- How much is homeowners insurance on a $400,000 house?
- Average home insurance on a $400,000 home, by state
- Homeowners insurance on a $400,000 home, by company
- Homeowners insurance on a $400,000 home, by liability level
- Homeowners insurance on a $400,000, by credit rating
- Shop around to save on home insurance
- Methodology
How much is homeowners insurance on a $400,000 house?
The average home insurance cost for a 400k house is $3,231 a year. The average home insurance cost varies not only based on the dwelling coverage, which is the replacement cost of the home, but also based on factors like the state where you live. Home insurance rates by state differ quite a bit.
How much is home insurance a month for a $400,000 house?
The average cost of home insurance per month for a $400k house is $269.
If you’re working out your monthly budget, it may be easier to see the average home insurance cost per month. Although the simple way to calculate your monthly home insurance cost is to take the annual costs shown above and divide them by 12, there may be fees added to your premiums when you pay monthly.
Many people pay their home insurance as part of their monthly mortgage payment; the mortgage company pays it annually from an escrow account and then charges you monthly.
Average home insurance on a $400,000 home, by state
Take a look at the average cost of home insurance for a $400K home by state, based on $400,000 of dwelling coverage, $300,000 of liability and a $1,000 deductible.
| State | $400,000 with a $1,000 deductible and $300,000 liability | Hurricane Deductible |
|---|---|---|
| Alaska | $2,064 | None |
| Alabama | $3,872 | 2% |
| Arkansas | $4,795 | None |
| Arizona | $3,063 | None |
| California | $1,772 | None |
| Colorado | $4,976 | None |
| Connecticut | $2,723 | 2% |
| Washington, D.C. | $1,703 | 2% |
| Delaware | $1,729 | 2% |
| Florida | $5,516 | 2% |
| Georgia | $2,882 | 2% |
| Hawaii | $791 | None |
| Iowa | $3,230 | None |
| Idaho | $2,449 | None |
| Illinois | $3,693 | None |
| Indiana | $3,720 | None |
| Kansas | $6,220 | None |
| Kentucky | $4,246 | None |
| Louisiana | $4,564 | 2% |
| Massachusetts | $1,998 | 2% |
| Maryland | $2,131 | 2% |
| Maine | $1,741 | 2% |
| Michigan | $3,063 | None |
| Minnesota | $2,999 | None |
| Missouri | $4,370 | None |
| Mississippi | $4,220 | 2% |
| Montana | $4,065 | None |
| North Carolina | $3,678 | 2% |
| North Dakota | $3,898 | None |
| Nebraska | $5,959 | None |
| New Hampshire | $1,488 | 2% |
| New Jersey | $1,894 | 2% |
| New Mexico | $3,489 | None |
| Nevada | $1,853 | None |
| New York | $2,349 | 2% |
| Ohio | $2,621 | None |
| Oklahoma | $7,294 | None |
| Oregon | $2,185 | None |
| Pennsylvania | $2,316 | 2% |
| Rhode Island | $2,381 | 2% |
| South Carolina | $3,335 | 2% |
| South Dakota | $4,275 | None |
| Tennessee | $3,768 | None |
| Texas | $4,744 | 2% |
| Utah | $2,161 | None |
| Virginia | $2,752 | 2% |
| Vermont | $1,555 | None |
| Washington | $2,017 | None |
| Wisconsin | $2,038 | None |
| West Virginia | $2,354 | None |
| Wyoming | $2,490 | None |
Homeowners insurance on a $400,000 home, by company
Based on a recent data analysis, Allstate offers the cheapest homeowners insurance at $2,470 a year for a $400K dwelling coverage without a hurricane deductible. However, American Family offers the cheapest home insurance at $1,497 per year for $400K dwelling coverage, along with a 2% hurricane deductible if you live in a hurricane-prone area.
Home insurance rates vary depending on the company you choose, along with other factors. What’s the cheapest home insurance company at $400,000 in dwelling coverage? Take a look at rates from some of the best home insurance companies below.
| Company Group | $400,000 with a $1,000 deductible and $300,000 liability and 2% hurricane | $400,000 with a $1,000 deductible $300,000 liability and None hurricane |
|---|---|---|
| Allstate | $2,517 | $2,470 |
| American Family | $1,497 | $3,035 |
| Auto-Owners | $2,218 | $2,616 |
| Farmers | $4,166 | $4,145 |
| Nationwide | $3,563 | $3,483 |
| Progressive | $3,863 | $3,952 |
| State Farm | $2,745 | $2,611 |
| Travelers | $3,772 | $4,495 |
| USAA | $2,943 | $3,002 |
Homeowners insurance on a $400,000 home, by liability level
The dwelling coverage amount has far more impact on your rates than how much liability you have, which is a good argument for increasing your home insurance liability limits. Take a look at the difference in rates with $100,000 or $300,000 in liability.
| State | $400,000 with a $1,000 deductible and $100,000 liability | $400,000 with a $1,000 deductible and $300,000 liability | Hurricane deductible |
|---|---|---|---|
| Alaska | $2,051 | $2,064 | None |
| Alabama | $3,852 | $3,872 | 2% |
| Arkansas | $4,787 | $4,795 | None |
| Arizona | $3,038 | $3,063 | None |
| California | $1,752 | $1,772 | None |
| Colorado | $4,976 | $4,976 | None |
| Connecticut | $2,695 | $2,723 | 2% |
| Washington, D.C. | $1,688 | $1,703 | 2% |
| Delaware | $1,709 | $1,729 | 2% |
| Florida | $5,520 | $5,516 | 2% |
| Georgia | $2,863 | $2,882 | 2% |
| Hawaii | $771 | $791 | None |
| Iowa | $3,217 | $3,230 | None |
| Idaho | $2,438 | $2,449 | None |
| Illinois | $3,672 | $3,693 | None |
| Indiana | $3,696 | $3,720 | None |
| Kansas | $6,201 | $6,220 | None |
| Kentucky | $4,232 | $4,246 | None |
| Louisiana | $4,546 | $4,564 | 2% |
| Massachusetts | $1,979 | $1,998 | 2% |
| Maryland | $2,123 | $2,131 | 2% |
| Maine | $1,724 | $1,741 | 2% |
| Michigan | $3,047 | $3,063 | None |
| Minnesota | $2,977 | $2,999 | None |
| Missouri | $4,354 | $4,370 | None |
| Mississippi | $4,207 | $4,220 | 2% |
| Montana | $4,039 | $4,065 | None |
| North Carolina | $3,670 | $3,678 | 2% |
| North Dakota | $3,885 | $3,898 | None |
| Nebraska | $5,942 | $5,959 | None |
| New Hampshire | $1,476 | $1,488 | 2% |
| New Jersey | $1,873 | $1,894 | 2% |
| New Mexico | $3,480 | $3,489 | None |
| Nevada | $1,827 | $1,853 | None |
| New York | $2,307 | $2,349 | 2% |
| Ohio | $2,603 | $2,621 | None |
| Oklahoma | $7,164 | $7,294 | None |
| Oregon | $2,170 | $2,185 | None |
| Pennsylvania | $2,286 | $2,316 | 2% |
| Rhode Island | $2,363 | $2,381 | 2% |
| South Carolina | $3,323 | $3,335 | 2% |
| South Dakota | $4,259 | $4,275 | None |
| Tennessee | $3,751 | $3,768 | None |
| Texas | $4,736 | $4,744 | 2% |
| Utah | $2,149 | $2,161 | None |
| Virginia | $2,738 | $2,752 | 2% |
| Vermont | $1,538 | $1,555 | None |
| Washington | $2,001 | $2,017 | None |
| Wisconsin | $2,023 | $2,038 | None |
| West Virginia | $2,324 | $2,354 | None |
| Wyoming | $2,478 | $2,490 | None |
Homeowners insurance on a $400,000, by credit rating
Your credit rating affects home insurance rates more than you’d think. There are only a handful of states where using credit isn’t allowed. Here’s a look at homeowners insurance premiums for a $400,000 policy by credit rating.
| Credit tier alignment level | $400,000 with a $1,000 deductible $300,000 liability and 2% hurricane | $400,000 with a $1,000 deductible and $300,000 liability and no hurricane |
|---|---|---|
| Excellent | $2,621 | $2,724 |
| Fair | $3,904 | $4,192 |
| Good | $3,233 | $3,433 |
| None | $2,051 | $1,893 |
| Poor | $5,537 | $5,763 |
Shop around to save on home insurance
The best way to get a good price on home insurance is to shop around and compare rates from as many companies as possible. Ask about home insurance discounts, including home and auto bundling, and other ways to save, but ensure you have the right amount of coverage.
While underinsured your home might save you money, it will cost a lot more if you have to file a claim.
Methodology
Insurance.com commissioned Quadrant Information Institute to get homeowners insurance rates for $400,000 in dwelling coverage, $300,000 in liability, a $1,000 deductible, and a 2% hurricane deductible in 20 states. To get these rates, we have compared 20,739,560 insurance quotes across 34,588 ZIP codes from 62 company groups. The rates are for comparison purposes only, your exact rates may vary.
