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Minnesota Home Insurance

Minnesota home insurance provides the necessary property damage protection for your home. When you purchase your home using mortgage lender’s assistance, they require you to carry Minnesota home insurance for the duration of your loan. For this reason, it is important to know your options before buying your Minnesota home insurance.

Minnesota Home Insurance Policies

The most basic policy, known as HO-2 policy, covers damages caused by the following perils: fire, smoke, hail, wind, falling objects, theft, vandalism, vehicles, aircraft, frozen pipes, a sudden cracking, and overflowing steam from air conditioners and water heaters. The more popular HO-3 policy offers bodily injury liability protection, in case someone has an accident on your property.

Minnesota Home Insurance Rates

The Minnesota home owners insurance rates are relatively low as compared to the rest of the country. When you are insuring your home, you must be aware that flood damage will not be covered by your Minnesota home insurance. A homeowner has to buy additional flood insurance to cover these damages. In the “Land of Lakes,” homeowners regularly buy this added insurance.

The relatively low Minnesota home rates are due to the lack of perils in the state. Another factor for low rates could be the lower home values, decreased criminal activities in major cities, and less claims throughout the region. All of these things equal savings to the homeowner.

Saving Money

Even though the rates are relatively inexpensive as compared to the rest of the country, many seek to reduce their Minnesota home insurance premiums. There are some fundamental improvements you can do to your home to decrease your premium rate. For instance, heavy snow can burden roofs and cause damage, so reinforcing your roof can shave dollars off your premium when you notify your insurance provider of the improvement. In addition, many find that by buying both their home and auto insurance through the same provider they receive a discount. Other discounts can be handed out for improvements in home security and fire safety. If you do some basic home improvements, you can reduce your Minnesota home insurance.

Minnesota Department of Commerce

Minnesota Department of Commerce
85 7th Place East, Suite 500
St. Paul, MN 55101
Phone: 651-296-4026


For other Minnesota Insurance Resources, See:


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