Selecting a homeowners insurance policy is one of the more important purchasing decisions you’ll make after finding a new home.
There are a couple reasons for this: homeowners insurance protects your assets — the home itself, personal property within the home and legal and medical bills if someone is injured on your property. Home insurance is also required by most mortgage companies before they’ll lend to you.
It’s important to have a good grasp of the basics, including what is covered and what isn’t covered. But generally, homeowners insurance premiums are dependent on the state you live in, population density of your town or city, how old your house is and how much it would cost to rebuild.
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What’s the average cost?
Homeowners insurance premium costs differ from state to state for a number of reasons. If a state has a lot of major cities and more densely populated areas, it’s more likely to have higher premiums, as home values are generally higher. States in areas with a higher incidence of natural disasters also generally have higher premiums than states that don’t match that criteria.
The average annual homeowners insurance premiums in 2015 were around $1,100, according to the Insurance Information Institute (III). Click ahead to find out how much the average homeowners insurance premium is in your state.
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Alabama
Average homeowners insurance premium: $982
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Arizona
Average homeowners insurance premium: $810
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Arkansas
Average homeowners insurance premium: $1,312
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California
Average homeowners insurance premium: $986
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Colorado
Average homeowners insurance premium: $1,383
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Connecticut
Average homeowners insurance premium: $1,411
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Delaware
Average homeowners insurance premium: $780
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District of Columbia
Average homeowners insurance premium: $1,196
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Florida
Average homeowners insurance premium: $1,993
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Georgia
Average homeowners insurance premium: $1,152
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Hawaii
Average homeowners insurance premium: $1,014
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Idaho
Average homeowners insurance premium: $692
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Illinois
Average homeowners insurance premium: $1,033
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Indiana
Average homeowners insurance premium: $983
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Iowa
Average homeowners insurance premium: $919
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Kansas
Average homeowners insurance premium: $1,531
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Kentucky
Average homeowners insurance premium: $1,062
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Louisiana
Average homeowners insurance premium: $1,945
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Maine
Average homeowners insurance premium: $843
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Maryland
Average homeowners insurance premium: $982
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Massachusetts
Average homeowners insurance premium: $1,379
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Michigan
Average homeowners insurance premium: $908
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Minnesota
Average homeowners insurance premium: $1,323
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Mississippi
Average homeowners insurance premium: $1,508
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Missouri
Average homeowners insurance premium: $1,253
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Montana
Average homeowners insurance premium: $1,081
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Nebraska
Average homeowners insurance premium: $1,360
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Nevada
Average homeowners insurance premium: $737
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New Hampshire
Average homeowners insurance premium: $941
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New Jersey
Average homeowners insurance premium: $1,149
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New Mexico
Average homeowners insurance premium: $982
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New York
Average homeowners insurance premium: $1,287
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North Carolina
Average homeowners insurance premium: $1,075
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North Dakota
Average homeowners insurance premium: $1,200
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Ohio
Average homeowners insurance premium: $819
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Oklahoma
Average homeowners insurance premium: $1,879
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Oregon
Average homeowners insurance premium: $643
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Pennsylvania
Average homeowners insurance premium: $913
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Rhode Island
Average homeowners insurance premium: $1,446
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South Carolina
Average homeowners insurance premium: $1,284
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South Dakota
Average homeowners insurance premium: $1,096
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Tennessee
Average homeowners insurance premium: $1,149
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Texas
Average homeowners insurance premium: $1,991
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Utah
Average homeowners insurance premium: $673
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Vermont
Average homeowners insurance premium: $873
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Virginia
Average homeowners insurance premium: $946
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Washington
Average homeowners insurance premium: $811
Image Credit: Snohomish, Washington by Jasperdo (CC BY-NC-ND).
West Virginia
Average homeowners insurance premium: $907
Image Credit: Downtown Huntington, West Virginia by formulanone (CC BY-NC-SA).
Wisconsin
Average homeowners insurance premium: $750
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Wyoming
Average homeowners insurance premium: $1,088
If you’re a renter, you’ll still want insurance to protect your belongings. Find out the average renters insurance premium in each state here.
This article originally appeared on Policygenius and was syndicated by MediaFeed.org.
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