If you’re like most homeowners, your home is your biggest asset. Protecting it should be a top priority.
Plus, nearly every mortgage lender requires borrowers to buy home insurance. Which makes sense: After all, your lender wants to get repaid even if your house burns to the ground.
According to the Insurance Information Institute’s latest data, the average annual premium of a homeowners insurance policy in the U.S. is $1,211. However, home insurance costs can vary widely depending on where you live, in large part because some states are considered high-risk areas for natural disasters and, thus, policyholders in those regions are more likely to file claims.
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