Ignite FB Tracking PixelExpected cost of purchasing homeowners insurance - Karen Shirlin
Realty One Group East
Karen Shirlin, Realty One Group EastPhone: (828) 329-4807
Email: [email protected]

Expected cost of purchasing homeowners insurance

by Karen Shirlin 01/24/2023

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With the numerous options available, you may be wondering about the cost of homeowners insurance. This guide provides a breakdown of the average cost of homeowners insurance and what to expect when getting coverage. 

What are homeowners insurance policies?

Home insurance is technically a type of property coverage. Policies offer financial compensation when perils damage your home and personal items. Policies may cover the structure of the home, structural attachments to the property, offer liability coverage or replace personal items. 

For example, a storm with high winds may damage your front door. Your insurance company evaluates the damages. Then, they provide financial coverage to repair your door. 

What factors affect the cost of homeowners insurance?

Homeowners insurance costs about $1500 per year. Many factors contribute to the price of a policy. These factors include:

  • Size of property.
  • Geographic location.
  • Building materials.
  • Age of property.

There are factors you can control that affect your overall policy cost, like your deductible amount. If you have a higher deductible, you pay more out of pocket if damages occur. However, your monthly premium will be lowered. If you have a lower deductible, you pay less when damages occur. A lower deductible usually means a higher monthly premium. 

The average home insurance cost varies due to a number of factors. Researching and comparing policies can help you find the most affordable coverage. 

About the Author
Author

Karen Shirlin

I'm excited to help with your home search or sale! With experience in home staging and design, I can help sellers see their homes through the eyes of potential buyers. I can offer guidance so we can prepare your home to appeal to the most buyers and therefore obtain an optimized sales price. For buyers, I can help to show the potential in homes that need updating, have awkward spaces, or homes that just need cosmetic updates.

My family recently located to Carteret County, so I understand the unique local search criteria. I can help buyers determine which areas of the county appeal to their lifestyle and meet their needs. If you're looking for water access, water views, walkable areas etc., we'll find a property that says "Home" to you. Vacation home, dream home, quiet escape, starter home, or raw land, the gorgeous Crystal Coast area of NC has it all!