Home Insurance Statistics (2026)

The countrywide average annual premium across dwelling fire and homeowners owner-occupied policies was $1,559 for the 2022 data year.

For the HO-3 specifically, the standard homeowners form, the average was $1,569 across $84.4 billion of written premium.

The HO-3 accounts for about 79% of owner-occupied exposures, so for most homeowners the HO-3 figure is the relevant one and the all-forms average is a blend of things they do not have.

Florida averaged $2,611 and Louisiana $2,462, the two highest states by a clear margin.

Oklahoma at $2,189, Colorado at $2,188 and Rhode Island at $2,039 follow, which is a mix of hurricane, hail and wildfire exposure rather than one single peril.

At the other end, Oregon and Wisconsin both averaged $944, with Utah at $962, Nevada at $980 and Ohio at $1,005.

The gap between Florida and Oregon is not only a difference in risk. It is also a difference in what is being insured, because homes are worth different amounts and are covered to different levels.

The NAIC makes this point directly: average premium is an imperfect measure of the relative price of insurance because coverage amounts and policy terms vary widely.

So a state ranking is a reasonable guide to what households actually pay and a poor guide to whether insurers charge more per dollar of coverage there.

For HO-3 policies, the countrywide average ran from $955 on homes insured under $150,000 to $3,971 on homes insured for $1 million or more.

The relationship is not proportional. Roughly a sevenfold increase in coverage produces roughly a fourfold increase in premium, so the price per dollar of coverage falls as the amount rises.

That reflects the fixed component in every policy: the cost of writing and servicing it does not scale with the sum insured.

The HO-3 provides all-risks coverage on the building and broad named-peril coverage on personal property, and it is what most people mean by home insurance.

The HO-5 is broader, extending all-risks treatment to contents, and averaged $1,649. The HO-8 is a modified form for older homes and averaged $1,046.

The HO-1, a basic named-peril form, averaged $1,955, which is higher than the far broader HO-3. That is the clearest illustration in the whole dataset that premium reflects the risk profile of who buys a form rather than the generosity of the form itself.

Dwelling fire policies averaged $1,057, well below the homeowners forms, and they appear alongside them in this report.

The lower price reflects narrower coverage rather than a better deal. A dwelling fire policy typically covers fewer perils and often carries no or limited liability coverage.

The NAIC notes that in each coverage range the dwelling fire average represents a materially different product from the homeowners forms it sits next to, which is why the two should not be compared as if they were quotes for the same thing.

A fixed-rate mortgage payment is fixed. Property tax moves with assessments and local budgets. Home insurance moves with the insurer's view of risk, which can reprice sharply and in one step.

Because it is escrowed for most borrowers, a premium increase usually arrives as a change in the monthly mortgage payment rather than as a bill, which is why it often surprises people.

For a household budgeting a purchase, this is the line most likely to be materially different in three years from the quote used at closing.

The deductible is the largest lever a homeowner controls on the premium, and it is a decision about which risk to keep rather than a discount.

Raising it converts a certain annual saving into an uncertain future cost, which only makes sense if the household has the cash to absorb that cost without borrowing.

Percentage deductibles for wind, hurricane and hail are the ones worth reading carefully, because a 2% deductible on a $400,000 home is $8,000 rather than the flat figure most people have in mind.

The sum insured on a policy is meant to reflect the cost of rebuilding, which is a different number from what the house would sell for.

Land is a large share of market value in expensive areas and does not need rebuilding, so a policy matching market value can be substantially overinsured.

In cheaper areas the reverse can hold, where construction costs exceed market value and matching the sale price leaves the owner underinsured for a total loss.

Insurance is the mechanism for transferring risks large enough to be unrecoverable, and a house is usually the largest single asset a household owns outright or nearly so.

The right frame is therefore the worst case rather than the average one: the question is whether a total loss would be survivable, not whether the annual premium feels expensive.

That is also why raising the deductible and self-insuring the first few thousand dollars is usually sound, while reducing the sum insured to save premium usually is not.

The NAIC collects this information from insurers under its own statistical reporting programme, so it is the producing body rather than an aggregator.

Average premium is calculated by dividing total premium by exposure measured in house-years, which means a policy in force for six months counts as half an exposure.

The data year is 2022 even though the report was published in May 2025. Home insurance pricing has moved substantially since, so treat these as a baseline for comparison rather than as current quotes.

Every figure is from the NAIC's Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owner's Insurance Report, data for 2022, published May 2025.

Countrywide and state averages, policy form averages and the coverage-amount breakdown are all from table 4 of that report and its per-state equivalents.

The caution about average premium being an imperfect measure of price is the NAIC's own, stated in the report's introduction, and is repeated here because it changes how the state ranking should be read.