Geographic location: A home in an area prone to disasters—such as hurricanes, tornadoes, earthquakes, or wildfires—will likely cost more to insure. ; Coverage selections: The coverage limits, deductibles, and optional coverages/riders you choose can all affect the cost of your policy. ; Construction materials: Homes built with materials resistant to fire, wind, storms, and other hazards may cost less to insure.
The average annual cost of U.S. homeowners insurance is $2,728 — or $227 per month, according to data from Quadrant Information Services. However, the rate you will pay depends on a variety of factors that pinpoint risks for you and your home. Auto-Owners is the most affordable home insurance provider based on the MarketWatch Guides team’s research. Nebraska, Louisiana and Oklahoma have the highest U.S. average annual home insurance premiums.
We tell you how much different levels of homeowners insurance may cost as well as what factors determine how much homeowners insurance will cost you.
Check out the list:Best homeowners insurance companies of May 2024 What are ways to reduce the cost of a homeowners insurance policy? ◾ Shop around. “Homeowners often lock in a rate and...
The cost of home insurance is still increasing due to the impact inflation has had on the previous losses experienced by the insurance company, the elevated cost of building materials and the high likelihood of future extreme weather-rela ...
Homeowners insurance rates rising ; Why home insurance rates are rising · Where homeowners rates rose the most · How to save on home insurance · FAQs
How much should you expect to pay for home insurance? See average homeowners insurance costs by state and by company, and find out what's covered by a standard policy.
"Every year, it goes up and up and up and it's not coming down," one homeowner said of her insurance costs.
NerdWallet analyzed data from over 100 insurance companies to find the average homeowners insurance cost in the U.S. and every state.
Article Highlights ; Ninth District states prone to strong winds, hail, and wildfire see highest premium increases ; To limit premium increases, insurers are reducing coverage and raising rates more in disaster-prone areas ; Homeowners are shopping around more, reducing coverage, and even not buying insurance