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Our research of the average cost of homeowners insurance included more than 100,000 quotes from dozens of companies for every ZIP code in the U.S. We saw average premiums as low as $38 per month and as high as $344 per month, with a national average of $159 per month. For information about where our numbers came from, check out our methodology.
View average cost of homeowners insurance by:
Average cost of homeowners insurance by state
We saw the average annual cost of home insurance range from $4,125 per year in Nebraska to $458 per year in Hawaii, with a nationwide average of $1,903 per year.
Average US yearly
rate in 2023:
$1,903
| State | Average annual premium | Average monthly premium | Difference from national average |
|---|---|---|---|
| Alabama | $2,179 | $182 | 14.56% |
| Alaska | $1,195 | $100 | -37.17% |
| Arizona | $1,608 | $134 | -15.46% |
| Arkansas | $2,942 | $245 | 54.68% |
| California | $972 | $81 | -48.90% |
| Colorado | $2,934 | $245 | 54.26% |
| Connecticut | $1,738 | $145 | -8.62% |
| Delaware | $921 | $77 | -51.58% |
| District of Columbia | $1,299 | $108 | -31.70% |
| Florida | $2,469 | $206 | 29.74% |
| Georgia | $1,979 | $165 | 4.05% |
| Hawaii | $458 | $38 | -75.92% |
| Idaho | $1,395 | $116 | -26.66% |
| Illinois | $1,834 | $153 | -3.58% |
| Indiana | $1,820 | $152 | -4.31% |
| Iowa | $1,949 | $162 | 2.47% |
| Kansas | $4,076 | $340 | 114.30% |
| Kentucky | $2,936 | $245 | 54.36% |
| Louisiana | $2,420 | $202 | 27.23% |
| Maine | $1,274 | $106 | -33.02% |
| Maryland | $1,226 | $102 | -35.54% |
| Massachusetts | $1,404 | $117 | -26.18% |
| Michigan | $2,017 | $168 | 6.05% |
| Minnesota | $2,235 | $186 | 17.51% |
| Mississippi | $2,691 | $224 | 41.48% |
| Missouri | $2,596 | $216 | 36.49% |
| Montana | $2,265 | $189 | 19.09% |
| Nebraska | $4,125 | $344 | 116.88% |
| Nevada | $1,124 | $94 | -43.22% |
| New Hampshire | $848 | $71 | -55.42% |
| New Jersey | $1,022 | $85 | -46.27% |
| New Mexico | $2,289 | $191 | 20.35% |
| New York | $1,189 | $99 | -37.49% |
| North Carolina | $2,597 | $216 | 36.54% |
| North Dakota | $1,979 | $165 | 4.05% |
| Ohio | $1,285 | $107 | -32.44% |
| Oklahoma | $3,748 | $312 | 97.06% |
| Oregon | $1,239 | $103 | -34.86% |
| Pennsylvania | $1,128 | $94 | -40.69% |
| Rhode Island | $1,392 | $116 | -27.69% |
| South Carolina | $2,502 | $209 | 31.55% |
| South Dakota | $2,829 | $236 | 48.74% |
| Tennessee | $2,047 | $171 | 7.62% |
| Texas | $3,884 | $324 | 104.21% |
| Utah | $995 | $83 | -47.69% |
| Vermont | $1,263 | $105 | -33.60% |
| Virginia | $1,242 | $104 | -34.70% |
| Washington | $969 | $81 | -49.05% |
| West Virginia | $1,717 | $143 | -9.73% |
| Wisconsin | $1,196 | $100 | -37.12% |
| Wyoming | $1,637 | $136 | -13.93% |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |||
Insurance companies consider many factors in determining your rates, including the risk profile of your state. For example, Florida's climate puts it at a higher risk of hurricanes, which is reflected in the state's higher premiums.
The table above can help you get a sense of the average cost of home insurance across the country so you know what to expect when purchasing homeowners insurance. Find your state in our state guide for more information.
Most expensive states for homeowners insurance
- Nebraska: $4,125
- Kansas: $4,076
- Texas: $3,884
- Oklahoma: $3,748
- Arkansas: $2,942
Least expensive states for homeowners insurance
- Hawaii: $458
- New Hampshire: $848
- Delaware: $921
- Washington: $969
- California: $972
Nebraska and Kansas are the most expensive states for homeowners insurance, likely because they are in Tornado Alley. Natural disasters are frequent in the states with the highest average home insurance rates in the U.S.
Hawaii is the cheapest state for home insurance, with an average premium of $458 per year. New Hampshire, Delaware, Washington and California are also among the least expensive states for home insurance. This is because they're impacted by fewer natural disasters or have homes that are newer or cheaper than elsewhere.
Compare rates from the top insurers in the U.S.
Average cost of homeowners insurance by coverage amount
The cost of homeowners insurance changes based on how much coverage you choose. We analyzed thousands of quotes for five different dwelling coverage amounts, which is the amount for which your house's structure is insured. We used dwelling coverages ranging from $200,000 to $500,000 while gathering quotes. Here are some selected values:
| Dwelling coverage | Average annual premium |
|---|---|
| $200,000 | $1,904 |
| $275,000 | $2,355 |
| $350,000 | $2,836 |
| $425,000 | $3,344 |
| $500,000 | $3,881 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. States used for averages include Arizona, Georgia, Florida, Texas and Illinois. Your rates may vary. | |
Higher dwelling coverage amounts raise homeowners insurance rates because the insurance company must be prepared to pay out a larger sum in case of a loss. Keep in mind, your dwelling amount is the cost to rebuild your home, not your home's market value. Think of it as the value of your home minus its location. Your dwelling amount depends on your home's materials, its size and local labor costs.
Average cost of homeowners insurance by deductible
Your deductible is the amount of money you pay out of pocket after a loss and before your home insurance kicks in to cover the rest. So, if your insurance company approves a claim for $5,500 and you have a $1,000 deductible, you'll pay $1,000 out of pocket and your insurance will cover the remaining $4,500.
| Deductible | Average annual premium |
|---|---|
| $500 | $2,090 |
| $1,000 | $1,931 |
| $1,500 | $1,830 |
| $2,000 | $1,727 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Based on our figures, increasing your deductible from $1,000 (a common amount) to $2,000 can save you $204 a year. In order for that $2,000 deductible savings to make sense, you'd have to go a little over six years without a claim to warrant saving $204 a year.
You should be prepared to pay your deductible at any time. For instance, if your deductible is $2,000, you should have that cash on hand at all times in case you experience a loss.
Average home insurance premium by company
Erie offers the cheapest average home insurance premium of the companies we surveyed at $1,471 per year. We looked at average rates from some of the largest home insurance companies. Here's how they compare to Erie.
| Company | Average annual premium |
|---|---|
| Allstate | $1,734 |
| American Family | $2,466 |
| Country Financial | $1,876 |
| Chubb | $1,615 |
| Erie | $1,471 |
| Farm Bureau | $2,406 |
| Farmers | $2,168 |
| Nationwide | $2,164 |
| State Farm | $1,888 |
| Travelers | $2,273 |
| USAA | $1,776 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Average home insurance rates by city
We analyzed rates in the 15 largest cities in the U.S. to find the average homeowners insurance cost in each city. Among the most populated cities, Houston has the highest average home insurance rate at $4,614 per year, followed by Dallas at $4,448 per year.
| City | Average annual premium |
|---|---|
| New York City | $1,736 |
| Los Angeles | $1,089 |
| Chicago | $2,053 |
| Houston | $4,614 |
| Phoenix | $1,844 |
| Philadelphia | $1,846 |
| San Antonio | $2,727 |
| San Diego | $874 |
| Dallas | $4,448 |
| San Jose | $813 |
| Austin | $2,653 |
| Jacksonville | $1,761 |
| Fort Worth | $4,639 |
| Columbus | $1,287 |
| Charlotte | $1,648 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
What does home insurance cover?
There are six coverages in a standard home insurance policy, and all of them influence the cost of homeowners insurance. You can lower your home insurance premium by lowering your coverage limits or pay more to get more protection.
| Coverage | What it covers | Typical amount |
|---|---|---|
| Dwelling | Your home's structure | Estimated cost of rebuilding your home |
| Other structures | The other buildings and structures on your property, like garages or sheds | 10% of dwelling |
| Personal property | Your belongings | 50% of dwelling |
| Loss of use | Additional expenses if you're unable to remain in your home | 20% of dwelling |
| Personal liability | The cost of legal defense and medical payments if you are sued for property damage or bodily injury | $100,000 |
| Medical payments to others | Medical bills if a guest is injured on your property | $5,000 |
How to estimate your homeowners insurance rate
According to our data, the biggest factor in determining how much you'll pay for homeowners insurance is your dwelling coverage amount. To estimate how much you'll pay, there are two steps to take: First, get your baseline rate by estimating how much dwelling coverage you need, and second, increase or decrease your baseline rate depending on your state's risk.
Get your baseline rate according to your dwelling coverage by referring to our cost of home insurance by dwelling amount calculation. Once you have this baseline, adjust your premium up or down by the percentage listed for your state in our cost by state table.
See how much you can save when companies compete for your business.
How to save on homeowners insurance
There are several ways to reduce your home insurance premiums, including switching companies, bundling policies and increasing your deductible.
Insurance companies want new customers, so they often attract them with new customer discounts and lower rates. That means you can take advantage of insurance companies competing for your business. It's why we always recommend shopping around and getting multiple quotes.
Some companies, like Allstate, advertise 25% savings if you bundle your home and auto insurance. There are other advantages to bundling besides saving a few bucks. For example, having all of your accounts with a single company can make your bills easier to manage, as you can go to one place to pay them.
Based on our research, increasing your deductible from $500 to $2,000 can save you $363 per year. If you choose to raise your deductible, make sure you have enough cash on hand to be able to pay it in case you suffer a loss and must file a claim.
Insurance companies factor in your home's materials when setting your premiums. For example, if your home is built from materials that are particularly fire prone, or you have structurally weak windows, you may see higher premiums.
Upgrading your roof and windows or reinforcing your home's structure can be great ways to lower your home insurance premiums. While these can be expensive upgrades, they are often still a good idea. Not only can these improvements lower your insurance bill, but they can reduce the chance you'll need to file a claim.
Insurance companies may look at your credit score when determining your rate. According to our research, someone with a poor credit score can pay on average $1,720 more for home insurance compared to someone with a good credit score. To increase your credit score, we recommend paying your credit card bills on time and using 30% or less of your credit limit.
Factors that affect the cost of home insurance
Insurance companies consider many variables, or rate factors, when setting premiums. You can think about them in three buckets: the characteristics of your home, your location and your personal profile. Here are a few important ones:
| You | Your home | Your location |
|---|---|---|
| Claims history | Value | Climate |
| Credit history | Age and material | Local property crime rates |
| Pets | Safety features | Proximity to emergency services |
If you're looking to lower your premium, you can improve your credit score and lower the number of claims you file. The number of claims you've made in the past can affect your risk status and therefore your home insurance premium. Also, many insurance companies charge higher rates or may even deny coverage for homeowners with certain dog breeds that are known to bite.
Insurance companies track many of these factors themselves, such as crime rates and your home's value. But if someone moves in or out, or you upgrade a part of your home, we recommend letting your insurer know. Some factors may lower your rates and some may raise them, but either way, you and your insurer need to be on the same page before a disaster.
Frequently asked questions
Homeowners insurance costs $1,903 a year on average, according to our study.
Many factors, including where you live, your home's level of risk and how much coverage you purchase, affect the cost of homeowners insurance. Our study found that dwelling coverage and location are some of the largest factors.
Your unique situation determines how much homeowners insurance you need. Typically, you'll need enough dwelling coverage to cover the cost of rebuilding your home and enough personal property protection to cover your belongings.
Methodology
We collected quotes from every ZIP code in all 50 states. The following coverages were used:
- $275,000 dwelling coverage (unless otherwise noted)
- $27,500 other structures
- $137,500 personal property
- $55,000 loss of use coverage
- $100,000 liability
- $5,000 medical payments
- $1,000 deductible (unless otherwise noted)
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