National Home Insurance Study-St. Joseph Under State Average
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Transcript of National Home Insurance Study-St. Joseph Under State Average
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National Home Insurance Study-St. Joseph Under State Average
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In a just-released national home insurance cost study, the city of St. Joseph beat the Missouri
average for insuring a home
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According to the consumer-oriented research website conducting the survey, the city is among the least expensive within the state for homeowners insurance. This, of course, is relatively good news for all St. Joseph residents who own a home.
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With premiums running at $2,123 annually, the amount is below the state average of $2,175. It ranks St. Joseph 29th in a check of home insurance rates for 87 Missouri cities. Coming in at #30 was Chillicothe, claiming a slightly higher annual rate.
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The study found that where you reside can greatly influence the cost of the premium you have to pay to properly insure your home in Missouri
The survey determined that insurance premiums can vary by as much as 35 % from the most expensive to the cheapest city in the state. And, that translates into a cost variation of $640 a year from highest to lowest.
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Of the five best Missouri cities or towns to live in for affordable homeowners insurance, all five were found primarily to be located along the state’s eastern border. On the other hand, the review listed Mound City as the fifth most expensive for home insurance with an annual cost of $2,401.
A city’s ranking can be very important to both the seller and the buyer.
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One of the most important aspects to having lower home insurance rates is not simply the money savings for the homeowner, but also its appeal for those in the market to purchase a home.
• It’s considered an asset in the real estate world as it can easily affect how well a house sells.
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Other area cities that showed up in the study included • Trenton in 58th place with a $2,229 average annual
rate• Platte City in 60th with $2,236• Maryville at 61st with $2,240• Gallatin in 72nd with $2,297• Bethany in 77th with $2,350 • Hamilton in the 82nd position with $2,390
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The data for the study was pulled from sample homeowners insurance rates for a 2,000 square-foot, two-story house built in 2000, and having a market value of about $200,000, with a built-in garage that did not have a living space above it.
Average costs came from quotes gathered from major homeowners insurance providers, including Progressive, Liberty Mutual, State Farm and Farmers.
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Whether you live in St Joseph or any other Missouri city, you know cost is certainly on your mind when shopping for homeowners insurance.
A good insurance rate can be attractive to would-be buyers with the end result being lower monthly payments.
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Homes in Missouri are a great value. Shouldn’t your home insurance be as well?
Start by making sure you’re getting the best rate on your Missouri homeowners insurance.
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