Who Has the Cheapest Renters Insurance Quotes in Minnesota?

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Ryan Friend

July 30, 2019  •  5 min read

One of the northern states that has a character of its own, Minnesota may be a state filled with lakes and fields, but there are also plenty of cities and towns, including the Twin Cities. These alone are home to many renters, perhaps just like yourself, who may be at risk for break-ins, natural disasters or weather damage, or a fire. While we don’t want those things to happen and you certainly don’t, statistically they will happen to thousands of Minnesota renters each year, so we want you to be prepared by getting renters insurance. To that end, we looked into the cheapest options in the state for you, so you can work on finding a policy today.

Here are the four cheapest renters insurance providers operating in Minnesota:

The Four Cheapest Quotes:

While the average rates here all look pretty great for most people, we would like to place a reminder here that your annual rate and general customer experience might be slightly different from what you read here. That being said, we’re confident you can use the following information as a general guide.

The number listed next to each provider is the average annual rate for a standard policy.

1) Farmers: $142

For most people the cheapest provider operating in Minnesota, Farmers not only will provide you with great coverage for a low price but will also provide you with a great customer service experience during the process. You will be able to adjust your coverage a bit and even change your deductible to a degree as well, allowing you to adjust the course of your policy in preparation for specific situations (if you know there are specific risks to worry about).

The inexpensive cost may give you pause and wonder what the catch is, and in Farmers’ case, you might want to be careful about the default level of coverage you get, especially for certain categories such as jewelry. Other than this, Farmers will likely be the cheapest and best option for many readers.

You can expect the following working with Farmers:

  • A patient team and a helpful set of resources that will answer any questions you have about renters insurance.
  • Umbrella coverage to help you out in situations outside of a strict renters insurance claim.
  • Customization options that are plentiful considering the price. These include but are not limited to identity theft coverage, pet injury insurance, and liability coverage.

2) Amica: $162 

Another provider that prides itself greatly on its customer service efforts, Amica provides a great general level of service but also wishes to form a long-term relationship with its clients, and it has a retention rate over 90 percent to show for it. At this price (it’s hardly more expensive than Farmers) people who value a lack of frustration will likely see Amica as the best choice if Farmers isn’t what they’re looking for.

You may not find as many customization options with them (whether in terms of optional coverages, a variable deductible, or other ways), but if you don’t need them then Amica might be your best choice. You may also want to watch out for instances of mismanaged information, but these occurrences are very few and far between, and Amica takes charge of those situations.

You can expect the following working with Amica:

  • Plenty of bundling options, regardless of whether you’re looking for car, boat, motorcycle, small business, or another type of insurance plan.
  • A relatively swift and painless claims process.
  • A strong level of emphasis placed on customer satisfaction, which you will feel.

3) Nationwide: $177

Nationwide can also provide you with excellent service at a great average rate, but that isn’t the main focus. Instead, with Nationwide you will have more customization options than with nearly any other provider, and you will also be able to change the level of coverage for certain groups of items, ensuring that there is little waste in your policy.

There aren’t too many concerns we have about Nationwide, but you will want to be careful about the default coverages (as with most providers) and keep your own needs in mind. Additionally, as is common with most providers, your location might make their insurance unacceptably expensive.

You can expect the following working with Nationwide:

  • The ability to customize your deductible, ultimately changing the annual rate you’ll be paying.
  • Bundling opportunities that are both reliable and effective for lowering your total rate.
  • A free annual assessment (which is optional) to help you get the most from them and not waste either your time or your money.

4) Liberty Mutual: $216

The most expensive option on our list, albeit still affordable for most apartments, Liberty Mutual is a great choice if you aren’t sure what to get, or simply want to get a great level of default coverage and then move on quickly. They also provide optional coverages that handle problems relating to jewelry, electronics, water damage, identity theft, and high value items.

We have few negative things to say about Liberty Mutual’s renters insurance, but the masses weren’t so confident in their other insurance offerings, to the degree that we cannot easily recommend you bundle your insurances with them. It might be cheaper, but the service may suffer.

You can expect the following working with Liberty Mutual:

  • Plenty of discount opportunities based around Liberty Mutual’s partnerships with many organizations and workplaces.
  • Great online systems and tools to help you not only communicate faster with the company, but also get a more accurate quote ahead of time.
  • An above-average level of coverage across the board, making them a safe choice.


Like many things in Minnesota, you don’t have to spend too much money to get a quality renters insurance policy. This makes the argument to get one as soon as possible all the stronger, and we hope that you take the time to look further into the companies listed above to find your perfect fit. Your coverage needs will vary based on your apartment and situation, so only you will be able to make a final choice. We hope that the information provided will help you do so, just as we hope that you are able to get this safety net and move onward and upward soon.