Homeowners insurance calculator: Estimate the cost of homeowners insurance

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A homeowners insurance calculator is a valuable tool for estimating home insurance costs in your area. With your ZIP code and a few pieces of coverage information, you can plug in some numbers and see rates for your home. You can then compare quotes from different carriers.

To estimate how much home insurance you need, use the homeowners insurance calculator in conjunction with some of your own calculations. For instance, you should know how much dwelling coverage to purchase. This is the portion of your home insurance that rebuilds the structure of your home.

Insure.com’s home insurance calculator leverages thousands of sample rates from across the country, provided by Quadrant Data Services, to provide you with average rates in your area for homes like yours.

Read on to find out how to use a home insurance calculator to estimate your home insurance needs.

Key Takeaways

A homeowners insurance calculator helps estimate your costs based on average rates in your area.
Before you calculate rates, determine how much dwelling and liability coverage you need and the deductible you’re comfortable with.
Compare homeowners insurance quotes for your home from multiple companies to find the best rate and company for your specific needs.

How to use a homeowners insurance cost calculator to estimate cost

A homeowners insurance calculator helps you estimate how much a home insurance policy will cost you based on sample rates for homes in your area. You’ll also have the option to request specific quotes based on the amount of coverage you need. You don’t have to give away too much personal information in order to get rate estimates.

To use the homeowners insurance calculator:

Start by entering your ZIP code and the amount of dwelling coverage you need. This is the portion of your insurance that rebuilds the structure of your home from the ground up. It’s an important part of your coverage, and you don’t want to underinsure your home, so make sure to get a good estimate of what it would cost to rebuild your home using labor and materials prices in your region. Your insurance agent can help with this number.
Decide how much personal liability coverage you need. A standard policy is $100,000. Experts recommend at least $300,000.
Choose a deductible. A higher home insurance deductible will lower your premium, while a lower one means you’ll pay more for coverage; however, it’s important to know what you’d be comfortable paying if you file a claim.

The tool will provide you with rate estimates based on your entered information.

Home Insurance Calculator

See how the average annual home insurance rates vary with the options chosen.

ZIP

Average Annual Home Insurance Rates

33315 - Fort Lauderdale

$10,230 Average rate

$19,810 Highest
rate

$2,341 Lowest
rate

Most expensive ZIP for home insurance in
Florida

ZIP Code	City	Average Rate
33070	Islamorada Village of Islands	$18,374
33037	Key Largo	$18,140
33036	Islamorada Village of Islands	$18,033
33001	Long Key	$18,014

Least expensive ZIP for home insurance in
Florida

ZIP Code	City	Average Rate
32307	Tallahassee	$2,251
32313	Tallahassee	$2,251
32306	Tallahassee	$2,251
32308	Tallahassee	$2,267

Methodology

Insure.com commissioned Quadrant Information Systems to field home insurance rates from major insurers in each state for nearly all ZIP codes in the country for 10 coverage levels based on various dwelling and deductible limits. The homeowner profile is a 35-year-old married applicant with excellent insurance score; new business HO3 policy for house built in 2000 with frame construction and composition roof. Other Structures: 10%. Loss of Use defaulted: 10%. Guest Medical limit: $5,000. Deductible limit: $1,000. Personal property: 50% of dwelling coverage for replacement value

How do we estimate the cost of home insurance?

We commissioned rate data from Quadrant Data Services for home insurance across the country at various coverage levels. The data encompasses 147 insurance companies with rates from 34,587 ZIP codes in all 50 states and D.C. In all, Insure.com analyzed 14,723,760 rate quotes. Our calculator leverages that data to provide you with an accurate estimate of home insurance rates in your area.

Homeowners insurance cost by state

Home insurance rates are based on several factors. A major factor is where you live. States like Nebraska, with an average annual rate of $4,800, and Florida, with an average yearly cost of $4,419, have higher rates due to extreme weather like hurricanes and tornadoes and state laws.

In states like Vermont and Idaho, where severe weather is less common, you’ll pay less than half that amount. The table below shows average home insurance rates by state.

State	Estimated annual premium	Estimated monthly premium
Alaska	$1,708	$142
Alabama	$3,147	$262
Arkansas	$3,958	$330
Arizona	$2,490	$208
California	$1,405	$117
Colorado	$4,099	$342
Connecticut	$2,231	$186
Washington, D.C.	$1,342	$112
Delaware	$1,384	$115
Florida	$4,419	$368
Georgia	$2,302	$192
Hawaii	$613	$51
Iowa	$2,654	$221
Idaho	$1,961	$163
Illinois	$3,062	$255
Indiana	$2,991	$249
Kansas	$4,843	$404
Kentucky	$3,326	$277
Louisiana	$3,594	$300
Massachusetts	$1,640	$137
Maryland	$1,715	$143
Maine	$1,391	$116
Michigan	$2,411	$201
Minnesota	$2,420	$202
Missouri	$3,543	$295
Mississippi	$3,380	$282
Montana	$3,289	$274
North Carolina	$2,941	$245
North Dakota	$3,147	$262
Nebraska	$4,800	$400
New Hampshire	$1,221	$102
New Jersey	$1,526	$127
New Mexico	$2,647	$221
Nevada	$1,467	$122
New York	$1,816	$151
Ohio	$2,160	$180
Oklahoma	$5,858	$488
Oregon	$1,755	$146
Pennsylvania	$1,911	$159
Rhode Island	$1,950	$163
South Carolina	$2,678	$223
South Dakota	$3,390	$283
Tennessee	$3,060	$255
Texas	$3,851	$321
Utah	$1,802	$150
Virginia	$2,151	$179
Vermont	$1,263	$105
Washington	$1,612	$134
Wisconsin	$1,662	$139
West Virginia	$1,911	$159
Wyoming	$1,897	$158

QuickTake

Average homeowners insurance cost by ZIP code in 2024

Average home insurance rates for recommended coverage

When your home's market value is less than its insurance value

Homeowners insurance cost by coverage level

The amount of dwelling coverage you need is another major factor affecting home insurance rates. Dwelling coverage is the replacement cost of your home, or how much it would cost to rebuild it, and not the market value.

Dwelling coverage affects rates more than liability. With the default $100,000 liability limits, you’ll pay about $1,955 for $200,000 in dwelling coverage. The cost only jumps to $2,005 if you increase your liability to $300,000, which most experts recommend.

A home with a $400,000 dwelling limit and $300,000 in liability coverage with a 2% hurricane deductible will cost about $3,011; $1 million in dwelling coverage brings you to an average of over $5,000 in home insurance premiums.

The table below shows average costs based on your dwelling and liability coverage limits. It also shows what you might pay if you factor in a percentage-based hurricane deductible, which several states have.

Dwelling coverage	Liability coverage	Deductible	Hurricane Deductible	Average annual cost
$200,000	$100,000	$1,000	2%	$1,955
$200,000	$100,000	$1,000	None	$1,988
$200,000	$300,000	$1,000	2%	$1,973
$200,000	$300,000	$1,000	None	$2,005
$300,000	$100,000	$1,000	2%	$2,504
$300,000	$100,000	$1,000	None	$2,582
$300,000	$300,000	$1,000	2%	$2,523
$300,000	$300,000	$1,000	None	$2,601
$400,000	$100,000	$1,000	2%	$2,992
$400,000	$100,000	$1,000	None	$3,114
$400,000	$300,000	$1,000	2%	$3,011
$400,000	$300,000	$1,000	None	$3,134
$600,000	$100,000	$1,000	2%	$3,816
$600,000	$100,000	$1,000	None	$3,951
$600,000	$300,000	$1,000	2%	$3,839
$600,000	$300,000	$1,000	None	$3,973
$1,000,000	$100,000	$1,000	2%	$5,031
$1,000,000	$100,000	$1,000	None	$5,235
$1,000,000	$300,000	$1,000	2%	$5,050
$1,000,000	$300,000	$1,000	None	$5,257

How to calculate how much homeowners insurance coverage you need

Your dwelling coverage is one of the most important components of your homeowners policy, as it covers the actual structure of your home. You need to determine what it would cost to rebuild your house using labor and materials at today’s costs in your area. This is called replacement cost. Keep in mind the individual features of your home.

“I recommend getting a level of 10% to 25% higher than the replacement value of the home,” says Christopher J. Marquette, professor at the Tabor School of Business and managing editor at the Journal for Global Business Advancement. “If a homeowner doesn’t know the replacement value of their home, a good rule of thumb is $150 per square foot absent costly distinguishing features such as stained-glass windows, marble fireplaces, crystal chandeliers, etc.”

The liability portion is also a key feature. It protects you from lawsuits if someone gets hurt on your property or if you damage someone else’s property – even if you’re away from home.

“The base liability limit for a standard policy is $100,000 but can be increased up to $500,000,” Marquette says. “The limit the homeowner chooses depends on their level of wealth.”

If you need additional coverage, consider an umbrella insurance policy.

“Policyholders can also increase their coverage by getting a separate umbrella policy, which covers them for any amount above the liability limits of their other policies, including homeowners and automotive,” Marquette says.

What factors are used to calculate homeowners insurance rates?

The biggest factors used to calculate home insurance rates are:

Location
Construction type and materials
Size and features of the home
Past claims
Credit score (in most states)

“Factors that affect rates include the construction materials, the location of the home, any previous homeowners’ insurance claims, the deductible is chosen, and, in some states, the policyholder’s credit score,” Marquette says.

Like most types of insurance, the more claims you have, the more you’ll pay. If you have a more expensive home with high-end finishes, you’ll need a higher dwelling limit and will pay a little more. Policy premiums will be higher if you live in an area prone to unpredictable weather or natural disasters.

What are the best homeowners insurance companies?

You’ll want to shop around for the best insurance company to fit the needs of your home and your family. A few factors come into play, not just price. Customer service, policy offerings and trustworthiness are also important features to homeowners.

Insure.com rated the best home insurance companies for 2024 based on a customer survey, third-party ratings and average home insurance rates. The top 10 home insurance companies for 2024 are:

Erie Insurance
Amica
Auto-Owners
State Farm
Allstate
American Family
Nationwide
Farmers
Travelers
Progressive

These companies ranked highest in these categories::

Best for cheap rates: Amica
Best for customer satisfaction: Erie
Best for ease of service: American Family
Best for policy offerings: Erie
Most recommended: Erie
Most trustworthy: American Family
Best for renewals: Erie

Comparison shopping for home insurance

To compare shop for home insurance, you can contact insurance companies individually or compare quotes online.

You should request multiple quotes and play around with deductibles to see what you can and can’t afford. A higher deductible will get you cheaper rates, but remember, you’ll be responsible for paying that deductible if you ever put in a claim. Make sure the trade-off of higher deductible vs. lower premium is one you can handle in the long run.

Bundling your home and auto insurance can provide discounts, so ask about that option and request quotes for both at the same time.

The bottom line: Estimating the cost of homeowners insurance

A home insurance calculator tool is an extremely helpful and easy way to estimate your home insurance costs. Along with your own dwelling coverage calculation and with the help of your agent, you should be able to come up with a premium amount you can afford while protecting your most valuable asset.

Frequently asked questions

Is there a formula to estimate home insurance costs?

You can always multiply the square footage of your home by the cost of labor and building materials in your area to come up with a dwelling coverage amount; however, it will be a very loose estimate. To get a more accurate figure, ask your agent for help – they usually have a dwelling coverage calculator. Then use a home insurance calculator.

What is the rule of thumb for calculating home insurance?

You need to know how much dwelling and liability insurance you need, what deductible you’re willing to pay and go from there. Then you can use an online home insurance calculator or shop around for quotes.

What our expert says

Christopher J MarquettePhD, Tabor School of Business, Millikin University | Managing Editor, Journal for Global Business Advancement.

“Factors that affect rates include the construction materials, the location of the home, any previous homeowners’ insurance claims, the deductible chosen and, in some states, the policyholder’s credit score.”

How much is home insurance in your state or city

Compare home insurance rates by state and learn about how home insurance works in your area. Select your state or city from the below list to get an estimate of home insurance cost.

Alaska ($1,867/year)

Anchorage|Fairbanks|Juneau|Sitka|Wasilla

Alabama ($2,882/year)

Beaverton|Gardendale|Huntsville|Mobile|Tuscaloosa

Arkansas ($4,062/year)

Fayetteville|Fort Smith|Jonesboro|Little Rock

Arizona ($1,947/year)

Chandler|Gilbert|Mesa|Phoenix|Tucson

California ($1,357/year)