Data-Driven Home Insurance News & Analysis


Massachusetts homeowners pay an additional $1,200 for hurricane insurance

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By: Ramu Garuda  August, 05, 2019

According to a Gavop study, Massachusetts’ homeowner pay an average homeowners insurance rate of $1,375. Massachusetts is one of the 19 states in the country with a mandatory hurricane deductible. The average premium rate for a hurricane insurance policy in Massachusetts is as much as $1,200 per annum.

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California homeowners pay $517 for AAA home insurance

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By: Hemanth Ramesh August, 02, 2019

In addition to its popularly known roadside assistance, the non-profit American Automobile Association (AAA) offers home, renters, auto, and life insurance. AAA’s average homeowners insurance rate is $517 per annum. AAA is owned by 42 clubs and customers can purchase homeowners insurance through these individual clubs depending on the states in which they are based.

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North Carolina’s homeowners get up to a 25% discount on disaster insurance by participating in community rating systems

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By: Ramu Garuda  August, 02, 2019

According to a Gavop study, North Carolina’s residents pay an average flood insurance premium of $370 per annum for a coverage of $100,000. Robbinsville records the lowest insurance premium rate of $678 per annum, while Whiteville reports the highest rate at $1,699.

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Georgia’s Homeowners Save about $1,774 between the Cheapest and Most Expensive Insurance Rates

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By: Hemanth Ramesh August, 01, 2019

Georgia’s homeowners can save $1,774 if they choose the right insurance firm. A Gavop study shows that Farmers offers the lowest insurance premium of $1,180, while Travelers quotes the highest at $2,954. USAA has the highest market share of 10%.

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Massachusetts’ homeowners can save more than 50% through discounts by top companies

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By: Ramu Garuda  August, 01, 2019

Massachusetts’ homeowners pay an average homeowners rate of $1,190. West Tisbury, Aquinnah, Siaconset, and Nantucket are the most expensive ZIP codes in Massachusetts. Nantucket has the highest homeowners premium of $2,972, whereas the City of Melrose reports the lowest premium of $1,236. Boston city has an average homeowners premium of $2,120.

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Flood Insurance in Florida Costs as Little as $150

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By: Hemanth Ramesh August, 01, 2019

Florida experiences a higher risk of flooding because of its close proximity to the water, both inland and near the coast. Data collected by Gavop suggest that the average flood insurance policy in Florida cost $545 on average per annum. Depending on the location of the property, flood insurance rates vary from $150 to $2,000.  Typical homeowners insurance policies, however, do not cover damages caused by floods. The average homeowners insurance costs $3,575, which is higher than the national average of $1,228.

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Ohio homeowners can save 10% by bundling home and car insurance

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By: Ramu Garuda  July, 31, 2019

Ohio’s homeowners can save as much as $95 or 10% by bundling their home and auto insurance. They can also avail of a multi-policy discount by bundling other insurance policies purchased from the same company. Some of the policies Ohio’s homeowners can bundle include

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New York homeowners can save as much as 60% in flood insurance by building elevated homes

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By: Hemanth Ramesh July, 30, 2019

Natural disasters have been a rare phenomenon in New York. However, in 2012, Hurricane Sandy flooded numerous streets, tunnels, and subways in many areas of New York.

According to the New York Department of Environmental Conservation, a $250,000 limit of building coverage along with a contents coverage limit of $100,000 is available for residential buildings with single families and a $500,000 limit is available for commercial buildings and its contents.

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Illinois homeowners can save $114 by bundling home and auto insurance

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By: Ramu Garuda  July, 29, 2019

According to a Gavop study, Illinois’ homeowners can reduce their insurance costs by bundling their home and auto insurance. Bundling car and home insurance with the same insurance provider can help homeowners save $76-$114 on average. Most insurance firms offer discounts to customers who insure more than one vehicle with them.

Homeowners can also bundle their homeowners insurance with their life, business, and boat insurance provided by the same insurance firm. It is advisable that homeowners speak to their insurance providers about potential bundling options. Multi-vehicle discounts on bundling are also available for trucks, sports vehicles, and RVs.

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Louisiana’s homeowners insurance costs are $1,751 higher than the national average

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By: Hemanth Ramesh July, 26, 2019

Homeowners insurance premium in Louisiana is the second highest in the country at $2,979 on an average per annum. This rate is $1,751 higher than the national average of $1,228. Venice reports the highest average insurance premium in the state at a staggeringly high $11,151 per annum.

The following graph presents the average homeowners premium rates for some of the largest cities in Louisiana, namely New Orleans, Baton Rouge, Lafayette, Lake Charles, Shreveport, and Monroe. According to the US Census Bureau, 79% of Louisiana’s population lives near the coastal areas.

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