Average homeowners insurance cost by ZIP code in 2024

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Insure.com’s analysis of rates from top insurers for every state and nearly every city — down to the ZIP code — found the average cost of homeowners insurance to be $2,601. That’s the average for a home insurance policy with $300,000 in dwelling coverage and personal liability and a $1,000 deductible. 

States with frequent hurricanes, hailstorms, tornadoes, and earthquakes tend to have higher home insurance rates. 

“Different geographic regions are susceptible to different causes of loss.  For instance, we don’t tend to have hurricanes in the mid-Western United States, but we do have lots of tornadoes there. Living on the water increases flood risk,” says Brenda Wells, chair of the Department of Finance and Insurance at East Carolina University.

To get the best rates for your situation, shop around with at least three to five insurance companies. By comparing rates from multiple insurers, you can get the best possible coverage at the lowest price.

Average homeowners insurance premiums by ZIP code and city

Homeowners insurance premiums vary greatly depending on your ZIP code. Your location determines the risks that are most likely to result in a claim, and the more severe and common those risks are, the more you are likely to pay. The same applies to the cost of building materials in your area.

“Cost of living varies from town to town and city to city, which affects reconstruction and repair costs,” Wells says.

The least expensive ZIP code for homeowners insurance is 96813 in Honolulu, Hawaii, at $610 a year on average. 28480 in Wrightsville Beach, North Carolina is the most expensive ZIP code for home insurance with a sky-high average annual rate of $29,684. That’s an incredible difference of about $29,000 a year.

Rankings for the priciest ZIP codes were determined by identifying the ZIP code with the highest average rate for home insurance in each state and then listing them in descending order. 

For the cheapest, rankings were determined by identifying the neighborhoods with the least expensive average rates for home insurance and then listing them in ascending order for the following coverage level: 

• $300,000 in dwelling coverage 
• $1,000 deductible 
• $300,000 liability coverage
• 2% hurricane deductible where applicable

Highest homeowners insurance rates by ZIP code

An Insure.com analysis of the average cost of home insurance for nearly every ZIP code in the country found that the highest homeowners insurance rates belong to ZIP code 28480 in Wrightsville Beach, North Carolina. Its location on the coast leaves it vulnerable to hurricanes. ZIP codes in Islamorada, Florida, and El Lago, Texas ranked second and third.

It’s no surprise that many of the most expensive ZIP codes for homeowners insurance are in states that experience a lot of severe weather. The most expensive ZIP codes in Texas, Louisiana, Alabama, the Carolinas, and, of course, Florida all have coastal areas prone to catastrophic storms that are costly to insurers, who then pass that cost on to homeowners. Texas, Kansas, Oklahoma, Florida, Alabama, and Mississippi also have a lot of tornadoes.

The more claims insurers pay out for damage caused by wind, hail, and rain, the higher homeowners insurance costs will be for everyone. Take a look at the most expensive ZIP code in each state below.

Compare the most expensive ZIP codes for home insurance

Lowest homeowners insurance rates by ZIP code

ZIP code 96813 in Honolulu, Hawaii, has the lowest average homeowners insurance cost in the nation, but dozens of other Hawaii ZIP codes are also among the cheapest in the country. Why does Hawaii have such low home insurance rates? One factor is that standard home policies in Hawaii do not cover hurricane damage. Ever since Hurricane Iniki in 1992, homeowners in Hawaii must buy separate hurricane damage policies, per Michael Barry, chief communications officer of the Insurance Information Institute (III).

Hawaii is also one of the few states that don’t allow insurance companies to use credit ratings when pricing policies. Other locations on the cheapest list are low compared to the rest of the country, in part, because of the following factors:

• Few major weather-related losses
• Low crime rates
• Relatively few major liability lawsuits filed

Rural areas and cities with low population density typically have lower home insurance rates because rebuilding costs are more affordable.

Compare the least expensive ZIP codes for home insurance

Average home insurance cost by state

Below, you can compare your state’s average home insurance costs to others nationwide. This homeowners insurance comparison by state shows average homeowners insurance for a $300,000 house (by dwelling coverage, not market value) with a $1,000 deductible.

How much is home insurance per month?

The average cost of homeowners insurance is $217 per month. However, rates vary significantly from state to state and city to city.

Home insurance monthly costs range from the highest in Oklahoma at $488 to the lowest in Hawaii at $51. 

Pay close attention to the fine print regarding deductibles. Insurers have been hard hit the last few years, and some are now requiring percentage deductibles for certain risks, especially if you live in a coastal region, according to David Marlett, managing director of the Brantley Risk and Insurance Center and a distinguished professor of insurance at Appalachian State University.

These are usually separate deductibles and you would still have a regular flat-rate deductible on top of it.

“A wind/hurricane/named storm deductible of 2 to 5% is pretty common. It can certainly add up considering the value of coastal properties,” explains Dr. Marlett. “If you insure a home for $500,000 replacement cost and have a 5% ‘named storm’ deductible, the consumer pays the first $25,000 for losses from a tropical storm or hurricane.”

Dr. Marlett suggests homeowners get quotes from multiple companies and ask each insurer to provide a quote based on a $500, $1,000 or $2,500 deductible option. Compare these quotes against each other — and remember to ask about any available discounts.

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Average home insurance costs by company

To give you an idea of which insurance companies in your area offer the lowest rate, below are the average annual premiums from top home insurers for an insurance policy with  coverage limits of:

• Dwelling coverage: $300,000
• Deductible: $1,000
• Liability: $300,000

*USAA is only available to military families

Average home insurance costs by coverage level

We compiled the nationwide average home insurance costs based on different coverage amounts, all with a $1,000 deductible. You can compare average rates for 10 coverage levels in the table below.

Once you know how much coverage you need, see your state’s average rates for eight different coverage levels in the table below. You can also get more information by reading our average rates for recommended coverage levels guide.

How much is homeowners insurance on a $200,000 house?

The average cost of home insurance is $2,005 a year for $200,000 in dwelling coverage, $300,000 in liability, and a $1,000 deductible. Remember that this is not related to the home’s market value.

How much does homeowners insurance cost for a $300,000 house with $100,000 liability?

The average cost of homeowners insurance at $300,000 in dwelling coverage is $1,988, with $100,000 in liability and a $1,000 deductible, The $300,000 in dwelling coverage reflects replacement cost, not market value.

How much is homeowners insurance on a $400,000 house?

The average annual rate for a home with $400,000 in dwelling coverage, $300,000 in liability and a $1,000 deductible is $3,231 a year or $269 per month, according to a rate analysis by Insure.com. Again, this is not based on market value.

In the table below, see how much it costs to insure a $400,000 replacement cost home in each state with $300,000 in liability and a $1,000 deductible.

Factors that affect the cost of homeowners insurance 

Location plays a major role in the cost of homeowners insurance policies. Here’s what insurers consider related to location: 

• Weather — areas that experience more natural disasters will likely have higher premiums
• Population density
• Proximity to a fire department and fire hydrant
• Claims history for the area

“Distance from a fire hydrant and a fire department matter, as response times in critical situations are delayed with greater distance,” Wells says.

Home insurance rates are also based on other factors, including:

• The age of your home
• The building materials your home was constructed with
• The claims history of your house
• Your credit history (except in California, Massachusetts and Maryland)
• Your marital status
• How much coverage you buy and the deductible you choose
• Home insurance discounts you qualify for

“An old wood home is more flammable, and will thus cost more to insure than a brick home, which is more fire resistant. Newer homes tend to be more wind and fire resistant, though that can vary with the geographic region and building codes,” Wells says.

More specifically, each state has its own unique situation that may cause insurance rates to increase or drop. The frequency of severe weather and how home insurance covers damage from that weather can have a big impact on rates, as shown in the examples below.

Oklahoma home insurance rates: 125% higher than average

Oklahoma is the most expensive state for homeowners insurance in the country. It had 314 major hail events and 48 tornadoes in 2023, according to the National Oceanic and Atmospheric Administration’s Storm Prediction Center. Andrew Schallhorn, Deputy Commissioner of Financial Regulation and Chief Actuary for the Oklahoma Insurance Department, explains, “Homeowners rates in Oklahoma are high for many reasons including weather (tornados, hail, ice).”

Kansas home insurance rates: 86% higher than average

Kansas is part of the “Tornado Alley” — an area where destructive tornadoes are more likely to occur. Kansas had 39 tornados in 2023 and a total of 761 severe wind events. 

Besides tornadoes, hail damage is another reason home insurance rates are much more expensive in Kansas than in most other states. Kansas had 459 severe hail events in 2023.

Nebraska home insurance rates: 85% higher than average

Nebraska sees a range of severe weather, topping both aforementioned states for tornadoes in 2023 with a total of 81 tornadoes. The state also counted 486 severe hail events, including one in April of 2023, when hailstones of up to three inches in diameter were reported. And Nebraska also sees major winter storms that can bring serious damage.

New Hampshire home insurance rates: 53% lower than average

With only a small amount of coastline, New Hampshire’s mostly inland location insulates it from the hurricane damage many neighboring states see. In general, there is a low incidence of severe weather events, helping to keep home insurance rates low.

Hawaii home insurance rates: 76% lower than average

Hawaii’s low home insurance rates are partly because home insurance policies exclude hurricane damage. However, banks require a supplemental hurricane insurance policy to approve a mortgage in Hawaii; this total cost should be considered when pricing home insurance here.

How to save on homeowners insurance

No matter where your home is, there are some ways you can save some money on your policy. 

Compare insurance quotes. Always compare home insurance quotes from at least three companies at least once a year. The best company for you today might not be the best later if your circumstances change, like if you file a claim or remodel your home. Even if nothing changes, comparing competitors regularly is always worth it.

Ask about discounts. Insurance companies offer discounts for different situations, like first-time homeowners or upgrading your security system. You can also look into bundling your home and auto insurance. 

Raise your deductible. Depending on your insurance company and coverage, raising your home insurance deductible can reduce your payments by 20% and 40%. Make sure you can afford the deductible if you need to pay it.

Methodology

Insure.com compared homeowners insurance rates in 2024 provided by Quadrant Data Solutions for dwelling coverage ranging from $200,000 to $1,000,000 with liability limits of $100,000 and $300,000 and a deductible of $1,000 for all available ZIP codes. For state averages, a filter was used to remove rates over $10,000 a year; the purpose of this was to ensure that a few ZIP codes with excessively high rates did not skew the average.

ZIP codes were ranked based on the average rates for dwelling coverage of $300,000, liability coverage of $300,000, and a $1,000 deductible. A 2% hurricane deductible was included where applicable. For ZIP code-level data.

What our expert says

Brenda WellsChair of the Department of Finance and Insurance, East Carolina University

“Different geographic regions are susceptible to different causes of loss. For instance, we don’t tend to have hurricanes in the mid-Western United States, but we do have lots of tornadoes there.”

Barry Eitel

Contributing Researcher

 

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Barry Eitel is a content writer and journalist focused on insurance, small business and finance. He has researched and written about personal finance since 2012, with a special focus on entrepreneurship, freelancing and other small business operations. His writing on insurance and small business has been featured in 7x7, Brit + Co, Intuit Quickbooks, Bankrate, Policygenius and Lendio.

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