Homeowner Insurance Rates Vary From State To State!
From state to state, home insurance prices fluctuate. When looking for homeowners insurance quotes, you must be prepared to provide certain pieces of information to get the lowest possible quote. Make sure you are using a company licensed to sell insurance within your state. Not everyone is!
Every state has a set list of insurance requirements. The amounts of coverage you are required to carry depend on where you live. Generally, you are required to carry dwelling coverage, personal property coverage, medical payment coverage, living expenses and personal liability.
A standard policy requires you to have a minimum $150,000 coverage for your dwelling and then $15,000 for attachments like garages. Personal property is generally set at $75,000. Personal liability is set at $100,000 per occurrence. Medical payments are $1,000 and living expenses are $30,000.
When applying for insurance, you need to give your ZIP Code. The state you live in helps determine your rates. Your proximity to a water source or fire hydrant also matters. In addition, if your town lacks a fire department, you are going to pay more.
Typically, when you call or email for rate quotes, you will be asked to provide the age of your house, dimensions, address, nearest fire department, roofing materials, heat source, add-ons like decks or garages, locations of fire detectors and extinguishers and mortgage information. Many states now require insurance companies to list whether they will cover mold damage or not; Arkansas, New York, North Carolina and Virginia are the only states to not specifically mention this.
Where You Live Determines Your Rates!
In states like California, where wildfires are common, homeowner insurance rates are much higher. In eastern coastal states, high winds are prevalent, so rates are higher because roof/shingle replacements are a typical concern. In tornado alley, central U.S., the higher risk of a tornado hitting your home will raise your insurance rates. Toxic mold and mildew is a concern in humid states like Florida, so insurance rates are higher.
Another thing to consider is the cost of building supplies. Areas in the northern states may pay more for shipping supplies because of the higher trucking cost for delivery. Higher lumber prices lead to higher insurance rates.
Generally, homeowners insurance quotes are highest for those living in Kansas, Louisiana, Texas, Alabama, Rhode Island, California, Florida, Mississippi, Washington, D.C. and Oklahoma. Meanwhile, people in Idaho, Utah, Oregon, Wisconsin, Delaware, Ohio, Washington, Maine, Iowa and New Mexico often have the lowest premiums. We highly suggest that you attempt to obtain at least three online insurance quotes! For information on insurance in Texas, click: minimum hurricane protection.
