Is there a "rule of thumb" for estimating home insurance premiums? In estimating a mortgage the principal and taxes are pretty cut and dry, but it's the insurance portion that I can't seem to nail down...

Depends on the area. Where are you?

This calculator isn't terrible, at least when I put in my info (it's linked to the TX Dept of Insurance website). Go to the tab that says "Start" and click on "Home Rates". It will ask you to put in info specific to your location and home to do the estimate.

http://www.helpinsure.com/index.html

Thanks for the replies. Looking in the Montgomery, Magnolia, The Woodlands.

I would estimate .6-.7% of the value of the home.

I tried that calculator and it was all over the place in pricing

Steve - Looks like you are in the mortgage business? I'll look you up once we find what we are looking for. Looks like the rates are still creeping up to almost 5?

SteveBott said:

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I tried that calculator and it was all over the place in pricing

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Yeah, I get a pretty wide distribution, too, but the majority of the answers are in the ballpark. And the average would be a reasonable estimate (at least for the OP's purposes). I happen to also be in The Woodlands, but in Harris Co (where rates are typically a little higher).

Funny, though, the quote that website gives from the company that I actually use is 2.5x what I actually pay.

My contact info is in my profile and be honored to help. Get you pre-approved and run numbers always a good early start so you know what your getting into.

The key to Texas insurance is location. For Houston the father the way from the coast the better it gets. Many other factors of coarse including age of home, credit, building construction etc, but my numbers work early in the process.

As for mortgage rates it's too early to tell. We have seen strong movement upward this year and really can't know what will happen.

I'm paying a lot less then average. But I have an agent that I get to run quotes every year

SteveBott said:

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I'm paying a lot less then average. But I have an agent that I get to run quotes every year

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Mine is also less than the average, but I bundle and get a few other discounts. I don't shop around every year, so I'm not the lowest, either. For estimation purposes, though, the average is decent (better to estimate a little high rather than too low).

Yep I prefer a little high so that's why I use a range. Also you can get a free quote on GEICO site that is pretty easy to use

I'm in Insurance and you can attempt to do a guess, but it is going to vary greatly regardless of house size based on two factors. Your credit score and the roof age of the home. I've seen people purchasing a 1200 sq. ft house for $120,000 end up with rates $2000+ because they have a horrible credit score. I've seen people purchasing a 3,500 sq. ft house with rates at $1,200. My login is my username and would be happy to advise in any way. Just google my name and all of my info will come up.

3000 sq ft house with pool
1200$

Galvanized pipes have a lot to do with price

3700 sq ft
pool
$2500 deductible
trampoline
$1150 year

and just got a free roof