Monday, February 17, 2020
Home > Blog > Homeowners Insurance Cost Average and Rates

Homeowners Insurance Cost Average and Rates

Hi, I’m going to be talking to you today about the average cost of homeowners insurance. Homeowners insurance can be offered through a variety of carriers and can range greatly depending on the state that you live in, how prone your home is to natural disasters, how much you have in personal property how much your home is worth etc.

Homeowners Insurance Cost Average
Homeowners Insurance Cost Average

That the median cost for homeowners insurance in the United States in 2007 was about seven hundred and sixty dollars. So this does vary greatly from state to state California Florida are closer to a thousand dollars and this is an annual premium California and Florida a closer to a thousand dollars where you may have some states on the lower end of the spectrum like Montana or North Dakota or South Dakota etc.

Homeowners Insurance on 300k Home

Who is closer to maybe like four hundred three hundred dollars a year in premiums. This is based on the cost of the homes obviously in California and Florida quite a bit more than the average cost of homes in some of those other states.

So homeowners insurance will cover everything from natural disasters such as flood fire tornado earthquake depending upon where your location is if you’re located in areas that are more prone to these natural disasters your policy may not cover you in those areas.

Now we’ll also cover things like theft burglary etc so if items within your home or lost or lost or stolen those items will be covered by your homeowner’s insurance policy.

Another very important thing that homeowners insurance will cover is if someone is injured in your home and they decide to sue you for some money the homeowner’s insurance will cover liability coverage for that individual who may be hurt or injured within your home.

Now, this is important because medical expenses can rack up quite quickly and if someone trips and falls in your home and breaks their leg and decides to sue you you’ve got some coverage there that will protect you in the event of something unfortunate like this happening.

STATE AVERAGE ANNUAL PREMIUM STATE
AVERAGE ANNUAL PREMIUM
Alabama $1,386 Montana $1,130
Alaska $974 Nebraska $1,402
Arizona $803 Nevada $742
Arkansas $1,348 New Hampshire $965
California $1,000 New Jersey $1,174
Colorado $1,446 New Mexico $996
Connecticut $1,455 New York $1,309
Delaware $816 North Carolina $1,098
District of Columbia $1,225 North Dakota $1,239
Florida $1,918 Ohio $850
Georgia $1,200 Oklahoma $1,875
Hawaii $1,026 Oregon $659
Idaho $703 Pennsylvania $927
Illinois $1,042 Rhode Island $1,496
Indiana $1,003 South Carolina $1,285
Iowa $945 South Dakota $1,125
Kansas $1,548 Tennessee $1,185
Kentucky $1,085 Texas $1,937
Louisiana $1,967 Utah $664
Maine $866 Vermont $898
Maryland $1,022 Virginia $966
Massachusetts $1,451 Washington $822
Michigan $952 West Virginia $917
Minnesota $1,340 Wisconsin $762
Mississippi $1,525 Wyoming $1,120
Missouri $1,280

3 thoughts on “Homeowners Insurance Cost Average and Rates

Leave a Reply

Your email address will not be published. Required fields are marked *

Share via
Copy link
Powered by Social Snap