- How much is homeowners insurance on a $400,000 house?
- Average homeowners 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 house by credit rating
- How do you determine the right coverage limits for a $400,000k home?
- What property features affect home insurance rates for a 400K home?
- How to save on homeowners insurance for a $400k home
- Methodology
- Home insurance FAQs
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.
Average homeowners 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 |
*Some state rates will vary based on the addition of a hurricane deductible and may be much higher when included.
Home insurance calculator
Average home insurance rates in FloridaMost & least expensive ZIP codes for homeowners insurance in Florida
Most expensive
| ZIP code | City | Highest rate |
|---|---|---|
| 33012 | Hialeah | $3,816 |
| 33016 | Hialeah | $3,813 |
| 33018 | Hialeah | $3,797 |
| 33013 | Hialeah | $3,788 |
Least expensive
| ZIP code | City | Lowest rate |
|---|---|---|
| 34609 | Spring Hill | $1,110 |
| 34613 | Brookridge | $1,114 |
| 34604 | Brooksville | $1,116 |
| 34601 | Brooksville | $1,132 |
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 | $400,000 with 1,000 deductible and $100,000 liability | $400,000 with 1,000 deductible and $300,000 liability |
|---|---|---|
| Allstate | $2,440 | $2,470 |
| American Family | $3,018 | $3,035 |
| Farmers | $4,110 | $4,143 |
| Nationwide | $3,455 | $3,483 |
| Progressive | $3,940 | $3,952 |
| State Farm | $2,567 | $2,611 |
| Travelers | $4,469 | $4,495 |
| USAA | $3,002 | $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 house 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 $100,000 liability | $400,000 with a $1,000 deductible $300,000 liability |
|---|---|---|
| Excellent | $2,823 | $2,840 |
| Fair | $4,784 | $4,813 |
| Good | $3,675 | $3,697 |
| None | $1,874 | $1,893 |
| Poor | $10,330 | $10,382 |
How do you determine the right coverage limits for a $400,000k home?
If you paid $400,000 for your home, that’s not necessarily the amount of home insurance coverage you need. To determine the right coverage limits, you will need to calculate the replacement cost of your home. That’s how much it would cost to rebuild the home, and may be more or less than the home’s market value.
Replacement cost is calculated by home insurance companies based on the square footage of your home, its age and all of the features of the home, including construction materials inside and out. If your home's replacement cost is $400,000, then that's the amount of coverage you need. In other words, if you bought a $400k house, that amount doesn't determine how much insurance you need.
You will also need to consider your personal property within the home. Personal property coverage is set as a percentage of your dwelling coverage, usually 50% to 70%, on standard homeowners insurance policies. However, it's important to carefully consider the value of your property and increase this coverage if needed. Be aware that this will increase your homeowners insurance costs.
What property features affect home insurance rates for a 400K home?
All of the features of your home affect home insurance rates. They contribute to the calculation of your home's replacement cost and will have already been considered if your homeowners insurance company says your replacement cost (dwelling coverage) is $400k.
However, there are some factors outside of the features that affect replacement cost that will also impact average home insurance costs. These include:
- Proximity to a fire station or hydrant
- Attractive nuisances like a pool or trampoline
- Risks on the property like brush, especially if you live in a high-risk area for wildfires
- Safety and security systems
How to save on homeowners insurance for a $400k home
The best way to get a good price on home insurance is to shop around and compare rates from as many companies as possible. Here are a few other tips for cheaper home insurance premiums:
- Ask about home insurance discounts
- Bundle your home and auto insurance
- Raise your deductible
Don't reduce your coverage to save money. 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.
Home insurance FAQs
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. Your monthly cost isn't always a direct division by 12 of the annual premium, however, since there may be fees for making payments or discounts for paying in full upfront.
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.
How much is homeowners insurance on a $400,000 house in Florida?
The average cost of a policy with $400,000 in dwelling coverage in Florida is $5,516. That’s with $300,000 in liability coverage, a $1,000 deductible and a 2% hurricane deductible.
How much is homeowners insurance on a $400,000 house in Texas?
The average cost of home insurance for a house with $400,000 in dwelling coverage in Texas is $4,744 a year. That's with $300,000 in liability coverage and deductibles of 2% of hurricanes and $1,000 for all other perils.
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