Can someone please share their expenses on home insurance? The house we plan to purchase is around 550k and so far I’ve got one insurance quote for $3,100. That seems pretty high to me especially given that we insure two vehicles with the same insurance company and that costs roughly $1,800. So, overall our insurance costs would 4,900 and that sounds a bit high... any thoughts?

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Honestly without the state or construction material your going to get a variety of answers. As someone who used to be an underwriter, it's based primarily geographic location, age of home, and construction materials

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House 1974, typical wood frame construction, Chicagoland north suburbs

Liberty mutual at 1300 with the auto insurance bundle. Without bundle its about 2000 per year

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NYC suburbs (Westchester), $1.3M 4500 square foot tudor, 94 years old, $2180/year insurance. Insurance broker is a relative (wife's father's cousin so not particularly close) so we probably get a slight family discount. Also bundled with two cars and life insurance policy.

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Seems really high. We just bought a new house. It was $1.6m and in a fire prone area and insurance (State Farm) was $2500.

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Shop around

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Just renewed - 550k house - and an Audi A4 for 2k

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I’m a little less than this with 600k house and 3 series.

Totally depends on where you live. EG - property insurance is higher in the southeast than NE because of weather threats. Just depends. Lots of variables - flood zones, fire risk, how the house was built + its age... And if there were prior claims on the property from previous owners, that can make it higher, too.

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In New England, 3,800 sq ft colonial, built in 1979, 6 year old roof, no pool, dog, trampoline, or previous claims. Dwelling coverage of $510k, renewed last November for $1,570. Get an insurance broker or two to shop around for you. I’ll also add that bundling isn’t always cheaper, it’s sometimes best to split home and auto with different companies. At least I’ve always found it to be cheaper than trying to add my home to my auto or vice versa.

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350-400k condo in Chicago. $450 annual insurance with State Farm.

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Also in the NY suburbs $1MM hiuse and pay around 1700

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Old colonial outside Boston 1.1M and $1700/yr bundled with Geico auto

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Seems high - but it is based on what it will cost to rebuild - not necessarily purchase price of the home.

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FL. Bought a 535k house 2 yrs ago and bay about 1.5k

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Used to pay $700/year for a 350k house in NC. It was an HE7 policy with full replacement cost.

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Chicagoland, north shore suburbs

It is possible home you bought had some insurance claims in the past by previous owner and you did not know about it? 550 k home 3000 is very high

Amount they reimbursed may not matter how much they claimed matter same is with auto insurance

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