Average homeowners insurance cost in Minot, ND

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In Minot, homeowners pay an average annual rate of $3,004 for a coverage level that includes $300,000 for dwelling, $100,000 for liability protection, and a $1,000 deductible, according to Insure.com’s rate analysis. This is $422 more than the national average of $2,582.

Homeowners insurance premiums can vary significantly from one property to another. In Minot, the cost of home insurance is influenced by several factors, including:

Size of your home
Age of your home
Amount of coverage required
Location
Your credit score

It’s crucial to compare quotes from multiple insurers to ensure you get the best homeowners insurance policy. This allows you to find the coverage that meets your specific needs.

Read this guide to discover the monthly homeowners insurance cost in Minot, explore the insurance costs for different dwelling coverage, and find out which companies offer affordable home insurance in Minot.

Key takeaways

The cost of your homeowners insurance policy in Minot can vary based on factors such as your location, the value of your home, and the coverage options you select.
North Star Mutual is the cheapest homeowners insurance company in Minot with an average annual premium of $1,937.
If you increase your dwelling coverage from $200,000 to $300,000, you will pay $679 more, annually for home insurance.

Average homeowners insurance cost in Minot per month

According to Insure.com’s rate analysis, residents of Minot pay an average of $250 per month for homeowners insurance. This is $24 less than the state average of $274 and $35 more than the national average for home insurance across the United States. The cost of your homeowners insurance policy in Minot can vary depending on your location, property value, and selected coverage options.

Average homeowners insurance cost for a $200,000 house in Minot

In Minot, ND, homeowners pay an average of $2,325 annually for a $200,000 house. The amount you pay for home insurance each year depends on factors such as – natural disasters or events within your locality.

Some regions are more at risk for natural disasters, like floods, hurricanes, or tornadoes, implying higher rebuilding rates in these areas are higher, resulting in higher insurance premiums. It’s essential to note that your insurance policy might not cover damages caused by floods or hurricanes. If you reside in an area prone to flooding, consider buying flood insurance.

Average homeowners insurance cost for a $300,000 house in Minot

As per rate analysis by Insure.com, homeowners residing in Minot typically pay an average of $3,004 annually to insure a home for coverage limits of $300,000 dwelling, $100,000 liability protection with a $1,000 deductible.

Your home insurance rates will be increased by $679 if you increase your dwelling coverage from $200,000 to $300,000. It is advisable to buy enough insurance sufficient insurance to cover the entire cost of rebuilding your home. However, the amount of dwelling coverage you need may vary depending on the size of your home, the features in your home, and the cost of living in your area.

Average homeowners insurance cost in Minot by company

Among the carriers analyzed, North Star Mutual is the most affordable homeowners insurance company in Minot, offering an average annual rate of $1,937.

Agraria Mutual ranks second, while Nodak Insurance holds the third spot with an average annual rate of $2,263.

Researching a company thoroughly before selecting a homeowners insurance policy is essential. Insure.com has meticulously reviewed all insurance companies operating in Minot and compiled a list of the most affordable options.

Below are the details of home insurance companies in Minot and their average annual premiums.

Home Insurance Company	Annual rate
North Star Mutual	$1,937
Agraria Mutual	$1,988
Nodak Insurance	$2,263
American Family	$2,305
Allstate	$2,366
State Farm	$2,855
Country Financial	$2,948
Auto-Owners	$3,020
Farmers	$4,455

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Minot for $300,000 dwelling coverage and $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.