Home Insurance Calculator
Estimate your home insurance premium and coverage needs
Calculate Home Insurance Premium
Basic Information
Current market value of your home
Total living area in square feet
Age of the property in years
Age of the roof in years
Primary building material
Type of neighborhood
Coverage Options
Amount: $240,000
Amount: $120,000
Protects against lawsuits and injuries
Amount you pay before insurance kicks in
Additional Factors
Affects your premium rates
Estimated Insurance Premium
Coverage Breakdown
Key Insights
Example Calculation
Typical Suburban Home
Home Value: $300,000
Dwelling Coverage: 80% ($240,000)
Personal Property: 50% of dwelling ($120,000)
Liability Coverage: $100,000
Deductible: $1,000
Location: Suburban
Construction: Frame
Estimated Premium
Base Premium (0.55% of home value): $1,650/year
With adjustments for age, location, and features
Estimated Annual Premium: $1,400 - $2,000
Monthly Premium: $117 - $167
Factors Affecting Your Premium
Higher coverage = higher premium
Urban areas may cost more
Newer homes get better rates
Higher deductible = lower premium
Better credit = lower rates
Discounts for security systems
Money-Saving Tips
Bundle home and auto insurance for discounts
Install security and fire alarm systems
Increase your deductible to lower premiums
Maintain good credit for better rates
Update your roof and major systems
Review and compare quotes annually
Understanding Home Insurance
What is Home Insurance?
Home insurance (also known as homeowners insurance or hazard insurance) is a type of property insurance that protects your home and belongings against damage or loss. It also provides liability coverage for accidents that occur on your property.
Types of Coverage
- •Dwelling Coverage: Protects the structure of your home
- •Personal Property: Covers your belongings and possessions
- •Liability Protection: Covers injuries and property damage to others
- •Additional Living Expenses: Covers temporary housing if your home is uninhabitable
How Premiums are Calculated
Insurance companies use complex algorithms to determine your premium based on various risk factors:
- Home Value: Higher value homes cost more to insure
- Location: Risk of natural disasters, crime rates, fire department proximity
- Construction: Materials used and quality of construction
- Age & Condition: Older homes and roofs increase premiums
- Claims History: Previous claims can raise rates
- Credit Score: Better credit often means lower premiums
- Deductible: Higher deductibles reduce premiums
Industry Tip: Most experts recommend getting replacement cost coverage rather than actual cash value coverage, even though it costs slightly more.
Common Coverage Levels
What's NOT Covered
Typically Excluded
- • Flood damage (requires separate policy)
- • Earthquake damage (requires endorsement)
- • Routine maintenance and wear & tear
- • Pest infestations
- • Sewer backup (unless added)
May Need Extra Coverage
- • Expensive jewelry and collectibles
- • Home business equipment
- • Swimming pool liability
- • Trampoline liability
- • Identity theft protection