For instance if we compare State Farms home insurance according to our criteria for the best home insurance it scores a 38 out of 5. Cheapest homeowners insurance in Minnesota Auto-Owners has Minnesotas lowest average annual rate of 1086.
We saw average premiums as low as 55 per month and as high as 172 per month with a national average of just over 101 per month.
What states have the lowest homeowners insurance rates. AP PhotoCarlos Osorio 10. A house in the Detroit suburb of Southfield Mich. However we recommend making your decision on more than just which company has the lowest rates.
Even as the total number of policies in the state has risen 12 over the past decade the number of companies offering homeowners insurance has. According to our research the home insurance rates calculated from State Farm went down by 22 to 30 when we added an auto insurance policy. But when we compare State Farm according to the criteria for the best auto insurance it scores higher since the features the company offers can vary by the type of insurance.
In nearly every ZIP code the discount for bundling with State Farm was greater than with any other insurer we analyzed. When looking for affordable home insurance the lowest. 53 rows If you havent been watching homeowners insurance rates have been on the increase.
But even AAA with an average rate of 1235 Travelers at 1252 and American Family at 1332 stay cheap in comparison to other insurers we looked at. 10 states with the lowest homeowners insurance cost. Our research of the average cost of homeowners insurance included more than 125000 quotes from 121 companies for every ZIP code in the US.
Yet major severe weather routinely passes the Aloha State by so its the cheapest state in the Union to insure a home. For 300000 dwelling coverage with a 1000 deductible and 300000 liability limits the average rate of 5911 for ZIP code 77455 is the highest for the Lone Star state. ZIP codes for Anahuac Angleton and Clute with rates ranging from 1148 to 1239 are among the cheapest Texas home insurance rates by ZIP code.
As in many other states USAA has the lowest insurance representative rates for our driver profiles at 645 per year. Heres a look at where other states fall on the spectrum. The average annual cost of homeowners insurance in Minnesota is 1481.
These rates were based on a 40 year old driver with clean MVR and median insurance credit score an 8 year old 40K tractor and 22K trailer with 1 Million. Geico isnt far behind with an annual cost of 716 according to our study. The Northeast and Northwest have below-average rates for insurance including some states with major metro areas like New York where it costs just 1840.
In Utah we found that the best price for a typical homeowner is 425 per year. Hawaiians enjoy the cheapest rates for homeowners insurance at just 499 per year thanks in large part to the relatively rare occurrences of insurable natural disasters. Louisiana has the most expensive home insurance at an average of over 1980 a year and Oregon has the cheapest average home insurance at around 700 a year.
In fact the average home insurance policy in Hawaii is a whopping 300 cheaper per year than the second cheapest state which happens to be Vermont. Among the least expensive states for home insurance are Hawaii and Vermont. Heres a list of our top recommendations for home insurance in the state of Utah.
Best for most people. The average cost of homeowners insurance is around 1250 a year but many factors play a role including the details of your property and which state and city you live in. Finding the cheapest homeowners insurance depends on multiple factors including where you live and the age of your home.