Along with less square footage, tiny-home owners also see smaller insurance bills. A policy for the average tiny house is 106% cheaper than coverage for a normal-sized home, ValuePengiun.com found.
For owners of tiny houses in Hawaii, the cost of home insurance is 484% cheaper than it is for a policy that covers a conventional size house (2,100 square feet), according to ValuePengiun. The average tiny house policy in the Aloha State is $186 annually.
Depending on the state, downsizing from a full-size home to a tiny house can save a homeowner an average of 52% on the cost of insurance annually. The personal finance research site defined tiny houses as those around 400 square feet.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
