How Much Does Homeowners Insurance Cost in 2024?

In the ever-inflated markets where many carriers are going bankrupt, and those still left in the game raising their rates to all new heights, it can be daunting to understand if you’re paying what you should be. This post will break down average costs by state for a $300,000 home with a $1,000 deductible, explain factors affecting rates, and highlight some key things to consider when shopping for coverage.

Alabama$3,147
Alaska$1,708
Arizona$2,490
Arkansas$3,958
California$1,405
Colorado$4,099
Conneticut$2,231
Delaware$1,384
Florida$4,419
Georgia$2,302
Hawaii$613
Idaho$1,961
Illinois$3,062
Indiana$2,991
Iowa$2,654
Kansas$4,843
Kentucky$3,326
Louisiana$3,594
Maine$1,391
Maryland$1,715
Massachusetts$1,640
Michigan$2,411
Minnesota$2,420
Mississippi$3,380
Missouri$3,543
Montana$3,829
Nebraska$4,800
Nevada$1,467
New Hampshire$1,221
New Jersey$1,526
New Mexico$2,647
New York$1,816
North Carolina$2,941
North Dakota$3,147
Ohio$2,160
Oklahoma$5,858
Oregon$1,755
Pennsylvania$1,911
Rhode Island$1,950
South Carolina$2,678
South Dakota$3,390
Tennessee$3,060
Texas$3,851
Utah$1,802
Vermont$1,263
Virginia$2,151
Washington$1,612
West Virginia$1,911
Wisconsin$1,662
Wyoming$1,897

Disclaimer: The data provided represents averages and individual quotes may vary. Information recorded by Insurance.com

beautiful home in oklahoma with sunset and sunflowers

Top 5 Most Expensive States for Homeowners Insurance

  1. Oklahoma – $5,858
  2. Kansas – $4,843
  3. Nebraska – $4,800
  4. Florida – $4,419
  5. Colorado – $4,099
cityscape of honolulu in oahu island, hawaii, us

Top 5 Least Expensive States for Homeowners Insurance

  1. Hawaii – $613
  2. New Hampshire – $1,221
  3. Vermont – $1,263
  4. Washington D.C. – $1,342
  5. Delaware – $1,384

Understanding Your Homeowners Insurance Rates

The average rates listed here are a good starting point, but your individual premium will vary. Here are some key factors that can impact your cost:

  • Location: Living in an area prone to natural disasters or crime typically means higher premiums.
  • Value of your home: The more valuable your home, the higher the coverage cost.
  • Deductible: Choosing a higher deductible lowers your premium but increases your out-of-pocket expense in the event of a claim.
  • Credit score: Generally, a good credit score can qualify you for a lower premium.
  • Claims history: Filing past claims can increase your rates.

The Impact of Weather on Premiums

The recent rise in billion-dollar weather events has significantly impacted insurance rates. Insurance companies need to cover these losses, which can lead to higher premiums in high-risk areas. For example, states like Texas, Kansas, and Missouri experience frequent hailstorms, leading to higher average premiums compared to states with less weather-related risk.

Finding the Right Coverage at the Right Price

Get a free quote from us today! Simply fill out the quick form at the bottom of this page, and we’ll connect you with a licensed agent who can shop multiple carriers to find the perfect fit for your home.

Sherry BermanSherry Berman
17:55 08 Dec 22
We just moved over to e3 with Chris Stone, 1 1/2 years ago. Our house flooded during snowmeggedon in Texas last February. The insurance companies were overwhelmed with phone calls from Texas. Our insurance company was not responding to us on a timely basis, and because of the supply chain shortage, we knew we needed to act quickly. Chris knew who to talk to at our insurance company, and was a total advocate for us and made sure that our needs were being taken care of. Our last insurance agent was the advocate for the insurance company, not us. Chris knows the business inside out. He guided us along the process of what to do. e3 represents many different insurance companies, which gives Chris the ability to guide you into the best policy that meets your needs. He explains the insurance lingo in layman terms, and makes sure that you and your family are protected. My husband and I totally trust Chris to give us the best policy with in our budget.
Andy BermanAndy Berman
21:56 07 Dec 22
e3 Insurance and Chris Stone are simply the best!! After experiencing a flood in our house and a total redo necessary, Chris made the experience completely seamless!! There simply is no one better!!
Alex ThipkhosithkunAlex Thipkhosithkun
19:32 03 Nov 22
I can't say enough good things about Chris at e3 Insurance. He really is an expert in his field and was really helpful and thoughtful through my home and car insurance purchasing experience. But it doesn't stop there. Recently, I was facing a relatively stressful plumbing situation with my newly purchased house and after talking to Chris and putting me in contact with the right people, they had someone come out THAT afternoon-- Amazing!
Austin SandozAustin Sandoz
14:45 06 Oct 22
Chris was a client of mine for a long time. When I reached out to get a quote I was blown away. I found out my brand-new 2022 Jeep was severely underinsured and I had little to no protection for my assets.After comparing my old policy side by side with my new policy he was able to quadruple my coverage and protect my assets for LESS than what I was paying before. When it's done right, it's done right.
Sheryl KlousiaSheryl Klousia
14:29 06 Mar 22
Chris has been extremely helpful in finding us great policies for house and car insurance. He reviews our policy yearly to ensure we are getting the best rate and best coverage… and recommends changing when needed. We are very satisfied with his service… he has saved us so much over the 3 years that we have been with him ! So glad we found him. Our kids all use his services also !
js_loader

Like this article?

Share on Facebook
Share on Twitter
Share on Linkdin
Share on Pinterest

Leave a comment