[et_pb_section fb_built="1" _builder_version="4.0.9"][et_pb_row _builder_version="4.0.9"][et_pb_column type="4_4" _builder_version="4.0.9"][et_pb_text _builder_version="4.0.9" hover_enabled="0"]<h1 class="post-headline " style="text-align: justify;"><strong>How much the average homeowner pays for insurance in the US, by state and home value</strong></h1>
[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version="4.0.9"][et_pb_column type="4_4" _builder_version="4.0.9"][et_pb_text _builder_version="4.0.9" hover_enabled="0"]<div align="center" style="text-align: justify;">
<p><img src="https://i.insider.com/5ec7ff5a5af6cc656050b68c?width=1200&amp;format=jpeg" /><span style="color: #000000;"></span></p>
<p><span style="color: #000000;">Whether you're shopping for a refrigerator, a couch, or a car, one of the first things you'll want to know is how much the item "normally" costs. And with these types of physical products, it's usually relatively easy to do a little online research to get a solid price baseline.</span></p>
<p><span style="color: #000000;">But it's not so easy to do that with intangible products like homeowners insurance. Apart from taking the time to ask all your friends, family, and neighbors what they pay in premiums, it's hard to know if the quote you've received is outrageous or a steal.</span></p>
<p><span style="color: #000000;">Thankfully, there's a lot of data available that can help you set realistic expectations for your homeowners insurance cost. In this article, we'll look at how much the average homeowner is paying in homeowners insurance premiums, the factors that affect your specific policy, and ways to save.</span></p>
<p>&nbsp;</p>
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<h2 id="the-average-cost-of-homeowners-insurance" class="toc-header-element">The average cost of homeowners insurance</h2>
<p>According to the most recent release of the<span> </span><a href="https://content.naic.org/article/news_release_naic_releases_report_homeowners_insurance.htm" target="_blank" rel="noopener noreferrer" data-analytics-module="body_link" data-analytics-post-depth="20">Homeowners Insurance Report</a><span style="color: #000000;"> by the National Association of Insurance Commissioners (NAIC), the average annual premium in the United States in 2017 was $1,211. </span></p>
<p><span style="color: #000000;">The 2017 average premium — the most recent data available — was a 1.6% increase from the 2016 average of $1,192. Premiums have been steadily rising over the past decade. In 2012, the national average premium was $1,034 and in 2008 it was even lower at $830.</span></p>
<p><span style="color: #000000;">Your home's value plays a large role in how much you pay in insurance premiums. Here's how much homeowners insurance costs on average by home value in the United States, according to the NAIC:</span></p>
<table border="1" cellpadding="10px">
<tbody>
<tr>
<td><span style="color: #000000;"><strong>Estimated Home Value</strong></span></td>
<td><span style="color: #000000;"><strong>Average Premiums for an HO-3 Policy</strong></span></td>
</tr>
<tr>
<td><span style="color: #000000;">$49,999 and under</span></td>
<td><span style="color: #000000;">$633</span></td>
</tr>
<tr>
<td><span style="color: #000000;">$50,000 to $74,999</span></td>
<td><span style="color: #000000;">$745</span></td>
</tr>
<tr>
<td><span style="color: #000000;">$75,000 to $99,999</span></td>
<td><span style="color: #000000;">$814</span></td>
</tr>
<tr>
<td><span style="color: #000000;">$100,000 to $124,999</span></td>
<td><span style="color: #000000;">$870</span></td>
</tr>
<tr>
<td><span style="color: #000000;">$125,000 to $149,999</span></td>
<td><span style="color: #000000;">$918</span></td>
</tr>
<tr>
<td><span style="color: #000000;">$150,000 to $174,999</span></td>
<td><span style="color: #000000;">$960</span></td>
</tr>
<tr>
<td><span style="color: #000000;">$175,000 to $199,999</span></td>
<td><span style="color: #000000;">$997</span></td>
</tr>
<tr>
<td><span style="color: #000000;">$200,000 to $299,999</span></td>
<td><span style="color: #000000;">$1,092</span></td>
</tr>
<tr>
<td><span style="color: #000000;">$300,000 to $399,999</span></td>
<td><span style="color: #000000;">$1,252</span></td>
</tr>
<tr>
<td><span style="color: #000000;">$400,000 to $499,999</span></td>
<td><span style="color: #000000;">$1,467</span></td>
</tr>
<tr>
<td><span style="color: #000000;">$500,000 and above</span></td>
<td><span style="color: #000000;">$2,149</span></td>
</tr>
</tbody>
</table>
<p><span style="color: #000000;"><em>*The above table uses data from the NAIC.</em></span></p>
<p><span style="color: #000000;"><em></em></span></p>
<h2 id="the-average-cost-of-homeowners-insurance-by-state" class="toc-header-element"><span style="color: #000000;">The average cost of homeowners insurance by state</span></h2>
<p><span style="color: #000000;">Where you live will also impact your cost of homeowners insurance. If you live in an area with high real estate values, this also means that it would cost more to replace your home if it were destroyed. So the NAIC says that average premiums tend to be higher in densely populated areas.</span></p>
<p><span style="color: #000000;">Second, your potential exposure to catastrophe plays a significant role in what you pay for homeowner's insurance. If you live in an area that's prone to hurricanes, earthquakes, or tornadoes, you can expect to pay more than someone who lives in an area with less risk of experiencing a natural disaster.</span></p>
<p><span style="color: #000000;">Here's the average annual homeowners insurance premium by state, according to S&amp;P Global Market Intelligence:</span></p>
<table dir="ltr" border="1" cellspacing="0" cellpadding="10px"><colgroup> <col width="168" /> <col width="204" /></colgroup>
<tbody>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" state=""><span style="color: #000000;"><strong>State</strong></span></td>
<td data-sheets-value="{" 1="" :2="" 2="" :="" average="" annual="" premium=""><span style="color: #000000;"><strong>Average Annual Premium</strong></span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" alabama=""><span style="color: #000000;">Alabama</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1116="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,116</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" alaska=""><span style="color: #000000;">Alaska</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1002="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,002</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" arizona=""><span style="color: #000000;">Arizona</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :966="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$966</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" arkansas=""><span style="color: #000000;">Arkansas</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1091="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,091</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" california=""><span style="color: #000000;">California</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :966="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$966</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" colorado=""><span style="color: #000000;">Colorado</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :994="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$994</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" connecticut=""><span style="color: #000000;">Connecticut</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1058="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,058</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" delaware=""><span style="color: #000000;">Delaware</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1172="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,172</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" district="" of="" columbia=""><span style="color: #000000;">District of Columbia</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1047="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,047</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" florida=""><span style="color: #000000;">Florida</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1117="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,117</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" georgia=""><span style="color: #000000;">Georgia</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1137="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,137</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" hawaii=""><span style="color: #000000;">Hawaii</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :977="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$977</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" idaho=""><span style="color: #000000;">Idaho</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :966="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$966</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" illinois=""><span style="color: #000000;">Illinois</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :924="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$924</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" indiana=""><span style="color: #000000;">Indiana</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :906="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$906</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" iowa=""><span style="color: #000000;">Iowa</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :918="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$918</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" kansas=""><span style="color: #000000;">Kansas</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :908="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$908</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" kentucky=""><span style="color: #000000;">Kentucky</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1106="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,106</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" louisiana=""><span style="color: #000000;">Louisiana</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1108="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,108</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" maine=""><span style="color: #000000;">Maine</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :989="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$989</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" maryland=""><span style="color: #000000;">Maryland</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1212="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,212</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" massachusetts=""><span style="color: #000000;">Massachusetts</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1031="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,031</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" michigan=""><span style="color: #000000;">Michigan</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :919="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$919</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" minnesota=""><span style="color: #000000;">Minnesota</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :951="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$951</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" mississippi=""><span style="color: #000000;">Mississippi</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1099="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,099</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" missouri=""><span style="color: #000000;">Missouri</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :897="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$897</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" montana=""><span style="color: #000000;">Montana</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :948="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$948</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" nebraska=""><span style="color: #000000;">Nebraska</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :907="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$907</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" nevada=""><span style="color: #000000;">Nevada</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :933="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$933</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" new="" hampshire=""><span style="color: #000000;">New Hampshire</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1049="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,049</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" new="" jersey=""><span style="color: #000000;">New Jersey</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1052="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,052</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" new="" mexico=""><span style="color: #000000;">New Mexico</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :949="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$949</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" new="" york=""><span style="color: #000000;">New York</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :952="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$952</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" north="" carolina=""><span style="color: #000000;">North Carolina</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1118="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,118</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" north="" dakota=""><span style="color: #000000;">North Dakota</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :906="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$906</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" ohio=""><span style="color: #000000;">Ohio</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :895="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$895</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" oklahoma=""><span style="color: #000000;">Oklahoma</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1114="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,114</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" oregon=""><span style="color: #000000;">Oregon</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :950="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$950</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" pennsylvania=""><span style="color: #000000;">Pennsylvania</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1003="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,003</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" rhode="" island=""><span style="color: #000000;">Rhode Island</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :982="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$982</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" south="" carolina=""><span style="color: #000000;">South Carolina</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1126="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,126</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" south="" dakota=""><span style="color: #000000;">South Dakota</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :898="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$898</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" tennessee=""><span style="color: #000000;">Tennessee</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1118="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,118</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" texas=""><span style="color: #000000;">Texas</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1140="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,140</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" utah=""><span style="color: #000000;">Utah</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1025="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,025</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" vermont=""><span style="color: #000000;">Vermont</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1004="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,004</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" virginia=""><span style="color: #000000;">Virginia</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1181="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,181</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" washington=""><span style="color: #000000;">Washington</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :986="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$986</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" west="" virginia=""><span style="color: #000000;">West Virginia</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1101="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$1,101</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" wisconsin=""><span style="color: #000000;">Wisconsin</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :903="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$903</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" wyoming=""><span style="color: #000000;">Wyoming</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :966="" data-sheets-numberformat="{" :2="" 2="" :="" 0="" :1=""><span style="color: #000000;">$966</span></td>
</tr>
</tbody>
</table>
<p><span style="color: #000000;"><em>*The above table uses data from S&amp;P Global Market Intelligence.</em></span></p>
<p><span style="color: #000000;"><em></em></span></p>
<h2 id="most-expensive-states-for-homeowners-insurance" class="toc-header-element"><span style="color: #000000;">Most expensive states for homeowners insurance</span></h2>
<p><span style="color: #000000;">Here are the states where annual homeowners insurance premiums are least affordable, on average, according to S&amp;P Global:</span></p>
<table dir="ltr" border="1" width="764" cellspacing="0" cellpadding="10px"><colgroup> <col width="100" /> <col width="165" /></colgroup>
<tbody>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" state=""><span style="color: #000000;"><strong>State</strong></span></td>
<td data-sheets-value="{" 1="" :2="" 2="" :="" average="" annual="" premium=""><span style="color: #000000;"><strong>Average Annual Premium</strong></span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" maryland=""><span style="color: #000000;">Maryland</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1212="" data-sheets-numberformat="[null,2," 0=""><span style="color: #000000;">$1,212</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" virginia=""><span style="color: #000000;">Virginia</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1181="" data-sheets-numberformat="[null,2," 0=""><span style="color: #000000;">$1,181</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" delaware=""><span style="color: #000000;">Delaware</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1172="" data-sheets-numberformat="[null,2," 0=""><span style="color: #000000;">$1,172</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" texas=""><span style="color: #000000;">Texas</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1140="" data-sheets-numberformat="[null,2," 0=""><span style="color: #000000;">$1,140</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" georgia=""><span style="color: #000000;">Georgia</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :1137="" data-sheets-numberformat="[null,2," 0=""><span style="color: #000000;">$1,137</span></td>
</tr>
</tbody>
</table>
<p><span style="color: #000000;"><em>*The above table uses data from S&amp;P Global Market Intelligence.</em></span></p>
<p><span style="color: #000000;"><em></em></span></p>
<h2 id="cheapest-states-for-homeowners-insurance" class="toc-header-element"><span style="color: #000000;">Cheapest states for homeowners insurance</span></h2>
<p><span style="color: #000000;">Here are the states where annual homeowners insurance premiums are most affordable, on average, according to S&amp;P Global:</span></p>
<table dir="ltr" border="1" width="762" cellspacing="0" cellpadding="10px"><colgroup> <col width="100" /> <col width="165" /></colgroup>
<tbody>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" state=""><span style="color: #000000;"><strong>State</strong></span></td>
<td data-sheets-value="{" 1="" :2="" 2="" :="" average="" annual="" premium=""><span style="color: #000000;"><strong>Average Annual Premium</strong></span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" ohio=""><span style="color: #000000;">Ohio</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :895="" data-sheets-numberformat="[null,2," 0=""><span style="color: #000000;">$895</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" missouri=""><span style="color: #000000;">Missouri</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :897="" data-sheets-numberformat="[null,2," 0=""><span style="color: #000000;">$897</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" south="" dakota=""><span style="color: #000000;">South Dakota</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :898="" data-sheets-numberformat="[null,2," 0=""><span style="color: #000000;">$898</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" wisconsin=""><span style="color: #000000;">Wisconsin</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :903="" data-sheets-numberformat="[null,2," 0=""><span style="color: #000000;">$903</span></td>
</tr>
<tr>
<td data-sheets-value="{" 1="" :2="" 2="" :="" indiana=""><span style="color: #000000;">Indiana</span></td>
<td data-sheets-value="{" 1="" :3="" 3="" :906="" data-sheets-numberformat="[null,2," 0=""><span style="color: #000000;">$906</span></td>
</tr>
</tbody>
</table>
<p><span style="color: #000000;"><em>*The above table uses data from S&amp;P Global Market Intelligence.</em></span></p>
<p><span style="color: #000000;"><em></em></span></p>
<h2 id="the-factors-that-affect-homeowners-insurance-premiums" class="toc-header-element"><span style="color: #000000;">The factors that affect homeowners insurance premiums</span></h2>
<p><span style="color: #000000;">As we've already seen, your home's value and where it's located are two of the biggest variables that affect homeowners insurance prices. However, there are a few other factors that can drive your premiums up or down. </span></p>
<h3><span style="color: #000000;">Coverage levels</span></h3>
<p><span style="color: #000000;">The type of coverage you choose will impact the price that you pay for homeowners insurance. <strong>Cash value coverage</strong> is typically the most affordable. With this type of coverage, your insurance company will only pay what your property is worth minus depreciation, not what it would cost to actually <em>replace</em> your home and its belongings.</span></p>
<p><span style="color: #000000;">For more protection, you can choose <strong>replacement cost coverage</strong> instead. With this type of policy, your insurer will pay out what it would cost to repair or rebuild your home in today's dollars.</span></p>
<p><span style="color: #000000;">For example, if a tree fell through your house and destroyed your couch, a replacement cost policy would pay whatever it costs to replace the couch. But a cash value policy would only pay what the couch is worth today. And if the couch is several years old, its value could be much less than what you originally paid.</span></p>
<p><span style="color: #000000;">You can expect to pay more for replacement cost coverage, but it may be worth it to protect yourself against coverage gaps that can be caused by depreciation.</span></p>
<h3><span style="color: #000000;">Other variables</span></h3>
<p><span style="color: #000000;">Here are a few more factors that can affect the price of your homeowners insurance:</span></p>
<ul>
<li><span style="color: #000000;"><strong>The deductible you choose</strong>: As a general rule, premiums go down as deductibles go up.</span></li>
<li><span style="color: #000000;"><strong>Age of your home</strong>: Older homes often require more work to rebuild to modern safety standards, so they can cost more to insure than newer homes.</span></li>
<li><span style="color: #000000;"><strong>Condition of your roof</strong>: If your roof is relatively new and in good condition you'll typically pay less than a homeowner with a roof that's old or built with lower-quality materials</span></li>
<li><span style="color: #000000;"><strong>Past claims</strong>: You can expect to pay more if you've made several claims in the past or live in an area with a high claims rate.</span><span style="color: #000000;"></span></li>
</ul>
<h2 class="toc-header-element"><span style="color: #000000;"></span></h2>
<h2 id="how-to-save-money-on-homeowner's-insurance" class="toc-header-element"><span style="color: #000000;">How to save money on homeowner's insurance</span></h2>
<h3><span style="color: #000000;">Add features to make your home safer</span></h3>
<p><span style="color: #000000;">If you're looking for ways to reduce your homeowners insurance premiums, think about ways you could improve the safety of your home. Adding any of the following safety features to your home could qualify you for a homeowners insurance discount:</span></p>
<ul>
<li><span style="color: #000000;">Smoke detectors</span></li>
<li><span style="color: #000000;">Deadbolt locks</span></li>
<li><span style="color: #000000;">Fire extinguishers</span></li>
<li><span style="color: #000000;">Storm shutters</span></li>
<li><span style="color: #000000;">Security system</span></li>
<li><span style="color: #000000;">Sprinkler system</span></li>
<li><span style="color: #000000;">New or reinforced roof</span></li>
</ul>
<h3><span style="color: #000000;">Bundle your insurance policies</span></h3>
<p><span style="color: #000000;">You may also be able to save on homeowners insurance by bundling your home and </span><a href="https://www.businessinsider.com/personal-finance/best-car-loans-options" target="_blank" rel="noopener noreferrer" data-analytics-module="body_link" data-analytics-post-depth="100">auto insurance policies</a><span style="color: #000000;"> together. </span></p>
<h3><span style="color: #000000;">Raise your deductible</span></h3>
<p><span style="color: #000000;">Finally, raising your deductible could reduce your premiums. But make sure that you don't set a premium that's higher than you'd be able to pay without going into debt. And know that if you have a mortgage on your home, your lender may require that your deductible stay below a certain limit.</span></p>
<h3><span style="color: #000000;">Shop around</span></h3>
<p><span style="color: #000000;">The last variable that can impact the price you pay for home insurance is the company you choose. Premiums can vary widely by insurance company. So one of the best ways to save on homeowners insurance could be simply to make sure that you shop around before choosing an insurance provider.</span></p>
<p><span style="color: #000000;">Aim to get at least three to five quotes before choosing a home insurer. Or, to save time, you could use an online homeowners insurance shopping tool like </span><a href="https://policygenius.go2cloud.org/aff_c?offer_id=120&amp;aff_id=1592&amp;redirect_slug=businessinsider-homeowners" target="_blank" rel="noopener noreferrer" data-analytics-module="body_link" data-analytics-post-depth="100">Policygenius</a><span style="color: #000000;"> to compare dozens of insurance companies at once.</span></p>
<p style="text-align: left;"><span style="color: #000000;"></span></p>
</div>
<div align="center" style="text-align: justify;"><span style="color: #000000;"></span></div>
<div align="center" style="text-align: justify;"><span><span style="color: #000000;">To read the full article,</span> <a href="https://www.businessinsider.com/personal-finance/average-homeowners-insurance-cost">click here</a><span style="color: #000000;">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]