Updated: May 8, 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:
| Auto-Owners Insurance | 4.62 | $10 | $122 |
| AAA | 4.62 | $5 | $66 |
| Westfield Insurance | 4.63 | $14 | $169 |
| State Farm | 4.76 | $8 | $97 |
| Chubb | 4.83 | $8 | $91 |
*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 |
Minnesota renters pay $16 a month ($192 annually), matching the national average. This lack of an increase is good given Minnesota's exposure to snowstorms, flooding and above-average urban theft rates, all of which should raise insurer claim costs across the state.
Rochester has the lowest renters insurance rates in Minnesota at $15 a month ($175 annually). Minneapolis is the most expensive at $17 a month ($202 annually). Most cities fall near the $16 statewide average. Crime rates, weather exposure and local claims history account for the 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.
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 has the cheapest $100,000 coverage in Minnesota at $18 a month. The state average for this tier is $45 a month ($544 annually). Most renters carry $20,000 to $50,000, so $100,000 makes sense for renters with expensive belongings or valuable collectibles.
No. There's no state law requiring it, but most landlords mandate at least $100,000 in liability coverage as a lease condition. Requirements vary based on rental history, credit score and pet ownership. Review your lease to know exactly what your landlord requires before shopping for a policy.
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 (P&C) Insurance Producer in Connecticut, is MoneyGeek's resident insurance expert. He has analyzed the insurance market for almost a decade, first with LendingTree and now with MoneyGeek, conducting original research on hundreds of insurance companies and millions of insurance rates for insurance shoppers.
He writes about economics and insurance on MoneyGeek, breaking down complex topics so people can have confidence in their purchase. Like all MoneyGeek analysts, Mark collects and analyzes independent cost and consumer experience data on insurance companies to provide objective recommendations in our content that are independent of any of MoneyGeek's insurance company partnerships.
His insights on products ranging from car, home and renters insurance to health and life insurance have been featured in The Washington Post, The New York Times and NPR, among others.
Mark holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He started his career working in financial risk management at State Street before transitioning to the analysis of the personal insurance market. He's also a five-time Jeopardy champion!
