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.
Key Takeaways: To estimate the dwelling coverage portion of your home insurance, multiply the square footage of your home by the local cost per foot of residential construction while taking into account any special or custom features in your home. Replacement cost coverage for your belongings will determine the value of your belongings without taking depreciation into account. Liability coverage protects you from lawsuits. Many policies provide at least $100,000 in coverage. You can customize yo...
Dwelling coverage ; Personal property coverage ; Additional living expenses coverage ; More coverage options
How much homeowners insurance you need depends on the value of your home. Click here to learn the 80% rule in home insurance and get tips for estimating coverage.
Don't let unexpected disasters catch you off guard. Learn how to determine the right amount of homeowners insurance you need to safeguard your home and assets.
Bankrate can help you understand how much home insurance costs in 2024.
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.
Homeowners insurance primarily protects your home and personal belongings. ; If your home is damaged and unlivable, temporary housing costs can be covered. ; Damage to your home must be caused by an insurance peril to be covered.
Read transcript ; You're getting ready to buy a home and know that you'll need insurance to cover your house and all your belongings that go along with it. Knowing you have insurance coverage in case of theft, fire or other unexpected occurrences may help you sleep better at night. But how much insurance should you consider? Understanding the basic coverages and the ones you can add on to your policy can make it easier to determine what you need. Here’s an overview of what’s typically includ...
It depends. These are some of the factors that may help determine how much you'll end up paying for homeowners insurance: The deductible you choose. The value of your home and belongings. Your insu...