 TITLE: How Much Does Homeowners Insurance Cost? CONTENT: What Influences Your Homeowners Insurance Premiums?\n---------------------------------------------------\nHow much you'll pay for homeowners insurance depends on a number of factors. Premiums can vary significantly from state to state, which makes sense—insurance companies may charge you more if, say, you live in a high-risk area for brush fires. The replacement cost of your home influences the cost of premium too. The same can be said for your home's age. Having a historic home with a storm-sensitive roof and outdated electrical system will likely mean paying more for homeowners insurance.\nYour credit-based insurance score can be another driving force when determining your premium. Where it's allowed, your credit can be part of the overall risk assessment an insurer conducts before approving or denying you coverage and when deciding your rates. It focuses on things like payment history, credit utilization ratio and delinquent accounts. If there are red flags here, you could end up paying more for homeowners insurance.\nOne other detail that can affect your premium is your deductible. Generally speaking, a higher deductible translates to a lower premium, and vice versa. The majority of insurers offer a minimum deductible of $500 or $1,000, but raising it above the $1,000 mark can bring down the cost of the policy, according to the Insurance Information Institute. Of course, doing so doesn't come without risk. In the event that you need to file a claim, you may need to come up with a higher deductible. END