Updated: May 13, 2025
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Homeowners insurance for a $300,000 house varies depending on the deductible. Choosing a higher deductible can lower your premiums.
Homeowners insurance costs vary by company. Auto-Owners is the cheapest option for a $300,000 house at an average of $3,081 annually.
Your credit score can affect your home insurance rates. People with good and excellent credit scores typically get lower rates than those with poor credit.
The average cost of homeowners insurance on a $300,000 home is $4,337 per year. This estimate includes $500,000 in dwelling coverage, $250,000 for personal property, $300,000 in liability coverage and a $1,000 deductible. Your premium will change if you alter any of these coverage limits.
The following sections show average rates based on deductible amount, company and credit score.
The deductible is the amount you pay before your insurance covers costs. A higher deductible typically means a lower monthly premium because you're trading higher upfront costs for long-term savings.
For example, the average yearly cost to insure a $300,000 home with $500,000 in dwelling coverage and a $1,000 deductible is $4,337. Raising your deductible to $2,000 could save you nearly $442 yearly.
See how rates change based on your deductible for a policy with $500,000 in dwelling coverage below.
| $500 | $4,705 |
| $1,000 | $4,337 |
| $1,500 | $4,158 |
| $2,000 | $3,895 |
Home insurance companies calculate premiums differently, so rates can vary. Auto-Owners is the most affordable provider for a $300,000 home with $500,000 in dwelling coverage, with an average annual rate of $3,081. Choosing a different insurer can significantly change your premiums.
Explore the table below to see how average rates vary by company for a policy with $500,000 in dwelling coverage.
| Auto-Owners | $3,081 |
| State Farm | $3,175 |
| Allstate | $3,881 |
| Farmers | $4,392 |
| Nationwide | $4,480 |
| Travelers | $8,856 |
While factors like previous claims and deductible amounts are commonly considered, each company weighs these elements differently. Comparing home insurance providers can help you find the best home insurance at a competitive price.
Credit scores greatly affect home insurance rates. The difference between a good and bad score can change your rate by as much as $10,738 per year.
Insurance companies use credit scores to assess financial responsibility, helping them predict the likelihood of you filing a claim. A higher credit score suggests better financial management, making insurers consider you a lower risk.
Below, you can check how rates vary based on your credit score.
| Excellent | $3,149 |
| Good | $4,980 |
| Fair | $7,428 |
| Below Fair | $9,867 |
| Poor | $13,887 |
*Note: The estimates above are based on a policy with a $500,000 dwelling coverage limit.
Understanding how your credit score affects insurance rates can motivate you to improve your credit profile, which could lead to better insurance options. Consistently paying your bills on time, reducing debt and managing your finances well can improve your credit score and help you secure more favorable insurance premiums.
However, California, Hawaii and Massachusetts don't factor credit scores into premiums due to state laws.
Use our home insurance calculator below to estimate your costs. See how rates vary based on your location and chosen coverage.
MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — It's free to use, requires no personal information and we won't send you any spam.
Rates updated:
May 23, 2025
Although MoneyGeek partners with some of the companies we recommend, our content is written and reviewed by an independent team of writers, editors and licensed agents. Learn more about our editorial policies and expert editorial team.
Home insurance costs depend on your property and personal details. Knowing these factors can help you decide on coverage. Key considerations include:
Where you live affects your insurance rates. Homes in areas with more natural disasters or crime typically have higher insurance costs, while homes in safer areas may have lower rates.
The amount of coverage you choose and your deductible amount are crucial factors. Higher coverage limits or lower deductibles generally mean higher premiums, while lower coverage limits or higher deductibles can reduce costs.
Factors such as your age, marital status and pet ownership can affect your insurance rates because they indicate different risk levels.
Your home's claim history affects your premiums. Frequent claims can make your property seem more risky, increasing insurance costs.
In some states, your credit score can affect your insurance rates. A lower credit score could mean higher premiums, while a higher score could lower them.
Many insurers offer discounts for security systems, bundling multiple policies or a claims-free record. Taking advantage of these discounts can help you lower your insurance costs.
To avoid being overinsured or underinsured, base your dwelling coverage on the cost to rebuild, not the property's market value. The market value includes the land value, while the rebuild cost covers only the structure.
To determine how much home insurance coverage you need for a $300,000 home, you'll need to assess various factors about your specific situation. This includes understanding the cost of rebuilding your home and evaluating your financial standing.
By understanding the standard coverages in home insurance, you can ensure your home is adequately protected.
Dwelling coverage is the foundation of your home insurance policy because it provides financial protection for your house's physical structure. You should have enough coverage to match the estimated cost to rebuild your home if disaster strikes.
A house with a market value of $300,000 may cost more or less to rebuild. Research building costs in your area or contact an insurance agent for help.
Consider more coverage than your estimate for potential construction cost increases or renovations.
Other structures coverage applies to structures on your property that aren't attached to your main home, such as a garage, shed or fence. Repairing or replacing these structures can be costly, so ensure they're covered. This coverage is often set at around 10% of your dwelling coverage.
Personal property coverage in home insurance helps protect your belongings, such as furniture, electronics and personal items, if damaged or lost. List your possessions and estimate the replacement cost to determine how much coverage you need. This will help you choose the right level of personal property coverage.
Many insurers start with a coverage limit of 50% of your dwelling coverage.
Liability coverage safeguards your finances if a guest is hurt on your property or you damage their belongings. This coverage pays for legal expenses and court judgments up to your policy limit. Because legal claims can be costly, higher liability coverage is often a good idea.
Loss of use coverage helps pay for temporary living expenses if a covered event makes your home uninhabitable. This includes hotel bills, restaurant meals and other extra costs while your home is being repaired.
For instance, if a storm causes a tree to fall through your roof, making your home unsafe, this coverage will reimburse you for temporary housing until you can return home.
Loss of use limits typically range from 10% to 30% of your dwelling coverage.
Opting for $300,000 in coverage may seem like the most cost-effective choice. However, higher coverage limits are often wiser to account for potential home upgrades and rising material costs.
While insurers usually offer set coverage limits, you can often request specific amounts, such as $300,000 or $350,000.
Several factors can affect the average cost to insure a home worth $300,000. Understanding how these factors impact your premiums helps you find a policy that fits your financial needs and personal requirements.
This article highlights average rates based on deductible amount, company and credit score to give you estimates for comparing offers.
Below are answers to common questions about home insurance rates to help you determine the right coverage for your $300,000 house.
The average annual cost of insuring a $300,000 house with $500,000 in dwelling coverage is $4,337.
The ideal coverage amount depends on your needs. While choosing lower limits that match your home's replacement cost is an option, higher coverage limits ensure you won't face significant out-of-pocket expenses if disaster strikes.
Insurers use different algorithms to assess risk, which affects your policy’s cost. Typically, homeowners insurance companies consider location, claims record, credit standing, coverage caps and deductibles, applicable discounts and personal data.
Why Trust MoneyGeek?
MoneyGeek analyzed quotes from multiple insurance providers across the U.S. using a profile that reflects the average homeowner. By considering different locations and companies, we provide a reliable estimate of what homeowners can expect to pay, showing why they should compare rates.
Methodology
MoneyGeek evaluated homeowners insurance carriers, incorporating insights and premiums from the official databases of Quadrant Information Services.
Homeowner Profile
For our analysis, we created a sample homeowner profile with the following characteristics:
Homeowners Insurance Coverage Details
Unless otherwise specified, we used the following coverage limits to collect quotes for our comparison:
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
