Home Insurance Calculator
Estimate dwelling, personal property, and liability coverage needs and compare to national averages
Home Insurance Calculator
Estimate your home insurance coverage needs and costs
Property Details
Furniture, electronics, clothing, etc.
Risk Factors
Select the risk levels that apply to your property
Calculate Coverage
Homeowners Insurance Coverage Types Explained
| Coverage Type | What It Covers | Recommended Amount |
|---|---|---|
| Dwelling (Coverage A) | Rebuilds your home's physical structure | 100% of replacement cost (not market value) |
| Other Structures (B) | Garages, fences, sheds | 10% of dwelling coverage by default |
| Personal Property (C) | Furniture, electronics, clothing | 5070% of dwelling; consider scheduled items |
| Loss of Use (D) | Temporary housing if home is uninhabitable | 2030% of dwelling coverage |
| Liability (E) | Legal costs if someone is injured on your property | Minimum $300,000; $500K recommended |
| Medical Payments (F) | Guest medical bills regardless of fault | $1,000$5,000 |
Average Homeowners Insurance Premiums by State (2025)
| State | Average Premium | Primary Risk | Typical Dwelling Rate |
|---|---|---|---|
| Oklahoma | $5,765/yr | Tornado, hail | $2.20$3.50/sqft |
| Florida | $4,218/yr | Hurricane, flood | $1.80$3.00/sqft |
| Texas | $3,875/yr | Wind, hail, tornado | $1.60$2.80/sqft |
| Louisiana | $3,611/yr | Hurricane, flood | $1.50$2.60/sqft |
| Colorado | $2,305/yr | Hail, wildfire | $0.90$1.80/sqft |
| California | $1,380/yr | Wildfire, earthquake* | $0.55$1.20/sqft |
| National Average | $1,915/yr | Varies | $0.75$1.60/sqft |
Replacement Cost vs. Actual Cash Value
Replacement Cost (RCV) pays to replace damaged items with new equivalents. Actual Cash Value (ACV) deducts depreciation a 7-year-old $1,200 appliance might only pay out $400. RCV coverage costs 1015% more but dramatically reduces out-of-pocket costs after a claim. Most experts recommend RCV policies for both dwelling and personal property.
Flood & Earthquake Are Not Included
Flood damage is excluded from standard policies. About 40% of flood claims come from outside high-risk zones. The NFIP offers flood policies for ~$700$1,200/yr average. Earthquake coverage is a separate policy or endorsement (~$100$300/yr in moderate-risk zones). If you are in a FEMA Special Flood Hazard Area with a federally backed mortgage, flood insurance is mandatory.
Frequently Asked Questions
How is home insurance different from mortgage insurance (PMI)?
Homeowners insurance protects your property against perils (fire, theft, storms) and provides liability coverage. Mortgage insurance (PMI or MIP) only protects the lender if you default on the loan it provides no benefit to you. Both may be required: PMI for conventional loans with <20% down, homeowners insurance by virtually all lenders. They are completely separate policies.
Should I insure my home for its market value or replacement cost?
Always use replacement cost, not market value. Market value includes land (which cannot burn down) and reflects real estate conditions. Replacement cost is what it would cost to rebuild the same structure today at current labor and material prices. In many markets, the replacement cost is 2040% higher than market value. Underinsuring by even 20% can leave you with a significant gap after a total loss.
What does homeowners insurance typically NOT cover?
Standard HO-3 policies exclude: Flood damage (requires separate NFIP or private flood policy); Earthquake damage (separate policy or endorsement needed); Sewer/drain backup (usually an affordable endorsement); Normal wear and tear; Mold from neglected maintenance; Pest infestations; High-value jewelry, art, or collectibles above sub-limits (schedule these separately).
How can I lower my home insurance premium?
Effective ways to reduce premiums: (1) Bundle with auto insurance (save 525%); (2) Install security systems, smoke/CO detectors, deadbolts; (3) Choose a higher deductible ($2,500$5,000 vs. $1,000 can save 1525%); (4) New roof with impact-resistant materials (Class 4 shingles can save 2030%); (5) Ask about loyalty, new home, retiree, or claims-free discounts; (6) Shop quotes every 23 years.
What is an HO-3 vs HO-5 policy?
HO-3 is the most common homeowners policy: it covers the dwelling on an "open perils" basis (all risks except named exclusions) but covers personal property on a "named perils" basis (only listed causes). HO-5 covers BOTH dwelling and personal property on an open perils basis, offering broader protection. HO-5 typically costs 1015% more and is worth it for high-value personal property.