In recent years, Minnesota has experienced a notable increase in hail storms and other severe weather events, and reporting on the state's insurance market has tracked rising homeowners premiums alongside it. For residents of Blaine and the surrounding north metro, the background is worth understanding.
One note before you read on. Everything below about insurance comes from published sources, named and linked: KARE 11's reporting, the Insurance Federation of Minnesota, an insurance agency quoted in that coverage, and Quadrant Information Services data via Bankrate. None of it is our own assessment, and none of it describes your policy. We are a roofing contractor, and Minnesota Statute 325E.66 bars a residential contractor from interpreting policy provisions or advising an insured about coverage or duties under a policy, unless licensed as a public adjuster. Anything about your own policy goes to your agent or your carrier, and the Minnesota Department of Commerce publishes homeowner guidance at mn.gov/commerce.
The Surge in Severe Weather Events
Minnesota’s weather patterns have become increasingly volatile, with hail storms becoming more frequent and intense. Unlike isolated incidents such as house fires or burglaries that typically affect only one home, hail storms can devastate entire neighborhoods or cities at once. This widespread impact results in a surge of insurance claims, driving up the overall cost for insurance companies. As Aaron Cocking from the Insurance Federation of Minnesota explains, “Wind and hail are causing a lot of challenges for insurance companies right now.”
Rising Insurance Premiums and Deductibles
Insurance companies have raised premiums and deductibles to manage the financial strain of these increased claims. Homeowners are now seeing premiums rise by several hundred to thousands of dollars.
Roberta Gibbons from the Dyste Williams Agency notes that many of her clients face higher premiums and deductibles specifically for wind and hail damage. That same reporting describes some companies introducing mandatory minimum deductibles and changing how older roofs are handled. Whether any of that applies to your own policy is a question only your agent or your carrier can answer.
Understanding Your Coverage
The advice in that reporting comes from the industry rather than from us. Aaron Cocking suggests, “Heading into storm season, now is a great time to read through your policy to see how you’re covered.” The Minnesota Department of Commerce separately advises homeowners to review the terms of their coverage and to read the exclusion section. Take the conversation itself to your own agent.
The Financial Impact
The financial impact of these changes is considerable. According to data from Quadrant Information Services, the 2024 average annual premium for Minnesota home insurance is $2,417, or $201 a month, for $300,000 in dwelling coverage. This is 8 percent more than the 2024 national average of $2,230 or $186 a month. Such increases highlight the importance of understanding Minnesota’s specific weather risks and securing adequate insurance coverage.
What we can actually do about it
The insurance market is not ours to fix. The roof is. At Roofs R Us in Blaine we inspect, document and build, and a sound, well ventilated roof with intact flashing is the part of this you can control. As Owens Corning Platinum Preferred Contractors, we offer high-quality roofing solutions backed by 50-year warranties. Our team is dedicated to helping you protect your home from severe weather damage, ensuring peace of mind during storm season.
For more information on how we can assist you with your roofing needs, contact us today at (612) 282-8092.
Sources
- Homeowners insurance costs are going up in Minnesota, KARE 11
- Rising auto and home insurance rates remain major concern, KARE 11
- Bankrate, Data from Quadrant Information Services on 2024 average annual premiums for Minnesota home insurance