What Is The Price Of Homeowners Insurance?

  1. 14231 POINTS
    Tom Sheehan
    Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
    The price you pay for Homeowners' Insurance will reflect the risk that your company is accepting ion providing coverage.   Many elements go into developing that price including of course, the amount of coverage needed to properly insure your home.  If you have a home with a reconstruction amount of $250,000, odds are you will pay less than if your home's reconstruction values is $450,000. You can manage your Homeowners premium by choosing a higher deductible, installing a monitored alarm system or better yet, by bundling your car and Life insurance all with the same company.
    Answered on May 23, 2014
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  2. 1844 POINTS
    David W. Clausen
    Chief Executive Officer, Coastal Homeowners Insurance Solutions, Rocky Point, NY 11778
    Many factors go into the price you will pay for your homeowners insurance. Here are the most important: the amount of dwelling coverage, your deductible, age of the home, cost to rebuild, condition of the home, alarm systems, your credit score, prior claims history for you and the property you are buying as well as the number of bedrooms, bathrooms and the quality of construction of the home. Most companies will use ~$200/square foot to rebuild your home on Long Island, NY (although I've seen as high as $2,000/sq. ft. on high value homes). A good rough rough estimate is approximately $5/$1,000 of coverage. So if you were looking for $400,000 of coverage you could expect a rate of $2000/yr. Hope this helps!
    Answered on September 29, 2015
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