The average cost of homeowner insurance in the US is $1,754 per year, or $146 per month, according to a 2023 Policy Genius analysis of home insurance premiums in every US state and ZIP code.
Remember that this is just an estimate. Your actual homeowner’s insurance rates will depend on several factors, such as your state, city, or zip code; How much housing coverage you need to fully rebuild your home after a disaster; the size, age, and other characteristics of your home; and personal factors such as your credit score and claims history.
How Much Does Homeowners Insurance Cost in Your State?
Your homeowner’s insurance rate can vary by hundreds or thousands of dollars depending on the state you live in and whether your home is exposed to severe storms or natural disasters. Depending on where you live, you can expect to pay anywhere from about $300 per year to $4,000 per year — a difference of $3,700. Check the map below for the state where you live to see the specific cost of home insurance.
The average cost of home insurance in every state is expected to increase significantly in 2023, but homeowners in states with relatively low risk of natural disasters — like Vermont and New Hampshire — likely won’t see the same level of sticker shock. As in high-risk coastal areas. regions. Is. condition
Here are the average monthly and annual home insurance costs in each state as well as the US. There’s also a percentage difference from the average cost of homeowners insurance in the U.S., which is $1,754 a year.
| State | Average annual cost | Average monthly cost | Difference from national average (%) |
|---|---|---|---|
| Alaska | $1,355 | $113 | -23% |
| Alabama | $1,940 | $162 | 11% |
| Arkansas | $2,838 | $237 | 62% |
| Arizona | $1,667 | $139 | -5% |
| California | $1,383 | $115 | -21% |
| Colorado | $2,322 | $194 | 32% |
| Connecticut | $1,329 | $111 | -24% |
| Deleware | $918 | $77 | -48% |
| Florida | $2,288 | $191 | 30% |
| Georgia | $1,950 | $163 | 11% |
| Hawaii | $486 | $41 | -72% |
| Iowa | $1,686 | $141 | -4% |
| Idaho | $1,258 | $105 | -28% |
| Illinois | $1,720 | $143 | -2% |
| Indiana | $1,668 | $139 | -5% |
| Kansas | $2,981 | $248 | 70% |
| Kentucky | $2,565 | $214 | 46% |
| Louisiana | $2,452 | $204 | 40% |
| Massachusetts | $1,275 | $106 | -27% |
| Maryland | $1,539 | $128 | -12% |
| Maine | $1,020 | $85 | -42% |
| Michigan | $1,422 | $119 | -19% |
| Minnesota | $1,829 | $152 | 4% |
| Missouri | $2,579 | $215 | 47% |
| Mississippi | $2,624 | $219 | 50% |
| Montana | $2,140 | $178 | 22% |
| North Carolina | $1,545 | $129 | -12% |
| North Dakota | $1,884 | $157 | 7% |
| Nebraska | $3,510 | $293 | 100% |
| New Hampshire | $953 | $79 | -46% |
| New Jersey | $886 | $74 | -49% |
| New Mexico | $1,681 | $140 | -4% |
| Nevada | $1,191 | $99 | -32% |
| New York | $1,114 | $93 | -36% |
| Ohio | $1,236 | $103 | -30% |
| Oklahoma | $4,161 | $347 | 137% |
| Oregon | $869 | $72 | -50% |
| Pennsylvania | $1,101 | $92 | -37% |
| Rhode Island | $1,303 | $109 | -26% |
| South Carolina | $1,653 | $138 | -6% |
| South Dakota | $311 | $26 | -82% |
| Tennessee | $2,095 | $175 | 19% |
| Texas | $2,919 | $243 | 66% |
| Utah | $894 | $75 | -49% |
| Virginia | $1,277 | $106 | -27% |
| Vermont | $865 | $72 | -51% |
| Washington | $1,159 | $97 | -34% |
| Wisconsin | $1,150 | $96 | -34% |
| West Virginia | $1,426 | $119 | -19% |
| Wyoming | $1,547 | $129 | -12% |
What are the Cheapest & Most Expensive States for Home Insurance?
The states with the cheapest average cost of homeowners insurance in 2024 are South Dakota, Hawaii, Vermont, Oregon, and New Jersey. In all of these states, the average home insurance premium for a home with $300,000 in residence coverage is less than $1,000 per year.
Most Affordable States for Homeowners Insurance
1. South Dakota: $311 per year
2. Hawaii: $486 per year
3. Vermont: $865 per year
4. Oregon: $869 per year
5. New Jersey: $886 per year
On the other hand, the states with the most expensive average home insurance costs in 2024 are Oklahoma, Nebraska, Kansas, Texas, and Arkansas. One thing these states have in common? All are located in or near Tornado Alley – an area of the country that experiences frequent thunderstorms and hailstorms throughout the year.
Most Expensive States for Homeowners Insurance
1. Oklahoma: $4,161 per year
2. Nebraska: $3,510 per year
3. Kansas: $2,981 per year
4. Texas: $2,919 per year
5. Arkansas: $2,838 per year
How much does Home Insurance Cost in your City?
To find the average cost of homeowners insurance by city, we searched the U.S. and analyzed premiums from more than a dozen carriers in the 67 largest US metropolitan areas. To make sure we’re providing meaningful insight to homeowners, we calculated and broke down, the average annual and monthly rates for each city. See below to see how these prices compare to the overall average for the state where the city is located.
The most expensive rate in Miami was $3,572 per year, while Portland’s average rate of $801 per year was the cheapest of the cities we analyzed.
| City | Average annual cost | Average monthly cost | Difference from state average (%) |
|---|---|---|---|
| Albany, NY | $1,025 | $85 | -8% |
| Albuquerque, NM | $1,488 | $124 | -11% |
| Atlanta, GA | $2,049 | $171 | 5% |
| Austin, TX | $2,158 | $180 | -26% |
| Baltimore, MD | $1,826 | $152 | 19% |
| Boston, MA | $1,467 | $122 | 15% |
| Charlotte, NC | $1,605 | $134 | 4% |
| Chicago, IL | $2,130 | $178 | 24% |
| Cincinnati, OH | $1,240 | $103 | 0% |
| Cleveland, OH | $1,239 | $103 | 0% |
| Colorado Springs, CO | $2,984 | $249 | 29% |
| Columbus, OH | $1,266 | $106 | 2% |
| Corpus Christi, TX | $2,466 | $206 | -16% |
| Dallas, TX | $3,284 | $274 | 13% |
| Denver, CO | $3,021 | $252 | 30% |
| Detroit, MI | $2,327 | $194 | 64% |
| Durham, NC | $1,749 | $146 | 13% |
| Fort Myers, FL | $1,909 | $159 | -17% |
| Fort Worth, TX | $3,258 | $272 | 12% |
| Hartford, CT | $1,479 | $123 | 11% |
| Henderson, NV | $1,183 | $99 | -1% |
| Houston, TX | $2,936 | $245 | 1% |
| Indianapolis, IN | $1,831 | $153 | 10% |
| Jacksonville, FL | $1,884 | $157 | -18% |
| Jersey City, NJ | $1,029 | $86 | 16% |
| Kansas City, KS | $2,567 | $214 | -14% |
| Lakewood, CO | $2,864 | $239 | 23% |
| Las Vegas, NV | $1,249 | $104 | 5% |
| Los Angeles, CA | $1,566 | $131 | 13% |
| Louisville, KY | $2,086 | $174 | -19% |
| Memphis, TN | $2,197 | $183 | 5% |
| Miami, FL | $3,572 | $298 | 56% |
| Milwaukee, WI | $1,235 | $103 | 7% |
| Minneapolis, MN | $2,010 | $168 | 10% |
| Naples, FL | $2,502 | $209 | 9% |
| Nashville, TN | $2,023 | $169 | -3% |
| Newark, NJ | $1,032 | $86 | 16% |
| New Orleans, LA | $2,805 | $234 | 14% |
| New York,NY | $1,511 | $126 | 36% |
| Ocala, FL | $1,945 | $162 | -15% |
| Odessa, TX | $3,375 | $281 | 16% |
| Olathe, KS | $2,405 | $200 | -19% |
| Orlando, FL | $2,315 | $193 | 1% |
| Philadelphia, PA | $1,654 | $138 | 50% |
| Phoenix, AZ | $1,781 | $148 | 7% |
| Pittsburgh, PA | $1,138 | $95 | 3% |
| Portland, OR | $801 | $67 | -8% |
| Raleigh, NC | $1,760 | $147 | 14% |
| Richmond, VA | $1,257 | $105 | -2% |
| Sacramento, CA | $1,237 | $103 | -11% |
| Salt Lake City, UT | $899 | $75 | 1% |
| San Antonio, TX | $2,365 | $197 | -19% |
| San Diego, CA | $1,333 | $111 | -4% |
| San Francisco, CA | $1,244 | $104 | -10% |
| San Jose, CA | $1,258 | $105 | -9% |
| Santa Fe, NM | $1,434 | $120 | -15% |
| Savannah, GA | $1,887 | $157 | -3% |
| Scottsdale, AZ | $1,643 | $137 | -1% |
| Seattle, WA | $1,130 | $94 | -3% |
| Spokane, WA | $1,176 | $98 | 1% |
| Springfield, MO | $2,475 | $206 | -4% |
| St. Louis, MO | $2,389 | $199 | -7% |
| Tallahassee, FL | $1,888 | $157 | -17% |
| Tampa, FL | $2,266 | $189 | -1% |
| Tucson, AZ | $1,621 | $135 | -3% |
| Tulsa, OK | $3,735 | $311 | -10% |
| Virginia Beach, VA | $1,947 | $162 | 52% |
Average Homeowners Insurance Cost by the Company
Home insurance rates can vary greatly from company to company – even for the same home or coverage amount. This is because each company has its way of assessing risk and determining home insurance premiums.
For example, while Company A may offer the cheapest rates for homeowners with low credit scores or homes that are at risk of insurance, Company B offers better discounts or more competitive rates for less risky properties. can offer To find out which company offers the best coverage at the cheapest price for your situation, you may want to compare home insurance quotes from multiple providers.
Looking at the average annual cost of home insurance for the largest home insurance companies in the U.S. by market share, we found that Erie has the lowest rate at $1,284 per year, while Country Financial has the most expensive average annual rate. The premium is $2,646.
| Company | Average annual cost | Average monthly cost | Difference from national average (%) |
|---|---|---|---|
| Erie | $1,284 | $107 | -27% |
| AIG | $1,339 | $112 | -24% |
| Narragansett Bay | $1,373 | $114 | -22% |
| Auto-owners Insurance | $1,406 | $117 | -20% |
| USAA | $1,479 | $123 | -16% |
| Homesite | $1,487 | $124 | -15% |
| Travelers | $1,568 | $131 | -11% |
| Safeco | $1,633 | $136 | -7% |
| Allstate | $1,650 | $137 | -6% |
| American Family | $1,692 | $141 | -4% |
| Chubb | $1,706 | $142 | -3% |
| Amica | $1,756 | $146 | 0% |
| Mercury | $1,835 | $153 | 5% |
| Farmers | $1,845 | $154 | 5% |
| AAA | $1,879 | $157 | 7% |
| State Farm | $1,887 | $157 | 8% |
| Nationwide | $1,966 | $164 | 12% |
| The Hartford | $2,493 | $208 | 42% |
| Country Financial | $2,646 | $220 | 51% |
How different factors affect Homeowners Insurance Rates
In addition to where you live and how much coverage you need, most home insurance companies consider the age of your home, your claims history, and the level of your deductible when estimating your premium. will
Here are some of the factors that home insurance companies consider when determining your homeowner’s insurance rates, along with how much you can expect to pay for each given scenario.
Average Homeowners Insurance Cost by Home Age
Older homes are often built with older materials that are more expensive to replace. Additionally, many people have outdated plumbing, electrical, and home systems that increase the chance of accidental fire or water damage.
Given the increased risk of loss and claims, you’ll typically pay more for home insurance as your home ages. On average, it’s about $800 cheaper to insure a new home than a 30-year-old home.
| Age of home | Average annual cost | Average monthly cost |
|---|---|---|
| New | $1,107 | $92 |
| 10 years old | $1,635 | $136 |
| 20 years old | $1,868 | $156 |
| 30 years old | $1,925 | $160 |
| 100 years old | $1,943 | $162 |
How to Lower Home Insurance Costs
Homeowners insurance rates are rising everywhere due to higher rebuilding costs, more severe natural disasters, and other things beyond our control.
But there are many steps you can take to lower your rates and make sure you’re not paying more than you should for homeowners insurance.
Compare home insurance quotes: Experts recommend comparing home insurance rates from multiple companies at least once a year to make sure you’re not missing out on a better deal elsewhere. PolicyGenius saves customers an average of $455 a year on repurchasing their homeowner’s insurance.
Bundle home and auto insurance policies: One surefire way to lower insurance costs is to combine home and auto insurance with the same company. PolicyGenius saves customers an average of $1,250 annually when they bundle their policies through our partner insurance company.
Install home security devices or features: When you take steps to make your home safer, such as by installing a home security system or air-reducing features, you may be able to save a lot of money on your insurance bill.
Improve your credit score: Making a conscious effort to pay down your credit card debt, making payments on time, and avoiding opening new accounts will help your overall financial health – and help lower your home insurance rates.
Increase your deductible amount: Choosing a higher deductible option can help you pay lower premiums each month. Just make sure you have enough savings to cover out-of-pocket expenses.
Choose the right amount of coverage: According to the PolicyGenius Home Insurance and Inflation Shopping Survey, only 44% of American homeowners reviewed their home insurance policies from January 2022 to January 2023 to see how much coverage they have. This means you could be missing out on getting rid of coverage you don’t need to lower your rates.
Think twice before filing a small claim: Since your claims history directly affects the cost of your home insurance, avoid filing claims for small incidents that won’t cost you much to pay out of pocket.
Reconsider liability risks: Trampolines, treehouses, and other “attractive nuisances” are liability risks, and having one on your property can lead to higher premiums. If your child has gone off to college and you no longer have any use for these structures, consider removing them to lower your home insurance rate.
When analyzing costs for different levels of coverage and risk factors, we changed only one variable at a time to ensure that the rates we were comparing were fair and current factors. represented.
Some carriers may be represented by affiliates or subsidiaries. The rates provided are indicative of costs. Your actual quote may vary.