What State Has The Highest Home Insurance Rates

Facts and figures regarding costs and pricing of home ownership in the United States can be difficult to negotiate. It is best to look at the cost of things like home insurance rates through the lens which best suits your goals. Some people look for favorable comparisons, some look for concrete dollar amounts. Others look for averages and trends over time.

Just because a home insurance rate is high, does not necessarily mean it is bad. The rate can reflect the regional cost of a home combined with median household incomes. Some huge homes in rural areas have miniscule insurance rates because of the region’s cost of living, risk and replacement values. It is always best to weigh the motivation behind owning a home when shopping for state-specific. This will allow the clearest view of which rates are relatively good or bad.

Here are a few comparisons of state insurance rates. To determine the states with the worst and best home insurance rates, it is necessary to measure them against many deciding factors.

The state with the highest average yearly home insurance price is Florida at $1,534. The lowest state average is Idaho at $422. After seeing these figures, the question is “Why not move to Idaho?” Here is where the relativity begins.


The median home price in Florida has soared over 14% in the last year to $162,900. The median price of an Idaho home has only increase 2% in the last year, but has a value of $170,200. Why the discrepancy? Florida has nearly 20 times the population of Idaho. It’s real estate turn-over only averages 90 days. Idaho’s sale rate is nearly 1.5 years.

Another factor is income. The median household income in Florida is $45,100
. Idaho’s is $45,960. This means Florida’s home insurance average is about 3.2% of household income, and Idaho’s comparison is about .9%. It means that if pure home insurance pricing is the only factor, Idaho is the place to be.

Remember Florida’s pricing growth rate? The comparison is 1-14. The overall costs in Florida might be higher by a factor of 4, but the potential for a return on a home investment in Florida far eclipses homes in Idaho. Florida has the highest home insurance rates in the country. The advantage is paying for insurance on a home that will inevitably make a much more lucrative investment than one in a state like Idaho. The price and comparison numbers of income, insurance, and home value are even more obvious in states that do not register on the extremes of these particular scales.

The most expensive state home insurance rates can become less of a burden if that state offers greater opportunity for income. Furthermore, what good is low insurance if the owner is stuck without selling potential and a poor income prospect? Weigh the factors and don’t always determine high and low exclusively on a dollar amount.