Compare Average Homeowners Insurance Rates In USA This 2022

According to a survey by Forbes, the average annual cost of homeowners insurance is $1,854. This applies to a homeowners insurance plan with a $300,000 dwelling coverage deductible and a $100,000 liability deductible. 

With an average cost of $1,236 among major home insurance providers, Progressive was the least expensive. The most expensive company, Travelers, charged $2,871, which is $1,635 more than Progressive. 

Because every insurance company has its pricing system, rates vary widely amongst them. Therefore, it’s critical to shop around when purchasing a homeowner’s policy. Before you browse around, you won’t know which firm will give you the best deals and maybe save you hundreds of dollars. 

Average Cost of Home Insurance by State  

Hawaii is the least expensive state for homeowners’ insurance, with an average cost of $558, according to our research of typical premiums by state. Oklahoma, which has an average yearly rate of $4,122, is at the other extreme of the spectrum. The $3,564 pricing disparity demonstrates how important a home’s location is. 

The remaining five states with the most affordable house insurance rates are: 
Utah: $817 
Oregon: $834 
Vermont: $944 
New Hampshire: $961 

Other states, like Oklahoma, which are essential in the middle of the nation and are prone to severe weather, are among the states with the highest home insurance costs: 
Nebraska: $3,309 
Kansas: $3,035 
Texas: $3,013 
Louisiana: $2,988

Source: Forbes Advisor 

State 

Average annual home insurance rates 

Average monthly premium* 

Alabama  $2,236  $133 
Alaska  $1,247  $83 
Arizona  $1,495  $101 
Arkansas  $2,595  $175 
California  $1,171  $90 
Colorado  $2,761  $155 
Connecticut  $1,614  $101 
Delaware  $1,026  $57 
District of Columbia  $1,118  $137 
Florida  $2,173  $114 
Georgia  $1,632  $32 
Hawaii  $558  $72 
Idaho  $1,073  $115 
Illinois  $1,812  $98 
Indiana  $1,517  $108 
Iowa  $1,729  $233 
Kansas  $3,035  $152 
Kentucky  $2,376  $167 
Louisiana  $2,988  $79 
Maine  $1,035  $95 
Maryland  $1,241  $106 
Massachusetts  $1,474  $108 
Michigan  $1,602  $157 
Minnesota  $2,000  $153 
Mississippi  $2,899  $137 
Missouri  $2,504  $146 
Montana  $1,990  $237 
Nebraska  $3,309  $73 
Nevada  $1,083  $61 
New Hampshire  $961  $65 
New Jersey  $978  $162 
New Mexico  $1,724  $107 
New York  $1,226  $110 
North Carolina  $2,452  $156 
North Dakota  $2,086  $93 
Ohio  $1,177  $299 
Oklahoma  $4,122  $59 
Oregon  $834  $66 
Pennsylvania  $1,079  $102 
Rhode Island  $1,326  $97 
South Carolina  $1,599  $170 
South Dakota  $2,571  $137 
Tennessee  $1,747  $155 
Texas  $3,013  $56 
Utah  $817  $56 
Vermont  $944  $77 
Virginia  $1,292  $75 
Washington  $1,221  $75 
West Virginia  $1,426  $91 
Wisconsin  $1,078  $77 
Wyoming  $1,423  $75 

Source: Forbes Advisor 

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Factors That Affect Homeowners Insurance Cost

When determining home insurance prices, insurance companies frequently take into account a number of variables, such as: 

  • Location of your house 
  • The cost of building a new home 
  • Materials like wood, stone, or brick were utilized to build the house 
  • The house age 
  • Location of your home’s fire rating (how close are you to a fire hydrant or water source and fire department) 
  • Your individual claims background 
  • The history of claims at your property 
  • Your choice of coverage and policy limits
  • The chosen deductible 
  • Your credit score (except in California, Maryland, and Massachusetts) 

Agency Height is a platform for insureds and insurance agents to connect with each other. Our insurance news portal is developed for informational purposes only. The content provided in Agency Height’s insurance news portal focuses on the latest local and national news circulating in different parts of the U.S. The rightful credit is provided to the respective news sites and insurance journals, from which we have sourced the information.