The average homeowner insurance cost in America is $1,211, but your cost will vary based on your home, location characteristics, and you. You may be able to make some changes to reduce the cost but don’t take it too far—you still want to be sure you have enough coverage if you need it.
Insurance companies try to figure out how much risk your homeowner policy represents. There are some factors that impact the risk that are not under your control, and some that are. For example, a house in the middle of the forest probably has a higher risk for fire than one in the middle of a suburban neighborhood. Regardless of where you live, you can still take measures that keep you and your family safer, like keeping fire extinguishers in the house. In fact, it’s probably a good idea to consider making changes that appear on the rating list, not only for a discount but because they are proven to help!
Factors you can change today:
Factors you can’t change today:
Your insurance rates will be different, but these figures give you a ballpark idea for homes with values around $200,000.
The value of the home itself is one of the largest drivers of insurance cost. Below are the national averages.
Here’s the goal: having the protection that you really need without overpaying. Below are some
ways to reduce your homeowner insurance cost:
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