Minnesota among worst states for Homeowners Insurance

Photo by: Government of Minnesota
Photo by: Government of Minnesota

(Minneapolis, MN) -- Damaging storms are causing financial issues for homeowners in Minnesota.

A new analysis by Bankrate.com ranks the state the fourth-worst in the country for homeowners insurance. The study shows the average cost of homeowners insurance for a policy with 250-thousand dollars in coverage tops 17-hundred dollars a year. The rate is 500-dollars more than the national average.

Insurance agents say severe weather across the seasons in Minnesota contributes to the low ranking.