Home Insurance Estimator

Coverage Components

A standard homeowners insurance policy (HO-3) typically includes these main coverages:

• Dwelling Coverage (Coverage A): Covers the cost to rebuild your home. Usually set at the replacement cost, which may differ from market value.
• Personal Property (Coverage C): Covers belongings such as furniture, electronics, and clothing. Typically 50–70% of dwelling coverage, or you can specify your own estimate.
• Liability (Coverage E): Protects against lawsuits for bodily injury or property damage to others. Common limits are $100K–$500K.
• Additional Living Expenses (Coverage D): Covers temporary housing if your home is uninhabitable. Usually 20% of dwelling coverage.
• Other Structures (Coverage B): Covers detached garages, sheds, fences. Usually 10% of dwelling coverage.

Premium Estimation Method

This estimator uses a simplified model based on industry averages:

1. Base rate: A percentage of dwelling coverage (typically 0.3–0.5% nationally)
2. Location multiplier: Higher-risk areas (hurricanes, wildfires, tornadoes) increase premiums
3. Home characteristics: Age, construction type, roof age, and square footage affect cost
4. Deductible adjustment: Higher deductibles lower premiums
5. Discounts: Security systems, bundling, and safety features can reduce costs 5–20%
6. Add-ons: Flood, earthquake, and riders increase the total premium