Annual auto insurance premiums in North Dakota averaged $1256 in 2010, which is the last year that reliable statistics are available. Since the national average for the same period was $1528, North Dakota can be considered one of the less expensive states for car insurance.
Annual Changes
North Dakota auto insurance rates have decreased 9% between 2009 and 2010. The North Dakota insurance market allows for each insurer to set its own prices and there is no fixed state or industry price. As rates are subject to change and patterns are not predictable, finding the lowest rates for auto insurance in North Dakota is made easier by checking this site regularly to get pricing news and obtain multiple quotes.
Seasonal Changes
Annual premiums in North Dakota rose sharply in May 2010 but returned to former levels in June. Then, July showed an increase followed by a decrease in August and a further decrease in September. In October rates rose again before decreasing and then stabilizing for the winter. North Dakota auto insurance rates can change rapidly so that obtaining current information and periodic new quotes is highly recommended.
Insurance Requirements
The no-fault system is effect in North Dakota. State insurance regulations require property damage insurance and personal injury protection coverage as well as bodily injury liability cover. The minimum amount of bodily injury coverage is set at $25,000 per person and $50,000 per accident, with a required minimum of 25,000 for property damage liability coverage. No-fault personal injury protection is also required by the state, with a minimum limit of $40,000. Uninsured and underinsured motorist coverage for bodily injury is also mandatory, and limits are $25,000 for each person and $50,000 for each accident. Higher coverage limits are recommended in order to protect assets in the event of a serious accident.
Advice for Getting the Best Deals
In North Dakota, both regional and national firms issue auto insurance policies. It is not possible to determine which firm offers the best rates overall as each firm uses different methods of determining rates for each driver and car. Obtaining multiple quotes from reliable insurance companies that are rated A or higher by A. M. Best is highly recommended. In addition, it is advised to consult the J. D. Power ratings to obtain consumer satisfaction data for each company.
Information on current rates as well as multiple quotes from top car insurance companies are available on this site, making it the best resource for North Dakota drivers who are looking for the lowest insurance rates.
