The average cost of homeowners insurance in the United States is $1,312 per year, or about $109 per month, for a policy with $250,000 in dwelling coverage. Homeowners insurance is a crucial component of your financial plan. A proper policy shields your finances from the threat of having to pay for repairs after a covered loss.
If you have a mortgage or other type of home loan, you will be required to carry a homeowners insurance policy. Even if you own your home outright, home insurance is a smart purchase. Bankrate’s insurance team monitors the latest data and industry trends to help you understand how much you can expect to pay for your home insurance policy.
How much is homeowners insurance?
How much is homeowners insurance? It depends on several factors, but the national average for home insurance is $1,312 per year for $250,000 in dwelling coverage. However, geographic location plays a significant role in your premiums. Some areas of the country are more prone to natural disasters, for example, while some areas may have higher rebuilding costs. The average rates in the table below can give you a guideline for how much you can expect to pay in your state for a home with a $250,000 dwelling coverage amount.
Cost of homeowners insurance by state
| State | Average annual premium | Average monthly premium | Percent of median household income spent |
|---|---|---|---|
| Alabama | $1,624 | $135 | 2.89% |
| Alaska | $1,040 | $87 | 1.33% |
| Arizona | $1,189 | $99 | 1.68% |
| Arkansas | $2,142 | $179 | 3.93% |
| California | $1,014 | $85 | 1.30% |
| Colorado | $1,659 | $138 | 2.29% |
| Connecticut | $1,184 | $99 | 1.36% |
| Delaware | $680 | $57 | 0.92% |
| Florida | $1,353 | $113 | 2.32% |
| Georgia | $1,376 | $115 | 2.43% |
| Hawaii | $376 | $31 | 0.43% |
| Idaho | $835 | $70 | 1.27% |
| Illinois | $1,322 | $110 | 1.78% |
| Indiana | $1,150 | $96 | 1.72% |
| Iowa | $1,289 | $107 | 1.95% |
| Kansas | $2,694 | $255 | 3.68% |
| Kentucky | $1,839 | $153 | 3.30% |
| Louisiana | $1,813 | $151 | 3.51% |
| Maine | $956 | $80 | 1.44% |
| Maryland | $1,124 | $94 | 1.18% |
| Massachusetts | $1,307 | $109 | 1.49% |
| Michigan | $1,120 | $93 | 1.75% |
| Minnesota | $1,785 | $149 | 2.19% |
| Mississippi | $1,773 | $148 | 3.96% |
| Missouri | $1,558 | $130 | 2.57% |
| Montana | $1,826 | $152 | 3.03% |
| Nebraska | $2,816 | $235 | 3.85% |
| Nevada | $822 | $69 | 1.16% |
| New Hampshire | $724 | $60 | 0.83% |
| New Jersey | $751 | $63 | 0.86% |
| New Mexico | $2,024 | $169 | 3.81% |
| New York | $987 | $82 | 1.37% |
| North Carolina | $1,295 | $108 | 2.12% |
| North Dakota | $1,841 | $153 | 2.63% |
| Ohio | $1,111 | $93 | 1.72% |
| Oklahoma | $3,519 | $293 | 5.92% |
| Oregon | $712 | $59 | 0.96% |
| Pennsylvania | $730 | $61 | 1.03% |
| Rhode Island | $1,193 | $99 | 1.70% |
| South Carolina | $1,142 | $95 | 1.84% |
| South Dakota | $1,917 | $160 | 2.98% |
| Tennessee | $1,625 | $135 | 2.87% |
| Texas | $1,863 | $155 | 2.76% |
| Utah | $647 | $54 | 0.77% |
| Vermont | $686 | $57 | 0.92% |
| Virginia | $1,013 | $84 | 1.25% |
| Washington | $863 | $72 | 1.05% |
| Washington, D.C. | $902 | $82 | 1.06% |
| West Virginia | $1,124 | $75 | 2.09% |
| Wisconsin | $986 | $82 | 1.46% |
| Wyoming | $805 | $67 | 1.24% |