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 $39 per month and as high as $304 per month, with a national average of $144 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 $3,645 in Oklahoma to $466 in Hawaii, with a nationwide average of $1,726 per year.

Average cost of home insurance by state
State Average annual premium Average monthly premium
Alabama $2,100 $175
Alaska $1,140 $95
Arizona $1,453 $121
Arkansas $2,402 $200
California $1,018 $85
Colorado $2,532 $211
Connecticut $1,579 $132
Delaware $882 $74
Florida $2,595 $216
Georgia $1,855 $155
Hawaii $466 $39
Idaho $1,060 $88
Illinois $1,596 $133
Indiana $1,587 $132
Iowa $1,779 $148
Kansas $2,947 $246
Kentucky $3,212 $268
Louisiana $2,505 $209
Maine $1,110 $93
Maryland $1,140 $95
Massachusetts $832 $69
Michigan $1,710 $143
Minnesota $2,087 $174
Mississippi $3,417 $285
Missouri $2,251 $188
Montana $2,245 $187
Nebraska $3,241 $270
Nevada $915 $76
New Hampshire $839 $70
New Jersey $963 $80
New Mexico $1,839 $153
New York $1,114 $93
North Carolina $1,869 $156
North Dakota $1,870 $156
Ohio $1,211 $101
Oklahoma $3,645 $304
Oregon $1,023 $85
Pennsylvania $1,042 $87
Rhode Island $1,503 $125
South Carolina $2,048 $171
South Dakota $2,312 $193
Tennessee $1,868 $156
Texas $3,431 $286
Utah $896 $75
Vermont $874 $73
Virginia $1,136 $95
Washington $920 $77
West Virginia $1,503 $125
Wisconsin $1,240 $103
Wyoming $1,502 $125
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: $3,645
  2. Texas: $3,431
  3. Mississippi: $3,417
  4. Nebraska: $3,241
  5. Kentucky: $3,212

Least expensive states for homeowners insurance

  1. Hawaii: $466
  2. Massachusetts: $832
  3. New Hampshire: $839
  4. Vermont: $874
  5. Delaware: $882

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 your house's structure is insured for. We used dwelling coverages ranging from $150,000 to $400,000. Here are some selected values:

Average cost of homeowners insurance by dwelling coverage
Dwelling coverage Average annual premium Average monthly premium
$150,000 $1,233 $103
$200,000 $1,457 $121
$250,000 $1,697 $141
$300,000 $1,934 $161
$350,000 $2,194 $183
$400,000 $2,464 $205
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. You can think of it as the value of your home minus its location. Your dwelling amount depends on your home's materials, size and local labor costs.

How remodeling your home affects homeowners insurance rates

Remodeling your home can lead to higher insurance rates, since a home remodel often increases the rebuild cost of a home. Your dwelling coverage limit should match the rebuild cost of your home.

The graph below shows how a remodel can increase home insurance rates.

 

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

The relationship between the average home insurance premium and remodel value is linear. This means increasing your home's rebuild cost by $50,000 will come with an insurance rate hike that's twice as expensive as the rate hike after a remodel with a $25,000 increase in your home's rebuild cost.

Based on this rate of increase, you'll pay about an extra $258 a year for every additional $50,000 of added rebuild cost after a remodel.

If you're planning to do a home remodel, it's a good idea to speak with your homeowners insurer before the job starts. If you plan on using roofing materials with low fire resistance or weak window panes, you'll probably see an increase in your home insurance rates.

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 homeowners insurance kicks in. 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.

Average cost of homeowners insurance by deductible
Deductible Average annual premium Average monthly premium
$500 $1,863 $155
$1,000 $1,726 $144
$1,500 $1,628 $136
$2,000 $1,540 $128
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 $186 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 $186 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

Home insurance rates vary by company. We looked at average rates from some of the largest home insurance companies.

Average annual premium by company
Company Average annual premium
Allstate $1,714
USAA $1,728
Nationwide $1,759
State Farm $1,854
American Family $1,866
Chubb $1,914
Farmers $2,402
Travelers $2,532
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

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

How to estimate your homeowners insurance rate

Your home and insurance needs are unique, which makes estimating your particular homeowners insurance rate challenging. But we crunched tens of thousands of data points to help get you in the right ballpark.

To estimate your homeowners insurance cost, you'll first need to consider how much coverage you need. There are six coverages in a standard home insurance policy, which all influence the cost of homeowners insurance:

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

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 percent listed for your state in our cost by state table.

For example, say you believe you need $350,000 of dwelling coverage and you live in Wisconsin. Based on the dwelling coverage graph, your baseline rate for $350,000 is $2,194. Then, because Wisconsin's rates are 28% less than the national average, decrease $2,194 by 28% to get $1,710. This is the estimate of how much you'll pay for homeowners insurance.

How to save on homeowners insurance

There are a handful of ways to reduce your home insurance premiums. Here are our top four.

Switch companies

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.

Bundle multiple policies

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.

Increase your deductible

Based on our research, increasing your deductible from $500 to $2,000 can save you $323. If you choose to change 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.

Upgrade your home's materials

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.

For more ideas on how to reduce your insurance bill, see our article on how to save on homeowners insurance.

Most common home insurance losses

Property damage makes up more than 98% of all homeowners insurance claims, with liability claims comprising just under 2%. Of property claims, wind, hail, fire and lightning are the most common.

Cause of loss Percent of losses incurred
Wind and hail 34.4%
Fire and lightning 32.7%
Water damage and freezing 23.8%
Theft 1%
All other property damage 6.2%
Liability 1.9%
Source: Insurance Information Institute

Home insurance rate factors

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
Age Age and material Local property crime rates
Household size Safety features Proximity to emergency services

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.

Frequently asked questions

Q: How much does homeowners insurance cost?

A: Homeowners insurance costs $1,726 a year on average, according to our study.

Q: What determines the cost of homeowners insurance?

A: 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.

Q: How much homeowners insurance do I need?

A: 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

Average cost by state calculation

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

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

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:

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

Average cost by home value calculation

We analyzed quotes with dwelling coverages ranging from $150,000 to $400,000, in $50,000 increments, to find the average for each dwelling amount. States used for averages include Arizona, Connecticut, Florida and Illinois.

Average cost by deductible calculation

We aggregated quotes using the following deductibles: $500, $1,000, $1,500 and $2,000.

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