GITNUX MARKETDATA REPORT 2024

Statistics About The Average Home Insurance Cost Mn

The average cost of home insurance in Minnesota is approximately $1,400 per year.

Statistic 1

"The average annual home insurance premium in Minnesota is $1,348."

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Statistic 2

"The cheapest city for home insurance in Minnesota is Rochester with an average rate of $1,043 per year."

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Statistic 3

"The most expensive city for home insurance in Minnesota is Minneapolis with an average rate of $1,586 per year."

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Statistic 4

"The average cost of home insurance for a new customer in Minnesota is $1,185."

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Statistic 5

"Minnesota's average dwelling fire insurance premium is $187."

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Statistic 6

"The average cost of flood insurance in Minnesota is around $700 per year."

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Statistic 7

"Home insurance costs in Minnesota rise by an average of 2% after a single claim."

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Statistic 8

"About 95% of Minnesota homeowners have some form of homeowners insurance."

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Statistic 9

"The highest premium rates in Minnesota can reach up to $3,000 per year."

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Statistic 10

"Minnesota homeowners spend around 2.24% of their household income on homeowners insurance."

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Statistic 11

"The average homeowner insurance rate for a house worth between $200,000-$399,999 in Minnesota is $1,750."

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Statistic 12

"On average, home insurance premiums in Minnesota increase by 35% after a single fire claim."

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Statistic 13

"The average homeowners insurance premium in Minnesota increased by 56.3% from 2007 to 2016."

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Statistic 14

"In 2018, 6.9% of Minnesota homeowners reported experiencing water damage, impacting their insurance premiums."

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Statistic 15

"The average home insurance cost for a $150,000 home in Minnesota is $1,150 per year."

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