Average Cost of Homeowners Insurance (2014)

Article by Brian Quinn on Value Penguin (see original article by clicking here)

Homeowners insurance prices continue to rise at a steady rate throughout the United States, up over 50% in the last 10 years alone. And if you’re in the market for a policy you might be looking to get an idea of what parts of the country are most and least expensive. To that end, Value Penguin did some digging and number crunching to help you make sense of the data.

Average Cost of Homeowners Insurance

In our first table we’ve looked at homeowners insurance premiums on both a monthly and annual basis. For additional context we’ve included how each state stacks up against the average annual premium of $978. A positive number in the “% Change vs. Avg” column represents a state that’s more expensive than average, while a negative value represents a cheaper than average state.
The numbers are “Monthly Homeowners Insurance”, “Annual Homeowners Insurance”,   “% Change vs. Avg”
Alabama  $96.92   $1,163   18.9%
Alaska      $77.00   $924     -5.5%
Arizona    $56.25   $675    -31.0%
Arkansas $85.75   $1,029    5.2%
California $80.58 $967     -1.1%
Colorado $80.08  $961     -1.7%
Connecticut $91.33 $1,096 12.1%
D.C.         $90.25   $1,083  10.7%
Delaware $55.33  $664    -32.1%
Florida   $161.08  $1,933   97.6%
Georgia  $75.50   $906      -7.4%
Hawaii   $75.58   $907      -7.3%
Idaho     $43.17   $518    -47.0%
Illinois   $68.50 $822    -16.0%
Indiana $64.92 $779     -20.3%
Iowa      $59.42 $713     -27.1%
Kansas  $91.92 $1,103   12.8%
Kentucky $69.92 $839  -14.2%
Louisiana $139.33  $1,672  71.0%
Maine    $59.50  $714   -27.0%
Maryland $66.67  $800   -18.2%
Massachusetts $89.33  $1,072   9.6%
Michigan $64.50  $774    -20.9%
Minnesota $88.00  $1,056   8.0%
Mississippi $117.42 $1,409   44.1%
Missouri   $85.17  $1,022    4.5%
Montana  $68.17  $818     -16.4%
Nebraska $79.83  $958     -2.0%
Nevada    $57.42   $689   -29.6%
New Hampshire $67.58  $811   -17.1%
New Jersey $76.25  $915    -6.4%
New Mexico $66.08  $793   -18.9%
New York   $91.42  $1,097    12.2%
North Carolina $72.42  $869    -11.1%
North Dakota $80.75  $969    -0.9%
Ohio     $53.67   $644     -34.2%
Oklahoma $115.50  $1,386    41.7%
Oregon $46.58  $559    -42.8%
Pennsylvania $62.00  $744    -23.9%
Rhode Island $94.92  $1,139     16.5%
South Carolina $90.92  $1,091   11.6%
South Dakota $60.08  $721    -26.3%
Tennessee $76.25  $915    -6.4%
Texas    $131.50  $1,578    61.3%
Utah     $46.92   $563     -42.4%
Vermont  $62.33  $748    -23.5%
Virginia $65.17   $782    -20.0%
Washington $52.17  $626    -36.0%
West Virginia $61.92  $743    -24.0%
Wisconsin $49.33  $592    -39.5%
Wyoming $64.17  $770    -21.3%

*Annual premium data courtesy of the NAIC 2013 Homeowners Study
– See more at: http://www.valuepenguin.com/average-cost-of-homeowners-insurance#sthash.E3cMhCxt.dpuf

Comments are closed.