Average renters insurance cost in Fargo, North Dakota

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Renters in Fargo, North Dakota pay an average of $195 per year for renters insurance – $5 less than compared to the state average of $200 annually.

Renters insurance protects your belongings against damage, theft, fire, smoke, and vandalism. It also provides liability coverage if you accidentally hurt someone or cause damage to their property.

What you’ll pay depends on your insurer, deductible, coverage limits, ZIP code, and any discounts you qualify for.

How to get the best deal for renters insurance in Fargo

Request quotes from at least three different insurers – pricing varies significantly, and the savings from switching can reach hundreds of dollars a year.
Combine your renters policy with your auto or another insurance policy at the same company to qualify for a bundling discount.
Consider raising your deductible from $500 to $1,000 – it can reduce your annual premium by $13.
Inquire about discounts for home safety features like deadbolts, smoke alarms, or a monitored security system.
Opt to pay your premium annually rather than monthly – most insurers reward this with a lower rate.

What is the average cost of renters insurance per month in Fargo?

Renters insurance costs in Fargo depend on both your insurer and the coverage level you choose. The average monthly rate for a policy with $20,000 in personal property coverage and a $1,000 deductible is $12.

Stepping up to $40,000 in personal property coverage adds roughly $4 more per month, bringing the typical premium to $16 – which includes $40,000 in personal property coverage, $100,000 in liability protection, and a $1,000 deductible. That’s $1 less than the state average of $17.

Key takeaways

Renters insurance protects your personal belongings and provides liability coverage within your rental
The average annual cost of renters insurance in Fargo is $195
State Farm has the most competitive rates in the city
Your premium is influenced by your insurer, coverage limits, ZIP code, and available discounts
If you own valuable items like jewelry, electronics, or furniture, higher coverage limits are worth considering

How much is renters insurance in Fargo? Rates by deductible

For a policy with $20,000 in personal property coverage and a $500 deductible, renters in Fargo pay an average of $154 per year.

Your deductible is the share of a claim you cover before your insurer pays the rest. It’s also one of the most direct levers for controlling your premium – raising it from $500 to $1,000 can knock $13 off your annual cost.

The table below shows how premiums change across different personal property coverage amounts and deductible levels.

Deductible	Rates with $20,000 personal property	$40,000 personal property	$60,000 personal property
500	$154	$214	$268
1000	$141	$195	$243

Who offers affordable renters insurance in Fargo?

For the lowest rates in Fargo, State Farm leads the way at $140 annually or $12 per month. Nodak Insurance is the next most affordable option, followed by American Family.

Below is a comparison of the most affordable renters insurance providers in Fargo, including average annual and monthly rates.

Renter insurance provider	Average annual rate	Average per month rate
State Farm	$140	$12
Nodak Insurance	$152	$13
American Family	$161	$13
North Star Mutual	$184	$15
Allstate	$193	$16
Country Financial	$209	$17
Auto-Owners	$224	$19
Agraria Mutual	$228	$19
Farmers	$229	$19

How to lower the cost of renters insurance

You can lower the cost of renters insurance by shopping around, bundling policies, and going for a higher deductible.

Bundle policies. Grouping your renters policy with your auto or other insurance at the same company can lower what you pay across the board.
Increase your deductible. Choosing a higher deductible brings your premium down immediately – just be certain the amount is something you could manage out of pocket following a claim.
Choose the right coverage amount. Revisit your coverage limits annually. If your personal belongings haven’t grown in value, you may be spending more on personal property coverage than necessary.
Avoid filing small claims. Repeated small claims can cause your rates to climb faster than one large claim would. For minor incidents, absorbing the cost yourself often makes more financial sense.
Improve your credit score. Credit scores influence insurance pricing in most states – a higher score is one of the clearest ways to bring your premium down over time.
Compare quotes every renewal. Rates evolve year to year, and loyalty doesn’t always pay. Setting aside 30 minutes to shop around at renewal can save you a meaningful amount annually.

Renters insurance replaces belongings that are stolen or damaged, and covers your financial exposure when you’re liable for someone else’s loss. Comparing providers and claiming every discount you qualify for are the most reliable ways to keep your premium in check.

Frequently asked questions

Is renters insurance required in Fargo?

No state law mandates it, but your landlord may. Regardless, having coverage protects your belongings and shields you from liability if a guest is injured in your home.

What does renters insurance cover?

A renters policy covers personal belongings that are stolen or damaged, liability claims you’re responsible for, and temporary living expenses if a covered event makes your rental uninhabitable.

How much renters insurance do I need?

Enough to replace everything you own if it were stolen or destroyed. If you have high-value items like electronics, furniture, or jewelry, consider higher limits or scheduled coverage for those specific items.

Who has the cheapest renters insurance in Fargo?

State Farm offers the lowest average rates in Fargo at $12 per month.

Methodology

Insure.com partnered with Quadrant Information Services to collect renters insurance rate data for Fargo, based on a policy with $40,000 in personal property coverage, $300,000 in liability coverage, and a $1,000 deductible. All rates correspond to a good credit tier profile.

How much is renters insurance in other cities?

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Alisha Ambre

Alisha Ambre holds a Bachelor of Arts with honours in English Literature and Media Studies. She focuses on crafting clear, engaging content that makes complex information feel practical and approachable for everyday readers. When she’s not writing, she’s likely on the volleyball court or immersed in a good video game.