UPDATED: Mar 13, 2020
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Cheap Car Insurance in Fargo, ND
Are you in need of auto insurance in Fargo? From AutoInsuranceEZ.com, you could get the lowest cost insurance policy close to you. To find free car insurance quotes from the leading providers right now, provide your local zip code in the quote box in this posting.
As the largest city in all of North Dakota, has a rich history and dynamic culture. The city was originally founded during the heyday of the Northern Pacific Railway as a transportation hub for the wheat industry. And although agriculture as a business has waned in recent years, agricultural research is still an important part of Fargo’s economy. The city has also earned several awards from Money Magazine for being one of the country’s “most livable” cities.
- Fun fact: are we there yet? Because Fargo is #8 on the list of “Top 100 cities with shortest commuting times (pop. 50,000+)”.
Auto Insurance Coverage Requirements in North Dakota
Driving legally in Fargo requires:
|Bodily Injury Liability||25,000/50,000||100,000/300,000|
|Property Damage Liability||25,000||100,000|
|Uninsured Motorist Bodily Injury||25,000/50,000||100,000/300,000|
|Underinsured Motorist Bodily Injury||Not required||100,000/300,000|
|Collision||Not required||500 deductible|
|Comprehensive||Not required||250 deductible|
However, keep in mind that purchasing the state mandatory minimum insurance coverage is extremely limited in what claims it will pay out. For theft, vandalism, or an accident that is the other driver’s fault, your insurance will not cover you.
The average motorist in North Dakota might find themselves paying as high as $143 per month for their automotive insurance – while smart Fargo drivers can get great deals as low as $30*/mo! To learn how to become one of these few, keep reading.
State Auto and Liberty Mutual have some of the most affordable rates for Fargo drivers currently. However, there’s more to good automotive insurance coverage than a low monthly rate. Do they have friendly customer service? Will they pay out on claims as outlined in your agreement? Make sure you get good background information on all your prospective insurance companies before you make a final decision.
Auto insurance providers consider many elements when determining quotes, such as driving experience, driving violations, type of vehicle owned, miles driven each year, and business use of the vehicle. Furthermore, premiums differ from carrier to carrier. To verify you are still getting the cheapest fee, examine cheap Fargo auto insurance rates over the internet.
Major Car Insurance Factors in Fargo
There is a number of many things that can factor into the rate quotes you get. Although many specific details aren’t actually something you can do something about, some of them are variables which you can change for the better. Here are a few factors which may change your automobile insurance premium:
Your Zip Code
Most of the time, the lowest priced car insurance is generally associated with metropolitan areas having a smaller population density. Because there are a lesser number of cars on the streets, there are a lot fewer opportunities to get into a serious car wreck with a different motorist. The population of Fargo is actually 113,658 plus the typical household income is $44,845.
Take a look at the serious accident statistics in the chart above. The more accidents that happen in your area, the more likely it is that your monthly premiums will rise. Of course, you can always contact your insurer and ask about Safe Driver discounts.
Auto Thefts in Fargo
Automobile theft is a major problem, specifically in highly populated urban centers. If your locale and/or vehicle model put you at a greater risk for theft, you could have trouble finding low-cost car insurance. The full number of stolen automobiles in Fargo was 166 for the year 2013. To protect yourself from automotive theft, make sure your policy has some form of Comprehensive coverage on it.
Your Credit Score
Your credit score can have a bigger impact on your monthly premiums than you might think. Just look at the data presented in the following chart. For someone with excellent credit, their monthly premium might be anywhere from 50-75% cheaper than the monthly costs for someone with poor credit.
Young, inexperienced drivers will generally be charged much higher rates per month than someone in their 30’s, 40’s, or beyond. The less experience you have behind the wheel, the more likely you are to cause an accident. Charging teenage drivers a higher premium is the insurance company’s way of offsetting potential expenses.
Your Driving Record
Another major factor which influences your auto insurance premiums is your driving record. For minor violations, such as a speeding ticket or a “fender-bender”, you insurance will increase somewhat (anywhere between 18-30%, depending on the violation). However, some companies with an “Accident forgiveness” policy may ignore past discrepancies from your record. But for more serious violations, such as a DUI, your car insurance rates could double in price virtually overnight. Some major providers might discontinue your coverage entirely for being cited with a DUI or a reckless driving violation.
Generally speaking, the only major factor which auto insurance companies care about is how much it will cost them to replace your car in the event of a serious accident. Because luxury vehicles, such as porches, are so much more expensive than regular sedans, you can see in the chart above that monthly premiums for these automobiles are much higher.
Minor Car Insurance Factors in Fargo
In North Dakota, as well as in many other states, you might be able to squeeze out some additional discounts by looking into these factors below:
Your Marital Status
For single policies, marital status is a negligible factor when determining your premiums. However, married couples have the option of bundling their policies together. Most insurance providers will offer substantial discounts for this.
Think men are terrible drivers? Well, your insurance provider will most likely beg to differ. Many companies these days are offering the exact same monthly premiums, regardless of gender. And providers who charge different premiums for men and women only do so by a few dollars per month.
Your Driving Distance to Work
While the average commute time in Fargo will probably last between 12-15 minutes each way, 15-20 minute commutes are not all that rare either. Most drivers (82%) will drive to work alone in their own vehicle, while 3-11% will carpool.
Some companies will adjust your rate based on why you drive, or how far you drive each year. Even though your provider might request this information from you, driving a few thousand miles each year for pleasure tends to cost about the same as driving tens of thousands of miles for work, give or take a few percentage points. However, if your automobile is registered as a business vehicle on your insurance policy, you could be looking at 10-15% higher premiums each month.
Your Coverage and Deductibles
Obviously, someone who only buys the state minimum mandatory coverage will pay less per month than a driver with additional coverage on their policy. If you feel you need more than the mandatory minimum coverage, but don’t want to pay expensive premiums each month, try raising your deductible. This is especially economical for safe drivers who don’t anticipate a need to file multiple claims.
Education in Fargo, ND
Fargo is a highly educated city where nearly one-quarter of the population possesses a bachelor’s degree. This is good news if you’re looking to lower your car insurance rate, because providers love giving discounts to motorists who have accomplished a higher education. Additionally, 21% of residents have earned their high school diploma.
About a dozen vocational schools and three major universities operate within the major Fargo metropolitan area. The Fargo campus of North Dakota State University educates well over 10,000 students each year, offering a variety of four-year and higher level degrees. Tri-College University allows students to take classes and nearby colleges for no additional charge. For a specialized degree, you may also be interested in Moorhead Technical College. Read up on Fargo by clicking here.
Analyzing your own financial risk can be quite challenging or inconceivable for the typical insurance consumer. Insurance agencies possess an edge on consumers due to their research and experiential know-how. Find out the things insurance agencies don’t wish for people to know.
How We Conducted Our Car Insurance Analysis
*We calculated our average rate based on the following metrics: a married, 34 year old male with good credit, a 12-month history of maintaining auto insurance, a clean driving record, who owns his own home. Miles driven annually were based on the national average. The average rate was also calculated based on a financed 2015 Honda Accord with a pre-installed anti-theft device.
You can easily calculate YOUR car insurance risks simply by putting in Zip Code into the calculator below.