- How much is homeowners insurance for a $200,000 house?
- Average cost of homeowners insurance on a $200,000 home by state
- What are the five cheapest states for homeowners insurance on a $200,000 home?
- How much is home insurance on a $200,000 house per month?
- Homeowners insurance on a $200,000 home by liability level
- Homeowners insurance on a $200,000 by credit rating
- How to save on home insurance rates on a $200,000 home
- Homeowners insurance on a $200,000 home: FAQ
How much is homeowners insurance for a $200,000 house?
Typically, homeowners pay an annual average of $2,005 or $167 per month for homeowners insurance on a $200,000 house.
Erie Insurance has the lowest rates at the $200,000 dwelling coverage level at $1,583, but it's not available everywhere. The cheapest national insurance company is State Farm at $1,693 annually. Travelers has the highest average rates at $3,419. These rates will be impacted by where you live and other factors.
| Company | $200,000 with $1,000 Deductible and $300,000 Liability |
|---|---|
| Erie Insurance | $1,583 |
| State Farm | $1,693 |
| Allstate | $1,740 |
| Auto-Owners | $1,741 |
| USAA | $1,921 |
| American Family | $1,976 |
| Nationwide | $2,028 |
| Farmers | $2,351 |
| Progressive | $2,438 |
| Travelers | $3,419 |
Average cost of homeowners insurance on a $200,000 home by state
Average house insurance cost varies not only based on the replacement cost of the home but also based on other factors like where the house is located; home insurance rates vary by state.
Below, you’ll find the average cost of home insurance for a $200k house by state. These rates are based on coverage limits of $200,000 for the dwelling $300,000 of liability and a $1,000 deductible.
| State | $200,000 with $1,000 deductible and $100,000 liability |
|---|---|
| Alaska | $1,342 |
| Alabama | $2,378 |
| Arkansas | $3,323 |
| Arizona | $1,887 |
| California | $1,026 |
| Colorado | $3,158 |
| Connecticut | $1,725 |
| Washington, D.C. | $970 |
| Delaware | $1,061 |
| Florida | $3,754 |
| Georgia | $1,747 |
| Hawaii | $441 |
| Iowa | $2,011 |
| Idaho | $1,466 |
| Illinois | $2,406 |
| Indiana | $2,293 |
| Kansas | $3,624 |
| Kentucky | $2,476 |
| Louisiana | $2,805 |
| Massachusetts | $1,286 |
| Maryland | $1,311 |
| Maine | $1,005 |
| Michigan | $1,809 |
| Minnesota | $1,808 |
| Missouri | $2,625 |
| Mississippi | $2,635 |
| Montana | $2,506 |
| North Carolina | $2,133 |
| North Dakota | $2,418 |
| Nebraska | $3,801 |
| New Hampshire | $937 |
| New Jersey | $1,151 |
| New Mexico | $1,820 |
| Nevada | $1,072 |
| New York | $1,305 |
| Ohio | $1,790 |
| Oklahoma | $4,356 |
| Oregon | $1,334 |
| Pennsylvania | $1,455 |
| Rhode Island | $1,489 |
| South Carolina | $2,050 |
| South Dakota | $2,593 |
| Tennessee | $2,356 |
| Texas | $2,944 |
| Utah | $1,407 |
| Virginia | $1,630 |
| Vermont | $958 |
| Washington | $1,247 |
| Wisconsin | $1,262 |
| West Virginia | $1,443 |
| Wyoming | $1,339 |
*Some state rates will vary based on the addition of a hurricane deductible and may be much higher when included.
What are the five cheapest states for homeowners insurance on a $200,000 home?
The five cheapest states to insure a home at $200,000 in dwelling coverage are:
- Hawaii: $461 a year, $1,544 below average
- New Hampshire: $948 a year, $1,057 below average
- Vermont: $974 a year, $1,031 below average
- Maine: $1,021 a year, $984 below average
- California: $1,043 a year, $962 below average
Washington, D.C., although not a state, is also among the cheapest. See each state's average annual premium
It's worth noting that home insurance costs less in these states overall, so homeowners insurance premiums there are generally affordable at any coverage level. That's a large part of why homeowners insurance on a $200k home is cheaper in these states.
People ask
How does adding additional coverage affect home insurance rates for a $200k house?
Any additional coverage you add to your policy will come with an additional premium; how much depends on the type and amount of the coverage.
How much is home insurance on a $200,000 house per month?
Based on the average annual rate of $2,005, the average cost of insurance per month for a $200k home is $167.
To figure out your monthly budget, knowing the average home insurance cost per month is helpful. The easiest way to calculate your monthly home insurance cost is to divide the annual costs shown above by 12; however, there may be fees added to your premiums when you pay monthly.
It’s common to pay for your home insurance as part of your monthly mortgage payment. The mortgage company pays it annually from an escrow account and then charges you each month.
Homeowners insurance on a $200,000 home by liability level
The amount of your dwelling coverage impacts on your rates more than how much liability you have, which means increasing your homeowners liability limits is a cheap way to get a lot more coverage. Take a look at the difference in rates with $100,000 or $300,000 in liability.
| State | $200,000 with $1,000 deductible and $100,000 liability | $200,000 with $1,000 deductible and $300,000 liability |
|---|---|---|
| Alaska | $1,342 | $1,355 |
| Alabama | $2,378 | $2,391 |
| Arkansas | $3,323 | $3,328 |
| Arizona | $1,887 | $1,906 |
| California | $1,026 | $1,043 |
| Colorado | $3,158 | $3,169 |
| Connecticut | $1,725 | $1,750 |
| Washington, D.C. | $970 | $984 |
| Delaware | $1,061 | $1,078 |
| Florida | $3,754 | $3,773 |
| Georgia | $1,747 | $1,760 |
| Hawaii | $441 | $461 |
| Iowa | $2,011 | $2,022 |
| Idaho | $1,466 | $1,476 |
| Illinois | $2,406 | $2,423 |
| Indiana | $2,293 | $2,313 |
| Kansas | $3,624 | $3,638 |
| Kentucky | $2,476 | $2,486 |
| Louisiana | $2,805 | $2,822 |
| Massachusetts | $1,286 | $1,303 |
| Maryland | $1,311 | $1,318 |
| Maine | $1,005 | $1,021 |
| Michigan | $1,809 | $1,825 |
| Minnesota | $1,808 | $1,828 |
| Missouri | $2,625 | $2,638 |
| Mississippi | $2,635 | $2,646 |
| Montana | $2,506 | $2,523 |
| North Carolina | $2,133 | $2,141 |
| North Dakota | $2,418 | $2,431 |
| Nebraska | $3,801 | $3,809 |
| New Hampshire | $937 | $948 |
| New Jersey | $1,151 | $1,171 |
| New Mexico | $1,820 | $1,829 |
| Nevada | $1,072 | $1,093 |
| New York | $1,305 | $1,340 |
| Ohio | $1,790 | $1,805 |
| Oklahoma | $4,356 | $4,442 |
| Oregon | $1,334 | $1,347 |
| Pennsylvania | $1,455 | $1,475 |
| Rhode Island | $1,489 | $1,505 |
| South Carolina | $2,050 | $2,061 |
| South Dakota | $2,593 | $2,607 |
| Tennessee | $2,356 | $2,369 |
| Texas | $2,944 | $2,951 |
| Utah | $1,407 | $1,416 |
| Virginia | $1,630 | $1,645 |
| Vermont | $958 | $974 |
| Washington | $1,247 | $1,260 |
| Wisconsin | $1,262 | $1,274 |
| West Virginia | $1,443 | $1,465 |
| Wyoming | $1,339 | $1,351 |
Homeowners insurance on a $200,000 by credit rating
Homeowners with excellent credit will pay, on average, $1,668 a year, or $2,215 less than those with poor credit. Your credit history affects your home insurance rates in most states. Here’s a look at homeowners insurance premiums for a $200,000 policy for scores ranging from poor to excellent credit.
| Credit tier alignment level | $200,000 with $1,000 deductible and $300,000 liability |
|---|---|
| Excellent | $1,668 |
| Fair | $2,618 |
| Good | $2,132 |
| Poor | $3,833 |
How to save on home insurance rates on a $200,000 home
To get the best price on your home insurance:
- Shop around. The best way to save is to compare rates from as many companies as you can.
- Ask about homeowners insurance discounts
- Consider a home and auto bundle to reduce your rates.
- Increase your deductible. A higher deductible means lower rates, but make sure you can afford it.
It’s vital when looking for ways to save that you don’t underinsure your home. If something goes wrong, the out-of-pocket costs will be much higher than what you would have paid in premiums.
Homeowners insurance on a $200,000 home: FAQ
Is homeowners insurance required for a $200,000 home?
Homeowners insurance is not required by law in any state, but your mortgage company will require it regardless of the value of your home.
How much dwelling coverage do I need for a $200,000 house?
You need enough dwelling coverage to cover the replacement cost value of your home. This is based on what it would cost to rebuild the home, and not on the market value.
Helpful home insurance tools and calculators
