HomeInsuranceQts

Home Insurance in Independence, Minnesota

Homes in Independence carry a median value of $663,400 - 69% higher than the Hennepin County median.

The typical home in Independence was built around 1989. About 16% of homes were built before 1960, about 19 points below Hennepin County's 36%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.

Housing in Independence breaks down to 96% single-family homes and 4% apartments in buildings with 5+ units.

In Independence, about 70% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.

The vacancy rate is 6%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 92% of occupied homes in Independence are owner-occupied.

In Independence, 67% of homes are primarily heated with natural gas. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.

FEMA rates Hennepin County's overall risk as Relatively High, led by tornado (Very High). Hennepin County had 959 active NFIP flood policies as of September 2026. See the full Hennepin County home insurance overview for all FEMA hazard ratings and flood coverage details.

In Minnesota, the statewide average premium for a standard HO-3 homeowners policy is $1,988 per year (NAIC, 2023 data).

Key figures

Median home value$663,400
Median year built1989
Owner-occupied share92%
Share of owner-occupied homes with a mortgage70%
Top county hazardTornado (Very High)
Active NFIP policies in Hennepin County959
Home insurance premium$1,988 - statewide average (NAIC, 2023 data)
Key home insurance figures for Independence, MN

Nearby towns

Sources

Data last updated: 2026-09-29