Best Homeowners Insurance in Minnesota (2024)

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Updated: December 4, 2024

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Chubb is the best home insurance company in Minnesota for those seeking quality and affordability. Auto-Owners offers tailored benefits for those with new homes. When considering dwelling coverage, American Family is a better fit for high-value home needs.

Our analysis determined premiums based on a $100,000 dwelling coverage limit. Your premium will vary with the amount of dwelling coverage you need. MoneyGeek also analyzed the cheapest home insurance in Minnesota if saving money is your top priority.

Key Takeaways

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In Minnesota, Chubb is recognized as the best overall homeowners insurance provider, earning a MoneyGeek score of 99 out of 100 and offering a balanced combination of affordability and quality service at an annual premium of $750. Auto-Owners follows closely as the runner-up, achieving a MoneyGeek score of 94 out of 100 with a yearly cost of $930, providing tailored benefits especially advantageous for new homeowners. Homeowners in Minnesota benefit from considering both affordability and service quality when choosing their insurance provider.

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For homeowners in Minnesota seeking the most affordable insurance, Chubb stands out as the cheapest provider at an average annual premium of $750. Not only does it offer affordability, but Chubb also provides quality service with a high MoneyGeek score of 99 out of 100. The runner-up, Auto-Owners, also offers competitive options for those considering a balance between cost and service.

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For homeowners in Minnesota prioritizing outstanding customer service, Chubb emerges as the top insurance provider, earning a remarkable MoneyGeek score of 96 out of 100. As a strong contender, Auto-Owners follows closely with the same MoneyGeek score of 96 out of 100, making it an excellent alternative for reliable service.

Why Trust MoneyGeek? To determine the best homeowners insurance options in Minnesota, we compiled quotes and information from the Minnesota Department of Commerce - Insurance and Quadrant Information Services, ensuring that data and industry standards back our recommendations.

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Home insurance rates in Minnesota represent the latest quotes as of July 2024.

1,036,800Quotes Analyzed
 
8Companies Compared
 
11ZIP Codes

Overall Best Homeowners Insurance in Minnesota

Chubb, the top provider of the best home insurance in Minnesota. Homeowners in the North Star State can look at the top overall homeowners insurance providers for comprehensive coverage:

  • Chubb: MoneyGeek score of 99 out of 100 ($750 per year)
  • Auto-Owners: MoneyGeek score of 94 out of 100 ($930 per year)

Homeowners in Minnesota have access to a range of companies offering diverse cost structures and levels of service. It's essential to weigh both affordability and quality service to find a home insurance policy that fits your unique needs and financial considerations.

Company logo for Chubb
Best OverallChubb
MoneyGeek Score:
99/ of 100
Overview

Chubb leads the Minnesota home insurance market with top-notch affordability and customer satisfaction scores. Its average annual premium is $750.

Chubb's offerings include its cash settlement option, which provides a cashout in the event of a total covered loss, which can be pivotal in quick recovery. Its risk consulting service offers personalized assessments to better protect your home, ensuring a comprehensive approach to home safety and security.

Best Homeowners Insurance in Minnesota for Customer Service

Chubb leads in service quality for home insurance in Minnesota. These top two providers have exceptional service for Minnesota homeowners:

  • Chubb: MoneyGeek score of 96 out of 100 ($750 per year)
  • Auto-Owners: MoneyGeek score of 96 out of 100 ($930 per year)

Valuing service quality in a home insurance provider means prioritizing reliability, customer support and comprehensive coverage options that meet your needs. Homeowners who desire a swift and empathetic response following a storm or burglary will benefit significantly from choosing providers recognized for their high service quality.

Company logo for Chubb
Best for ServiceChubb
MoneyGeek Score:
96/ of 100
Overview

Chubb stands out in Minnesota for its exceptional service quality. Its perfect customer satisfaction score reflects a commitment to customer satisfaction. Its average annual premium is $750.

Chubb offers add-ons like cash settlement, which allows homeowners flexibility in the event of a total loss by choosing a cash payment instead of rebuilding. Its risk consulting service offers personalized risk assessment and mitigation strategies. These offerings demonstrate Chubb's dedication to providing comprehensive protection tailored to individual homeowner needs.

Best Cheap Homeowners Insurance in Minnesota

Chubb provides the cheapest homeowners insurance in Minnesota for those on a budget. These are the best and most affordable homeowners insurance providers:

  • Chubb: MoneyGeek score of 99 out of 100 ($750 per year)
  • Auto-Owners: MoneyGeek score of 93 out of 100 ($930 per year)

Note that cheaper premiums don't always equate to the best service. When considering the average cost of home insurance in Minnesota, choosing a provider like Chubb is important, as it provides a good balance between cost and service. It's worth choosing a responsive and cost-effective company, especially when needing urgent assistance after an event like a storm.

Company logo for Chubb
Best CheapChubb
MoneyGeek Score:
99/ of 100
Overview

Chubb stands out in Minnesota with a perfect affordability score, offering an average annual premium of $750. Its commitment to cost-effectiveness without sacrificing quality makes it a go-to for budget-conscious homeowners.

Chubb helps homeowners lower expenses through discounts like bundle and protective device. Bundle discounts reward customers who combine multiple policies. Protective device savings are for homes equipped with safety features, promoting security and potential savings. Its guaranteed replacement cost and back-up of sewer or drain coverages ensure comprehensive asset protection and peace of mind.

Best Homeowners Insurance in Minnesota for Expensive Homes

American Family is the premier home insurance provider in Minnesota for owners of expensive homes. These are the best insurers in Minnesota for pricey properties requiring at least $1 million in dwelling coverage:

  • American Family: MoneyGeek score of 92 out of 100 ($3,904 per year)
  • Auto-Owners: MoneyGeek score of 90 out of 100 ($6,006 per year)

For owners of high-value homes, finding insurance that balances cost with comprehensive coverage is vital, and American Family offers just that — a perfect blend of affordability and quality.

Company logo for American Family Insurance
Best for Expensive HomesAmerican Family Insurance
MoneyGeek Score:
92/ of 100
Overview

American Family is the top home insurance provider in Minnesota for high-value properties, boasting a perfect affordability score and an average annual premium of $3,904. Homeowners can benefit from the company's bundle discounts, leveraging savings by combining home with auto insurance. This is particularly advantageous for expensive homes that demand more coverage.

In addition to cost savings, American Family provides extensive protection options, such as back-up of sewer or drain and personal property replacement cost. These coverages secure homeowners against water backup damage and ensure full value replacement for personal belongings.

Best Homeowners Insurance in Minnesota for New Homes

Auto-Owners is the premier home insurance provider for new homes in Minnesota. The following providers lead the pack for $500K in dwelling coverage for new homes, offering an exceptional balance of affordability and quality service:

  • Auto-Owners: MoneyGeek score of 98 out of 100 ($1,543 per year)
  • Chubb: MoneyGeek score of 70 out of 100 ($3,581 per year)

With an outstanding affordability score and a commendable service score, Auto-Owners ensures Minnesota homeowners receive a balance of value and customer care. This combination is central to a secure home insurance experience.

Company logo for Auto-Owners Insurance
Best for New HomesAuto-Owners Insurance
MoneyGeek Score:
98/ of 100
Overview

Auto-Owners is the top pick for those with new homes in Minnesota. It has a perfect affordability score and an average annual premium of $1,543.

Consider enhancing your home's security with Auto-Owners' equipment breakdown coverage, which protects against unexpected mechanical or electrical failures. You can also benefit from various savings opportunities, like an early payment discount for new customers who pay ahead. It also offers a protective device discount for installing safety devices such as smoke alarms. These incentives can lead to significant premium reductions while promoting both timely payments and home safety.

Best Homeowners Insurance in Minnesota for Veterans

Chubb stands out as the premier home insurance provider in Minnesota for military members and veterans seeking homeowners insurance. It offers a balance of value and quality, with an affordable average annual premium of $750. These are the best and cheapest home insurers for veterans and military families:

  • Chubb: MoneyGeek score of 99 out of 100 ($750 per year)
  • Auto-Owners: MoneyGeek score of 94 out of 100 ($930 per year)

The optimal homeowners insurance company for veterans addresses their distinct needs, such as the challenges associated with frequent relocations and the unpredictability of deployments. The best companies ensure veterans' homes and possessions remain safeguarded in any life event.

Company logo for Chubb
Best for VeteransChubb
MoneyGeek Score:
99/ of 100
Overview

Chubb is the premier home insurance provider for veterans in Minnesota. Its average annual premium is $750, and it earns perfect affordability and customer satisfaction scores.

Chubb offers guaranteed replacement cost coverage, which ensures full rebuilding of your home after a disaster without depreciation, providing a safety net for your investment. Veterans may also benefit from practical savings with Chubb’s new home discount, which rewards recent construction or renovation. Its claims-free discount benefits those with a clean claims history.

How to Find the Best Homeowners Insurance in Minnesota for You

Identifying the best homeowners insurance providers involves seeking those that offer an optimal blend of exceptional customer service, comprehensive coverage and manageable premiums. The most suitable insurance for you depends on your specific needs and circumstances. These steps help you pinpoint the policy that aligns with your unique requirements, ensuring protection and peace of mind for your home.

  1. 1

    Assess Your Insurance Needs

    Begin by evaluating how much home insurance coverage you need, considering the value of your home and belongings. This will establish a baseline for the amount of protection you should seek.

  2. 2

    Research Various Providers

    Investigate multiple insurance companies, focusing on their reputations, customer service records and the types of coverages they offer. Considering a mix of national and local insurers is crucial to get a broad overview of available options.

  3. 3

    Compare Coverage and Costs

    Once you have a list of potential providers, examine the specifics of their policies and the price. Pay attention to deductibles, coverage limits and the fine print that could affect claims. To streamline this process, you may want to compare home insurance quotes online.

  4. 4

    Understand the Policy Details

    Carefully review each policy's features, examining what is and isn't covered. Check the details regarding replacement costs, actual cash value and the procedures for filing claims so that you know exactly what your policy entails before making a decision.

  5. 5

    Consult With an Independent Agent

    Talk to an independent insurance agent for an unbiased perspective on the best policy for your needs. They can help you navigate the complexity of various policies and find the best balance of coverage and cost tailored to your situation.

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DOES HOME INSURANCE COVER FLOOD DAMAGE IN MINNESOTA?

In Minnesota, flood insurance isn’t required by law for homeowners. Yet, to safeguard against possible flood damage, investing in flood insurance in Minnesota is recommended.

FAQ: Homeowners Insurance in Minnesota

Selecting the most suitable homeowners insurance provider in Minnesota hinges on your unique requirements. To assist in navigating this decision, explore the following frequently asked questions tailored to pinpoint the best options available.

Which insurance company is best for home insurance in Minnesota?

Who has the most affordable homeowners insurance in Minnesota?

About Mark Fitzpatrick

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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.

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