Average homeowners insurance cost in Bloomington, Minnesota

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In Bloomington, homeowners pay an average annual rate of $2,599 for a coverage level that includes $300,000 for dwelling, $100,000 for liability protection, and a $1,000 deductible, according to our data. This is $17 more than the national average of $2,582 .

Homeowners insurance premiums can vary significantly from one property to another. In Bloomington, the cost of home insurance is influenced by several factors, including:

Size of your home
Age of your home
Amount of coverage you need
Location
Your credit score

Auto-Owners is the cheapest homeowners insurance company in Bloomington with an average annual premium of $1,566 per year.

This guide covers everything from available coverage options to companies with the cheapest homeowners insurance rates in Bloomington. Keep reading to learn about the monthly cost of homeowners insurance in Bloomington, the cost for different dwelling coverage levels, and which companies provide the most affordable home insurance in Bloomington.

Key Takeaways

In Bloomington, homeowners insurance costs $2,599 annually.
Auto-Owners offers the most affordable homeowners insurance in Bloomington with an average annual premium of $1,566 .
If you increase your dwelling coverage from $200,000 to $300,000, your annual home insurance premium will be $649 higher.

Average homeowners insurance cost per month

How much you pay for a homeowners insurance policy depends on the value of your home, your location, and the coverage options you select.

Homeowners in Bloomington pay an average of $217 per month. It’s $17 more than the state average of $200 and $2 more than the national average for home insurance across the nation.

Average homeowners insurance cost for a $200,000 house in Bloomington

The average cost of homeowners insurance in Bloomington, MN is $1,950 annually for the dwelling coverage of $200,000 and the liability protection of $100,000. The cost of your home insurance each year depends on several factors – including the risk of natural disasters in your area. If your city is prone to events like hurricanes, wildfires, or floods, you’ll likely pay more for coverage.

Some places are more prone to natural disasters, like floods, hurricanes, or tornadoes. That makes rebuilding after a major event more expensive, which is why home insurance tends to cost more in those areas. And keep in mind, your standard policy probably doesn’t cover flood or hurricane damage. If you live in a high-risk zone, it’s definitely worth looking into separate flood insurance for extra protection.

Average homeowners insurance cost for a $300,000 house in Bloomington

According to a rate analysis by Insure.com, homeowners in Bloomington pay an average of $2,599 per year for a $300,000 house. These rates are for the coverage limits of $100,000 for liability protection and $1000 deductible.

If you increase your dwelling coverage from $200,000 to $300,000, you’ll have to pay $649 more a year for home insurance. It would be best to buy enough insurance to cover the full cost of rebuilding your home.

However, the amount of dwelling coverage you need may vary depending on the size of your home, its features, and the cost of living in your area.

Average homeowners insurance cost in Bloomington by company

After comparing several homeowners insurance companies, Auto-Owners offers the lowest rates in Bloomington. Its average annual rate for homeowners in Bloomington is $1,566 , while Western National Mutual is the second-cheapest.

Researching the insurance company is crucial before selecting a homeowners insurance policy. Our experts have analyzed all insurance providers in Bloomington and compiled a list of the cheapest home insurance providers. Below, you’ll find the home insurance companies in Bloomington and their average annual premiums.

Home Insurance Company	Annual rate
Auto-Owners	$1,566
Western National Mutual	$1,749
Automobile Club MI (AAA)	$1,845
West Bend Mutual	$2,137
North Star Mutual	$2,192
American Family	$2,807
Farmers	$2,927
Country Financial	$5,463
State Farm	$2,382

Bundling your home insurance with other policies, like auto insurance, can lead to significant savings. Insurance companies often offer discounts for customers who combine multiple policies. By bundling, you can reduce your premiums and manage your insurance needs with one company.

Natural disasters in Minnesota that can impact your home insurance

Natural disasters are a part of life in Minnesota, often leading to expensive insurance claims. That’s why it’s so important to understand which disasters are most likely in your area before choosing a home insurance policy.

When you’re aware of the specific risks in your region, you can tailor your coverage to match – whether that means increasing your policy limits, choosing a deductible you’re comfortable with, or adding extra protection for uncovered events. Taking these steps now can help you avoid being underinsured and give you more financial security if a natural disaster hits your area.

Minnesota is commonly affected by Cold wave, Strong wind and Winter weather.

How home insurance protects you against natural disasters

Home insurance can provide valuable protection against the financial impact of natural disasters. Standard home insurance policies typically cover damages from fire, windstorms, hail and lightning. However, events such as floods, earthquakes or landslides are excluded and require purchasing additional policies or endorsements. For example, flood insurance must be purchased separately, as it is not typically covered by a standard home insurance policy.

Home insurance pays for home repairs, replacement belongings and temporary living expenses if your dwelling becomes uninhabitable due to damage. The protection offered by home insurance can significantly reduce the financial impact of natural disasters.

Make sure your coverage is disaster-ready

The best time to review your homeowners insurance is before a storm hits. If you’ve made upgrades to your home or live in a disaster-prone area, you may need more coverage than you think. A quick policy check now can prevent big financial losses later.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Bloomington for $300,000 dwelling coverage, $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.