Discover the average home insurance cost in your area and find out how to get a lower price for your policy.
NerdWallet analyzed data from over 100 insurance companies to find the average homeowners insurance cost in the U.S. and every state.
Key insights from Bankrate's 2024 home insurance rates analysis: On average, the most expensive states for homeowners insurance are Florida, Nebraska and Oklahoma, while the least expensive states are Vermont, West Virginia and Delaware. While inflation has slowed down since its peak in June 2022, insurance rates are reactionary. 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 ...
Discover how much homeowners insurance costs in California, plus which companies offer the best coverage and cheapest rates.
Key points ; A standard home insurance policy contains valuable coverage types, including dwelling, other structures, personal property, liability and additional living expenses. ; You should have enough dwelling coverage to rebuild your house, based on the current labor and construction costs in your area. ; You should have enough liability coverage to fully protect the total value of your assets. ; Depending on where you live, consider buying flood insurance or earthquake insurance, as these problems aren’t covered by a standard homeowners insurance policy.
Homeowners in Kansas pay an average of $3,437 per year for a $300,000 home insurance policy with a $1,000 deductible, which is higher than the national average cost of $2,377 per year. Considering that Kansas is famous for tornadoes — including those that carry farm girls (and their little dogs, too) to Oz — it makes sense that homeowners in the state pay higher home insurance premiums than the average American. Two Kansas counties have a very high risk of tornadoes, while another five face a moderately high risk of twisters.[1] ...
The average annual cost of homeowners insurance in the U.S. is $1,680, which amounts to $140 per month, according to Value Penguin. ; Your homeowners insurance premium depends on a range of factors, including where you live, your home’s condition, your deductible, and the amount of coverage you choose. ; You can lower your premium by increasing your deductible, installing home security devices like fire and burglar alarms, and reinforcing your home to make it more weather-proof.
Florida city, Average annual premium for $300K dwelling coverage ; Fort Lauderdale, $11,368 ; Hollywood, $11,671 ; Miramar Beach, $5,570
Another round of setting homeowner insurance policy rates in North Carolina has begun with the industry seeking a 42.2% average statewide premium increase.
Located in the nation’s heartland, Illinois is also in the middle when it comes to home insurance rates. The average cost of home insurance in Illinois is $1,667 annually, or $139 per month. This places Illinois right in the middle of the country in terms of rates. Illinois’ higher rates could be partly weather-related. The state ranks fifth in the country in number of tornadoes per 10,000 square miles. This risk of extreme weather means it’s even more important for Illinois homeowners to find the right home insurance. Westfield, Allstate ...