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Average Homeowners Insurance Rates

average homeowners insurance ratesTo ensure that you are getting the best rates, Wise Insurance Quotes offers a guide of average homeowners insurance rates broken down on a regional basis. As you may already know, homeowner insurance rates depend on where you live.

Where your house is located plays a significant role in the premium cost of your homeowners insurance. There are geographical factors in different areas of the county, which are tagged as high-risk areas.

In the Western part of the United States, insurance premiums are extremely varied. The state which the average homeowners insurance rates are the highest is California ($937) ranking number 7 in the nation. This is plainly attributable to the high cost of living in the area and environmental factors such as floods, fires and earthquakes, which almost always hit this state every year. The second highest state with homeowners coverage is Alaska ($850).

Colorado is way down at 16th with $813 as an annual average. Hawaii offers $776 ranked at 20th, which is followed by North Dakota offering an average of $742. Nevada is 29th ($693), and then at number 32 is Montana ($666). Wyoming($648) is down at rank 36. Slash Your Home Insurance Premiums. Search for Lower Rates
Arizona ($640) ranks 38, followed by New Mexico ($638) at number 39. The last five states which are at ranks 41st, 42nd, 46th, 47th and 49th are South Dakota ($628), Washington ($603), Oregon ($502), Utah (494), and Idaho ($477).

The Midwest portion of the U.S. have higher premium rate above the national average and this can be due to the high risk of being hit by tornadoes. However, according to the National Association of Insurance Commissioners, the premium cost can be pulled down because of its relatively reasonable cost of living in this area. The highest in the area is Oklahoma with a very expensive premium rate of $1,018, which places it at rank number 4. Number 13 is Kansas ($866), then Minnesota ($788) at 18th and Nebraska ($783) at 19th. Down at 24th and 25th are Michigan ($715) and Missouri ($707). Ranking at number 30th and 39th are Illinois ($674) and Indiana ($638). At the end of the tail are Iowa ($596) at 43rd, Ohio ($530) at 45th, and Wisconsin ($490) at 48th.

The Eastern U.S. has relatively varied premium ranges due to the extreme high cost of living and other risk factors, including hurricanes and inclement winter weather. The ranking of states is as follows: 8th Massachusetts ($925), 9th Rhode Island ($919); 11th Connecticut ($878),12th New York ($869), 22nd New Jersey ($726), 29th Vermont ($677), 31st New Hampshire ($669), 34th West Virginia ($650), 37th Pennsylvania ($643), 44th Maine ($573), and 45th Delaware ($530).

The most expensive place to purchase homeowners insurance is the South because of disasters like Hurricane Katrina, damage produced by storm surge and other disasters. Texas ranks the highest ($1,409), with Florida second ($1,386), followed by Louisiana at third ($1,257), and Alabama ($894) tenth. Down at number 14 is South Carolina ($851); then 17 is Arkansas ($802). Maryland ($721) ranks 23rd and Tennessee ($706) at 26th followed by Georgia ($703) at 27th. States at the bottom of the list in the region are Virginia ($662) at number 33, North Carolina ($649), and Kentucky ($637) at number 40.