How Is the Cost of Home Insurance Determined?

September 27, 2023

I am planning to purchase home insurance for the first time, but I have no idea how much it will cost and how much of it I need. How do you determine the cost of your home insurance?

Your home insurance cost depends on location, credit score, type of coverage, and many more factors. For example, $250,000 homes typically pay $1,200 to $1,600 in annual premiums. The average cost of home insurance in the United States is $1,393. However, there is no universal formula for everyone, so we would recommend you to consult your insurer.

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