Compare Best Homeowners Insurance | Get The Cheapest Rates

Navigating the vast world of homeowners’ insurance can feel daunting. From safeguarding your property against unforeseen damages to understanding countless policy options, it's a complex task.

But don't worry – TrySmartly is here to help you make a smarter decision. Our wealth of resources and information can help you make a smarter homeowners’ insurance decision that could result in savings. Get started now to see if you can save on homeowners’ insurance.

To help illustrate some of the best policies, we have prepared a comparative chart of annual and monthly premiums of some of the leading insurance providers. Check out the figures below to get a glimpse of potential costs.

Insurance Company	Average Annual Premium	Average Monthly Cost
Erie	$1,430	$119
State Farm	$1,500	$125
Allstate	$1,660	$138
USAA	$1,775	$148
Chubb	$1,935	$161
Amica Mutual	$2,004	$167
Nationwide	$2,180	$182
Foremost	$2,590	$216

USAA is only available to veterans, active-duty military personnel, and their families.

How Much Homeowners’ Insurance Do I Need?

The amount of homeowners’ coverage you choose will be specific to your needs and budget.

Here’s what most homeowners’ insurance covers:

Dwelling Coverage

This will cover the structure of your home and any attached dwellings like garages or sheds. This covers the physical structure of your home, including the walls and the roof, and is usually included in the standard package. Dwelling coverage should equal the cost of rebuilding your home from scratch, known as the replacement cost. Most insurance companies recommend dwelling coverage limits that are at least 80% of your home's replacement cost. If your home's replacement cost is $200,000, your dwelling coverage should be at least $160,000.

Personal Property Coverage

This covers the items inside your home, like furniture, appliances, and clothing. Most insurance companies set the default personal property coverage at a percentage of your dwelling coverage, typically around 50% to 70%.

Liability Coverage

Liability coverage protects you if someone is injured on your property. A typical homeowners’ insurance policy includes $100,000 to $300,000 in liability coverage, but you may consider more if you have significant assets that could be at risk in a lawsuit.

Additional Living Expenses (ALE) Coverage

If your home is damaged to the point where you can't live in it while it's being repaired, ALE coverage can pay for your temporary living expenses. This coverage is often set at about 20% of your dwelling coverage.

Coverage for High-Value Items

Standard homeowners’ insurance policies typically have limits for certain high-value personal items, like jewelry, art, or electronics. If you own high-value items, you might need additional coverage at an extra cost to cover these items fully.

Natural Disasters

Standard policies typically don't cover damage caused by floods or earthquakes. If you live in an area prone to natural disasters, consider purchasing additional coverage.

Best Homeowners’ Insurance

In the world of homeowners’ insurance, companies can be assessed on several pillars: reliability, customer satisfaction, coverage options, and cost-effectiveness.

With TrySmartly, you can explore these factors for free online. We simplify the decision-making process, equipping you with knowledge and convenience at your fingertips. As a sneak peek, here are some of the best homeowners’ insurance companies:

Provider	Coverage Options	Customer Satisfaction Rating (J.D. Power)	Average Monthly Premium	Discount Options
State Farm	Standard dwelling Personal property Personal liability Medical payments Optional identity restoration and increased liability limits	4.2 / 5	$122	Multi-policy Home alert protection Roofing discounts
Geico	Standard dwelling Personal property Personal liability Medical payments Optional flood and earthquake coverage	4.1 / 5	$115	Multi-policy Safety features Smoke-free homes
Progressive	Standard coverage Optional add-ons, including water backup and personal injury	3.8 / 5	$107	Multi-policy Protective devices Quote in advance

Best Homeowners’ Insurance for Veterans

USAA stands out as an insurance provider that has tailored its services to the needs of veterans, military personnel, and their families.

USAA's coverage is comprehensive, automatically including identity theft and personal property coverage. USAA also covers uniform replacement for active-duty or deployed members. The average monthly price for eligible members is $148.

USAA offers several discount opportunities, such as a bundling discount for those who purchase multiple insurance policies and a claims-free discount if you do not file a claim for a certain period.

Here are some prominent benefits and drawbacks of USAA:

Pros	Cons
More affordable rates Unique coverage options, such as uniform replacement Higher customer satisfaction ratings	Available exclusively to military personnel, veterans, and their families

Best Homeowners’ Insurance for Older Homes

Due to their aging structures and potentially outdated systems, older homes may require a specific type of homeowners’ insurance coverage. Amica stands out as one of the best homeowners’ insurance providers for older homes.

Amica's standard homeowners’ insurance policy covers the dwelling, other structures on the property, personal property, loss of use, and liability. They offer a "replacement cost" policy, which may be suitable for older homes with unique architectural elements that are expensive to replace. The average monthly cost is approximately $167.

Amica also offers several discount options, such as:

Loyalty discount for staying with them for at least two years

Multi-policy discount

Receiving bills electronically and paying automatically every month

Some advantages and disadvantages of Amica's homeowners’ insurance include:

Pros	Cons
Few customer complaints and high customer satisfaction Home Check app that helps with home maintenance Easy and fast online claim filing and tracking	Not available in Alaska and Hawaii

Best Homeowners’ and Auto Insurance Bundle

Bundling homeowners’ and auto insurance can simplify the insurance management process and lead to significant savings.

Due to their comprehensive coverage and substantial discounts, Erie and State Farm offer some of the best homeowners’ insurance and auto insurance bundles on the market. Let's take a look at their policies in more detail:

J.D. Power's 2022 U.S. Insurance Shopping Study ranked Erie among the top three in providing a satisfying auto and homeowners’ insurance purchase experience. Erie offers homeowners’ insurance that covers the dwelling, personal property, liability, and more, combined with auto insurance coverage for liability, medical costs, and physical damage. A typical multi-bundling discount results in up to 20% savings, but the price will vary based on your home's location and condition, type of vehicle, and driving record.

State Farm's homeowners’ insurance provides extensive coverage, including standard dwelling, personal property, liability, and medical payments, while their auto insurance includes a range of protection, including liability, comprehensive, and collision policies. Recognized by J.D. Power as a reputable provider of bundle offerings, a home and auto insurance bundle with State Farm can save you up to $833 yearly. However, this number is the average, and actual savings will vary depending on personal factors.

Other Types of Homeowners’ Insurance

Depending on the type of home, specific insurers offer tailored coverages. Here's a look at some of the best homeowners’ insurance for these unique circumstances:

Best Homeowners’ Insurance for Mobile Homes

Known for its extensive coverage, Foremost Insurance Group is a top pick for mobile homes. The company offers comprehensive coverage, including personal liability and property damage, as well as extras like food spoilage and locksmith coverage. Their add-ons include earthquake, identity theft, and replacement cost coverage for attached structures like patios and decks.

Foremost also offers discounts for protective devices. One thing to consider is that they are typically more expensive than the national average, with the average monthly cost being about $216, and they do not accept online applications.

Best Condo Insurance

Nationwide is a top provider of comprehensive condo insurance. They offer coverage specifically crafted to suit the needs of condo owners, covering personal belongings inside the condo, building additions and alterations, loss of use, and personal liability. Nationwide also offers optional coverages, such as for personal umbrella liability and brand-new belongings, for those seeking more comprehensive protection.

They also provide discounts for bundling multiple policies, condos with smart home technologies, gated communities, and if you have purchased your home within the past 12 months. The downside is that some discounts, like smart home technologies, are only available in some states.

How Much is Homeowners’ Insurance?

According to the National Association of Insurance Commissioners, as of 2023, the national average cost of homeowners’ insurance is about $1,820 per year or $152 per month.

However, the specific price can vary greatly based on several factors.

Value of Home and Belongings

The more your home and belongings are worth, the more it would cost to replace them, and consequently, the more you can expect to pay for coverage.

Location

Where your home is located can play a significant role in your homeowners’ insurance rates. Factors like local crime rates, the likelihood of natural disasters, and the construction cost in your area can all impact the homeowners’ insurance cost.

Deductible

This is the amount you're responsible for paying out of pocket before your insurance coverage kicks in. Policies with higher deductibles typically have lower monthly premiums.

Coverage Amount and Types

More comprehensive policies with higher coverage limits and additional coverages will usually be more expensive.

Home Features

The age of your home, the type of construction, the electrical and plumbing systems, and even the shape of your roof can all influence your insurance rates.

Credit Score

Some insurers can also use credit-based insurance scores to help predict the likelihood of a claim. A higher score can lead to lower premiums. However, some states prohibit quoting based on credit scores.

Homeowners’ Insurance Rates Per State

Homeowners’ insurance can also vary significantly by state due to differences in regional risks such as hurricanes, floods, and wildfires. For example, Florida residents usually pay higher premiums due to the high risk of hurricanes, whereas homeowners in Vermont, where there are fewer natural disasters, typically pay less.

Here is a state-by-state breakdown of the average annual and monthly costs of homeowners’ insurance as of 2023:

State	Average Annual Premium	Average Monthly Cost
National Average	$1,428	$119
Alabama	$1,631	$136
Alaska	$1,056	$88
Arizona	$1,268	$106
Arkansas	$2,123	$177
California	$1,225	$102
Colorado	$2,152	$179
Connecticut	$1,244	$104
Delaware	$679	$57
Florida	$1,981	$165
Georgia	$1,394	$116
Hawaii	$382	$32
Idaho	$905	$75
Illinois	$1,410	$117
Indiana	$1,225	$102
Iowa	$1,318	$110
Kansas	$3,083	$257
Kentucky	$2,009	$167
Louisiana	$1,992	$166
Maine	$947	$79
Maryland	$1,164	$97
Massachusetts	$1,199	$100
Michigan	$1,527	$127
Minnesota	$1,930	$161
Mississippi	$1,900	$158
Missouri	$1,769	$147
Montana	$1,736	$145
Nebraska	$2,951	$246
Nevada	$889	$74
New Hampshire	$736	$61
New Jersey	$775	$65
New Mexico	$1,789	$149
New York	$1,506	$126
North Carolina	$1,294	$108
North Dakota	$1,900	$158
Ohio	$1,140	$95
Oklahoma	$3,659	$305
Oregon	$723	$60
Pennsylvania	$760	$63
Rhode Island	$1,223	$103
South Carolina	$1,172	$98
South Dakota	$2,105	$175
Tennessee	$1,755	$146
Texas	$1,967	$164
Utah	$696	$58
Vermont	$658	$55
Virginia	$887	$74
Washington	$948	$79
Washington, D.C.	$893	$74
West Virginia	$1,125	$94
Wisconsin	$890	$74
Wyoming	$954	$79

How to Get the Cheapest Homeowners’ Insurance?

Finding affordable homeowners’ insurance involves more than just looking for the lowest homeowners’ insurance premium. It's about securing comprehensive coverage that fits your needs at a price point that aligns with your budget.

That said, here are some tips that could help you in your quest for cost-effective homeowners’ insurance:

Compare Quotes

It's not just about finding the cheapest policy but the one that provides the best value for your needs. To find the best deal on coverage, get homeowners’ insurance quotes from at least three providers. Compare the coverage types, premiums, deductibles, discounts, and customer service ratings.

Bundle Policies

If you need multiple types of insurance, such as auto and homeowners, you might be able to get a discount by purchasing both from the same company.

Increase Your Deductible

A higher deductible means you're willing to pay more out of pocket in the event of a claim, which can lower your premium. However, be sure you can afford the deductible in case of a loss.

Make Your Home Safe

Many insurers offer discounts for home safety features such as security systems, smoke detectors, and deadbolt locks. Others may offer reductions if your home is new or is made of materials resistant to damage.

Ask About Discounts

Don't hesitate to ask insurers about additional discounts that may be available. These can include promotions for being a new homeowner, staying with the same insurer for several years, or even being claim-free for a certain period.

This table summarizes some of the top insurance groups' bundles:

Insurance Provider	Typical Bundling Options	Potential Savings
Geico	Auto + Home, Auto + Renters	Up to 25% on auto policy and 15% on homeowners’ policy.
State Farm	Auto + Home, Auto + Renters	Up to 17% when combining home and auto insurance.
Progressive	Auto + Home, Auto + Renters, Auto + Condo, many other combinations available	Average of 12% savings on auto policy when bundled with home, condo, or renters.
Allstate	Auto + Home, Auto + Renters	Up to 25% off auto premium and 35% off home premium.
USAA	Auto + Home, Auto + Renters	Up to 10% on homeowners’ policy and 15% on auto policy.

Homeowners’ Insurance FAQ

If you still have lingering questions, check out this frequently asked questions section for more clarity.

What Does Homeowners’ Insurance Cover?

Standard homeowners’ insurance covers dwelling protection (the structure of your home), other structures like garages or fences, personal property inside the home, liability protection, and additional living expenses.

If you have high-value items like jewelry, electronics, and art, you may need to purchase add-on protection for an additional cost. Also, most providers do not include coverage for certain types of natural disasters like earthquakes and floods. You would need to purchase add-on coverage for those instances.

How Can I Get Cheap Homeowners’ Insurance?

Securing affordable homeowners’ insurance involves:

Comparing quotes from various providers

Considering bundling policies

Increasing your deductibles

Making your home safer

Asking for other potential discounts

But remember, the aim is not just to find the cheapest policy but one that offers the necessary coverage at a cost-effective price.

Can I Get Homeowners’ Insurance Online?

Many insurance companies provide online services where you can get quotes, customize your policy, and even purchase your homeowners’ insurance.

Compare Homeowners’ Insurance