Average Cost Of Home Insurance

Where you live will also impact your cost of homeowners insurance.

Average cost of home insurance. Texas and florida have the most expensive average cost of homeowners insurance based on the most common policy type called an ho 3 policy. Depending on where you live the average cost of home insurance can fall anywhere between 400 and 3 000 per year. Rank state average rate more or less than 2 305 national average rate.

The average cost of homeowners insurance by state. Louisiana has the most expensive home insurance at an average of over 1 900 a year and oregon has the cheapest average home insurance at around 650 a year. For example if the average cost is 1 918 but this is for a 200 000 home then you can not reasonably expect to be paying close to an average price on home insurance if your home reconstruction value is 500 000 or over 1 000 000.

Homeowners insurance rates vary by a lot of factors and how much you pay may be a lot more than someone a state away. When buying homeowners insurance you should get enough dwelling coverage to match the full replacement cost of your home the cost to repair damage to your home or rebuild it completely at equal quality at current prices is the replacement cost. The average home insurance cost is 1 192 a year according to the national association of insurance commissioners latest home insurance report.

Figuring out how to calculate home replacement cost can be a challenging task but can be done by making a thorough inventory of building. Note that the dollar differences in parenthesis are those that are greater than the national average. The average cost of homeowners insurance is around 1 200 a year but many factors play a role including the details of your property and which state and city you live in.

Homeowners insurance on a condo may cost between 100 and 400 per year. A larger factor though is what the condo association s policy covers. Homeowners pay just over 1 000 per year for a home insurance policy but prices vary across the nation from more than 2 000 to just over 500.

Average cost by state. These costs are impacted by the unique home insurance risks for each state the amount of coverage a typical homeowner buys in each state and several other factors. However homeowners insurance costs are based off of more than what state you.