The cost of homeowners insurance varies surprising from one state to another. The average cost in Texas is nearly 4 times as much as average for Idaho. Thats a big deal that many people may not think of when looking at cost of living or moving from one region to another. The Insurance Information Institute lists the average cost of homeowners insurance by state for the year 2008. They got the information from the National Association of Insurance Commissioners.
Here is the list in alphabetical order :
| Alabama | $ 845 |
| Alaska | $ 856 |
| Arizona | $ 628 |
| Arkansas | $ 788 |
| California* | $ 911 |
| Colorado | $ 842 |
| Connecticut | $ 980 |
| Delaware | $ 535 |
| D.C. | $ 926 |
| Florida* | $ 1,390 |
| Georgia | $ 749 |
| Hawaii | $ 862 |
| Idaho | $ 387 |
| Illinois | $ 628 |
| Indiana | $ 658 |
| Iowa | $ 612 |
| Kansas | $ 916 |
| Kentucky | $ 601 |
| Louisiana | $ 1,155 |
| Maine | $ 572 |
| Maryland | $ 637 |
| Massachusetts | $ 1,026 |
| Michigan | $ 715 |
| Minnesota | $ 845 |
| Mississippi | $ 980 |
| Missouri | $ 788 |
| Montana | $ 721 |
| Nebraska | $ 814 |
| Nevada | $ 692 |
| New Hampshire | $ 647 |
| New Jersey | $ 691 |
| New Mexico | $ 703 |
| New York | $ 983 |
| North Carolina | $ 683 |
| North Dakota | $ 808 |
| Ohio | $ 565 |
| Oklahoma | $ 1,048 |
| Oregon | $ 439 |
| Pennsylvania | $ 586 |
| Rhode Island | $ 897 |
| South Carolina | $ 789 |
| South Dakota | $ 609 |
| Tennessee | $ 692 |
| Texas* | $ 1,460 |
| Utah | $ 432 |
| Vermont | $ 650 |
| Virginia | $ 604 |
| Washington | $ 471 |
| West Virginia | $ 638 |
| Wisconsin | $ 503 |
| Wyoming | $ 676 |
Source: © 2010 National Association of Insurance Commissioners (NAIC). Reprinted with permission. Further reprint or distribution strictly prohibited without written permission of NAIC.
Here is the list in rank order from least to most expensive :
| Idaho | $ 387 |
| Utah | $ 432 |
| Oregon | $ 439 |
| Washington | $ 471 |
| Wisconsin | $ 503 |
| Delaware | $ 535 |
| Ohio | $ 565 |
| Maine | $ 572 |
| Pennsylvania | $ 586 |
| Kentucky | $ 601 |
| Virginia | $ 604 |
| South Dakota | $ 609 |
| Iowa | $ 612 |
| Arizona | $ 628 |
| Illinois | $ 628 |
| Maryland | $ 637 |
| West Virginia | $ 638 |
| New Hampshire | $ 647 |
| Vermont | $ 650 |
| Indiana | $ 658 |
| Wyoming | $ 676 |
| North Carolina | $ 683 |
| New Jersey | $ 691 |
| Nevada | $ 692 |
| Tennessee | $ 692 |
| New Mexico | $ 703 |
| Michigan | $ 715 |
| Montana | $ 721 |
| Georgia | $ 749 |
| Arkansas | $ 788 |
| Missouri | $ 788 |
| South Carolina | $ 789 |
| North Dakota | $ 808 |
| Nebraska | $ 814 |
| Colorado | $ 842 |
| Alabama | $ 845 |
| Minnesota | $ 845 |
| Alaska | $ 856 |
| Hawaii | $ 862 |
| Rhode Island | $ 897 |
| California* | $ 911 |
| Kansas | $ 916 |
| D.C. | $ 926 |
| Connecticut | $ 980 |
| Mississippi | $ 980 |
| New York | $ 983 |
| Massachusetts | $ 1,026 |
| Oklahoma | $ 1,048 |
| Louisiana | $ 1,155 |
| Florida* | $ 1,390 |
| Texas* | $ 1,460 |
Source: © 2010 National Association of Insurance Commissioners (NAIC). Reprinted with permission. Further reprint or distribution strictly prohibited without written permission of NAIC.
The * for CA, FL & TX are because each of the figures from those states are due to slight differences in how the numbers are recorded or reported. So they are not a strict apples-to-apples comparison to other states.
Couple notes: ThesseMcMansion is much more expensive to insure than a modest starter home.
Now lets look at the data graphically.
Below is a map of the US showing each state with color code per the average insurance rates
Green = Under $600
Yellow = $600 to $900
Red = Over $900
Now you can see that there is a large difference between states in the amount that homeowners insurance costs. There are many reasons that insurance rates differ from state to state. I assume that the primarily difference in costs is due to differences in the frequency of natural disasters. Many of the things that insurance might pay for don't differ from state to state like fires or dog bites. You can also see the huge bills that insurance companies can see for significant disasters like hurricanes and floods. Other than natural disasters there can also be differences due to the average cost of housing. The average cost of insurance will naturally be higher in California than in Idaho if everything else is equal. Crime rates and government regulations can also impact the costs state by state.
Personally I live in a relatively low cost area for home insurance. The Northwest has few natural disasters except for an occasional volcanic eruption. Compare that to a state like Texas which can see hurricanes, tornadoes and hail storms.
How does your home owners insurance compare?
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