What can I expect to pay monthly for homeowners insurance?

Is there a way to know how much home insurance will cost? I'm a first time home buyer. I'm likely going to be buying a home for $149,000.

Answer
“Since you know the cost of the home you’ll be buying, you’ll want to reach out to request quotes from home insurance companies.
Like car insurance, you’ll need to request quotes from carriers to find out what your rate will be.
Insurance companies use a number of factors to determine your rate, such as:
  • location
  • type of home
  • type of coverage you require
  • your credit history,
  • your claims history
Most companies will allow you to request a home insurance quote online or you can speak with an agent directly.
When requesting quotes, they’ll require details about your home like:
  • what materials it’s constructed out of
  • its age
  • if they’re any risks on the property like a trampoline or pool
From there, you’ll be able to get an estimate of what your insurance may cost.”
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Emily Maracle
Answered on Jul 20, 2021
Emily Maracle is a car insurance specialist living in New York. Originally from the Pacific Northwest, she has a degree in English Literature and a background in customer service. She enjoys cooking, gardening, and living sustainably. In the future, she can't wait to upgrade to a hybrid or electric car.
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