Save Money on Average Homeowners Insurance Rates

Find an agent and get affordable insurance for your home in 2023

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) 

Why Do I Need an Insurance Agent for My Home Insurance?  

When it comes to purchasing home insurance, many people purchase insurance policy from an insurance company. While this is an option but is beneficial using an insurance agent. In fact, we recommend that everyone should work with an insurance agent when purchasing insurance for their home. Here is why you need an insurance agent for your home insurance:  

Knowledge and Experience 

Insurance agents near me are knowledgeable and experienced in the home insurance industry. They have a keen understanding of the different types of insurance available and the different coverage options. They also know various companies and their policies, so they will help you find the best coverage for your situation.  

Price Shopping

An insurance agent will help you shop around for the best price for your home insurance. They have access to multiple insurance companies, allowing them to compare quotes and prices in order to get you the best deal.  

Full Service 

An insurance agent provides a full-service experience. They will not only help you shop for the best price, but also provide answers to any insurance-related questions you have. They also will provide guidance on filing a claim and help you understand any fine print in the policy.  

Access to Insurance Experts 

If your home needs a reliable insurance near me, the best insurance agents near me will provide you with a homeowners insurance as per your needs. This will be helpful if you need many types of insurance.  

Claim Support 

An insurance agent will provide additional assistance during the claims process. They will make sure that your claim is handled efficiently and that you receive the compensation you deserve. Working with a homeowner’s insurance agent near me, you will get the best coverage for your home insurance needs. They will help you shop around for the best price, provide answers to your insurance questions, and help you understand the fine print. They help you get additional help during the claims process. A good homeowners insurance agent near me will make buying home insurance a stress-free and rewarding experience. 

Conclusion

If you are looking for insurance near me and want the best insurance agents near me our insurance agents will help you in the process. They have a good knowledge about insurance market and policies that will choose appropriate insurance and provide you affordable insurance near you.

FAQ

Do I Need a Homeowners Insurance?

Homeowners insurance provides financial protection for your home and assets. Find an insurance agent and get an appropriate and reliable insurance for your home.

How Do I Save Money Using an Insurance Agent?

An experienced insurance agent will help you shop with different insurance companies and policies, so that you find the one that is best for your needs and budget.

What Is the Best Insurance for Homeowners?

The best insurance for homeowners is one that provides comprehensive coverage, with flexible coverage options and competitive rates.

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.