Average Home Insurance Rates Increased 33% Since 2016: Insure.com Research

- Posted on September 15, 2020 PrintDownload

Foster City, CA – September 15, 2020 – Insure.com, a comprehensive resource for insurance information, provides updated information on  average costs for home insurance by state and coverage level to help homeowners assess how much coverage they can afford.

The latest research is published here: Average home insurance premiums by state

This rate analysis makes it easy for homeowners to compare their current rates to the average in their state and assess whether or not there is an opportunity to save money on their home insurance policy. The new report is timely as the cost of home insurance increased 33% since 2016, on average, according to Insure.com’s data. Findings also show homeowners how much more – or little – it costs to increase their coverage for better protection. For example, boosting liability limits from $100,000 to $300,000 costs just $20 more annually, on average.

States with highest annual home insurance prices, (for $300,000 dwelling and $100,000 liability) on average:

  • Oklahoma--$4,418
  • Kansas--$3,920
  • Arkansas--$3,422
  • Florida--$3,418
  • Texas--$3,412

States with lowest annual home insurance prices, (for the same coverages as above) on average:

  • Hawaii--$477
  • California--$1,144
  • Vermont--$1,194
  • Utah--$1,356
  • New Hampshire--$1,436

Insure.com provides an interactive map with an at-a-glance view of state rate information for eight different coverage levels, simplifying the process of researching costs.

“Where you live certainly impacts the cost of home insurance,” explains Michelle Megna, editorial director for Insure.com. “But, many other variables factor into the price you’ll pay, such as your home’s building materials, age, claims history and more. We’re aiming to provide consumers with as much relevant data as possible to help them determine the reasonableness of their premiums.

Megna is available to discuss how homeowners can save on home insurance costs, analysis of the best home insurance companies for 2020, mortgage disability insurance and other issues related to home insurance.

 

About Insure.com

Insure.com is owned and operated by QuinStreet, Inc. (Nasdaq: QNST), a pioneer in delivering online marketplace solutions to match searchers with brands in digital media.  QuinStreet is committed to providing consumers with the information and tools they need to research, find and select the products and brands that meet their needs. Insure.com is a member of the company’s expert research and publishing division.

For 35 years, Insure.com has served as a comprehensive consumer resource for insurance information, offering expert advice, articles, news, and tools about car, home, health, and life insurance. Consumers have access to free car insurance quotes and guidance on finding the right insurance policy, saving money and solving claims problems.

Twitter: @InsureCom

Facebook: https://www.facebook.com/Insure

 

Media Contact

Jacqueline Leppla
Senior Director of Public Relations
QuinStreet, Inc


Direct +1 775 321 3608
Cell +1 775 842 9048
Email: jleppla@quinstreet.com

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