This calculator helps homeowners estimate their insurance costs. By providing basic information about your property, you can get an estimate of the coverage you might need and the potential cost.
This estimator uses data from the National Association of Insurance Commissioners (NAIC). All calculations are based on the latest available data and standard insurance formulas.
The estimated premium is calculated as follows:
\( \text{Premium} = \text{Home Value} \times \frac{\text{Coverage Amount}}{100} \times \text{Rate Factor} \)
Home insurance provides financial protection against disasters and covers the structure of your home and your personal belongings.
Consider increasing your deductible, improving home security, and shopping around for the best rates.
Standard policies cover damage to the home and belongings from fire, theft, and certain natural disasters.
While not required by law, mortgage lenders typically require it to protect their investment.
Consider the cost to rebuild your home and replace your belongings, as well as liability protection.