Average renters insurance cost in Minnesota

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Renters in Minnesota pay an average of $218 annually – or $18 per month – for a policy with $40,000 in personal property coverage, $300,000 in liability protection, and a $1,000 deductible. For most renters, this is a practical benchmark to start from.

Your actual premium is shaped by the amount of coverage you select, the insurer you go with, and individual factors such as your ZIP code, claims history, and depending on your state – your 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?

At the standard coverage level – $40,000 in personal property, $300,000 in liability, and a $1,000 deductible – renters insurance in Minnesota averages $218 per year.

If you reduce your personal property coverage to $20,000, that average drops to around $164 annually. Before making that adjustment, it’s worth confirming that $20,000 would genuinely cover the cost of replacing your belongings.

The table below compares average annual renters insurance costs in Minnesota at both the $20,000 and $40,000 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?

Coverage needs vary from person to person, but a common starting range is $20,000 to $40,000 in personal property protection and at least $300,000 in liability coverage. The right amount ultimately comes down to the value of what you own, whether any of your items warrant separate endorsements, and how much of a financial cushion you want between you and an unexpected loss.

Renters insurance rates in Minnesota by city

See rates in your city

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.

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 most renters in Minnesota, a renters insurance policy protects your belongings from risks like fire, theft, vandalism, and certain weather events, and shields you from liability if someone is injured inside your home.

According to figures from the US Department of Commerce, the US Census Bureau, and the American Community Survey, approximately 48% of US renter households allocate more than 30% of their income toward rent and utilities. When housing already takes up a large share of your budget, it’s worth being thoughtful about every ongoing cost – including insurance.

Shopping around makes a real difference. Beyond price, look at what each policy actually covers, what the deductible is, and how the insurer performs when claims are filed. Slightly higher premiums can be worthwhile if the coverage is meaningfully better.

Frequently asked questions

What does renters insurance actually cover?

Renters insurance generally covers three things: your personal belongings, liability protection, and additional living expenses if your home becomes uninhabitable after a covered event. It can help with losses from fire, theft, and vandalism, as well as legal or medical costs if a visitor is injured on your property. Coverage specifics differ by policy, so reviewing your limits and exclusions carefully is important.

Do I really need renters insurance in Minnesota?

There’s no universal legal requirement for renters insurance, but the protection it offers is hard to replicate on your own. A single incident – whether it’s a break-in, a fire, or accidental damage – can result in thousands of dollars in losses. Renters insurance covers those costs so you’re not paying out of pocket. It’s also increasingly common for landlords in Minnesota to require it as part of the lease agreement.

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.