Florida Homeowners Insurance Average Cost

Posted on

Florida Homeowners Insurance Average Cost – Keeping your home safe and secure comes at a cost. But in some states, you may be out of luck with the cost of your home insurance premium.

Finding the perfect home is more than just buying the right home. Many homeowners who want to protect their personal property from theft or damage from weather-related events know how important it is to have quality home insurance. However, home insurance is not always cheap. According to the National Association of Insurance Commissioners, homeowners insurance rates increased 1.6 percent between 2016 and 2017, reflecting rising home insurance costs. Despite this upward trend, some countries have managed to keep their premium costs relatively cheap.

Florida Homeowners Insurance Average Cost

Insurance companies use many variables to determine your homeowners insurance policy. Determining home liability based on the occupants and the area means that home insurance rates can vary depending on the area’s typical weather, potential for theft, or other properties such as vandalism. To take a deeper look at homeowners insurance rates and geographic demographics, the data science team studied home owner insurance data to determine the 10 states with the cheapest home insurance rates.

Closing Costs In Florida: What You Need To Know

The data science and research team at Homeowners Insurance, a homeowner insurance comparison site, studied homeowners data from the Insurance Information Institute to determine which states have the cheapest home insurance. HO-3 homeowner package policy data (for owner-occupied dwellings with one to four families) released by the National Association of Insurance Commissioners (NAIC) was used as the basis for measuring average home insurance policy costs by state.

Median home values ​​in states are most recently determined by the Zillow Home Value Index (ZHVI) measure, a smooth, seasonally adjusted average of home value and market changes by region and housing type. Burglary rates are estimated from the FBI’s Standardized Crime Reporting Program, with data obtained from the Summary Reporting System (SRS) at the state and national level.

Bring on the dancing lobsters, because Maine has some of the lowest home insurance premiums in the country. Both the average annual home premium and the median home price are below the national average, by 28 and 4 percent, respectively. Maine has the lowest burglary rate per capita, with a below-average burglary rate of 47 percent. While Maine does not follow the general national trend of lower median home values ​​being associated with lower burglary rates, Maine’s relatively low number of home burglaries can be attributed to its mostly rural residents – according to the US Census Bureau, Maine has the highest percentage of rural areas of the 50 states, and burglaries in densely populated areas. It can happen many times.

They can help you compare home insurance rates. Leave it to us to find the best price for you.

Florida’s Home Insurance Market Was A Mess Before Ian. It’s About To Get Worse

Ohio ranks ninth in the United States for affordable home insurance premiums. At an average of $862, home insurance in Ohio is 29 percent lower than the average premium nationally. Additionally, following the general trend of negatively correlated home values ​​and burglary rates, the median home value in Ohio is 59 percent below the average and the burglary rate is 8 percent above the average. Fortunately, Ohio homeowners can protect their property and insure their home at a relatively low cost.

Washingtonians looking to insure their home are in luck—the average home insurance premium in their state is 30 percent lower than most Americans pay. The median home price in Washington is the fifth highest in the nation at 39 percent higher than the national average, which means you need a whole green lot to buy a home in the Evergreen State. Given that Washington has a surprisingly high burglary rate (29 percent above average) relative to median home prices, modest homeowners can breathe a sigh of relief knowing that homeowner’s insurance is relatively inexpensive.

Your home deserves the best protection at the best price. Find home insurance rates that fit your budget.

Despite being the second smallest state in the United States, Delaware homeowners can rest assured that their state has the seventh cheapest home insurance premiums in the country. Home insurance costs in Delaware are on average 32 percent lower than the national average, even though the median home price is about the same as the national average. Delaware’s burglary rate is 15 percent lower than the national average, making Delaware one of the safest and safest places to own a home in the state.

The Average Cost Of Homeowners Insurance In Florida

Arizona ranks sixth among states with affordable home insurance premiums. With average home prices above average and burglary rates, home insurance costs in Arizona are 32 percent below average, making it an incredible asset for Arizona homeowners. Although Arizona does not follow the national trend of states with high burglary rates corresponding to low median home values, Arizona homeowners seem to be fortunate in terms of affordably insuring their homes.

Two is better than one! It can find you the best home and auto insurance packages, all in one convenient place.

The fifth state on our list, Wisconsin, is a true representation of that popular Midwestern hospitality — American Dairyland with relatively affordable insurance rates and home values. On average, homeowners in Wisconsin can afford to insure their home for 36 percent less than the average American. The median home value in Wisconsin is 23 percent below the national average, and the burglary rate is 37 percent below the average. Owning a home in Wisconsin seems to check all the boxes, with low home costs, insurance premiums and affordability across the board.

Many people come to Nevada every year to win big in Vegas. Fortunately, Nevada residents are winners when it comes to affordable home insurance premiums. Nevada has the fourth cheapest home insurance rates in the United States, 38 percent below the national average. These surprisingly low premiums are combined with above-average home values ​​and burglary rates of 15 and 35 percent. Likewise, Nevada is an excellent case, as these statistics do not follow the pattern of higher burglary rates associated with lower median home values. Conventional homeowners insurance in Nevada pays high rates for low rates, making it one of the cheapest states for home insurance.

Hurricane Ian Exposed A Flood Insurance Nightmare For Homeowners In Florida

Idaho isn’t known as the Game State for its mountainous terrain and natural beauty—the state’s third-cheapest homeowner’s insurance premiums in the nation certainly stand out. Homeowners in Idaho can expect to pay 40 percent less for home insurance than the national average. Idaho has a below-average burglary rate of 27 percent. Similar to the Wisconsin case, Idaho homeowners are fortunate to have low home values, insurance premiums and concerns about home theft.

At first glance, Utah homes are not cheap. The median home price in Utah is 28 percent higher than the national average, making it the eighth highest in the nation. However, home insurance in Utah is paradoxically affordable. The average annual homeowner’s insurance premium in Utah is $692, 43 percent lower than the national average. While the burglary rate in Utah is 18 percent lower than the national average, home values ​​and burglary rates are significantly negatively correlated. This lower theft rate may contribute to lower insurance premiums throughout the Beehive State.

Oregon is also a great state with the lowest home insurance premiums in the country. Oregon homeowners pay an average of 45 percent less insurance premiums than the rest of the country, even though Oregon homes are more expensive: Oregon has the seventh highest average home price in the United States, at 29 percent. It’s bigger than the national one. Average. The burglary rate in Oregon is about the same as the national average, not necessarily significantly negative after a significant negative relationship with median home value, but not significantly different from it.

The information, statistics and data images on this page are free to use and we ask that you only link to this page for any use in whole or in part. thank you!

Hurricane Ian Piles Up To $47 Billion Of Misery On Florida Home Insurance Market

The Insights team’s data scientists and content specialists provide a series of automotive, home and health studies focused on topics that affect us all. Combining over 4 million auto insurance applications and the best sources of data with expert analysis, the Insights team produces new data-driven articles, trend analysis, regional top rankings and national rankings every week. See Insights as featured in Forbes, Fox News, USA Today, NPR and others Homeowners insurance in Tampa, Florida ranges from $995 to $1 to $347 and from $82 to $112 per month. Our full analysis shows that consumers can save up to $468 by getting different quotes. Enter your zip code below and click “Go” to get tons of free quotes.

The average cost of home insurance in Tampa, Florida is $1,578, which is lower than the state average. Homeowners in Tampa, Florida can use home insurance rates to find the best and cheapest rates for many reasons. Below is the list

Leave a Reply

Your email address will not be published. Required fields are marked *