Homeowners Insurance Rates

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How Much Does Homeowners Insurance Cost?

When it comes to homeowners insurance, there’s no one-size-fits-all pricing. Rates can vary on a number of factors, but having homeowners insurance is important because it can help cover the costs if your home or personal belongings are damaged from a covered incident. To determine rates, insurance companies will often look at your:
 
  • Home’s replacement cost: The more your home costs to replace after a covered loss, the higher your homeowners insurance rate will be. It’s important to insure your home for the right amount, because if your homeowners insurance policy doesn’t cover the entire cost to rebuild your home, you would be responsible for paying the difference.
  • Home’s age: If your home is older, it may increase the rate of your homeowners insurance policy. Generally, the older the home is, the more difficult and costly it can be to rebuild it if it were lost in a covered incident.
  • Home’s location: If your home is next to a body of water, it could increase your homeowner’s insurance rate because of the higher risk of flooding. If your house is near a fire department, it could lower the cost of your homeowner’s insurance policy because your insurance company may see your house as safer and easier to protect from a fire than a home that’s farther from a station.
  • Dogs: If you’re a dog owner, your pet’s breed can have an impact on your homeowners insurance rate. Dog breeds that are considered risky and more prone to bite often lead to higher insurance rates.
  • Claims history: If you’ve had a number of claims submitted, it can increase your homeowners insurance cost.
A homeowner’s insurance policy is there when the unexpected strikes, helping cover the costs if your home or personal belongings are damaged from a covered incident. For covered losses, you have protection if you are found responsible for any injury to someone or property damage.
 
When deciding on a plan for your property, it’s important to remember that not all homeowners insurance policies are the same. At The Hartford, our home insurance program is endorsed by AARP® and we pride ourselves on helping homeowners determine the coverage they need to make sure their homes are protected. The Hartford doesn’t just help secure your home, but can also help you save money. Get your quote today.
 

How to Determine Your Homeowners Insurance Rate

Homeowner’s Insurance Cost From location and rebuilding costs to the type of dog you have, a few different elements will determine your homeowners insurance rate.
 
You want to avoid underinsuring your home. If this happens and you need to rebuild, your homeowners insurance policy won’t help cover the entire cost. To make sure you have the right amount of coverage, start by figuring out how much it would cost to completely rebuild your home if it were destroyed in a storm. Remember to factor in the labor costs with the total cost of the home.
 
Where you live also impacts your rate. A quote for a homeowners insurance policy could change depending on your home’s location. For example, in 2018 the average annual cost of homeowners insurance in Alabama was $1,409, but in Idaho, the average annual cost was $772.2
 

Why Do Some States Have Higher Rates Than Others?

Homeowners insurance rates can be affected by localized factors. If you live in a state that is more susceptible to storms or natural disasters, your homeowners insurance rate may be higher. That’s because your home is more at risk of being damaged. If you’re in an area more susceptible to flooding, storms or natural disasters, that is factored into your rate, as well as labor costs in the area.
 
  • Location: If you live near a coastline or a large body of water, your house has more risk of flood damage than a home that was built more inland. And if you live in a state that is more prone to natural disasters, your homeowners insurance rate may be higher than a home in a state that rarely sees tornadoes or hurricanes. For example, a person living in California may have a higher homeowners insurance rate than a person living in Pennsylvania because the state they live in is more prone to wildfires.
  • Labor and Construction: When you take out a homeowners insurance policy, you’ll have to factor in the cost to rebuild your home if it’s completely destroyed in a covered event. When you’re trying to determine this amount, it’s important to think about labor and construction costs. If the state or area you live in has high construction costs, this could end up increasing your homeowners insurance rate. Or, if your area offers lower construction costs, your insurance rate could decrease.
  • Regulations: Each state has its own unique building codes and regulations. If you live in a home that was built before the regulations were passed, it’s likely your home doesn’t conform to all of the building codes and regulations. If the house is destroyed, you may have to rebuild it to meet the newer regulations, which could be more expensive.
We’re here to help you determine the coverage you need. Our specialists at The Hartford can answer your questions and get you the homeowners insurance policy that fits your home best.
 

Save on Homeowners Insurance Rates

Although there are numerous factors that can impact your homeowners insurance rate, there are also a variety of things that can help you save on your policy, including:
 
  • Roof age: Your roof protects you and your family from all sorts of weather. Depending on what it’s made of and how old it is, it could also save you some money on your premium. You may see some homeowners insurance rate savings if your roof is made of a material that is durable and resistant to fire and rotting.
  • Claims: If you have a clean claims history, your insurance rate may decrease. To an insurer, a clean claims history means you and your home are safe and protected. If you haven’t filed a claim in a certain time period, you may receive a discount on your premium. (Availability varies by state.)
  • Credit score: In some states, insurers can look at your credit score when providing you with an insurance policy. If you have a higher credit score, you may receive a discount on your homeowners insurance rate.
  • Types of coverage: If you bundle your home and auto coverage with The Hartford, you can save up to 5% on your auto insurance and 20% on home/condo/renters insurance.**
  • Renewal Credit: Keeping your homeowner’s insurance policy with us for four years means you’ll save on your premium. (Availability varies by state.)
  • Deductible: The amount you choose for your deductible on your homeowners insurance policy affects your rate. If you choose a higher deductible, you may receive a reduced premium cost.

How Do I Learn More About Homeowners Insurance Rates From The Hartford?

The AARP® Homeowners Insurance Program from The Hartford1 gives you an opportunity to customize how you protect your home. We’re flexible and we’ll help you choose the right coverage.
 
Getting a homeowners insurance quote from The Hartford is quick and easy, you just need to have some information about your home handy. Be sure to know the address and details on whether there have been any incidents at the home, or if it’s currently insured.
 
When you’re ready to start, get an online quote. If you have any questions about your quote or if you’d rather speak to a representative, call us at 888-413-8970 to discuss your homeowners insurance policy options.
 
 
** Automobile/Homeowners discount is available only to policyholders who have both their auto and home (or condo or renters) insurance through the AARP Auto & Home Insurance Programs from The Hartford.
Summaries of coverages and policy features are for informational purposes only. In the event of loss, the actual terms and conditions set forth in your policy will determine your coverage.

AARP and its affiliates are not insurers. Paid endorsement. The Hartford pays royalty fees to AARP for the use of its intellectual property. These fees are used for the general purposes of AARP. AARP membership is required for Program eligibility in most states.

The AARP Automobile Insurance Program from The Hartford is underwritten by Hartford Fire Insurance Company and its affiliates, One Hartford Plaza, Hartford, CT 06155. It is underwritten in AZ by Hartford Insurance Company of the Southeast; in CA by Hartford Underwriters Insurance Company; in WA, by Hartford Casualty Insurance Company; in MN, by Sentinel Insurance Company; and in MA, MI and PA, by Trumbull Insurance Company. The AARP Homeowners Insurance Program from The Hartford is underwritten by Hartford Fire Insurance Company and its affiliates, One Hartford Plaza, Hartford, CT 06155. It is underwritten in AZ by Hartford Insurance Company of the Southeast; in CA by Property and Casualty Insurance Company of Hartford; in WA, MI and MN, by Trumbull Insurance Company; in MA, by Trumbull Insurance Company, Sentinel Insurance Company, Hartford Insurance Company of the Midwest, and Hartford Accident and Indemnity Company; and in PA, by Hartford Underwriters Insurance Company. Not available in all states, including FL. Specific features, credits and discounts may vary and may not be available in all states in accordance with state filings and applicable law. Applicants are individually underwritten and some may not qualify. The Program is currently unavailable in Canada and U.S. Territories or possessions.

1 In Texas, the Auto Program is underwritten by GEICO Texas County Mutual Insurance Company through Hartford Fire General Agency. Hartford Fire Insurance Company and its affiliates are not financially responsible for insurance products underwritten and issued by GEICO Texas County Mutual Insurance Company. The Home Program is underwritten by Trumbull Insurance Company. Effective 10/16/21, the Auto Program is underwritten by Trumbull Insurance Company.

* Customer reviews are collected and tabulated by The Hartford and not representative of all customers.