Cheap Home Insurance (2024)
State Farm has the cheapest homeowners insurance for most people, at $1,514 per year.
Find Cheap Homeowners Insurance Quotes
Cheapest homeowners insurance companies
Cheap home insurance companies
State Farm has the cheapest home insurance quotes overall.
A policy from State Farm costs around $1,514 per year and is available in most states.
Find Cheap Homeowners Insurance Quotes in Your Area
Cheapest home insurance quotes
Company | Annual rate | ||
|---|---|---|---|
| State Farm | $1,514 | |
| Amica | $1,521 | |
| Erie | $1,979 | |
| Allstate | $2,064 | |
| Progressive | $2,133 | |
*USAA is only available to military members, veterans and their families.
The cheapest house insurance companies are based on quotes from all ZIP codes in the country for a policy with $350,000 of dwelling coverage. Ratings of the top companies consider customer service, claims satisfaction, cost and availability. See the full methodology.
Cheapest quotes for most homeowners: State Farm
Editor rating
-
Annual rate
$1,514 ? -
Monthly rate
$126 ?
-
J.D. Power
6th out of 22 ? -
AM Best
A++ ?
Why it's great
State Farm has the best home insurance rates compared to other major companies, along with dependable customer service.
State Farm offers inexpensive home insurance, a great bundling discount and reliable customer service.
Homeowners insurance from State Farm costs $1,514 per year. That's $637 per year cheaper than the national average.
State Farm is an excellent choice if you're looking to bundle your home and car insurance. It has very affordable car insurance rates, and you can save around 24% when you bundle home and auto policies with State Farm.
Homeowners can depend on State Farm to help fix their homes quickly after an accident. The company earned an above-average score on J.D. Power's home insurance survey. That means its customers are satisfied with the service they get at State Farm.
State Farm also gets 65% fewer customer complaints than an average insurance company its size, according to the National Association of Insurance Commissioners (NAIC).
Cheapest homeowners insurance for excellent service: Amica
Editor rating
-
Annual rate
$1,521 ? -
Monthly rate
$127 ?
-
J.D. Power
3rd out of 22 ? -
AM Best
A+ ?
Why it's great
Amica has cheap home insurance quotes and a top-rated claims process.
Home insurance from Amica is typically very affordable, at $1,521 per year. That's $630 per year cheaper than the national average. You may be able to get your rates down by asking about Amica's home insurance discounts, which include:
- Bundling discount of up to 30% savings when you also buy car, umbrella and life insurance from Amica
- Protective device discount when you install a burglar or fire alarm, water or gas leak detection system, or temperature monitoring device
- Claims-free discount when you have no home insurance claims for three or more years
- E-discount when you sign up to get bills and policy documents via email
- Loyalty discount if you've had insurance with the same company for two or more years before switching to Amica
- New or remodeled home credit when you insure a newly built or renovated home
- Automatic payment or pay-in-full discount
Homeowners can count on Amica to take good care of them in a crisis.
Amica earned the highest score on J.D. Power's claims satisfaction survey. In addition, Amica only gets one-third as many complaints as an average insurance company its size. That means customers are typically happy with Amica's claims process.
Best homeowner insurance rates for people who need extra coverage: Allstate
Editor rating
-
Annual rate
$2,064 ? -
Monthly rate
$172 ?
-
J.D. Power
12th out of 22 ? -
AM Best
A+ ?
Why it's great
Allstate has affordable home insurance quotes and lots of coverage add-ons.
Home insurance from Allstate costs $2,064 per year, which is $87 per year cheaper than the national average.
Allstate also offers homeowners a number of discounts to help make its insurance more affordable. For example, you can save if you have a history of paying your insurance bills on time, or if you haven't made a home insurance claim.
Allstate has a range of optional coverage add-ons to customize your home insurance coverage, including:
- Replacement cost coverage for your home and belongings
- Flood insurance
- Identity theft protection
- Extra coverage for expensive items
- HostAdvantage
- Home day care coverage
- Loss assessment coverage
However, you may be able to find better customer service elsewhere. Allstate has a below-average score on J.D. Power's customer satisfaction survey. Allstate also gets 30% more customer complaints than an average company its size. That means customers aren't thrilled with the service at Allstate.
Find Cheap Homeowners Insurance Quotes in Your Area
Cheapest home insurance rates by state
State Farm has the lowest rates in 17 states, which is significantly more than any other company.
However, midsize companies — like Auto-Owners and Vermont Mutual — are the most affordable option for homeowners in 24 states.
Cheap homeowners insurance near you
State | State avg. | Cheapest rate | |
|---|---|---|---|
| Alabama | $2,717 | Farmers | $807 |
| Alaska | $1,374 | Umialik | $1,029 |
| Arizona | $1,993 | State Farm | $1,129 |
| Arkansas | $3,235 | State Farm | $2,270 |
| California | $1,624 | Mercury | $971 |
Home insurance rates vary widely from one state to the next. This is because of factors like weather, population density and crime rates.
For that reason, the cheapest company nationally may not have the most affordable home insurance near you.
Homeowners in Hawaii can take advantage of the lowest home insurance rate in the country, from DB Insurance, at $333 per year.
On the other hand, if you're in Nebraska, you'll pay the highest rates. Nationwide is the most expensive company in Nebraska, at $7,332 per year.
How to compare quotes and get cheaper home insurance
Comparing quotes is the best way to find cheaper homeowners insurance.
You can shop for insurance quotes online or speak with an agent over the phone.
Homeowners insurance rates may vary depending on a number of factors. These can include where you live, the value of your house and the amount of coverage you get.
You should follow these steps as you compare quotes from insurance companies near you:
Gather your personal info. This includes details about your house, your belongings and your insurance history. Tracking down info about your home and taking inventory of your stuff can take time. So, give yourself enough lead time for this.
Figure out how much coverage you need. Your coverage needs can change from year to year. This is particularly true if you've done home renovations or bought expensive personal items like jewelry or fine art.
You should get dwelling coverage limits that match the replacement cost value (RCV) of your house and belongings rather than the actual cash value (ACV). Your quotes will be more expensive, but you'll spend much less on repairs if your home is damaged in a covered event, like a fire.
Compare quotes from multiple companies. You should get quotes from at least three companies, if not more, before purchasing a policy. Quotes can vary by thousands of dollars per year. Comparing rates is the best way to ensure you're paying the best rate.
Make sure you get quotes for the same coverage limits so your comparison is accurate. You don't want to pay for a policy that seems like a great deal, only to later discover that you don't have enough coverage when you file a claim.
How to get cheap homeowners insurance rates
The average cost of homeowners insurance is $2,151 per year. But, there are a number of ways to find more affordable house insurance rates.
Comparing rates from multiple companies and asking each one about discounts increases your chance of finding a good deal.
You can also raise your deductible to get a lower monthly payment. Just make sure that you choose an amount you can afford to pay if your home is damaged.
If you're willing to make a long-term investment in your home, consider updating your roof with impact-resistant materials. You can also install smart alarm technology that can help prevent a burglary or fire. Many companies will offer you a discount if you make these improvements. That's because they make it less likely you'll need to make a claim.
Frequently asked questions
Who has the cheapest homeowner insurance?
State Farm is the cheapest major home insurance company, at $1,514 per year, or $126 per month on average.
However, the most affordable company near you may be different. Midsize companies — like Auto-Owners, NYCM and Vermont Mutual — sometimes have cheaper homeowners insurance rates than large national companies.
How can I lower my homeowners insurance rates?
To find the cheapest homeowners insurance rates, you should start by comparing quotes from multiple companies.
Next, make sure you're getting as many discounts as possible. Many companies offer discounts for installing a security system or renovating your home.
Lastly, you can consider lowering your coverage or raising your deductible. But either of these options will leave you paying more for repairs if your house is damaged.
Methodology
To find the cheapest homeowners insurance companies, ValuePenguin collected quotes for every ZIP code in the United States, from the largest companies in every state.
Quotes are for a 45-year-old married man with a good credit score and no history of home insurance claims. Rates include the following coverage limits:
- Dwelling coverage: $350,000
- Personal liability coverage: $100,000
- Medical payments: $5,000
- Deductible: $1,000
ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurance company filings and should be used for comparative purposes only. Your own quotes will be different.
Editorial Note: The content of this article is based on the author's opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.
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