How much does monthly homeowner’s insurance cost? Home insurance costs around $231 per month on average. Homeowners insurance costs vary based on variables such as location, property value, and coverage levels. Here are monthly costs for popular levels of homeowners insurance coverage. How much does homeowner’s insurance cost by level of coverage?
What Is the Average Cost of Homeowners Insurance in 2022? According to a 2021 study by the National Association of Insurance Commissioners (NAIC), the average cost of homeowners insurance is $1,249 per year, or $104,08 per month. Location, property value, coverage levels, and discounts will influence the price of your homeowner’s insurance quotation.
- In this study, the House Media reviews team discusses these elements in order to assist you in selecting the ideal for your home.
- We used the January 2021 edition of the NAIC’s for the home insurance price information in this article.
- The national average yearly cost of house insurance in 2018 was $1,249 (the most recent data available from the 2021 NAIC report), however categorizing the rates by the dwelling coverage level you chose can offer a more precise estimate of what you may spend.
Dwelling coverage reimburses you for any covered damage to your home’s structure, and a premium is the amount of money you pay to maintain your policy. In the table below, we’ve outlined many tiers of dwelling coverage and the typical monthly premium for each tier:
| Amount of Dwelling Coverage | Average Monthly Premium |
|---|---|
| $49,999 and under | $645 |
| $50,000–$74,999 | $748 |
| $75,000–$99,999 | $826 |
| $100,000–$124,999 | $937 |
| $150,000–$174,999 | $981 |
| $175,000–$199,999 | $1,018 |
| $200,000–$299,999 | $1,114 |
| $300,000–$399,999 | $1,272 |
| $400,000–$499,999 | $1,482 |
| $500,000 and over | $2,148 |
How much does renter’s insurance cost on average per month?
- The average cost of renters insurance is around $27 per month, or $326 per year.
- If you rent a condo, house, or apartment, renters insurance is relatively reasonable and financially protects you.
- The cost of your renters’ insurance is determined in part by your credit history, where you reside, and the quantity of coverage you choose.
What is the average price of homeowners insurance?
What influences the cost of homeowners insurance? According to an investigation by NerdWallet, annual home insurance premiums average $1,784. However, this is only a standard. Our sample coverage is