Your home may be your biggest investment. The purpose of home insurance is to help you recover financially after a disaster, whether it's a house fire, a natural disaster like a tornado, or even certain lawsuits against you.
You may need to buy homeowners insurance because it's required by your mortgage lender. But even if your house is paid off, home insurance is an important financial safety net.
Home insurance quotes are based on details about the house, its location and you personally. Factors in price include:
- The cost to rebuild the house (determined by size, construction type and local construction costs).
- The town's fire protection rating.
- Claims in the area (such as thefts or past natural disaster claims).
- Your credit (except in California, Massachusetts and Maryland).
- Your history of making home insurance claims.
- The coverage levels you choose, including coverage amounts for your possessions (called contents coverage) and liability (for claims against you).
How much will homeowners insurance cost?
The average cost of home insurance nationwide is $1,173, according to the National Association of Insurance Commissioners.
| State | Average home insurance cost |
|---|---|
| Alabama | $1,728 |
| Alaska | $1,028 |
| Arizona | $921 |
| Arkansas | $1,746 |
| California | $857 |
| Colorado | $1,481 |
| Connecticut | $1,309 |
| Countrywide | $1,238 |
| Delaware | $830 |
| District of Columbia | $1,057 |
| Florida | $2,517 |
| Georgia | $1,363 |
| Hawaii | $927 |
| Idaho | $837 |
| Illinois | $1,064 |
| Indiana | $1,211 |
| Iowa | $1,175 |
| Kansas | $1,831 |
| Kentucky | $1,353 |
| Louisiana | $2,528 |
| Maine | $952 |
| Maryland | $1,030 |
| Massachusetts | $1,235 |
| Michigan | $1,036 |
| Minnesota | $1,530 |
| Mississippi | $2,021 |
| Missouri | $1,468 |
| Montana | $1,285 |
| Nebraska | $1,774 |
| Nevada | $799 |
| New Hampshire | $999 |
| New Jersey | $1,057 |
| New Mexico | $1,166 |
| New York | $1,329 |
| North Carolina | $1,341 |
| North Dakota | $1,521 |
| Ohio | $997 |
| Oklahoma | $2,482 |
| Oregon | $722 |
| Pennsylvania | $1,044 |
| Rhode Island | $1,490 |
| South Carolina | $1,557 |
| South Dakota | $1,476 |
| Tennessee | $1,407 |
| Texas | $2,243 |
| Utah | $745 |
| Vermont | $917 |
| Virginia | $991 |
| Washington | $849 |
| West Virginia | $1,190 |
| Wisconsin | $862 |
| Wyoming | $1,289 |
| Source: National Association of Insurance Commissioners, 2017 home insurance report. Used with permission. Based on $300,000 to $399,999 in coverage | |
Use the map below to see average costs in your state based on coverage amounts.
Homeowners insurance policies generally include other important coverage types:
- Additional living expenses coverage. Sometimes called "loss of use," this coverage reimburses you for extra expenses if you can't live at home due to a problem covered by the policy. For example, if you can't live at home because of a kitchen fire, home insurance can cover expenses like a hotel and restaurant bills until repairs are done.
- Liability for claims and lawsuits against you. Home insurance can cover your legal defense and settlements or judgments against you for certain problems you're responsible for. A guest who slips and falls on icy steps and is injured is a common example of a liability claim. Home insurance can also come to the rescue for damage your family causes off the property. For example, if your child accidentally kicks a ball through a neighbor's window, homeowners insurance can cover repairs.
Insurance for natural disasters
Home insurance typically doesn't cover damage from floods and earthquakes. For that you need special policies. Home insurance agents can generally also quote prices for flood and earthquake insurance.
How to save money on homeowners insurance quotes
- Get home insurance quotes from multiple companies. Prices will vary for the same coverage.
- Buy your auto and homeowners insurance from the same insurer. This "bundling" discount is typically one of the better insurance discounts.
- Ask about discounts for smoke detectors, fire alarms or security systems.
- Discounts will vary by company but can also include price breaks for being a loyal customer, using automatic withdrawals for payments, not having home insurance claims, and being over age 55 and retired.
EverQuote can connect you with agents who can give you homeowners insurance quotes and personalized service by answering any questions you have.