Home Home insurance Renters insurance Renters insurance cost Minnesota Bloomington, MN Average renters insurance cost in Bloomington, MN View Carriers Please enter valid zip Compare top carriers in your area Written by Insure.com's Editor | Posted on: November 1, 2023 Why you can trust Insure.com Quality Verified At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry. The average cost of renters insurance in Bloomington, MN is $209 per year (for insurance coverage of $40,000 in personal property coverage, $100,000 in liability coverage, and $1000 as deductible) — that’s $9 more than the state average of $200 a year.It can be higher or lower depending on the coverage options you choose and the amount of liability the policy provides. If you live in a rented apartment or home, you should consider buying renters insurance because it protects your personal belongings from damage caused due to covered peril such as fire or smoke damage, theft, vandalism, and other mishaps. We did a thorough analysis of renters insurance companies to find the most affordable options for Bloomington renters. Keep reading to find out the cheapest renters insurance companies in Bloomington.What is the average cost of renters insurance per month in Bloomington?On average, the cost of renters insurance in Bloomington is $17 a month. Renters in Bloomington pay these rates for the coverage limit of $40,000 personal property coverage, $1,000 deductible and $100,000 liability protection coverage.The renters insurance rates vary by city depending on your insurance provider and the coverage limits you decide. For example, renters in Bloomington pay $13 per month for personal property coverage of $20,000 and $1,000 deductible. However, if you decide to increase the personal property coverage limit to $40,000, you will pay $4 more than for renters insurance.Now, you’ll have to decide how much coverage you need and how much you can afford. However, it is recommended, if your personal belongings consist of expensive jewelry, furniture, and electronics, you should choose higher coverage limits.How much is average renters insurance in Bloomington by deductible?The renters insurance cost in Bloomington is $173 per year for a $500 deductible and $20,000 as personal property coverage. A deductible is an amount you agree to pay before your insurance company kicks in. If you increase your deductible limit, your insurance cost will go down. For instance, if the personal property coverage is the same, i.e., $20,000, but you increase your deductible limit from $500 to $1,000, you will pay $12 less every year for insurance.Below are the renters insurance rates for different personal property coverage and deductible amount.Deductible$20,000 personal property$40,000 personal property$60,000 personal property$500$173$226$279$1,000$161$209$257Note: These rates are specifically for the coverage of $100,000 liability protection.Read our guide to know what does renters insurance cover.Who offers cheap renters insurance in Bloomington?Your search for the cheapest renters insurance company ends here.Automobile Club MI (AAA) offers the cheapest renters insurance in Bloomington at about $112 a year or $9 per month. According to Insure.com data analysis, Secura Insurance ranks second on our list followed by State Farm.Our experts at Insure.com evaluated renters insurance quotes from all the big and small insurance companies in Bloomington and put together a list of the most affordable insurance carriers. Below are the average annual and monthly rates of the cheap renters insurance companies across Bloomington, MN.(Note: USAA offers insurance only to members of the military, veterans and their immediate families.)Renters insurance providerAverage annual rateAverage monthly rateAutomobile Club MI (AAA)$112$9Secura Insurance$124$10State Farm$142$12Auto-Owners$169$14Allstate$174$15North Star Mutual$216$18American Family$245$20Farmers$268$22Western National Mutual$300$25Country Financial$339$28MethodologyInsure.com, with the help of Quadrant Information Services, gathered data for renters insurance rates in Bloomington, MN, for $40,000 personal property coverage, $100,000 liability coverage, and a $1000 deductible. How much is renters insurance in other citiesDuluthMinneapolisRochesterSt. Paul In case you missed it What is HO-6 condo insurance and how much does it cost? Average homeowners insurance cost by ZIP code in 2024 What is dwelling coverage and how much do you need? 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