Rates by State Offers a Bird-Eye View of Home Insurance Trends Across the Country

WILMINGTON, N.C., July 20 /HomeInsurance.com - Rates By State, a new online report released last week by HomeInsurance.com, gives consumers an inside view to home insurance rate trends across the country.

The report offers average home insurance premium data for 38 U.S. states based on actual sold policies in each area. The current report is displaying average rates as recent as May 2009, along with insurance shopping trends during the same period.

"As far as we know this is currently the most up-to-date, comprehensive home insurance quotes report of its kind available online," said Kyle Kight, Director of Search Marketing at HomeInsurance.com.

The report's interactive, color-coded map displays red for states with recent rate increases and green for states where home insurance rates have dropped, showing also the rate of increase and decrease for each.

"There is a direct correlation between parts of the country where average home sale prices are dropping and where home insurance rates are decreasing," said Jana Bell, Senior Managing Partner. "As new homeowners opt to purchase less expensive or smaller homes, average home insurance premiums will drop as less dwelling coverage is needed to cover the replacement of these homes."

While Rates By State currently only reports on actual premiums in 38 states, HomeInsurance.com intends to begin reporting in all 50 US states by the end of the year. HomeInsurance.com has recently begun selling property insurance to Florida, Louisiana, South Dakota, West Virginia, Wyoming and coastal areas of South Carolina. An auto insurance report is in the works as well.

"It's important to keep in mind that the Rates by State report is a summary of average premiums sold in each area and does not forecast an increase or decrease for any specific customer. Rates are calculated using multiple factors including the size of a customer's home; their claims history; and discount qualification," said Bruce Berry, Senior Managing Partner.

About HomeInsurance.com

HomeInsurance.com was founded in 1992 by CEO Carlos Lagomarsino and provides competitive home and auto insurance quotes to customers across the country. HomeInsurance.com is rated A+ by the Better Business Bureau and is partnered with Travelers, TheHartford, Safeco and Foremost- all rated A or better by A.M. Best Company.