According to InsuredCircle most recent rate analysis, the national average cost of home insurance is $1,784 per year. However, the amount you pay could be higher or lower depending on a variety of factors. Here's how to figure out how much your home insurance will cost.

How to estimate your home insurance

To get an average in your ZIP code, use the homeowners insurance calculator below, or follow the steps to estimate for yourself.

1. Decide how much coverage you need

A typical homeowners insurance policy is divided into six sections:

• Dwelling, which pays for damage to your home's main structure.
• Other structures, which includes detached structures such as sheds and fences.
• Personal property refers to your possessions.
• Loss of use compensates you for additional living expenses if you must relocate while your home is being repaired.
• Personal liability if you injure or damage someone else's property.
• Medical payments, which cover the cost of treating someone who is injured on your property regardless of fault. It may also pay if you, a family member, or a pet injures someone outside of your home.

Each of these types of insurance has its own cap. Higher limits will cost more, but the extra coverage will provide you with more financial protection if disaster strikes.

In most cases, you'll need enough dwelling coverage to cover the costs of completely rebuilding your home. This amount can be estimated with the assistance of an insurance agent.

Several other coverage limits are frequently calculated as a percentage of your dwelling coverage — typically 10% for other structures, 50% to 70% for personal property, and 20% for loss of use.

Liability coverage typically begins at $100,000 and can be increased based on your needs. The typical limit for medical payments coverage is $1,000 to $5,000.

2. Choose your insurance deductible

The amount you pay out of pocket for a covered claim before insurance kicks in is known as your insurance deductible. A typical home insurance deductible ranges between $500 and $2,000.

The higher your deductible, the lower your premium. However, you should think about whether the annual savings are worth paying more in an emergency. Choose a lower amount if you are concerned about not having enough to cover the deductible.

3. Evaluate other factors

The physical characteristics of your home influence the cost of insurance. This may include:

• The home’s age.
• What materials are used to construct your home.
• The roof's condition.
• Your house's size.
• Whether or not the house has any unique features.
• Whether the house is up to current building codes.
• The number and size of other structures such as sheds or fencing.

A swimming pool or other "attractive nuisance" will almost certainly necessitate additional liability coverage.

Location can also be significant. Natural disaster risk and proximity to the coast are two factors that insurers may consider.

4. Consider extra coverage

You may require coverage for events that are not covered by a standard home insurance policy. Floods, earthquakes, sinkholes, and clogged drains are a few examples. Though this additional coverage will cost you more, it may be useful if your home is in danger.

5. Get a quote

Some insurers provide tools to help customers estimate the cost of their home insurance. These features typically use a limited set of data, but they will provide you with an idea of your potential costs. Find out more about house insurance quotes.