Who Has The Cheapest Renters Insurance Quotes in Minnesota?

We assessed renters insurance quotes in 109 cities in Minnesota to determine which cities had the cheapest annual renters insurance costs. Minnesota renters pay an average of $174 per year for their renters insurance based on our sample policy. Minneapolis, the most populous city in Minnesota, ranked as the sixth most expensive city in the state. Below, we profile the least and most expensive cities for renters insurance in Minnesota. Read more about the findings from our study, or use our quote tool above to find renters insurance quotes in your area.

Cheapest Renters Insurance Companies in Minnesota

We gathered rates for our sample residence across 109 cities from Liberty Mutual, Farmers, Amica and Nationwide. Quotes from each company were averaged to find which insurer had the best renters insurance rates in Minnesota. Out of the four insurers in our study, Farmers had the cheapest renters insurance quotes. The graph below shows the average cost per year to insure our sample residence by company alongside the state average:

Best Renters Insurance Companies in Minnesota

Top 5 Least Expensive Cities for Renters Insurance in Minnesota

1. Park Rapids, MN

Park Rapids is a small city located towards the northern part of Minnesota. It is the county seat of Hubbard County and was named by Frank C. Rice. Mud lake runs through the north part of the city and flows into Fishhook Lake. The city is near Itasca State Park, which is the source of the Mississippi River and the beginning of the Heartland State Trail.

According to our study, Park Rapids is the cheapest city for renters insurance out of the 109 cities in our study. Residents pay an average annual cost of $164 for renters insurance, which is 6% less than the average in Minnesota. The lowest rates were offered by Farmers, the state's cheapest insurer, at an annual cost of $125. Liberty Mutual offered the most expensive rate of $207 per year, which is $33 more than the state average.

Cheapest and Best Renters Insurance Companies in Minnesota

2. Austin, MN

Austin is located in the south of Minnesota. It is the county seat of Mower County and was named after the first settler in the area, Austin R. Nichols. The city is sometimes referred to as 'SPAM Town USA' because it is home to Hormel Foods Corporation's headquarters. Hormel is a factory that produces most of the country's SPAM tinned meat.

The city of Austin has the second most affordable renters insurance rates in Minnesota. We found that the average rate per year for renters insurance was $165, which is $1 more than the cheapest city, Park Rapids. Farmers offered the best quote of $125. And Liberty Mutual provided the most expensive rate of $212, which is $87 more than Farmers rate.

Best Renters Insurance Rates in Austin

3. Winona, MN

Winona is located at the border of Minnesota. The area started as a Native American village named Keoxa until non-Native Americans settled in the city around 1851. It lies on the Mississippi River, across from Wisconsin. The most notable landmark in the city is Sugar Loaf, a bluff on the Mississippi River overlooking the city, topped by a rock pinnacle.

Winona ranks as the third cheapest city for renters insurance in Minnesota. On average, residents of Winona pay $165 per year for renters insurance. This represents a rate that is $9 less than the mean in Minnesota. Nationwide and Amica both offered annual renters insurance quotes of $162. Farmers quoted the lowest rate of $125 per year, which is $37 less than Farmers and Nationwide.

Best Renters Insurance Companies in Winona

4. New Ulm, MN

New Ulm lies along the Minnesota River, towards the south of the state. The second oldest family-owned brewing company is located in the city and is the largest brewery in Minnesota. New Ulm is also home to the Minnesota Music Hall of Fame, Martin Luther College, the Hermann Heights Monument and Flandrau State Park.

New Ulm has the fourth most affordable renters insurance in Minnesota. The average cost of renters insurance in the city is $166, which is $1 more than the averages from the cities of Austin and Winona. If you're looking for low cost renters insurance, Farmers quoted the lowest rate for the city of $125. Amica offered a renters insurance quote of $162, which is $12 less than the state average.

Best Cheap Renters Insurance Companies in New Ulm

5. Slayton, MN

Slayton is a small city located in Murray County. It was named after Charles W. Slayton, who platted the city in 1882. The elevation is around 1,600 feet above sea level and the city has a total area of approximately two square miles. Slayton has less than 3,000 in habitants but gained the county seat of Murray County in 1889.

The city of Slayton ranked as having the fifth lowest average renters insurance in the state of Minnesota. Residents pay an annual average rate of $166, which is the same rate as New Ulm. It is 5% less than the state average, which represents a $9 savings. Farmers offered the cheapest annual renters insurance quote for the city of $127. Liberty Mutual had the most expensive rate of $212, which is $50 more than the second highest rate for the city.

Renters Insurance Rates in Slayton

Top 5 Most Expensive Cities for Renters Insurance in Minnesota

1. Annandale, MN

Annandale is known as 'The Heart of Lakes' because there are 26 lakes within a 10-mile radius of the city. It was platted in 1886 and was named after Annan, Scotland. The Thayer Hotel in Annandale is listed on the National Register of Historic places and a post office has been operating in the city since 1887.

Residents of Annandale pay the highest annual renters insurance at an average of $204, which is 17% more expensive than the state average. The highest rate was offered by Liberty Mutual at an annual cost of $310. Amica and Farmers offered the lowest rates of $162, which is almost twice Liberty Mutual's rate and $127 more than the second most expensive rate in Annandale.

Best Renters Insurance Companies in Annandale

2. Chanhassen, MN

The city of Chanhassen is a part of two counties, Carver and Hennepin, in the state of Minnesota. It is located towards the southeastern part of the state and is southwest of the largest city in the state, Minneapolis. There are twelve lakes located within the city limits including Lotus Lake, Lake Riley and Lake Ann.

Chanhassen is the second least affordable city for renters insurance in Minnesota. The average renters insurance cost in the city is $200, which is 15% more than the state's average. The best renters insurance rate in the city was offered by Farmers at an annual cost of $139. The most expensive renters insurance policy was quoted by Liberty Mutual at $318, which is $144 greater than Minnesota's average rate.

Renters Insurance Rates in Chanhassen

3. Eden Prairie, MN

Eden Prairie is the 12th most populous city in Minnesota and is a suburb of the twin cities, Minneapolis–Saint Paul. It is approximately 18 miles southwest of Minneapolis and 28 miles from the city of Saint Paul. The city is located along the Minnesota River and near many small lakes in the state.

Eden Prairie is the third most expensive city for renters insurance in the state with a rate of $199 per year. On average, residents pay 14% more than the state mean. The best quote was offered by Amica, the second cheapest insurer in the state, at a rate of $162 per year. Liberty Mutual provided the highest quote of $275, which is $113 more than Amica's quote and $101 more than the state mean.

Quotes from Eden Prairie's Best Renters Insurance Companies

4. Grand Marais, MN

Grand Marais is a small city that is located in the northeast of Minnesota, near the border of Canada. It runs along the North Shore of Lake Superior and has a population of less than 2,000 inhabitants. The area used to be a fur trading station and is a gateway to the Boundary Waters Canoe Area Wilderness, which was used as a footpath for fur traders from inland lakes to Lake Superior.

According to our study, Grand Marais ranked as the fourth least affordable city for renters insurance in the state of Minnesota. It has an average renters insurance cost of $193. The cheapest policy in the city of Grand Marais was offered by Farmers at an annual rate of $161. Amica quoted a rate of $162, which is only $1 more than Farmers' rate. Liberty Mutual had the highest quote for the city of $246 per year.

Best Renters Insurance Companies in Grand Marais

5. Burnsville, MN

The city of Burnsville is located 15 miles from downtown Minneapolis, in the eastern section of the state. It lies on the Minnesota River which flows into the Mississippi River. The Burnsville Transit Station is the headquarters of the Minnesota Valley Transit Authority and provides regional bus service to the other suburbs of Minneapolis–Saint Paul.

Burnsville had the fifth least affordable rates for renters insurance in Minnesota. Amica quoted the lowest renters insurance rate in Burnsville at $162 annually, which is $12 less than the state mean. Liberty Mutual quoted the most expensive rate of $217 per year and Farmers, the most affordable insurer in the state, offered the second most expensive rate of $189. Residents pay an average of $188 for renters insurance per year.

Best Renters Insurance Companies in Burnsville

Methodology

We evaluated 109 cities, throughout Minnesota to determine which cities had the cheapest renters insurance in the state. The sample renters insurance policy we collected quotes for included $30,000 of coverage. Rates were collected from Liberty Mutual, Farmers, Amica and Nationwide insurance companies. The quotes were then averaged to arrive at a mean value for each city. For an alphabetical list of all the cities included in the comparison analysis, please see below. Each city is listed with the average cost of insurance per year for our benchmark policy and how much each city costs relative to the statewide mean.

RankCityAverage Insurance RateCost Compared to Average
8Aitkin$167-4%
84Albany1772%
17Albert Lea169-3%
100Alexandria1856%
109Annandale20417%
99Anoka1835%
2Austin165-5%
13Bemidji169-3%
34Benson170-2%
72Blaine1750%
96Bloomington1824%
7Brainerd166-5%
86Brooklyn Park1782%
97Buffalo1825%
105Burnsville1888%
65Caledonia1740%
78Cambridge1761%
98Cannon Falls1835%
108Chanhassen20015%
95Chaska1814%
73Clarissa1751%
89Cloquet1793%
90Cokato1793%
83Coon Rapids1772%
69Cottage Grove1750%
13Crookston169-3%
92Duluth1814%
107Eden Prairie19914%
85Elbow Lake1782%
94Ely1814%
49Fairmont172-1%
19Faribault169-3%
38Fergus Falls170-2%
51Forest Lake172-1%
13Frazee169-3%
24Fulda169-3%
77Glencoe1761%
36Glenwood170-2%
106Grand Marais19311%
67Grand Rapids1750%
30Granite Falls170-3%
88Hastings1793%
68Hibbing1750%
34Howard Lake170-2%
102Hutchinson1867%
66International Falls1740%
23Jackson169-3%
60Jordan1740%
33La Crescent170-3%
54Litchfield172-1%
81Little Falls1761%
87Long Prairie1793%
18Luverne169-3%
26Mankato169-3%
44Marshall171-2%
21Melrose169-3%
58Milaca173-1%
104Minneapolis1867%
64Minneota1740%
30Montevideo170-3%
43Moose Lake170-2%
52Mora172-1%
9Mountain Lake167-4%
59New Prague173-1%
4New Ulm166-5%
103New York Mills1867%
50North Branch172-1%
36Ortonville170-2%
91Osseo1803%
29Owatonna170-3%
1Park Rapids164-6%
38Parkers Prairie170-2%
46Paynesville171-2%
38Perham170-2%
62Pine City1740%
20Pipestone169-3%
10Preston167-4%
74Princeton1751%
75Prior Lake1751%
12Red Wing168-4%
11Rochester167-4%
82Saint Cloud1771%
27Saint James169-3%
101Saint Paul1856%
28Sauk Centre169-3%
80Savage1761%
56Shakopee173-1%
5Slayton166-5%
22Sleepy Eye169-3%
38Staples170-2%
61Stillwater1740%
13Thief River Falls169-3%
70Tower1750%
57Tracy173-1%
76Two Harbors1761%
63Tyler1740%
47Victoria172-2%
71Virginia1750%
79Waconia1761%
38Wadena170-2%
6Walker166-5%
93Wayzata1814%
45White Bear Lake171-2%
30Willmar170-3%
55Windom173-1%
3Winona165-5%
53Winsted172-1%
48Woodbury172-1%
24Worthington169-3%

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