North Dakota Home Insurance

From photographs to furniture, your home houses not just you and your family, but your memories, keepsakes and valuables. It provides you with a sense of security, so you should protect it with North Dakota homeowners' insurance.

You don't have to settle for an expensive policy that strains your finances. After all, your North Dakota home insurance should make you feel comfortable and secure, not overextended. With the aid of InsureMe, you can comparison shop and find the policy that fits both your needs and your budget with little effort.

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Understanding North Dakota Home Insurance

In North Dakota, there are two main types of North Dakota homeowners' insurance.  A named peril policy provides coverage for a specific list of events, and an open peril policy provides coverage for all events except those expressly named in the exclusion clause. The latter likely costs more, but protects your home against more events.

• 2 Kinds of Named Peril Policies:

Basic Coverage Perils: Covers fire, lightening, windstorm, hail, explosion, riot, or civil commotion, aircraft, vehicles, smoke, vandalism and theft.

Broad Coverage Perils: Covers all basic perils, as well as volcanic eruption, falling objects, weight of snow, snow or sleet, collapse of building, accidental discharge or water or steam and sudden or accidental damage from an artificially generated electrical current.

Know Your Options

As a North Dakota homeowner, you have several options for home insurance. Although insurers may call these policies by different names, they offer similar coverage to those described below.

• Broad Policy (HO-2): This insures your home against loss or damage caused by broad coverage perils.
• Special Policy (HO-3): The most popular North Dakota home insurance, the special policy insures your home against broad coverage perils other than those named in the exclusion clause.
• Comprehensive Policy (HO-3/HO15 or HO-5): This is a more expensive and less widely offered policy that provides the broadest coverage for your home—against any event except those named in the exclusion clause.
•  Modified Coverage Policy (HO-4): There are certain standards that homes must meet in order to qualify for most types of North Dakota home insurance. However, if you live in an older home or one that doesn't comply with those requirements, this type of policy may be for you. It insures your home against only the basic perils. This type of insurance returns your home to an inhabitable condition, not necessarily to its condition prior to the event.

If you are a tenant or condo owner, you are vulnerable to the same types of events that you would be in a home and deserve coverage that will protect your belongings as well.

Choose From:

• Tenants/Renters Policy (HO-4): This protects your personal property against the broad coverage perils. Like homeowners' policies, it pays any medical expense, living expense and liability coverage.
• Condominium Owners' Policy (HO-6): Because in most cases the condominium association owns the building, this type of insurance will cover the part of the building you own—your condo! It also insures any additions you've made. Like a homeowners' policy, it pays any medical expense, living expense and liability coverage.

What's covered by your policy depends on the type you've chosen. It's important to remember that named peril policies only cover the basic or broad perils listed. The more comprehensive open peril policy covers anything except those things specifically excluded.

To ensure you have the right amount of coverage for your home and belongings, you may opt for additional coverage when purchasing your North Dakota homeowners' insurance.

A Few Add-Ons

• Higher Liability Limits: With most insurers, you can increase your limits to $100,000, $300,000, $500,000 and $1,000,000.
• Higher Medical Payment Limits: With most insurers, you can increase your limits to $1,000, $2,000, $5,000 or even $10,000.
• Higher Deductibles: Deductibles of $250, $500 and $1,000 are most commonly chosen by North Dakota homeowners who increase their deductible.
• Guaranteed Replacement Cost Coverage: If you totally lose your home, this upgrade covers up to 125 percent of your home's value.
• Home Inflation Guard Coverage: Inflation is inevitable, and this guard increases your coverage limit to adjust for it.
• Sewer Back-up Coverage: When you're up to your ankles in sewage, this drains down some of the expense caused by the back-up.

Prevent undue stress should disaster strike by letting InsureMe help you find a policy that will protect your pocketbook and your property.

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