What is an average insurance rate for a house?
How do they figure insurance costs? About how much would annual insurance be for a $70,000 house? Thanks~!
Answers:
It depends a lot on location. If you own a dog it will also affect your rate depending on the breed. Source(s): I worked for insurance brokers.
Typically, you can estimate in one of two ways.....$500/$200,000 of value which would donate you $175 per year.....or 3/1,000 of value which would give you $210....walk with the higher integer when budgeting since this give you a more conservative analysis........
Insurance varies widely for tons reasons. Obviously, in Mississippi or Louisiana, you're paying greater rates than in Kansas.
The style and age of your home can be a factor. As can the distance from your home to the nearest fire station.
I could see it be anywhere from $400 to $1000 per year, hopefully more on the low side.
Keep in mind, buying a home for $70K doesn't necessarily show you need to be covered for $70K either. Part of that efficacy is the land your home is on, which would remain even if the house burns down. Source(s): 10 years in mortgage bank
Related Questions:
Answers:
It depends a lot on location. If you own a dog it will also affect your rate depending on the breed. Source(s): I worked for insurance brokers.
Typically, you can estimate in one of two ways.....$500/$200,000 of value which would donate you $175 per year.....or 3/1,000 of value which would give you $210....walk with the higher integer when budgeting since this give you a more conservative analysis........
Insurance varies widely for tons reasons. Obviously, in Mississippi or Louisiana, you're paying greater rates than in Kansas.
The style and age of your home can be a factor. As can the distance from your home to the nearest fire station.
I could see it be anywhere from $400 to $1000 per year, hopefully more on the low side.
Keep in mind, buying a home for $70K doesn't necessarily show you need to be covered for $70K either. Part of that efficacy is the land your home is on, which would remain even if the house burns down. Source(s): 10 years in mortgage bank
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