Homeowners insurance is an insurance type designed to help homeowners pay for their house repairs, replacement costs and other living expenses in case anything happens to the house. Unexpected damages caused either by natural disasters (storms, lightening, hail, etc.) or men’s absentmindedness (fire, thefts, etc.) can make homeowners face great financial expenses. Yet, having the right homeowners insurance policy, one can deal with such embarrassing situations with a dignity!
The rates of homeowners insurance keeps on steadily growing every year. During the past ten years the number of insureds have grown over 50% in the United States only. And if you are planning to purchase one of these policies, you certainly need to learn how much is homeowners insurance. Well, depending on the State you are living in the price for your homeowners insurance differs. So, to know the approximate price how much is home insurance, let us have a look at the information below:
1. States Offering the Highest Homeowners Insurance Prices
The states, which are more exposed to natural disasters than others request higher prices for homeowners insurance. For instance the four “victims” of frequent hurricanes are Florida, Louisiana, Mississippi and Texas. These States along with Oklahoma, which suffers from tornadoes much more than any other area in the United States request the highest homeowners insurance costs. To have an idea how much is homeowners insurance in each of these states, look at the list below:
Florida- $165.91 (monthly premium) / $1.991 (annual premium)
Louisiana – $143.51 (monthly premium) / $1.722 (annual premium)
Texas – $135.45 (monthly premium) / $1.625 (annual premium)
Mississippi – $120.94 (monthly premium) / $1.451 (annual premium)
Oklahoma – $118.97 (monthly premium) / $1.428 (annual premium)
These were the average costs of how much is home insurance in the most highly priced States.
2. States Offering the Lowest Homeowners Insurance Costs
Now, let us find out how much is homeowners insurance in the five States that request the lowest monthly and annual premiums in the USA. These States are Idaho, Oregon, Utah, Wisconsin and Washington. All these States are safe places that are away from any type of natural disasters including hurricanes, earthquakes or tornadoes. So let us have a look at more detailed information to find out how much is home insurance in each of these States:
Idaho – $44.47 (monthly premium) / $534 (annual premium)
Oregon – $47.98 (monthly premiums) / $576 (annual premium)
Utah – $48.33 (monthly premium) / $580 (annual premium)
Wisconsin – $50.81 (monthly premium) / $610 (annual premium)
Washington – $53.74 (monthly premium) / $645 (annual premium)
From this chart we can observe how much is homeowners insurance in the safest states of the USA.
The Best Companies Offering Profitable Homeowners Insurance
Through this article we learned how much is home insurance. Now it is high time for us to recommend the most reputable insurance companies you can get profitable policies from.
Here is the list of top 5 best homeowners insurance underwriters that will aid your search:
Top 1 – State Farm Mutual Automobile Insurance
Top 2 – Allstate Corp.
Top 3 – Farmers Insurance Group of Companies
Top 4 – Liberty Mutual
Top 5 – USAA Insurance Group
Applying to each of the above mentioned companies you will receive all the necessary information in case you need to know how much is home insurance they offer.
HOW MUCH IS HOMEOWNERS INSURANCE VIDEO