ABA Family Legal Guide

Home Ownership

Property Insurance and Other Protections

Homeowner's Insurance

How much does homeowner's insurance cost?

The cost of homeowner's insurance varies greatly with the policy coverage and the age, location, and replacement cost of your home. It pays to shop around for the cost of insurance premiums, but be sure that you are comparing similar, if not identical, coverage. Another way to reduce costs substantially is to opt for a high deductible, such as $500 or $1,000, if you can afford to pay such an amount yourself in case of damage. You also may qualify for a discount if you've taken particular safety precautions, such as installing deadbolt locks or cabling your mobile home to the ground. Ask your insurance agent what discounts are available and what you would need to do to qualify.