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How Much Does Homeowners Insurance Cost?

The national average for homeowners insurance is $2,305 per year though prices can vary depending on your location, the condition of the dwelling, marital status, credit score and individual policy factors. Read on to learn more.

The above is based for a home with a value of $300,000 with personal liability coverage and a deductible of $1,000.

Types Of Home Insurance

Most home insurance policies will include the following:

  • Dwelling insurance: This pays for covered damages to your home’s primary structure and attached structures.
  • Personal property insurance: This protects the contents of your home, including electronics, clothing and furniture.
  • Personal liability insurance: This pays for medical expenses or property damage if a court rules you are financially responsible for an incident involving your home or your property.
  • Medical payments insurance: This covers the medical expenses of someone outside your household who sustains an injury on your property, regardless of fault.

Additional Factors

  • How close is your local fire department? If you live in a rural area, you may higher premiums.
  • Older houses can cost more to insure as replacing features can be more expensive.
  • The condition and age of the roof as well as the material it is made from may impact the cost depending on the replacement of the roof.
  • If the house needs bringing up to current building codes, there may be additional expenses to bring them up to code.
  • If your property is in a flood plain you may pay higher premiums or find yourself not able to obtain insurance.
  • If you property is in a well known area for tornadoes, you may face higher premiums.
  • If your house has special features like a hot tub or a swimming pool, the liability may go up because of injury risk.


Homeowners Insurance Quotes

From offering liability protection for you and your family to helping you get reimbursed for personal property damage, homeowners insurance provides many types of coverage. Learn more about Homeowners Insurance Coverage or get a free homeowners insurance quote from Klimes Insurance today. Call us at  (480) 596-9456 for more information.

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