Move over, Florida. New numbers show that Minnesota could finish first when it comes to disaster insurance claims. Last year, Minnesota generated nearly $800 million in claims, and that’s only through the third quarter. If you’re wondering why your premium is going through the roof, you can blame what’s falling on your roof. Hail from storms on Aug. 6 damaged roofs, windows and siding all over the south metro.
It’s the second-largest insurer for homeowners in Minnesota. And now a local couple says American Family has been overcharging them for years.
The truth: Insurance companies operating in Minnesota are required by law to cover at least 28 separate benefits, eight types of patients and 13 different health care professions. That’s the sixth highest number of mandates in the country.
Geico will save you 15 percent. 21st Century says, if you leave Geico, you’ll save $460. Progressive customers save hundreds when they switch, too. So, how can all these car insurance companies save you money?
Insurance companies in Minnesota are calling this year catastrophic.