ZIP 56576 Insurance Data

Data Snapshot: ZIP 56576 (Richville, MN)

ZIP 56576 (Richville, MN) shows an average homeowners insurance premium of $1,834 per year as of 2022, based on U.S. Treasury FIO ZIP-level observations across approximately 7 reported policies. That is 3% above the national average of $1,776 per year, placing this ZIP in the 68th percentile nationally. Compared to the Minnesota state average of $1,928, this ZIP runs 5% below, reflecting neighborhood-level differences in catastrophe exposure, property age, and claims history.

The loss ratio for ZIP 56576 is 33.9%, meaning insurers retained a working margin after claims. Claim frequency — the share of policies with at least one claim — is 5.53%, and the average claim severity (amount paid per claim) is $11,228.

Across 5 years (2018–2022), premiums in ZIP 56576 have risen by 8.2%, ranging from $1,689 to $1,834 with a five-year average of $1,741 — an annualized rate of +2.0% per year. FIO data aggregates voluntary reporting from the 40 largest homeowners insurers, covering roughly 80% of the U.S. market, so figures represent market averages rather than individual policy quotes; your own premium will vary with dwelling value, deductible, coverage limits, construction type, and insurer-specific underwriting. This page is educational research only and is not insurance advice — homeowners should request quotes from multiple licensed carriers or an independent agent before purchasing or renewing coverage.