Homeowners Insurance in North Dakota

Finding the best deal on your homeowner's insurance policy for your North Dakota property doesn’t have to be difficult. The cheapest city for homeowners to buy an insurance plan in North Dakota is Grand Forks, with the average price of a homeowners insurance policy starting $1,864 per year or $115 per month. Despite being the third-largest city in North Dakota, this premium is $264 less than the state-wide average but still above the national average compared to other states. This is also true for the city of Fargo, which averages a more expensive premium at $1948 but still falls below the average for the state. Both of these figures show that your insurance premiums are likely to be low if you live in an urban area but still above the national average for insurance premiums. If you live in a high-risk location, you may find yourself paying more to protect your home. Other factors that can affect your homeowner's insurance price include:
The age of your home.
The crime rate in your area.
The deductible you select for your policy.
The ability of your home to withstand potential incidents.
The dollar amount of your coverage plan.
You can influence the price by adding additional coverage, such as adding safety features to your property by creating a bundle of two policies from the same insurer or increasing your policy's excess. However, you should only increase the excess on your policy if you can cover more of the price of a potential claim.

A Basic homeowners insurance policy plan from one provider will likely include the same type of coverage options as one from another provider. You should compare all potential providers' coverage to the following list to see if you are being offered something unique from a certain provider or if another provider is lacking in coverage options. Firstly look for the term ‘dwelling coverage’; this is very important as it protects your home and any attached buildings. This coverage can include fixtures like plumbing, heating, and permanently installed air-conditioning systems, electrical wiring, and supplies on or adjacent to the residence premises for use in the construction, alteration, or repair of the dwelling or other structures not attached to the dwelling. Personal Property coverage protects the contents of your home and personal belongings. This coverage is limited for certain types of items that are particularly susceptible to loss, like cash, jewellery, and stamp or coin collections. Personal Liability and Medical coverage can cover you in the event of a household resident being injured on the property, but this coverage does not protect you in all situations, so make sure that you read the fine print in the event of a claim. Loss of Use coverage assists you with additional living expenses if a covered peril damages your home and you cannot reside in your property.

The average price of a homeowners insurance policy in the state of North Dakota is $1901 per year. This is $690 more than the national average, and this figure could increase depending on who you selected as your insurance provider. North Star has one of the most affordable insurance policies in North Dakota, with its cheapest coverage starting at $889 per year for their standard plans. They give substantial discounts to their returning clients, and their A.M. Best Financial Rating of A+ proves that they can consistently meet their policy and contract obligations. However, their overall customer satisfaction rating from J.D. Power is 3 out of 5, which falls just below average, so you may not be delighted with the service you receive from this provider. State Farm has an A.M. Best Financial Strength Rating of A++ and an NAIC Complaint Index score of 0.35. They have maintained the title of number one provider in the country for homeowners insurance for decades and are not only able to competently handle your claims, but they are also the provider who is most likely to remain solvent in the event of a natural disaster that may necessitate widespread claim payouts. Considering this, it is no surprise that their premiums are also significantly higher than other providers, averaging at $1245 per year for homeowner’s insurance coverage.