Is renters insurance required in Minnesota?
The state of Minnesota does not require renters to have a renters insurance policy. Still, some private landlords and rental agencies may require it. Even if you aren't required to have a renters insurance policy, you may want to consider purchasing one to protect your belongings from threats like fire and theft. It also may help pay for alternative housing if you are unable to stay in your residence while it’s being repaired or rebuilt, or you temporarily lose access to your rental due to a covered loss that has caused it to be not suitable for habitation.
Minnesota renters insurance coverages
Check out the four standard coverages on nearly all Minnesota renters insurance policies:
- Personal property protects your personal belongings, including furniture, clothing, and electronics.
- Loss of use helps cover costs associated with an increase in living expenses, up to your policy's limit, if you're unable to stay in your home while it's being repaired or rebuilt due to a covered loss.
- Personal liability protects you financially if you're legally responsible for another person's injuries or damage to their property.
- Medical payments to others pays for medical expenses due to a covered occurrence.
For tenants renting apartments, condos, or homes, the best renters insurance in Minnesota is always a policy with customized coverage limits. Here are some extra options for when you need more protection:
- Certain valuable items, like jewelry, art, and collectibles, may have specific limits on your renters policy. If your items exceed the limit, you may be able to purchase an endorsement for your policy, also known as "adding a rider," to cover the item for its value.
- Personal injury: May pay for legal fees and damages if you’re liable for slander or defamation.
- Water backup: Water that backs up through sewers or drains or discharges from a sump pump may not be covered by your standard renters policy. Water backup coverage may pay for the damage to your belongings and water removal costs.
Learn more about renters insurance coverages.
Common claims in Minnesota
Minnesota has an average of 29 tornadoes per year, and heavy snowfalls in winter can also cause further damage to homes and apartments. If a covered peril damages your belongings, your Minnesota renters insurance policy may pay for damages up to your policy's limits and minus your deductible.
Flooding is relatively common in Minnesota. Rental homes and apartments near large bodies of water like the Mississippi River or Lake Superior may be at risk from high water levels. Typically, a renters insurance policy doesn't cover damage from flooding. However, you may be able to purchase a separate flood insurance policy that may protect your belongings against flood damage.
Discounts on Minnesota renters insurance
Progressive offers several discounts to help lower the cost of renters policies in Minnesota, such as:
- Quote in advance
- Pay in full
- Secured/gated community
See more of our available renters insurance discounts.
How much is renters insurance in MN?
You can buy Minnesota renters insurance for less than $1/day.* However, many components influence the cost of renters insurance in Minnesota, including your location and coverage limits. Learn more about renters insurance cost.