States with the least affordable homeowners insurance
Alice Roden
Colorado
Insurance cost for homes with $300K coverage: $3,308
Cost compared to national average: +87%
Increase in average insurance rate from 2022 to 2023: 12%
Photo: Joseph Sohm/Shutterstock
New York
Insurance cost for homes with $300K coverage: $1,942
Cost compared to national average: +10%
Increase in average insurance rate from 2022 to 2023: 14%
Photo: Sean Pavone/Adobe Stock
Massachusetts
Insurance cost for homes with $300K coverage: $1,649
Cost compared to national average: -7%
Increase in average insurance rate from 2022 to 2023: 14%
Photo: Sean Pavone/Shutterstock.com
Nebraska
Insurance cost for homes with $300K coverage: $3,519
Cost compared to national average: +99%
Increase in average insurance rate from 2022 to 2023: 14%
Photo: Box Lab/Shutterstock.com
Georgia
Insurance cost for homes with $300K coverage: $2,173
Cost compared to national average: +23%
Increase in average insurance rate from 2022 to 2023: 17%
Photo: Kevin Ruck/Adobe Stock
Kansas
Insurance cost for homes with $300K coverage: $3,245
Cost compared to national average: +83%
Increase in average insurance rate from 2022 to 2023: 19%
Photo: Joseph Sohm/Shutterstock.com
Texas
Insurance cost for homes with $300K coverage: $3,969
Cost compared to national average: +124%
Increase in average insurance rate from 2022 to 2023: 18%
Photo: Raymond/Adobe Stock
Mississippi
Insurance cost for homes with $300K coverage: $4,017
Cost compared to national average: +127%
Increase in average insurance rate from 2022 to 2023: 23%
Photo: Ingo70/Shutterstock
Oklahoma
Insurance cost for homes with $300K coverage: $4,782
Cost compared to national average: +170%
Increase in average insurance rate from 2022 to 2023: 24%
Photo: SeanPavonePhoto/Adobe Stock
Florida
Insurance cost for homes with $300K coverage: $9,213
Cost compared to national average: +421%
Increase in average insurance rate from 2022 to 2023: 14%
Photo: frank peters/Adobe Stock
In 2023, the cost of homeowners insurance in the United States climbed 12% to an average of $1,770 per year, according to Insurify. An increase in both the frequency and severity of climate disasters has driven these rising costs, and have made some states so unprofitable for insurers that they’ve begun to end the writing of certain lines of business in those areas.
There are several home improvements those in areas with higher natural catastrophe risk can implement in order to help lower both their risk and their home insurance costs, including:
Replacing their older roofs in order to protect against wind damage and leaks.
Installing a home security system
Upgrading their plumbing to a modern material like copper or CPVC plastic to reduce the risk of leaks and water damage.
Installing smoke detectors and a sprinkler system
Homeowners may also be eligible for premium discounts if they eliminate “attractive nuisances” on their property (like swimming pools), and utilize smart home technology like doorbell cameras or automatic lights.
Insurify determined New Hampshire residents enjoy the most affordable home insurance rates in the U.S., followed by Minnesota, Vermont, Maine and Connecticut.
In the slideshow above, we’ll look at the states Insurify found to have the least affordable homeowners coverage in the U.S. when comparing local wage growth to insurance rate increases.
Alice J. Roden started working for Trending Insurance News at the end of 2021. Alice grew up in Salt Lake City, UT. A writer with a vast insurance industry background Alice has help with several of the biggest insurance companies. Before joining Trending Insurance News, Alice briefly worked as a freelance journalist for several radio stations. She covers home, renters and other property insurance stories.
