Pownal, VT Home Insurance Quotes!

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Affordable home insurance is just one of the benefits of living in our beautiful city. The cost of homeowners insurance in Pownal is around $752 per year. With all major discounts applied you can get rates as low as $502/yr. Homeowners in larger homes that need more dwelling coverage to accurately replace the home value for a 2,500 square foot home or bigger will see rates a little higher in the $1,052 per year range. Getting the best coverage with the right company for your home in Pownal starts with our excellent home insurance shopping process. Enter your zip code to review the best rates and coverage options available.

Pownal Home Insurance Coverage Types

Homeowners insurance comes in a variety of different types and each one has been designed to specifically insure a certain type of housing unit. One type of coverage is for a single-family house while an HO-4 policy is designed for an apartment.

Here is a quick overview of the different types of insurance that are available to you as a homeowner.

  • HO-3: A standard home, requires a standard homeowners policy and that is exactly what an HO-3 policy is designed to insure. It is the most popular type of homeowners policy being sold and will protect you from all perils except those excluded in the wording of the policy.
  • HO-6: Co-op and condo dwellers require a specific type of homeowners protection and an HO-6 fills those needs. It offers protection for both your personal property as well as the various parts of the building that you own. The walls and mechanical fixtures in your particular unit are examples of covered materials.
  • HO-8: Older homes come with their own set of challenges, one being that it often costs more to rebuild them than they are worth due to building methods and the type of materials used in their construction.
    In many cases, these homes are not eligible for a HO-3 policy so the only affordable way to protect them is with an HO-8 policy. An HO-8 policy will only cover 11 specific perils, and coverage levels may not pay out the entire cost to rebuild the house.
  • HO-4: The majority of us know this as renters insurance. It covers the personal possessions in your apartment from damage, destruction and even theft.

One of the major benefits of an HO-4 policy is the liability coverage that it offers. This portion of the policy will pay out if someone is injured in your apartment. It will cover the cost of medical bills, as well as a legal defense if you are sued because someone was injured in your apartment.

Pownal is a Great Place to Call Home, Here are the Facts

Pownal is one of the crown jewels of the Vermont landscape and a current total of 8,214 homeowners currently call this beautiful little city home. There are a variety of housing options available in Pownal including new home purchase opportunties to great fixer uppers. Regardless of whether you are looking for an apartment, single-family house or a condo, we have you covered.

In Pownal, there are 1,120 households per zip code and the average number of people living in a household is 3.

In Pownal, the average household lives on an income of $57,813, which is slightly below the national average, but still very impressive. Luckily, that $57,813 goes pretty far in the Pownal housing market with the median house price coming in a $159,500.

Compare Homeowners Insurance Rates in Pownal, VT!

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Enter your Zip Code:    
Easily compare up to 12 competitive Pownal, VT rates all in one place!

Average Rates Nearby Pownal

Are you looking for homeowners insurance in a city near Pownal? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!

Home Insurance Rates by Zipcode in Pownal, VT

Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Pownal.

05261,     

Pownal, VT Home Insurance Average Premiums

Local Pownal, VT home insurance quotes comparison

$502 /yr.

Shows Pownal's lowest average rates with discounts applied.

For the city of Pownal, 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)
$502 /yr.
Average Coverage:$752 /yr.
2600 sq. ft. or higher
(all discounts applied)
$1052 /yr.

What is the average home insurance cost for a home in Pownal, VT?

  • • The average homeowners insurance premium paid annually for a home in Pownal is around $752 per year.

What does it cost on average per month for home insurance in Pownal, VT?

  • • Homeowners in Pownal pay an average cost per month around $63.00 for insurance coverage.

Pownal, VT - 2023 Housing Information

Month Current Home Value (2023) Last Year Home Value (2022)
January $246,442 $235,028
February $249,403 $238,622
March $253,195 $242,157
April $253,699 $244,720

Homeowners insurance will help cover the cost to repair or replace your Pownal 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 Pownal
  • 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.
Enter your Zip Code:    

Get up to 12 competitive Pownal, VT homeowners insurance rates all in one place!

Enter your Zip Code:    
Easily compare up to 12 competitive Pownal, VT rates all in one place!

Saving Money Tips on Pownal Home Insurance

A great way to save money on Pownal 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 Pownal area? Check out what homeowners are paying on average for Vermont homeowners insurance.

Elevation Review for Coastal Wind or Flooding Risk

Elevation Details Homeowners Tips
1158 ft. This is the average home elevation in Pownal, VT

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 Vermont 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 Pownal, 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 Bennington County.

Vermont Homeowners Insurance News & Information

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    Florida has it all, constant sunshine, beaches,plenty of restaurants and entertainment. It also has some of the highest homeowner insurance premiums in the country. According to Value Penguin, the Sunshine State has the 14th most expensive homeowner insurance rates in the country with the average premium coming in at $1,727. While insurance premiums are high all […]

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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 […]

Pownal, VT Dwelling Coverage Estimate

It is important to calculate your dwelling coverage for your home in Pownal 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 Pownal, VT?

- The average square footage in Pownal is around 1,003 Sq. Ft. which would cost you around $159,500 to replace the home if you base the home on the price to build per square foot of $159.

Minimum Replacement Cost Total: $159,500

Location: Pownal, Vermont (Bennington County)

Average Building Cost Per Square Foot in Pownal: $159 (low end)

Average Square Footage in Pownal: 1,003 Sq. Ft.

Home Improvement StatusPrice per Sq. Ft.Dwelling Coverage
None or Very Minor Improvements$159$159,500
Some Additional Upgrades$199$199,375
Major Home Updates or Advancements$239$239,250

The dwelling coverage is calculated by the average cost per square foot ($159) in Pownal, Vermont 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 $496,875 (Media price to build of $199 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.