Average Cost of Homeowner's Insurance for a home..?

Question

that is appraised at 169,000 and bought for 166,000?

Answer 1

There's no average.  If you're in FL, the smallest house will cost more than a big house in the midwest.

It's not even based on how much the house cost you, so that part isn't particularly relevant.    It IS based on age, construction, loss history, credit score, cost to rebuild, updates, and endorsements.

Answer 2

It'll depend on where you live and what coverage you have, and what company you go with.  Look into replacement coverage - it's not a lot more than coverage for current value, and if you ever have a major loss, will save you a ton.

At a guess, it might be around $500, more or less.

Answer 3

It depends where you live, what you need covered, the material the home is made from, the age of it etc etc.

There are lots of online companies that will give you a quote.

Answer 4

There are a lot of factors to consider. How much are you insuring it for? What is your contents coverage going to be? What about your deductible? Are you going to have any additional riders? What state do you live in? Is it a high prone hazard area? You really need to talk to an agent

In Louisiana, the only insurance company we have right now is Citizens, which not only bites, but is the most expensive. A builder's risk policy for 200,000 and no contents cost 3,400 and that was last year. They just raised their rates again, so it is going to be astronomical now!

To give you an idea, a homeowner's policy for $150,000 with $75,000 in contents coverage with no rider could run you between $1,000 and $1,500, but that is just a guess.

Answer 5

You just asked a VERY broad question. It depends where you live. (i.e. near the beach, in a flood zone area, etc). If your area has high crime, what is your credit rating, how much endorsements to you want to add to your policy such has jewlery/fur, back up sewer & drain, etc. If you want a flat deductible such as $500 or $1000 or a percent % deductible for property losses. You need to talk to an insurance agent.