How much should your homeowners insurance cost? The price can vary based on several key factors. These include the coverage amount, deductible, and your location. The average home insurance policy ranges from $1,500 to $3,000 per year. If you own valuable items, you might need extra insurance. This is especially true if you live in a high-risk area. Coastal regions and wildfire zones are examples of such areas.

• Key tips to save money:
  A higher deductible leads to a lower premium, but you will pay more out-of-pocket when you file a claim.

• Aim to spend at least 1% of your home’s value on coverage (for example, $5,000 for a $500,000 home).

• Compare quotes to secure the best rate.