How Much is Homeowners Insurance ?

How-Much-Is-Homeowners-Insurance

While planning to buy a new homeowners insurance policy, one of the basic questions pop up in mind is that how much is the homeowners insurance for my home  ?

People often comes with questions like how much is home insurance in Texas, how much is home insurance on a 300K home or how much is home insurance Allstate, Farmers, Nationwide etc. Here we have the answer in detail for all such queries.

The cost of Home insurance is not a fixed amount based on the size, cost, value or worth of your property.

Sure, these things play an important role in in deciding the amount of coverage you will require.

However here are many other factors that determine the premium that you need to pay. Therefore, insuring a house for the same insured value will cost differently due to several factors.

Some of these are described briefly, as below:

  • The location of your house – Depending on which state and region your house lies, you will be required to pay different rate of premium.
  • The deductible amount – Deductible mean the amount that you would pay first in case of a claim. High deductible will lower your home insurance premiums.
  • The value of your personal belongings which is included in the Homeowners Insurance also affects the insurance premium. Insuring for more would definitely raise the insurance premium.
  • The age of your home also affects the premium. Older homes need more insurance premium to be paid.
  • If your home has several safety and security appliances and features, then it will reduce the premium.

There are many other factors that decide the size of your insurance premium.

For your ready reference, the average cost of home insurance come to around $900, and it may start from around $300.

Homeowner Insurance is something you cannot do without, as a house is the most essential and valuable asset.

No votes yet.
Please wait...

LEAVE A REPLY

Please enter your comment!
Please enter your name here