Compare home insurance quotes for September 2024

Comparing quotes from top home insurance providers like Allstate, Chubb and State Farm may help you find the right carrier for your needs.

Written by

• • Personal Lines

• • Auto insurance
• • Home insurance

Natalie Todoroff is an insurance writer and industry analyst for Bankrate. She is based in San Francisco and holds a personal lines insurance license.

• • Property and Casualty

• • Auto insurance
• • Homeowners insurance

Shannon Martin is a licensed insurance agent and Bankrate analyst with over 15 years of experience in the industry. She enjoys helping others navigate the insurance world by cutting through complex jargon and empowering readers to make strong financial decisions independently.

Edited by

• • Personal Lines

• • Property & casualty insurance
• • Rate analysis

Mariah Posey is an auto, home and life insurance editor and writer for Bankrate.com. She aims to make the insurance journey as convenient as possible by simplifying industry lingo and implementing thoughtful content design to provide readers clear answers to their questions.

Reviewed by

Mark Friedlander is director of corporate communications at III, a nonprofit organization focused on providing consumers with a better understanding of insurance.

Edited by

• • Personal Lines

• • Property & casualty insurance
• • Rate analysis

Mariah Posey is an auto, home and life insurance editor and writer for Bankrate.com. She aims to make the insurance journey as convenient as possible by simplifying industry lingo and implementing thoughtful content design to provide readers clear answers to their questions.

Reviewed by

Mark Friedlander is director of corporate communications at III, a nonprofit organization focused on providing consumers with a better understanding of insurance.

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Compare homeowners insurance quotes How to shop for homeowners insurance How to compare home insurance quotes What risks does my home insurance policy cover? What does home insurance not cover? Compare home insurance quotes by state Other factors to consider when comparing home insurance quotes Home insurance coverage for other kinds of property How to insure your home in 4 steps 3 tips and tricks to keep your home safe Frequently asked questions Methodology

What to know first

A home insurance policy can cover more than just your home. Standard home insurance policies also include financial protection for other structures, personal belongings and a level of liability coverage, but many insurance carriers offer additional optional coverage types. Knowing how to assess a home insurance quote may help you better understand which carrier might be the best fit for your needs.

Bankrate's insurance editorial team, which includes licensed agents, has compiled information worth considering when shopping for home insurance quotes. Our industry expertise, combined with our analysis of average rate data from Quadrant Information Services, might help you understand the process of comparing home insurance quotes. Our goal is to streamline your shopping to help you find the best coverage for your needs.

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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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This content is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate.com. HomeInsurance.com LLC services are only available in states where it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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• Compare homeowners insurance quotes
• How to shop for homeowners insurance
• How to compare home insurance quotes
• Compare home insurance quotes by state
• Other factors to consider when comparing home insurance quotes
• Home insurance coverage for other kinds of property
• Frequently asked questions
• Methodology

Compare home insurance rates

Answer a few questions to see personalized rates from top carriers.

Powered by Coverage.com (NPN: 19966249)

This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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Compare homeowners insurance quotes by company

There are hundreds of home insurance companies on the market, which may make it confusing to know where to start. Bankrate is aware that most homeowners would appreciate an estimate of how much they can expect to spend on a policy first. In the United States, the average cost of homeowners insurance is $2,285 per year for $300,000 in dwelling coverage. This can help you gauge what other Americans budget for their home insurance, but this is just a statistical average. Your exact rate is likely to be different.

Insurers use a number of personal rating factors to calculate home insurance premiums, such as your claims history, where you live, the age of your home and the amount of coverage you need. Every property insurer has its own rating system, so it’s helpful to compare homeowners insurance rates from several providers to find the best price.

Additionally, you may need more or less coverage than the standard $300,000 dwelling limit used as our base profile. We’ve included average rates across a range of coverage levels for the largest companies by market share in the country to help conduct a home insurance comparison. Each company on this list was included in the 2023 J.D. Power U.S. Home Insurance Study, and each received an AM Best financial strength rating of “excellent” or “superior.”

• $300K dwelling coverage
• $350K dwelling coverage
• $450K dwelling coverage
• $750K dwelling coverage

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Home insurance rates are known to fluctuate frequently, but you can rely on Bankrate to offer you the latest options available.

Top home insurance company reviews

Who this may be best for:

Homeowners who prefer multiple policy management options

Allstate offers unique homeowner coverage options and easy-to-navigate digital tools. These features help the carrier tie for Best Home Insurance Company Overall in the 2024 Bankrate Awards. Allstate also won a Bankrate Award for Best for Bundling Home and Auto Insurance. Policyholders have the flexibility to purchase a policy, make changes or pay bills directly with its extensive network of agents or independently via the mobile app. In the 2024 J.D. Power Insurance Digital Experience Study, Allstate was ranked above average in the shopping and service categories. Allstate advertises nine different endorsements and plentiful discount opportunities to help reduce your premium.

Who this may be best for:

Homeowners looking for unique coverage add-ons

Also known as AmFam, American Family’s average annual premiums are considerably lower than the national average. The company also offers savings opportunities, including a generational discount for policyholders aged 18 to 30 whose parents are also American Family members, and a discount for renovated homes. You could even get a discount on an ADT system and other smart home devices if you’re an American Family policyholder. AmFam also has a unique selection of coverage endorsements, like hidden water damage and matching siding protection.This company, however, isn’t available in all states, so your eligibility may vary.

Who this may be best for:

Homeowners who need high-value coverage

Chubb is known for providing insurance for high-value homes. Its standard home insurance policies include enhanced coverage options that usually cost extra, like extended replacement cost coverage. Its coverage limits are also higher than most insurers, with liability coverage up to $30 million. Boutique-like coverage options and risk mitigation consulting services are why Chubb won the 2024 Bankrate Award for Best For High-Value Homes. While Chubb also scored lower than average for overall customer satisfaction in the 2023 J.D. Power Home Insurance Study, it does have agents available stateside and abroad, making it a stand-out option for policyholders with overseas vacation homes.

Who this may be best for:

Homeowners on a tight budget

According to our research, Erie has some of the cheapest average homeowners insurance rates in states where it’s available. It also offers guaranteed replacement cost coverage, which aims to give homeowners the total cost to rebuild their homes, regardless of the dwelling limit listed on their policies. Another perk that sets Erie apart is its pet coverage — while most providers exclude birds and fish, Erie offers up to $500 in coverage for animals, birds and fish included. However, Erie is only available in 12 states, so a homeowners insurance policy through Erie may not be an option for you.

Who this may be best for:

With three packages available (Standard, Enhanced and Premier), Farmers could be an excellent option for people purchasing their first homeowners policy who don’t want to go through the trouble of crafting custom coverage. Homeowners can modify these packages further with endorsements like Eco-Rebuild, which would cover the cost of rebuilding a home following a covered loss with more environmentally friendly materials. Still, it is important to know that Farmers isn’t available in every state. It’s also among the most expensive companies on our list, on average. But this company may be worth considering for people looking for a streamlined process when purchasing a homeowners insurance policy.

Who this may be best for:

Homeowners who also want banking products

On average, Nationwide is one of the cheapest homeowners insurance companies on our list, which helped it earn Bankrate's Best Budget Home Insurance Company award for 2024. The company offers add-ons like Better Roof Replacement, which will replace your roof with higher-quality materials in the event of a covered claim. Homeowners who prefer to manage their home insurance policy and financial products like retirement plans and life insurance with one company may find Nationwide appealing, as well. Nationwide may not be ideal for you, though, if you’re more concerned with customer service than price. It scored lower-than-average in a study of customer satisfaction, according to J.D. Power.

Who this may be best for:

Homeowners looking to bundle their home and auto policies

If you own a home, you could consider bundling home and auto insurance together with Progressive to take advantage of its multi-policy discount. On its website, Progressive advertises that new policyholders can save up to 20 percent when they bundle home and auto together. Progressive homeowners insurance is only available in 40 states and its coverage options and add-ons are somewhat limited, but it could still be a great option for people looking to purchase multiple insurance products from the same company. Progressive also has some of the lowest average homeowners rates of the companies we analyzed.

Who this may be best for:

Homeowners who value customer satisfaction

State Farm is the largest homeowners insurance company in the country by market share — although it doesn’t currently write home policies in Massachusetts, Rhode Island or California. The company boasts a high customer satisfaction rating per J.D. Power for overall customer satisfaction and its digital tools. Like Allstate, State Farm also boasts an impressive, nationwide network of agents. Additionally, State Farm’s average premium for homeowners insurance is on par with the national average.

Who this may be best for:

Homeowners who need customizable coverage

Travelers scored third-lowest in overall customer satisfaction in the 2023 J.D. Power U.S. Home Insurance Study. Even so, if you own an environmentally friendly home, Travelers could offer cheaper home insurance through its green home discount. With this program, you may qualify for a 5 percent discount if you’ve received a “green home” certification from the Leadership Energy and Environmental Design (LEED) organization. Travelers also offers a lengthy list of insurance endorsements for homeowners looking to craft a bespoke policy, including identity fraud coverage, additional replacement cost protection and special personal property coverage.

Who this may be best for:

Homeowners who need military-focused coverage

USAA is best known for its military-focused coverage, inexpensive premiums and high customer service ratings. Its well-rounded insurance offerings helped it tie for Best Home Insurance Company Overall in the 2024 Bankrate Awards. Although not officially ranked due to eligibility restrictions, USAA earned a score of 881/1,000 in the 2023 J.D. Power Home Insurance Study — the highest score of all the companies included. USAA also has a lower-than-average premium for home policies with $300K in dwelling coverage, according to proprietary rate data, and your belongings are automatically insured at replacement cost value. However, USAA has strict eligibility requirements and is only available to military members, veterans and their eligible family members.

How to shop for homeowners insurance

When comparing home insurance quotes, preparation is key. Having a copy of your current policy on hand along with an idea of what changes you may like to make on your new policy can save you time and stress down the road. Most insurance companies ask for the same type of information, such as:

• Personal details: Along with your name and date of birth, you are typically asked about your marital status, how long you have lived in the home and who may live there with you. If you own your home with a spouse, family member or anyone else, you will also need to provide their information. In some states, you may also be asked to provide your social security number in order to check your credit-based insurance score.
• Property details: A carrier will need your address, including your ZIP code. Companies might be able to look up additional information, but you may want to be prepared with your home’s construction year, the age of the roof, square footage, custom features and material types of interior and exterior finishes, and home systems like your HVAC.
• Insurance history: You will likely be asked if your residence already has insurance, which may make you eligible for a discount. Insurance companies will also ask if the home has any existing damage, if there have been any prior claims filed on the property, and if you have a mortgage.
• Coverage needs: An insurer will review your coverage needs when issuing a quote. This will include your policy limits, deductibles and endorsements. They will also ask about additional risk factors such as running a business from your home, having a pool or if you own a dog. While some of the factors can raise a red flag, in most cases, it is a way for your agent to advise of the extra coverage you may need to purchase to cover any insurance gaps.

Bankrate tip: home inventory

Creating a home inventory of your personal belongings may help you decide how much home insurance you need, specifically personal property coverage. Even if you already have coverage in place, an inventory might illuminate insurance gaps you are unaware of. Additionally, a home inventory may help expedite the claims process if you do experience a covered loss. To create a home inventory, you might consider the following steps:

1. Make an inventory list for each room and take photos to accompany your list.
2. For big-ticket items like furniture, appliances and electronics, include the make and model, value, serial number, purchase date and receipts if you have them.
3. Take a general count of smaller objects and estimate their value.
4. Make note of any especially valuable items, like jewelry or antiques, that may require scheduled personal property coverage.
5. Store your inventory in a safe place. Creating and storing a digital copy of your inventory may help ensure you can access it easily at any time.
6. Update your inventory regularly with any new or sold items.

How to compare home insurance quotes

Most insurance professionals agree that comparing home insurance quotes is one of the best ways to find the rates, coverage options, discounts and other policy features that work best for you. Here’s how to go about it, step by step:

Step 1: Think about your coverage needs

You and your next-door neighbor may have similar homes but wildly different home insurance needs. To help you determine how much home insurance is right for you, it is first helpful to understand what a typical home insurance policy includes — and excludes — so you can structure a policy that works for you.

What does home insurance typically cover?

Home insurance policies are divided up into coverage types. Each coverage type is subject to its own limit (either a specific dollar amount or percentage) and is designed to financially protect homeowners in different ways. Below, we’ve detailed the coverage types found in a standard home insurance policy:

What does home insurance not cover?

Home insurance is not all-inclusive or all-encompassing. Some common exclusions include:

• Earthquake and land movement damage
• Flood damage
• Wear and tear and neglect
• Pest damage
• War
• Nuclear hazard
• Power failures
• Government action
• Theft of a dwelling while under construction
• Vandalism and malicious mischief to a dwelling left vacant for more than a specified amount of time, typically 30 or 60 consecutive days
• Intentional bodily injury or property damage by the insured

The state you live in may also determine what perils are excluded from standard home insurance policies. Regions with frequent threats of loss from tornadoes and hurricanes may have wind and hail exclusions. For example, Texas windstorm insurance is an endorsement purchased by many residents with homes near the Gulf of Mexico. And some Florida home insurance policies can include a separate hurricane deductible. California homes in high-risk wildfire zones may have limited wildfire coverage, as well, or an insurer may exclude wildfire damage from the policy altogether.

Just because something is excluded from your home insurance policy does not mean you can’t be covered for it, though. Home insurance providers sell separate endorsements for earthquakes, floods and other perils to protect your home further.

Bankrate tip: ACV vs RCV

Your home insurance personal property coverage will either cover your items at actual cash value (ACV) or replacement cost value (RCV), depending on what your insurer offers. In the event of a covered loss, ACV pays out the current value of your items after taking depreciation and your deductible into account. RCV, on the other hand, pays out what it would cost to replace the item with a new version today, minus the deductible. Some policies automatically cover personal property at actual cash value, but others require the homeowner to purchase an RCV endorsement. If an insurer offers RCV and ACV policies, an RCV policy will likely result in a higher premium.

For example, suppose your living room furniture cost $6,000 five years ago when you bought it. If it depreciated 7 percent a year, today's current value is about $3,900, a depreciation of $2,100. However, to replace it with a similar living room set costs about $7,000. If you have a $1,000 policy deductible, here are how the two options would play out if that furniture were destroyed in a covered loss:

• ACV: $7,000 (replacement cost) - $2,100 (depreciation) = $4,900 (actual cash value) - $1,000 (deductible) = $3,900 (claim payout)
• RCV: $7,000 (cost new of similar furniture) - $1,000 (deductible) = $6,000 (claim payout)

Step 2: Get quotes from several home insurance companies

Once you know what you are looking for in a company, experts recommend requesting quotes from several home insurance providers that might fit your needs. You can request quotes multiple ways:

• Get a home insurance quote online: Online home insurance quotes are a great place to begin. Some carriers may allow you to purchase your policy entirely online, while others will put you in contact with an agent to complete the process. Getting a handful of quotes online can help give you a better estimate of what your home insurance policy will cost.
• Use a captive insurance agent: A captive agent works for one insurance provider. As such, working with a captive agent is typically best if you’ve already chosen a company but need help building or finalizing your policy.
• Go through an independent agent or broker: If you prefer personalized service and want help gathering quotes, then working with an independent insurance agent or broker could be the best choice. Unlike captive agents, independent agents can provide you with home insurance quotes from multiple companies. Independent agents and brokers typically earn a commission from your policy, so be mindful of upselling.

Experts recommend collecting between three and five home insurance quotes to better gauge what your policy will really cost.

Bankrate tip: switching home insurance companies

Even if you already have a home insurance policy in place, you might consider shopping around on occasion to make sure you're getting the coverage and customer service you need at the best price. Home insurance isn’t a “set it and forget it” type of expense; if you’re hit with a steep rate increase, or you’re not satisfied with your current carrier, collecting quotes can be an effective way to find the right policy at the right price.

If your coverage needs have changed — maybe you want to add flood insurance or you inherited a valuable jewelry collection — you might start by getting quotes for any additional coverage needs with your current carrier. You can then compare these with quotes for the same coverage types and limits from a few other carriers.

In most cases, you can switch home insurance carriers at any time — even if your premium payments come from an escrow account.. You may want to shop early, and end your old policy on the same date your new one starts to avoid a lapse in coverage. A coverage lapse could leave you and your home financially vulnerable and could raise your rates.

Step 3: Review each home insurance quote for accuracy

Once you have your quotes on hand, it’s time to go over them with a fine-toothed comb for accuracy. Review the documentation you receive and ensure that each home insurance quote is in line with the information you provided. Your coverage amounts may vary based on each insurance company’s valuation tool, but as long as your quotes are in the same ballpark, you should be able to compare them.

Aside from coverage amounts, you will also want to take a close look at the deductible, the policy type and whether your belongings are insured on an actual cash value or replacement cost value basis. These may seem like minor details but can have a major impact on what you wind up paying for your policy.

Step 4: Choose your home insurance policy

Your budget is an important consideration when searching for the perfect home insurance policy. However, it is not the only thing to think about. Hopefully, you never need to file a home insurance claim, but if disaster strikes, you’ll want to know that your insurance company will be there for you when you need it. As such, experts recommend choosing a company that has a strong financial history, high rates of customer satisfaction and robust coverage offerings.

Example of how to compare homeowners insurance quotes

To help you understand how to compare homeowners insurance quotes, which often have differing coverage limits and premiums, we’ve included two examples below. Please note that these are example quotes and not representative of actual quoted premiums.

• Example quote #1
• Example quote #2

• Coverage A, Dwelling: $275,000
• Coverage B, Other Structures: $27,500
• Coverage C, Personal Property: $137,500
• Coverage D, Loss of Use: $55,000
• Coverage E, Liability: $300,000
• Coverage F, Medical Payments: $1,000
• Deductible: $1,500

• Coverage A, Dwelling: $293,000
• Coverage B, Other Structures: $29,300
• Coverage C, Personal Property: $146,500
• Coverage D, Loss of Use: $58,600
• Coverage E, Liability: $100,000
• Coverage F, Medical Payments: $1,000
• Deductible: $1,000

The first thing you may notice, besides the differing premiums, is the different dwelling coverage amounts. Because each home insurance company uses its own valuation tool to determine the rebuilding cost of a home, it’s common to get quotes for slightly different dwelling amounts from different companies. Because many other home insurance coverage types default to a percentage of the dwelling amount, these coverage limits also vary between the quotes.

The first quote has a lower dwelling limit, but a higher liability limit and a slightly higher deductible than the second quote. If someone is injured on your property, for example, and you are found liable for their injuries, the first quote will pay up to $300,000 for your liability protection, whereas the second quote will only pay up to $100,000. If you file a claim for damage to your home, you’ll have to pay $1,500 out of pocket — your deductible limit — if you purchase the first quote, and only $1,000 if you purchase the second quote.

There isn’t a right or wrong answer as to which quote is better. The quote you choose will depend on your needs, budget and risk-tolerance level. If you prefer a higher dwelling coverage amount and are less concerned about your liability limit, for example, the second quote may be better suited for you. Coverage types B, C and D are predetermined percentages of coverage A, so if you need more coverage than what is first offered, you can usually increase those limits for an additional premium. You may want to work with a licensed agent if you have any questions or require specialty coverage.

Compare home insurance quotes by state

Homeowners insurance rates vary significantly by state. Our homeowners insurance quote comparison shows that the most expensive state on average for home insurance with $300K in dwelling coverage is Nebraskaat $5,655 per year. The cheapest average state for home insurance is Vermont, at $806 per year. Even if the cost of home insurance is higher than average in your state, you may be able to find more affordable rates by comparing homeowners insurance quotes and looking for discounts that apply to you.

Average home insurance cost by state

The average annual home insurance premium for a home with a dwelling coverage amount of $300,000.