How Much Does Homeowners Insurance Cost? Here Are The 10 Most Expensive States

How much does homeowners insurance cost? This is a question that many new would be homeowners do not ask themselves; however, the cost can be quite significant in some locations. The amount of insurance that you are required to pay may actually make the difference between two properties in different areas, all else being equal. Before you commit yourself, read over this list of the most expensive states to hold homeowner’s insurance in.

How much does homeowner’s insurance cost in Texas?  

Texas is one of the primary areas in the United States that receives a large swath of natural disasters including hail, windstorms, earthquakes, hurricanes, and tornadoes. All of these different types of disasters are not covered under normal insurance policies, and many of them have to be covered independently of each other. Because of this, you can easily pay around $1551 to insure a home for a year, although the rates are going down because of new regulations in the state.

How much does homeowner’s insurance cost in Louisiana?  

A great deal of Louisiana is beneath sea level, meaning that it is a much greater risk than the average location for flooding and winds. This is exactly what caused so much damage during Hurricane Katrina, and the relative age of the buildings there did not help. You will definitely see the upper end of the homeowner’s insurance scale if you choose to live in one of these buildings, and the median in the state is around $1742 for a year of protection.

How much does homeowner’s insurance cost in Oklahoma?  

Oklahoma faces heavy winds and tornadoes on a frequent basis. Because the state of Oklahoma is so flat, there is virtually no natural protection against these two disasters, and Mother Nature trumps and man-made protection that we can currently dream up. The result is a relatively high homeowner’s insurance rate at $1501.

How much does homeowner’s insurance cost in Florida?  

Wildfires, hurricanes, and floods are the three major natural disasters that Florida homeowners have to deal with. However, the most unique factor that is adding to the high insurance for homes in Florida is a fear of global warming. You will pay around $2084 per year for protection from the disasters and the fear.

How much does homeowner’s insurance cost in Mississippi?

Mississippi does not seem like it would be a location with a large homeowner’s insurance culture, especially since it is nowhere near the top when it comes to actual property value. However, it is the age of the property that requires insurance companies to protect themselves more than real estate in more commercially viable Southern states like Georgia. You will pay around $1451 per year to own and protect a home in Mississippi.

How much does homeowner’s insurance cost in New York?  

Cities that are next to bodies of water and very close to other buildings are high risk insurance hazards, thus all of the high priced insurance packages that are consolidated in New England. As one of the centers of high priced real estate in the US, insurance companies have a huge incentive to protect themselves in New York. You can expect to pay $1158 for your protection here.

How much does homeowner’s insurance cost in Connecticut?  

Connecticut is another one of the densely populated New England states that tend to have high insurance rates for homeowners. The high property value also tends to elevate the insurance rates. The fear of water based disasters that have the ability to spread quickly cause the state to have an average annual homeowner’s insurance rate of $1160.

How much does homeowner’s insurance cost in Kansas?  

You may not think of Kansas as a place where many natural disasters happen, but the windstorms and tornadoes that make their way here have virtually no challenge from the landscape. This leads to a $1213 annual homeowner’s insurance rate, one of the highest in the nation for many years running.

How much does homeowner’s insurance cost in Rhode Island?  

The smallest state in the United States shares a border with Connecticut as well as every single one of the concerns about natural disasters. $1233 is your average homeowner’s insurance rate. This does not help the average cost of homeownership here, as Rhode Island is also a relatively expensive state in terms of mortgage rates.

How much does homeowner’s insurance cost in Alabama?  

Finally, Alabama shares a border with Mississippi along with many of its concerns about tornadoes and some windstorms. The flat, open rural areas of Alabama are the most vulnerable, although insurance companies will use the rates in those areas to raise the rates in the more metropolitan areas such as Mobile, Montgomery, and Birmingham. $1248 is your average annual rate in the state, although you may experience some relief because of the relatively low selling price of many of the properties there.

2 Point Highlight

Because the state of Oklahoma is so flat, there is virtually no natural protection against these two disasters, and Mother Nature trumps and man-made protection that we can currently dream up.

As one of the centers of high priced real estate in the US, insurance companies have a huge incentive to protect themselves in New York.