Bundling your home and auto insurance and shopping around are good ways to save money on home insurance. Make sure to ask about any discounts that may be available to you.
State Farm has the cheapest home insurance rates at $2,427 a year, or $202 a month, on average. Allstate is only slightly more expensive at around $213 a month. However, each company’s rates vary by customer.
Your actual rate depends on factors like your location, your home’s features and, in most states, your credit history. Comparing home insurance quotes helps you find the cheapest rate for your situation.
Company | Annual rate | Monthly rate | LendingTree score | |
---|---|---|---|---|
![]() | State Farm | $2,427 | $202 | ![]() |
![]() | Allstate | $2,560 | $213 | ![]() |
![]() | Chubb | $2,606 | $217 | ![]() |
![]() | Progressive | $2,648 | $221 | ![]() |
![]() | Nationwide | $3,055 | $255 | ![]() |
![]() | American Family | $3,072 | $256 | ![]() |
![]() | Travelers | $3,149 | $262 | ![]() |
![]() | Farmers | $3,801 | $317 | ![]() |
![]() | USAA* | $2,507 | $209 | ![]() |
The location of your home affects how much you pay for home insurance. If your home insurance rate is higher than your state average, it’s good to shop for cheaper quotes.
State | Average rate | Cheapest company | Cheapest premium |
---|---|---|---|
Alabama | $3,217 | Allstate | $2,228 |
Alaska | $1,475 | Western National | $1,235 |
Arizona | $2,623 | State Farm | $1,737 |
Arkansas | $3,722 | MetLife | $2,519 |
California | $1,260 | USAA | $799 |
Colorado | $4,489 | Chubb | $2,614 |
Connecticut | $2,618 | Allstate | $1,737 |
Delaware | $1,701 | Nationwide | $840 |
District of Columbia | $1,764 | Nationwide | $1,409 |
Florida | $3,889 | Chubb | $2,294 |
Georgia | $2,869 | Progressive | $2,061 |
Hawaii | $632 | UPC Insurance | $370 |
Idaho | $2,178 | Mutual of Enumclaw | $957 |
Illinois | $2,743 | Nationwide | $1,545 |
Indiana | $2,643 | Erie Insurance | $1,453 |
Iowa | $2,697 | Pekin Insurance | $1,830 |
Kansas | $5,412 | Shelter Insurance | $3,227 |
Kentucky | $4,671 | Cincinnati Insurance Co. | $2,030 |
Louisiana | $4,033 | State Farm | $1,274 |
Maine | $1,863 | Vermont Mutual Insurance | $1,006 |
Maryland | $1,810 | Travelers | $1,384 |
Massachusetts | $1,906 | Norfolk & Dedham Group | $685 |
Michigan | $2,467 | The Hanover Insurance Group | $1,004 |
Minnesota | $3,642 | North Star Mutual Insurance Co. | $2,001 |
Mississippi | $4,201 | Southern Farm Bureau Casualty | $3,249 |
Missouri | $3,387 | Allstate | $2,356 |
Montana | $3,068 | Farmers | $1,660 |
Nebraska | $5,912 | American Family | $3,834 |
Nevada | $1,626 | Nationwide | $1,065 |
New Hampshire | $1,760 | Vermont Mutual Insurance | $1,048 |
New Jersey | $1,744 | Allstate | $1,028 |
New Mexico | $3,354 | State Farm | $2,183 |
New York | $1,897 | NYCM Insurance | $529 |
North Carolina | $3,378 | State Farm | $1,475 |
North Dakota | $2,911 | North Star Mutual Insurance Co. | $1,947 |
Ohio | $2,207 | Erie Insurance | $1,242 |
Oklahoma | $6,133 | American Farmers & Ranchers | $4,466 |
Oregon | $1,885 | Mutual of Enumclaw | $782 |
Pennsylvania | $1,928 | Westfield Insurance | $1,017 |
Rhode Island | $2,240 | State Farm | $1,027 |
South Carolina | $3,335 | Allstate | $1,274 |
South Dakota | $3,605 | North Star Mutual Insurance Co. | $2,530 |
Tennessee | $2,857 | Erie Insurance | $2,332 |
Texas | $5,180 | Texas Farm Bureau Insurance | $3,474 |
Utah | $1,507 | Farm Bureau Financial Services | $1,230 |
Vermont | $1,339 | Allstate | $768 |
Virginia | $2,499 | State Farm | $1,483 |
Washington | $1,600 | Mutual of Enumclaw | $907 |
West Virginia | $2,511 | USAA | $1,197 |
Wisconsin | $2,159 | Erie Insurance | $1,222 |
Wyoming | $2,323 | Nationwide | $1,408 |
A little preparation makes it easier to compare home insurance companies. Along with your address and a few personal details, you’ll need to provide:
You can find most of this information on your county assessor’s website or in your inspection report. Most insurance companies can also help you find these details.
You should also choose a shopping option that makes you comfortable. You can shop for home insurance online, work with an agent or combine these options.
A few home insurance companies offer fully online shopping. This is a great option if you already know how much coverage you need. Most online insurance companies also offer live help by phone or chat.
You can get quotes directly from insurance company websites or use a comparison site like LendingTree. Comparison sites help you get multiple quotes with one questionnaire.
An insurance agent can answer your questions and help you get the right amount of coverage. Some companies have captive, or exclusive, agents. Others work with independent agents.
Bundling your home and auto insurance and shopping around are good ways to save money on home insurance. Make sure to ask about any discounts that may be available to you.
Homeowners insurance isn’t required by law. For mortgages, lenders make you insure your home at its replacement value, or estimated rebuild cost. You can insure it for a lower amount if you have a low loan balance or no mortgage. However, doing so is rarely advised.
If you’re buying a home, it’s best to begin shopping for homeowners insurance as soon as your offer is accepted. For mortgages, lenders require your insurance policy to take effect on your closing date.
Standard home insurance covers your belongings at actual cash value, or at depreciated prices. A replacement cost upgrade pays to replace damaged or stolen items with new ones.
Standard home insurance typically only offers limited coverage for certain valuables. Most policies only cover jewelry for up to $1,500 and have similar limits for antiques and fine art. However, you can usually pay extra to increase your coverage for items like these.