How to Compare Home Insurance Quotes

Comparing home insurance quotes can save you money. Here’s how to save time in your search for the right policy.

Find the Cheapest Home Insurance Quotes in Your Area

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Although comparing home insurance quotes adds a little time to the shopping process for homeowners insurance, the extra effort is usually worth it. Shopping around helps you find the right coverage at the cheapest price.

Whether you are buying a new home or looking for a better deal, here are key tips on buying home insurance, along with what you need to do it.

Compare home insurance quotes by ratings

While a low price is important, you also want to make sure the home insurance company you choose provides responsive customer service.

According to J.D. Power, Erie, Amica Mutual and Auto-Owners are the best home insurance companies for overall satisfaction.

Although USAA has a higher rating than any other insurance company, USAA is only available to current and former members of the military and their families.

Top customer satisfaction scores

CompanySatisfaction rating (1,000-point scale)
Erie856
Amica Mutual844
Auto-Owners834
AIG831
State Farm829
Country Financial819
Segment average819
American Family813
Nationwide812
USAA*881

Source: J.D. Power 2023 U.S. Home Insurance Study. *USAA is only available to current and former members of the military and their families.

Find the Cheapest Home Insurance Quotes in Your Area

Home insurance quotes by company

When shopping around for quotes, home insurance companies offer a wide range of rates. This is due to companies weighing factors differently when determining your rate. Insurance companies can also offer different types of discounts and savings, which may drive down your rate. We found that shopping around can save you up to $1,800 a year.

CompanyAverage Annual RateAverage Monthly Rate
Erie$2,055$171
State Farm$2,427$202
USAA*$2,507$209
Allstate$2,560$213
Chubb$2,606$217
Progressive$2,648$221
Country$2,827$236
Nationwide$3,055$255
American Family$3,072$256
Travelers$3,149$262
Farm Bureau$3,639$303
Farmers$3,801$317

*USAA is only available to military members and veterans, along with their families

Compare home insurance quotes by coverage

As you compare prices in your home insurance quotes, make sure to account for differences in the coverages in each quote.

Dwelling coverage

Your dwelling coverage pays to repair damage to your home from a covered peril, such as a fire or fallen tree.

If you have a mortgage, your lender will likely require your policy’s dwelling limit to match your home’s replacement value, or the estimated cost of rebuilding it. You can typically choose a lower dwelling amount if you have a low loan balance or no mortgage at all.

Insurance companies typically calculate your dwelling limit for you based on details you provide about your home. Make sure the information they have about your home is accurate.

Other structures

The other structures coverage in homeowners insurance applies to sheds, detached garages and other structures not attached to your home.

Most insurers offer this in default amounts ranging from 10% to 20% of your dwelling limit. Consider asking for more if you have a cottage, converted garage or other detached structure that may be expensive to rebuild.

Personal property

The personal property coverage in homeowners insurance covers your belongings. This includes your appliances, furniture, clothing, electronics, gadgets and other stuff.

Most policies provide personal property coverage in default amounts, but you can ask for a higher limit if necessary.

One of the best ways to know how much personal property coverage you need is to create an itemized list of your possessions and add up their value.

If you’re pressed for time, accept a default limit and adjust your coverage after you compile your personal property inventory. Just don’t put it off for too long.

Make note of the type of personal property coverage in each quote, and consider additional coverage for any valuables you may have.

QuestionsBasic ChoicesUpgrades
What types of personal property coverage can I get?Standard home insurance covers your belongings at actual cash value, or depreciated prices.A replacement cost upgrade pays to replace damaged or stolen items with new ones.
How does home insurance cover my valuables?Most policies cap their coverage at $1,500 for jewelry and similar amounts for other valuables, unless you buy add-on protection.Ask to see the price of add-ons you may need in your quotes.
Tip: If you can’t decide between replacement cost and actual cash value coverage for your belongings, ask for separate quotes showing your rate with each coverage type.

Loss of use

If a covered peril leaves your home uninhabitable during repairs, your loss of use coverage pays for rent and other temporary living expenses until you move back home.

A common default amount is 20% of your dwelling limit, but many companies cut off your loss of use benefits after a set period of time, such as a year.

This coverage is rarely a dealbreaker, but higher limits and no time limits are better.

Personal liability and medical payments

The personal liability coverage in homeowners insurance covers injuries or damage you cause to others, generally while not operating a vehicle.

Medical payments covers medical costs of a guest visiting your home who gets hurt, regardless of fault.

Both are offered in default amounts, but you can increase your limits.

  • Your personal liability limit should match your net worth.
  • The default limit for medical payments coverage is enough for most people.

Home insurance endorsements to compare

Some companies offer endorsements, or add-ons, for certain coverages that other companies automatically include in their base policies.

Two important coverages you may or may not have to pay extra for, depending on the provider:

  • A backup of a sewer or drain in your home could result in costly damage to your floors, walls and personal belongings. Find out if the policies you review cover this risk or require an endorsement.
  • Extended replacement cost coverage increases your dwelling coverage if the cost of rebuilding your home after a covered disaster exceeds your limit. Find out if this is included in your quote or costs extra to add.

Compare home insurance quotes by deductible

You should also account for any price differences that may result from having different deductibles in your home insurance quotes.

In most areas, increasing your deductible from $1,000 to $2,000 can reduce your premium, or rate, by about 10%.

Since your deductible is the amount that comes out of your pocket for property damage or theft claims, you don’t want it to be too high. However, increasing it to the most you’d be able to afford after a disaster can help you save money.

How to navigate wind and hail deductibles

In many parts of the U.S., insurance companies separate your deductible for wind, hail and/or hurricane damage from the deductible that applies to other covered perils.

The basic rules of single deductibles also apply to split deductibles:

  • Higher is cheaper.
  • The highest deductible you can afford is best.

What you need to compare home insurance quotes

You can simplify the process of comparing quotes by gathering basic information about your home and coverage needs before you begin shopping.

What you’ll need:

  • Details about your home, including its square footage and the type of foundation, garage and roof it has. You can find details that you don’t have memorized on your county assessor’s website or in your home’s inspection report.
  • If you already have homeowners insurance, pull up your current policy’s declarations, or dec, page. Your dec page shows your current coverages, limits, deductibles, discounts and rates.
  • Pull up the dec page for your car insurance policy if you plan to bundle your home and auto insurance, which you should do when possible.

Why compare home and auto insurance quotes at the same time?

Most companies offer a generous discount for bundling your home and auto insurance. Even if a company has a high rate for one policy, its price for the other may be low enough to result in a combined savings.

Sample home insurance quote comparisons

Since coverage types, limits and prices tend to vary by company, trying to compare home insurance quotes on an exact apples-to-apples basis may be difficult.

In most cases, it’s up to you to decide what’s more important: a cheaper price or more coverage.

Sample home insurance quotes

Quote AQuote BQuote C
Dwelling coverage: $300,000Dwelling coverage: $300,000Dwelling coverage: $300,000
Other structures: $30,000Other structures: $30,000Other structures: $30,000
Personal property: $180,000, replacement costPersonal property: $150,000, actual cash valuePersonal property: $180,000, replacement cost
Loss of use: $60,000Loss of use: $60,000Loss of use: $60,000
Personal liability: $100,000Personal liability: $100,000Personal liability: $100,000
Medical payments: $5,000Medical payments: $5,000Medical payments: $5,000
Endorsements: Extended replacement costEndorsements: NoneEndorsements: Extended replacement cost
All-perils deductible: $1,000All-perils deductible: $1,000All-perils deductible: $2,000
Price: $1,173 per year ($98 a month)Price: $1,037 a year ($86 a month)Price: $1,106 per year ($92 a month)

Rates are based on non-binding quotes obtained from Quadrant Information Services for a typical home in Ohio. Your rates may vary.

In the examples above:

  • Quote B is the cheapest proposal.
  • Quote A has more coverage than Quote B. Quote C provides the same coverage as Quote A, but it has a higher deductible than both Quote A and Quote B.
  • Quote C only costs $69 a year more than Quote B, or $6 more per month.

When should I shop around for a better home insurance rate?

If you already have homeowners insurance, you should compare quotes every few years to see if you can get a better deal.

Since insurance companies continuously adjust their rates, a company that quoted you a high rate in the past may offer a lower rate the next time you shop.

You may also qualify for a lower rate now than you did before if:

  • More than three years have elapsed since your last home insurance claim.
  • Your credit has improved.
  • You’ve replaced your roof or upgraded your plumbing, heating or electricity.

Events such as these may also reduce your rate with your current insurer. However, comparing quotes as your circumstances change allows you to see if a different company can give you a cheaper price.

Your existing home insurer may charge an early termination fee if you cancel midway through a policy term to switch. These cancellation fees tend to be small, but you can avoid one altogether if you switch when your current term expires.

Methodology

The rates shown in this article are based on non-binding quotes collected from Quadrant Information Services. Your rates may vary. Average rates were compiled from rates in all 50 states. The following coverages and deductible were used unless otherwise noted:

  • $400,000 dwelling coverage
  • $40,000 other structures
  • $200,000 personal property
  • $80,000 loss of use coverage
  • $100,000 liability
  • $5,000 medical payments
  • $1,000 deductible

Frequently asked questions

Bundling your homeowners policy with your car insurance and shopping around for the lowest rate are among the best ways to save money on home insurance. Make sure to ask about any discounts that may be available to you.

Homeowners insurance is not required by law. For mortgages, lenders often require you to insure your home at its replacement value, which is the estimated cost of rebuilding it. 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.

If you already have home insurance, you can look around for a better deal anytime. Most companies charge an early termination fee if you cancel your policy before your term expires. The fee is usually small, but you can avoid it altogether by switching at the end of a policy term, which typically lasts a year.