Find the Best Homeowners Insurance Rates & Companies in North Dakota
Home insurance costs, on average, about $1,253 per year in North Dakota. This is a bit higher than the current national average of $1,211 per year. Residents in North Dakota may pay slightly more for coverage than those in many other states, but having protection for your home is still critical.
The current average home value in North Dakota is $238,509. With your home being such a large initial investment, it's extremely helpful to protect it with the right coverage. A home insurance policy can help you recoup large financial losses after various property disasters like fires.
Fortunately, an independent insurance agent in North Dakota can help get you equipped with the right kind of home insurance for you. But up first, here's a deep dive into home insurance requirements and more in North Dakota.
Best Homeowners Insurance Companies in North Dakota
If you're looking for the best home insurance in your area, it only makes sense to start with the best home insurance companies around. To simplify the process for you, we've put together a list of the best home insurance companies in North Dakota. To start off, here are just a handful of our top picks.
- Progressive: Founded in 1937, Progressive sells home insurance and tons of other products. The carrier has an excellent financial strength rating from AM Best and offers 24/7/365 customer service and many discount options.
- Travelers: Founded in 1864, Travelers also sells home insurance and many other coverages. The insurance company has the highest possible financial strength rating of "A++" from AM Best and provides top-notch customer service.
- Acuity: Founded in 1925, Acuity sells home insurance and tons of other personal and business coverages. The insurance company has an "A+" or superior rating from AM Best and offers 24/7 claims reporting.
- Nationwide: Founded in 1926, Nationwide sells home insurance coverage and tons of other personal and business products. The carrier has highly customizable policies and an "A+" rating from AM Best.
A North Dakota independent insurance agent can help you find the right home insurance policy for you from one of these top-rated carriers in the state.
What Can Homeowners Insurance in North Dakota Cover?
Some of the most common natural disasters in North Dakota are floods, severe storms, winter storms, and wildfires. Without the protection provided by a home insurance policy, you could end up paying out of pocket for damage or destruction to your home caused by one of these natural disasters. Though home insurance doesn't cover natural flood damage, it can provide reimbursement for damage caused by many of these other natural perils.
Severe Storms, Winter Storms, and Wildfires
A regular North Dakota home insurance policy can protect you from financial losses if your home gets damaged or destroyed by severe storms, winter storms, or wildfires. Home insurance covers lightning strikes and resulting fires, snow and ice damage including roof collapses, and fire damage.
Flood Damage in North Dakota
A flood insurance policy, which is a separate coverage, is required to protect your home against losses caused by natural flood sources. Heavy rainfall, tsunamis, and melted snow and ice are just a few causes of natural flooding not covered by standard home insurance. Talk with a North Dakota independent insurance agent about adding flood coverage to further protect your home.
Basic coverages found in many North Dakota home insurance policies include:
- Loss of use: Can pay for losses caused by the homeowner needing to live elsewhere while the home undergoes repairs from a covered disaster like a fire.
- Dwelling: Can pay for the repair or rebuilding of the home's structure if it gets damaged or destroyed by a covered peril like a lightning strike.
- Personal liability: Can pay for legal costs like courtroom and attorney fees if you get sued by a third party.
- Personal property: Can pay for the replacement or repair of your personal property, like furniture, if it gets stolen, vandalized, damaged, or destroyed by a covered peril.
A North Dakota independent insurance agent can help you find a home insurance policy that covers everything you need it to.
What Won't Homeowners Insurance in North Dakota Cover?
Flood damage and earthquake damage are two natural perils not covered by home insurance in North Dakota, as well as across the US. To get protection against earthquakes, speak with a North Dakota independent insurance agent about adding earthquake coverage to your home.
Other perils not covered by North Dakota home insurance are:
- Malicious or intentional acts against others
- Incidents involving personal vehicles
- Business losses (without the appropriate endorsement)
- Insect or pest damage
- Routine maintenance costs
- Failure of the homeowner to maintain the home
Flood damage in North Dakota
Not only is flooding caused by natural sources like rainfall not covered by home insurance, but flooding caused by sewer breaks and backups is also not covered. If you want protection for your home against sewer disasters, talk with a North Dakota independent insurance agent about adding a sewer backup endorsement to your home insurance policy.
Average Cost of Homeowners Insurance in North Dakota
North Dakota's home insurance rates average a bit higher than those in many other areas in the nation. North Dakota overall ranks 19th highest for home insurance rates in the US, at an average of $1,253 annually. This is a bit more expensive than the current national average of $1,211 annually.
Average North Dakota Home Insurance Costs by City
The city you live in also influences your home insurance rates. Many factors go into home insurance costs, including local property values, local crime rates, severe weather risks in the area, and more. In North Dakota, home insurance tends to be most expensive in the city of Bismarck, where rates average $1,381 annually. On the other hand, home insurance rates tend to be cheapest in Watford City, at an average of just $904 annually.