How Much Is Homeowners Insurance on a $300,000 House? (2025)

The average annual home insurance premium for a $300,000 home is $2,532, but costs can vary based on location, credit history, coverage limits, and more.

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Julia Taliesin
Written byJulia Taliesin
Julia Taliesin
Julia TaliesinData Journalist

Julia Taliesin is an insurance content writer at Insurify. She began her career as a journalist, covering local government and business in Somerville, Mass.

Evelyn Pimplaskar
Evelyn PimplaskarEditor-in-Chief, Director of Content
  • 10+ years in insurance and personal finance content

  • 30+ years in media, PR, and content creation

Evelyn leads Insurify’s content team. She’s passionate about creating empowering content to help people transform their financial lives and make sound insurance-buying decisions.

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Mark Friedlander
Reviewed byMark Friedlander
Mark Friedlander
Mark FriedlanderSenior Director, Media Relations, Triple-I
  • Corporate communications director for Insurance Information Institute

  • 20+ years in insurance and communications

As Director, Corporate Communications for Triple-I, Mark serves as the non-profit’s national spokesperson, sharing information and education on a wide array of insurance issues.

Chase Gardner
Data reviewed byChase Gardner
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Chase GardnerData Insights Manager
  • Data expert on auto trends and driver behavior

  • University of Chicago graduate with statistics degree

Chase spearheads analytics for Insurify’s data insights team. With his deep expertise in insurance data, Chase is often interviewed on industry trends.

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The national average annual cost of homeowners insurance for a property with a dwelling coverage limit of $300,000 is $2,532. In general, high-value homes have higher rates because they cost more to replace in the event of a covered loss.

Here’s how much home insurance you need for a $300,000 house and how you can lower your home insurance costs.

Cost of insurance on a $300,000 house

The national average cost of homeowners insurance on a $300,000 house is $2,532 per year. But the replacement cost value of your home is just one of the factors that can affect your premium. 

Your location, credit history, home’s age, claim history, and proximity to a fire station are some other factors insurance companies use to determine your premium.[1] Additionally, different home insurance companies charge varying rates for the same type and amount of home insurance coverage.

Many homeowners can find home insurance rates well below average. For example, regional insurer Erie’s average annual premium for a $300,000 home is $1,388, and Westfield Insurance’s average premium is $1,080.

In the table below, you can see the average monthly home insurance rates from different national and regional insurers based on a policy with a $300,000 dwelling coverage limit.

The below rates are estimated rates current as of: Tuesday, August 19 at 12:00 PM PDT
Data reviewed by Chase Gardner
Headshot of Chase Gardner
Chase GardnerData Insights Manager
  • Data expert on auto trends and driver behavior

  • University of Chicago graduate with statistics degree

Chase spearheads analytics for Insurify’s data insights team. With his deep expertise in insurance data, Chase is often interviewed on industry trends.

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Insurance Company
sort ascsort desc
Average Annual Premium
sort ascsort desc
Grange$1,260
Amica$1,392
CSAA$1,464
Westfield$1,524
AIG$1,704
USAA$1,752
AFI$1,788
National General$1,860
American Family$1,860
Travelers$2,004
Farmers$2,160
Mercury$2,220
Allstate$2,256
ASI$2,340
Auto-Owners$2,388
Foremost$2,388
Nationwide$2,676
State Farm$2,712
Encompass$2,952
Erie$3,012
COUNTRY Financial$3,084
Allied$3,252
Chubb$3,636
Shelter$3,648
Metropolitan$4,248

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How much coverage do you need for a $300,000 house?

Before you purchase homeowners insurance, it’s important to understand how much coverage is necessary based on your home’s value and other factors.

Here are the types of home insurance you should consider and the amount of coverage you might need for a house with a $300,000 replacement cost value:

Coverage Type
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Recommended Coverage Amount for $300,000 House
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Dwelling insuranceAt least $240,000
Personal property insuranceAt least $150,000
Liability insuranceAt least $100,000
Medical payments insurance$2,000–$5,000
Loss-of-use coverageAt least $60,000
  • illustration card https://a.storyblok.com/f/162273/150x150/41b171a645/types-of-houses-96x96-orange_026-mansion.svg

    Dwelling insurance

    Dwelling insurance covers the cost of repairing or rebuilding the physical structure of your home if its damaged by a covered peril. Insurance experts recommend choosing coverage limits of at least 80% of your home’s replacement cost.[2]

  • illustration card https://a.storyblok.com/f/162273/100x100/32ed42213e/personal-property.svg

    Personal property insurance

    Personal property insurance pays to replace your personal belongings if they’re damaged or destroyed in a covered loss. Personal property coverage limits are usually 50%–70% of your dwelling coverage limit.

  • illustration card https://a.storyblok.com/f/162273/150x150/ee0f1a4393/law-and-justice-96x96-yellow_027-dossier.svg

    Liability insurance

    Liability insurance covers your legal fees and financial responsibility if someone sues you for property damage or injuries they sustain on your property. You should base your coverage limits on the total value of your assets, including cars, real estate, savings, and money in retirement accounts. Most standard homeowner insurance policies include some liability coverage, but you might need higher coverage limits depending on your situation.

  • illustration card https://a.storyblok.com/f/162273/150x150/a69f23e05a/healthcare-and-medical-96x96-blue_045-stethoscope.svg

    Medical payments insurance

    Home insurance policies usually include a fixed amount of medical payments coverage, which pays for medical expenses for someone who sustains injuries at your home. You might have the option to choose between several coverage limits.

  • illustration card https://a.storyblok.com/f/162273/150x150/b022eb76ef/buildings-96x96-green_svg-013-hotel.svg

    Loss-of-use coverage

    Loss of use is also commonly known as additional living expenses coverage. Your loss-of-use coverage limit should be around 20% of your dwelling insurance policy limit. Loss of use provides coverage for temporary living expenses if damage from a covered peril displaces you from your home. This includes lodging and restaurant meals.

How to lower your homeowners insurance costs

Insurers consider a number of factors when setting premiums, such as whether you have a newer or older home and your credit-based insurance score, which tells insurers about your credit history but doesn’t harm your credit score when it’s checked.

Your location has one of the biggest effects. For instance, Florida’s vulnerability to severe storms, high winds, and water damage in coastal areas means Floridians often face higher home insurance rates than elsewhere in the United States. But you have many ways to find the cheapest homeowners insurance and lowest rate, even in expensive states.

Here are some suggestions for getting enough coverage with the least expensive average rates:

  • Bundle your policies. Most insurance companies provide significant savings for buying two or more insurance products, such as home and auto.

  • Look for discounts. The best home insurance companies offer discounts that can reduce your insurance costs. While the discounts vary by insurance company, you can typically find savings for having no claims, getting a quote before your old homeowners policy expires, insuring a new home, living close to a fire station, and having certain safety devices in your home.

  • Install safety systems. One of the best ways to save money on home insurance is to install safety systems that prevent the risk of a loss. For example, many insurers will give you a lower premium if you install a monitored burglar alarm system, fire alarms, carbon monoxide detectors, or water-leak sensors.

  • Shop around. Homeowners insurance rates differ among companies, even for the same type and amount of coverage. To find the lowest homeowners insurance rates for your situation, shop around and compare quotes from several insurers.

Average cost of home insurance on a $300,000 house by state

The cost of home insurance is different in every state. Location-specific factors like natural disasters, property theft rates, claims volume, insurance fraud, and litigated claims cause home insurance to be more expensive in certain places.

Based on Insurify’s rate data, Vermont is the cheapest state for home insurance, with an average homeowners insurance rate of $936 per year. Florida is the most expensive state, with an average homeowners insurance premium of $5,640 per year.

Below, you can see the average monthly homeowners insurance premiums by state.

The below rates are estimated rates current as of: Tuesday, August 19 at 12:00 PM PDT
Data reviewed by Chase Gardner
Headshot of Chase Gardner
Chase GardnerData Insights Manager
  • Data expert on auto trends and driver behavior

  • University of Chicago graduate with statistics degree

Chase spearheads analytics for Insurify’s data insights team. With his deep expertise in insurance data, Chase is often interviewed on industry trends.

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State
sort ascsort desc
Average Annual Premium
sort ascsort desc
Vermont$936
New Hampshire$1,128
New Jersey$1,152
Maine$1,188
Pennsylvania$1,200
Washington D.C.$1,212
Delaware$1,212
Alaska$1,224
New York$1,248
Nevada$1,260
Oregon$1,320
Hawaii$1,380
Washington$1,392
Wisconsin$1,404
Utah$1,500
West Virginia$1,524
Virginia$1,536
Ohio$1,584
Idaho$1,668
Wyoming$1,668
Massachusetts$1,716
Connecticut$1,728
Maryland$1,836
Indiana$1,980
Arizona$2,028
Montana$2,028
California$2,160
Minnesota$2,196
Michigan$2,220
Illinois$2,232
Iowa$2,268
Rhode Island$2,292
Georgia$2,304
South Dakota$2,352
South Carolina$2,436
North Dakota$2,472
United States$2,532
New Mexico$2,592
Colorado$2,748
Missouri$2,796
Tennessee$2,844
Alabama$2,988
Arkansas$3,012
Mississippi$3,012
Kentucky$3,048
Nebraska$3,204
Kansas$3,336
North Carolina$3,444
Texas$4,140
Oklahoma$4,560
Louisiana$5,136
Florida$5,640

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Homeowners insurance on a $300,000 home FAQs

Check out Insurify’s guide on switching home insurance companies. If you still have questions about getting home insurance on a $300,000 house, the following information may help.

  • What factors affect the cost of home insurance for a $300,000 house?

    Many factors affect the cost of home insurance on a $300,000 house. Some of the most influential ones include your location, credit record, the age of the home, the cost of building materials, coverage limits, and deductible. If your home has any potential liabilities, like a pool or trampoline, that can also affect your rate.

  • How much is homeowners insurance on a $300,000 house in Florida?

    The average cost of homeowners insurance on a $300,000 house in Florida is $5,640 per year, largely due to Florida’s vulnerability to severe weather.

    Based on Insurify’s proprietary data, Florida has the highest average homeowners insurance costs in the U.S. But you might pay more or less than average based on your home, your policy preferences, and your risk profile.

  • Can you lower the cost of homeowners insurance for your $300,000 house?

    Yes. By making smart insurance decisions, you have plenty of ways to lower the cost of homeowners insurance on a $300,000 house and find the best rates.

    You can look for homeowners insurance companies that offer discounts, pay your annual premium in full, bundle your home insurance with another policy, and consider installing safety equipment in your home. You can also talk to an insurance agent about additional ways to save.

  • What is the 80% rule in homeowners insurance?

    The 80% rule in home insurance states that your dwelling insurance coverage limit should be at least 80% of your home’s replacement cost value. The replacement value is the cost of rebuilding your home back to its original condition, which isn’t the same as the market value.

  • Does the location of your $300,000 house affect the price of homeowners insurance?

    Yes. Location is a major factor that affects home insurance prices. Home insurance rates can vary by state, city, and even ZIP code, based on local factors like weather events, theft rates, and the cost of home repairs. To find the most affordable home insurance where you live, it’s a good idea to get quotes from several insurance companies.

    Where you live may also influence the additional coverage you need, such as flood or earthquake coverage. If you live in an area designated as high risk by FEMA, you’ll need to buy flood insurance, either through a private flood insurer or the federally backed National Flood Insurance Program. In California, you may need earthquake insurance, which is sold through the California Earthquake Authority.

Methodology

Insurify data scientists analyzed rates from more than 180 home insurance companies sourced directly from Insurify’s partner companies and Quadrant Information Services. Rates span all 50 states and Washington, D.C., and quote averages represent the mean price for a given coverage level and geographic area. To ensure data reliability, only insurers meeting minimum quote thresholds were included in the analysis.

Unless otherwise specified, quoted rates reflect the average cost for homeowners with no prior claims and good credit with a home construction year of 1980. The default coverage assumptions include:

Default Coverage Assumptions

  • Dwelling coverage: $300,000
  • Deductible: $1,000
  • Personal property limit: $25,000
  • Liability limit: $300,000

Additional data points beyond these default values are sourced from Insurify’s proprietary database. Rates are updated monthly.

Sources

  1. New York Department of Financial Services. "Understanding What Affects the Cost of Insurance."
  2. New York Department of Financial Services. "Determining How Much Insurance You Need."
Julia Taliesin
Julia TaliesinData Journalist

Julia Taliesin is a data journalist at Insurify. She began her career as a journalist, covering local government and business in Somerville, Mass. She reported multiple investigative stories about municipal finances and budget allocation, building development and inspection, and personnel. When the pandemic began she became a de facto public health reporter, writing daily and weekly reports using available data to quickly communicate rates of infection and city response.

She's worked for print and digital outlets, writing everything from quick-hit breaking news to long-form community features. More recently, Julia managed content strategy at a startup creating a social platform for licensed nurses, overseeing a team of nurse freelancers and editing interview transcripts and news articles for publication.

She holds a Bachelor's degree in communications from Simmons University, with a focus in journalism. Outside of work, Julia enjoys working on crafting projects, learning about homesteading, and singing in cover bands.

Evelyn Pimplaskar
Edited byEvelyn PimplaskarEditor-in-Chief, Director of Content
Evelyn Pimplaskar
Evelyn PimplaskarEditor-in-Chief, Director of Content
  • 10+ years in insurance and personal finance content

  • 30+ years in media, PR, and content creation

Evelyn leads Insurify’s content team. She’s passionate about creating empowering content to help people transform their financial lives and make sound insurance-buying decisions.

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Mark Friedlander
Reviewed byMark FriedlanderSenior Director, Media Relations, Triple-I
Mark Friedlander
Mark FriedlanderSenior Director, Media Relations, Triple-I
  • Corporate communications director for Insurance Information Institute

  • 20+ years in insurance and communications

As Director, Corporate Communications for Triple-I, Mark serves as the non-profit’s national spokesperson, sharing information and education on a wide array of insurance issues.

Chase Gardner
Data reviewed byChase GardnerData Insights Manager
Headshot of Chase Gardner
Chase GardnerData Insights Manager
  • Data expert on auto trends and driver behavior

  • University of Chicago graduate with statistics degree

Chase spearheads analytics for Insurify’s data insights team. With his deep expertise in insurance data, Chase is often interviewed on industry trends.

Featured in

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