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Average Homeowners Insurance Premium California

  • gretchensellar0
  • Nov 18, 2023

Average Homeowners Insurance Premium California – Fran Majidi manages the content of the website at . He has nearly a decade of experience writing about me…

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Average Homeowners Insurance Premium California

Average Homeowners Insurance Premium California

It provides unbiased and fact-based information. Our proven articles are intended to educate insurance buyers so they can make the right purchasing decisions. Learn more

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With 97.2% of 2019 home insurance claims related to property damage and theft according to the Insurance Information Institute, homeowner’s insurance coverage is increasingly essential to protecting your property. But how much will it cost you?

Americans pay an average of $1,213.89 for homeowners insurance, but the average by state varies widely. Read on to find out how much home insurance costs in your state and tips for getting the best rate.

Americans pay $1,213.89, on average, for homeowners insurance per year. That’s an average monthly premium of $115.60. After collecting more than 100,000 quotes, we looked at the wide price range based on the state: Homeowner’s insurance can cost anywhere from $436.24 to $2,891.62.

Oklahoma, Nebraska, Kansas, Mississippi and New Mexico are the most expensive states for homeowners insurance. Homeowners in these states can expect to pay 84% more than twice the national average. New Mexico and Oklahoma, in particular, have relatively high rates of violent crime that could increase the likelihood of theft.

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Hawaii, Oregon, Utah, New Jersey and Maine offer the cheapest homeowner insurance rates on average, paying 46% to 64% below the national average. Three of the five states were Western states (HI, OR, UT) and the other two were in the Northeast region (ME, NJ).

Insurance companies consider other factors when calculating homeowner’s insurance rates, including property characteristics, neighborhood and home remodeling costs. The insurance industry also takes into account your zip code, state laws, credit score, deductibles and coverage limits.

Is home owner insurance in your state higher than you expected? Here are some tips to lower your rates:

Average Homeowners Insurance Premium California

When you buy two or more insurance policies from the same company, you can get a discount of 5% to 25%. According to Forbes magazine, the average savings for combined home and auto insurance is 14 percent. Some insurance companies such as Allstate, Farmers and Nationwide offer discounts in excess of 15%.

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Your insurance company can reward you with 5% to 15% on your homeowner’s insurance when you install recommended home security devices, including:

Before purchasing a system, contact your insurance company to see which security systems may qualify for a discount. Your insurance agent can recommend brands and tell you how much of a discount you will receive.

Review your policy annually to see if you have any coverage you no longer need for valuables in your home. For example, if you have $8,000 worth of computers, it may be time to lower your policy limits or take out an additional endorsement.

Before taking out insurance coverage, make sure you have enough insurance to protect your home, other structures and personal belongings.

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Deductibles are the shared expenses you must pay for a covered loss before your insurance is triggered to pay a claim under the terms of your policy. You can save money on premiums by setting a higher deductible, but make sure you can pay if something goes wrong.

Your insurance company may require a separate deductible if you live in an area prone to windstorms, wildfires, hail, earthquakes, hurricanes and other disasters.

Insurance companies are using credit information as a factor in setting rates for customers. You can lower the cost of home insurance premiums with a good credit score.

Average Homeowners Insurance Premium California

To clean up your credit, lower your debt-to-income ratio. Pay your bills on time and don’t take out more credit than you can afford. Also, keep your credit balance low. Check your credit history regularly to correct any mistakes and make sure your credit history is as accurate as possible.

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Choosing the right home in your area can reduce your home insurance premium by 5% to 15%. The III says that East Coast homeowners should choose brick homes because they are more resistant to coastal wind damage. In earthquake-prone areas like California, wooden houses are recommended because they have a higher chance of surviving such disasters.

In addition, insurance companies may give you a break in price based on your distance from first responders or if you live near a fire hydrant. You may also receive a premium reduction if your area has a professional fire department instead of a volunteer service.

You’ll also get homeowner discounts if you own a home with electrical, heating or plumbing systems that are less than 10 years old.

Contact your insurance company to find out what steps you can take to fortify your home against wind storms and other natural disasters. You can save on premiums by adding blinds or better roofing materials. You can also upgrade old homes with security features.

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Your insurance company may offer discounts on home insurance, including discounts for retirees because they have more time to keep their home.

Talk to your insurance agent to find out if your insurance covers the value of your land. If so, you should consider reducing your insurance coverage. You only need coverage to rebuild your home and cover belongings and other structures. If you land, you will pay a higher premium than necessary.

The average annual cost of homeowners insurance is $1,387 per year. Your actual price may change based on your state, county, home features, claim history and personal information.

Average Homeowners Insurance Premium California

Homeowners insurance will protect the structure of your home and your personal effects against various perils, such as fire, storm and theft. You will also receive personal liability coverage in the event that someone suffers an accident or loss while on your property. Most policies do not protect against earthquakes, floods, mold and more and will require you to purchase a separate policy.

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The cost of home insurance coverage usually considers the cost of rebuilding your home, not its fair market value. Other factors that affect home insurance rates include home location, age, and previous claims history.

The average homeowner’s insurance rate in the United States can exceed $1,000 per year, but you can lower your premium by changing your homeowner’s insurance policy, buying a less risky home and looking for discounts.

Buying new coverage can also save you money on your homeowner’s insurance coverage. Compare rates from the top home insurance companies used to find the most affordable home insurance policy in your area. To receive a free quote, answer a few questions after entering your zip code below.

We collect over 100,000 home insurance quotes from multiple counties and insurance companies in each state to produce an average price for each state. We then averaged the state averages to get a national average price for home insurance in the United States. Home insurance quotes were based on homes with a home value of $250,000.

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Dan Marticio is the Content Manager and has written over 150 articles in various fields of insurance. His past writing experience in small business and personal finance has made him a reference to important fintech brands such as LendingTree, ValuePenguin, Fundera, The Balance and NerdWallet. The guidelines are always aimed at helping consumers and entrepreneurs make informed decisions about their finances and business. If you’re looking for ways to save money now, you can start by looking at how much you spend each year on homeowner’s insurance. According to our latest map, how much it costs for homeowners insurance depends entirely on where you live.

We got the data for our map from, a price comparison website. There are some assumptions behind our map data. Imagine a married couple with excellent credit wanted to insure a $300,000 home with typical policy features such as a $1,000 deductible and $5,000 guest medical coverage per person. We calculated the average cost of insurance in each state, and drew a color map based on how much each state’s rates cost more than the national average. This allows you to easily see relative and absolute totals for the average cost of homeowners insurance across the country.

There are two interesting insights into the homeowner’s insurance market in our map. First, the most expensive states tend to be located south of the Gulf of Mexico and extend into Tornado Alley. Oklahoma is by far the most expensive state in the country at $4,445 per year, or 92.8% above the average. If you were to draw a straight line from Montana to Florida, every state would have a higher than average rate. This is because geography is the main determinant of natural disasters such as hurricanes, tornadoes and avalanches, which tend to destroy property and increase insurance rates.

Average Homeowners Insurance Premium California

Another interesting insight is how relatively cheap homeowners insurance is on both coasts. Vermont is the most affordable in the Northeast at just $1,212 or just over $100 a month. And check out California, where it only costs $1,166 on average. Note that we’ve assumed a home value starting at $300,000 to arrive at these numbers, so it’s an apples-to-apples comparison. We know that $300,000 goes beyond that in some states

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