Holding nearly 17% of North Dakota’s population, Fargo has become the largest city in the state. Full of pioneering spirit, an arrow of cultural experiences and outdoor adventures, its no wonder why 122,000 people have decided to call it home.
If you own a home in Fargo, it’s a smart idea to invest in a top-notch homeowners insurance policy. You can find the coverage and price you need with an independent insurance agent. Find an agent now and discover how easy it is to find the right policy.
How Much Does Home Insurance Cost in Fargo, ND?
- National average yearly cost: $1,211
- North Dakota average yearly cost: $1,253
- Fargo, ND, average yearly cost: $1,738
Your homeowners insurance rate is going to look different than your neighbor's. Insurers will customize your quote based upon specific factors about you and your home. The best way to know if you’re getting a fair price is to comparison shop, and an independent agent will do this for you.
The insurance company will look into things like:
- The replacement cost of your home
- Your claims history
- What materials your home is made of and how old it is
- Your marital status
Will Your Home Insurance Protect You against Common Disasters in Fargo, ND?
It's important that when you purchase a homeowners insurance policy, it’ll cover the most common disasters that you face. Let’s look at the top five risks for homeowners in the state:
- Flooding and water damage
- Severe storms and lightning damage
- Heavy snow
- Tornadoes (an average of 32 per year)
- Burglary and other property crimes
In 2016, homeowners insurance paid out $203,795,000 due to covered damages. Your personal finances could be at risk if you don’t have enough coverage. Talk with an independent agent to make sure that you have enough coverage when disaster strikes.
Your Fargo Homeowners Insurance Excludes Flood Damage
It's important to note that your homeowners insurance policy does not cover damage caused by flooding. Flooding is the most common disaster throughout the state, causing huge financial damages to homes. For that, you’ll need a flood insurance policy. This will cover things, like:
- Clothing, furniture and electronics
- Your home and its foundation
- Refrigerators, cooking stoves, and built-in appliances
- Debris removal
Burglaries in Fargo, ND and Your Home Insurance
Your insurance premium will be impacted by the number of property crimes in your neighborhood. So the less likely burglary is, the lower your home policy will cost. Let’s look at the rate per 100,000 people:
- National burglary rate: 376
- North Dakota burglary rate: 358.4
- Fargo, ND burglary rate: 556.4
Fargo, ND, has a higher average for burglaries than other cities in the state, so it’s a good idea to have proper protection. Your home insurance policy will cover the damage caused by the break-in and some of your belongings that were taken, however, your policy does have a limit.
If you have expensive valuables such as art, jewelry, or antiques you may want to purchase additional coverage to make sure they’ll be covered if stolen. Enlist an agent to make sure your prized possessions are protected.
Does Your Fargo, ND, Home Have Liability Insurance?
As a homeowner, you’re responsible to make sure that your property is safe. For example, if someone slips and falls on your icy walkway up to the front door, you may be held responsible. Your homeowners insurance includes liability coverage to protect your financial assets if you’re legally responsible for damage to another person or property.
Your liability insurance will cover:
- The cost of repairs to another person’s property
- The cost of your legal fees if you are sued
- The medical expenses of an injured party
Liability coverage has a limit set at the time you purchase your home insurance policy. So if a severe injury happens due to your negligence, it may cost more than your coverage limit. An independent insurance agent can help work out how much liability coverage you need to make sure that your financial assets are protected.
Find an Independent Agent in Fargo, ND
When you work with an independent insurance agent, you’ll get the best of both worlds. They’ll find you top-quality coverage for a competitive price. Connect with a local independent agent in Fargo, ND, to get started.
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