Average Cost of Homeowners Insurance
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How Much is Homeowners Insurance?

Average Cost of Homeowners Insurance

You bought a new house and are trying to get a handle on your monthly expenses, one of the most important being your homeowners insurance. Determining the average cost of homeowners insurance depends on a wide variety of factors. For instance, did you know that owning a specific breed of dog can impact your homeowners insurance cost? 

Let’s take a look at some of the factors that determine how your homeowners insurance is calculated – and what you can expect.

1. Insurance and claims history

The following are some of the factors taken into account when determining your homeowners premium:

2. Qualities of your new house 

Your premium also depends on the type of home you own, including:

3. The location of your home

One of the biggest impacts on your homeowners insurance cost is where you live. If you reside in an area prone to hurricanes or earthquakes, for instance, you generally will need additional coverage – which will likely impact your rate. 

In addition to your region, the physical location of your house matters too. Being close to a police or fire station are contributing factors, as well as living in a neighborhood that experiences a high number of burglaries.

Remember, dependable homeowners insurance shouldn’t have to strain your budget. There are plenty of opportunities to save, such as bundling your auto and homeowners policies. Take a look at some of the discounts Nationwide has to offer

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