Advisornet Financial | Insurance Agency | Wealth Management
110 Cheshire Ln, Suite 200, Minnetonka, MN 55305
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110 Cheshire Ln, Suite 200, Minnetonka, MN 55305
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5900 Rowland Rd, Minnetonka, MN 55343
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10900 Wayzata Blvd, Suite 250, Minnetonka, MN 55305
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11500 Wayzata Blvd, #1114, Minnetonka, MN 55305
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5100 Thimsen Ave, Ste 228, Minnetonka, MN 55345
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5100 Thimsen Ave NW, Suite 228, Minnetonka, MN 55345
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Learn about insurance coverage options specific to Minnetonka residents.
Complete guide to auto, home, and flood insurance in Minnetonka, Minnesota. Learn about local rates, Lake Minnetonka coverage, and savings tips for 2026.
Home InsuranceMinnetonka home insurance rates rising 15% in 2025. Learn coverage for Lake Minnetonka properties, winter risks, and costs. Get quotes from top carriers.
You might want it even if not required. While flood insurance is mandatory only for properties in FEMA high-risk zones with federally backed mortgages, 20% of flood events nationwide occur in low-risk areas. Minnetonka updated its floodplain maps in 2023, and coverage in low-risk zones costs just over $100 annually through the National Flood Insurance Program's Preferred Risk policy—far less than the potential cost of even minor water damage.
Under Minnesota's no-fault system, your own auto insurance covers your medical bills after an accident, regardless of who caused it. This is why you're required to carry at least $40,000 in Personal Injury Protection (PIP) coverage. Your PIP pays for your medical expenses and some non-medical costs like lost wages, which means you don't have to wait for fault to be determined before getting treatment. However, you can still sue the at-fault driver for serious injuries.
Minnesota residents pay an average of $1,310 per year for full coverage auto insurance, though rates vary across the Twin Cities metro area. Homeowners insurance averages around $144 per month statewide. Actual costs in Minnetonka depend on factors like your home's proximity to Lake Minnetonka, your driving record, credit score, and the coverage limits you choose. Bundling both policies typically saves over $693 annually.
Local agents often help you save money by identifying discounts you might miss on your own and comparing multiple carriers efficiently. Minnetonka's six local agencies understand area-specific risks like Lake Minnetonka flooding and Minnesota weather patterns, which helps them recommend appropriate coverage levels—not too much, not too little. They can also bundle policies, negotiate on your behalf, and adjust coverage as your needs change, potentially saving more than going direct.
While Minnesota requires 30/60/10 liability coverage, most experts recommend at least 100/300/100 to adequately protect your assets. Given Minnetonka's median household income of over $120,000, you likely have property, savings, and future earnings worth protecting beyond minimum limits. Consider adding umbrella liability coverage ($1-2 million), comprehensive and collision for your vehicles, and flood insurance even if not required—especially if you live near water.
The city updated its floodplain maps in 2023 using more accurate precipitation data, infrastructure changes, and land use updates from the past 20 years. If your property moved into a high-risk zone, you'll need flood insurance if you have a federally backed mortgage. Even if you're in a moderate or low-risk zone, the updated maps reflect real changes in flood patterns, making flood coverage more relevant than it might have been under older assessments.
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