Updated: November 10, 2024
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The average cost of homeowners insurance in North Dakota in 2024 is $1,828. This figure is $595 less than the national average of $2,423.
Aside from the coverage amount, credit rating has the largest impact on premiums in North Dakota, with a difference of $1,797 between the lowest and highest premium amounts.
If your rates have recently increased, we've also analyzed the cheapest policies in North Dakota. Remember, the insurance provider you choose can also affect your premium costs.
MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — it’s free, no personal information required, no spam.
Rates updated:
Dec 20, 2024
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Table of Contents
To establish the average cost of homeowners insurance in North Dakota, MoneyGeek used quotes from various providers for a profile that reflects the average homeowner.
These rates reflect the average cost of home insurance in North Dakota as of 2024.
In North Dakota, the average homeowners insurance premium for a policy with $250K in dwelling coverage, $125K in personal property coverage and $200K in liability coverage is $1,828. This figure is less than the national average of $2,423.
Understanding how much coverage you need is key to protecting your investment. This includes sufficient insurance to rebuild your home, cover personal property and provide liability protection. For example, a policy with $100K in dwelling coverage averages $1,007 annually, while coverage of $500K in dwelling raises the average premium to $3,225, highlighting the correlation between the coverage amount and premium cost.
| $100K Dwelling / $50K Personal Property / $100K Liability | $1,007 |
| $250K Dwelling / $125K Personal Property / $200K Liability | $1,828 |
| $500K Dwelling / $250K Personal Property / $300K Liability | $3,225 |
| $750K Dwelling / $375K Personal Property / $500K Liability | $4,641 |
Home insurance premiums in North Dakota can swing widely from one insurer to the next for comparable coverage. For instance, North Star Mutual offers a policy at $1,391 annually, which is $437 less than the state average, while Farmers charges $2,533, exceeding the average by $705.
While North Star Mutual might be light on the wallet, Farmers could offer additional benefits that justify the higher cost. For homeowners looking for a balance of cost and coverage, great providers in North Dakota offer a range of options. Differences in underwriting criteria, such as the home's location and the insurer's risk assessment, lead to these price variations.
| North Star Mutual | $1,391 |
| Allstate | $1,479 |
| Agraria Insurance | $1,514 |
| COUNTRY Financial | $1,580 |
| American Family | $1,726 |
| Auto-Owners Insurance | $1,918 |
| State Farm | $2,482 |
| Farmers | $2,533 |
Homeowners in North Dakota with poor credit pay $3,282 annually for homeowners insurance, a stark contrast to the $1,485 paid by those with excellent credit. This difference of $1,797 showcases the impact of credit scores on insurance rates. Homeowners with below-fair credit see premiums soar to $2,666, which is $838 above the state average of $1,828, emphasizing the financial benefit of a healthier credit score.
While you may not be able to improve your credit score immediately, you can improve it over time to lower your rates. In the short term, you can compare insurers in less than 15 minutes to see which will save you the most.
| Poor | $3,282 |
| Below Fair | $2,666 |
| Fair | $2,224 |
| Good | $1,828 |
| Excellent | $1,485 |
The type of roof on your home can affect your insurance premium in North Dakota. Materials like tile roofs, which are more durable, may result in lower insurance costs. Conversely, less durable materials like shake-treated wood can lead to higher premiums.
Similarly, the construction type of your home influences the insurance rates. Homes constructed with materials that are more resistant to common perils, such as fire, often receive more favorable insurance quotes. Superior construction materials can lead to lower insurance costs compared to standard materials like wood frames.
Use the table below to see how premiums change based on your home's materials.
| $100K Dwelling / $50K Personal Property / $100K Liability | $1,007 |
| $250K Dwelling / $125K Personal Property / $200K Liability | $1,828 |
| $500K Dwelling / $250K Personal Property / $300K Liability | $3,225 |
| $750K Dwelling / $375K Personal Property / $500K Liability | $4,641 |
| $1M Dwelling / $500K Personal Property / $1M Liability | $6,042 |
When it comes to insuring a newly constructed home in North Dakota, homeowners can expect to pay an average annual premium of $1,198. This is lower than the average premium for existing homes, which is due to the advantages of modern materials and adherence to current building codes. The table below illustrates the premium differences for various coverage levels between new and existing homes.
| Existing Construction (2000) | $1,828 |
| New Construction (2023) | $1,198 |
In North Dakota, homeowners who have maintained a claim-free record for five or more years pay an annual premium of $1,828. This rate serves as the baseline for average home insurance costs in the state. However, filing just one claim within the past five years can increase the annual premium to $2,163, marking a $335 hike from the baseline. For those with two claims in the past five years, the annual premium jumps to $2,472, which is $644 above the average.
| Claim free for 5+ years | $1,828 |
| 1 claim in past 5 years | $2,163 |
| 2 claims in past 5 years | $2,472 |
In North Dakota, wildfires, flooding and tornadoes pose risks to homeowners. While standard homeowners insurance policies typically cover wind damage from tornadoes, they do not cover flood damage. To protect against flooding, homeowners may need to purchase additional flood insurance. Understanding what is and isn't covered can be useful, especially in a state where these natural disasters are common.
Getting a handle on the average cost of homeowners insurance in North Dakota doesn't have to be a headache. By understanding the lay of the land, you can find a policy that fits your budget. Remember, a smart choice today can lead to savings down the road. Here's how to find the best deal for you.
Ask about bundles or discounts when shopping for insurance.
Choose a deductible that fits your financial situation.
Pick an insurer with good customer service and claim support.
Buy the policy that offers the best value and coverage.
Homeowners in North Dakota can unlock savings by bundling their home and auto insurance policies, often referred to as a multipolicy bundle. On average, policyholders can save between $248 and $541 annually, with an average percentage savings of around 12%. For more detailed insights, explore MoneyGeek's analysis on the Best and Cheapest Home and Auto Bundle Companies in North Dakota, which provides a closer look at how bundling can impact your insurance costs in the state.
North Dakota residents can tap into various homeowners insurance discounts to manage costs. To maximize savings, inquire about available discounts when requesting a quote. Here are three notable discounts:
Learn more about how these and other discounts can lower your insurance expenses by visiting our guide on how to save with discounts.
The cheapest insurer in North Dakota on average is North Star Mutual, with premiums around $1,391. For more options, explore cheap national providers.
Flooding is not typically covered by standard homeowners insurance. Flood insurance is not typically included in a standard home policy. It can be purchased through the National Flood Insurance Program or a private flood insurer, and some home insurers offer it as an endorsement.
Credit rating is the biggest factor affecting homeowners insurance prices in North Dakota, with a difference of up to $1,797 between excellent and poor credit.
By bundling homeowners with auto insurance in North Dakota, you can save an average of 12%. For specifics, visit North Dakota's best home-auto bundle.
Navigating homeowners insurance in North Dakota can be streamlined with the right resources. Whether you're looking to understand the regulations, find affordable coverage or calculate your potential costs, these tools and guides can assist you in making informed decisions.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
