7 States With Sky-High Insurance

Jennifer Leigh Parker, Special to CNBC.com

States With Expensive Insurance Rates

With forecasters predicting 12 to 18 named storms in 2011, homeowners in the Southern United States may already be looking past the sunny days of summer and bracing for the hurricane season. Insurance providers have already bet on it. Homeowners in certain hurricane prone states are at the mercy of an entirely separate insurance market — the so-called “market of last resort” — created to pick up the slack from private insurers who don't provide coverage for hurricanes — or, for that matter, torn
Photo: Don Klumpp | Getty Images

With forecasters predicting 12 to 18 storms in 2011, homeowners in the Southern United States may already be looking past the sunny days of summer and bracing for the hurricane season. Insurance providers have already bet on it.
Homeowners in certain hurricane prone states are at the mercy of an entirely separate insurance market — the so-called “market of last resort” — created to pick up the slack from private insurers who don't provide coverage for hurricanes — or, for that matter, tornadoes and hailstorms.

The industry’s umbrella term for this secondary market is “Windstorm Insurance.” True to its name, it generally refers to wind or hailstorm damage only.

Residents of seven coastal states can opt for this extra coverage or else leave the rest to chance.

While premiums certainly vary depending on the price of your property and the risk profile of your location — these averages allow for benchmark comparisons.

Click ahead to see average annual homeowners insurance premiums in these states (based on Property Casualty Insurers Association of America data), as well as average windstorm insurance premiums from the least expensive to the most expensive.

By Jennifer Leigh Parker
Posted 29 July 2011

Louisiana

Homeowner's Premium: $1,133 Windstorm Premium: $1,177 Total Cost: $2,310
Photo: Chris Graythen | Getty Images || Source: Louisiana Citizens Property Insurance Corp

Homeowner's Premium: $1,133
Windstorm Premium: $1,177
Total Cost: $2,310

Texas

Homeowner's Premium: $1,218 Windstorm Premium: $1,233 Total Cost: $2,451
Photo: Scott Olson | Getty Images || Source: Texas Windstorm Insurance Association

Homeowner's Premium: $1,218
Windstorm Premium: $1,233
Total Cost: $2,451

South Carolina

Homeowner's Premium: $772 Windstorm Premium: $1,700 Total Cost: $2,472
Photo: Marvin Nauman | FEMA || Source: South Carolina Wind and Hail Underwriting Association

Homeowner's Premium: $772
Windstorm Premium: $1,700
Total Cost: $2,472

Mississippi

Homeowner's Premium: $980 Windstorm Premium: $1,720 Total Cost: $2,700
Photo: Jessica McGowan | Getty Images ||  Source: Mississippi Windstorm Underwriting Association

Homeowner's Premium: $980
Windstorm Premium: $1,720
Total Cost: $2,700

Alabama

Homeowner's Premium: $871Windstorm Premium: $1,880 Total Cost: $2,751
Photo: Jessica McGowan | Getty Images || Source: Alabama Insurance Underwriting Association

Homeowner's Premium: $871
Windstorm Premium: $1,880
Total Cost: $2,751

Florida

Homeowner's Premium: $1,399 Windstorm Premium: $1,814Total Cost: $3,213
John Moore | Getty Images || Source: Citizens Property Insurance Corp

Homeowner's Premium: $1,399
Windstorm Premium: $1,814
Total Cost: $3,213

North Carolina

Homeowner's Premium: $667 Windstorm Premium: $2,825 Total Cost: $3,492
Photo: Cameron Davidson | Getty Images || Source: North Carolina Insurance Underwriting Association

Homeowner's Premium: $667
Windstorm Premium: $2,825
Total Cost: $3,492