The cost of homeowners insurance is determined by different factors:Replacement costIf your home is destroyed in a fire, how much would it cost to rebuild it? The actual cost is the replacement value. This amount includes materials, labor, inflation, and availability of building materials. Estimated replacement cost is the difference from the current tax assessment or market value of your home. This cost accounts for the actual cost to rebuild your home.Location, location, locationRisks like extreme weather, distance to a fire hydrant, and crime rate all can impact your premium. For example, you might pay more for waterfront property or if you're located in an area prone to flooding. The cost of construction varies by region, which is another factor that determines the cost of your homeowners policy.Age and condition of specific things like the age of the roof, building materials and renovation of home systems.Your deductible amount. The higher your deductible you select, the lower your premiumHome safety devices like smoke detectors, burglar alarms and dead bolt locks can help you stay safe and lower the costs, Compare Home Insurance Quotes Side-by-Side Save an average of $482/year when you shop homeowners insurance with The Zebra. Compare home insurance quotes from Progressive, Allstate, Liberty Mutual, and other top providers—all in one place., Protect your house and family with a homeowners insurance policy through GEICO. Get started with a free home insurance quote online now!.