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15 States with the Cheapest Home Insurance in the US

In this article, we will be analyzing home insurance in the US while covering the 15 states with the cheapest home insurance in the country. If you wish to skip our detailed analysis, you can move directly to the 5 States with the Cheapest Home Insurance in the US.

The US Home Insurance Market: An Overview

Home insurance covers damages to one’s home in case of a natural disaster such as a storm, hurricane, wildfire, or an injury on the property. The home insurance cost differs depending on numerous factors such as the location, square footage, and the age of the house. Typically, a home insurance policy provides dwelling coverage for rebuilding or repairing, personal property coverage, as well as liability coverage against accidents caused to others. Most frequently, damages related to earthquakes and floods are excluded from home insurance policies.

The United States remains vulnerable to natural calamities including wildfires, floods, tornadoes, and storms. On September 13, 2023, Reuters reported that the 23 disasters that had hit the US in 2023 have cost $57.9 billion in damages. 253 fatalities took place during these disasters. Outdated building codes that do not cater to the current climate dynamics also expose many Americans to the damage that could be caused during a potential disaster. Furthermore, rising labor costs, construction costs, and material costs for rebuilding led to higher home insurance costs in 2023. The country has seen a rise in property replacement costs as well. These conditions have been prevailing in the industry as home insurance premiums soared from 2022 to 2023, on average. 

The American home insurance market has witnessed higher claims due to a surge in climate-related disasters. In order to mitigate this risk, home insurers have increased insurance rates. This has resulted in higher premiums, especially in states which have a higher risk of these disasters. This is because home insurers in these places tend to pay out high amounts in claims related to natural disasters. Hence, climate change poses a serious threat to the industry. A prime example of a US state being affected by natural disasters is Florida. The high risk of hurricanes and flooding in the state has impacted its home insurance market. Many home insurers have left the market or have been driven out of business since offering policies has become way too costly. Climate change does not only affect the companies since homeowners also find home insurance policies relatively difficult to afford in such circumstances. Increasing construction of homes in disaster-prone areas in America also tends to be an issue. You can also take a look at states with the most expensive home insurance in the US.

Home Insurers Leading the Market

The United States is home to many companies which offer home insurance against potential risks. Some of the major home insurers in the US include Chubb Limited (NYSE:CB), The Allstate Corporation (NYSE:ALL), and The Travelers Companies, Inc. (NYSE:TRV). You can also read about some of the best home insurance companies heading into 2024 and the best manufactured home insurance companies heading into 2024.

Chubb Limited (NYSE:CB) is a global insurance provider. It offers commercial and personal property and casualty insurance through its subsidiary, Chubb. On December 19, 2023, Chubb Limited (NYSE:CB) reported extreme weather as the most cited risk to homes, among wealthy Americans and Canadians. A survey of high-net-worth individuals in the US and Canada further revealed that weather-related water damage was an important concern among 63% of the respondents while 31% of them were concerned with the risk of a wildfire. Homeowners in the US and Canada have also taken preventative measures such as installment of whole-house generators and water-leak detection sensors. Wildfire mitigation has also been implemented as a solution.

The Allstate Corporation (NYSE:ALL) is another American home insurance company. On December 14, 2023, The Allstate Corporation (NYSE:ALL) reported its implemented homeowners insurance rates for November 2023. The company observed a 12.6% year-over-year increase in homeowners insurance average gross written premium in November 2023. This increase was due to the rate increases as well as the inflation in insured home replacement costs.

The Travelers Companies, Inc. (NYSE:TRV) provides property casualty insurance for auto, home and business. It offers homeowners coverage depending on the client’s needs and budget. On January 2, the company reported that it has acquired Corvus Insurance Holdings, Inc. Since Corvus specializes in cyber insurance solutions, the firm will be assisting The Travelers Companies, Inc. (NYSE: TRV) in reducing their clients’ exposure to cyber attack events.

Now that we have taken a look at the American home insurance market, let’s move to the 15 states with the cheapest home insurance in the US.

15 States with the Cheapest Home Insurance in the US

Our Methodology:

In order to compile a list of the 15 states with the cheapest home insurance in the US, we acquired the latest data on state-level home insurance rates. This data was available on Bankrate, a leading consumer financial services company. The latest data was available, as of December 2023. We selected average annual premium as our primary metric while average monthly premium was chosen as our secondary metric.

Finally, we ranked the 15 states with the cheapest home insurance in the US based on their average annual premiums and average monthly premiums, on a priority basis.

15 States with the Cheapest Home Insurance in the US

15. Washington     

Average Annual Premium: $1,106

Average Monthly Premium: $92

The average annual home insurance premium in Washington is $1,106. Port Gamble, Keyport, and Poulsbo are cheaper cities in this regard. Although the state is subject to risks such as earthquakes, wildfires, and unfavorable weather conditions, the home insurance cost is relatively low. Hence, Washington is one of the 15 states with the cheapest home insurance in the US.

14. Virginia

Average Annual Premium: $1,103

Average Monthly Premium: $92

Virginia is one of the US states that offer the lowest home insurance cost in the country. The average annual premium for home insurance in the state is $1,103. Ashburn, Hamilton, and Round Hill tend to be particularly cheaper cities for home insurance in Virginia.

13. Nevada

Average Annual Premium: $1,057

Average Monthly Premium: $88

In Nevada, the average annual home insurance premium is $1,057 which makes it one of the 15 least costly states for home insurance in the US. Boulder City, Round Mountain, and West Wendover are less expensive places for home insurance in the state. Nevada is also less vulnerable to extreme weather and wildfire than neighboring states.

12. Alaska  

Average Annual Premium: $1,027

Average Monthly Premium: $86

Alaska ranks as one of the least expensive states for home insurance in the United States. The average annual home insurance premium in the state is $1,027 while the cheapest cities for home insurance include Angoon, Tenakee Springs, and Homer. The state remains prone to earthquakes, flooding, and severe weather conditions.

11. Wisconsin

Average Annual Premium: $991

Average Monthly Premium: $83

The average home insurance cost in Wisconsin is lower than the average in the US. The average annual premium for home insurance is $991 in the state. Cheap places for home insurance are Oostburg, Cedar Grove, and Waldo. Hence, Wisconsin is one of the 15 states with the cheapest home insurance in the US.

10. Wyoming 

Average Annual Premium: $986

Average Monthly Premium: $82

In Wyoming, the average annual premium for home insurance is $986 which ranks the state among other US states with the cheapest home insurance. Cities offering lower costs of home insurance in the state include Dayton, Leiter, and Ranchester.

9. Idaho     

Average Annual Premium: $980  

Average Monthly Premium: $82

The states with the cheapest home insurance in the US include Idaho as well. The average annual home insurance premium in the state is $980. This cost is lower than the national average. The least expensive cities for home insurance in the state are Meridian, Kuna, and Star.

8. Pennsylvania     

Average Annual Premium: $936

Average Monthly Premium: $78

Pennsylvania offers an average annual home insurance premium of $936. The cheapest places in the state in this regard include Locust Gap, Dornsife, and Sunbury. Surrounding states such as New York and Maryland are also more costly than Pennsylvania. Thus, Pennsylvania is a cheap state in terms of home insurance.

7. Oregon   

Average Annual Premium: $922

Average Monthly Premium: $77

The average annual premium for home insurance is as low as $922 in Oregon. Beaverton, Cornelius, and Forest Grove are the cheapest cities for home insurance in the state. The weather conditions are relatively less subject to volatility in Oregon. Hence, Oregon is one of the states with the cheapest home insurance in the US.

6. Utah       

Average Annual Premium: $904

Average Monthly Premium: $75

Utah ranks as one of the 15 states with the cheapest home insurance in the US. The least expensive places for home insurance in the state include Syracuse, Farmington, and Woods Cross. The average annual home insurance premium in Utah is $904. This is also lower than the home insurance costs in Utah’s neighboring states such as Colorado and Nevada.

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Disclosure: None. 15 States with the Cheapest Home Insurance in the US is originally published on Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

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AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

“AI will run out of electricity by next year.”

As the world chases faster, smarter machines, a hidden crisis is emerging behind the scenes. Power grids are strained. Electricity prices are rising. Utilities are scrambling to expand capacity.

And that’s where the real opportunity lies…

One little-known company—almost entirely overlooked by most AI investors—could be the ultimate backdoor play. It’s not a chipmaker. It’s not a cloud platform. But it might be the most important AI stock in the US owns critical energy infrastructure assets positioned to feed the coming AI energy spike.

As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

  • It owns critical nuclear energy infrastructure assets, positioning it at the heart of America’s next-generation power strategy.
  • It’s one of the only global companies capable of executing large-scale, complex EPC (engineering, procurement, and construction) projects across oil, gas, renewable fuels, and industrial infrastructure.
  • It plays a pivotal role in U.S. LNG exportation—a sector about to explode under President Trump’s renewed “America First” energy doctrine.

Trump has made it clear: Europe and U.S. allies must buy American LNG.

And our company sits in the toll booth—collecting fees on every drop exported.

But that’s not all…

As Trump’s proposed tariffs push American manufacturers to bring their operations back home, this company will be first in line to rebuild, retrofit, and reengineer those facilities.

AI. Energy. Tariffs. Onshoring. This One Company Ties It All Together.

While the world is distracted by flashy AI tickers, a few smart investors are quietly scooping up shares of the one company powering it all from behind the scenes.

AI needs energy. Energy needs infrastructure.

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This company has its finger in every pie—and Wall Street is just starting to notice.

Wall Street is noticing this company also because it is quietly riding all of these tailwinds—without the sky-high valuation.

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The Hedge Fund Secret That’s Starting to Leak Out

This stock is so off-the-radar, so absurdly undervalued, that some of the most secretive hedge fund managers in the world have begun pitching it at closed-door investment summits.

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Why? Because excluding cash and investments, this company is trading at less than 7 times earnings.

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  • The AI infrastructure supercycle
  • The onshoring boom driven by Trump-era tariffs
  • A surge in U.S. LNG exports
  • And a unique footprint in nuclear energy—the future of clean, reliable power

You simply won’t find another AI and energy stock this cheap… with this much upside.

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This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

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