Average Homeowners Insurance Premiums Ranked By State, 2014 (1)

 

Rank (2) State Average premium Rank (2) State Average premium
1 Florida $2,055 27 Montana $1,003
2 Texas (3) 1,947 28 South Dakota 995
3 Louisiana 1,847 29 Illinois 987
4 Oklahoma 1,772 29 Alaska 976
5 Mississippi 1,447 31 California (4) 974
6 Kansas 1,431 32 Virginia  946
7 Rhode Island 1,398 33 Indiana 944
8 Alabama 1,340 34 Maryland 942
9 Connecticut 1,337 35 New Mexico 937
10 Massachusetts 1,314 36 New Hampshire 905
11 Colorado  1,273 37 Pennsylvania 893
12 New York 1,256 38 West Virginia 877
13 Arkansas 1,252 39 Michigan 865
14 South Carolina 1,240 40 Iowa 853
15 Nebraska 1,226 41 Vermont 844
16 Minnesota 1,219 42 Maine 811
17 Missouri 1,199 43 Ohio 797
18 D.C. 1,151 44 Arizona  765
19 Tennessee 1,139 45 Delaware 736
20 North Dakota 1,136 46 Nevada 704
21 New Jersey 1,092 47 Washington 695
22 Georgia 1,089 48 Wisconsin 686
23 North Carolina 1,056 49 Utah 634
24 Kentucky 1,023 50 Idaho 590
25 Wyoming 1,021 51 Oregon 574
26 Hawaii 1,018      
(1) Includes policies written by Florida Citizens Property Insurance Corp. and Louisiana Citizens Property Insurance Corp., Alabama Insurance Underwriting Association, Massachusetts Property Insurance Underwriting Association, Michigan Basic Property Insurance Association, Mississippi Windstorm Underwriting Association and Residential Property Insurance Underwriting Association, New Jersey Insurance Underwriting Association, North Carolina Joint Underwriting Association, Ohio Fair Plan Underwriting Association, Rhode Island Joint Reinsurance Association and South Carolina Wind and Hail Underwriting Association, and Virginia Property Insurance Association. Other southeastern states have wind pools in operation and their data may not be included in this chart. Based on the HO-3 homeowner package policy for owner-occupied dwellings, 1 to 4 family units. Provides all risks coverage (except those specifically excluded in the policy) on buildings and broad named-peril coverage on personal property, and is the most common package written. (2) States with the same premium receive the same rank. (3) The Texas Department of Insurance developed home insurance policy forms that are similar but not identical to the standard forms. In addition, due to the Texas Windstorm Association (which writes wind-only policies) classifying HO-1, 2 and 5 premiums as HO-3, the average premium for homeowners insurance is artificially high. (4) Data provided by the California Department of Insurance. Note: Average premium=Premiums/exposure per house years. A house year is equal to 365 days of insured coverage for a single dwelling. The NAIC does not rank state average expenditures and does not endorse any conclusions drawn from this data. Source: © 2017 National Association of Insurance Commissioners (NAIC). Reprinted with permission. Further reprint or distribution strictly prohibited without written permission of NAIC.