Is Nodak Auto Insurance Good?
Last Updated on October 15, 2021
Nodak Insurance Company is a North Dakota-based insurer founded in 1946.
Today, Nodak offers a range of insurance products while maintaining its status as one of North Dakota’s leading insurance companies.
Is Nodak auto insurance good? Should you buy car insurance through Nodak? Find out everything you need to know about Nodak auto insurance today in our review.
Table of Contents:
- About Nodak
- Nodak Insurance Products
- How Does Nodak Auto Insurance Work?
- What Makes Nodak Auto Insurance Unique?
- Nodak Car Insurance Discounts
- Nodak Reviews & Ratings: What Do Customers Have to Say?
Nodak was founded in 1946 as an offshoot of the North Dakota Farm Bureau. A group of farmers and ranchers in North Dakota gathered to launch their own insurance company. The company began with a $500 investment from 100 members of the North Dakota Farm Bureau.
In its early days, Nodak Mutual Insurance Company offered car, truck, and farm liability insurance. The company was originally located on the second floor of the Fargo National Bank building. Today, Nodak is based on First Avenue North in downtown Fargo.
Until 2017, Nodak operated as a mutual insurance company, which means the company is owned by policyholders. In 2017, however, the company converted to a stock insurance company. You can now buy Nodak’s stock holding company, NI Holdings Inc., on the NASDAQ exchange. The company is owned by shareholders instead of policyholders.
Over the last decade, Nodak has acquired several subsidiary brands. In 2014, Nodak acquired South Dakota-based insurance company Primero, national insurance company Direct Auto, and Maryland-based Westminster American Insurance Company.
As of September 2020, Nodak Insurance Group has $245 million of premium writings and $265 million of policyholder surpluses.
|Nodak Insurance Contact Information|
|Address||1101 1st Ave N
Fargo, ND 58102
Nodak Insurance Products
Nodak offers a range of insurance products, financial services, and more to policyholders across North Dakota and other states.
Available insurance products from Nodak include:
Home: Nodak sells homeowners insurance for homes, condos, apartments, renters, and more. Policyholders can get multi-line discounts, new home discounts, protective device discounts, and mature homeowner discounts, among other insurance products.
Farm & Ranch: Nodak has served farmers and ranchers across North Dakota since launching in 1946. Today, the company continues to sell property coverage, liability coverage, medical payments coverage, and other insurance products to farmers and ranchers across the state. Farmers and ranchers can also take advantage of multi-line discounts, new home discounts, new roof discounts, protective device discounts, and other discount options.
Crop: Nodak offers crop hail and multiple peril crop insurance (MPCI) coverage across North Dakota, South Dakota, and Minnesota (serving neighboring states through American West Insurance).
Business Insurance: Nodak sells business insurance across North Dakota, including general liability insurance, identity theft insurance, data breach insurance, equipment breakdown coverage, and other options. Nodak also offers unique business coverage options for contractors equipment, builders risk, installation, bonding, property, auto, and excess liability coverage.
Life & Annuities: Nodak offers life insurance and annuities across North Dakota.
Financial Services: In addition to insurance products, Nodak sells financial products and services. Available financial services include retirement funding, estate strategies, education planning, annuities, and mutual funds. Nodak sells financial services through FBL Marketing Services, LLC.
Other Insurance Products: Other insurance products available through Nodak include watercraft coverage, motorcycle coverage, ATV coverage, snowmobile coverage, RV coverage, golf cart coverage, and more.
How Does Nodak Auto Insurance Work?
Nodak’s auto insurance covers anything drivers want it to cover – from minimum liability coverage to full coverage car insurance.
Here are some of the auto insurance coverage options available through Nodak:
Liability Coverage: Most states, including North Dakota, require drivers to carry bodily injury liability and property damage liability coverage. These liability coverage options cover damage you cause to other people while driving.
Personal Injury Protection (PIP): Required in some states, personal injury protection (PIP) covers medical bills after an accident regardless of fault.
Uninsured and Underinsured Motorist Coverage: Thousands of drivers in North Dakota drive illegally without car insurance every day. Nodak sells uninsured and underinsured motorist coverage for added protection.
Collision Coverage: Collision coverage covers the cost of repairing your vehicle after an accident, regardless of fault.
Other Than Collision Coverage: Also known as comprehensive coverage, Nodak’s “Other Than Collision” coverage covers damages that occur outside of accidents, including collisions with animals, theft, vandalism, and more.
What Makes Nodak Auto Insurance Unique?
Drivers in North Dakota have many options for car insurance. Why pick Nodak? What makes Nodak different from competing companies? Here are some of the ways Nodak aims to differentiate itself:
Locally Based: Nodak was founded in Fargo in 1946, and the company continues to be headquartered in Fargo today. Many drivers appreciate a local option instead of a faceless nationwide firm.
Strong Ratings: Nodak has stronger ratings than most of its larger competitors. Customers tend to be satisfied with the claims process, and Nodak has high ratings on most review websites.
New Car Replacement Coverage: If your new car is a total loss, then Nodak can cover the cost of replacing your car with a new model. Nodak offers this coverage on most passenger vehicles that are two years old or fewer with under 24,001 miles at the time of loss. New car replacement is an optional coverage offered by some insurers – but not all.
Popular with Farmers & Ranchers: Nodak was founded as an offshoot of the North Dakota Farm Bureau in 1946. Today, the company continues to insure farmers and ranchers across the state. The company is popular with all types of urban and rural drivers in North Dakota. North Dakota Farm Bureau continues to be affiliated with Nodak today.
Coverage for Teen Drivers: Teen drivers in North Dakota pay some of the state’s highest rates for car insurance. Nodak offers competitive coverage for teen drivers, particularly for teens added to a parent’s policy. Nodak offers unique teen car insurance discounts we don’t see with other providers, including a good student discount and a unique “Route 1000” discount. If you’re shopping for cheap car insurance as a teenage driver, then Nodak may be the right choice.
Nodak Car Insurance Discounts
Nodak offers a range of car insurance discounts to drivers across North Dakota. Safe drivers save significantly on car insurance, but drivers with all backgrounds can drop premiums substantially by taking advantage of discounts.
EFT Discount: Nodak offers discounts to customers who pay via electronic funds transfer (EFT). You receive a 10% premium discount by signing up for EFT payments.
Extended Household Discount: If you have a son or daughter moving off your insurance, then they will receive a 25% premium discount on their auto insurance by sticking with Nodak after moving out.
Multi-line Discount: If you have multiple insurance policies with Nodak, then you receive a multi-line discount across all policies. The more you insure with Nodak, the more you save.
Multi-Vehicle Discount: Nodak offers discounts to drivers who insure multiple vehicles with the company.
Disappearing Deductible: Nodak offers an optional disappearing deductible discount. For each year you’re claim-free, your deductible drops by $150 until it reaches zero.
Defensive Driver Discount: Nodak offers a defensive driver discount. Drivers can enroll in the Defensive Driver Program and receive a discount on their auto insurance premiums.
Good Student Discount: If you are a full time student under age 25 and maintain certain academic standards, then Nodak gives you a discount on car insurance.
Route 1000 Discount: Nodak offers a unique discount called the Route 1000 discount. Teens who enroll in the North Dakota Farm Bureau’s Route 1000 class can receive a 7% discount on their Nodak insurance premiums.
Nodak Reviews & Ratings: What Do Customers Have to Say?
Nodak is well-rated by most drivers in North Dakota. Customers are generally happy with the price, claims process, and customer service of Nodak auto insurance.
Nodak is not large enough to appear on J.D. Power’s rankings. J.D. Power assesses the top 20 largest insurance companies based on claims satisfaction.
Nodak has an A (Excellent) rating from A.M. Best, which analyzes the financial strength of insurance companies around the world. A.M. Best affirmed the rating of A (Excellent) in April 2020, and the company has maintained that same rating since 1951. That’s a good rating, and it indicates Nodak should have no trouble covering claims in the future.
Insurance review aggregator website Clearsurance has a 4.56 rating for Nodak based on 8 reviews. WalletHub gave the company 3.5 stars out of 5 in a recent review.
Nodak Insurance Company has been named to the Ward’s Top 50 Property / Casualty companies list for eight consecutive years. Ward analyzes 3,000+ insurance companies across the United States based on their financial strength and efficiency.
Final Word – Nodak Insurance Review
Nodak Insurance Company is North Dakota’s largest domestic property and casualty insurance company. The company covers 27,000 policyholders across the state. With 75+ years of experience, Nodak continues to be one of the top-rated options for drivers across the state.
To learn more about Nodak or to request a quote today, visit the company online at NodakIns.com.