Map Reveals States With Highest Home Insurance Costs

By

Giulia Carbonaro is a Newsweek reporter based in London, U.K. Her focus is on the U.S. economy, housing market, property insurance market, local and national politics. She has previously extensively covered U.S. and European politics. Giulia joined Newsweek in 2022 from CGTN Europe and had previously worked at the European Central Bank. She is a graduate in Broadcast Journalism from Nottingham Trent University and holds a Bachelor's degree in Politics and International Relations from Università degli Studi di Cagliari, Italy. She speaks English, Italian, and a little French and Spanish. You can get in touch with Giulia by emailing: g.carbonaro@newsweek.com.

Writers Page
US News Reporter
Trust Project Icon Newsweek Is A Trust Project Member

🎙️ Voice is AI-generated. Inconsistencies may occur.

Nebraska, Oklahoma and Kansas are among the states with the highest average home-insurance costs, according to a recent report by Bankrate.

The New York-based consumer financial services company published a study on Thursday. It shows that homeowners in these three states are paying well over $4,000 a year for their property's coverage, much more than the country's average.

Bankrate experts wrote that insurance premiums are still rising because of the losses inflicted on the sector by the previous rise of inflation. There were the elevated costs of building materials and the increased risk posed by extreme weather events, which are being made more frequent and more severe by climate change.

Data from Quadrant Information Services compiled by Bankrate shows the average cost of homeowners' insurance in the country was $1,759 per year for $250,000 in dwelling coverage as of February. That was about 23 percent more than in 2023, showing that insurance premiums have grown despite the cooling down of inflation. Newsweek contacted Bankrate for comment by email on Friday.

In Nebraska, the average annual home-insurance premium for a home with a dwelling coverage amount of $250,000 was $4,745, according to Bankrate—the highest premiums in the country. Oklahoma came second with an average premium of $4,565 per year, followed by Kansas with an average premium of $4,072 per year.

In Nebraska, the cost of average annual home-insurance premiums was 170 percent higher than the national average, while in Oklahoma and Kansas was respectively 159 percent and 131 percent above it.

Colorado and Louisiana had average annual premiums above the $3,000 mark, with $3,212 and $3,247 respectively. All other states had premiums below the $3,000 mark. In these two states, premiums were respectively 83 and 85 percent higher than the national average.

The states with the cheapest home-insurance annual premiums were Hawaii, Vermont and Delaware, with $408, $694 and $764 respectively for each state. You can find the full list below. The cost of annual home insurance was 77 percent below the national average, while in Vermont and in Delaware, it was respectively 61 percent and 57 percent below it.

Housing U.S.
A row of newly constructed homes wait for buyers at a housing development on April 23, 2010 in Hayward, California. Nebraska, Oklahoma and Kansas are among the states with the highest average home-insurance costs. Justin Sullivan/Getty Images

Average Home Insurance Cost by State, From Highest to Lowest

  1. Nebraska: $4,745
  2. Oklahoma: $4,565
  3. Kansas: $4,072
  4. Louisiana: $3,247
  5. Colorado: $3,212
  6. Arkansas: $2,809
  7. North Dakota: $2,519
  8. South Dakota: $2,455
  9. Kentucky: $2,282
  10. Tennessee: $2,177
  11. Minnesota: $2,174
  12. Montana: $2,172
  13. New Mexico: $2,168
  14. Texas: $2,130
  15. Alabama: $2,085
  16. Mississippi: $2,028
  17. Florida: $1,968
  18. Illinois: $1,896
  19. Missouri: $1,854
  20. Arizona: $1,778
  21. Georgia: $1,761
  22. Michigan: $1,757
  23. New York: $1,728
  24. Iowa: $1,688
  25. Connecticut: $1,623
  26. Indiana: $1,523
  27. Rhode Island: $1,476
  28. North Carolina: $1,429
  29. Maryland: $1,375
  30. Ohio: $1,308
  31. California: $1,266
  32. Massachusetts: $1,262
  33. South Carolina: $1,209
  34. District of Columbia: $1,190
  35. West Virginia: $1,167
  36. Nevada: $1,165
  37. Washington: $1,157
  38. Virginia: $1,154
  39. Maine: $1,147
  40. Wyoming: $1,044
  41. Wisconsin: $1,026
  42. Alaska: $1,019
  43. Idaho: $1,014
  44. Pennsylvania: $968
  45. Utah: $955
  46. Oregon: $954
  47. New Jersey: $916
  48. New Hampshire: $843
  49. Delaware: $764
  50. Vermont: $694
  51. Hawaii: $408
Request Reprint & Licensing Submit Correction View Editorial & AI Guidelines

Top stories

About the writer

Giulia Carbonaro is a Newsweek reporter based in London, U.K. Her focus is on the U.S. economy, housing market, property insurance market, local and national politics. She has previously extensively covered U.S. and European politics. Giulia joined Newsweek in 2022 from CGTN Europe and had previously worked at the European Central Bank. She is a graduate in Broadcast Journalism from Nottingham Trent University and holds a Bachelor's degree in Politics and International Relations from Università degli Studi di Cagliari, Italy. She speaks English, Italian, and a little French and Spanish. You can get in touch with Giulia by emailing: g.carbonaro@newsweek.com.

Writers Page

Giulia Carbonaro is a Newsweek reporter based in London, U.K. Her focus is on the U.S. economy, housing market, property ... Read more