Go To Top

Home insurance calculator for 2022

John McCormickReviewed By John McCormick quality verified  
Posted :
Home Insurance Calculator

Your home is your biggest investment, and home insurance is designed to protect it. The average cost of a homeowners insurance policy is $2,779 a year, based on Insurance.com’s most recent data. How much you pay for home insurance depends on a lot of factors, including the size, age, and location of your home. It’s easy to compare rates with our home insurance calculator. Just enter your ZIP code and a few coverage basic to see homeowners insurance quotes for your home.

There are three major parts of a home insurance policy that you need to consider before you request quotes.

Dwelling coverage

Your dwelling coverage amount is the amount that would be required to rebuild your home from the ground up. It’s also called replacement cost, and it’s different from your home’s market value.

There are a few ways to calculate home replacement cost, including online calculators or hiring an appraiser to do it for you. While insurance companies will calculate it for you, it’s good to have your own numbers to make sure you’re properly insured.

Liability coverage

Liability insurance provides a financial safety net for the household. It pays out when you and your family members are legally responsible for others’ injuries or property damage. It also covers:

  • Medical expenses of people who are hurt while in your home or on your property
  • Damage caused to neighbors’ property, for example, if a tree falls
  • Legal fees if you are sued
  • Judgments resulting from a lawsuit, up to your policy limits.

Experts recommend $300,000 in liability coverage, but if you have a lot of assets you should consider a higher limit.

Personal property

The other critical coverage is for your belongings or personal property coverage. It's important to make an inventory of all the items you own so that you can determine how much personal property coverage you need.

Personal property coverage is typically 50% to 70% of your dwelling coverage limits. However, if you have valuable items, such as fine art, high-priced instruments, or expensive jewelry, you may need an endorsement to cover them in full. It’s also important to make sure you have replacement cost coverage for your personal property, rather than actual cash value. This ensures you’re covered for how much it would cost to replace each item rather than for the depreciated value.

Other home insurance coverage

Your home insurance policy will also include several other coverages. These are the common standard coverages:

  • Loss of use. Pays for living expenses elsewhere during repairs from a covered claim, and is usually 20% of the dwelling coverage.
  • Other structures. Covers separate buildings like garages or sheds, usually at 10% of the dwelling coverage.
  • Medical payments. Pays medical bills for injuries on your property.

You may have options to adjust the amount of coverage for each of these, and may also be offered a wide range of optional add-ons for your policy. It’s best to take the time to consider each option

Start using home insurance calculator

Home insurance rates will vary by company, so it’s important to know how to compare them.

  1. Make sure you know how much coverage you need and choose a deductible.
  2. Compare quotes apples-to-apples with the same coverage levels.
  3. Note any added perks that are included at no extra charge from each insurance company.
  4. Research each company you’re considering to check its reputation for financial stability, customer service, and claims satisfaction.
  5. Choose the company with the best combination of price, coverage, and reputation.

A home insurance calculator is a good way to get started on your home insurance shopping.

Exactly what you pay for home insurance depends on how much coverage you buy, your homeowner profile and other factors.

Insurance companies take these things into account to calculate home insurance cost:

  • The location of your home
  • The age and size of your home
  • The building materials used to construct the home
  • The number and severity of claims in your neighborhood
  • Your credit history
  • Your marital status
  • Risks like a trampoline, pool, or certain breed of dog
  • The claims history of the home
  • The frequency of severe weather and natural disasters in your area

HOME INSURANCE CALCULATOR

Average home insurance rates in CALIFORNIA

$200,000
$1,000
$100,000
94404 - Foster City
Dwelling $200,000, Deductible $1,000 and Liability $100,000.

AVERAGE RATE: $669

HIGHEST RATE: $1,029 LOWEST RATE: $443

Most & least expensive zip codes for homeowners insurance in California

Most Expensive

Zip CodeCityHighest Rate
92561Mountain Center$1,031
90210Beverly Hills$1,029
90069Los Angeles$1,020
90046Los Angeles$1,011

Least Expensive

Zip CodeCityLowest Rate
93445Oceano$606
93117Goleta$607
93111Goleta$610
93433Grover Beach$615

Frequently asked questions

  • How much should I expect to pay for homeowners insurance?

    Home insurance premiums vary based on location, claims history, risk and even your credit history. You’ll pay more for home insurance if you’re in an area with higher claims. That may be a region with severe weather, such as hurricanes or tornadoes. It could also be an area with many break-ins and fires. You can get an estimate of your home insurance rates by looking at the average home insurance rates for common coverage levels below (rates are with a $1,000 deductible).

    Average rateDwelling coverageLiability
    $2,219$200,000$100,000
    $2,233$200,000$300,000
    $2,763$300,000$100,000
    $2,779$300,000$300,000
    $3,215$400,000$100,000
    $3,231$400,000$300,000
    $3,580$500,000$100,000
    $3,595$500,000$300,000
    $3,825$600,000$100,000
    $3,841$600,000$300,000
  • Why is my homeowners insurance quote so high?

    While each homeowner’s particular situation is unique, the following factors can increase home insurance quotes significantly:

    • You live in an area prone to severe storms (hurricanes, tornadoes, hailstorms)
    • You live near the water
    • There is a history of claims on the house you own
    • Your home or roof is more than 20 years old
    • You have bad credit
    • You have a pool, trampoline wood stove or a certain breed of dog
    • You don’t live near a fire station
  • How can I lower my homeowners insurance rate?

    The best ways to lower your home insurance rate is by:

    • Comparison shopping: No two insurers will price a policy the same way because they assess risk differently and use their own formulas for deciding what you pay. You should compare quotes from at least three insurance companies once a year to be sure you are getting the coverage you want at the best price.
    • Maintain good credit: In nearly all states (Massachusetts, California, Hawaii and Washington are the exceptions) insurance companies are allowed to use your credit history when setting your rate. If you have good or excellent credit, you will pay much less.
    • Apply for discounts: Home insurance discounts can net you savings. But you may need to ask for them. While some discounts rely on factors that are out of your control to a degree, others are up to you. For instance, you can bundle your auto and home insurance, sign up for automatic online billing, or install security and safety systems.

Home Insurance Calculator by Zip Code

While the average cost of homeowners insurance is $2,779 a year, how much you’ll pay depends on factors like where the home is located, its size, and construction costs. Comparing rates from multiple companies is the best way to save.

Condo Insurance Calculator by Zip Code

The average condo insurance cost varies based on coverage level and where you live. Condo (HO-6) insurance covers everything your condo association doesn’t, including your personal property and liability.

Renters Insurance Calculator by Zip Code

The average cost of renters insurance is $29 a month or about $347 a year. Renter’s insurance protects your personal property and provides liability coverage to you as a tenant at an affordable rate.