Average renters insurance cost in Minnesota

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Renters insurance in Minnesota costs an average of $218 per year, or $18 per month. That’s for a standard policy with $40,000 in personal property coverage, $300,000 in liability protection, and a $1,000 deductible – a solid starting point for most renters.

Your actual rate depends on how much coverage you choose, which insurance company you go with, and personal factors like your ZIP code, claims history, and in some states, credit score

How much does renters insurance cost in Minnesota?

At $18 per month, renters insurance in Minnesota is based on a policy with $40,000 in personal property coverage and $300,000 in liability protection. Your premium will shift depending on your location, the coverage limits you set, and the total worth of your possessions. Shopping around and comparing quotes from different insurers is one of the most effective ways to keep costs manageable.

It’s worth remembering that a higher deductible might reduce your monthly premium, while broader coverage for valuables such as electronics or jewelry will increase it. Choose a deductible and coverage level that fits both your budget and replacement needs.

Renters insurance in Minnesota: Where to start

On average, renters insurance in Minnesota costs $218 per year, or $18 per month
Among all providers in Minnesota, Auto Club Group – ACG (AAA) consistently comes in with the lowest average rates – around $116 per year
Because premiums can vary significantly from one insurer to the next, comparing multiple quotes before settling on a policy is always a good idea

Which companies offer the cheapest renters insurance in Minnesota?

The most affordable renters insurance in Minnesota comes from Auto Club Group – ACG (AAA), which averages $116 per year. State Farm and Secura Insurance are also competitive options for budget-conscious renters.

Keep in mind that the cheapest policy isn’t always the right one – coverage limits, deductibles, and available discounts all matter. The table below compares average annual and monthly rates from leading insurers in Minnesota.

Company	Average annual rate	Average monthly rate
Auto Club Group – ACG (AAA)	$116	$10
State Farm	$145	$12
Secura Insurance	$168	$14
Allstate	$174	$15
Auto-Owners	$205	$17
North Star Mutual	$229	$19
American Family	$292	$24
Farmers	$312	$26
Country Financial	$319	$27

Want a more accurate renters insurance estimate?

Use our calculator to get a personalized renters insurance quote based on your location and coverage needs.

Your final premium may vary depending on the insurer, coverage limits, deductible, claims history and other rating factors.

Renters insurance calculator in Minnesota

$210/year

Estimated renters insurance rates in Minnesota

$18

Monthly renters insurance cost in Minnesota

-22%

Compared to national average

How much does renters insurance cost by coverage level in Minnesota?

The average annual renters insurance premium in Minnesota is $218, based on $40,000 in personal property coverage, $300,000 in liability, and a $1,000 deductible.

Dropping your personal property coverage from $40,000 to $20,000 could bring your annual cost down to around $164. Just make sure $20,000 would actually be enough to replace what you own before making that change.

The table below shows average annual premiums in Minnesota at both the $20,000 and $40,000 personal property coverage levels.

Coverage level	Average annual renters insurance rate	Average monthly renters insurance rate
$20,000 with $500 Deductible and $100,000 Liability	$170	$14
$20,000 with $500 Deductible and $300,000 Liability	$177	$15
$20,000 with $1,000 Deductible and $100,000 Liability	$157	$13
$20,000 with $1,000 Deductible and $300,000 Liability	$164	$14
$40,000 with $500 Deductible and $100,000 Liability	$229	$19
$40,000 with $500 Deductible and $300,000 Liability	$237	$20
$40,000 with $1,000 Deductible and $100,000 Liability	$210	$18
$40,000 with $1,000 Deductible and $300,000 Liability	$218	$18
$60,000 with $500 Deductible and $100,000 Liability	$288	$24
$60,000 with $500 Deductible and $300,000 Liability	$296	$25
$60,000 with $1,000 Deductible and $100,000 Liability	$264	$22
$60,000 with $1,000 Deductible and $300,000 Liability	$272	$23

People also ask: How much renters insurance coverage do I need?

The right amount of coverage depends on the value of your belongings and how much financial risk you’re willing to take on. Most renters do well with $20,000 to $40,000 in personal property coverage and at least $300,000 in liability protection. If you own high-value items like jewelry or electronics, you may want to add endorsements on top of your base policy.

How much does renters insurance cost by city in Minnesota?

Renters insurance premiums can differ depending on where in Minnesota you live. Factors like local crime rates, weather patterns, and the density of the area all play a part in what insurers charge.

Here’s how average renters insurance rates compare across major cities.

Renters insurance rates in Minnesota by city

See rates in your city

Does your ZIP code affect renters insurance rates in Minnesota?

Your ZIP code is one of the biggest factors insurers use to set rates. Local risks like theft, fire and weather claims can drive premiums up or down, so two renters with the same coverage may pay very different prices.

In Minnesota, rates range from about $200 in 56325 to $248 in 55439. Here are the cheapest and most expensive ZIP codes for renters insurance in Minnesota.

Why your ZIP code affects renters insurance costs

Insurers use local risk data to calculate renters insurance premiums, which means rates can vary significantly by neighborhood and ZIP code.

Factors that affect renters insurance rates include:

Local theft and vandalism rates
Weather risks such as hurricanes, floods, or wildfires
Fire claims and rebuilding costs in your area

Even moving a few ZIP codes away can affect your monthly premium.

What are the most affordable ZIP codes for renters insurance in Minnesota?

In Minnesota, your ZIP code plays a major role in determining your premiums. Based on our data, 56325 is the most affordable ZIP code for renters insurance, with an average annual cost of $200.

ZIP codes with lower theft rates and fewer severe weather claims tend to have more affordable renters insurance premiums.

ZIP code	City	Average annual rate	Average monthly rate
56325	Elrosa	$200	$17
56352	Melrose	$200	$17
56316	Brooten	$201	$17
56378	Sauk Centre	$201	$17
56312	Belgrade	$202	$17
56520	Breckenridge	$202	$17
56529	Dilworth	$202	$17
56446	Eagle Bend	$202	$17
55335	Gibbon	$202	$17
56549	Hawley	$202	$17

What are the least affordable ZIP codes for renters insurance in Minnesota?

55439 is the most expensive ZIP code for renters insurance in Minnesota, at an average cost of $248 annually or $21 monthly.

Here are the average annual renters insurance rates for every ZIP code in Minnesota, based on quotes from major insurers.

ZIP code	City	Average annual rate	Average monthly rate
55439	Edina	$248	$21
55455	Minneapolis	$248	$21
55416	St. Louis Park	$248	$21
55438	Bloomington	$246	$20
55430	Brooklyn Center	$246	$20
55445	Brooklyn Park	$246	$20
55427	Golden Valley	$246	$20
55428	New Hope	$246	$20
55447	Plymouth	$246	$20
55423	Richfield	$246	$20

How to lower your renters insurance, even in a high-cost ZIP code

Compare at least 3 quotes – rates for the same coverage can vary by $100+ between insurers in the same ZIP code
Bundle with auto insurance to save 5% to 15% on your renters policy
Ask about safety device discounts for smoke detectors, deadbolts, security systems, and smart-home monitoring
Raise your deductible from $500 to $1,000 to save around 10%
Check claims-free discounts if you haven’t filed a claim in 3+ years

Is renters insurance worth it in Minnesota?

For the vast majority of renters in Minnesota, a renters insurance policy is a smart financial decision. It covers your personal belongings against fire, theft, vandalism, and certain disasters, and provides liability protection if a guest is injured in your home.

Data from the US Department of Commerce, US Census Bureau, and American Community Survey shows that roughly 48% of renter households in the US spend more than 30% of their income on housing costs – which means every recurring expense, including insurance, deserves careful consideration.

The best approach is to compare policies rather than just prices. Coverage quality, deductibles, and customer service all factor into whether a policy is actually good value. Paying a little more for stronger coverage often makes sense when it’s time to file a claim.

Frequently asked questions

What does renters insurance actually cover?

A standard renters insurance policy covers personal belongings, liability, and additional living expenses if your rental becomes unlivable. It protects against losses from events like fire, theft, and vandalism, and can cover legal or medical costs if someone is hurt on your property. Always check the specific limits and exclusions in any policy you’re considering.

Do I really need renters insurance in Minnesota?

While renters insurance isn’t legally required in most cases, it provides real financial protection that’s hard to replicate otherwise. Even a basic policy can cover thousands of dollars in losses from theft, fire, or accidental damage – costs that would otherwise come straight out of pocket. Many landlords in Minnesota also make renters insurance a condition of the lease.

Sources:

Insurance Information Institute. Facts + statistics: Renters insurance. Accessed May 2026.

How much is renters insurance in other states

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Alisha Ambre

Alisha Ambre holds a Bachelor of Arts with honours in English Literature and Media Studies. She focuses on crafting clear, engaging content that makes complex information feel practical and approachable for everyday readers. When she’s not writing, she’s likely on the volleyball court or immersed in a good video game.