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55405 Homeowners Insurance Rate Quotes

Are you shopping for homeowners insurance quotes in 55405? Our rates are very competitive for homeowners living in Minneapolis, MN. Many homeowners based out of your 55405 area have found it very easy to shop with GetHomeInsuranceQuotes.com. For example, we clearly showcase the carriers that we will shop for you. Plus, our homeowners insurance quotes are free and our Minnesota licensed agents can provide a free consultation service to you that allows you to ask questions about the rates and coverage options. To start a free home insurance quote, simply click the "Get Multiple Quotes Now" button. Your 55405 should appear in the zip code field ready to go. For Minneapolis, MN Home Insurance Rate Quotes click to review the best rates and service online!

55405 Average Premium is Rated: High!

Homeowners living in 55405 can easily save up to 40% off the average home insurance premium of $1047 a year by comparing rates with us at GetHomeInsuranceQuotes.com. You don't have to do the research to find the best company, rate and coverage options. We have already done this for you. We have 12 major carriers in Minneapolis that are all very competitive and have the best rate and coverage option available. All you need to do is request quotes online for zip code 55405 and we will help you compare prices and apply all available discounts. If you want savings and also need help deciding which policy is best for you, than let us help you compare multiple rates today!

Get Multiple Home Insurance Rates in 55405!

55405 Home Insurance Average Premiums

Local 55405 homeowners insurance quotes comparison

$797 /yr.

Shows Zip Code: 55405 lowest rates with discounts applied on average.

For the 55405, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.

Coverage Amount:Annual Premium
1800 sq. ft. or below
(discounts applied)		$797 /yr.
Average Coverage:$1047 /yr.
2600 sq. ft. or higher
(all discounts applied)		$1347 /yr.

What is the average home insurance cost for a home in 55405?

  • • The average homeowners insurance premium paid annually for a home in 55405 is around $1047 per year.

What does it cost on average per month for home insurance in 55405?

  • • Homeowners in 55405 pay a monthly average cost per month around $87.00.

What kind of discount could I get if I combine my home and auto insurance together in 55405?

  • • Autoowners in 55405 can receive a 20% to 25% discount if they own a home and would like to group or bundle their car and home insurance together with one insurance company.

For shopping home insurance rates within the Minneapolis area, check out other zip codes nearby 55405.
Review average rates in another zip code:
55411 homeowners insurance rates
55436 homeowners insurance rates
55418 homeowners insurance rates
55410 homeowners insurance rates
55446 homeowners insurance rates
55426 homeowners insurance rates
55407 homeowners insurance rates
55438 homeowners insurance rates
55415 homeowners insurance rates
55423 homeowners insurance rates

Home Replacement Cost Coverage in 55405

Average Building Cost Per Square Foot in 55405: $188

Location: Minneapolis, Minnesota (Hennepin County)

Average Square Footage in 55405: 1,995 Sq. Ft.

When building or updating a home, it's always good to review the average cost per square foot to build in 55405 before you start any project. Minneapolis homeowners pay on average around $188 per square foot to build a home. Another great reason to know the average cost to build is for your homeowners insurance policy. A standard homeowners policy will help you cover the replacement cost of your home due a fire or any other named perils on your policy. Calculating your dwelling coverage for your home in 55405 is extremely helpful when estimating how much replacement cost coverage you need. We highly recommend that you have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.

Here is how you determine your replacement cost. If we take an average home in 55405 and want to estimated the dwelling coverage, than we will need the square footage of the home which is 1,995 sq. ft. and the average cost to rebuild the home in this area is around $188 per square foot would be considered a base estimate cost. These two numbers would allow us to generate the replacement cost needed for an average size home in the Minneapolis area. If the home is new or has been upgraded, you will want to add $50 to $100 or more per square foot to equally cover the replacement cost to restore a home back to it's original condition.

Home Improvement StatusPrice per Sq. Ft.Square FeetDwelling Coverage
Basic Home Features$1881,995$375,100
Additional Upgrades & Added Features$2351,995$468,875
Major Home Updates or Advancements$2821,995$562,650

It's important to understand that when you estimate your replacement cost of your home in the 55405 zip code area, it will be the cost to replace the structure of your home, not the additional value of the property that is factored in when purchasing a new home.

Best Homeowners Insurance Agencies in 55405

Best Home & Auto Insurance Agencies in 55405

Walz- Robert L

Address: 2101 Hennepin Ave Minneapolis, MN 55405
Phone:
Website:
Info:

Housing Demographics for 55405

Population Review for 55405 Zip Code

For the city of Minneapolis, the population within 55405 has increased to over 14,817 residents in population size. The current population total is 15,497. We have broken down the population based on race below. In 55405, there are over 7908 in male population and 7589 females.

PopulationValues
Total Population15,497
White Population10258
Black Population2601
Hispanic Population1070
Asian Population639
Hawaiian Population7
Indian Population181
Other Population578
Male Population7908
Female Population7589
Population Estimate14817

Household Data for 55405

The average number of homes in 55405 is around 7,480, there are an average of 1.99 per household. The average house value according to local real estate values is around $375,100. Please review the following demographics below for average income and media age.

Housing / Income DataValues
Households Per Zipcode7,480
Persons Per Household1.99
Average House Value$375,100
Income Per Household$64504
Median Age32.8
Median Age Male33.8
Median Age Female32.0
55405 DetailsValues
StateMN
State Full NameMinnesota
City TypeP
City Alias Abbreviation
Area Code612/763/952
CityMinneapolis
City Alias NameMINNEAPOLIS
CountyHennepin
County FIPS053
State FIPS27
Time Zone6
Day Light SavingY
MSA5120
PMSA
CSA378
CBSA33460
CBSA_DIV
CBSA_TypeMetro
CBSA_NameMinneapolis-St. Paul-Bloomington, MN-WI
MSA_NameMinneapolis-St. Paul, MN-WI MSA
PMSA_Name
RegionMidwest
DivisionWest North Central
MailingNameY
Economic & Growth ReviewValues
Number Of Businesses510
Number Of Employees5122
Business First Quarter Payroll55601
Business Annual Payroll255530
Business Employment Flag
Growth Rank0
Growth Housing Units 2003
Growth Housing Units 2004
Growth Increase Number0
Growth Increase Percentage0.0
Metropolitan DetailsValues
CBSA Population3279833
CBSA Division Population0
Congressional District05
Congressional LandArea135.66
Delivery Residential7446
Delivery Business519
Delivery Total8225
Preferred Last Line KeyY25845
Classification Code
Multi-County
CSA NameMinneapolis-St. Paul, MN-WI
CBSA_DIV_Name
City State KeyY25845
Land Area2.833000
Water Area0.197000
City Alias Code
City Mixed CaseMinneapolis
City Alias Mixed CaseMinneapolis
Box Count64
SFDU3591
MFDU3769
State ANSI27
County ANSI053
ZIP Intro
Alias Intro
Facility CodeP
City Delivery IndicatorY
Carrier Route Rate SortationD
Finance Number266360
Unique ZIP Name
SSA State County Code24260
Medicare CBSA Code33460
Medicare CBSA NameMinneapolis-St. Paul-Bloomington, MN-WI
Medicare CBSA TypeMetro
Market Rating Area ID8
County Mixed CaseHennepin

Minnesota Homeowners Insurance News & Information

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    According to a new report from Matic, the homeowner’s insurance market has shown signs of stabilizing roughly two years after major premium hikes and coverage challenges.  Even though premiums are high, trends in the insurance industry show that a slowdown in premium growth may be coming. Here is a brief overview of the report and […]

  • What’s the average home insurance rate for a $300K home in 2024? Posted on Monday 9th December, 2024

    A recent report from Insurance.com found that the average homeowners insurance rate for a $300,000 in homeowners coverage hit $2,777 per year which breaks down to $231 monthly.  The cost of homeowners insurance in some states can be extremely expensive, for years Florida has been know to have the highest premiums in the nation. When […]

  • $4.5B Estimated In Insured Losses After 2024 Florida Hurricanes Posted on Wednesday 13th November, 2024

    According to the Florida Office of Insurance Regulation, the three hurricanes that made landfall this year have caused more than $4.5 billion in estimated insured losses. Hurricane Debby, Helene and Milton all hit the state within two months of each other Helene and Milton struck just two weeks apart. State data show that over 269,000 […]