How much does homeowner insurance usually cost?

[HoosOnline]

how much does homeowners insurance usually cost?

 

[RossMAN]

Depends on a lot of factors, here it's around $300, maybe $400 with earthquake coverage.

Contact your insurance agent and request a quote, shocking I know

 

[HoosOnline]

i know it depends on a lot of factors but was wondering if it is as expensive as auto insurance. Say for a $200K home, how much would it come up to annually?

 

[Cyberian]

Like Rossman said, it depends on the location and also on the value of the home.

 

[FrustratedUser]

I'm kind of interested in that too.
Let's say a 200k home in a 50k - 100k population city in VA.

 

[Vic]

The cost of homeowners insurance varies greatly by location (state, city, proximity to fire station or fire hydrant, urban, rural, etc.), value of home, whether or not there is any business use of the home, types of coverage provided (earthquake, flood, slide, deductible amount, replacement value, etc.), and individual homeowner risk (prior claims, history -- or lack -- of homeownership, credit, etc.). It can be a lot like car insurance sometimes (edit: but rarely as expensive).

Call your agent to get a quote.

edit: I think homeowners insurance is a great deal. Just think: for roughly $500/yr., they'll replace your $250k house if it ever burns down. Or pay that $1M frivilous lawsuit to the neighbor kid who slipped on your sidewalk. You just can't beat that.

 

[tm37]

mine is 340 a year

folks pay over 1K

it varies

 

[HoosOnline]

would have called an agent but don't have a home to start with Just got curious as to home insurance rates after watching the local news broadcast which said they are up 8% this year.

 

[HoosOnline]

I know property tax is tax deductable. Is home insurance tax deductable?

 

[kranky]

Home insurance is not deductible.

Rates have been skyrocketing in many locations. Ours went up 30% last year. Never had a single claim!

 

[TEEZLE]

In MAryland my townhome insurance costs $400. My parents with their 6400 sq. ft house also pays the same amount. The insurance does not include flood protection (which would be an extra $130)

 

[Vic]

Originally posted by: TEEZLE
In MAryland my townhome insurance costs $400. My parents with their 6400 sq. ft house also pays the same amount. The insurance does not include flood protection (which would be an extra $130)

I think you might be mistaken about that. Flood insurance is not a choice. Either you live in a FEMA designated flood zone, and HAVE to get flood insurance, or you don't and can't get flood insurance.

Reminds me of a local TV news segment I saw a few years back about a neighborhood where some homes were damaged from a broken water main. The reporter stupidly lamented that none of the homeowners had flood insurance.

Flood pays for floods, not broken water mains!

 

[TEEZLE]

Originally posted by: Vic

Originally posted by: TEEZLE
In MAryland my townhome insurance costs $400. My parents with their 6400 sq. ft house also pays the same amount. The insurance does not include flood protection (which would be an extra $130)

I think you might be mistaken about that. Flood insurance is not a choice. Either you live in a FEMA designated flood zone, and HAVE to get flood insurance, or you don't and can't get flood insurance.

Reminds me of a local TV news segment I saw a few years back about a neighborhood where some homes were damaged from a broken water main. The reporter stupidly lamented that none of the homeowners had flood insurance.

Flood pays for floods, not broken water mains!

No I am not mistaken. I had a small leak in one of my foundation "bricks". When they came by they said I didn't have the flood protection because it was considered flood because of the "water penetration" through the foundation!! Believe me I tried to get around it but ended up taking half the drywall out and fixing it myself!!!

EDIT: I may have used the wrong term, it was called Flood Protection.

 

[GtPrOjEcTX]

hmm, very interesting as I am actively looking for homeowners insurance. I've only gotton one quote...~$780 a year for a $90K home in southern Indiana. seemed a bit high to be, but my fiance's parents are paying more than that for roughly same size house, in same general area.

 

[Ameesh]

Originally posted by: HoosOnline
i know it depends on a lot of factors but was wondering if it is as expensive as auto insurance. Say for a $200K home, how much would it come up to annually?

i have a 300K home and i pay $600 for a year including earthquake.

it really depnds on your coverage and such and where you live. just call an insurance broker, they will be able to fiund you a good rate.

 

[DT4K]

Mine is about $350 a year on a brand new 150k home in Southern Oregon.

 

[kt]

Mine shot up from ~$450 to $550 this year. I didn't as much as call them for anything.