How Minnesota home insurance rates stack up
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Home insurance rates in the US have risen 12% in the last year, with a further 4% increase expected this year, due to the growing frequency and severity of extreme weather events. In Minnesota, home insurance rates increased by 34% from 2024-2025 and are projected to rise by 3.5% in 2026.
The US is experiencing a rise in home insurance rates due to extreme weather events. Insurance companies consider factors like home value and credit scores, but the primary cause is the increasing toll of extreme weather. Insured losses from natural catastrophes averaged $100 billion per year between 2023 and 2025. Home insurance rates in Minnesota increased by 34% from 2024-2025 and are projected to rise by 3.5% in 2026. California has seen a 16% rise in home insurance rates since 2023, with another 16% increase expected by the end of 2026. The rising costs are driven by devastating wildfires and the state's insurance market has been in crisis since 2017.
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