what is your annual homeowners insurance?
Saturday, June 20th, 2009 at
7:12 pm
Jessi Z asked:
what does everyone pay for homeowners monthly etc and how much is your home worth? Just trying to see around the type of money we will need to shell out for insurance
what does everyone pay for homeowners monthly etc and how much is your home worth? Just trying to see around the type of money we will need to shell out for insurance
Tagged with: Insurance • Money • Shell
Filed under: Homeowners Insurance
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I pay $1,380 per year in Texas on a 4100 sq. ft home with a value of $500,000 . Insurance is higher here because of hail , tornado’s , and the mold scare .
Insurance is lower if you have less weather factors, but it can be higher if you live in an area of high taxes and corruption that increase the cost of building replacement value .
Many real estate agents use a basic estimated formula of 0.5 % of the homes value . For example a $100,000 home would be estimated at $500 per year for insurance .
It doesn’t matter what *I* pay. You don’t know what my coverage is, or my deductible, or how much it would cost to rebuild my house. And that $100,000 house that might cost $400 a year in Pittsburgh, could be $1,000 in Houston, or $2,000 in Florida.