Choosing the best renters insurance depends on finding the company that combines affordability, coverage offerings and consistent customer service. To help you find the best provider, we collected quotes from across Minnesota.
Compare cheap renters insurance options near you
The cheapest price we found for renters insurance was about $9 per month, or $104 annually. On average, most companies charged more than this amount for coverage, but each insurer brings different perks besides its price. Below, we identify the cheapest provider and call out the top renters insurance in Minnesota.
Best renters insurance for most people: State Farm
- Lowest renters insurance premiums in Minnesota
- Highly rated customer service
- Offers fewer ways to upgrade your policy
The best renters insurance for most people in Minnesota comes from State Farm. On average, State Farm's rates are far cheaper than its competitors' rates. Typically, State Farm charges only about $9 per month for renters insurance — more than 40% cheaper than the average cost in Minnesota.
State Farm combines affordable prices with dependable customer service. According to data from the National Association of Insurance Commissioners (NAIC), the company's claims department receives few complaints relative to its size. J.D. Power also ranked State Farm's service third among national insurance providers.
While State Farm boasts the cheapest prices in Minnesota, that doesn't mean you'll be sacrificing effective coverage for affordability. You still receive industry-standard protections with State Farm's renters insurance. And while you can't add as many extras as you could with other providers, you can still increase your property and liability protections with State Farm.
Best renters insurance for complete coverage: Travelers
- Wide selection of extra protections available
- Cost aligns with statewide average
- Policyholders can't pay monthly
- Average customer service
Shoppers looking for a provider with ways to upgrade a standard policy should consider Travelers. Of the insurers we surveyed, Travelers has the most varied list of extras. Besides the personal property and liability coverages that most policies include, Travelers also offers:
- Water-backup protection: Covers damage that results from backed-up drains or broken sump pumps.
- Replacement-cost coverage: Replaces the full value of your damaged property without consideration to its depreciation.
- Identity theft protection: Supplies you with identity-monitoring services and recovery assistance if you're the victim of fraud.
- Equipment-breakdown coverage: Shields your property against electronic and mechanical breakdown normally not covered by basic policies.
Purchasing a Travelers renters insurance policy is affordable for most people in Minnesota. At $179 per year, coverage is only slightly more expensive than the statewide average. This equates to about $15 per month, but Travelers doesn't allow its policyholders to make month-by-month payments — a unique quality.
Regard for Travelers' claims service is mixed. Travelers receives fewer complaints for its claims service than its market share would indicate, but its customer service is poorly ranked in J.D. Power's industry study, where Travelers placed 13th out of 14 companies for all aspects of its service.
Best renters insurance for price discounts: Allstate
- Multiple ways to lower your premiums
- Convenient online claims processing
- Receives more complaints than others
While the cost of renters insurance in Minnesota from Allstate is about average, you could save money on your premium by qualifying for the insurer's discounts. Most of the discounts available with Allstate aren't difficult to achieve. You could reduce your cost by:
- Bundling your renters policy with auto insurance
- Signing up for automatic electronic payments
- Living in a home with a security system or other safety features
- Remaining a claim-free policyholder
- Being at least 55 years old and retired
Allstate's online experience rivals any of the other insurance providers we surveyed. You can request a quote using Allstate's quote form, which allows you to customize your protections and automatically searches for discounts you could qualify for. Additionally, you can file and track a claim using Allstate's 24/7 app or website services.
The service provided by Allstate is about average. NAIC data indicates that Allstate receives 25% fewer complaints for its size than expected, but the other companies we surveyed all have a better Complaint Index. On the other hand, J.D. Power rates Allstate's customer service quality sixth in the nation.
How we chose the best renters insurance in MN
We chose the best renters insurance in Minnesota by checking how each company met three criteria. Insurers with better performance in these areas were rated more highly than others.
- Affordability: How much renters can expect to pay for standard protection.
- Coverage options: The effectiveness of an insurer's standard and extra offerings.
- Customer service: The reputation for providing quick, fair service.
Affordability: Comparing the costs of insurance providers in Minnesota
The average cost of renters insurance in Minnesota is about $15 per month, or $175 per year. Compared to renters in the rest of the country, we concluded that Minnesotans tend to see more affordable rates.
State Farm has the cheapest renters insurance in Minnesota, while Farmers charges the highest premiums on average.
How much is renters insurance in MN?
Average cost (per month)
Average cost (per year)
% difference from statewide average
Your premiums depend on a variety of factors, including which company you purchase your renters insurance from, your location, the material your house or apartment is made out of, and your proximity to bodies of water. But no quality influences your policy more directly than the size of your desired coverage levels.
With this in mind, here are the limits we used to generate quotes:
- Personal property coverage: $30,000
- Personal liability $100,000
- Medical payments to others: $1,000
- Deductible: $500
Even if you opt for the same limits as your neighbor, you may receive different quotes. That's because your own claims history influences your insurance rates. Your marital status, living situation and age also contribute to the cost of coverage. Our rates are based on a 30-year-old unmarried man with no insurance history.
Compare cheap renters insurance options near you
Coverage options: Evaluating the range and quality of protections insurers offer
When shopping for renters insurance, you should look for the insurer offering the protections most suited to your property and assets. In the following table, we've presented the range of coverage options available with each insurer. With this table, you can find which provider has the most coverage for the price that suits you.
Personal property coverage
Identity theft protection
|State Farm||$10,000 – more than $100,000||$100,000 – $1 million||X||-||X||-||X|
|Liberty Mutual||$5,000 – $25,000||$100,000 – $1 million||X||-||X||X||X|
|Allstate||$15,000 – more than $100,000||$100,000 – $500,000||-||-||X||-||-|
|Travelers||$30,000 – more than 100,000||$100,000 – $500,000||X||X||X||X||X|
|Farmers||$4,000 – $150,000||$100,000 – $1 million||-||-||X||X||-|
Customer service: Assessing the dependability of an insurer for its policyholders
To find which renters insurance provider in Minnesota has the most well-regarded customer service, we compared three metrics for the state's largest insurers: the NAIC's Complaint Index, J.D. Power's Homeowners Insurance Study - Renters Insurance and A.M. Best's Financial Strength Rating (FSR).
NAIC Complaint Index
J.D. Power score (out of 14)
A.M. Best FSR
|Auto-Owners Insurance Co.||0.25||Not rated||A++|
|Auto Club Group||1.01||Not rated||A-|
|North Star||0.39||Not rated||A+|
NAIC Complaint Index: The Complaint Index expresses the number of complaints an insurer receives relative to its size. The NAIC represents a typical number of complaints with the benchmark 1.0. If an insurer has a Complaint Index of 1.50, that insurer receives 50% more complaints than its size indicates.
J.D. Power Homeowners Insurance Study - Renters Insurance: J.D. Power evaluated the service found at 14 of the country's largest renters insurance providers, along with price and policy offerings. Then, J.D. Power used a cumulative satisfaction number to rank companies from best to worst.
A.M. Best Financial Strength Rating: You can get a sense of a provider's financial strength by consulting A.M. Best's evaluations, which are represented by conventional letter grades. You can recognize risky companies easily, as the majority of insurers score well.
Minnesota renters insurance rates: City-by-city breakdowns
As we collected rate information on the best renters insurance in Minnesota, we calculated the typical cost of coverage in the state's largest cities. Below, we've tabulated our findings and displayed each rate alongside its relationship to Minnesota's average cost of coverage.
On average, renters insurance is cheapest in Moorhead, MN, while it's most expensive in Hopkins.
Average cost (by month)
Average cost (yearly)
% difference from MN average
We accumulated 125 quotes from across Minnesota using a sample profile. It was based on a 30-year-old unmarried male renter with no prior history of having insurance or making claims. We collected quotes for $30,000 of personal property coverage, $100,000 of liability and $1,000 of medical payments to others.