Minnesota Insurance Requirements & Rates

Minnesota requires minimum liability coverage of 30/60/10 (bodily injury per person / per accident / property damage). Minnesota is a no-fault state, meaning your own insurance pays for your injuries regardless of who caused the accident. Uninsured motorist coverage is required. Personal injury protection (PIP) is also required.

Minnesota homeowners face risks from tornadoes, severe thunderstorms, flooding, winter storms. The flood risk level is moderate and earthquake risk is low. Standard deductibles apply. The average annual home insurance premium is $2,191.

Minnesota requires riders under 18 to wear helmets. Lane splitting is not legal. Eye protection is required for all riders. The riding season is may–september.

Yes, workers' compensation insurance is required in Minnesota. Sole proprietors and partners may opt out. Minnesota has approximately 550,000 small businesses, with top industries including Healthcare & Medical Devices, Agriculture, Finance.

Yes, Minnesota has expanded Medicaid. The state has its own state-based health insurance marketplace at https://www.mnsure.org. The uninsured rate is 4.5%.

Yes, landlords in Minnesota can require tenants to carry renters insurance as a condition of the lease. About 29% of Minnesota residents are renters, with average monthly rent of $1,100.

With a median household income of $77,720, most Minnesota families should consider 10-12x their annual income in life insurance coverage. Currently, 56% of Minnesota households have life insurance.