Eden Prairie Homeowners Insurance

Your Complete Guide to Eden Prairie, MN Homeowners Insurance

Find the right homeowners insurance policy for you.

The affluent city of Eden Prairie is home to more than 64,000 people. Residents are attracted to this Minneapolis suburb because of its excellent schools, low crime rate, and beautiful parks. If you are among the proud homeowners in this Minnesota city, you will want to protect your investment by backing it with a solid home insurance policy.

When you are shopping for the best insurance coverage for your Eden Prairie home, an independent insurance agent can help. Contact an agent near you to learn more and start comparing homeowners insurance quotes.

Cost of Homeowners Insurance in Eden Prairie, Minnesota

Minnesota is the 13th most expensive state for home insurance in the US. In Eden Prairie, where property values are very high, the average rate is even higher. 

  • National average yearly premium: $1,173
  • Minnesota average yearly premium: $1,323
  • Eden Prairie average yearly premium: $1,748

You can expect your actual home insurance quotes to vary a bit from the averages shown above. This is because your rates are based on a number of factors, including: 

  • The size, age, and value of your house
  • The number of stories in your home and the materials used in its construction
  • Your credit score
  • The amount of your deductible
  • Whether you are bundling your coverage with other policies like car insurance or business insurance

Each insurance company has a different formula for calculating rates, so comparing quotes lets you choose the homeowners insurance policy that offers the best value for your hard-earned money. Independent agents in Eden Prairie make comparison shopping easy.

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Burglary Rate in Eden Prairie

  • 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 Eden Prairie: 1.56

The burglary rate in Minnesota is lower than the national average; in Eden Prairie, it is even lower. Of course, this is not to say that the risk does not exist. Residents of this city report about 100 burglaries every year. 

There are many steps you can take to lower your chances of a burglary. Installing a burglar alarm is one of the best ways to keep a thief at bay. Perhaps that is why most homeowners insurance companies offer discounts to policyholders who have home security systems.

If your house is burglarized, you may take some comfort in knowing that your home insurance company can reimburse you for your losses. Be sure to get a copy of the police report, because you will need that when you file a claim. Your independent insurance agent can provide assistance throughout the claims process.

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 coverage against many of the hazards you are likely to face as a homeowner in Eden Prairie. These include accidental fires, property crimes, freezing pipes, and severe weather events. An independent agent can help you review your coverage limits so you can be sure that they are high enough. 

Eden Prairie is also prone to flash flooding. Homeowners insurance policies that include backup of sewage and drains insurance can provide coverage in some cases. In others, a flood insurance policy will be necessary for you to be covered. Be sure to talk to your independent agent about getting the proper coverage against potential flood damage to your home.

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Liability Insurance for Eden Prairie Homeowners

Your home insurance can also cover you against a number of potential liability lawsuits. Most people never need to use the personal liability insurance portion of their home policies, but when they do, this coverage can prove extremely valuable.

Homeowners liability insurance is designed to cover court costs, legal defense fees, and damages if you are sued for a covered event. Examples include third-party injuries on your property, damage caused by your pets or children, and charges of libel and slander. 

Many residents of Eden Prairie have a lot to lose. Supplementing your homeowners liability insurance with an umbrella insurance policy provides additional liability coverage. This enables you to fully protect your savings and other assets. An independent agent can explain more about your liability insurance options.

Second Home and Vacation Home Insurance

If you are among the Eden Prairie residents who own more than one home, you will need to insure all of your properties. Houses that do not serve as your primary residence, however, have additional risk factors that insurance companies will take into consideration.

Many vacation homes are left unoccupied for several months out of the year. This increases their property damage risks. If you own a vacation home, you may need to consider vacant home insurance for the times it is unoccupied.

Second homes that are occupied by tenants have higher liability risks. If you are renting out your second home, you will need to cover it with a landlord insurance policy.

Your local independent agent can help you find the best and most affordable policies to cover all of your properties.

Why Work with an Independent Insurance Agent?

Independent insurance agents make it easy to find the best policy to cover your Eden Prairie home. They can work with several different insurance companies to make sure you are getting your coverage at a competitive rate. Find an agent in or near Eden Prairie to get started.

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http://www.naic.org/prod_serv/AUT-PB-14.pdf
https://www.census.gov
http://www.city-data.com