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If you live in the 20854 zip code, we can help you find a better homeowners insurance policy at a lower price. Homeowners within the city of Potomac have saved hundreds of dollars on their annual premium when using GetHomeInsuranceQuotes.com.
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20854 Average Homeowners Insurance Rates
If you are shopping for a HO-3 policy, which is considered the standard when it comes to homeowners insurance, we can help. In 20854 the average premium for homeowners coverage is $750 which compares very well to the national average of $1,249.
Our site makes it easy for you to find the insurer that offers the best coverage at the best rate in 20854. We are happy to answer any questions you may have and explain the different type of coverage while helping you determine what coverage levels are best for your family.
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We can help you find up to 12 homeowners insurance quotes quickly and from the comfort of your own home. In addition, we can do a discount review to make sure you are getting all available discounts on your policy.
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20854 Home Insurance Average Premiums
$500 /yr.
Shows Zip Code: 20854 lowest rates with discounts applied on average.
For the 20854, 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) | $500 /yr. |
| Average Coverage: | $750 /yr. |
| 2600 sq. ft. or higher (all discounts applied) | $1050 /yr. |
What is the average home insurance cost for a home in 20854?
- • The average homeowners insurance premium paid annually for a home in 20854 is around $750 per year.
What does it cost on average per month for home insurance in 20854?
- • Homeowners in 20854 pay a monthly average cost per month around $63.00.
What kind of discount could I get if I combine my home and auto insurance together in 20854?
- • Autoowners in 20854 can receive a 20% to 25% discount if they own a home and would like to group or bundle their car and home insurance together with one insurance company.
For shopping home insurance rates within the Potomac area, check out other zip codes nearby 20854.
Review average rates in another zip code:
20854 homeowners insurance rates
Home Replacement Cost Coverage in 20854
Average Building Cost Per Square Foot in 20854: $190
Location: Potomac, Maryland (Montgomery County)Average Square Footage in 20854: 5,002 Sq. Ft.
When building or updating a home, it's always good to review the average cost per square foot to build in 20854 before you start any project. Potomac homeowners pay on average around $190 per square foot to build a home. Another great reason to know the average cost to build is for your homeowners insurance policy. A standard homeowners policy will help you cover the replacement cost of your home due a fire or any other named perils on your policy. Calculating your dwelling coverage for your home in 20854 is extremely helpful when estimating how much replacement cost coverage you need. We highly recommend that you have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.
Here is how you determine your replacement cost. If we take an average home in 20854 and want to estimated the dwelling coverage, than we will need the square footage of the home which is 5,002 sq. ft. and the average cost to rebuild the home in this area is around $190 per square foot would be considered a base estimate cost. These two numbers would allow us to generate the replacement cost needed for an average size home in the Potomac area. If the home is new or has been upgraded, you will want to add $50 to $100 or more per square foot to equally cover the replacement cost to restore a home back to it's original condition.
| Home Improvement Status | Price per Sq. Ft. | Square Feet | Dwelling Coverage |
|---|---|---|---|
| Basic Home Features | $190 | 5,002 | $950,400 |
| Additional Upgrades & Added Features | $238 | 5,002 | $1,188,000 |
| Major Home Updates or Advancements | $285 | 5,002 | $1,425,600 |
It's important to understand that when you estimate your replacement cost of your home in the 20854 zip code area, it will be the cost to replace the structure of your home, not the additional value of the property that is factored in when purchasing a new home.
Best Homeowners Insurance Agencies in 20854
Donald Goldberg
Address: 12209 Lake Potomac Ter Potomac, MD 20854Phone: (301)983-6641
Website:
Best Home & Auto Insurance Agencies in 20854
Allstate Insurance Companies
Address: 1089 Seven Locks Rd Potomac, MD 20854Phone:
Website:
Info:
Pearce- Richard L
Address: 10113 River Rd Potomac, MD 20854Phone:
Website:
Info:
Corgan- Joseph A - State Farm Insurance Agent
Address: 7825 Tuckerman Ln, #202 Potomac, MD 20854Phone:
Website:
Info:
Eric Heckman - Allstate Agent
Address: 11325 Seven Locks Rd, Ste 219 Potomac, MD 20854Phone:
Website: http://www.allstateagencies.com/ericheckman/Welcome/
Info:
Donald Goldberg
Address: 12209 Lake Potomac Ter Potomac, MD 20854Phone:
Website:
Info:
Housing Demographics for 20854
Population Review for 20854 Zip Code
For the city of Potomac, the population within 20854 has increased to over 51,376 residents in population size. The current population total is 50,698. We have broken down the population based on race below. In 20854, there are over 24665 in male population and 26033 females.
| Population | Values |
|---|---|
| Total Population | 50,698 |
| White Population | 29949 |
| Black Population | 2763 |
| Hispanic Population | 3437 |
| Asian Population | 12722 |
| Hawaiian Population | 14 |
| Indian Population | 60 |
| Other Population | 740 |
| Male Population | 24665 |
| Female Population | 26033 |
| Population Estimate | 51376 |
Household Data for 20854
The average number of homes in 20854 is around 17,101, there are an average of 2.94 per household. The average house value according to local real estate values is around $950,400. Please review the following demographics below for average income and media age.
| Housing / Income Data | Values |
|---|---|
| Households Per Zipcode | 17,101 |
| Persons Per Household | 2.94 |
| Average House Value | $950,400 |
| Income Per Household | $217477 |
| Median Age | 47.8 |
| Median Age Male | 47.1 |
| Median Age Female | 48.4 |
| 20854 Details | Values |
|---|---|
| State | MD |
| State Full Name | Maryland |
| City Type | B |
| City Alias Abbreviation | |
| Area Code | 301 |
| City | Potomac |
| City Alias Name | POTOMAC |
| County | Montgomery |
| County FIPS | 031 |
| State FIPS | 24 |
| Time Zone | 5 |
| Day Light Saving | Y |
| MSA | 8872 |
| PMSA | 8840 |
| CSA | 548 |
| CBSA | 47900 |
| CBSA_DIV | 23224 |
| CBSA_Type | Metro |
| CBSA_Name | Washington-Arlington-Alexandria, DC-VA-MD-WV |
| MSA_Name | Washington-Baltimore, DC-MD-VA-WV CMSA |
| PMSA_Name | Washington, DC-MD-VA-WV PMSA |
| Region | South |
| Division | South Atlantic |
| MailingName | Y |
| Economic & Growth Review | Values |
|---|---|
| Number Of Businesses | 1191 |
| Number Of Employees | 12379 |
| Business First Quarter Payroll | 192115 |
| Business Annual Payroll | 864130 |
| Business Employment Flag | |
| Growth Rank | 0 |
| Growth Housing Units 2003 | |
| Growth Housing Units 2004 | |
| Growth Increase Number | 0 |
| Growth Increase Percentage | 0.0 |
| Metropolitan Details | Values |
|---|---|
| CBSA Population | 5582170 |
| CBSA Division Population | 1205162 |
| Congressional District | 01|08 |
| Congressional LandArea | 3977.06|859.85 |
| Delivery Residential | 17475 |
| Delivery Business | 400 |
| Delivery Total | 18315 |
| Preferred Last Line Key | V24207 |
| Classification Code | |
| Multi-County | |
| CSA Name | Washington-Baltimore-Arlington, DC-MD-VA-WV-PA |
| CBSA_DIV_Name | Frederick-Gaithersburg-Bethesda, MD |
| City State Key | V24207 |
| Land Area | 33.826000 |
| Water Area | 3.050000 |
| City Alias Code | |
| City Mixed Case | Potomac |
| City Alias Mixed Case | Potomac |
| Box Count | 0 |
| SFDU | 15488 |
| MFDU | 529 |
| State ANSI | 24 |
| County ANSI | 031 |
| ZIP Intro | |
| Alias Intro | |
| Facility Code | B |
| City Delivery Indicator | Y |
| Carrier Route Rate Sortation | D |
| Finance Number | 237884 |
| Unique ZIP Name | |
| SSA State County Code | 21150 |
| Medicare CBSA Code | 23224 |
| Medicare CBSA Name | Frederick-Gaithersburg-Rockville, MD |
| Medicare CBSA Type | Metro |
| Market Rating Area ID | 3 |
| County Mixed Case | Montgomery |
Maryland Homeowners Insurance News & Information
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Largest Insurer in California – Travelers Announces Home Insurance Rates Going Up 15% Posted on Monday 20th May, 2024
Travelers Insurance, which is one of the largest insurers in California, recently announced that they will be raising premiums by an average of 15% in the Golden State. This is just the latest rate increase or policy limitation by major insurance companies who blame the increases on spreading wildfire risks, inflation, and the cost of […]
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Should I raise my deductible to $10,000 to help offset the cost of rising premiums? Posted on Wednesday 15th May, 2024
According to industry reports, homeowners are raising their deductibles to $5,000 to $10,000 to help offset the cost of rising premiums. While raising a deductible into the stratosphere will absolutely lower your homeowner insurance premium, it does mean that you will have to cover your deductible amount in the event you have to make a […]
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Should I choose the minimum or maximum homeowners insurance coverage? Posted on Monday 13th May, 2024
As homeowner insurance rates rise across the country, some homeowners are opting for policies that offer minimal coverage to keep their premiums affordable. Unfortunately, this choice will leave them at higher risk and in a position where they may have to pay more out of pocket if they have to make a claim on their […]