Insurance Costs in Minneapolis, MN
Auto insurance in Minneapolis averages $1,795 per year for full coverage, which is higher than the national average. Here is a detailed breakdown of what residents pay.
Updated July 2026Auto Insurance in Minneapolis, MN: What You Need to Know
Minneapolis residents pay an average of $1,795 per year for full coverage auto insurance, which is 18.0% above the Minnesota state average and 7.2% above the national average.
With a population of 429,606, Minneapolis is one of the largest cities in Minnesota. Higher population density, more traffic congestion, and increased accident risk all contribute to above-average insurance rates.
Coverage Level Comparison
| Coverage Type | Annual Cost | Monthly Cost |
|---|---|---|
| Full Coverage (100/300/100) | $1,795 | $150 |
| Standard Coverage (50/100/50) | $1,472 | $123 |
| State Minimum (30/60/10) | $754 | $63 |
Homeowners Insurance in Minneapolis, MN
The average cost of homeowners insurance in Minneapolis is $2,002 per year ($167/month), which is 10.0% above the national average.
Home insurance costs are influenced by local factors including weather risks (hail, wind, flooding), property values, local building costs, and proximity to fire stations.
Renters Insurance in Minneapolis, MN
Renters insurance in Minneapolis averages $192 per year ($16/month). Renters insurance is affordable and protects your personal belongings, provides liability coverage, and may cover temporary living expenses if your rental becomes uninhabitable.
Compare with Other Minnesota Cities
| City | Auto Insurance | Home Insurance |
|---|---|---|
| St. Paul | $1,704/yr | $1,869/yr |
| Rochester | $1,338/yr | $1,716/yr |
| Duluth | $1,399/yr | $1,564/yr |
| Bloomington | $1,445/yr | $1,812/yr |
| Brooklyn Park | $1,597/yr | $1,678/yr |
| Plymouth | $1,338/yr | $1,945/yr |
| Woodbury | $1,293/yr | $2,002/yr |
| Maple Grove | $1,293/yr | $2,002/yr |
How to Save on Insurance in Minneapolis
- Shop around. Get quotes from at least 3-5 different insurers. Rates in Minneapolis can vary by $500 or more between companies for the same coverage.
- Bundle auto and home/renters. Many companies offer 10-25% off when you carry multiple policies.
- Increase your deductible. Raising your deductible from $500 to $1,000 can cut your premium by 15-30%.
- Ask about local discounts. Some insurers offer discounts for anti-theft devices, safe driving courses, or parking in a garage.
- Review coverage annually. Your needs change over time. Make sure you are not paying for coverage you do not need.
Frequently Asked Questions
How much is car insurance in Minneapolis, MN?
The average cost of car insurance in Minneapolis, MN is $1,795 per year for full coverage, or about $150 per month. Minimum coverage costs around $754 per year.
Is car insurance expensive in Minneapolis?
Car insurance in Minneapolis is about average for the U.S.
How much is home insurance in Minneapolis?
Homeowners insurance in Minneapolis costs an average of $2,002 per year. Your actual cost depends on your home's value, age, construction type, and specific location.