Minneapolis, MN Renters Insurance

Renters insurance in Minneapolis, Minnesota


Renters insurance is important if you're renting a house or an apartment. It covers your rental unit — and the personal property within it — against a variety of harms, including wind, theft, fire, or vandalism. Since these occurrences are fairly common, the affordable price of a renters policy, and the potentially high cost of replacing your belongings, a renters insurance policy is a solid investment.

The cost of renters insurance comes down to a variety of factors, including the age of your dwelling, the materials of which it’s made, your apartment’s geographic location, and the pricing strategies of your renters insurance company. In areas prone to hail, fire, lightning, or damaging wind, renters insurance could be more expensive to account for the extra risk.

The average yearly cost of renters insurance in Minneapolis is $183.

Getting affordable renters insurance in Minneapolis should start with a thorough review of the top renters insurance companies. Review our list of average Minneapolis renters insurance rates to ensure you start your search with as much background info as possible. Remember: rates will vary based on your coverage limits and other factors.


Jump to:

  1. Rates by company
  2. Rates by coverage level
  3. Bundling discounts

Popular renters insurance companies in Minneapolis

Renters insurance rates in Minneapolis, Minnesota depend on the insurance company providing the quote. For instance, State Farm offers the cheapest renters insurance in Minneapolis, at just $114 per year. This compares favorably to the city's average cost of $183, providing a $69 discount on typical rates in the city.

Start your search for a renters insurance policy by reviewing the cheapest companies in Minneapolis.


AFFORDABLE RENTERS INSURANCE COMPANIES IN MINNEAPOLIS
CompanyAverage Annual Rate in Minneapolis
State Farm$114
American Family$116
AAA$125
Travelers$135
Safeco$140

Minneapolis renters insurance pricing by coverage tier

Your renters insurance rates will vary depending on the amount of coverage you purchase. Two of the most common levels of renters insurance coverage are $25,000 and $50,000. In Minneapolis, the difference in annual premium between these two tiers is approximately $63. If you can afford to insure your personal property at this additional expense, it's worth considering.

Coverage LevelAverage Annual Rate in Minneapolis
$25K Property$151
$50K Property$214

Tip: bundle your auto and renters insurance policies in Minneapolis

If you’re looking to save, consider carrying your renters and auto policies under the same insurance company. Combining renters and auto insurance in Minneapolis can save you a substantial sum each month on your auto insurance bill. In fact, bundling renters and auto insurance leads to average savings of 14.5% on car insurance premiums. The car insurance company with the cheapest bundled rate is American Family, followed by State Farm and AAA.


CAR AND RENTERS BUNDLING DISCOUNTS IN MINNEAPOLIS
Annual Bundle SavingsBundle Savings %
$20814.5%


Need renters insurance? Talk to an expert today.

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Ross MartinManager, Content Quality

Ross joined The Zebra as a writer and researcher in 2019. As a licensed insurance agent, he specializes in writing insurance content to help shoppers make informed decisions.

Ross holds a master's degree from Royal Holloway, University of London and has a background in copywriting and education. As a former teacher, he applies his educational skills to explain insurance concepts in ways that consumers can understand.

Ross's work has been cited by The New York Times, AxiosInvestopedia, The Simple DollarThe BalanceCar and Driver and Fox Business. He has been quoted by CNET, I Drive Safely and Kin Insurance