Where America Goes for Insurance Rate Information
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When you think of the most expensive places to insure a home, you might think of flood plains or earthquake zones. Contrary to popular belief, though, these two kinds of disasters take a backseat to two more common, less damaging threats: wind and hail. For homeowners who live in states where high wind speeds are common, insuring a home can be an expensive prospect. The cost will be especially steep for those who live in wood, rather than brick, homes and who live in high-density areas that do not have nearby construction materials. When combined with hail and wind, these factors are the main risks insurers consider when writing a home insurance policy.
The average cost to insure a home in 2003 in the United States was $668 per year. However, this varies immensely among states. For example, Idaho had average homeowners premiums of just $433, while Texas homeowners paid an average of $1,328. Here is a list of the ten most expensive states in which to insure a home:
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