The Best and Cheapest Renters Insurance in St. Paul, MN, for 2025: Rankings, Reviews and Rates

Before purchasing an insurance policy, it’s important to compare quotes from different insurers. Most offer the same core coverages at different rates, so you could save money without compromising coverage.

MoneyGeek found that the following insurers offer the cheapest renters insurance in St. Paul:

• State Farm: $87 per year
• American Family: $89 per year

These average costs are based on policies with $20,000 in personal property coverage limits, $100,000 in liability coverage limits and a deductible of $500. You can see the table below to understand how your insurance costs might change depending on your personal property coverage limits.

If you do not reside in St. Paul, you can also compare renters insurance costs in Minnesota.

MoneyGeek’s analysis shows that the following insurance companies offer the best renters insurance policies in St. Paul:

• Best Overall: State Farm
• Runner-Up: American Family

We ranked these companies after analyzing them based on our unique scoring system that incorporates affordability, customer satisfaction ratings from J.D. Power and financial stability ratings from AM Best. The renters insurance policies of these insurers include coverages not offered by other insurance companies.

In St. Paul, the average cost of renters insurance is $99 per year or $8 per month. Compared to the national average of $159 per year, it costs $60 less to purchase renters insurance in St. Paul.

St. Paul renters insurance is 19.0% less than the U.S. average.

While there are several factors that impact your renters insurance cost, the following have the greatest impact on the amount that you spend:

1. Personal property coverage amount. Your policy’s personal property coverage amount significantly impacts your insurance costs. If you want to cover more of your personal belongings, you’ll pay more for insurance.
2. Location. Where you live in the city can also affect how much you pay for renters insurance. If you live in an area with a high crime rate, your insurance premium will be higher.
3. Deductible. It refers to the amount of money you would have to cover when you file a claim for damage to personal items. The insurance company will begin its coverage after you cover this amount.
4. Actual Cash Value (ACV) vs Replacement Cash Value (RCV). Since an ACV policy reimburses you for your item’s depreciated value, it costs less on a monthly basis. On the other hand, an RCV policy helps you replace or repair your damaged item at no cost to you, but these policies feature higher monthly premiums.
5. Liability coverage amount. MoneyGeek found that the liability coverage amount has a minor effect on the cost of your policy. You can add thousands of dollars worth of liability coverage for only a few dollars per year.

Your neighborhood does not significantly impact the cost of your renters insurance policy. MoneyGeek’s research shows that your area may only increase your policy costs by a few dollars per month.

You aren’t required by law to have renters insurance in Minnesota, but certain landlords may require that you purchase it to rent their unit. Regardless, MoneyGeek strongly recommends purchasing a renters insurance policy as a low-cost way to protect your personal items in case of theft, fire or loss.

Before purchasing a policy, renters in St. Paul should make sure their selected policy includes coverages for hazards specific to their area. Purchasing a renters insurance policy can benefit renters living in areas with a high crime rate, as it protects their valuable personal items in case of theft. In 2019, the FBI reported that the property crime rate in St. Paul was 2,833 per 100,000 people, which is about 50% more than the national average.

You can also benefit from a standard renters policy if you live in an apartment or a home, as it usually includes fire and water damage coverage, which can protect you from the cost of damage in case of these unexpected events. The insurers generally offer the following coverages with a renters insurance policy:

• Personal property coverage: It covers your personal items and pays for their repair or replacement in case of damage due to a covered event like theft, fire, etc.
• Additional living expenses: If a disaster makes your rented property uninhabitable, this coverage will pay for your temporary living arrangements.
• Liability insurance: It helps cover the legal costs and court fees if an accident at your rental property causes injuries.
• Medical payments coverage: If an accident occurs at your home and causes injuries to your guests, this coverage will pay for their medical costs.

A standard renters insurance policy won't cover many situations. For instance, damage to the structure of your rental unit should be covered under a separate policy purchased by your landlord.

While renters insurance covers water damage in certain situations, the policy won't provide coverage for flood-related damages. If you want protection from flood damage, it's best to buy incremental insurance through the National Flood Insurance Program (NFIP).

A renters policy also doesn't cover your roommate's possessions, earthquake damages, car damages or jewelry and other items whose value exceeds the policy limits. However, since all policies are different, it's best to read your policy carefully to understand better what it does and doesn't cover.

MoneyGeek researched the following frequently asked questions to help you understand more about renters insurance in St. Paul.

Moneygeek analyzed hundreds of renters insurance quotes in St. Paul to help you find cheap renters insurance. The best renters insurance rankings were determined using data from J.D. Power, AM Best, and our affordability metrics that are derived from a comprehensive analysis of quotes provided by Quadrant.