Home Insurance Calculator

Home Insurance Calculator

Homeowner’s insurance provides you with financial protection from disasters and other potential hazards, yet knowing how much home insurance should cost can be tricky. Rates vary among insurance providers. What factors affect those rates? This home insurance calculator can help you determine an appropriate price range for the coverage you need.

Here is a breakdown of the factors that home insurance companies and insurance agents consider when creating your policy. If you wish to see a more detailed, thorough breakdown of how these different components influence your final rates and coverage levels, read this.


A person’s zip code plays a major role in determining the cost and components of their insurance. The cost of buildings and homes varies from area to area, with bigger cities usually proving more expensive.

Another location-related factor is your home’s susceptibility to natural disasters. You must pay extra for protection from many natural disasters. If you live in an area that endures a large number of natural disasters, you should expect higher base-level premiums.

Replacement Cost:

One of the main factors in determining the cost of your homeowner’s insurance is the cost to rebuild your home. The replacement cost of your home refers to the amount of money it would take to rebuild your exact house, assuming that you already own the plot of land. This is probably the most pivotal factor in determining the value of your policy.

Dwelling Coverage:

Dwelling coverage is the part of your policy that focuses on damage to your home. The amount of compensation will impact your premiums and deductible, but it is important that your dwelling coverage limit should provide enough compensation to replace your home if necessary.

Amount of Coverage:

This is another essential factor in determining the final cost of your home insurance coverage. In addition to coverage of your house itself, you should consider other types of coverage such as:

  • Liability insurance: Personal liability coverage will protect you from enduring the financial burden as a result of any harm that you, your family members, or pets may inflict on another person. According to this article from the Rocky Mountain, liability coverage “pays both for the cost of defending you and for any damages a court rules you must pay.”
  • Personal property coverage: Most base-level home insurance plans do not contain personal property coverage. While you may not own any single item with significant monetary value, replacing everything you own in the case of a disaster would be terribly expensive. With that in mind, personal property coverage is a great way to ensure that if your house were to be destroyed, the house itself, as well as your belongings inside, will be replaced.
  • Natural disaster coverage: It is dangerous to assume that any natural disaster is automatically covered in your plan. Many people have expected to receive compensation after enduring a flood, only to find out that flood insurance is a separate entity that they did not purchase.
  • Bundling: Another idea to consider is bundling your home insurance plan with other types of insurance, such as your car insurance or life insurance. This generally brings the price of each type of insurance down, saving you money without diminishing the quality of your coverage.


A deductible is the amount of money that the insurance company requires you to pay before they step in and pay the remaining expenses. Generally, the higher the deductible, the lower your premiums will be, and vice versa. Deciding whether you want to risk paying more in the case of a future disaster or have higher monthly payments now is an important consideration when deciding on a policy that works best for you.

Condition, Age, and Materials of your home:

Each of these factors relate to the replacement value of your home, but they also affect insurance rates. While auto insurance rates tend to climb as the quality of the car increases, home insurance rates increase for older, poorly maintained homes. If your home has state of the art fire, security and electrical systems, your rate will decrease.

What your house is made of also affects your final rate. Houses made primarily of wood and flammable materials typically have more expensive premiums.

Claims history:

The more insurance claims you have on your record, the higher your premiums will be. If you have made claims in the past, you should expect your premiums to be slightly higher. If you have never made a claim, expect to receive lower rates.

Since rates and types of coverage vary between companies, it is important that you know your options before choosing a plan. At Gebhardt Insurance Group, we can help you explore your options and give you a free quote. Contact us today!