How Much Is Homeowners Insurance On A $150,000 House? 2022

Table of Content

• Average Homeowners Insurance Cost Per Year for Various Coverage Amounts
• How much is homeowners insurance?
• Does a $150,000 Home Need Replacement Cost Coverage?
• When does a lender require you to purchase homeowners insurance?
• Highest homeowners insurance rates by ZIP code
• I want to get a homeowners insurance quote. My ZIP Code is
• Why do I need homeowners insurance?

The annual home insurance cost of $1,380 is a statewide average and doesn’t include coverage for flooding and earthquakes. Both plans are optional for homeowners and must be purchased separately. Gabi Personal Insurance Agency, Inc., a part of Experian, is a licensed insurance agency that offers insurance products from our network of top-rated insurance companies. We receive a commission, and possibly other performance-based compensation, from insurance companies for our services. You may ask for more information about commissions by emailing us at Some products not available in certain geographies.

Endorsements can cost anywhere from a few dozen dollars to hundreds of dollars per year, depending on the coverage type and limits you buy. If you file a claim during your policy term, you could see an increase in your premium at your renewal. Depending on the severity of your claim, the cause of the damage and the underlying factors on your policy, you may see anywhere from a modest to a substantial increase in premium after a claim. When applying for homeowners insurance, you should shop around and compare quotes from several different providers to get the best deal. You can not only compare rates between different companies but also review different coverage levels and plans.

Average Homeowners Insurance Cost Per Year for Various Coverage Amounts

But, each home's costs for insurance vary widely based on a variety of factors, including your home's value. Robbie is the Vice President, Head of Sales & Customer Experience at Gabi. Robbie is a member of the Chartered Property and Casualty Underwriters society and has a Master of Business Administration from Grand Canyon University. Also, if you have car insurance you can bundle your policies to save even more. Some of the most important are where your home is located, your claims history, the amount of coverage you buy and your home's building materials.

Home insurance protects your house and personal property from damage and ensures that you receive adequate compensation if anything goes wrong. MoneyGeek's homeowners insurance calculator can help you quickly and easily estimate the cost of your homeowners insurance with no personal information. It’s a useful tool whether you’re considering insurance for a property you already own or for a future purchase.

How much is homeowners insurance?

The North Carolina Department of Insurance recommends carrying dwelling coverage equal to at least 80% of the replacement cost. Many homeowners insurance policies will offer all of the above options, but it’s up to you to decide which one makes the most sense for your long-term plans. Your home’s replacement cost value covers how much money it would take to replace your home if it were destroyed or damaged today.

The information you provide will be shared with our business partners so that they can return a quote. If you don't currently have an active flood policy, click "Continue" to get a quote online. We have many GEICO Local Agents across the country ready to help you with your insurance needs. Any information that you provide directly to them is subject to the privacy policy posted on their website. With just a few clicks you can look up the GEICO Insurance Agency partner your Earthquake policy is with to find policy service options and contact information. Login for quick access to your previous policy, where all of your vehicle information is saved.

Does a $150,000 Home Need Replacement Cost Coverage?

In the U.S., home insurance costs an average of $1,383 per year for a policy with $250,000 in dwelling coverage. Keep in mind that your premium will vary based on where you live, your prior claims history, your home’s features and more. While price is important, seeking out the cheapest home insurance you can find might not be the best shopping strategy. The states with the least expensive average annual homeowners insurance premiums are Hawaii, Utah, Vermont, Delaware and Oregon.

If you recently filed a home insurance claim, your insurance company may raise your rates to protect themselves against future claims. Your credit score also affects your home insurance rate, so you may have a higher home insurance bill if your credit score has gone down. You could also see an increase if the cost of building materials goes up or your area experiences more frequent natural disasters. The construction type of your house will also affect the cost of your premiums. For example, stucco houses tend to have higher premiums because they are more likely to crumble during earthquakes, which can cost a lot to insurance companies. Thus, the more expensive and better your home is, the higher your premiums will be because of increased costs for both you and the insurance company.

Factors in Home Insurance Rates

Hawaii enjoys the country’s lowest homeowners insurance rates thanks to its location. Mild weather and a low incidence of natural disasters make it the most affordable place to be a homeowner. However, banks require a supplemental hurricane insurance policy to approve a mortgage in Hawaii.

This interactive guide can help you identify potential problems before they arise. Covers medical payments for minor injuries to people who don't live with you but get hurt on your property. Helpful bicycle insurance agents, who can assist you in servicing your policy, are just a phone call away. Helpful event insurance agents, who can assist you in servicing your policy, are just a phone call away. Of course, depending on the size/age/quality level of these items will determine how much coverage – if any – you’ll get for them if they get destroyed due to some sort of damage. So you’ll be paying more or less than these amounts depending on the factors listed above for each state.

Kara McGinley is a former senior editor and licensed home insurance expert at Policygenius, where she specialized in homeowners and renters insurance. As a journalist and as an insurance expert, her work and insights have been featured in Forbes Advisor, Kiplinger, Lifehacker, MSN, WRAL.com, and elsewhere. Arkansas sits at a vulnerable location for many natural disasters. The state of Arkansas is affected by tornados, flooding, wildfires, earthquakes, droughts, snow and hurricanes.

Click below to schedule a time to speak to an agent at no cost to you to ask questions, and receive free enrollment assistance. These items are roofing, structural integrity , burst plumbing pipes, sewage backup protection , and appliances like stoves and refrigerators that get damaged by electrical surges, etc. "What is a good car loan on my salary? I currently make $50,000 a year and I want to finance a car." There is no need to wait around if you need coverage click here or on one of the above buttons to get stated. If you need the most comprehensive amount of coverage fast then I would recommend either Hippo or Lemonade.

Its average rates are an astounding 203% lower than the national average. For more protection, you can choose replacement cost coverage instead. With this type of policy, your insurer will pay out what it would cost to repair or rebuild your home in today's dollars. Other coverage options are typically optional endorsements but not always.