STORM2K

The distinction of being the riskiest place to own a home, and the most expensive place to insure one, fell to Texas, whose residents on average had to cough up $880 to protect their homesteads. That was more than three times the $287 paid by residents of Wisconsin, the least expensive state.

A whole host of factors can affect the prevailing homeowners rate in a given state -- including regulatory policy and the level of industry competition -- but by far the most important are the state’s propensity to be hit by a variety of natural disasters and its population density, says Alejandra Soto, spokesperson for the New York-based Insurance Information Institute.

Referring to Texas and Oklahoma, she says, “That part of the country gets hit with lots of things.” In addition to the hurricanes that occasionally menace Texas, residents of the two-state area must cope with the damage caused by snow, wind, hail and lightning, to name the most prevalent menaces. (The high Texas rate also reflects a dispute over responsibility for cleaning up household mold, and insurers' fears that they might be on the hook for substantial claims.)