Get Hamilton, AL Home Insurance Rates!
Getting Hamilton, AL homeowners insurance quotes has never been easier with our comparitive rater system. Our goal is to help you save time and money by offering the most competitive home insurance rates in Hamilton. Let us help you review and compare up to 12 of the best rate quotes, plus we can help you review which coverage plan, discount and deductible you should choose. Our Alabama agents are ready to help you discover better rates with top-rated companies you can trust. Get your Hamilton homeowners insurance quotes online today or Call 855-976-2656
Hamilton Question and Answer:
What is the population in Hamilton?
The city limit population for Hamilton, AL is 6,885.
Are there a lot of single family homes in this city?
The total homes in the city of Hamilton is 4,449 housing units.
What is the average Hamilton income?
The average income in the Hamilton area is around $37,695.
How much do the homes in Hamilton cost?
The average real estate value of a home in Hamilton is estimated to be around $100,500.
What do Hamilton homeowners pay on average for a homeowners policy?
Home insurance cost around $1,501 per year on average in the Hamilton area, this average is based on a $200K real estate value with a standard HO-3 policy. We help you compare rates and coverage options so you can review the best rate and policy for your home.
What is a basic homeowners policy in Hamilton cover?
A standard homeowners polciy in Hamilton, AL is commonly known as an HO-3 policy that covers damage from all perils except those that are not covered or excluded from your coverage, exclusions are clearly documented within your policy. So it is important for you to read your policy and understand what you are paying for and how your insurance policy can help you if you experience any damages. For example, earthquake or flood insurance coverage is not part of a standard HO-3 policy. There are other types of policies that cover condos, landlord (rentals), tenant (renters) and historical home policies known as HO-8 policy. We can help you enhance your coverage by applying flood insurance or wind and hail coverage.
From our most common questions above, you have read that a Hamilton homeowners policy can sound complicated, but the process of getting the right coverage does not have to be. We are here to help you get the best homeowners insurance rates and answer any questions you have about which home insurance policy is best for you and your family. Get Hamilton, AL home insurance quotes today!
Compare Homeowners Insurance Rates in Hamilton, AL!
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Average Rates Nearby Hamilton
Are you looking for homeowners insurance in a city near Hamilton? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!
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Home Insurance Rates by Zipcode in Hamilton, AL
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Hamilton.
Hamilton, AL Home Insurance Average Premiums
$910 /yr.
For the city of Hamilton, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.
| Coverage Amount: | Annual Premium |
|---|---|
| 1800 sq. ft. or below (discounts applied) | $910 /yr. |
| Average Coverage: | $1160 /yr. |
| 2600 sq. ft. or higher (all discounts applied) | $1460 /yr. |
What is the average home insurance cost for a home in Hamilton, AL?
- • The average homeowners insurance premium paid annually for a home in Hamilton is around $1160 per year.
What does it cost on average per month for home insurance in Hamilton, AL?
- • Homeowners in Hamilton pay an average cost per month around $97.00 for insurance coverage.
Hamilton, AL - 2023 Housing Information
| Month | Current Home Value (2023) | Last Year Home Value (2022) |
|---|---|---|
| January | $129,362 | $114,588 |
| February | $132,018 | $115,697 |
| March | $134,792 | $117,109 |
| April | $134,838 | $118,677 |
Homeowners insurance will help cover the cost to repair or replace your Hamilton home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:
- Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Hamilton
- Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
- Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
- Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
- Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.
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Saving Money Tips on Hamilton Home Insurance
A great way to save money on Hamilton homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:
- Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
- Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
- Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
- Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.
Are you shopping for the best rate near or wihin the Hamilton area? Check out what homeowners are paying on average for Alabama homeowners insurance.
Elevation Review for Coastal Wind or Flooding Risk
| Elevation | Details | Homeowners Tips |
|---|---|---|
| 456 ft. | This is the average home elevation in Hamilton, AL | Did you know that the elevation in which your home resides is crucial to a home insurance policy because it determines the risk factor related to your home being in a flood zone. It is important to understand that your home is not covered for floods under a standard homeowners policy. You will need to speak with a local Alabama flood insurance agent about a flood insurance policy, please give us a call now at 888-620-1954. |
To get online quotes on your home and compare rates on home insurance premiums in Hamilton, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in Marion County.
Alabama Homeowners Insurance News & Information
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2025 – Study Shows Home Insurance Market Stabilizing Posted on Wednesday 11th December, 2024
According to a new report from Matic, the homeowner’s insurance market has shown signs of stabilizing roughly two years after major premium hikes and coverage challenges. Even though premiums are high, trends in the insurance industry show that a slowdown in premium growth may be coming. Here is a brief overview of the report and […]
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What’s the average home insurance rate for a $300K home in 2024? Posted on Monday 9th December, 2024
A recent report from Insurance.com found that the average homeowners insurance rate for a $300,000 in homeowners coverage hit $2,777 per year which breaks down to $231 monthly. The cost of homeowners insurance in some states can be extremely expensive, for years Florida has been know to have the highest premiums in the nation. When […]
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$4.5B Estimated In Insured Losses After 2024 Florida Hurricanes Posted on Wednesday 13th November, 2024
According to the Florida Office of Insurance Regulation, the three hurricanes that made landfall this year have caused more than $4.5 billion in estimated insured losses. Hurricane Debby, Helene and Milton all hit the state within two months of each other Helene and Milton struck just two weeks apart. State data show that over 269,000 […]
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I can’t afford my home insurance, what do I do? Posted on Saturday 9th November, 2024
According to data from the National Association of Realtors (NAR), the average U.S. insurance rate is $2,377 a year. The data also suggest that homeowners could see a 6% rise in rates by the end of the year which is in addition to the 20% increase over the two previous years. As climate change pushes […]
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How to Get the Best Homeowners Insurance Policy for Your Needs Posted on Wednesday 6th November, 2024
Having the proper insurance coverages in place is a critical part of owning a home, it protects your investment and finances in the event your home is destroyed by an unexpected disaster such as a fire, flood or severe storm. Understanding the different coverages that are available to homeowners is key to making sure you […]
Hamilton, AL Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Hamilton so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.
Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.
What is the average replacement cost coverage in Hamilton, AL?
- The average square footage in Hamilton is around 966 Sq. Ft. which would cost you around $100,500 to replace the home if you base the home on the price to build per square foot of $104.
Minimum Replacement Cost Total: $100,500
Location: Hamilton, Alabama (Marion County)
Average Building Cost Per Square Foot in Hamilton: $104 (low end)
Average Square Footage in Hamilton: 966 Sq. Ft.
| Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
|---|---|---|
| None or Very Minor Improvements | $104 | $100,500 |
| Some Additional Upgrades | $130 | $125,625 |
| Major Home Updates or Advancements | $156 | $150,750 |
The dwelling coverage is calculated by the average cost per square foot ($104) in Hamilton, Alabama times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $325,000 (Media price to build of $130 x 2500 sq. ft.) to cover the cost to rebuild your new home.
What is the difference between actual cash value and replacement cost value?
Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:
Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.
Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.