Anniston Homeowners Insurance
- Anniston Homeowners Insurance
Home prices in Anniston are affordable, with the median home cost below $150,000. No matter what you pay for a house, you’ll naturally want to safeguard such an important investment in your life. The best way to protect your property is with homeowners insurance.
Keep reading to learn the average cost of home insurance in Anniston from several major carriers like State Farm, Nationwide, Alfa Insurance, and more. We’ll also discuss factors that affect premiums and the types of coverage you can expect when you get a policy in Anniston.
How Much is Home Insurance in Anniston, Alabama?
There’s a lot to keep in mind when shopping for home insurance, and understanding how much you may be expected to pay is a good start. Look below at the list of popular carriers in Anniston to see how much they charge on average.
Average Homeowners Insurance Cost in Anniston
Alabama Department of Insurance Rating Factors
The numbers in this article are from the Alabama Department of Insurance. The premiums provided here do not include surcharges or discounts that may apply to a particular policy. These are real premiums, but they may vary depending on many factors.
The rates utilized are for an HO-3 Special Form, the most common type of homeowners insurance policy. The HO-3 covers houses on an “all-risks” basis, protecting property from 16 perils. Certain named exclusions, such as floods and earthquakes, are not covered.
The amount of coverage you need is determined by the value of your home. The annual premiums are calculated based on $150,000 or $300,000 of dwelling coverage for 10-year-old houses with brick construction, a $500 deductible, no policy lapses and a premium paid in full.
The policyholder represented is a 40-year-old with a 710 credit score. Insurers in most states use credit rating as an indicator of your ability to pay your premiums on time. Having a bad credit score (below 600) may cause you to pay more for home insurance than someone with a good credit score (700+).
The rates represent houses that have smoke detectors and deadbolt locks with no other protective devices and no claims history. Many homeowners insurance companies may offer additional discounts to policyholders that protect their house with security systems or other features.
Breakdown of Average Home Insurance Rates in Anniston
As you can see, home insurance in Anniston can range quite a bit. The difference between the least expensive provider and the most expensive was over $1,700. Allstate was the most affordable, and Travelers was the only other carrier that came in under the city average.
Nationwide and Alfa were the most costly on our list in the Anniston area. But, this doesn’t mean they may be the most expensive for you. Every company has a different way of underwriting that causes rates to vary for every person. Also, some insurers may have endorsements available that others don’t, which can make some companies more appealing than others.
It’s hard to get an accurate picture of home insurance in Anniston by just looking at averages, though. Many factors affect rates. A significant one is home value. How much you pay for coverage depends on how much insurance you need, and how much insurance you need depends on your home’s value.
With this in mind, look at how average costs vary for $150,000 of coverage.
Average Homeowners Insurance Cost in Anniston for a $150,000 House
Breakdown of Insurance Rates in Anniston for $150,000 Homes
Allstate was still the most affordable, while State Farm and Farmers dropped below the city average when looking only at their coverage of $150,000 homes.
The value of your house is essential because, generally, the larger and more expensive your house is, the more it’ll cost to insure. Larger homes have higher replacement costs.
More expensive homes have costly features, high-end appliances, or rarer materials that would cost more to replace if they were damaged. For instance, ornate staircases, intricately designed pieces, and rare or antique furniture would all cost your insurance company more to replicate or replace after a claim. Take a look at how rates in Anniston differ for $300,000 homes.
Average Homeowners Insurance Cost in Anniston for a $300,000 House
Deciding on Insurance Companies in Anniston, Alabama
As you can see, there are plenty of notable insurance companies in Anniston to choose from. We listed seven major ones, but over 20 insurers filed rates with the state government. One popular carrier not listed is Universal Property & Casualty.
UPCIC is one of the largest insurance companies in Florida. They also write in several other southern states, including Alabama. For help choosing the right insurance company in Alabama, you may want to consult an insurance agent. Independent agents can bind policies from multiple providers and find the right one for you.
Alfa Insurance in Anniston
Alfa Insurance is a popular choice in Anniston. Alfo was founded in 1946 and has grown to become a company with over a million policies in force today. According to our list, Alfa Insurance rates in Anniston are on the higher end. They were the most costly option on our list for $300,000 homes, over $700, or 24%, higher than the closest competitor.
State Farm in Anniston
State Farm, one of the largest insurers in the country, also has a presence in Anniston. For $300,000 homes in Anniston, State Farm’s rates are $183 above the city average for houses in that price range. For $150,000 homes, State Farm was the second most affordable on our list and about $100 below the average for that price range.
What Does Home Insurance Cover?
Homeowners insurance policies are divided into sections according to the coverage they provide. A plan protects much more than just your house. A typical home insurance policy includes:
The amount of dwelling coverage you have is based on the value of your home. For instance, if you have a $150,000 home, you’ll need at least $150,000 of dwelling coverage.
Your other structures coverage amount is usually 10% of your dwelling coverage. So, if you have $150,000 of dwelling coverage, you may have about $15,000 worth of other structures coverage.
Policies operate on either a replacement cost basis or an actual cash value basis when reimbursing you for damaged or stolen items. Replacement cost personal property coverage doesn’t factor in items’ depreciation, which means it pays out more. But, it also costs more.
Liability: limits your liability in case of an accident on or around your property, like if someone slips or gets bitten by your dog. Liability coverage protects your finances when someone gets hurt on your property and pursues you for damages. Liability coverage can cover your legal fees and the injured party’s medical costs.
What Factors Affect Home Insurance Rates in Anniston?
Insurance companies look at many factors when determining home insurance rates. In addition to the ones we’ve already mentioned, providers consider:
Due to the increased chances of receiving a wind damage claim, insurance companies may charge higher rates in areas affected by tornadoes than in regions with no possibility of seeing one.
How to Get a Home Insurance Quote in Anniston, Alabama
With several home insurance options in Anniston, it might be confusing where to turn for coverage. We’d love to help. We’re Clovered, an independent insurance agency that partners with many of the top carriers in the country. We operate in 20 states, including Alabama.
The editorial content on Clovered’s website is meant to be informational material and should not be considered legal advice.