TAMPA, Florida., November 3, 2022 /PRNewswire/ — A recent Clearsurance.com national home insurance study revealed that the condition of the policyholder makes one of the biggest differences in premiums. Inland states tend to have higher rates than those on both coasts.
from Kansas average rates for a $200,000 home are higher than any other state. Here is the list of the top 10 states with the most expensive annual home insurance premiums for a $200,000 lodge:
- Kansas – $2615
- Oklahoma – $2,321
- Nebraska – $2,198
- Colorado – $2,157
- Texas – $1,892
- Tennessee – $1,880
- Arkansas – $1,823
- Montana – $1,766
- Missouri – $1,755
- Louisiana – $1,736
The cheapest states for home insurance are Hawaii ($327), Vermont ($428)and New Hampshire ($607).
Several states on the list of most expensive homeowners insurance are in the Midwest. One of the contributing factors is that some of the biggest risks on the southeast coast are flood damage from hurricanes and tropical storms. On the West Coast, earthquakes pose a significant risk of causing damage to homes.
Standard home insurance does not cover any of these events. Flood and earthquake insurance are separate policies for homeowners in at-risk regions. One of the risks of living in the Midwest is damage from tornadoes, and standard homeowners insurance policies cover this type of damage. The increased risk contributes to higher home insurance rates.
Clearsurance.com provides the following tips for getting the best home insurance rates.
- Combine your home insurance with auto insurance.
- Increase your home insurance deductible.
- Consider changing your coverage level.
- Install home security devices in your home.
- If you’ve been claim-free, shop around for a bargain.
By comparing insurers and their average rates in the United States, Clearsurance.com discovered that Nationwide offered the best average rates for a $200,000 house while State Farm had the lowest rates for a $400,000 residence.
Melanie Mussona nationally recognized home insurance expert at Clearsurance.com, explains, “Home insurance rates are very competitive between providers. An individual’s risk profile, including where they live, has a greater effect on price. way to find an insurer with the most affordable premiums.”
Read the full state-by-state analysis of insurance providers here: The Cheapest (and Best) Home Insurance Companies in 2022 with customer reviews.
SOURCE Clearsurance.com
