The Minneapolis suburb of Woodbury is home to more than 78,000 people. This city’s low crime rate, excellent schools, and lovely parks make it a great place to raise a family. If you are among the proud homeowners in this Minnesota city, you will want to be sure that your investment in your house is protected by a solid home insurance policy.
Independent insurance agents can help you obtain the best and most affordable insurance coverage for your Woodbury home. Find an agent near you to learn more and start comparing homeowners insurance quotes.
Cost of Homeowners Insurance in Woodbury, Minnesota
Minnesota is the 13th most expensive state for home insurance in the US. In the affluent city of Woodbury, where property values are higher than in most parts of the state, the average rate for coverage is even higher.
- National average yearly premium: $1,173
- Minnesota average yearly premium: $1,323
- Woodbury average yearly premium: $1,606
You can expect your actual home insurance quotes to be different from the average Woodbury rate shown above. This is because all rates are calculated individually according to a number of factors such as:
- The size, age, and value of your house
- The materials used in your home’s construction
- Your credit score
- The amount of your deductible
- Whether you are bundling your coverage with other policies like car insurance, life insurance, or business insurance
Each insurance company has its own way of calculating rates, so comparing quotes allows you to choose the home insurance policy that provides the best value for your hard-earned money. Independent agents in Woodbury make comparison shopping easy.
Burglary Rate in Woodbury, Minnesota
The burglary rate in Minnesota is lower than the national rate, and in Woodbury, the rate is even lower. Of course, this does not mean that the risk is nonexistent. Residents of this city report more than 150 burglaries in a typical year.
- 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 Woodbury: 2.21
There are precautions you can take to lower your chances of a burglary. Having a burglar alarm is one of the best ways to deter a thief who is targeting your property. This is why many homeowners insurance companies offer discounts to policyholders who have installed security systems in their homes.
The good news is that if your house is burglarized, your home insurance can reimburse you for the resultant loss and damage. You will want to be sure that your most prized possessions are properly insured. Sometimes, this involves having special endorsements or riders. Talk to your agent to learn 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 homeowners insurance policy is designed to cover you against most of the hazards you are likely to face as a resident of Woodbury. This includes everything from uncontrolled kitchen fires to severe weather events to frozen pipes. A local independent agent can help you review your property coverage limits so you can be sure that they are high enough.
Some homes in Woodbury are also prone to damage caused by flash flooding. Homeowners insurance policies that include backup of sewage and drains insurance may provide coverage in some cases. In others, a flood insurance policy is necessary for you to be compensated for your damage. Your independent agent can help be sure that you are covered against all of your risks.
Liability Insurance for Woodbury Homeowners
Homeowners insurance also provides you with personal liability coverage. Liability insurance is designed to cover court costs, legal defense fees, and damages if you are sued for a covered event.
Some examples of times your homeowners liability coverage can help you include:
- If a visitor on your property is seriously injured due to negligence on your part
- If your child or pet causes a third party to suffer injuries or property damage
- If you are accused of libel or slander
Many residents of Woodbury have a lot to lose. If you wish to have liability coverage in an amount higher than your home insurance policy can provide, you can supplement your coverage with an umbrella insurance policy. An independent agent can further explain your liability insurance options.
Second Home and Vacation Home Insurance
Some Woodbury residents own more than one home. If you are among them, you will need to cover all of your properties with appropriate policies. A house that is not your primary home has additional risk factors and may need specialized home policies.
- Second homes that are occupied by tenants have higher liability risks. If you are renting out a home, the property will need to be covered by a landlord insurance policy.
- A vacation home that is left unoccupied for several months out of the year has an increased risk of property damage, and may need vacant home insurance.
Your local independent agent can help you find the best and most reasonably priced policies to cover all of your homes.
Why Work with an Independent Insurance Agent?
The easiest way to find a reliable homeowners insurance policy at a great price is to work with an independent agent. These local agents work for you, not for a particular insurance company, so you can be sure that you are getting the coverage you need at a competitive rate.