Are you considering renting a property in Minnesota? Whether you’re a seasoned renter or moving into your first apartment, one crucial aspect of safeguarding your belongings and peace of mind is renter’s insurance.

Here is everything you need to know about renter’s insurance in Minnesota.

What is Renter’s Insurance?

Renter’s insurance is a type of policy designed to protect your personal belongings and provide liability coverage while renting a property. While your landlord’s insurance typically covers the building itself, it doesn’t extend to your personal possessions or protect you from liability claims. Renter’s insurance fills this gap, offering financial protection in case of theft, fire, vandalism and other inconveniences.

Why is Renter’s Insurance Important in Minnesota?

Minnesota’s climate and diverse landscape bring unique risks to renters. From harsh winters with heavy snowfall to the occasional severe thunderstorm, the state’s weather can pose threats to both property and personal belongings. Additionally, incidents like burglary and accidental damage are risks that renters face regardless of location. Renter’s insurance provides a safety net against these unforeseen events, ensuring that you’re not left financially vulnerable in times of crisis.

What Does Renter’s Insurance Cover?

  1. Personal Property Coverage: This aspect of renter’s insurance protects your belongings, including furniture, electronics, clothing, and more, against covered perils such as theft, fire, smoke damage, vandalism, and certain types of water damage. It’s essential to review your policy to understand what specific items are covered and any limits or exclusions that may apply.
  2. Liability Coverage: Liability coverage protects you if someone is injured while on your rental property or if you accidentally damage someone else’s property. It can help cover medical expenses, legal fees, and damages awarded in a lawsuit, up to the limits of your policy.
  3. Additional Living Expenses (ALE): If your rental becomes uninhabitable due to a covered loss, such as a fire, renter’s insurance can help cover additional living expenses while you’re displaced. This may include hotel bills, temporary rentals, and meals beyond your usual expenses.

Factors to Consider When Purchasing Renter’s Insurance

  1. Coverage Limits: Evaluate the value of your possessions to determine the appropriate coverage limits for your policy. Keep in mind that certain high-value items like jewelry or electronics may require additional coverage through endorsements or riders.
  2. Deductibles: Understand the deductible amount you’ll be responsible for before your insurance kicks in. Choosing a higher deductible can lower your premium but may require you to pay more out of pocket in the event of a claim.
  3. Actual Cash Value vs. Replacement Cost: Policies typically offer two types of coverage for personal belongings: actual cash value (ACV) and replacement cost. ACV coverage reimburses you for the current value of your items, accounting for depreciation, while replacement cost coverage pays to replace your belongings at their current market value without factoring in depreciation. Replacement cost coverage generally offers greater protection but may come with higher premiums.
  4. Policy Exclusions: Familiarize yourself with any exclusions or limitations in your policy, such as coverage for certain types of natural disasters or personal property kept in storage units.

How Much Does Renter’s Insurance Cost in Minnesota?

The cost of renter’s insurance in Minnesota varies depending on factors such as your location, the amount of coverage you need, your deductible, and your insurance provider.


Renter’s insurance is a valuable investment that provides financial protection and peace of mind for renters in Minnesota. By understanding the coverage options, factors to consider, and cost implications, you can make informed decisions to ensure that you’re adequately protected against unforeseen events. Whether you’re renting a cozy apartment or a lakeside cabin, having the right renter’s insurance policy can help you weather life’s storms with confidence.