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Purchasing home insurance is often mandatory for getting a mortgage. Even if it’s not a requirement for you, home insurance is still one of the most important ways to protect yourself financially. Home insurance covers damage to your house and certain liabilities you may incur due to property damage or bodily injury to others.

The value of your home insurance coverage is a combination of both: One part is called dwelling coverage, and the other is called liability coverage. You’ll also have to pay a deductible, which we’ll discuss later. This article will dig into what $400,000 of home insurance dwelling coverage looks like with different combinations of liability coverage.

How to use our $400,000 home insurance calculator

Using the home insurance calculator is simple. Enter the ZIP code in which the property is located, then enter the amount of dwelling and liability coverage you need. If you need $400,000 worth of coverage for homeowners insurance, the dwelling field should be set to $400,000. Liability coverage is up to you, but we’ll include some sample rates with different liability coverage options below.

When you file a claim for covered damage or loss, the deductible is the part you must pay out of pocket before the insurer pays for the rest. By default, the calculator uses a deductible of $1,000. 

Once you hit the calculate button, the calculator will display the highest, lowest and average homeowners insurance rates for the ZIP code and coverage amounts you entered.

400K Home Insurance Calculator

See how the average annual home insurance rates vary with the options chosen.

Average Annual Home Insurance Rates
33315 - Fort Lauderdale
$19,538 Average rate
$40,270 Highest
rate
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$4,826 Lowest
rate

Most expensive ZIP for home insurance in
Florida

ZIP Code City Average Rate
33070 Islamorada Village of Islands $35,383
33037 Key Largo $34,940
33036 Islamorada Village of Islands $34,733
33001 Long Key $34,697

Least expensive ZIP for home insurance in
Florida

ZIP Code City Average Rate
32307 Tallahassee $4,007
32313 Tallahassee $4,007
32306 Tallahassee $4,007
32308 Tallahassee $4,040

Methodology

Insure.com commissioned Quadrant Information Systems to field home insurance rates from major insurers in each state for nearly all ZIP codes in the country for 10 coverage levels based on various dwelling and deductible limits. The homeowner profile is a 35-year-old married applicant with excellent insurance score; new business HO3 policy for house built in 2000 with frame construction and composition roof. Other Structures: 10%. Loss of Use defaulted: 10%. Guest Medical limit: $5,000. Deductible limit: $1,000. Personal property: 50% of dwelling coverage for replacement value

Average home insurance cost for a $400,000 home

The table below shows the average annual premium for a home insurance policy with $400,000 of dwelling coverage. We used different limits for liability coverage and broke down the numbers by the deductible, using a 2% hurricane deductible and a standard $1,000 deductible.

DeductibleLiabilityAverage annual premium
2% hurricane deductible$100,000$3,115
2% hurricane deductible$300,000$3,134
Standard ($1,000)$100,000$3,212
Standard ($1,000)$300,000$3,233

$400,000 home insurance cost comparison for top 25 states in the U.S.

We’ve also calculated the average annual and monthly homeowners insurance premiums for the top 25 U.S. states, ranked by population. 

These figures are based on $400,000 worth of dwelling coverage and $300,000 worth of liability coverage.

StateAverage annual premiumAverage monthly premium
California$1,772$148
Texas$4,744$395
Florida$5,516$460
New York$2,349$196
Pennsylvania$2,316$193
Illinois$3,693$308
Ohio$2,621$218
Georgia$2,882$240
North Carolina$3,678$307
Michigan$3,063$255
New Jersey$1,894$158
Virginia$2,752$229
Washington$2,017$168
Arizona$3,063$255
Tennessee$3,768$314
Massachusetts$1,998$166
Indiana$3,720$310
Missouri$4,370$364
Maryland$2,131$178
Wisconsin$2,038$170
Colorado$4,976$415
Minnesota$2,999$250
South Carolina$3,335$278
Alabama$3,872$323
Louisiana$4,564$380

$400,000 home insurance cost comparison for top 25 cities in the U.S.

The following table shows the cost of a home insurance policy with $400,000 worth of dwelling coverage and $300,000 worth of liability coverage for each of the top 25 U.S. cities, ranked by population.

CityAverage annual premiumAverage monthly premium
New York, New York$3,429$286
Los Angeles, California$2,025$169
Chicago, Illinois$4,455$371
Houston, Texas$7,321$610
Phoenix, Arizona$3,572$298
Philadelphia, Pennsylvania$3,403$284
San Antonio, Texas$3,329$277
San Diego, California$1,647$137
Dallas, Texas$5,049$421
Jacksonville, Florida$4,689$391
Fort Worth, Texas$5,164$430
Austin, Texas$3,203$267
San Jose, California$1,376$115
Charlotte, North Carolina$2,832$236
Columbus, Ohio$2,591$216
Indianapolis, Indiana$4,045$337
San Francisco, California$1,462$122
Seattle, Washington$1,851$154
Denver, Colorado$5,403$450
Oklahoma City, Oklahoma$7,423$619
Nashville, Tennessee$3,495$291
Washington, District of Columbia$1,703$142
El Paso, Texas$2,541$212
Las Vegas, Nevada$1,932$161
Boston, Massachusetts$2,168$181

Key factors to calculate the cost of home insurance for $400K coverage

Your home insurance cost is affected by how much dwelling coverage and liability coverage you require.

Dwelling coverage covers everything from the cost of rebuilding or repairing your home to the cost of replacing property that was inside. How much dwelling coverage you need is a combination of these costs, so our $400,000 baseline may not be sufficient for your circumstances. Your dwelling coverage should include loss of use coverage to pay for living expenses while your house is uninhabitable.

Liability coverage is for property damage or bodily injury for which you’re liable. It’ll cover injuries sustained by someone on your property or if you damage someone else’s property, whether in your home or elsewhere.

What property features affect home insurance rates?

Any property features that make it riskier for an insurance company to insure your home could increase your rates. Location matters, especially if you live in an area prone to environmental perils like fire or flooding. Living in a high-risk area will likely result in higher rates. 

“If you have a $700,000 house, your insurance will be more expensive than if you have a $300,000 home,” says Melanie Musson, an insurance expert with InsuranceProviders.com. “If your house is destroyed, your insurance provider will be responsible for the cost of rebuilding. Since rebuilding a $300,000 house costs less than a $700,000 one, you pay lower rates for the cheaper house.”

The age of your home also matters, says Zhaneta Gechev, owner of One Stop Life Insurance in Las Vegas and an expert in property and casualty insurance. 

“Older homes typically have higher insurance premiums because their electrical, plumbing, and roofing systems are often older, increasing the likelihood of insurance claims,” she says.

The size of your home will make it more expensive to insure because there’s more area to protect, and upgrading your home could increase rates even more. 

“Renovations, such as new flooring or a modernized kitchen, can increase the home’s replacement cost and, consequently, the insurance premium,” Gechev says.

Any risks arising from the circumstances within your home could raise your rates. 

“For example, you’ll likely pay higher rates if you have a fireplace,” Musson says. “If you have a dog, you may pay higher rates because there’s a higher chance you’ll need to file a liability claim.”

However, there are things you can do to mitigate risk and lower your rates, such as adding a security system. 

“Many carriers offer discounts for homes monitored by a security company, as this reduces the risk of losses from break-ins,” Gechev says.

Year-over-year costs for a $400,000 home insurance policy

The table below uses $400,000 of dwelling coverage, $300,000 of liability coverage and a $1,000 deductible for its figures.

State 2023 annual premium 2022 annual premium 2019 annual premium
Alaska$2,064$2,276$1,850
Alabama$3,872$3,779$3,750
Arkansas$4,795$4,974$4,217
Arizona$3,063$2,413$2,224
California$1,772$1,741$1,508
Colorado$4,976$4,102$3,896
Connecticut$2,723$2,561$2,286
Washington, D.C.$1,703$1,520$1,610
Delaware$1,729$1,735$1,587
Florida$5,516$5,338$5,254
Georgia$2,882$2,707$2,647
Hawaii$791$749$666
Iowa$3,230$2,937$2,703
Idaho$2,449$2,356$1,888
Illinois$3,693$3,118$2,380
Indiana$3,720$3,392$2,650
Kansas$6,220$5,913$5,631
Kentucky$4,246$4,042$3,444
Louisiana$4,564$4,410$4,864
Massachusetts$1,998$1,849$2,442
Maryland$2,131$2,044$1,897
Maine$1,770$1,762$1,942
Michigan$3,063$2,943$2,419
Minnesota$2,999$2,900$3,173
Missouri$4,370$4,216$3,760
Mississippi$4,220$4,221$4,159
Montana$4,065$3,614$3,421
North Carolina$3,678$3,437$2,353
North Dakota$4,115$3,561$2,729
Nebraska$5,959$5,792$4,401
New Hampshire$1,488$1,429$1,439
New Jersey$1,894$1,634$1,877
New Mexico$3,489$3,346$2,841
Nevada$1,853$1,839$1,537
New York$2,349$2,225$2,165
Ohio$2,621$2,447$2,219
Oklahoma$7,294$6,199$5,596
Oregon$2,185$1,865$1,405
Pennsylvania$2,316$2,132$1,600
Rhode Island$2,460$2,188$2,439
South Carolina$3,335$3,396$3,302
South Dakota$4,275$4,487$3,886
Tennessee$3,768$3,611$3,890
Texas$4,744$4,190$4,447
Utah$2,161$1,701$1,382
Virginia$2,752$2,567$2,258
Vermont$1,555$1,446$1,177
Washington$2,017$2,054$1,641
Wisconsin$2,038$1,843$1,830
West Virginia$2,354$2,242$2,335
Wyoming$2,490$2,458$2,252

Top carriers for $400,000 home insurance in your state

The table below uses $400,000 of dwelling coverage, $300,000 of liability coverage and a $1,000 deductible for its figures.

State Company Average anuual premium
AlaskaAllstate$2,196
AlaskaCountry Financial$1,791
AlaskaState Farm$2,147
AlaskaUSAA$2,269
AlaskaWestern National Mutual$1,507
AlabamaAlfa Corporation$4,771
AlabamaAllstate$2,568
AlabamaAuto-Owners$3,483
AlabamaCountry Financial$3,927
AlabamaFarmers$4,135
AlabamaNationwide$4,396
AlabamaState Farm$3,739
AlabamaUSAA$3,633
ArkansasAllstate$3,966
ArkansasAuto-Owners$6,861
ArkansasFarm Bureau Mutual Ins Co of AR$4,106
ArkansasFarmers$5,470
ArkansasNationwide$4,715
ArkansasShelter Insurance$5,144
ArkansasState Farm$3,915
ArkansasTravelers$11,806
ArkansasUSAA$4,262
ArizonaAllstate$2,936
ArizonaAmerican Family$2,106
ArizonaFarmers$4,214
ArizonaNationwide$2,380
ArizonaState Farm$1,930
ArizonaTravelers$6,971
ArizonaUSAA$2,288
CaliforniaAllstate$1,121
CaliforniaAuto Club Enterprises (AAA)$1,775
CaliforniaCSAA Insurance (AAA)$1,706
CaliforniaFarmers$2,246
CaliforniaMercury Insurance$1,823
CaliforniaNationwide$1,723
CaliforniaState Farm$1,974
CaliforniaTravelers$1,404
CaliforniaUSAA$1,531
ColoradoAllstate$3,725
ColoradoAmerican Family$4,053
ColoradoFarmers$6,059
ColoradoNationwide$6,839
ColoradoState Farm$3,910
ColoradoUSAA$4,607
ConnecticutAmerican Family$3,073
ConnecticutAmica Mutual$2,112
ConnecticutChubb Ltd$3,015
ConnecticutFarmers$2,709
ConnecticutNational General Insurance$1,458
ConnecticutState Farm$2,059
ConnecticutTravelers$6,238
ConnecticutUSAA$2,188
Washington, D.C.Allstate$1,757
Washington, D.C.Chubb Ltd$1,898
Washington, D.C.Nationwide$1,559
Washington, D.C.State Farm$1,740
Washington, D.C.USAA$1,340
DelawareAllstate$1,520
DelawareAmerican Family$1,977
DelawareCumberland Insurance$1,221
DelawareState Farm$1,383
DelawareTravelers$2,544
FloridaAllstate$5,882
FloridaAmer Integrity Ins Co of FL$5,229
FloridaCitizens Property Insurance$11,258
FloridaFedNat Holding$8,861
FloridaHCI Group Inc$6,110
FloridaHeritage Insurance Holdings$5,787
FloridaNationwide$7,192
FloridaProgressive$5,555
FloridaSecurity First Insurance$4,587
FloridaState Farm$5,925
FloridaTravelers$2,469
FloridaUniversal Insurance Holding$8,778
GeorgiaAllstate$1,959
GeorgiaAuto-Owners$1,792
GeorgiaFarmers$3,550
GeorgiaGeorgia Farm Bureau$3,050
GeorgiaNationwide$3,405
GeorgiaState Farm$3,385
GeorgiaTravelers$3,574
GeorgiaUSAA$2,615
HawaiiAIG$808
HawaiiAllstate$707
HawaiiDongbu Insurance$589
HawaiiIsland Insurance$849
HawaiiOcean Harbor$1,195
HawaiiRLI Insurance$976
HawaiiState Farm$557
HawaiiTokio Marine Holdings$886
HawaiiUniversal Insurance Co$551
IowaAllstate$3,251
IowaAmerican Family$2,818
IowaAuto-Owners$2,224
IowaFarmers$3,932
IowaIMT Insurance$2,910
IowaIowa Farm bureau$4,029
IowaNationwide$3,183
IowaState Farm$2,910
IowaUSAA$3,372
IowaWest Bend Mutual$1,838
IdahoAllstate$2,238
IdahoAmerican Family$1,790
IdahoFarm Bureau$3,919
IdahoFarmers$2,411
IdahoNationwide$1,680
IdahoState Farm$2,660
IdahoUSAA$2,468
IllinoisAllstate$1,965
IllinoisAmerican Family$6,081
IllinoisAuto-Owners$2,654
IllinoisCountry Financial$4,214
IllinoisFarmers$4,211
IllinoisNationwide$2,491
IllinoisState Farm$2,348
IllinoisTravelers$9,185
IllinoisUSAA$2,681
IndianaAllstate$1,319
IndianaAmerican Family$2,713
IndianaAuto-Owners$3,884
IndianaErie Insurance$3,171
IndianaFarmers$4,859
IndianaIndiana Farm Bureau Grp$5,521
IndianaIndiana Farmers$2,136
IndianaNationwide$3,553
IndianaState Farm$2,518
IndianaTravelers$9,455
IndianaUSAA$2,897
KansasAllstate$4,767
KansasAmerican Family$4,415
KansasFarmers$6,655
KansasIowa Farm bureau$5,231
KansasNationwide$9,705
KansasShelter Insurance$4,503
KansasState Farm$4,342
KentuckyAuto-Owners$3,838
KentuckyAutomobile Club MI (AAA)$4,850
KentuckyCincinnati Insurance$2,825
KentuckyGrange Mutual$4,682
KentuckyKentucky Farm Bureau$8,288
KentuckyNationwide$4,359
KentuckyProgressive$2,764
KentuckyState Farm$3,319
KentuckyWestfield Insurance$3,290
LouisianaAllstate$4,243
LouisianaFarmers$6,238
LouisianaLA Farm bureau$6,433
LouisianaProgressive$1,907
LouisianaState Farm$6,209
LouisianaUSAA$3,836
MassachusettsAllstate$2,297
MassachusettsAmica Mutual$3,279
MassachusettsAndover Insurance$1,170
MassachusettsArbella Insurance$1,802
MassachusettsHeritage Insurance Holdings$1,356
MassachusettsMapfre Insurance$2,182
MassachusettsSafety Insurance$2,060
MassachusettsState Farm$1,558
MassachusettsTravelers$1,983
MassachusettsUSAA$2,216
MassachusettsVermont Mutual$1,672
MarylandAllstate$1,978
MarylandAmerican Family$2,335
MarylandChubb Ltd$3,044
MarylandErie Insurance$2,178
MarylandFarmers$2,222
MarylandNationwide$2,285
MarylandState Farm$1,361
MarylandTravelers$1,688
MarylandUSAA$2,110
MaineAllstate$1,252
MaineAuto-Owners$995
MaineChubb Ltd$1,444
MaineFarmers$2,432
MaineFrankenmuth Insurance$1,702
MaineMMG Insurance$1,875
MaineQuincy Mutual$1,719
MaineState Farm$1,214
MaineThe Hanover$3,589
MaineVermont Mutual$817
MichiganAuto-Owners$464
MichiganAutomobile Club MI (AAA)$1,817
MichiganFarmers$3,886
MichiganFrankenmuth Insurance$2,277
MichiganMichigan Farm Bureau$7,982
MichiganState Farm$2,410
MichiganThe Hanover$4,285
MichiganUSAA$2,545
MinnesotaAmerican Family$3,107
MinnesotaAuto-Owners$1,847
MinnesotaAutomobile Club MI (AAA)$2,588
MinnesotaCountry Financial$6,150
MinnesotaFarmers$3,306
MinnesotaNorth Star Mutual$2,586
MinnesotaState Farm$3,072
MinnesotaWest Bend Mutual$1,974
MinnesotaWestern National Mutual$2,052
MissouriAllstate$4,257
MissouriAmerican Family$3,961
MissouriAuto Club Enterprises (AAA)$2,517
MissouriFarmers$8,477
MissouriNationwide$5,881
MissouriShelter Insurance$4,129
MissouriState Farm$2,999
MissouriUSAA$3,132
MississippiAllstate$3,167
MississippiFarmers$6,498
MississippiNationwide$3,824
MississippiSouthern Farm Bureau$2,963
MississippiState Farm$3,756
MississippiTravelers$10,073
MississippiUSAA$2,889
MontanaAllstate$3,786
MontanaChubb Ltd$2,053
MontanaFarmers$5,210
MontanaNationwide$3,003
MontanaState Farm$3,133
MontanaTravelers$9,257
MontanaUSAA$3,411
North CarolinaErie Insurance$4,678
North CarolinaNationwide$3,930
North CarolinaNorth Carolina Farm Bureau$2,731
North CarolinaState Farm$1,515
North CarolinaUSAA$4,149
North DakotaAgraria Mutual$2,465
North DakotaAllstate$3,429
North DakotaAmerican Family$2,884
North DakotaAuto-Owners$3,760
North DakotaCountry Financial$3,849
North DakotaFarmers$5,780
North DakotaNodak Insurance$3,536
North DakotaNorth Star Mutual$2,530
North DakotaState Farm$3,809
NebraskaAllstate$4,812
NebraskaAmerican Family$4,892
NebraskaFarmers$6,112
NebraskaFarmers Mutual Ins Co of NE$6,266
NebraskaIowa Farm bureau$5,638
NebraskaNationwide$7,897
NebraskaState Farm$5,531
NebraskaTravelers$11,699
NebraskaUSAA$6,016
New HampshireAllstate$1,075
New HampshireAmica Mutual$1,006
New HampshireAuto-Owners$1,275
New HampshireFarmers$1,309
New HampshireMMG Insurance$2,468
New HampshireNationwide$1,992
New HampshirePlymouth Rock Assurance$1,446
New HampshireState Farm$1,312
New HampshireUSAA$1,641
New HampshireVermont Mutual$899
New JerseyChubb Ltd$1,530
New JerseyFarmers$2,932
New JerseyFranklin Mutual$1,645
New JerseyHeritage Insurance Holdings$2,115
New JerseyNational General Insurance$1,411
New JerseyNew Jersey Manufacturers$1,155
New JerseyPlymouth Rock Assurance$2,759
New JerseyState Farm$1,476
New JerseyUSAA$1,524
New MexicoFarmers$4,179
New MexicoState Farm$2,109
NevadaAmerican Family$1,779
NevadaCountry Financial$2,661
NevadaCSAA Insurance (AAA)$2,130
NevadaFarmers$2,179
NevadaNationwide$1,497
NevadaState Farm$1,647
NevadaUSAA$1,461
New YorkAIG$2,072
New YorkAllstate$2,322
New YorkAmerican Family$1,151
New YorkChubb Ltd$2,563
New YorkFarmers$4,456
New YorkHeritage Insurance Holdings$2,008
New YorkNationwide$1,958
New YorkNYCM Insurance$1,348
New YorkState Farm$1,704
New YorkTravelers$2,077
OhioAllstate$2,027
OhioAmerican Family$2,254
OhioAuto-Owners$1,947
OhioErie Insurance$2,397
OhioFarmers$3,409
OhioGrange Mutual$2,801
OhioNationwide$2,327
OhioState Farm$2,014
OhioTravelers$7,791
OhioUSAA$1,810
OklahomaAllstate$5,133
OklahomaFarmers$9,635
OklahomaOklahoma Farm Bureau$5,682
OklahomaShelter Insurance$7,288
OklahomaState Farm$6,062
OklahomaUSAA$7,533
OregonAllstate$2,059
OregonAmerican Family$1,608
OregonCountry Financial$3,435
OregonFarmers$2,756
OregonNationwide$1,566
OregonState Farm$1,581
OregonUSAA$1,927
PennsylvaniaAllstate$1,286
PennsylvaniaErie Insurance$1,786
PennsylvaniaFarmers$2,511
PennsylvaniaNationwide$2,051
PennsylvaniaState Farm$1,648
PennsylvaniaTravelers$6,317
PennsylvaniaUSAA$1,771
Rhode IslandAIG$1,968
Rhode IslandAllstate$2,451
Rhode IslandAmica Mutual$2,758
Rhode IslandAndover Insurance$2,754
Rhode IslandFarmers$3,009
Rhode IslandNationwide$2,593
Rhode IslandPure Companies Grp$2,363
Rhode IslandState Farm$1,782
South CarolinaAllstate$2,475
South CarolinaAuto-Owners$2,839
South CarolinaFarmers$5,110
South CarolinaProgressive$3,103
South CarolinaSouth Carolina Farm Bureau Mutual$3,774
South CarolinaState Farm$2,409
South CarolinaTravelers$7,177
South CarolinaUSAA$2,412
South DakotaAllstate$3,475
South DakotaAmerican Family$4,292
South DakotaAuto-Owners$2,753
South DakotaFarmers$6,140
South DakotaFarmers Mutual Ins Co of NE$3,983
South DakotaIowa Farm bureau$3,731
South DakotaNationwide$3,898
South DakotaNorth Star Mutual$3,278
South DakotaState Farm$3,691
South DakotaUSAA$4,191
TennesseeAllstate$2,868
TennesseeAuto-Owners$2,928
TennesseeErie Insurance$4,723
TennesseeFarmers$4,839
TennesseeProgressive$2,676
TennesseeState Farm$3,035
TennesseeTennessee Farmers$2,853
TennesseeTravelers$7,674
TennesseeUSAA$2,688
TexasFarmers$4,871
TexasNationwide$6,730
TexasProgressive$4,959
TexasState Farm$4,482
TexasUSAA$3,998
UtahAmerican Family$1,490
UtahAuto-Owners$2,282
UtahFarmers$1,957
UtahNationwide$1,570
UtahState Farm$1,264
UtahUSAA$2,824
VirginiaAllstate$2,181
VirginiaAmerican Family$1,213
VirginiaErie Insurance$2,220
VirginiaFarmers$4,434
VirginiaNationwide$2,031
VirginiaProgressive$1,687
VirginiaState Farm$1,749
VirginiaTravelers$6,284
VirginiaVirginia Farm Bureau$1,315
VermontAllstate$974
VermontAuto-Owners$945
VermontCo-operative Insurance$1,610
VermontFarmers$2,492
VermontState Farm$1,482
VermontTravelers$3,590
VermontUnion Mutual$1,524
VermontUSAA$1,257
VermontVermont Mutual$839
WashingtonAllstate$1,321
WashingtonFarmers$2,149
WashingtonNationwide$1,235
WashingtonPEMCO$1,309
WashingtonState Farm$1,918
WashingtonUSAA$2,816
WisconsinAcuity A Mutual Ins Co$2,363
WisconsinAllstate$1,509
WisconsinAmerican Family$2,902
WisconsinAuto-Owners$2,322
WisconsinFarmers$2,379
WisconsinNationwide$2,015
WisconsinSecura Insurance$1,795
WisconsinState Farm$1,764
WisconsinUSAA$1,942
WisconsinWest Bend Mutual$1,330
West VirginiaAllstate$2,095
West VirginiaAutomobile Club MI (AAA)$2,535
West VirginiaErie Insurance$2,760
West VirginiaNationwide$2,230
West VirginiaProgressive$3,366
West VirginiaState Farm$2,009
West VirginiaUSAA$1,459
West VirginiaWestfield Insurance$2,379
WyomingAllstate$3,662
WyomingFarmers$3,097
WyomingNationwide$1,562
WyomingState Farm$2,417
WyomingUSAA$1,709

Frequently asked questions

How to lower your insurance costs for $400,000 of dwelling coverage

You can lower your home insurance costs for $400,000 worth of dwelling coverage in a number of ways. You can decrease how much liability coverage you need and increase the deductible, although both options could result in your paying more out of pocket for a claim.

You could also ask your insurance company how to mitigate any risks to your home. For example, trimming large, overhanging tree branches – which could fall on your house and damage it during a storm – demonstrates that your home is less risky to insure. As mentioned above, installing a home security system could also lower your risk of a loss and result in lower rates.

How to estimate the cost of $400,000 home insurance

To estimate whether $400,000 is enough dwelling coverage for you, you need to calculate three things: how much it’ll cost to rebuild your home if it’s destroyed or damaged; the combined value of all your insurable property inside the home, and how much it would cost to replace it today; and how much you would expect to pay if you can no longer live in the home while it’s being repaired or rebuilt — referred to as “loss of use”.

author image
Zack Sigel

 
  

Zack Sigel is a writer and editor based in New York City. He has been managing editor at Policygenius and M1 Finance, where he led teams specialized in writing about business and finance, and he has also written about music and culture for Hyperallergic, VH1, Complex, and the Los Angeles Review of Books. Zack has a bachelor's degree from New York University, Tisch School of the Arts.

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