Compare Homeowners Insurance Quotes In North Dakota

On average, your neighbors pay $95 a month.

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Best Home Insurance Rates In North Dakota

North Dakota is our nation’s largest producer of beans, flaxseed, honey, and sunflower oil. It's been called the “best-run state in the country”. That said, The Peace Garden State is located at the north end of Tornado Alley, posing some homeowners insurance risks.

Average North Dakota Homeowners Insurance Rates

North Dakota’s average insurance premiums are slightly higher than the rest of the country. According to the most recent available data from the Insurance Information Institute, in 2014, the average cost of homeowners insurance in the state of North Dakota was $1,136, not much lower than the national average of $1,132. Twenty one states have higher average homeowners insurance rates than North Dakota.

North Dakota Average Annual Homeowners Insurance Rates
  2012 2013 2014
North Dakota Annual Average $1,038 $1,078 $1,136
North Dakota Price Per Month $86 $90 $95
US Annual Average $1,034 $1,096 $1,132
US Cost Per Month $86 $91 $94
National Rank 18 23 22
Source: http://www.iii.org/fact-statistic/homeowners-and-renters-insurance

Choosing a homeowners insurance company in North Dakota should be easier. Actually, it’s already easy; you could just go with whichever company your mortgage lender recommends, but you probably won’t get the best rates that way. The key to finding the cheapest homeowners insurance rates in North Dakota is to compare quotes from multiple companies.

Best North Dakota Home Insurance Companies

Last year, these were the most common home insurance companies reported by QuoteWizard users living in the state of North Dakota. Out of the 1,699 North Dakota homeowners that used QuoteWizard to request insurance quotes last year, 102 had no home insurance.

  1. American Family
  2. Progressive Casualty
  3. Allstate Insurance
  4. Geico
  5. MetLife
  6. USAA
  7. 21st Century Insurance
  8. Country Financial
  9. AAA Insurance Co.
  10. Hartford Insurance Co.
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Why contact every individual company in North Dakota that you want a homeowners quote from when you can just answer a few questions about your home and desired coverage, and get competing quotes from agents? Save time and money with QuoteWizard.

Top 10 North Dakota Home Insurance Company Market Share

Source: National Association of Insurance Commissioners
Rank Company Direct Premiums Written (in thousands) Market Share
1 American Family $22,986 12.26%
2 Farmers Union Mutual Insurance $16,745 8.93%
3 Nodak Mutual Group $14,397 7.68%
4 Auto Owners Owners Group $14,228 7.59%
5 Farmers Insurance $11,225 5.99%
6 North Star Company Group $10,654 5.68%
7 Metropolitan Group $6,126 3.27%
8 USAA $5,703 3.04%
9 Country Financial $5,654 3.02%

Financial Strength Ratings of Top North Dakota Home Insurers

Source: A.M. Best (Ratings as of 8/5/2015)

  • Workforce Safety & Insurance Co. of ND: NR
  • QBE Insurance Group: A
  • ACE Limited Group: A++
  • Wells Fargo Insurance Group: A+
  • Nodak Mutual Insurance Co.: A
  • American Financial Group: NR
  • American Family Insurance Co.: A+
  • Progressive Group: A+
  • GuideOne Mutual Insurance: A
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Rating Guide

North Dakota Property & Casualty* Insurance Company Market Share

Source: Insurance Information Institute
Rank Company Direct Premiums Written (in thousands) Market Share
1 Workforce Safety & Insurance Co. of ND $350,872 12.0%
2 QBE Insurance Group $311,161 10.7%
3 ACE Limited Group $287,129 9.8%
4 Wells Fargo Insurance Group $248,006 8.5%
5 Nodak Mutual Insurance Co. $141,128 4.8%
6 American Financial Group $94,378 3.2%
7 American Family Insurance Co. $84,200 2.8%
8 Progressive Group $74,217 2.5%
9 GuideOne Mutual Insurance $69,707 2.4%
*Represents both home and auto insurance

Home Insurance Rate Factors

Many different factors come into play when insurance companies calculate the cost of homeowners insurance. Some, like the age of your home, are within your control. Others, like crime rates or natural disasters, are beyond your control. Here are some of the factors that affect the cost of homeowners insurance in North Dakota.

Average Home Listing Prices

Home prices can greatly affect the cost of insurance in any given state. A higher average home price generally means higher premiums in that state. For North Dakota, the average listing price is $244,124 as of July 2015, a bit lower than the national average of $284,748.

Average Burglary Rates

Burglary is a serious and sometimes violent property crime. States with higher average burglary rates generally have higher average home insurance premiums, because the likelihood that someone will need to file a claim is higher. According to data from the FBI Uniform Crime Report, in 2013, North Dakota’s average burglary rate was 405.6 per 100,000 people, which is much lower than the national average of 610.0 per 100,000.

States with more law enforcement per capita tend to be safer than states with fewer policemen and women. In North Dakota, there are 25.6 law enforcement personnel per 100,000 total citizens, slightly lower than the national median of 32 per 100,000.

Home Insurance Hazards

North Dakota’s climate is typical of the Midwest, as it sits atop the entire region. While the size of the state leads to some variation from east to west, by in large, the climate is fairly uniform. North Dakota’s climate leads to several homeowners insurance hazards, mostly due to extreme weather and severe winters.

Extremely cold winters: In North Dakota, winter starts as early as November, and can last through April. Typically, January is the coldest month of the year. Throughout the state, high temperatures in January are about 20 degrees, and lows range from -4 degrees to 6 degrees, and the record cold temperature in North Dakota is -60 degrees. Average low temperatures stay below freezing until April, when most areas finally break freezing. North Dakota’s cold winters contribute to its extremely low average year-round temperature of 40 degrees, making it the second-coldest state after only Alaska. North Dakota winters are also quite snowy, and the state averages 45 days of snow per year, and about 51 inches of snow per year. That said, actual snowfall varies greatly in different parts of the state, to the east, in Fargo, the average is 38 days of snow per year and about 50 inches of snow annually. On the west end, in Medora, they average only about 19 days of snow per year, and about 30 inches annually. Snowfall is largely due to blizzards, which are a common weather event in winter in North Dakota. Low pressure storms move south from Canada, mixing with North Dakota’s humid air, creating severe storms. Because air on the eastern end of the state is more humid, they experience more blizzards and other storms, and therefore have higher average snowfall.

Thunderstorms: The same conditions that make North Dakota so prone to blizzards in the winter also make it susceptible to thunderstorms in the spring and summer. Precipitation is not extremely high in North Dakota--the annual average is about 18 inches, though it varies within the state. In Fargo, they average 106 days of rain per year and about 23 inches annually. To the west, at the Pretty Rock Wildlife Refuge, they average only 74 days of rain per year, and about 16 inches of rain. June is the wettest month of the year, and about a quarter of all yearly rainfall happens during this month. Throughout the state, June averages about 11 days of rain, and close to 4 inches of rain. As humidity increases in the summer, so does the likelihood of thunderstorms. As such, North Dakota averages 28 days of thunderstorms per year. These thunderstorms can be quite severe, including heavy rains, strong winds, thunder and lightning, and can cause tornadoes and flash floods. The mostly flat terrain throughout the state permits for flooding, and it’s important to note that the only way to obtain flood insurance is through the National Flood Insurance Program. Learn more about the NFIP here.

Tornadoes: Spring and summertime thunderstorms can often give way to tornadoes, especially because North Dakota sits at the very top of Tornado Alley. According to the National Oceanic and Atmospheric Administration, North Dakota averages 20 tornadoes per year. Tornadoes are the most violent kind of storm, especially when coupled with a thunderstorm. A tornado can uproot trees, and severely damage property, and a severe tornado can flip cars and rip buildings from their foundations. Strong tornadoes are marked by winds around 100 mph and the ability to travel miles before slowing. July is when tornadoes are most common, but can occur between April and October.

North Dakota Office of the Insurance Commissioner

Website:
Homepage
Insurance Commissioner:
Adam Hamm
Insurance Hotline:
(800) 247 – 0560
Office Hours:
Monday - Friday
9:00 am to 5:00 pm
File a Consumer Insurance Complaint
Complaint Page

Sources:

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