Homeowners Insurance Calculator
Compare homeowners insurance costs between different properties and coverage options. Calculate how much you’ll spend on insurance and find the most economical coverage.
Step 1: Property Details
Understanding Insurance Costs
Your homeowners insurance cost depends on property value, location risk, construction type, and coverage level. Higher property values and riskier locations typically result in higher premiums.
Step 2: Coverage Details
About Coverage Amounts
Most lenders require coverage of at least 80% of your home’s replacement value. Higher coverage percentages protect you better but increase your premium.
Homeowners Insurance Cost Results
Estimated Annual Insurance Premium
Property Type Insurance Cost Comparison
| Property Type | Average Premium | Coverage Amount | Annual Cost | Cost per $1,000 |
|---|
Insurance Cost Breakdown
Insurance Cost Calculation Formula
Annual Premium = (Property Value × Coverage % × Rate per $1,000) + Additional Coverages
The insurance cost is calculated by determining the coverage amount, applying a rate based on location and property type, then adding costs for any additional coverages like flood or earthquake insurance.
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