Local Homeowners Insurance: what it covers and what it costs

How homeowners insurance works

1. Set rebuild cost, not market price. Dwelling coverage is the cost to rebuild the house, which is not its sale price. Insurers estimate it from size, construction and local building costs; an agent can run the calculation with you.
2. Choose deductible and endorsements. A higher deductible lowers the premium. Common endorsements add water backup, service lines or extended replacement cost; each is priced separately on the quote.
3. Compare carriers through a licensed agent. The same house can quote very differently across carriers. A licensed local agent quotes several at once, and the state averages here show what typical looks like first.

What it covers, and what it does not

An HO-3 covers the dwelling against all perils except those excluded, and contents against named perils. Flood and earthquake are separate policies almost everywhere; wind or hail can carry separate deductibles in coastal and plains states. The policy documents control; nothing here is advice or a quote.

Common questions

How much is homeowners insurance?

The NAIC's countrywide HO-3 average is on this page and every state's published average is one click away. Premiums track rebuild cost, location and claims history.

Are these figures quotes?

No. They are the NAIC's published state averages for the 2022 data year. Carriers file new rates each year and every property prices differently; the averages are context, and a licensed agent is the route to a price.

Do I need it if the house is paid off?

No law requires it once there is no lender, though going without cover leaves the full rebuild cost and the liability exposure with the owner. Many owners keep the policy for the liability protection alone.

Rates data by state