Home insurance keeps you, your home, and your belongings safe from expensive damages. What policy should you look for in Minnesota?
How to Compare Home Insurance
First, as you look at local options, know what you should look for in an insurance policy. There’s a few things to keep in mind.
First, the price of your home will play a factor in which policy you choose. You’ll need more coverage for the building itself and your belongings. Older homes will also cost more to insure than newer homes due to the chance for more expensive repairs.
Be sure you know the risks that your area poses to your house. Minnesota faces common natural disasters like floods, severe storms, tornados, and wildfires. Keep in mind, however, that coverage for such events may not come standard in a home insurance policy. Floods need separate coverage, but damage from storms, tornados, and wildfires are typically covered.
Home insurance will almost always cover theft and fire. Most policies also cover these categories, but not for damages due to natural wear-and-tear:
- Roof leaks and replacement
- Water damage
- Plumbing issues
- Dog bites
- Tree removal
- Foundation repair
The Best Home Insurance Companies in Minnesota
With all of these factors in mind, here are the average annual costs (based on a $250k house) of some of the best home insurance companies and policies in Minnesota:
- Allstate: $2,740
- Auto-Owners: $982
- Chubb: $1,976
- North Star Mutual: $1,043
- State Farm: $2,042
The Best Home Coverage in Minnesota
There are many things to consider with this list. If price is a concern, even the more expensive policies from Allstate or State Farm offer discounts for a lower price. For instance, you should get a lower quote if you have a home security system. And, a lower-cost policy from Auto-Owners is still high-quality, with discounts to lower the cost even more.
You can also consider additional coverage these policies may offer outside the standard benefits. North Star Insurance is a smaller company familiar with the needs of Minnesota residents and offers benefits like refrigerated food products coverage, farm liability coverage, and water backup coverage.
There are plenty of factors to consider when deciding on the best home insurance in Minnesota. But, a great place to start is with a quote — that way, you can compare your options and make a more informed decision to get your first policy or enroll in a better one.
Compare Your Best Options with All Things Insurance
We’ll do the comparison for you, finding you the home insurance you need for Minnesota living. To learn more, call All Things Insurance at (763) 645-5450.