YOU ASK:

What is the Homeowners insurance average cost?

WE ANSWER:

The national average cost of Homeowners insurance is $804 a year, according to the National Association of Insurance Commissioners. Still, home insurance prices vary greatly from state to state: you can pay between $500 and $1,500 a year to have your home and personal property protected against loss.

A number of factors, such as location, property and content value and most importantly - the likelihood of natural events - come into play to determine Homeowners insurance premiums. Homes situated in areas prone to natural disasters are more expensive to insure, and some companies might even refuse to insure dwellings in high-risk zones which have a rich history of damage claims.

States with Low-Cost Homeowners Insurance

Moderate and low-risk states, where property prices, repair costs and construction material prices are not high, usually pay Homeowners insurance premiums on the lower end of the spectrum. Here is a list of the states with some of the lowest Homeowners insurance costs:

Arizona - $640
Delaware - $530
Idaho - $477
Illinois - $674
Indiana - 638
Iowa - $596
Kentucky - $637
Maine - $573
New Mexico - $638
North Carolina - $649
Ohio - $530
Oregon - $502
Pennsylvania - $643
South Dakota - $628
Utah - $494
Washington - $603
Wisconsin - $490
Wyoming - $648

States with Expensive Homeowners Insurance

Areas which are more prone to the destructive force of natural disasters such as earthquake, flood, hail or storm have higher Homeowners insurance costs. To lower their premiums, home owners are encouraged to install damage-prevention features which minimize the risk of loss.

Here is a list of the states which typically have some of the highest average Homeowners insurance rates:

California - $937
District of Columbia - $1,012
Florida - $1,386
Louisiana - $1,257
Massachusetts - $925
Mississippi - $998
Oklahoma - $1,018
Rhode Island - $919
Texas - $1,409.

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