These 10 States Lead the Nation for the Most Expensive Homeowners Insurance: Report

Homeowners insurance rates are rising across the country, but prices are spiking higher in some states more than others.

Nationally, the average cost of homeowners insurance is about $190 per month or $2,285 per year on a $300,000 coverage limit, according to Bankrate. However, insurance prices in some states are soaring due to a number of factors, including the cost of building materials and extreme weather events such as flooding, severe storms, hurricanes, and wildfires.

Where Home Insurance Costs the Most

Of all states in the US, Nebraska had the highest-priced home insurance policies. On average, homeowners in the state are paying $471 on insurance premiums for a policy with a $300,000 dwelling coverage, which totals $5,652 a year. That is $3,367 or 147.3% higher than the national average.

One major factor in Nebraska's skyrocketing insurance cost is its risk of natural disasters, particularly winds and tornados. In fact, the state is known as the "Tornado Alley" and was impacted by five of the 10 costliest US catastrophes involving tornadoes, per data from the Insurance Information Institute.

10 States With the Highest-Priced Home Insurance

Nebraska

Average annual insurance premium: $5,652

Average monthly insurance premium: $471

Difference from the national average: +147.3%

Florida

Average annual insurance premium: $5,527

Average monthly insurance premium: $461

Difference from the national average: +141.8%

Oklahoma

Average annual insurance premium: $4,833

Average monthly insurance premium: $403

Difference from the national average: +111.5%

Louisiana

Average annual insurance premium: $4,296

Average monthly insurance premium: $358

Difference from the national average: +88.0%

Kansas

Average annual insurance premium: $4,241

Average monthly insurance premium: $353

Difference from the national average: +85.6%

Texas

Average annual insurance premium: $3,916

Average monthly insurance premium: $326

Difference from the national average: +71.3%

Kentucky

Average annual insurance premium: $3,277

Average monthly insurance premium: $273

Difference from the national average: +43.4%

Colorado

Average annual insurance premium: $3,222

Average monthly insurance premium: $268

Difference from the national average: +41.0%

Arkansas

Average annual insurance premium: $2,913

Average monthly insurance premium: $243

Difference from the national average: +27.4%

South Dakota

Average annual insurance premium: $2,838

Average monthly insurance premium: $236

Difference from the national average: +24.2%