Minnesota Renters Insurance

Average Renters Insurance Cost in Minnesota

Renters in Minnesota pay an estimated $138 per year ($12/month) for a standard policy, based on 2026 industry average data.

Renters Insurance Rates by City in Minnesota

What Makes Minnesota Renters Insurance Unique

Minnesota sees significant hailstorm activity in summer, which is one of the more common reasons renters file a personal property claim in the state.

Risk Factors Specific to Minnesota

Underwriters in Minnesota weigh hailstorm and severe convective storm damage more heavily than in lower-risk states when pricing renters policies.

Renters Insurance Compared With Rent in Minnesota

The median gross rent in Minnesota was $1,291 a month in 2024 (U.S. Census Bureau, American Community Survey), 13% below the national median of $1,487. Against that, our estimated renters premium of $138 a year — about $12 a month — equals roughly 11% of one month’s rent for a full year of coverage, below the middle share among the 50 states in our estimates.

The Coverage Detail That Matters Most in Minnesota

In Minnesota, hail and windstorm are covered perils on standard renters policies, so belongings damaged when hail breaks windows are covered, subject to your deductible. Your car is not covered by renters insurance — hail damage to vehicles is a comprehensive auto claim.

Frequently Asked Questions

Is renters insurance required in Minnesota?

No. No U.S. state, including Minnesota, legally requires tenants to carry renters insurance. That said, individual landlords and property management companies in Minnesota can — and often do — require proof of a policy as a lease condition, especially for larger apartment complexes.

How much does renters insurance cost in Minnesota?

Renters in Minnesota pay an estimated $138 per year ($12/month) for a standard policy, based on 2026 industry average data. Actual premiums vary based on coverage limits, deductible, credit history (where allowed), claims history, and the specific building or neighborhood.

Can insurers use your credit score to set renters insurance rates in Minnesota?

Yes. Minnesota allows insurers to factor in your credit-based insurance score when calculating renters insurance premiums, alongside coverage limits, claims history, and location. Renters with stronger credit typically qualify for lower rates from most carriers.

What's the biggest renters insurance risk factor in Minnesota?

In Minnesota, hail damage is the leading risk factor. Standard renters policies do cover hail damage to personal property, though it's worth confirming your policy doesn't cap claims for high-value electronics lower than their replacement cost.

How much is renters insurance compared with rent in Minnesota?

With a median rent of $1,291 a month (2024) and an estimated premium of $138 a year, a full year of renters insurance in Minnesota costs roughly 11% of one month's rent.

*No U.S. state legally mandates renters insurance, though individual landlords may require it as a lease condition. The information on this page is provided for general informational purposes only and reflects estimated industry averages as of 2026. Insurance rates change periodically; always verify current pricing with a licensed insurance professional. City-level and statewide premiums shown are approximations — individual rates will vary based on personal factors.