An important factor that influences homeowners insurance is the type of construction material used. There are different kinds of construction materials used across the country – frame, brick, stucco, masonry etc. Gavop analyzed state government insurance data to evaluate the difference in premium based on the construction type of a home, on a state-wise basis.
In places that are less prone to fire, builders prefer frame or masonry type of construction, as they are cheaper. In a frame type of construction, the exterior wall of the building is typically made of wood, which is highly flammable. Masonry construction uses fire-resistant external walls, but with flammable floors and roofs. In a place like Texas, with a higher probability of a wildfire, frame type building material is more likely to be at risk, and therefore preferred less by insurers. Therefore, the location of your home is equally important as is the construction material used, in determining premium rates.
In the following tables, Gavop ranked insurance providers based on the savings consumers can make by buying premium from them. The savings value has been calculated by evaluating the difference between the premium offered by the provider and the state median premium for a particular construction type.
For example, in Oklahoma, the state median premium for frame type of construction is $2,363. The median premium for masonry type of construction costs $154 less at $2,209. CSAA Fire & Casualty insurance enables consumers to save $833 if you live in masonry constructed buildings - by offering a premium that is less than the median by that margin. For frame type construction this number is $879. This comparison lets readers get a better sense of the margin they save by choosing a provider based on the type of construction they live in. However, readers should also keep in mind, that certain kinds of construction materials are less preferable than others, depending on the location. An indicator of this is the median premium for the state and not the savings value.
The state of Louisiana sees more of frame and brick type of constructions than any other material. The median premium for frame is $2,641 and that for brick is $2,309.
In Delaware, the median premium rate for frame type of construction is $995. For masonry type of construction it is $71 less, at $924.
In Hawaii, like in most other states, the cost of a frame type of construction is slightly higher than that of masonry type of construction. The median premium rate of masonry construction is $538. The median premium for frame construction is $23 more, at $561.
p>The median premium rate for frame-based construction in Colorado is $1,387, $66 higher than the median premium for those opting for masonry construction at $1,321.In Maryland, the median premiums for masonry and frame constructions are very similar to each other. The former is at 1,208 while the latter is $1,220.
In Texas, because of a higher probability of wildfire, frame constructed buildings are considered more high-risk since the walls, floors, and roofs for these kinds of houses are highly flammable. Brick and Stucco are much more suited to embrace the weather in Texas.
As a result, in Texas, the median premium rate for frame houses is the highest at $2,013. For brick, it is the lowest at $1,836. Stucco, rounds up the list with a value of $1,876 as its median home insurance premium.
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