Average homeowners insurance cost in Fargo, North Dakota

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The average cost of homeowners insurance in Fargo is $2,988 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1000 deductible), based on Insure.com’s rate data analysis. It’s $406 more than the national average of $2,582 .

However, homeowners insurance rates can vary drastically from one home to another. Home insurance rates in Fargo depend on a number of factors, including:

The size of your home
The age of your home
The amount of coverage you need
Where you live
Your credit score

To make sure you are getting the best deal on home insurance, it is important to get quotes from multiple insurers to find the right coverage for your needs. Read this guide for more info on how much homeowners insurance costs per month in Fargo, home insurance costs for different dwelling coverage, and which companies offer cheap home insurance in Fargo.

Key Takeaways

The average cost of homeowners insurance in Fargo is $2,988 per year.
Agraria Mutual is the cheapest homeowners insurance company in Fargo with an average annual premium of $1,869 .
If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $673 more a year for home insurance.

Average homeowners insurance cost in Fargo per month

Residents of Fargo pay an average of $249 a month for homeowners insurance. It’s $25 less than the state average of $274 and $34 more than the national average for home insurance across the nation.

The cost of your homeowners insurance policy in Fargo may change based on location, property value, and selected coverage options.

Average homeowners insurance cost for a $200,000 house

Homeowners insurance with $200,000 in dwelling coverage and $100,000 in liability protection costs about $2,315 per year in Fargo. Your rate can vary based on a number of factors, especially the risk of natural disasters in your area. Places more prone to floods, hurricanes, or tornadoes often face higher rebuilding costs, which leads to higher insurance premiums.

It is important to note that your insurance plan may not cover flood or hurricane damage. So, if you live in an area prone to flooding, consider buying flood insurance coverage.

Average homeowners insurance cost for a $300,000 house

Fargo residents pay an average of $2,988 per year to insure a home for coverage limits of $300,000 dwelling, $100,000 liability with a $1,000 deductible. To increase your dwelling coverage from $200,000 to $300,000, you’ll pay an additional $673 per year.

The smartest approach is to carry enough insurance to cover the full cost of rebuilding your home.

Average homeowners insurance cost in Fargo by company

After comparing several homeowners insurance companies, Agraria Mutual offers the lowest rates in Fargo. Its average annual rate for homeowners in Fargo is $1,869 , while North Star Mutual is the second-cheapest.

Researching the insurance company is crucial before selecting a homeowners insurance policy. Our experts have analyzed all insurance providers in Fargo and compiled a list of the cheapest home insurance providers. Below, you’ll find the home insurance companies in Fargo and their average annual premiums.

Home Insurance Company	Annual rate
Agraria Mutual	$1,869
North Star Mutual	$1,998
Nodak Insurance	$2,194
Allstate	$2,324
American Family	$2,351
Country Financial	$2,637
State Farm	$2,728
Auto-Owners	$2,800
Farmers	$4,656

Bundling your home insurance with other policies, like auto insurance, can lead to significant savings. Insurance companies often offer discounts for customers who combine multiple policies. By bundling, you can reduce your premiums and manage your insurance needs with one company.

Natural disasters in North Dakota that can impact your home insurance

Living in North Dakota comes with the possibility of natural disasters that can cause serious damage to your home and belongings. From costly repairs to large insurance claims, the financial impact can be significant. That’s why it’s important to know which types of disasters are most common in your area before selecting a home insurance policy.

Understanding your local risks allows you to customize your coverage – whether that means adjusting your policy limits, choosing a higher deductible, or adding protection for hazards like floods or earthquakes. Planning ahead helps ensure you’re fully covered when it matters most.

North Dakota is commonly affected by Cold wave and Winter weather.

How home insurance protects you against natural disasters

Home insurance can provide valuable protection against the financial impact of natural disasters. Standard home insurance policies typically cover damages from fire, windstorms, hail and lightning. However, events such as floods, earthquakes or landslides are excluded and require purchasing additional policies or endorsements. For example, flood insurance must be purchased separately, as it is not typically covered by a standard home insurance policy.

Home insurance pays for home repairs, replacement belongings and temporary living expenses if your dwelling becomes uninhabitable due to damage. The protection offered by home insurance can significantly reduce the financial impact of natural disasters.

Check for coverage gaps before it’s too late

Many homeowners find out too late that their insurance doesn’t cover certain natural disasters. Be proactive – review your policy, ask your insurer about disaster-specific exclusions, and explore additional protection if you’re in a high-risk zone.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Fargo for $300,000 dwelling coverage and $100,000 liability coverage with a $1000 deductible. The data presented are those with a good credit tier alignment.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.