According to Realtor.com, insurance rate increases this year range from 3% in Maine and Vermont to 27% in Louisiana. Minnesota increases ranked us #5 in the nation, at a 15% rise. States with higher increases are Louisiana (27%), California (21%), Iowa (19%) and Hawaii (17%). See the full list.
Severe weather in recent years is blamed for the rate hike, especially hail damage in Minnesota.
According to the map below from Realtor.com, Minnesotans can expect to pay $3,000-$4,999 for homeowner’s insurance this year.
Sharlene Hensrud, RE/MAX Results – shensrud@homesmsp.com
