Brooklyn Park, MN is home to more than 75,000 people. Residents are attracted by this city’s affordable housing, lovely parks, and proximity to the Mississippi River. If you are among the proud homeowners in this Minnesota city, you will want to protect your investment by having a solid home insurance policy.
When you are shopping for affordable insurance coverage for your Brooklyn Park home, an independent insurance agent can help. Find an agent near you to start comparing quotes.
Cost of Homeowners Insurance in Minnesota
Minnesota is the 13th most expensive state for home insurance in the US. Rates in Brooklyn Park tend to run a little higher than the state average.
- National average yearly premium: $1,173
- Minnesota average yearly premium: $1,323
- Brooklyn Park average yearly premium: $1,478
The rates above are just averages. In reality, rates can vary significantly from one homeowner to the next. To find out how much coverage will actually cost for your Brooklyn Park home, you can request quotes from different insurance companies.
Your rates will be based on a number of considerations including:
- The size, age, and value of your home, as well as the materials used in its construction
- The crime rate in the ZIP code where your house is located
- The amount of your deductible
- Whether you are bundling your coverage with other policies like car insurance or business insurance
- Your credit score
Each insurance company has its own method for calculating rates, so comparing quotes lets you choose the policy that provides the best value for your money. Independent insurance agents make comparison shopping easy.
Burglary Rate in Minnesota
- Number of burglaries per 1,000 homes in the US: 4.69
- Number of burglaries per 1,000 homes in Minnesota: 3.37
- Number of burglaries per 1,000 homes in Brooklyn Park: 4.52
The burglary rate in Minnesota is lower than the national average; but in Brooklyn Park, it is higher than the state average. There are more than 350 burglaries reported in this city each year.
In the event that your Brooklyn Park home is burglarized, you may gain some peace of mind knowing that your homeowners insurance company can provide compensation for your losses. In many cases, insurance companies will offer discounts to homeowners who have installed burglar alarms or other home security devices. Your independent agent can explain more.
Catastrophic Events in Minnesota
- Number of declared disasters in Minnesota: 60
- Average number of tornadoes per year in Minnesota: 41.9
- Average amount of property damage per year in MN: $897,178,000
- 1 in 15 insured homes has a claim each year.
Your home insurance policy is designed to provide you with coverage against many of the hazards you are likely to face as a homeowner in Brooklyn Park. Your local independent agent can help you review your structural and contents coverage limits so you can be sure that they are high enough.
Given how close Brooklyn Park is to the Mississippi River, it should come as no surprise that many of this city’s homeowners are also at risk for flooding. However, homeowners insurance does not cover flood damage. Talk to your agent to determine whether supplementing your home coverage with flood insurance through the NFIP is a good idea for you.
Liability Insurance for Brooklyn Park Homeowners
Your homeowners insurance can do more than just cover property damage and loss. It can also shield you from a number of liability lawsuits you could potentially face as a homeowner. Most people never need to use the personal liability insurance portion of their home policies, but when they do, they are certainly glad it is there.
Homeowners liability insurance is designed to cover court costs, legal defense fees, and damages if you are sued for injuries incurred by visitors to your home, property damage or injuries caused by your children or pets, charges of libel or slander, and a few other potential liability hazards.
If you have a lot to lose and want to have liability coverage in amounts higher than your homeowners policy can cover, you may want to also look into purchasing an umbrella insurance policy. Your local independent agent can explain more about your liability protection options.
Second Home and Vacation Home Insurance
If the property you are insuring is not your primary residence, there are a few other factors that insurance companies will take into consideration. This may mean higher rates for coverage, and specialized policies.
Vacation homes that are left vacant for long periods have a higher risk of sustaining property damage such as may occur with untreated water leaks or pest infestations. Also, if you have a second home that is occupied by tenants, there are higher liability risks and you will need to cover that property with landlord insurance.
A local independent insurance agent can explain the coverage needs associated with any additional properties you may have, and they can help you find the best and most affordable policy to meet those needs.
Why Work with an Independent Insurance Agent?
Independent insurance agents make it easy to find the right policy to cover your Brooklyn Park home. They can work with a number of different insurance companies to make sure you are buying your home insurance coverage at a competitive rate. Find an agent in or near Brooklyn Park to start comparing quotes.
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