Average Home Insurance Rates by State
Lowest Premiums for Homeowners Coverage in Idaho, Utah and Oregon
Nov 11, 2009
Based on figures from HomeInsurance.com’s Rate Report, the average annual premium for homeowners insurance in the U.S. was $696 as at September 2009.
This represents a 13.4% drop from the $804 national average in 2006. The latter premium statistic per the National Association of Insurance Commissioners (NAIC) culminated a 58.3% rise since year 2000.
Rate Report data is based on policy premiums sold over the past 12 months. While HomeInsurance.com is constantly expanding its database of home insurance rates, only premiums from 42 states plus the District of Columbia were available for September 2009. Currently excluded are rates from Alaska, Hawaii, Massachusetts, Michigan, New Jersey, North Dakota, Rhode Island and Wyoming.
States with Lowest Home Insurance Rates
The following 14 states had the lowest average home insurance rates for September 2009. Among these states, 7 had rate decreases from premiums quoted in April. Arizona had the greatest percentage rate decrease at 12.6%, while Maine had the highest double-digit premium increase over the 5 months to September.
- Idaho … US$362 annual premium (down 0.2% from April 2009)
- Utah … $385 (up 17.9%)
- Oregon … $472 (down 0.6%)
- Arizona … $499 (down 12.6%)
- Wisconsin … $514 (down 10.2%)
- North Carolina … $533 (down 10.2%)
- Nevada … $534 (down 6.5%)
- Iowa … $540 (up 7.4%)
- Virginia … $553 (up 0.4%)
- New Mexico … $555 (up 11.2%)
- Washington … $556 (down 5.1%)
- West Virginia … $557 (earlier data not available)
- Ohio … $559 (up 3.2%)
- Maine … $561 (up 25.4%).
States with Below Average Home Insurance Premiums
The 10 states below also experienced average annual home owner insurance rates below the U.S. national average of $696 for September 2009. Only 4 of these states had mild decreases in quoted home insurance rates from April. In other jurisdictions like Montana, homeowners faced premium increases as high as 46.7%
- New Hampshire … US$623 annual premium (down 3.6% from April 2009)
- Pennsylvania … $625 (down 3.8%)
- Maryland … $639 (up 10.8%)
- Montana … $645 (up 46.7%)
- Illinois … $647 (up 22.7%)
- New York … $656 (up 1.9%)
- California … $676 (up 1.7%)
- Connecticut … $683 (up 11.4%)
- Indiana … $683 (down 8.7%)
- Colorado … $691 (down 9.6%).
States Charging Highest Home Insurance Rates
Homeowner in the remaining 19 jurisdictions received home insurance rates that were generally higher than the national average for September 2009. Even then, 12 of those states had home insurance rates that were lower than the national average premium of $804 for 2006.
- Louisiana … US$1,317 annual premium (up 7.9% from April 2009)
- Mississippi … $1,061 (down 21.3%)
- Florida … $1,016 (down 1.5%)
- Oklahoma … $984 (down 4.0%)
- Texas … $967 (down 10.1%)
- Kansas … $938 (up 16.6%)
- District of Columbia … $835 (up 10.2%)
- Arkansas … $800 (down 2.9%)
- Vermont … $788 (up 21.4%)
- Alabama … $780 (down 3.1%)
- Minnesota … $774 (up 7.6%)
- Missouri … $765 (down 1.0%)
- Kentucky … $754 (down 12.2%)
- Tennessee … $750 (down 5.9%)
- Nebraska … $749 (down 11.2%)
- Georgia … $743 (up 1.7%)
- South Dakota … $734 (down 13.6%)
- South Carolina … $724 (down 3.8%)
- Delaware … US$699 annual premium (up 35.9%).
Among the 19 geographies paying the highest average premiums for home owners insurance, 5 states registered double-digit rate declines led by Mississippi’s 21.3% average price drop.
Sources
This analysis provides independent calculations and insights based on source data publicly available on HomeInsurance.com, a leading third-party website committed to consumer education.
Note that percentage comparisons for South Dakota, Florida and Louisiana were based on July 2009 because earlier data was not available.
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