It is important to get homeowners insurance when moving to Minnesota. The insurance covers your home, your possessions and any damage that may occur. Most mortgage lenders require you to have this policy.
It's important to get a quote from at least three companies and compare them carefully for price, coverage and customer service. This will give you a better idea of how to find the best policy for your needs.
The average cost of home insurance in MN
The cost of Minnesota homeowners insurance is determined by many factors, such as your age, how much coverage you require, and where you live. If you're in a flood-prone area, for example, you may need more coverage than someone in a dry, arid region.
It's important to also consider the location of your house, the crime rate and any other potential dangers. For example, if your home is located in a Minneapolis area with high crime rates, you should invest in more liability protection.
How to Buy Homeowners Insurance in MN
Minnesota home insurance policies cover your building, personal property, and loss of use. The coverage can vary depending on the value of your personal items, so it's worth comparing quotes to find out what's the best option for you.
It's also a good idea to review your coverage every year, as the needs of your home and lifestyle may change over time. This will enable you to decide if you're buying enough insurance for your home and if that coverage is still suitable.
Best Home Insurance Companies in MN
Many national, regional and even local companies offer homeowners insurance in Minnesota. You can find out who the top-rated insurance companies in Minnesota are by reading reviews about them on consumer sites such as Better Business Bureau.
Allstate
Allstate is known for its excellent online service. You can easily manage payments and your policy with the mobile app. Add-ons can help you save money and enhance your peace ofmind.
Liberty Mutual
Liberty Mutual Minnesota homeowners insurance is affordable, with rates of just $1,046 annually compared to $1,773 for the average rate in the state. It has a range of insurance policies, including basic ones for renters and condominium owners as well as more complex ones designed for older homes.
Farmers
Farmers is yet another Minnesota home insurance firm that offers several discounts. Its website has basic information you can use to compare the policies. You can learn more about discounts available for you based on what you need.
HO-6 (walls-in)
A HO-6 policy is a great option for condo owners, small home or mobile home owners. This type of insurance is sometimes called "walls in" and it can be an excellent option for homeowners who have historic or architecturally significant homes.