Any place that can boast sub-zero temperatures in the winter, torrential downpours and hail storms in the spring and summer, and pitchfork fondue just about any time can easily be dubbed a risky environment for a residential structure. Perhaps that's why, while the Roughrider State's car insurance rates are the lowest in the nation, North Dakota home insurance quotes are a little higher than one might expect. The average cost of North Dakota home insurance is still under the national average, but statewide rates are far from the lowest in the country. This is not necessarily bad news, however, as there are many things you can do to lower the cost of your home insurance. North Dakotans looking to lower their existing rates or get the best premium on their first policy must first understand how insurance providers come up with their rates in the first place.
How North Dakota Homeowners Insurance Rates Are Determined
No matter what kind of insurance you're looking to purchase or what provider you're looking to purchase it from, the quote (and eventual rate) you end up with is determined by how risky your policy seems to the insurance company. The more of a risk you or your property seems, the higher your rates will be. For the most common type of home insurance, North Dakota residents pay an average of $742 a year; however, people and properties that are deemed riskier will have to pay more, while those who appear to be safer bets will get charged less.
Lowering North Dakota Home Insurance Premiums
Reducing the cost of North Dakota home insurance is not always easy, as many of the factors insurance companies view as risky just aren't going to change. For example, if your home is in the middle of downtown Fargo (or even downtown Bismarck), you will already have factors going against you that can't be changed unless you move your house somewhere else. On the other hand, improvements like installing burglar alarms, smoke detectors, and other safety equipment can easily be done anywhere, and will each play a role in lowering your home insurance rate.
North Dakota home insurance premiums can also be lowered by reducing the amount of coverage you have or increasing your deductible (the amount you pay out-of-pocket when an incident occurs). If you reduce the amount the insurance company has to pay when problems occur, they will, in turn, lower the amount you pay each year; if you raise your deductible from $500 to $1,000, the insurance company will pay out that much less in repairs, and will lower your yearly rates. Both reducing coverage and raising your deductible can make an impact on your monthly bills, but each can also leave you feeling a bit raw if an incident occurs (particularly if it happens right after you make the change). Thankfully, there is yet another way to lower North Dakota homeowners insurance rates.
North Dakota Homeowners Insurance Quotes: Your Ticket to Better Rates
Insurance companies are a bit like gamblers: One providers idea of a high-risk bet might seem a perfectly reasonable wager to another. This means that the same person living in the same house can be given very different rates depending on the provider. This is why getting multiple quotes is so beneficial for folks in North Dakota. Homeowners insurance quotes are not always going to vary dramatically from company to company, but in almost every case, there will be some variation; by getting quotes from several different companies, you may realize you've been paying hundreds more a year than another provider would charge you.
One of the best things about North Dakota home insurance quotes is this: The internet makes getting quotes from several local companies easier than ever. Instead of going through the phonebook and contacting individual insurance providers in your area, just type in your zip code, fill out a brief form, and you'll be able to see side-by-side home insurance quotes from several companies in your area almost instantly. Remember: getting quotes doesn't cost you a penny, but if one company is charging people in your situation significantly less than the company you currently use, not getting quotes might be running you hundreds of dollar each year.