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Ben Luthi is a Utah-based insurance writer for Compare.com. With more than a decade of experience covering various insurance and personal finance topics, Ben is passionate about helping people make smart decisions with their money. His work has appeared on a variety of well-known personal finance websites, including the Wall Street Journal, Fortune, Credit Karma, Yahoo! Finance, Experian, NerdWallet, Insurify, and many more.
Ben has been writing for Compare.com since 2025.
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Nick Versaw leads Compare.com's editorial department, where he and his team specialize in crafting helpful, easy-to-understand content about car insurance and other related topics. With nearly a decade of experience writing and editing insurance and personal finance articles, his work has helped readers discover substantial savings on necessary expenses, including insurance, transportation, health care, and more. As an award-winning writer, Nick has seen his work published in countless renowned publications, such as the Washington Post, Los Angeles Times, and U.S. News & World Report. He graduated with Latin honors from Virginia Commonwealth University, where he earned his Bachelor's Degree in Digital Journalism.
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At Compare.com, it’s our mission to give you the tools to find the best (and most affordable) insurance for your unique needs and budget. We strive to provide information that’s helpful, clear, and unbiased, and we believe that comparing insurance companies should never put you at risk of spam. Our editorial team — which is made up of experienced writers, editors, insurance agents, and data analysts — has spent thousands of hours researching and creating the coverage overviews, side-by-side comparisons, and detailed reviews you see across our site.
While we make money through partnerships with some of the brands we discuss in our articles, our editorial team operates 100% independently, and these partners never influence or affect the topics, reviews, ratings, or recommendations we provide. We never guarantee favorable reviews or mentions in exchange for compensation from any brands or partners, and we uphold strict editorial standards to ensure our content is always independent, truthful, and unbiased.
A typical $300,000 home costs an average of around $2,532 per year to insure in the U.S., according to Compare.com data.
That figure may surprise you, especially if you’re used to thinking of insurance costs in terms of total home value. But home insurance is primarily based on your home’s replacement cost, not the land it sits on. That means insurers use your home’s structure, materials, and rebuild value to determine your policy’s dwelling coverage amount.[1]
Here’s what you need to know about insuring a $300,000 home, from average home insurance costs and state-by-state trends to how much coverage you need and how to get the best deal.
Home insurance rates for a $300,000 house vary widely depending on your state, insurer, coverage limits, and other factors.
Vermont Mutual tends to have the cheapest home insurance rates for a $300,000 home, averaging just $72 per month.
In addition to dwelling coverage, you’ll also want liability insurance, personal property coverage, loss of use coverage, and others.
Insurers base your premium on the amount of coverage you need to rebuild your home — typically called the dwelling coverage amount. Each insurance company calculates risk differently, so rates can vary widely even for homes with similar values.
Below are the cheapest homeowners insurance companies for $300,000 in dwelling coverage, according to Compare.com data:
Company  | Average Monthly Premium |
|---|---|
| Vermont Mutual | $72 |
| Grange | $105 |
| Narragansett Bay Insurance | $111 |
| Amica | $116 |
| Unitrin | $120 |
| CSAA | $122 |
| Westfield | $127 |
| Cincinnati Insurance | $135 |
| AIG | $142 |
| Hastings Mutual Insurance Co | $144 |
| USAA | $146 |
| AFI | $149 |
| National General | $155 |
| American Family | $155 |
| Travelers | $167 |
| Farmers | $180 |
| Mercury | $185 |
| Allstate | $188 |
| ASI | $195 |
| Foremost | $199 |
| Auto-Owners | $199 |
| Nationwide | $223 |
| State Farm | $226 |
| Grange Mutual | $232 |
| Encompass | $246 |
| Erie | $251 |
| COUNTRY Financial | $257 |
| Hanover | $262 |
| Allied | $271 |
| Pure Companies Grp | $280 |
| Chubb | $303 |
| Shelter | $304 |
| Farm Bureau Mutual (Ia Group) | $309 |
| Metropolitan | $354 |
| Universal Ins Co Of N. America | $384 |
Cut out the legwork and get quotes from multiple insurers at once.
Where you live plays a major role in what you pay for home insurance. Factors like exposure to natural disasters, repair costs, and fraud rates can all affect your insurance premium.[2]
Check the map below to see the average annual cost of homeowners insurance on a $300,000 home in your state, based on our research.
State | Average Monthly Premium |
|---|---|
| Alabama | $249 |
| Alaska | $102 |
| Arizona | $169 |
| Arkansas | $251 |
| California | $180 |
| Colorado | $229 |
| Connecticut | $144 |
| Delaware | $101 |
| Florida | $470 |
| Georgia | $192 |
| Hawaii | $115 |
| Idaho | $139 |
| Illinois | $186 |
| Indiana | $165 |
| Iowa | $189 |
| Kansas | $278 |
| Kentucky | $254 |
| Louisiana | $428 |
| Maine | $99 |
| Maryland | $153 |
| Massachusetts | $143 |
| Michigan | $185 |
| Minnesota | $183 |
| Mississippi | $251 |
| Missouri | $233 |
| Montana | $169 |
| Nebraska | $267 |
| Nevada | $105 |
| New Hampshire | $94 |
| New Jersey | $96 |
| New Mexico | $216 |
| New York | $104 |
| North Carolina | $287 |
| North Dakota | $206 |
| Ohio | $132 |
| Oklahoma | $380 |
| Oregon | $110 |
| Pennsylvania | $100 |
| Rhode Island | $191 |
| South Carolina | $203 |
| South Dakota | $196 |
| Tennessee | $237 |
| Texas | $345 |
| Utah | $125 |
| Vermont | $78 |
| Virginia | $128 |
| Washington | $116 |
| District of Columbia | $101 |
| West Virginia | $127 |
| Wisconsin | $117 |
| Wyoming | $139 |
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Different types of home insurance policies offer varying levels of protection. These are the most common options and how they work:[3] [4]
HO-1 (Limited form): This policy offers very limited protection, covering only a short list of named perils, such as fire, theft, and vandalism. Because of its minimal coverage, most insurance companies no longer offer HO-1 policies.
HO-2 (Basic form): HO-2 expands on the basic form by covering a broader range of named perils, such as falling objects, freezing pipes, and damage from the weight of snow or ice. But it still pays out only if one of the listed risks causes the damage.
HO-3 (Special form): The most popular home insurance policy in the U.S., HO-3 offers robust coverage for your home’s structure against all perils except those your policy specifically excludes (like flood damage). It also covers personal property, but only for named perils, making it a flexible and widely accepted option.
HO-5 (Comprehensive form): This policy provides the highest level of protection, covering both your home and personal belongings on an “open-perils” basis, meaning you’re covered unless your policy specifically excludes the peril. It’s ideal for homeowners who have high-value homes or possessions, want maximum coverage, and don’t mind paying higher rates.
HO-8 (Modified coverage form): Tailored for older homes that may not qualify for standard policies, HO-8 provides coverage based on the home’s actual cash value (ACV) rather than the cost to rebuild. It typically covers fewer perils but is a useful option when replacement cost coverage isn’t feasible.
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Before buying a home insurance policy, it’s important to make sure your coverage limits match your home’s value and personal needs. But while dwelling coverage is crucial, it’s not the only type of coverage you need. Here’s what you need to consider:
Dwelling coverage: For a $300,000 home, most insurers recommend having at least 80% of the replacement cost in dwelling coverage, or $240,000.[5]
Personal property insurance: This covers furniture, electronics, and other personal belongings. Its limit is typically 50% to 70% of your dwelling coverage limit, which translates to $120,000 to $168,000.
Liability insurance: Liability coverage protects you if someone is injured on your property or you damage someone else’s property. Insurers usually offer a minimum of $100,000, but experts recommend considering $300,000 to $500,000 (or more) for greater protection.
Medical payments coverage: This covers minor medical bills for guests injured in your home, regardless of fault. And it’s typically between $1,000 and $5,000.
Additional living expenses coverage: Also known as loss of use coverage, this pays for temporary housing and meals if your home becomes unlivable. Insurers may offer this coverage for anywhere between 10% and 30% of your dwelling coverage, or between $24,000 and $72,000.
Depending on where you live, you may also consider flood insurance or earthquake insurance.
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If you’re ready to start shopping for a policy for your home, here are some steps you can take to find the right amount of coverage for your budget and needs:
Assess your coverage needs. Start by evaluating how much protection your home and belongings require. This includes calculating your dwelling coverage based on the cost to rebuild your home, estimating your personal property value, and determining how much liability and loss of use coverage you’ll need.
Research insurance companies. Not all insurers are created equal. Look for homeowners insurance companies with strong financial strength ratings from agencies like AM Best and high customer satisfaction scores from sources like J.D. Power. Reading online reviews and checking the company’s history with claims processing can also give you insight into how they treat policyholders.
Compare quotes. Get quotes from at least three insurance companies to compare premiums, deductibles, and policy features. Make sure each quote reflects the same coverage levels so you can make an apples-to-apples comparison.
Take advantage of discounts. Ask about discounts for bundling your home insurance with other policies, such as auto or life insurance. Many insurers also offer discounts for protective devices like smoke detectors or alarm systems, or even for having a strong credit score. These savings can add up and significantly lower your premium.
Review your policy details. Before finalizing your choice, read the policy documents carefully. Look for exclusions, coverage limits, and optional endorsements that could affect your protection. It’s also wise to understand how your deductible applies in different scenarios, such as windstorms or named natural disasters.
Finalize your policy. Once you’ve found the right insurer and policy, select your coverage start date and set up your payment method. If your lender handles premium payments through an escrow account, notify your lender of your new policy details.
Compare personalized quotes from dozens of top insurers.
Here are the answers to some common questions you may come across as you try to get coverage for your $300,000 home.
Insurers consider factors like location, home age, roof condition, ZIP code, credit history, and claims history. Because every insurance company evaluates these factors differently, it’s important to shop around and compare quotes.
For a $300,000 house, you typically need at least $240,000 in dwelling coverage, which should be around 80% of your home’s replacement cost. That amount doesn’t include the land value — just the cost of rebuilding the structure, such as labor, materials, and any local building code requirements.
You can lower your homeowners insurance costs in a few smart ways. For example, try raising your deductible, bundling your home and auto policies, or installing safety features like smoke detectors or a security system. It also pays to shop around.
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Ben Luthi is a Utah-based insurance writer for Compare.com. With more than a decade of experience covering various insurance and personal finance topics, Ben is passionate about helping people make smart decisions with their money. His work has appeared on a variety of well-known personal finance websites, including the Wall Street Journal, Fortune, Credit Karma, Yahoo! Finance, Experian, NerdWallet, Insurify, and many more.
Ben has been writing for Compare.com since 2025.
Nick Versaw leads Compare.com's editorial department, where he and his team specialize in crafting helpful, easy-to-understand content about car insurance and other related topics. With nearly a decade of experience writing and editing insurance and personal finance articles, his work has helped readers discover substantial savings on necessary expenses, including insurance, transportation, health care, and more. As an award-winning writer, Nick has seen his work published in countless renowned publications, such as the Washington Post, Los Angeles Times, and U.S. News & World Report. He graduated with Latin honors from Virginia Commonwealth University, where he earned his Bachelor's Degree in Digital Journalism.
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