YOU ASK:

What is the Homeowners insurance average cost?

WE ANSWER:

The national average cost of Homeowners insurance is $804 a year, according to the National Association of Insurance Commissioners. Still, home insurance prices vary greatly from state to state: you can pay between $500 and $1,500 a year to have your home and personal property protected against loss.

A number of factors, such as location, property and content value and most importantly - the likelihood of natural events - come into play to determine Homeowners insurance premiums. Homes situated in areas prone to natural disasters are more expensive to insure, and some companies might even refuse to insure dwellings in high-risk zones which have a rich history of damage claims.

States with Low-Cost Homeowners Insurance

Moderate and low-risk states, where property prices, repair costs and construction material prices are not high, usually pay Homeowners insurance premiums on the lower end of the spectrum. Here is a list of the states with some of the lowest Homeowners insurance costs:

  • Arizona - $640
  • Delaware - $530
  • Idaho - $477
  • Illinois - $674
  • Indiana - 638
  • Iowa - $596
  • Kentucky - $637
  • Maine - $573
  • New Mexico - $638
  • North Carolina - $649
  • Ohio - $530
  • Oregon - $502
  • Pennsylvania - $643
  • South Dakota - $628
  • Utah - $494
  • Washington - $603
  • Wisconsin - $490
  • Wyoming - $648

States with Expensive Homeowners Insurance

Areas which are more prone to the destructive force of natural disasters such as earthquake, flood, hail or storm have higher Homeowners insurance costs. To lower their premiums, home owners are encouraged to install damage-prevention features which minimize the risk of loss.

Here is a list of the states which typically have some of the highest average Homeowners insurance rates:

  • California - $937
  • District of Columbia - $1,012
  • Florida - $1,386
  • Louisiana - $1,257
  • Massachusetts - $925
  • Mississippi - $998
  • Oklahoma - $1,018
  • Rhode Island - $919
  • Texas - $1,409.
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