The average cost of homeowners insurance in the U.S. is about $1,585 a year, but rates vary by state.
According to NerdWallet analysis, home insurance costs $1,585 per year on average. This is only a guideline.
Your location, house size and the amount of coverage you require will all affect how much homeowners insurance costs. We have analyzed pricing data from 141 insurers to give you the average homeowners’ insurance cost in each state and the largest U.S. towns.
What is the cost of homeowners insurance in your state
The cost of homeowners insurance depends on where you live. Click on your state to see an average cost for home insurance.
The average homeowners insurance rate is variable. The average cost of home insurance in certain states like Hawaii, Delaware, and Vermont is below $1,000, according to our analysis. Other states, such as Texas, Nebraska, and Oklahoma, can have annual rates that exceed $3,000 on average.
Average cost of homeowners insurance by company
We compared the average rates of nine of the largest U.S. homeowners insurance companies by market share (pricing information wasn’t available at Liberty Mutual).
The average annual rate for travel was $1,338. This is the lowest on the list. American Family, however, is the most expensive with an average annual rate $2,042.
Below are the average annual home insurance rates for large companies. Some companies may not offer homeowners insurance in your area.
What are the benefits of home insurance?
Six areas of standard coverage are typically included in homeowner’s insurance policies:
- Dwelling. This policy will cover damage to your home due to a covered event, such as a fire and windstorm.
- Personal property. If your personal property is stolen or damaged, this policy will pay for it.
- Other structures This includes structures that aren’t attached to your home, such as a shed or fence.
- You can stay anywhere you want if your home becomes uninhabitable because of covered damage, including loss of use or additional living expenses coverage.
- Personal liability covers you if you cause injury to another person through negligence or accidental property damage.
- No matter the fault of the victim, medical payments will cover any medical costs for anyone who has been injured on your property.
How do you determine the cost of homeowner’s insurance?
To price homeowners insurance rates, insurers use many factors. These are the most popular:
Your home. Because older homes are less secure than newer ones, they can be more expensive to insure. Even if your home was built recently, it can have an impact on the homeowners insurance cost. Concrete houses are typically cheaper to insure because they are more durable and less susceptible to fire damage.
Your location is a major factor in the cost and quality of your home insurance. Your insurance rate will be affected by factors such as the distance you live from a coast, crime in your area, and how far you are from a fire station.
Your roof. Home insurers are concerned about the condition and construction of your roof. A roof made from asphalt, for example, may be eligible for a lower rate as it is less flammable than other materials.
Renovations. Home improvements that are energy efficient or make your home more comfortable could lead to lower homeowners insurance rates.
Your dog. Your home insurance may be affected if your dog is considered aggressive.
Particular features Swimming pools, trampolines and other “attractive nuisances” can increase the cost of your homeowners insurance as they have a high potential to cause injury.
Limits on your coverage. Your liability and property coverage limits will determine how much you can pay for home insurance.
Your deductible. A higher deductible will mean a lower home insurance rate. If you do need to file a claim, make sure you have enough cash.
Your claim history. If you have previous homeowners insurance claims, you’ll likely pay a higher rate.
Credit history. A good credit history can lead to lower homeowners insurance rates.
Home insurance discounts. Many insurers offer discounts to help customers save on homeowners insurance, such as:
- Multiple policies. You could save money if you combine your homeowners insurance with a product like car insurance.
- Safety and security devices. Many home insurance companies offer discounts for homes with security systems such as fire alarms, deadbolts and security cameras.
- No claims. Many insurance companies offer homeowners a discount if they haven’t made a claim in the last three to five years.
