Minnesota home insurance premiums tripled as extreme weather increased

Since 2000, Minnesota has experienced 23 extreme weather events that caused a billion dollars or more in damage. And those billions are costing cities and homeowners through higher insurance rates.

Minnesota homeowner insurance premiums have more than tripled in the past 15 years.  

“And to be honest, the insurance premiums you’re paying now probably aren’t actually enough because the property insurers continue to lose money on homeowners and property insurance,” said Mark Kulda, vice president of public affairs at the Insurance Federation of Minnesota. “And because of that, it means that you’re going to look at these increases into the future.”

Kulda joined MPR News chief meteorologist Paul Huttner this week on Climate Cast. Click play on the audio player above or subscribe to the Climate Cast podcast to hear more.