Unfortunately, there is no way to give an "average cost." The cost of the insurance varies based on a few different factors: location, age of the home/updates, coverage amount, owner's insurance history, company providing coverage.
As an example though, a $200,000 homeowner's policy in metro King county, can be as little as $375.00 or as high as $700.00 per yeardepending on the factors listed above.
Owner, Mosaic Insurance Alliance LLC, 2122 164th St SW Ste 301, Lynnwood WA 98087
You must be a mortgage broker or you're buying your first home. I get this question all the time from mortgage company reps and first-time home buyers. There are many factors that make up a home insurance rate.
Location of the home
Age of the home
Credit of the insured
Other policies for discounts
Coverage options you choose
Most mortgage brokers use $50/m as an estimate as they work up your paperwork. My advice would be to work with a licensed agent that represents multiple insurance companies so they can shop for you.
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As an example though, a $200,000 homeowner's policy in metro King county, can be as little as $375.00 or as high as $700.00 per yeardepending on the factors listed above.
Location of the home
Age of the home
Credit of the insured
Other policies for discounts
Coverage options you choose
Most mortgage brokers use $50/m as an estimate as they work up your paperwork. My advice would be to work with a licensed agent that represents multiple insurance companies so they can shop for you.