Landlord insurance cost by state.
How much does landlord insurance cost? It depends heavily on where the property is. Here are estimated annual premiums for every state, built from official insurance data.
Quick answer
Across states, estimated landlord premiums range from about $1,154 a year in Wisconsin to about $3,784 in Louisiana. States exposed to hurricanes, hail and severe convective storms sit at the top of the list.
How we estimated these figures
The National Association of Insurance Commissioners (NAIC) publishes the average premium for standard homeowners policies (HO-3) in each state; the latest available data is for 2023. Landlord policies usually cost more: the Insurance Information Institute estimates about 25% more than a comparable homeowners policy. We therefore show the NAIC average plus 25% as an estimate. Actual premiums vary with the building, location within the state, coverage limits and deductible.
| # | State | Avg. homeowners (HO-3) | Estimated landlord premium | Share of median annual rent |
|---|---|---|---|---|
| 1 | Louisiana | $3,027 | $3,784 | 29.6% |
| 2 | Texas | $2,864 | $3,580 | 21.3% |
| 3 | Florida | $2,779 | $3,474 | 17.3% |
| 4 | Colorado | $2,492 | $3,115 | 14.7% |
| 5 | Oklahoma | $2,486 | $3,108 | 25.5% |
| 6 | Rhode Island | $2,396 | $2,995 | 18.6% |
| 7 | Nebraska | $2,142 | $2,678 | 20.8% |
| 8 | Massachusetts | $2,134 | $2,668 | 12.6% |
| 9 | Connecticut | $2,036 | $2,545 | 14.3% |
| 10 | Mississippi | $2,029 | $2,536 | 22.2% |
| 11 | Minnesota | $1,988 | $2,485 | 16.2% |
| 12 | Alabama | $1,906 | $2,383 | 19.7% |
| 13 | Arkansas | $1,870 | $2,338 | 20.6% |
| 14 | Wyoming | $1,853 | $2,316 | 19.5% |
| 15 | North Carolina | $1,852 | $2,315 | 15.7% |
| 16 | Georgia | $1,828 | $2,285 | 13.7% |
| 17 | New York | $1,801 | $2,251 | 11.6% |
| 18 | Montana | $1,768 | $2,210 | 17.0% |
| 19 | South Carolina | $1,753 | $2,191 | 15.5% |
| 20 | Kansas | $1,733 | $2,166 | 17.0% |
| 21 | California | $1,655 | $2,069 | 8.5% |
| 22 | Tennessee | $1,649 | $2,061 | 14.4% |
| 23 | South Dakota | $1,614 | $2,018 | 17.8% |
| 24 | Missouri | $1,589 | $1,986 | 16.0% |
| 25 | Maryland | $1,578 | $1,973 | 9.6% |
| 26 | New Jersey | $1,551 | $1,939 | 9.4% |
| 27 | Hawaii | $1,549 | $1,936 | 8.2% |
| 28 | District of Columbia | $1,545 | $1,931 | 8.2% |
| 29 | Virginia | $1,537 | $1,921 | 10.1% |
| 30 | Kentucky | $1,525 | $1,906 | 16.4% |
| 31 | New Mexico | $1,490 | $1,863 | 14.5% |
| 32 | Illinois | $1,480 | $1,850 | 12.1% |
| 33 | North Dakota | $1,414 | $1,768 | 15.4% |
| 34 | Iowa | $1,342 | $1,678 | 14.4% |
| 35 | New Hampshire | $1,300 | $1,625 | 9.1% |
| 36 | Indiana | $1,259 | $1,574 | 12.3% |
| 37 | Washington | $1,232 | $1,540 | 7.3% |
| 38 | Pennsylvania | $1,217 | $1,521 | 10.5% |
| 39 | Alaska | $1,216 | $1,520 | 8.9% |
| 40 | Vermont | $1,215 | $1,519 | 10.3% |
| 41 | Delaware | $1,196 | $1,495 | 8.9% |
| 42 | Arizona | $1,194 | $1,493 | 8.1% |
| 43 | West Virginia | $1,179 | $1,474 | 14.1% |
| 44 | Maine | $1,150 | $1,438 | 10.5% |
| 45 | Idaho | $1,135 | $1,419 | 9.6% |
| 46 | Ohio | $1,116 | $1,395 | 11.2% |
| 47 | Michigan | $1,110 | $1,388 | 10.2% |
| 48 | Utah | $1,107 | $1,384 | 7.7% |
| 49 | Nevada | $1,013 | $1,266 | 6.6% |
| 50 | Oregon | $1,003 | $1,254 | 6.9% |
| 51 | Wisconsin | $923 | $1,154 | 8.8% |
Source: NAIC Homeowners Insurance Report (2023 data). Landlord estimate = NAIC average HO-3 premium × 1.25. Share of rent uses the statewide ACS median gross rent. Estimates only, not quotes.
What drives the price
- Natural catastrophe risk. Hurricanes, hail, wildfire and tornadoes raise premiums and can limit which insurers write policies.
- Rebuilding cost. Higher construction and labor costs mean higher dwelling coverage.
- The building. Age, roof condition, wiring, plumbing and number of units all matter.
- Coverage choices. Replacement cost vs. actual cash value, liability limits, loss-of-rent coverage and the deductible.
- Claims history of the property and, with some insurers, the owner.
Budget it in your analysis
In high-premium states, insurance can take a meaningful share of the rent. Enter a real quote, or at least this state estimate, in the rental property calculator before you make an offer. Read landlord insurance vs. homeowners insurance to understand what the policy should cover, and see our landlord tools page for insurers that work with investors.
See how insurance changes your cash flow.
Update your analysis →General information for U.S. landlords, not legal, tax or insurance advice. Rules vary by state and city; confirm requirements with a local attorney, licensed agent or tax professional.