About Home Insurance Calculator

Calculate home insurance premiums and deductible options. Part of the DevTools Surf developer suite. Browse more tools in the Real Estate & Home collection.

Use Cases

• Estimate annual premium ranges before closing on a home purchase.
• Compare coverage tiers (HO-1 through HO-8) and understand what each excludes.
• Calculate how much to increase coverage after a major renovation increases home value.
• Determine whether a high-deductible policy saves money for a low-risk, claim-free homeowner.

Tips

• Calculate replacement cost (not market value) for the dwelling — replacement cost is typically 20-40% higher than purchase price in high-labor markets.
• Itemize high-value personal property (jewelry, electronics, art) separately — standard policies cap personal property at 50-70% of dwelling coverage with individual item limits.
• Check the flood and earthquake exclusions before assuming coverage — both require separate riders or policies in most US states.

Fun Facts

• Home insurance in its modern form dates to the 1950 Standard Fire Policy in the US. The HO-3 policy, the current industry standard, was introduced in 1976 and covers 'all perils except listed exclusions'.
• The average US home insurance premium was $1,582 per year in 2023, but Florida homeowners pay an average of $4,231 — the highest in the country — due to hurricane risk and litigation costs.
• Insurers use CLUE (Comprehensive Loss Underwriting Exchange) reports — a 7-year history of claims filed on a property — to underwrite new policies. A single prior claim can raise premiums 20-40%.

FAQ

What's the difference between replacement cost and actual cash value coverage?

Replacement cost pays what it costs to rebuild/replace with new materials. Actual cash value deducts depreciation — a 10-year-old roof may only receive 50% of replacement cost under ACV.

What does standard HO-3 not cover?

Floods, earthquakes, maintenance damage, mold (in most states), sewer backup (unless added), and sinkholes (outside Florida). These require separate riders or policies.

How much liability coverage do I need?

Standard policies include $100,000 liability. Most advisors recommend $300,000-500,000, or an umbrella policy above that. Liability premiums are relatively low compared to the coverage increase.