What Is The Average Cost Of Homeowners Insurance Nationwide?

//What Is The Average Cost Of Homeowners Insurance Nationwide?

After buying a home, you might have been hoping that you could forgo the cost of homeowners insurance. Don’t we all, right? Insurance isn’t the most palatable expense, but it is one that can be necessary nonetheless. If you are about to get a home insurance policy, you are certainly wondering what the costs are going to be. Maybe you are deciding whether or not a home is affordable for you at the moment and need to factor in insurance costs. Let’s look at average costs for home insurance policies to see what you might expect to pay.

As you can imagine

The home insurance costs for homeowners out there vary widely. That is because people own homes of different values. That being said, looking at national averages actually does put the figures in a ballpark range that provides a good look at what you might be quoted from an insurance company. So let’s hop to it, and you can see if the numbers provided end up matching your quote that you receive later on. At any rate, they will give you a general idea anyway. know How To Estimate Your Home Owners Insurance Premium

If you are buying a home that is well under or well over the national average, you are going to likely know, am I right? You can gauge whether or not these numbers apply to you. Furthermore, I am going to give you something else to think about before we crunch the numbers. If you live in say a coastal area or another area that is known for flooding or certain other natural disasters, that can increase the costs of home insurance. In other words, it’s not just the value of your home that is going to factor into whether or not you pay close to the national average for a home insurance policy.


People pay their home insurance policies in different ways. Some have their accounts set up in escrow and attached to their mortgage payments. Some pay month to month, some pay quarterly and some pay annually. These figures you are about to see are annual figures. So let’s get started. Read more blogs .

The average rate for homeowners insurance nationwide is approximately $1200 a year. That is for a home that costs $200k, and it is for a deductible of $1k, which is pretty standard. When it comes to the highest average rates, you’re looking at almost $2k annually, and as for the lowest average rates, you’re looking at about $600 annually. That gives you an idea of what you might expect to pay.

The low end has been detailed, but you know that the high end can be astronomically higher. To give you an idea, this same source quotes some homeowners in Galveston paying as much as $7k a year for a home insurance policy. There are multi-million dollar homes out there of course, but you know where you are on the spectrum of home value vs home insurance cost. Where does your home fit, and based on these figures, how much can you expect to pay? For more information My Meridian Insurnace .