 11, 2026
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Top renters insurer in Minnesota: Chubb
Most affordable renters insurance in Minnesota: AAA
Minnesota average renters insurance cost: $192 per year
With a MoneyGeek score of 4.8 out of 5, Chubb ranks as Minnesota's best renters insurance provider at $8 per month. The company leads for its customer experience and affordability.
These five companies earned the top MoneyGeek scores for renters insurance in Minnesota:
| Chubb | 4.83 | $8 | $91 |
| State Farm | 4.76 | $8 | $97 |
| Westfield Insurance | 4.63 | $14 | $169 |
| AAA | 4.62 | $5 | $66 |
| Auto-Owners Insurance | 4.62 | $10 | $122 |
*Rates for renters aged 26 to 64 with good credit and no claims history. Policy includes $20,000 in personal property coverage, $100,000 in liability coverage and a $500 deductible.
Best for Minnesota Renters
J.D. Power Renters Insurance Customer Satisfaction Score
Average Annual Premium
Average Monthly Premium
J.D. Power Renters Insurance Customer Satisfaction Score
Average Annual Premium
Average Monthly Premium
J.D. Power Renters Insurance Customer Satisfaction Score
Average Annual Premium
Average Monthly Premium
J.D. Power Renters Insurance Customer Satisfaction Score
Average Annual Premium
Average Monthly Premium
J.D. Power Renters Insurance Customer Satisfaction Score
Average Annual Premium
Average Monthly Premium
Minnesota renters can pay as little as $5 per month through AAA for $20,000 in personal property coverage. That's $11 less per month than Minnesota's $16 average, saving you $132 per year compared to the state average.
The 10 most affordable companies range from $5 to $42 monthly for identical coverage. Six of 10 insurers charge less than Minnesota's $16 state average for cheapest renters insurance.
| AAA | $5 | $-11 |
| Chubb | $8 | $-8 |
| State Farm | $8 | $-8 |
| North Star Insurance | $10 | $-6 |
| Auto-Owners Insurance | $10 | $-6 |
| Westfield Insurance | $14 | $-2 |
| Farmers | $18 | $2 |
| American Family | $18 | $2 |
| Allstate | $27 | $11 |
| Nationwide | $42 | $26 |
At $192 annually, Minnesota renters pay the same as the national average of $16 per month for renters insurance. Despite Minnesota's severe weather risks from snowstorms and flooding, plus higher theft rates in densely populated urban areas, costs remain competitive with national rates. These local risk factors still impact insurers' overall claim costs across the state.
Rochester offers the most affordable renters insurance in Minnesota at $15 monthly ($175 annually), while Minneapolis has the highest rates at $17 per month ($202 annually). The spread across cities is narrow, with most near $16 per month statewide. Local factors like crime rates, weather exposure and claims history account for these pricing differences between communities.
| Cass Lake | $15 | $186 |
| Hopkins | $16 | $190 |
| Minneapolis | $17 | $202 |
| Rochester | $15 | $175 |
| Saint Paul | $17 | $198 |
| Steen | $16 | $186 |
At Minnesota's highest coverage tier, State Farm offers the most affordable renters insurance at $32 monthly for $250,000 in personal property coverage and $300,000 in liability protection. However, AAA provides the cheapest rates across the three lower coverage tiers, winning at $20,000, $50,000 and $100,000 in personal property coverage with $100,000 liability limits.
| $20K Personal Property / $100K Liability | AAA | $5 |
| $50K Personal Property / $100K Liability | AAA | $10 |
| $100K Personal Property / $100K Liability | AAA | $18 |
| $250K Personal Property / $300K Liability | State Farm | $32 |
Know your coverage options, estimate your property value and compare quotes from multiple insurers before buying a policy.
Rates vary widely between insurers, so comparing quotes can save you hundreds per year. AAA charges $5 per month while Nationwide charges $42 for the same $20,000 coverage, a $37 monthly difference. Use online quote tools to compare at least three insurers and find the lowest rate.
Bundling renters and auto coverage with one insurer cuts 10% to 25% off both premiums. State Farm and Auto-Owners offer this discount, reducing your total insurance costs while consolidating billing and claims into a single contact.
Choosing a higher deductible reduces your monthly premium but means you'll cover more costs when filing claims. Before making this change, verify your emergency fund can handle the increased out-of-pocket expense if you need to file a claim for theft or damage.
Don't miss out on savings since insurers won't automatically apply every discount you qualify for. Minnesota insurers commonly reduce rates for security systems, smoke detectors, claims-free history and automatic payments. State Farm also offers good student discounts for renters under 25 who maintain a B average or higher.
Most landlords require at least $100,000 in liability coverage, though Minnesota doesn't mandate renters insurance by law. Factors like pet ownership, credit score and rental history affect your coverage requirements. Your property value, local weather risks and crime rates should inform your coverage limits.
Use our calculator below to find out how much renters insurance you need.
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.
Clothes, shoes, bags, belts, hats, gloves, etc.
Review our experts' answers to frequently asked questions below:
Chubb earns the top spot for renters insurance in Minnesota with a MoneyGeek score of 4.8 out of 5. At $8 monthly, it offers high customer satisfaction at affordable rates.
The average renters insurance cost in Minnesota is $16 per month or $192 annually for $20,000 in personal property coverage. Minnesota matches the national average of $16 monthly due to severe weather risks and higher property crime rates in metro areas.
AAA offers the cheapest $100,000 renters insurance coverage at $18 per month in Minnesota. The state average for this coverage level is $45 monthly or $544 annually. Most renters choose $20,000 to $50,000 in coverage, so the $100,000 tier works best for those with expensive belongings or valuable collectibles.
Minnesota doesn't legally require renters insurance, but most landlords mandate at least $100,000 in liability coverage as part of your lease agreement. Your specific requirements depend on factors like rental history, credit score and pet ownership. Always review your lease carefully to understand the exact coverage amounts your landlord requires.
We analyzed Minnesota renters insurance companies to find insurers with affordable rates and excellent service.
We gathered quotes for renters with this profile:
Affordability accounted for 50% of each company's score. Customer satisfaction from industry research made up 40%. Add-on coverage options contributed 10%. Companies with the highest combined scores across all factors earned spots on our list of Minnesota's best renters insurance providers.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in 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.
