What Is the Average Homeowners Insurance?

What Is the Average Homeowners Insurance? thumbnail
Keys to information on home owner's insurance.

According to the Insurance Information Institute, home owners insurance policy premiums across the US ranged from $491 to $1,534 in 2009. This range comes about because of state regulations, environmental conditions and specifics about the dwelling itself.

  1. Significance

    • According to data from the 2009 National Association of Insurance Commissioners (NAIC), the average home owner's insurance policy premium was $822 in 2009. This data was gathered by averaging out all premiums and data for premiums and coverage selected on one to four-family housing units.

    Function

    • Home owner's insurance policies are designed to protect home owners against costly repairs, such as damage due to fire, flood or defects. However, home owner's insurance does not cover day-to-day maintenance items.

    Considerations

    • While the average policy in the United States is around $822 per year, premiums will vary from state to state. In 2009, the least-expensive policy was Idaho, coming in on an average of $422 annually. Rates are based on environmental conditions, crime rates and number of claims in the past several years.

Related Searches:

References

  • Photo Credit keys image by Horticulture from Fotolia.com

Comments

You May Also Like

Related Ads

Featured