By: Ramu Garuda  August, 20, 2019

According to a Gavop study, homeowners in California pay an average homeowners insurance rate of $1,570 per annum. The study also shows that a majority of California homeowners opt for an HO-3 home insurance policy.

An HO-3 policy is one of the most comprehensive homeowner’s policies available in the market and among the highly popular homeowner’s policies in California. An HO-3 policy provides an all-risks coverage for buildings and broad named-peril coverage for personal property. It is also the most common insurance package written in Georgia.

By: Hemanth Ramesh August, 19, 2019

Which insurance firms in Louisiana offer the cheapest homeowners insurance under an HO-3 policy? To answer this question, Gavop analyzed data for brick veneer homes valued between $100,000 and $300,000 with a $500 deductible rate.

United Fire and Indemnity offers the cheapest homeowners insurance in Louisiana. The premium rate for the homeowner with a home valued at $100,000 is $465 per annum under an HO-3 policy. The deductible rate is $500 per annum. Shreveport, in particular, reports the lowest homeowner’s insurance rate offered by United Fire and Indemnity.

By: Ramu Garuda  August, 16, 2019

Pennsylvania’s homeowners pay an average homeowner's insurance rate of $1,227 per annum, which is on par with the national average of $1,228 per annum. The average property cost in Pennsylvania is about $154,164. Langhome reports the highest average home insurance rate of $1,741 per annum.

Insurance companies account for multiple factors when calculating a homeowner’s insurance rate. Many of these factors are out of the homeowners’ control such as the age of home, probability of natural disasters, age of the home, and property location.

By: Hemanth Ramesh August, 15, 2019

According to a Gavop analysis, Florida’s homeowners pay an average homeowner's premium of $1,772 per annum. Gavop analyzed data published by the National Association of Insurance Commissioners (NAIC) to understand insurance rates, the number of premiums written, and the cost of dwelling fire insurance for Florida homeowners with different insurance coverage amounts and various insurance policies

By: Ramu Garuda  August, 14, 2019

A Gavop analysis shows that Georgia’s homeowners pay an average homeowner's insurance premium of $1,103, which is 10% lower than the national average of $1,228.

The following table shows that the average insurance rate increases with a rise in coverage amount for all policy types. In addition, the insurance rates for dwelling fire premiums are significantly lower than those for the five 5 homeowner’s policy types.

By: Hemanth Ramesh August, 13, 2019

According to a Gavop analysis, Massachusetts homeowners pay an average flood insurance premium of $1,563 in addition to the average homeowners insurance rate of $1,379.

The National Flood Insurance Program (NFIP) ensures that more than 330 communities in Massachusetts that have agreed to enforce and adopt floodplain management ordinances receive federally backed flood insurance. The Legal Information Institute defines community as a state or political subdivision thereof that has zoning and building code jurisdiction over a particular area with a special flood hazard status.

By: Ramu Garuda  August, 12, 2019

Situated at the heart of the American auto manufacturing industry, the American Automobile Association (AAA) owns a 14.1% share of the homeowner's insurance market in Michigan under the brand Auto Club Insurance Association. Unfortunately, it is compulsory to be a AAA member to even get a quote for AAA homeowners insurance in Michigan. Nevertheless, a AAA membership comes with its benefits.

By: Hemanth Ramesh August, 09, 2019

Gavop studied the data published by the National Association of Insurance Commissioners (NAIC) in 2019 and identified the top 5 insurance firms in Ohio by market share.

State Farm

State Farm is the biggest insurance firm in Ohio with a market share of 11.35%. In 201,8 the firm reported written direct premiums of $2,080,574 and direct premiums earned of $2,080,805.  AM Best has given State Farm the highest possible rating of A++, which is reserved for companies that have a superior ability to meet their ongoing insurance obligations.

By: Ramu Garuda  August, 08, 2019

Homeowners in Arizona pay an average homeowners insurance rate of $803 per annum, which is much lower than the national average of $1,228 per annum. The total written premiums by insurance firms under Arizona’s homeowner's multi-peril segment amount to $1,610,131,044 for 2017.

Gavop analyzed data from a 2019 market share report published by the National Association of Insurance Commissioners (NAIC) to identify the top 5 homeowners insurance firms in Arizona.

By: Hemanth Ramesh August, 08, 2019

According to a Gavop study, Washington DC’s homeowners pay an average home insurance rate of $1,196, which is marginally lower than the national average of $1,228. Gavop examined data from a 2019 market share report published by the National Association of Insurance Commissioners (NAIC) to identify the top 5 insurance firms providing home insurance in Washington.