When budgeting for your monthly expenses, one of the biggest line items will likely be insurance. There are several types of insurance most people carry, including home, auto, medical, and life insurance. So how much should you expect to pay in total for insurance plans each month? Let's break it down by type. For home insurance, costs can vary quite a bit based on factors like location, size and value of home, and level of coverage. But on average, you may pay between $100 to $300 per month for a typical home insurance policy. This provides protection against things like fire, theft, and natural disasters. Make sure to shop around to find the best rate.

Auto insurance is required in most states. Average costs range from $100 to $200 per month for basic liability coverage. However, rates are based on many factors like age, driving record, type of vehicle, and level of coverage. Going with a higher deductible can reduce your monthly premiums. Also, look for discounts like safe driver, low mileage, and anti-theft devices. According to the Insurance Information Institute, $148 per month is what the average American pays for car insurance.

Health insurance costs have risen steadily over the years. Expect to pay $300 to $600 per month for an average individual medical insurance plan. Family plans are more expensive, often $800 to $1500 or more per month. The Affordable Care Act provides subsidies based on income. Employer-provided plans may offer better rates. Shop the healthcare marketplace for deals.

Term life insurance is affordable protection for your loved ones. A $250,000, 20-year term policy for a healthy 30-year-old may cost $20 to $50 per month. Whole life and universal life plans are more expensive but build cash value. Get quotes from highly-rated insurers. Your needs depend on income, debts, and dependents.

In total, you may budget $500 to $1,200 or more for home, auto, health, and life insurance combined each month. Take time to shop around, compare rates, and look for discounts. Finding the right insurance coverage at the best price takes some work but, with the right team, you'll have no issue protecting what matters most. Here at FLB Insurance Agency, we bring experience and know-how to every policy. Contact us today to learn more!