Chris Tepedino is a feature writer that has written extensively about car insurance for numerous websites. He has a college degree in communication from the University of Tennessee and has experience reporting, research investigative pieces…

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states…

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Reviewed byRachael Brennan
Licensed Insurance Agent for 14 Years

UPDATED: Mar 13, 2020

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What is homeowners insurance?

Sometimes referred to as home insurance, homeowners insurance is an insurance policy that homeowners purchase in order to protect the structure of their home, the personal belongings they keep inside their home, and any other external structures which exist on their property. For the most part, home insurance is designed to protect homeowners against the financial consequences of natural and manmade disasters. Read more...

Most expensive homeowners insurance premiums by state

Legend: Average Annual Premium Florida Connecticut Oklahoma Colorado Louisiana 150 300 450 600 750 900 1050 1200 1350 $1471 $1329 $1413 $1298 $1391

Paying for your coverage

Unlike other types of insurance which may charge you by the month, biannually, or give you flexible options, most homeowners insurance companies have a rigid payment structure. You write your insurance provider a check once per year, and you will be protected for the next 12 consecutive months.

Most affordable homeowners insurance premiums

Legend: Average Annual Premium Oregon Utah Idaho Nevada Wisconsin 100 200 300 400 500 600 700 $656 $672 $713 $718 $735

Understanding the claims process

When something damaging happens to your home, your personal property, or a visitor, you may need to file a claim. The first thing you should do is immediately document any damage by taking photos. If the damage is minor – especially if it would be less expensive to repair/replace than to pay your deductible – it may be a good idea to avoid filing a claim. This will keep your annual premiums down and keep more money in your pocket over time. If the damage is more than you can financially handle on your own, be prepared for a long and complicated claims process. Read more...

Understanding "Perils"

Perils are destructive disasters or events which may happen to your home at any time and result in either damage to or destruction of your property. Perils are the main reason homeowners insurance exists in the first place – to protect people from the expenses associated with recovering from a peril. If the peril in question is covered by your insurance policy, then your filed claim will likely be honored and the claims process should be relatively simple.

More information

In this article, we’ve really only touched the surface of what homeowners insurance is, how it protects you, and why it’s so important to be well-informed. Many homeowners insurance topics are nuanced enough to require a more detailed explanation. And you can get that info by clicking the links below: