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What a standard policy covers
Most homeowners buy an HO-3 policy. It bundles six coverages, each with its own limit:
| Coverage | What it pays for | Typical limit |
|---|---|---|
| A – Dwelling | Repairing or rebuilding the house itself | Set to the cost to rebuild |
| B – Other structures | Detached garage, fence, shed | Usually 10% of dwelling |
| C – Personal property | Furniture, clothing, electronics | Usually 50%–70% of dwelling |
| D – Loss of use | Hotel, rent and meals while the home is being repaired | Often 20% of dwelling |
| E – Personal liability | Lawsuits and damages if you injure someone or damage their property | At least $100,000 |
| F – Medical payments | Guests’ minor injuries regardless of fault | At least $1,000 |
Source: Washington Office of the Insurance Commissioner homeowner guide (2025). Limits vary by insurer and policy.
The most important number is Coverage A. It should match what it would cost to rebuild your home, not its market value or what you paid. Our coverage guide explains each part, policy forms and how to set limits.
What isn’t covered
- Flood, including storm surge, needs a separate policy from the National Flood Insurance Program or a private insurer.
- Earthquake needs a separate policy or endorsement.
- Sewer and drain backup is usually only covered with an add-on.
- Wear and tear, maintenance problems and pests aren’t covered.
- Valuables such as jewelry, art and collectibles have low sublimits unless you schedule them.
Our guide to flood, hurricane, wildfire and earthquake cover explains how to fill those gaps.
What homeowners pay
Insurify’s 2026 report put the national average at $2,948 a year at the end of 2025, up 12% in a year and 46% since 2021, and projected about $3,057 by the end of 2026. Prices depend heavily on where you live: Florida averaged $8,292 while Vermont averaged $1,087. Severe storms, wildfires, hurricanes and higher building costs are the main drivers. See our 2026 home insurance cost guide for state-by-state figures.
How to choose an insurer
Look at three things besides price:
- Claims service. J.D. Power’s 2026 property claims study ranked Amica (773), The Hartford (756) and Chubb (744) highest. Average repair time was 29.6 days.
- Customer satisfaction. In the 2026 home insurance study, Amica (680), Erie (678) and Chubb (676) led for homeowners.
- Financial strength. AM Best ratings of A or better mean an insurer is well placed to pay claims after a big disaster.
We compare the major insurers in our guide to the best home insurance companies.
Five ways to pay less
- Shop around. In NerdWallet’s data, average prices for the same home ranged from $1,940 (USAA) to $2,715 (Allstate).
- Bundle home and auto with one insurer. Some carriers take 20% or more off the combined premium.
- Raise your deductible if you have savings, and avoid filing small claims.
- Harden your home: monitored alarms, a newer roof and wind-mitigation features can earn discounts.
- Review limits every year so you’re not over- or under-insured. See our discounts guide.
Special situations
Condo owners, landlords and first-time buyers need different policies or extra steps. Each has its own guide below, along with how to file a claim and get it paid fairly.
All Home insurance guides
Frequently asked questions
Is homeowners insurance required by law?
No state requires it by law, but almost every mortgage lender does. Once your mortgage is paid off, it’s optional, though most owners keep it because rebuilding a home is so expensive.
How much homeowners insurance do I need?
Enough dwelling coverage to rebuild your home at today’s construction costs, personal property cover for everything you own, and liability of at least $100,000; many advisers suggest $300,000 or more.
Does homeowners insurance cover floods?
No. Standard policies exclude flood. You need a separate policy from the National Flood Insurance Program or a private flood insurer.
How much is homeowners insurance a month?
About $246 a month on average based on Insurify’s $2,948 annual figure for 2025, but costs range widely by state.
Why did my home insurance go up?
Mostly because of more frequent severe storms and wildfires, higher building and labor costs and higher reinsurance costs. J.D. Power found 47% of homeowners had a premium increase in its 2025 study.
Sources
- Insurify – Home insurance price projections 2026
- Agency Checklists – Insurify projects premiums to reach $3,057 in 2026 (Mar 2026)
- NerdWallet – Cheapest homeowners insurance (Feb 2026)
- J.D. Power – 2026 U.S. Home Insurance Study (Business Wire, Sept 2026)
- J.D. Power – 2025 U.S. Home Insurance Study (Business Wire)
- Insurance Journal – J.D. Power 2026 Property Claims Satisfaction Study
- Washington Office of the Insurance Commissioner – Homeowner insurance guide (2025)
- Maryland Insurance Administration – Consumer guide to homeowners insurance
- MoneyGeek – Homeowners insurance statistics (Triple-I data, June 2026)
- MoneyGeek – Home insurance discounts (Sept 2026)
- FEMA – Your NFIP flood insurance decision (Oct 2024)
Insurance prices, discounts and rules change often and vary by state. Figures were checked in October 2026; confirm details with the insurer or your state insurance department.