Updated: December 19, 2024
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In Minneapolis, Minnesota, Chubb is the best choice for home insurance overall, also getting high marks for being the cheapest and the best in customer service.
The company caters to different needs, and choosing the best cheap home insurance for you depends on factors like price, service quality and coverage options.
Best HomeInsuranceMinneapolis, MNTable of Contents
Why Trust MoneyGeek? Using data from Minnesota's Department of Insurance and Quadrant Information Services, we've determined Minneapolis's top homeowners insurance, ensuring our choices are well-supported by data and industry standards.
In Minneapolis, the rates for homeowners insurance are representative of the most competitive quotes available as of September 2024.
MoneyGeek found that Chubb is the best option in Minneapolis, MN, for $100K dwelling coverage, with a MoneyGeek score of 99 out of 100.
The scores for home insurance companies in Minneapolis range from 48 to 99. These figures reflect MoneyGeek's scoring system — insurers may receive different scores based on your credit history, the age of your home, etc.
| Chubb | 99 | $860 |
| Auto-Owners Insurance | 92 | $1,154 |
| American Family | 87 | $1,108 |
| State Farm | 80 | $1,477 |
| Farmers | 69 | $1,631 |
| North Star Mutual | 61 | $1,530 |
| Encompass | 59 | $1,811 |
| COUNTRY Financial | 48 | $2,807 |
MoneyGeek found that Chubb is the best option for $100K dwelling coverage in Minneapolis, MN. The two best overall home insurance companies in the city for the same dwelling coverage are:
Chubb is the best home insurance that balances affordability and customer satisfaction, greatly contributing to its high MoneyGeek score.
In Minneapolis, many companies offer different cost and service experiences. Cost matters, but you should also consider factors like customer service and claims handling, as these might be important when making claims.
Chubb is the best overall company, with high scores in affordability and satisfaction. It offers comprehensive home insurance coverage. Guaranteed replacement cost helps rebuild your home even if costs exceed your policy limit. Building ordinance or law pays for updates to meet current codes. The cash settlement option allows you to receive a payout if you choose not to rebuild.
Chubb also provides discounts like new home and home renovation, helping policyholders save. For example, you can get a discount if your home is 10 years old or less.
MoneyGeek found that Chubb is the best customer service option in Minneapolis, MN. For an annual premium of $860, Here are the top two providers for $100K dwelling coverage:
Chubb stands out for its outstanding customer satisfaction score. With competitive pricing and high-quality coverage, you get great value with Chubb. In home insurance, excellent service means prompt claim processing and helpful customer support.
Chubb scores high in customer satisfaction and coverage. Its guaranteed replacement cost coverage helps rebuild your home even if costs exceed limits. The building ordinance or law covers updates to meet current codes. Lastly, cash settlement lets you choose not to rebuild and get a cash payout. You can save with discounts like protective devices and new home.
MoneyGeek found that Chubb is the best cheap option in Minneapolis, MN. The top two best and cheapest homeowner insurance companies for $100K dwelling coverage are:
Chubb stands out for its high affordability and solid customer satisfaction. Opting for cheap home insurance often means lower coverage, which can save money but may not fully protect you in an accident.
In instances where saving on premiums is a priority, considering the cheapest companies or learning the average cost of homeowners insurance in Minnesota may be beneficial. The best cheap home insurance differs from the most affordable because the former offers good value while maintaining essential coverage.
Chubb scores high in affordability and customer satisfaction. It offers various coverages. Guaranteed replacement cost helps rebuild your home after a loss. Building ordinance or law covers the costs of meeting current codes. Cash settlement lets you choose a payout if you opt not to rebuild.
You can also save money with a new home — if your home is less than 10 years old — and home renovation discounts.
MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — it’s free, no personal information required, no spam.
Rates updated:
Dec 23, 2024
Homeowners insurance in Minneapolis is affected by several factors, including location. Comparing rates is essential for savings, but it can take 15 minutes per company. Comparing three or more means over an hour of research. MoneyGeek's home insurance calculator helps save time by focusing on key factors. Enter your age, dwelling coverage, credit score, deductible, liability coverage and more to get a rate estimate.
Chubb offers the most affordable home insurance in Minneapolis, MN. The key aspect affecting premiums is the dwelling coverage you select.
In Minneapolis, Chubb has a low yearly price for $100K coverage, though it scores highly overall. Auto-Owners Insurance provides the most affordable rates for both $250K and $500K coverages. Opting for the cheapest homeowners insurance in Minnesota helps you handle your finances wisely.
| Chubb | $860 |
| American Family | $1,108 |
| Auto-Owners Insurance | $1,154 |
| State Farm | $1,477 |
| North Star Mutual | $1,530 |
| Farmers | $1,631 |
| Encompass | $1,811 |
| COUNTRY Financial | $2,807 |
American Family is the cheapest option for high-value home insurance in Minneapolis, MN. High dwelling coverage is essential for costly homes due to increased rebuilding costs, and home insurance costs tend to rise.
American Family is the least expensive homeowner's insurance for high-value homes. According to MoneyGeek, despite being budget-friendly, it might not be the overall top provider in the city.
| American Family | $4,296 |
| Auto-Owners Insurance | $4,390 |
| Farmers | $4,604 |
| Chubb | $6,172 |
| State Farm | $6,430 |
| Encompass | $6,741 |
| North Star Mutual | $9,544 |
| COUNTRY Financial | $12,502 |
American Family is the most affordable option for new homes, offering home insurance in Minneapolis, MN.
American Family is the cheapest homeowners insurance option in Minneapolis for new homes. However, it is essential to consider that the lowest price might not always offer the best coverage. Beyond finding affordable options, ensure you are adequately covered.
| American Family | $696 |
| Chubb | $860 |
| Auto-Owners Insurance | $862 |
| State Farm | $881 |
| North Star Mutual | $1,103 |
| Farmers | $1,223 |
| COUNTRY Financial | $1,638 |
| Encompass | $1,811 |
Securing the best cheap homeowners insurance is about finding a provider that delivers excellent customer service and comprehensive coverage at an affordable rate. This balance offers peace of mind without breaking the bank. To guide you, we outlined the key factors when seeking the best and most affordable homeowners insurance.
Determine how much home insurance you need by considering the unique aspects of your Minneapolis home, such as rebuilding costs and liability coverage.
Look into insurance companies in Minneapolis. Focus on those with strong financial health, positive customer feedback and a solid service history.
Once you know what you need, compare home insurance quotes. In Minneapolis, $100K dwelling coverage premiums range from $860 to $2,807 annually.
Inquire about potential discounts, such as bundling, safety features or a claims-free history, with each insurer.
Opting for a higher home insurance deductible can reduce your premium, but ensure the amount is manageable.
Enhancing your home's security with systems and strong locks can lower its risk profile and possibly your insurance costs.
A good credit score can influence your insurance rates in Minneapolis. Pay bills promptly and manage debt wisely.
Consider combining your homeowner insurance with other policies like auto insurance for potential discounts.
The best cheap home insurance provider in Minneapolis depends on your coverage needs and budget. Get answers to common questions about affordable insurance rates in Minneapolis, MN.
The average cost of home insurance in Minneapolis is $1,293.
The cheapest home insurance company in Minneapolis is Chubb, with an annual premium of $860.
The best home insurance in Minnesota for Minneapolis residents is from Chubb, with a MoneyGeek score of 99 out of 100.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
