The average US homeowner has $1,300 in insurance, which means that the average policyholder spends $100 on it each year.
While that might not sound like much, it’s a lot of money, especially for people who are relatively healthy.
A study by insurance research firm iRate found that homeowners with a policy in 2017 spent nearly $3,000 per year on insurance.
It was the second-highest spending rate among insured households, and the third-highest rate among all Americans, behind only people over 65 and older.
If you don’t want to have to pay the premium, that’s OK, too.
The good news is that there are ways to save money on your insurance, so we’ve compiled a list of the cheapest homeowners insurance policies that you can buy today.