Lowest Home Insurance Quotes by State

Homeowner Insurance Rates Cheaper in Boise Idaho than in Denver

Feb 14, 2010
Daniel Workman

Idaho Home Insurance Rates - Ken Lund (Flickr)

During December 2009, home insurance quotes for Idaho and Utah residents were almost 50% lower than premiums proposed to homeowners in California and Colorado.

According to the Home Insurance Rate Report, the U.S. national average homeowner’s insurance premium was US$690.62 as December 2009. That amount is a 1% higher than the $681.28 national average for July 2009.

Homeinsurance.com publishes an interactive map that displays average policy premiums over the past 12 months.

By definition, single average premium amounts cannot possibly represent the wide range of home insurance rates for residences within the same state, city and even street corner.

The lowest average premiums for American homeowners in the 25 states below does give a high-level comparison of home insurance pricing by homeowner location.

States with Lowest Home Insurance Quotes

Idaho residents enjoyed the cheapest average homeowner insurance rate of $367, a premium that is 46.9% lower than the U.S. average of $690.62 as of December 2009.

Also shown are the average quoted rates for 11 other states.

Idaho ... US$367 annual premium (46.9%below average, down 0.5% from November)
Utah ... $399 (42.2% below average, up 1%)
Oregon ... $457 (33.8% below average, down 0.9%)
Arizona ... $508 (26.4% below average, down 0.6%)
Wisconsin ... $510 (26.2% below average, up 1.2%)
Nevada ... $534 (22.7% below average, down 1.1%)
North Carolina ... $535 (22.5% below average, down 0.4%)
Iowa ... $547 (20.8% below average, no change)
New Mexico ... $553 (19.9% below average, down 0.5%)
Washington ... $554 (19.8% below average, down 0.9%)
Ohio ... $554 (19.8% below average, down 0.4%)
Virginia ... $557 (19.3% below average, up 0.9%).

Compared with quotes from November 2009, 7 of the above states experienced modest premium declines of less than 1%. Prices inched up in 3 states, led by Wisconsin’s 1.2% rise.

States Paying Lower Homeowner Premiums

Residents in the following 11 states also received average homeowner insurance quotes below the U.S. national average. In addition, California and Colorado have rates roughly equivalent to December’s $690.62 country-wide average.

Maine ... US$566 annual premium (18% below average, up 7% from November)
New Hampshire ... $593 (14.1% below average, down 3.1%)
West Virginia ... $597 (13.6% below average, down 1.3%)
Pennsylvania ... $616 (10.8% below average, down 0.8%)
Montana ... $619 (10.4% below average, up 2.1%)
Maryland ... $623 (9.8% below average, down 1.1%)
New York ... $630 (8.8% below average, down 0.8%)
Delaware ... $633 (8.3% below average, down 4.5%)
Illinois ... $645 (6.6% below average, up 0.5%)
Wyoming ... $648 (6.2% below average, no change)
Indiana ... $669 (3.1% below average, down 0.3%)
California ... $691 (0.1% above average, no change)
Colorado ... $697 (0.9% above average, up 0.4%).

Among the above states, the average homeowner insurance quote for Delaware residents was down by 4.5%. The average premium rate quoted to Maine homeowners went up by 7%. That represents the greatest monthly increase for any state in the Home Insurance Rate Report.

Reduce Home Insurance Rates

The geographical region of the U.S. in which homeowners reside does impact home insurance rates. For example, rates in Idaho and Utah may be lower than premiums in California because the former states are less prone to natural disasters like earthquakes or floods.

But there are many other factors driving homeowner premiums.

These include dwelling age and the type of materials from which homes are constructed. Older homes with original electrical, plumbing and heating systems are usually assessed higher rates. Wood homes are also subject to more expensive quotes than brick homes better able to withstand wind, hail and other natural risks.

Applicants’ financial credit scores and insurance claims histories are also important factors used to calculate individual home insurance policy rates.

Compare Best Homeowner Insurance Quotes

Carefully comparing a number of competitive home insurance quotes is an important step in finding the most comprehensive coverage at the lowest possible rates.

For an objective comparison, the best source is an independent rate quote service that presents several competitive quotes from a number of independent property insurance companies.

This applies to homeowners in any state, regardless of any calculated average homeowner insurance premium for a geographic region.