5 States with the Most Expensive Home Insurance in the US

In this article, we will take a look at the 5 states with the most expensive home insurance in the US. If you wish to see our detailed analysis, you can go to 15 States with the Most Expensive Home Insurance in the US.

5. Arkansas

Average Annual Premium: $2,123

Average Monthly Premium: $177

Arkansas offers expensive home insurance as the average annual premium is as high as $2,123. Apart from earthquakes and flooding, wind damage is a common insurance claim by the state’s residents. The most expensive cities for home insurance in Arkansas include Adona, Mansfield, and Gravelly.

4. Colorado

Average Annual Premium: $2,152

Average Monthly Premium: $179

The average annual home insurance premium is $2,152 in Colorado which is relatively higher as compared to other neighboring states. The state’s weather conditions in the form of snow and hail storms result in a high home insurance cost. Strasburg, Rush, and Ramah are among the expensive places in this regard.

3. Nebraska

Average Annual Premium: $2,951

Average Monthly Premium: $246

With an average annual premium of $2,951, Nebraska qualifies as one of the 15 states with the most expensive home insurance in the US. Home insurance costs are higher in areas more vulnerable to extreme weather and higher crime rates. Ayr, Overton, and Greenley are expensive cities for homeowner insurance in Nebraska.

2. Kansas   

Average Annual Premium: $3,083

Average Monthly Premium: $257

Homeowners in Kansas have to pay high premiums as evidenced by the average annual premium of $3,083. The city of Wichita especially has a high home insurance cost. Blizzards, tornadoes, and hailstorms in the state further drive home insurance costs up. Thus, Kansas ranks as another US state with expensive home insurance.

1. Oklahoma

Average Annual Premium: $3,659

Average Monthly Premium: $305

Oklahoma ranks as one of the US states with the most expensive home insurance. Currently, the average annual premium is as high as $3,659 in the state, much higher than the national average.  Furthermore, the risk of natural disasters such as tornadoes and strong winds. Widespread flooding is also a risk in the state’s eastern parts thereby making home insurance costly in Oklahoma.

You can also take a look at Ken Fisher Portfolio: 12 Biggest Positions and 11 Undervalued Insurance Stocks To Buy Now.