Get homeowners insurance before moving to Minnesota. Home insurance protects you and your possessions from damage and theft. Most lenders require that their customers have home insurance as part of their mortgage.
Comparing quotes is important. Make sure you get at least three quotes and carefully compare the price, customer service and coverage. This will help you to determine the best insurance policy for your specific needs.
The average cost of home insurance in MN
Many factors determine the price of Minnesota homeowners' coverage, including the age of the homeowner, the level of protection needed, and the location of the home. If you're in a flood-prone area, for example, you may need more coverage than someone in a dry, arid region.
Take into consideration your location as well as crime rates and any other factors that may impact your home. For instance, if you live in a high-crime neighborhood in Minneapolis, you'll want to invest in higher-than-average liability protection.
How to buy a homeowners insurance policy in MN
Minnesota home insurance will cover the structure of your house, as well as any personal belongings and any loss of use. It is worth comparing insurance quotes because the coverage will vary depending on how much you value your personal belongings.
Reviewing your coverage each year is also a great idea, as your home's needs and your lifestyle can change over time. This will allow you to determine whether or not you're paying too much for insurance and if your coverage is still appropriate for your house.
Best Home Insurance Companies in MN
There are many national, regional and local companies that offer homeowners insurance in Minnesota. If you read reviews of Minnesota's top carriers on websites such as the Better Business Bureau, or look for insurers with an AM Best rating, you can easily find the list.
Allstate
Allstate offers one of the most user-friendly online experiences in the state. Its mobile app allows you to easily manage your policy, including payments. It also has an assortment of add-ons that can cut costs and improve your peace of mind.
Liberty Mutual
Liberty Mutual Minnesota offers homeowners insurance at a very affordable rate. The annual premium is $1046 as opposed to the average state price of $1773. Liberty Mutual offers a variety of policies from simple ones for renters or condo owners to complex policies for older houses and historic homes.
Farmers
Farmers is another popular Minnesota home insurance company that offers a variety of discounts to help you save money. Its site offers information on its policies to help you compare them, as well as discounts for your particular needs.
HO-6 (walls-in)
Condo owners and mobile or small homes can benefit from a homeowners policy HO-6. This coverage, also known as "walls-in", is a good option for owners of historic or architecturally valuable homes.