Not All Home Insurance Rates Were Created Equal

Updated on May 8, 2018
Ruben Sarmiento profile image

Ruben Christopher is a licensed insurance agent who has been in the insurance industry for many years.

A complete list of home insurance rates by state

Homeowners across the country are bracing for their home insurance rates and premiums to rise this year. But have you ever wondered how the rates in your state compare to the rest of the nation? Sometimes the grass really is not greener on the other side in some states in the country. But paying more is not always a bad thing when it comes to insurance.

A lot of factors go into insurance companies determining your homeowner's insurance rate. One of the biggest factors may not surprise you, but it is the region where you live and the home is located. HowMuch.net decided to take a closer look at homeowners insurance rates in every single state in the nation and compiled a list made up of everything from the most expensive to the least expensive.

So to give you a better idea, Florida a state that gets pounded with hurricanes often. Florida had three major storms hit the state last year alone. So it is no surprise that Florida topped the list of the most expensive states to insure a home because the weather is a big factor in determining insurance rates for homes.

By contrast, let us look at the island state of Hawaii for a moment. Hawaii is an island in the Pacific ocean all alone. One might assume that Hawaii suffers from storms and hurricanes being that it is an island in the middle of the ocean. However often times severe weather passes Hawaii by, which helps Hawaii top the list for the cheapest states to insure a home.

Hawaii is not just the cheapest state but the cheapest by $300 a year, when compared to the next cheapest state Vermont. The ten cheapest states all have a history of minimal natural disasters. So this plays a big part in their rates being at the bottom of the list and making them the cheapest. The state where I personally reside, Nevada, is one of the cheapest states on the list. We don't have any natural disasters that would affect our rates, just some high winds now and then.

The 10 cheapest:

  1. Hawaii: $703
  2. Vermont: $1,033
  3. Utah: $1,105
  4. Idaho: $1,106
  5. Oregon: $1,137
  6. Washington: $1,155
  7. Nevada: $1,204
  8. New Hampshire: $1,243
  9. Maine: $1,276
  10. Delaware: $1,306

Now by contrast when we examine the ten states that top the list making them the most expensive, we notice they are located in two distinct regions. We have some located in the deep south near the Gulf of Mexico. States in this area are constantly dealing with hurricans, just like our costliest state Florida.

The other distinctive area is the part of the country that has come to be known as "Tornado Alley." States located in this region like Oklahoma, Kansas, Arkansas, and Missouri are all in the top ten most expensive category.

10 Most expensive: 1. Florida: $6,892, 2. Louisiana: $6,115, 3. Alabama:$4,532, 4. Oklahoma: $4,454, 5. Arkansas: $4,026, 6. Texas: $3,306 , 7. Missouri: $3,121, 8. Kansas: $3,170, 9. South Carolina: $2,833, 10. Tennessee: $2,820

Now as I mentioned earlier in the article, paying more is not always a bad thing when it comes to insurance. Why? Because in the event of a major loss, you look to your insurance to make you whole again. The well-known money expert Clark Howard has stated that there are two insurance companies that stand out in this regard. The two companies that have a great reputation for making clients whole after a loss are Amica and USAA.

Sadly USAA is only available to military members, former military members, and their direct family members. Amica is a mutual company like many insurance companies in operation today. So to be clear as a mutual company Amica does not have the typical shareholders like most other companies but rather you have to buy into the company to be a member.

So your rate is higher because of this but they offer a claim free rewards program. The company will send you a check for up to 20% of the premium paid for every year you don't have a claim. There are a few other companies that practice this such as Allstate insurance.

Don’t forget about flood insurance and renter’s insurance either. Many places across the country now require renters to have renters insurance. The reason for this is to protect their belongings in the event of a loss. Homeowners insurance will cover your home if it burns down or a tree falls through your roof. But it doesn't always cover floods in the home. So if you live in an area that is prone to flooding, then consider taking out a flood insurance policy.

Ranked by Region with Average Insurance Cost

North East

New England

1.Connecticut: $1,789

2. Maine: $1,276

3. Massachusetts: $2,050

4. New Hampshire: $1,243

5. Rhode Island: $ 2,716

6. Vermont: $1,033

Middle Atlantic

7. New Jersey: $1,318

8. New York: $1,988

9. Pennsylvania: $1,587

Mid West

East North Central

10. Indiana: $2,282

11. Illinois: $1,786

12. Michigan: $1,997

13. Ohio: $1,537

14. Wisconsin: $1,439

West North Central

15. Iowa: $2,063

16. Nebraska: $2,615

17. Kansas: $3,170

18. North Dakota: $2,313

19. Minnesota: $2,252

20. South Dakota: $2,546

21. Missouri: $3,121

South

South Atlantic

22. Delaware: $1,306

00. District of Columbia: $1,365

23. Florida: $6,892

24. Georgia: $2,212

25. Maryland: $1.692

26. North Carolina: $1,538

27. South Carolina: $2,833

28. Virginia: $1,877

29. West Virginia: $2,494

East South Central

30. Alabama: $4,532

31. Kentucky: $2,471

32. Mississippi: $4,351

33. Tennessee: $2,820

West South Central

34. Arkansas: $4,026

35. Louisiana: $6,115

36. Oklahoma: $4,454

37: Texas: $3,306

West

Mountain

38. Arizona: $1,351

39. Colorado: $2,311

40. Idaho: $1,106

41. New Mexico: $2,012

42.Montana: $1,999

43. Utah: $1,105

44. Nevada: $ 1,204

45. Wyoming: $1,888

Pacific

46. California: $1,619

47. Alaska: $1,604

48.: Washington: $1,155

49. Oregon: $1,137

50. Hawaii: $703

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