How Is the Cost of Home Insurance Determined?

January 8, 2024

I am planning to purchase home insurance for the first time, but I have no idea how much it will cost and how much of it I need. How do you determine the cost of your home insurance?

Your home insurance cost depends on location, credit score, type of coverage, and many more factors. For example, $250,000 homes typically pay $1,200 to $1,600 in annual premiums. The average cost of home insurance in the United States is $1,393. However, there is no universal formula for everyone, so we would recommend you to consult your insurer.

How Is the Cost of Home Insurance Determined? 1

Oleksandr Rohovnin is a Content Marketer at and an expert contributor to CoverExplore. His passion is digital marketing, innovative technologies, tech industries, and – above all – distilling vast amounts of complex information into engrossing narratives anyone can relate to. At CoverExplore, Oleksandr stokes passion for auto insurance and the automotive industry in general in every story he curates.