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
Find The Right Agent For Your Insurance Needs
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.