Anyone in their right mind would point at Florida where houses are destroyed by huge hurricanes, sucked down by sinkholes or destroyed by lightning or even California where mansions are burnt by wildfires or shaken by earthquakes as the most expensive states to insure your home.
However, neither Florida or California hold the dubious honor of being the state with the most expensive homeowners insurance rates.
A survey done in 2005 by Forbes Magazine found that residents of unexpected states pay the highest premiums. The ten highest states for a homeowner to insure their assets are as follows:
Texas: Average Premiums of $1,238 due to hailstorms, hurricanes in the Gulf of Mexico and mold scares.
Louisiana: Average Premiums of $840 due to Hurricane Katrina and other coastal storms.
Oklahoma: Average Premiums of $800 due to tornadoes and floods.
Florida: Average Premiums of $786 due to hurricanes, thunderstorms and sinkholes.
District of Columbia: Average Premiums of $697 due to the difference in cost of property and a high than average risk of terrorist attacks.
Kansas: Average Premiums of $694 due to the likelihood of tornadoes.
Mississippi: Average Premiums of $668 due to hurricanes in the Gulf of Mexico and the likelihood of floods.
Alaska: Average Premiums of $668 due to the amount of rainfall, snow and the threat of forest fires.
New York: Average Premiums of $661 due to the cost of repairs due to snow and the high risk of terrorist attacks.
Colorado: Average Premium of $660 due to tornadoes, hail storms and wildfires.
No matter what state you live in it is important to compare home insurance rates at least once every 6 months in order to find the best value. Why pay more than you should? Get started finding homeowners insurance now!