Home Insurance Calculator: Estimate Your Costs

To estimate your home insurance premium, start by considering where you live and how much coverage you need.
Doug SiborMar 19, 2021

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Buying a home means you’re also buying something else: homeowners insurance. And while it isn’t your biggest expense, how much you pay for insurance will impact your .

The national is $1,631 a year, according to NerdWallet’s 2020 rate analysis. But the amount you pay can vary substantially depending on several factors. Here’s how to get a better idea of what your home insurance might cost.

Use the calculator below to get an average in your ZIP code, or follow the steps to estimate for yourself.

A typical policy includes six components, and the amount of coverage you want for each type will help determine your overall premium. The six types are:

Typically, you need enough dwelling coverage to pay the costs of completely rebuilding your home.

Several of the others may be calculated as a percentage of your dwelling coverage — generally 10% for other structures, 50% to 70% for personal property and 20% for additional living expenses. Liability coverage usually starts at $100,000 and can be higher depending on your needs. Medical payments coverage typically has a low limit, between $1,000 and $5,000.

Your is the amount you pay out of pocket for a covered claim before insurance kicks in. A typical homeowners insurance deductible ranges from $500 to $2,000.

The higher the deductible you set, the lower your premium.

Physical characteristics of your house, such as its age, the condition of the roof and compliance with current building codes, will all affect the cost of insurance. A swimming pool will likely require additional liability coverage.

Similarly, location can play an important role. Insurers may weigh factors such as the quality of local fire safety and the home’s proximity to the coast.

Standard home insurance policies do not cover damage from floods or earthquakes, but separate coverage may be available for these and other . If your home is at risk, you may want additional coverage.

Some insurers offer tools for estimating how much their home insurance will cost. These features typically use a limited set of information, but they will at least give a sense of your potential costs. You can also initiate a quote above.

NerdWallet offers a ZIP-code-based calculator to help you estimate your homeowners insurance premium. The sample homeowner is a nonsmoker with good credit living in a single-family, two-story home built in 1983. The hypothetical homeowner had a $1,000 deductible and the following coverage limits:

Methodology

NerdWallet averaged rates for 40-year-old men and women from a variety of insurance companies in every ZIP code across all 50 states and Washington, D.C. Sample homeowners were nonsmokers with good credit living in a single-family, two-story home built in 1983. They had a $1,000 deductible and the following coverage limits:

These are sample rates generated through Quadrant Information Services. Your own rates will be different.

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