One of the considerations that Minneapolis residents should have when purchasing renters insurance is the cost of coverage. Different insurers charge different costs for their policies, so to find the cheapest renters insurance in the city, you will need to compare quotes across different providers.
According to the MoneyGeek study, the most affordable renters insurance companies in Minneapolis for an average consumer are:
- State Farm: $87 per year
- American Family: $90 per year
MoneyGeek based its study on a policy that provides $20,000 in personal property coverage limits, $100,000 in liability coverage limits and a deductible of $500. Renters may pay more or less depending on various factors. You can use the table below to calculate costs for different property coverage limits.
MoneyGeek allows residents of other cities within Minnesota to compare renters insurance for the state as a whole.