Last updated: October 9, 2026
There is no single homeowners insurance price that applies to every U.S. home. Premiums depend on the insured rebuilding cost, location, policy form, coverage limits, deductible, property characteristics, and insurer. A national average is useful for context, but it is not a quote for your home.
Latest official national benchmark
The latest NAIC Homeowners Insurance Report currently available is for 2023 data and was released in July 2026. In its countrywide table, the average annual premium for the common owner-occupied HO-3 policy form was $1,737—about $145 per month when divided by 12. The monthly figure is a simple calculation, not a billing amount. NAIC calculates averages from reported premiums and exposure (house-years); the report explains that differences in coverage and insured values make averages an imperfect measure of what an individual homeowner will pay. Read the NAIC 2023 Homeowners Report and its homeowners insurance overview.
This is historical 2023 premium data, not a 2026 rate quote. The report includes state-specific data, but direct state comparisons can be misleading because insured amounts, forms, policy limits, catastrophe exposure, construction costs, and state rules differ. The price for a particular home must be obtained from insurers using its address and coverage details.
What changes a homeowners insurance premium?
- Dwelling limit and rebuilding cost: The amount needed to repair or rebuild is not necessarily the home’s sale price. Materials, labor, local codes, and property features matter.
- Location and hazards: Insurers assess local exposure to events such as wind, hail, wildfire, and other covered hazards. Flood and earthquake protection may require separate coverage or an endorsement.
- Policy form and selected limits: HO-3 is the most common owner-occupied form in the NAIC report, but coverage details and personal-property terms vary by policy.
- Deductible: A higher deductible can reduce a premium but means you pay more before insurance contributes to a covered loss. Some policies use separate percentage deductibles for certain hazards.
- Property features and condition: Roof age, construction, electrical and plumbing systems, protective devices, and prior losses may affect underwriting and price.
- Insurer and state rules: Companies use different rating plans, and state regulation affects what they may offer and how rates are filed.
How to get a useful estimate
- Estimate the cost to rebuild the home, not just its market value; ask insurers how they determine the dwelling limit.
- Request written quotes with the same dwelling limit, personal-property terms, liability limits, deductibles, and endorsements.
- Ask whether wind, hail, wildfire, water backup, flood, or earthquake losses have special limits, exclusions, or separate deductibles.
- Compare replacement-cost and actual-cash-value terms for both the dwelling and personal property.
- Ask the state insurance department which companies are authorized in your area and how to check complaint or licensing information.
The Consumer Financial Protection Bureau recommends comparing written quotes and reviewing the deductible and coverage terms. See its guide to shopping for homeowners insurance.
Ways to manage cost without guessing at coverage
Ask each insurer whether discounts are available for safety or mitigation features, and whether bundling changes the total cost. Compare the savings with the price and maintenance of any upgrade. Before raising a deductible, confirm that you could pay it after a loss. Do not remove protection based only on a lower premium; compare the policy exclusions and limits first.
Related guide
For a plain-language overview of common coverages and exclusions, see what homeowners insurance may cover—and what to verify in your own policy.
Sources and limitations
Primary data source: NAIC, Homeowners Insurance Report: Data for 2023, released July 2026. Consumer comparison guidance: CFPB. Updated October 9, 2026. This article is general information, not an insurance quote or advice about the terms of a particular policy. Check the policy and contact your insurer or state insurance department for case-specific questions.
