On average, homeowners may pay around $1,200 a year for home insurance. This depends on several factors, however, and can raise or lower depending on influences out of the homeowners’ control. Be sure to compare quotes in your area to make sure you aren’t paying too much for home insurance compared to your neighbors.
Factors that may influence the cost of your home insurance include: 
Location
Home insurance premiums vary between states and even per zip code. This has to do with the area’s history of claims, proximity to a fire department or fire hydrant, crime rate, frequency of storms, etc. Asking neighbors about their home insurance premiums can help you grasp the ballpark of what you should expect from your home insurance rates.
Value of the Home
One part of home insurance covers the physical swelling in case of damage or loss and is thus calculated based on how much it would cost to rebuild the home after a disaster. The replacement cost value of your home is not the same as the market value. Be sure to speak with an insurance agent about calculating your home’s total replacement cost value, including its permanent fixtures, labor costs, etc.
Coverage Limits
Not every homeowner carries the same amount of coverage. As most lenders require a certain minimum amount of home insurance, some homeowners may stay with the minimum or choose to enhance their coverage for better protection. More coverage generally means higher premiums, but it also means having a better chance of being covered in case of an accident or disaster.
Deductible
It’s possible to raise your deductible in order to lower your monthly premiums. Your deductible is how much you will pay out of pocket after filing a claim and before receiving compensation. For home insurance, this number is usually around $500 to $1,000. Keep in mind that if damage done to the home costs less to repair than the cost of your deductible, then the insurance claim may be denied.
Credit Score
A poor credit score can raise your home insurance rates by a significant amount. Credit is looked at as how likely a homeowner is to pay their premiums on time. You can build your credit by paying off debts such as credit cards and setting up automatic payments so that you never miss an insurance due date.