Our research of the average cost of homeowners insurance included more than 100,000 quotes from dozens of companies for every ZIP code in the U.S. We saw average premiums as low as $20 per month and as high as $390 per month, with a national average of $146 per month. For information about where our numbers came from, check out our methodology.

View average cost of homeowners insurance by:

Average cost of homeowners insurance by state

We saw the average annual cost of home insurance range from $3,735 per year in Oklahoma to $412 per year in Hawaii, with a nationwide average of $1,754 per year.

Average US yearly
rate in 2022:
$1,754

Average cost of home insurance by state
State Average annual premium Average monthly premium
Alabama $2,051 $171
Alaska $1,175 $98
Arizona $1,397 $116
Arkansas $2,447 $204
California $934 $78
Colorado $2,832 $236
Connecticut $1,729 $144
Delaware $907 $76
District of Columbia $1,148 $96
Florida $2,414 $201
Georgia $1,875 $156
Hawaii $412 $34
Idaho $1,418 $118
Illinois $1,708 $142
Indiana $1,672 $139
Iowa $1,909 $159
Kansas $3,417 $285
Kentucky $2,415 $201
Louisiana $2,390 $199
Maine $1,027 $86
Maryland $1,171 $98
Massachusetts $1,159 $97
Michigan $1,547 $129
Minnesota $2,008 $167
Mississippi $2,912 $243
Missouri $2,714 $226
Montana $1,976 $165
Nebraska $3,552 $296
Nevada $995 $83
New Hampshire $911 $76
New Jersey $947 $79
New Mexico $2,071 $173
New York $1,142 $95
North Carolina $1,803 $150
North Dakota $1,822 $152
Ohio $1,224 $102
Oklahoma $3,735 $311
Oregon $1,105 $92
Pennsylvania $1,041 $87
Rhode Island $1,236 $103
South Carolina $2,493 $208
South Dakota $2,377 $198
Tennessee $2,079 $173
Texas $3,626 $302
Utah $926 $77
Vermont $963 $80
Virginia $1,268 $106
Washington $924 $77
West Virginia $1,483 $124
Wisconsin $1,304 $109
Wyoming $1,638 $137
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Insurance companies consider many factors in determining your rates, including the risk profile of your state. For example, Florida's climate puts it at a higher risk of hurricanes, which is reflected in the state's higher premiums.

The table above can help you get a sense of the average cost of home insurance across the country so you know what to expect when purchasing homeowners insurance. Find your state in our state guide for more information.

Most expensive states for homeowners insurance

  1. Oklahoma: $3,735
  2. Texas: $3,626
  3. Nebraska: $3,552
  4. Kansas: $3,417
  5. Mississippi: $2,912

Least expensive states for homeowners insurance

  1. Hawaii: $412
  2. Delaware: $907
  3. New Hampshire: $911
  4. Washington: $924
  5. Utah: $926

Oklahoma and Texas are the most expensive states for homeowners insurance, likely because they are in Tornado Alley. Natural disasters are frequent in the states with the highest average home insurance rates in the U.S.

Hawaii is the cheapest state for home insurance, with an average premium of $412 per year. Delaware, New Hampshire, Utah and Washington are also among the least expensive states for home insurance. This is because they're impacted by fewer natural disasters or have homes that are newer or cheaper than elsewhere.

Compare rates from the top insurers in the U.S.

Average cost of homeowners insurance by coverage amount

The cost of homeowners insurance changes based on how much coverage you choose. We analyzed thousands of quotes for five different dwelling coverage amounts, which is the amount for which your house's structure is insured. We used dwelling coverages ranging from $200,000 to $500,000 while gathering quotes. Here are some selected values:

Average cost of homeowners insurance by dwelling coverage
Dwelling coverage Average annual premium Average monthly premium
$200,000 $1,478 $123
$275,000 $1,812 $151
$350,000 $2,179 $182
$425,000 $2,584 $215
$500,000 $3,007 $251
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. States used for averages include Arizona, Connecticut, Florida and Illinois. Your rates may vary.

Higher dwelling coverage amounts raise homeowners insurance rates because the insurance company must be prepared to pay out a larger sum in case of a loss. Keep in mind, your dwelling amount is the cost to rebuild your home, not your home's market value. Think of it as the value of your home minus its location. Your dwelling amount depends on your home's materials, its size and local labor costs.

Average cost of homeowners insurance by deductible

Your deductible is the amount of money you pay out of pocket after a loss and before your home insurance kicks in to cover the rest. So, if your insurance company approves a claim for $5,500 and you have a $1,000 deductible, you'll pay $1,000 out of pocket and your insurance will cover the remaining $4,500.

Deductible Average annual premium
$500 $1,877
$1,000 $1,754
$1,500 $1,649
$2,000 $1,557
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Based on our figures, increasing your deductible from $1,000 (a common amount) to $2,000 can save you $197 a year. In order for that $1,000 deductible savings to make sense, you'd have to go a little over seven years without a claim to warrant saving $197 a year.

You should be prepared to pay your deductible at any time. For instance, if your deductible is $2,000, you should have that cash on hand at all times in case you experience a loss.

Average home insurance premium by company

Chubb offers the cheapest average home insurance premium of the companies we surveyed at $1,570 per year. We looked at average rates from some of the largest home insurance companies. Here's how they compare to Chubb.

 

Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. **USAA is only available to military members, veterans and their families.

Average home insurance rates by city

We analyzed rates in the 10 largest cities in the U.S. to find the average homeowners insurance cost in each city. Among the most populated cities, Dallas has the highest average home insurance rate at $4,342 per year, followed by Houston at $3,236 per year.

Average annual premium by city
City Average annual premium
New York $1,672
Los Angeles $1,052
Chicago $1,869
Houston $3,236
Phoenix $1,578
Philadelphia $1,733
San Antonio $2,402
San Diego $848
Dallas $4,342
San Jose $785
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

What does home insurance cover?

There are six coverages in a standard home insurance policy, and all of them influence the cost of homeowners insurance. You can lower your home insurance premium by lowering your coverage limits or pay more to get more protection.

Standard coverage in HO-3 home insurance policy
Coverage What it covers Typical amount
Dwelling Your home's structure Estimated cost of rebuilding your home
Other structures The other buildings and structures on your property, like garages or sheds 10% of dwelling
Personal property Your belongings 50% of dwelling
Loss of use Additional expenses if you're unable to remain in your home 20% of dwelling
Personal liability The cost of legal defense and medical payments if you are sued for property damage or bodily injury $100,000
Medical payments to others Medical bills if a guest is injured on your property $5,000

How to estimate your homeowners insurance rate

According to our data, the biggest factor in determining how much you'll pay for homeowners insurance is your dwelling coverage amount. To estimate how much you'll pay, there are two steps to take: First, get your baseline rate by estimating how much dwelling coverage you need, and second, increase or decrease your baseline rate depending on your state's risk.

Get your baseline rate according to your dwelling coverage by referring to our cost of home insurance by dwelling amount calculation. Once you have this baseline, adjust your premium up or down by the percentage listed for your state in our cost by state table.

See how much you can save when companies compete for your business.

How to save on homeowners insurance

There are several ways to reduce your home insurance premiums, including switching companies, bundling policies and increasing your deductible.

 

Insurance companies want new customers, so they often attract them with new customer discounts and lower rates. That means you can take advantage of insurance companies competing for your business. It's why we always recommend shopping around and getting multiple quotes

Some companies, like Allstate, advertise 25% savings if you bundle your home and auto insurance. There are other advantages to bundling besides saving a few bucks. For example, having all of your accounts with a single company can make your bills easier to manage, as you can go to one place to pay them.

Based on our research, increasing your deductible from $500 to $2,000 can save you $320 per year. If you choose to raise your deductible, make sure you have enough cash on hand to be able to pay it in case you suffer a loss and must file a claim.

Insurance companies factor in your home's materials when setting your premiums. For example, if your home is built from materials that are particularly fire prone, or you have structurally weak windows, you may see higher premiums.

Upgrading your roof and windows or reinforcing your home's structure can be great ways to lower your home insurance premiums. While these can be expensive upgrades, they are often still a good idea. Not only can these improvements lower your insurance bill, but they can reduce the chance you'll need to file a claim.

Factors that affect the cost of home insurance

Insurance companies consider many variables, or rate factors, when setting premiums. You can think about them in three buckets: the characteristics of your home, your location and your personal profile. Here are a few important ones:

Homeowners insurance rate factors
You Your home Your location
Claims history Value Climate
Credit history Age and material Local property crime rates
Pets Safety features Proximity to emergency services

If you're looking to lower your premium, you can improve your credit score and lower the number of claims you file. The number of claims you've made in the past can affect your risk status and therefore your home insurance premium. Also, many insurance companies have higher rates or may even deny coverage for homeowners with certain dog breeds that are known to bite.

Insurance companies track many of these factors themselves, such as crime rates and your home's value. But if someone moves in or out, or you upgrade a part of your home, we recommend letting your insurer know. Some factors may lower your rates and some may raise them, but either way, you and your insurer need to be on the same page before a disaster.

Most common home insurance losses

Property damage makes up more than 97% of all homeowners insurance claims, with liability claims comprising just under 3%. Of property claims, wind, hail, fire and lightning are the most common.

Cause of loss Loses incurred
Wind and hail 34.3%
Fire and lightning 25.1%
Water damage and freezing 29.4%
Theft 1%
All other property damage 7.4%
Liability 2.8%
Source: Insurance Information Institute

Frequently asked questions

How much does homeowners insurance cost?

Homeowners insurance costs $1,754 a year on average, according to our study.

What determines the cost of homeowners insurance?

Many factors, including where you live, your home's level of risk and how much coverage you purchase, affect the cost of homeowners insurance. Our study found that dwelling coverage and location are some of the largest factors.

How much homeowners insurance do I need?

Your unique situation determines how much homeowners insurance you need. Typically, you'll need enough dwelling coverage to cover the cost of rebuilding your home and enough personal property protection to cover your belongings.

Methodology

We collected quotes from every ZIP code in all 50 states. The following coverages were used:

  • $275,000 dwelling coverage (unless otherwise noted)
  • $27,500 other structures
  • $137,500 personal property
  • $55,000 loss of use coverage
  • $100,000 liability
  • $5,000 medical payments
  • $1,000 deductible (unless otherwise noted)

We used the largest companies in each respective state in order to reflect local homeowners insurance markets. While there are too many to provide a complete list, here are some of the best-known providers among the ones we used:

  • American Family
  • Allstate
  • Farmers
  • Nationwide
  • State Farm
  • Travelers
  • USAA

QuoteWizard.com LLC has made every effort to ensure that the information on this site is correct, but we cannot guarantee that it is free of inaccuracies, errors, or omissions. All content and services provided on or through this site are provided "as is" and "as available" for use. QuoteWizard.com LLC makes no representations or warranties of any kind, express or implied, as to the operation of this site or to the information, content, materials, or products included on this site. You expressly agree that your use of this site is at your sole risk.