The average annual rate for home insurance comes in at just under $2,400, but in many parts of the country, what homeowners are paying exceeds that figure by far. Insurify lays out the damage, citing rates that rose an average of 20% over the past two years across America. Florida is by far the most expensive state when it comes to home insurance, with a staggering annual rate of $10,996. Compare that to Vermont, where homeowners have to fork over just an average $918. Money notes that the spike in home insurance rates "isn't over yet," with a projected average annual rate of $2,522, a 6% increase, for 2024. Read on for the most and least expensive states when it comes to insuring your home, along with the average annual rate for 2023:
Most expensive states
- Florida, $10,996
- Louisiana, $6,354
- Oklahoma, $5,444
- Texas, $4,456
- Mississippi, $4,312
- Colorado, $4,072
- Nebraska, $3,962
- Alabama, $3,939
- Kansas, $3,437
- Arkansas, $3,368
Least expensive states - Pennsylvania, $1,306
- New Jersey, $1,267
- Oregon, $1,232
- New Hampshire, $1,225
- Nevada, $1,224
- Delaware, $1,207
- Washington, DC, $1,203
- Hawaii, $1,150
- Alaska, $1,116
- Vermont, $918
Check out costs in other states
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