Home Insurance Average home insurance cost Written by: Insure.com's Editor | Reviewed by: John McCormick | Updated on July 21, 2022 Why you can trust Insure.comQuality VerifiedAt Insure.com, we are committed to providing honest and reliable information so that you can make the best financial decisions for you and your family. All of our content is written and reviewed by industry professionals and insurance experts. We maintain strict editorial independence from insurance companies to maintain our editorial integrity, so our recommendations are unbiased and are based on a comprehensive list of criteria. 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 $2,285. That’s for a home insurance policy with $300,000 in dwelling coverage and $100,000 in liability insurance. If you bump up liability to $300,000, the national average cost is $2,305. States with frequent hurricanes, hail storms, tornadoes and earthquakes tend to have higher home insurance rates. But no matter where you live, you can get sufficient coverage for an affordable price if you know your home insurance basics. Insure.com’s team of editorial experts gathered information from Quadrant Information Services, one of the most trusted providers of insurance rate data, to put together this guide, which is designed to help you estimate the cost of homeowners insurance for your particular situation. You’ll also learn how to save on home insurance and get tips on how much coverage to buy. Key Takeaways Most people pay around $150 to $225 per month for homeowners insurance. Oklahoma is the most expensive state for homeowners insurance in the United States. Its average annual rate is 92% higher than the average home insurance cost. Hawaii is the least expensive state for homeowners insurance in the country. Its average rates are 79% lower than the average. Having a high deductible amount can reduce your insurance premium cost by 20% – 40% on average depending on your insurer and coverage level. How much is home insurance? The average cost of homeowners insurance is $190 per month. But rates vary significantly from state-to-state and from city-to-city. Home insurance costs per month range from the highest in Oklahoma at $370 to the lowest in Hawaii at $42. Most homeowners, however, are paying around $150 to $225 per month for coverage. State Rate per month Oklahoma$370Kansas$328Florida$304Arkansas$287Texas$286Mississippi$278Louisiana$273South Dakota$264Nebraska$261Missouri$259Colorado$257Minnesota$251Alabama$248Kentucky$239Montana$234Tennessee$224South Carolina$223North Dakota$217Georgia$213Iowa$212West Virginia$207Indiana$202New Mexico$192Illinois$183Michigan$179Rhode Island$177Ohio$176Wyoming$174North Carolina$167Arizona$165Connecticut$163Virginia$163Massachusetts $160Idaho$154New York$153Maine$153Alaska$150New Jersey$145Wisconsin$144Pennsylvania$143Oregon$134Delaware$127Maryland$127Washington$126DC$124Nevada$124New Hampshire$121Utah$115Vermont$101California$97Hawaii$42 But don’t forget about the deductibles. Insurers have been hard hit the last few years and some are now requiring percentage deductibles, especially if you live in a coastal region, says David Marlett, managing director of the Brantley Risk and Insurance Center and a distinguished professor of insurance at Appalachian State University “A wind/hurricane/named storm deductible of 2-5% is pretty common. It can certainly add up considering the value of coastal properties,” Dr. Marlett says. “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; ask each to provide a quote based on a $500, $1,000 and $2,500 deductible option; and then compare them against each other. He also says consumers should ask about any available discounts during the process. Average homeowners insurance premiums by ZIP code and city It’s no secret that homeowners insurance premiums vary greatly depending on your ZIP code. But how much can they differ? The least expensive zip code for homeowners insurance is 96859 – Honolulu, Hawaii, at $490 a year on average. Whereas 33050 – Islamorada Village of Islands, Florida, is the most expensive ZIP code for home insurance. Its average annual rate is $6,295 per year, that’s $5,805 more expensive than the least expensive ZIP code. 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 Highest homeowners insurance rates by ZIP code The highest homeowners insurance rates in the nation belong to ZIP code 33070, home to Islamorada Village of Islands, on Plantation Key, Florida. That’s according to Insure.com’s analysis of the average cost of home insurance for nearly every ZIP code in the country. ZIP codes in Louise, Texas and Mobile, Alabama, rank second and third, respectively. It’s likely no surprise that many of the most expensive ZIP codes for homeowners insurance costs are in states that experience lots of severe weather. The most expensive ZIPs in Louisiana, Mississippi, Alabama, Texas, South Carolina and Massachusetts all have coastal areas prone to catastrophic storms that are costly to insurers, who then pass that cost to homeowners. Texas, Kansas, Oklahoma, Florida, Alabama and Mississippi have lots of tornadoes as well. Naturally, the more claims paid out by insurers for damage due to wind, hail and flooding, the higher homeowners insurance costs will be for everyone. The top 10 most expensive locations for home insurance are: ZIP code (with city and state name) Average annual premium 33050 – Islamorada Village of Islands, Florida$6,29577455 – Louise, Texas$5,91136619 – Mobile, Alabama$5,75273016 – Cashion, Oklahoma$4,96667752 – Quinter, Kansas$4,66628594 – Emerald Isle, North Carolina$4,65470065 – Kenner, Louisiana$4,61229429 – Awendaw, South Carolina$4,61280734 – Holyoke, Colorado$4,36188255 – Loco Hills, New Mexico$4,071 Lowest homeowners insurance rates by ZIP code Hawaii ZIP 96859 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. So, why does Hawaii have such low home insurance rates? It may be that standard home policies in Hawaii do not absorb high claims costs for hurricane damage. After Hurricane Iniki in 1992, homeowners in Hawaii have to buy separate hurricane damage policies, said Michael Barry spokesman for the Insurance Information Institute. Hawaii is also one of the few states that does not 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.A low crime rate.Relatively few major liability lawsuits filed. Typically rural areas and cities with low population density will have lower home insurance rates. That’s because the cost to rebuild tends to be more affordable and insurers consider that when setting rates. The top 10 least expensive locations for home insurance are: ZIP code (with city and state name) Average annual premium 96859 – Honolulu, Hawaii$49093445 – Oceano, California$8815404 – Winooski/Burlington, Vermont$1,10720854 – Potomac, Maryland$1,14477514 – Anahuac, Texas$1,14819808 – Pike Creek, Delaware$1,19084075 – Syracuse, Utah$1,26570357 – Golden Meadow, Louisiana$1,30889428 – Silver City, Nevada$1,31314445 – East Rochester, New York$1,319 Average home insurance cost by state How do your home insurance costs compare to others in the country? Below you’ll see how your state average compares. If you live in Oklahoma, Kansas, Arkansas, Florida or Texas you’re paying the highest prices, on average, for home insurance. Those are the most expensive states for homeowners insurance. The state average annual cost in Hawaii, California, Vermont, Utah and New Hampshire makes them the least expensive. This homeowners insurance comparison by state shows average homeowners insurance for a 300k house, or that amount in dwelling coverage, and a $1,000 deductible. State $300,000 dwelling/$100,000 liability $ difference from $2,285 national average Alabama$2,960$675 moreAlaska$1,778$507 lessArizona$1,959$326 lessArkansas$3,422$1, 137 moreCalifornia$1,144$1,141 lessColorado$3,069$784 moreConnecticut$1,935$350 lessDC$1,462$823 lessDelaware$1,504$781 lessFlorida$3,418$1,133 moreGeorgia$2,540$255 moreHawaii$477$1,808 lessIdaho$1,820$465 lessIllinois$2,183$102 lessIndiana$2,409$124 moreIowa$2,526$241 moreKansas$3,920$1,635 moreKentucky$2,845$560 moreLouisiana$3,249$964 moreMaine$1,818$467 lessMaryland$1,503$782 lessMassachusetts$1,905$380 lessMichigan$2,130$155 lessMinnesota$2,987$702 moreMississippi$3,318$1,033 moreMissouri$3,093$808 moreMontana$2,786$501 moreNebraska$3,112$827 moreNevada$1,457$828 lessNew Hampshire$1,436$849 lessNew Jersey$1,717$568 lessNew Mexico$2,270$15 lessNew York$1,809$476 lessNorth Carolina$2,001$284 lessNorth Dakota$2,577$292 moreOhio$2,093$192 lessOklahoma$4,418$2,133 moreOregon$1,593$692 lessPennsylvania$1,708$577 lessRhode Island$2,092$193 lessSouth Carolina$2,657$372 moreSouth Dakota$3,149$864 moreTennessee$2,677$392 moreTexas$3,412$1,127 moreUtah$1,356$929 lessVermont$1,194$1,091 lessVirginia$1,933$352 lessWashington$1,494$791 lessWest Virginia$2,446$161 moreWisconsin$1,718$567 lessWyoming$2,067$218 less Average home insurance costs by company To get an idea of which insurance companies in your area offers the lowest rate, below are average annual premium by company for an insurance policy with the standard homeowners coverage limits of: Dwelling coverage of $300,000Deductible of $1,000Liability of $300,000 You’ll see that Travelers had the best home insurance premiums among major home insurance companies. Company name Avg. annual rate Acuity$1,545Alfa Mutual$3,723Allied$2,539Allstate$1,156Amco$1,980American Family$2,485American Family$2,875American Select$2,110Amica$1,638Arbella$1,411ASI Lloyds$1,577Auto Owners Insurance$1,552Automobile Insurance Company of Hartford$1,475Castle Key$3,133Charter Oak$1,991Chubb$1,357Cincinnati Insurance$1,540Citation$2,011Citizens$2,964Co Operative Insurance$1,405Commerce Insurance$2,214Concord$884Country Mutual$2,037Crestbrook$947CSAA Insurance Exchange$1,113Depositors$1,604Erie$1,590Farm Bureau Mutual of Arkansas$3,122Farm Bureau Mutual of Idaho$783Farm Bureau of Michigan$1,973Farmers New Century$1,511Fidelity$1,241First Fire & Casualty of Hawaii$514First Floridian$2,907First Liberty Insurance$2,668Foremost Ins Co Grand Rapids MI$2,799Garrison$2,507General Insurance Company$976Georgia Farm Bureau$2,615Great Northern Insurance$1,863Hanover$2,830Heritage$3,978High Point Preferred$1,432Homesite Insurance$1,609Homesite Insurance$2,271IMT Insurance$1,700Interinsurance Exchange of The Automobile Club$1,319Kentucky Farm Bureau$4,513Liberty$2,209LM Insurance$2,300Louisiana Farm Bureau$3,203Memberselect$2,521Merrimack$1,005Metropolitan$2,429Mid Century$1,713Mississippi Farm Bureau$2,560MMG Insurance$1,590Narragansett Bay$1,633Nationwide$1,768New Jersey Manufacturers$747New York Central Mutual$1,045Nodak Mutual$2,146North Carolina Farm Bureau$1,337Patrons Oxford$1,530Pemco$1,005Phoenix$1,716Property Owners$3,313Safeco$1,504Safety$1,709Shelter Mutual$3,402South Carolina Farm Bureau$2,811Standard Fire$1,408State Farm$1,157Tennessee Farmers Mutual$2,354Texas Farmers Insurance$2,690Travco Insurance$1,631Travelers$1,064Umialik$1,260United Property & Casualty$2,207Universal$4,168USAA$2,091Vermont Mutual$766West Bend Mutual$884 Average home insurance costs by coverage level Here you can see how the average cost of home insurance compares for various amounts of coverage, based on an analysis by Insure.com. All come with a $1,000 deductible. Average rate Dwelling/Liability Coverage $1,806$200,000/$100,000$1,824$200,000/$300,000$2,285$300,000/$100,000$2,305$300,000/$300,000$2,694$400,000/$100,000$2,709$400,000/$300,000$3,046$500,000/$100,000$3,056$500,000/$300,000$3,304$600,000/$100,000$3,323$600,000/$300,000 Once you have the amount of coverage you need to buy, you can see how average rates compare for eight different coverage levels in your state in the table listed below. or get more information by reading our average rates for recommended coverage levels guide. Compare home insurance rates To see how much you can expect to pay in your state, here are average home insurance rates by state for eight common coverage levels, all with a $1,000 deductible. You’ll see the average cost of homeowners insurance doesn’t increase a lot for higher liability coverage limits. State $200,000 dwelling/$100,000 liability $200,000 dwelling/$300,000 liability $300,000 dwelling/$100,000 liability $300,000 dwelling/$300,000 liability $400,000 dwelling/$100,000 liability $400,000 dwelling/$300,000 liability $500,000 dwelling/$100,000 liability $500,000 dwelling/$300,000 liability Alaska$1,299$1,320$1,778$1,799$2,075$2,095$2,462$2,482Alabama$2,580$2,599$2,960$2,981$3,438$3,457$3,807$3,813Arkansas$2,864$2,875$3,422$3,439$3,848$3,871$4,593$4,619Arizona$1,507$1,529$1,959$1,976$2,278$2,304$2,635$2,666California$800$820$1,144$1,166$1,485$1,508$1,862$1,888Colorado$2,499$2,514$3,069$3,082$3,480$3,502$3,675$3,674Connecticut$1,455$1,478$1,935$1,961$2,383$2,410$2,775$2,808DC$1,074$1,099$1,462$1,488$1,876$1,903$2,281$2,309Delaware$1,070$1,085$1,504$1,521$1,913$1,932$2,391$2,411Florida$2,872$2,876$3,418$3,439$3,941$3,962$4,261$4,287Georgia$1,986$2,002$2,540$2,555$3,017$3,035$3,539$3,561Hawaii$343$365$477$499$644$666$811$833Iowa$2,015$2,027$2,526$2,540$3,071$3,086$3,514$3,532Idaho$1,378$1,396$1,820$1,842$2,296$2,220$2,551$2,575Illinois$1,733$1,749$2,183$2,201$2,602$2,620$3,013$3,026Indiana$1,912$1,925$2,409$2,423$2,850$2,866$3,245$3,265Kansas$3,161$3,174$3,920$3,931$4,417$4,427$4,784$4,790Kentucky$2,313$2,331$2,845$2,862$3,090$3,110$3,193$3,213Louisiana$2,633$2,656$3,249$3,270$3,711$3,704$4,077$4,091Massachusetts$1,470$1,485$1,905$1,920$2,349$2,365$2,803$2,820Maryland$1,111$1,124$1,503$1,518$1,934$1,951$2,407$2,425Maine$1,377$1,386$1,818$1,833$2,254$2,271$2,559$2,579Michigan$1,703$1,725$2,130$2,153$2,543$2,563$2,940$2,960Minnesota$2,233$2,254$2,987$3,010$3,552$3,578$4,037$4,060Missouri$2,486$2,500$3,093$3,111$3,517$3,534$4,045$4,077Mississippi$2,606$2,625$3,318$3,340$4,085$4,100$4,449$4,426Montana$2,388$2,407$2,786$2,809$3,220$3,232$3,221$3,232North Carolina$1,365$1,373$2,001$2,009$2,359$2,367$2,647$2,655North Dakota$2,293$2,314$2,577$2,601$2,453$2,477$2,569$2,547Nebraska$2,620$2,636$3,112$3,133$3,605$3,628$3,799$3,801New Hampshire$1,041$1,058$1,436$1,455$1,703$1,726$2,050$2,076New Jersey$1,301$1,327$1,717$1,744$2,146$2,174$2,573$2,602New Mexico$1,824$1,851$2,270$2,299$2,695$2,730$3,086$3,123Nevada$1,056$1,083$1,457$1,486$1,853$1,884$2,246$2,280New York$1,346$1,374$1,809$1,840$2,222$2,256$2,605$2,638Ohio$1,599$1,612$2,093$2,107$2,564$2,496$2,830$2,843Oklahoma$3,552$3,572$4,418$4,445$4,931$4,938$5,019$5,056Oregon$1,233$1,247$1,593$1,608$1,986$2,004$2,301$2,319Pennsylvania$1,300$1,319$1,708$1,720$2,091$2,112$2,511$2,538Rhode Island$1,485$1,516$2,092$2,125$2,622$2,656$3,003$3,028South Carolina$2,039$2,057$2,657$2,678$3,059$3,072$3,478$3,497South Dakota$2,574$2,594$3,149$3,172$3,578$3,571$4,111$4,034Tennessee$2,285$2,298$2,677$2,692$3,054$3,063$3,390$3,397Texas$2,923$2,940$3,412$3,429$3,642$3,648$4,024$4,040Utah$1,044$1,064$1,356$1,378$1,670$1,694$2,012$2,038Virginia$1,474$1,495$1,933$1,956$2,312$2,323$2,588$2,618Vermont$899$916$1,194$1,212$1,523$1,542$1,848$1,868Washington$1,105$1,122$1,494$1,514$1,900$1,921$2,158$2,175Wisconsin$1,360$1,372$1,718$1,732$2,134$2,149$2,477$2,494West Virginia$1,952$1,986$2,446$2,486$2,979$3,018$3,416$3,462Wyoming$1,579$1,592$2,067$2,083$2,452$2,467$2,723$2,329 How to estimate home insurance When estimating your annual home insurance costs, you need to know the three major components of a policy and what they cover. They work together to protect your home, your belongings and your assets if someone were to win a lawsuit filed against you for injuries that you’re liable for that take place on your property. How much coverage you need for each will help you get an estimate of your costs. Dwelling: Covers your house, built-in appliances and other buildings such as sheds. Personal property: Covers your possessions, in other words, the contents of your house. Liability: Covers the medical expenses of people who are hurt while in your home or on your property, as well as damage you caused to others’ property. Also covers legal fees if you are sued by someone hurt in your home or on your property. Here we’ll break down how to estimate the amount of coverage you need for each of the above. Estimate how much dwelling coverage you need: You need to match the amount of dwelling coverage to the cost it would take to rebuild your home if it were destroyed. You should select a dwelling coverage amount that covers the cost to repair damage to your home or rebuild it completely at equal quality — at current prices. This is called replacement cost or the replacement value. For example, if a fire destroyed your home and possessions, your homeowners insurance policy would pay to rebuild your home at current market prices, even though rebuilding costs have probably risen over the years. To figure out the replacement cost of your home, you can hire a professional appraiser, or try to calculate it yourself. If you try to estimate it yourself, you need to find the average cost per square foot for building a home in your area, and then you’d multiply your home’s square footage by that amount. The national average is about $100 to $200, but it can vary. You then need to add the estimated amount you paid for your roofing materials, cabinets and built-in appliances, such as furnaces or hot water heaters. Estimate how much personal property coverage you need: This amount should match the total value of your possessions. Most personal property amounts are calculated by insurers to be 50% to 70% of your dwelling coverage, but that may be too little, or too much. That’s why you should do an inventory and assess what your belongings would cost to replace if damaged or stolen. Estimate how much liability coverage you need: Your savings and assets may be taken if you’re sued and don’t have the cash to pay for the awarded damages. That’s why experts recommend carrying $300,000 worth of liability insurance. The difference in $100,000 and $300,000 for a $300,000 home is just $20, based on Insure.com’s rate analysis. What factors affect homeowners insurance rates As you can see in the table above, location plays a major role in the cost of homeowners insurance policies. Insurers consider many factors when judging location: Weather (areas that experience more natural disasters will likely have higher premiums) Population densityProximity to a fire department and fire hydrantClaims history for the area But where you live is just one variable that affects what you pay. Home insurance rates are also based on characteristics of your house, the amount of coverage you get and on your profile. Chief among these are: The age of your homeThe building materials your home was constructed withThe claims history of your houseYour credit history (except in California, Massachusetts andMaryland)Your marital statusHow much coverage you buy and the deductible you chooseThe amount of home insurance discounts you qualify for More specifically, each state has its own unique situation that may cause insurance rates to increase or drop. Look at how recent events have affected the states with the largest increase and decrease in homeowners insurance premiums: Oklahoma home insurance rates: 93% higher than average Oklahoma is the most expensive state for homeowners insurance in the country. It ranked fourth in the country for tornadoes, with 99 occurring in 2019 and ninth of all states with catastrophic losses the same year. 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 (tornadoes, hail, ice).” Schallhorn hasn’t received higher rate increase filings this year, which typically signal an increase in the base cost of home insurance for a state. Therefore, home insurance premium increases in 2021 won’t come from a state-wide base rate change but will be a “result of several criteria including credit score, claims, deductibles and more.” Kansas home insurance rates: 72% higher than average Kansas is part of the “Tornado Alley” — an area where destructive tornadoes are more likely to occur. The Insurance Information Institute (III) ranks Kansas third in 2019 for tornadoes with 127. Besides tornadoes,hail damage is another factor of why home insurance rates are so much more expensive in Kansas than most other states. The III ranked Kansas as second in states with major hail events. The Kansas Insurance Department estimated losses of $126,813,439 in 2020 from windstorms, tornadoes and hail; a likely cause of high Kansas homeowners insurance rates. Arkansas home insurance rates: 50% higher than average Arkansas sits at a vulnerable location for many natural disasters. The state of Arkansas is affected by tornadoes, flooding, wildfires, earthquakes, droughts, snow and hurricanes. Fortunately, Arkansas may be affected by a variety of weather, but hasn’t suffered a major disaster in recent years. Florida home insurance rates: 50% higher than average Florida can be expected to make the list of the most expensive states for homeowners insurance. Flooding and hurricanes are frequent and catastrophic events. The annual premium of $3,418 per year includes hurricane or windstorm coverage, which comes with its own deductible. California home insurance rates: 50% lower than average You may be surprised that California is one of the least expensive states for home insurance. After all, earthquakes, devastating wildfires and flooding make the news regularly. The annual home insurance cost of $1,144 is a statewide average and doesn’t include coverage for flooding and earthquakes. They are both optional for many homeowners and must be purchased separately. Hawaii home insurance rates: 79% lower than average Hawaii enjoys the lowest homeowners insurance rates in the country thanks to its geographical location. Mild weather and a low incidence of natural disasters make it the most affordable place to be a homeowner. The last significant natural disaster was Hurricane Iniki in 1992. However, banks do require a supplemental hurricane insurance policy to approve a mortgage in Hawaii. Rates shown here do not include supplemental hurricane coverage costs. How much did homeowners insurance increase? Insure.com found that the national average cost of home insurance increased 33% from 2016 to 2020 for dwelling coverage of $300,000 and liability of $100,000 with a $1,000 deductible. The annual average rate was $1,720 in 2016, compared to $2,285 now. Average homeowners insurance cost by the price of home To get a home insurance estimate of some other dwelling coverages, let’s review some average rates. We established that the average home insurance for a $300,000 home, is $2,285 based on our rate analysis. Using that as a baseline, we can estimate the following: How much is homeowners insurance on a $150,000 house? The average rate for a house with $150,000 in dwelling coverage would be about $1,140, based on a rata analysis. That’s with $100,000 in liability, and not taking into account discounts, which would lower it a bit more. How much does homeowners insurance cost for a $250,000 house? The average homeowners insurance cost for $250,000 in dwelling coverage with $100,000 liability would be a bit less than $2,000. How much is homeowners insurance on a $400 000 house? The average annual rate for a home with $400,000 in dwelling coverage and $100,000 in liability and $1000 deductible is about $4000, according to a rate analysis by Insure.com. However, the rates may vary depending on where you live. Homeowners in Oklahoma pay the highest rate for a home insurance policy. Its average rate for a $400,000 house is $4,938 a year — that’s $2,229 more than the national average of $2,709. How to save on home insurance coverage Regardless of where you live or what type of home you have, there are ways to save on what you pay for home insurance. Here they are: Compare insurance quotes: Be sure to compare home insurance quotes from at least three companies for the same insurance coverage at least once a year. The best company for you today might not be down the road if your circumstances change, say you remodel your home, your credit score changes or you have to file a claim. Even if your homeowner profile remains unchanged, you can save on your insurance rate by comparing insurance quotes because the price for identical insurance policies will differ significantly among carriers. Get all the discounts that match your homeowner profile: There are lots of home insurance discounts that insurance companies offer that can lower your rate, including those for new homes, upgrades, security and monitoring features and paying online. One of the biggest price breaks you can get is from bundling your auto insurance with your home insurance. You can save, on average, 17% or about $730 annually, when you bundle home and auto insurance. That’s based on a 2021 Insurance.com rate analysis of over 50 car insurance and home insurance companies’ rates for those who bundle home and auto insurance. Raise your deductible: If you have to file a claim, and can afford to pay more out of pocket before your insurance kicks in, hiking your deductible can lower your rates. High deductible insurance can reduce your payments by between 20% and 40% depending on your insurance company and coverage. 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