Updated · Built and checked by the PlinzoTools team, formulas tested against published sources
Estimate your monthly and annual homeowners insurance premium from your home's value and your insurer's rate.
This tool calculates your homeowners insurance premium as home value × annual rate, split into monthly and annual figures. Insurance rates vary enormously by insurer, location, coverage level, and risk factors (like flood/wildfire zones) -- there's no single "average rate" this tool can honestly assume, so enter the rate from your own quote or policy for an accurate result.
Enter your home's insured value and your insurer's quoted annual rate. Your estimated monthly and annual premium appear instantly.
The tool multiplies the home value you enter by your annual rate (entered as a percentage) to get an annual premium, then divides that by 12 for the monthly figure. It is a straight percentage-of-value model. Real insurers do not always price this way, since many use square footage, construction type, roof age, claims history, deductible, and local risk models, but expressing a quote as a percentage of insured value is a convenient way to compare policies and to sanity-check a monthly figure.
Annual premium = insured value x (rate / 100); Monthly = annual / 12
Imagine a home with a 300,000 dollar insured value and a quoted annual premium of 1,200 dollars. To find the rate to enter, divide 1,200 by 300,000, which is 0.004, or 0.4 percent. The calculator then reports an annual premium of 1,200 dollars and about 100 dollars per month. If a second insurer quoted 1,500 dollars for the same coverage, the rate would be 0.5 percent and the monthly cost 125 dollars. Working the rate backward from real quotes helps you compare apples to apples across different homes or renewals.
The field asks for replacement or insured value. That is the estimated cost to rebuild the structure, not the price you paid or what the home would sell for. Land value is generally not insured, so a home in an expensive neighborhood may have a market value far above its rebuilding cost. Using market value here can overstate the premium. Your policy declarations page shows the dwelling coverage limit, which is the right number to use.
For coverage advice, talk with a licensed insurance agent, and review what your policy excludes before an emergency.
From an actual quote or your current policy -- rates vary too much by location and risk factors for a generic default to be meaningful.
Divide the annual premium by your insured value and multiply by 100. For example, a 1,800 dollar premium on 360,000 dollars of coverage is 0.5 percent.
Usually not. Use the replacement or insured value of the dwelling from your policy, since land is generally not part of what is insured.
No. Those are typically separate policies in many areas. Ask your agent what your standard policy does and does not cover.
If your lender escrows insurance, the escrow portion is usually one twelfth of the annual premium, similar to this result, but your actual escrow depends on the real policy.
Reference: Consumer Financial Protection Bureau