Home Insurance in Grand Forks, ND
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Finding Home Insurance in Grand Forks, ND
If you are one of the nearly 59,000 people who call Grand Forks home, you are already familiar with the many charms of North Dakota's 3rd largest city. The variety of amenities, from rich cultural activities to trendy restaurants, sports teams, and outdoor adventures, draws many different age groups to the area. The population has increased by 8.5% in the last 13 years, and as more folks are choosing to put down roots by purchasing a home in the area, the importance of reliable home insurance grows. VIU by HUB can assist you in finding the best coverage in the city.
With a median household income of $66,519 and per capita income of $33,845, the average price of $252,708 for a house in Grand Forks may be a stretch for many families. In fact, the city's homeownership rate is only 43.7%, well below the national average of 64.6%. The purchase of a home is a big financial commitment, so it is important to protect this investment with an affordable home insurance policy.
In Grand Forks, the tornado risk is 21% below the national average. and the risk of earthquake activity is 22% below the national average; however, the area has had more than its fair share of natural disasters. Compared to the U.S. average of 15 natural disasters, the county of Grand Forks has experienced 34; 27 of these disasters were presidentially declared, while four were local emergencies. Most of the disasters came from floods, but snow and other types of storms also caused issues.
Cost of Home Insurance in Grand Forks
The average homeowner in Grand Forks pays $1895 annually for home insurance. This is more than 10% below the state average, but only slightly above the national average. The actual cost you pay depends on numerous options, including the type of coverage you decide on, any add-ons you agree to, and numerous other factors based on your property and your personal history as an insured individual. VIU by HUB can help you compare rates from area insurance providers to choose the best rate for your situation and needs.
Risks to Homes in Grand Forks
Founded in 1872, Grand Forks maintains a historic riverfront area with more than 70 homes over 100 years old. Older homes are often a fire hazard, which may impact the cost of home insurance policies.
Homeownership in Grand Forks also carries higher risk due to an elevated crime rate. With a total crime index of 12 on a 100-point scale, Grand Forks has a 25.89 property crime rate, indicating that one in 39 residents will fall victim to property crime. This is also reflected in the cost of home insurance in Grand Forks, ND.
Home Insurance Options
Particulars of home insurance policies vary, so you should verify your coverage carefully. Home insurance in North Dakota generally covers the following:
- Personal belongings and home contents
- Personal liability, covering injury or damage to another's property
- Damage to personal property, including the primary residence and detached structures like sheds or garages
- Temporary living expenses if the home is rendered uninhabitable
With the risk of natural disasters in the Grand Forks area, it is particularly important to verify the coverage of natural disasters. Flooding, in particular, is a big risk area, and basic home insurance policies rarely cover flooding. However, this coverage may be added on.
When searching for the best home insurance in Grand Forks, ND, to meet your needs, VIU by HUB can help with quote comparison tools. Enter your basic information, and multiple quotes from various providers will be at your fingertips in moments.
This information is intended for general informational purposes only and is not intended to constitute legal advice.