Key Takeaways

  • Erie Insurance, Chubb and Allstate have some of the cheapest home insurance rates in the U.S.
  • We recommend taking advantage of discounts, shopping around and adjusting your deductible or coverage limits if you want to lower your home insurance rate.

Owning a home can be expensive, and overpaying for homeowners insurance doesn't help. So we found the cheapest homeowners insurance companies in the U.S. by compiling quotes from providers in all 50 states.

Our guide to cheap home insurance, includes:

Cheap homeowners insurance companies

Erie Insurance, Chubb and Allstate tend to be the cheapest homeowners insurance companies, according to QuoteWizard's analysis. Some of these companies offer average rates lower than $150 a month, making them highly affordable options.

However, there is no single cheapest homeowners insurance company for everyone because rates depend on many factors, such as your home, your insurance claims history and where you live. That means the most affordable home insurance company for you might be different than the most affordable option for your neighbor.

Company Average annual premium
Allstate $1,734
American Family $2,466
Country Financial $1,876
Chubb $1,615
Erie Insurance $1,471
Farm Bureau $2,406
Farmers $2,168
Nationwide $2,164
State Farm $1,888
Travelers $2,273
USAA $1,776
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Cheapest homeowners insurance companies by state

Although Erie Insurance, Chubb and Allstate are among the cheapest home insurers in the U.S., other insurers might be cheaper in your state.

State Cheapest company Cheapest average annual premium
Alabama Allstate $1,631
Alaska Country Financial $937
Arizona Travelers $1,077
Arkansas Shelter Mutual $1,948
California Allstate $663
Colorado Chubb $1,436
Connecticut Allstate $1,062
Delaware Nationwide $584
District of Columbia Allstate $993
Florida Chubb $1,578
Georgia Progressive $1,472
Hawaii DB Insurance Co. Ltd $259
Idaho Mutual of Enumclaw $745
Illinois USAA $1,282
Indiana Erie Insurance $1,342
Iowa Farmers $1,555
Kansas Shelter Insurance $2,206
Kentucky The Cincinnati Insurance Cos. $1,462
Louisiana State Farm $2,123
Maine Vermont Mutual Insurance $680
Maryland Travelers $914
Massachusetts Vermont Mutual Insurance $820
Michigan Allstate $1,032
Minnesota American Family $2,078
Mississippi Southern Farm Bureau Casualty $2,386
Missouri Allstate $1,491
Montana Farmers Insurance $1,192
Nebraska American Family $3,576
Nevada State Farm $924
New Hampshire Amica Mutual $658
New Jersey Allstate $729
New Mexico Allstate $1,825
New York NYCM $409
North Carolina State Farm $1,246
North Dakota Farmers Union Insurance $1,226
Ohio The Cincinnati Insurance Cos. $993
Oklahoma American Farmers & Ranchers $3,021
Oregon Mutual of Enumclaw $495
Pennsylvania Penn National $692
Rhode Island Heritage Insurance $1,090
South Carolina Allstate $1,008
South Dakota North Star Mutual Insurance $1,538
Tennessee Erie Insurance $1,592
Texas Chubb $2,299
Utah Farm Bureau Financial Services $845
Vermont Allstate $560
Virginia VA Farm Bureau Federation $880
Washington Nationwide $431
West Virginia Erie Insurance $1,054
Wisconsin Erie Insurance $824
Wyoming Nationwide $968
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Cheapest homeowners insurance companies in biggest cities

Homeowners insurance premiums also vary by city due to risks like crime rate and the age of your home. We compiled rates for the cheapest home insurance companies in the biggest U.S. cities.

City Cheapest company Cheapest average annual premium
New York City NYCM $600
Los Angeles Allstate $615
Chicago USAA / Erie Insurance $1,311 / $1,410
Houston Nationwide $1,314
Phoenix Travelers $1,150
Philadelphia USAA / Penn National Insurance $1,239 / $1,396
San Antonio Chubb $1,558
San Diego Auto Club Exchange $656
Dallas Chubb $1,937
San Jose Allstate $617
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Find your best homeowners insurance rates.

Cheapest home insurance rates by credit score

Your credit score can affect your home insurance rate, especially if you have a poor credit score. Homeowners with good credit scores pay less for home insurance, on average. However, some states don't allow home insurance companies to use credit scores when determining rates. If you live in a state that allows it and you have a poor credit score, you can compare rates from different companies to get cheaper rates.

Company Average annual rate: good credit Average annual rate: poor credit
Allstate $1,504 $2,983
Farm Bureau $1,344 $2,476
Farmers $1,277 $4,401
Nationwide $2,088 $3,243
State Farm $1,348 $3,265
USAA $1,374 $2,300
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Average rates based on credit score are from Arizona, Georgia, Texas, Illinois, and Utah. Your rates may vary.

Cheapest insurer for homeowners


Erie Logo

Second-cheapest insurer for homeowners


Chubb Logo

Best insurer for discount options


Allstate Logo

Cheapest insurer for homeowners: Erie Insurance

QuoteWizard rating: 4.0 out of 5 star rating icon #14star rating icon #15star rating icon #16star rating icon #17

Erie Insurance has the cheapest average home insurance premium at $1,471 a year. Erie Insurance also provides a great bundling discount. You can save around 20% if you bundle your home and auto insurance policies with Erie Insurance.

Erie Insurance provides great coverage, too, and offers a few coverages that many other insurers don't offer. In the event of a covered loss, Erie Insurance can cover the following:

  • Guaranteed replacement cost: Covers the full cost of rebuilding your house
  • Pets: Covered up to $500
  • Cash and precious metals: Covered up to $500

Relative to its size, Erie Insurance also has few customer complaints reported for home insurance, based on data from the National Association of Insurance Commissioners (NAIC). The National Complaint Index from NAIC is a measurement of complaints made against an insurance company. Erie Insurance received a score of 0.30, which means that it received fewer than half as many complaints than a company of its size would expect to see. Erie Insurance also has a score of 827 out of 1,000 in J.D. Power's Home Insurance Study, which is above the average score of 819.

Second-cheapest insurer for homeowners: Chubb

QuoteWizard rating: 4.3 out of 5 star rating icon #9star rating icon #10star rating icon #11star rating icon #12star rating icon #13

Chubb has the second-cheapest average premium at $1,615 a year. Chubb also provides great coverage if you have a lot of assets. Chubb's Masterpiece program includes:

  • Extended replacement cost coverage: This coverage will pay for the full rebuild of your home if your home is damaged by a covered loss, even if the damage repair cost is above your dwelling coverage limit.
  • Cash payout option: If your home is completely destroyed due to a covered loss and you do not want to repair or rebuild your home, you can get a cash payout up to your policy limit instead.
  • Replacement cost coverage: If your appliances are damaged due to a covered loss, Chubb will replace them based on the same or newest model available. Chubb will also replace your flooring, carpentry and other details in your home.

Along with cheap rates, Chubb has a low Complaint Index score of 0.21. It also has an AM Best financial strength rating of A++, which shows that the company is in very good financial health.

Best discount options: Allstate

QuoteWizard rating: 3.9 out of 5 star rating icon #1star rating icon #2star rating icon #3star rating icon #4

While Allstate doesn't have the lowest average home insurance rate at $1,734 a year, it has a variety of great discounts that can make your policy more affordable. For example:

  • You can save up to 25% off your home and auto insurance policies if you bundle them with Allstate.
  • You can save up to 20% if you switch to Allstate and don't have a recent home insurance claim.
  • You can save up to 10% if you switch to Allstate. You'll continue to save 10% every year as long as you're a customer.
  • You can save up to 5% just by setting up automatic payments.

How can I make my home insurance rate cheaper?

You can take steps to lower your homeowners insurance premium. For example, you can see large savings by switching companies. However, if you want to remain with your current provider, you can save with discounts, home improvements and policy adjustments.

Take advantage of home insurance discounts

Insurance companies usually offer a handful of discounts to policyholders. Many companies have discounts for:

  • Bundling multiple insurance policies
  • Having a claims-free history
  • Installing fire, burglar and smoke alarms
  • Adding storm shutters

Additionally, home improvements that make your home less susceptible to damage, like an impact-resistant roof or storm shutters, can lower your premium, too.

Lower your coverage limits or raise your deductible

You can lower your home insurance rates by adjusting your policy limits and deductible. Your coverage limits are the maximum reimbursement amounts your insurance company will pay out after a claim, so higher limits lead to higher premiums. You may find that you're paying for more coverage than you need.

Raising your deductible can also lower your monthly premium. Our study of the average cost of homeowners insurance found that raising your deductible from $500 to $2,000 can save you $363 a year. However, be careful about raising your deductible to an amount you're unable to pay.

Deductible Average annual premium
$500 $2,090
$1,000 $1,931
$1,500 $1,830
$2,000 $1,727
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.


We collected quotes from thousands of ZIP codes across the country for a standard HO-3 homeowners insurance policy using the following coverages:

  • $275,000 dwelling coverage (unless otherwise noted)
  • $27,500 other structures
  • $137,500 personal property
  • $55,000 loss of use coverage
  • $100,000 liability
  • $5,000 medical payments
  • $1,000 deductible (unless otherwise noted)

QuoteWizard rated insurance companies based on their cost, discounts, coverages, financial strength, J.D. Power score, NAIC Complaint Index, and website experience. We used a weighted rating for each of these categories and scored them out of five. LLC has made every effort to ensure that the information on this site is correct, but we cannot guarantee that it is free of inaccuracies, errors, or omissions. All content and services provided on or through this site are provided "as is" and "as available" for use. LLC makes no representations or warranties of any kind, express or implied, as to the operation of this site or to the information, content, materials, or products included on this site. You expressly agree that your use of this site is at your sole risk.