55420, MN Homeowners Insurance Rates

With a population size of 23,128 and with 9,208 occupied homes in the 55420 area, our online shopping service is becoming very helpful for homeowners like you. The average home insurance premiums in Minneapolis, MN are around $1,094 per year for a standard HO-3 homeowners policy. Wouldn't you love to save up to 40% or more on your next home insurance policy? Our process easily compares the most competitive rates, while including all discounts and credits, plus reviewing all enhanced coverage options. You will find that GetHomeInsuranceQuotes.com is the best place online to shop for home insurance rates in Minneapolis, Minnesota. If you are looking for more affordable rates, let us help you shop and compare your next homeowners policy today. Just enter your zip code to start online comparing, or give us a call at 1-855-976-2656 so we can help you review rates today!

It's important to know that if your Minnesota home may be located in a risk area that is prone to flooding, hurricanes or earthquakes. You may need additional coverage that is not part of your current policy like an HO-3 or HO-2. We can help you review the best protection and coverage options for your home located in Minneapolis, MN.

For Minnesota home insurance information, including average Minneapolis home insurance rates, coverage options or the different homeowners insurance types, please select Minneapolis, MN Home Insurance Quotes Now!

Average Building Cost Per Square Foot in 55420: $188

Average Square Footage in 55420: 1,326 Sq. Ft.

When building or updating a home, it's always good to review the average cost per square foot to build in 55420 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 55420 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 55420 and want to estimated the dwelling coverage, than we will need the square footage of the home which is 1,326 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.

It's important to understand that when you estimate your replacement cost of your home in the 55420 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.

Allstate Insurance - Kimberly Schwake

Brent Mohlenhoff Ins Agcy Inc - State Farm Insurance Agent

Allstate Insurance Companies - Sales Offices- Bloomington

Allstate Insurance - Kimberly Schwake

Kevin Bohlig Ins Agency Inc - State Farm Insurance Agent

Ronald Cherry Agency Farmers Insurance Group

Household Data for 55420

The average number of homes in 55420 is around 9,208, there are an average of 2.47 per household. The average house value according to local real estate values is around $249,200. Please review the following demographics below for average income and media age.

• $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 […]

• I can’t afford my home insurance, what do I do? Posted on Saturday 9th November, 2024

  According to data from the National Association of Realtors (NAR), the average U.S. insurance rate is $2,377 a year. The data also suggest that homeowners could see a 6% rise in rates by the end of the year which is in addition to the 20% increase over the two previous years. As climate change pushes […]

• How to Get the Best Homeowners Insurance Policy for Your Needs Posted on Wednesday 6th November, 2024

  Having the proper insurance coverages in place is a critical part of owning a home, it protects your investment and finances in the event your home is destroyed by an unexpected disaster such as a fire, flood or severe storm.  Understanding the different coverages that are available to homeowners is key to making sure you […]