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 comprehensive guide to cheap home insurance includes:

Our guide to cheap home insurance, includes:

Cheap homeowners insurance companies

Chubb, USAA 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 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 rate
American Family $2,033
Allstate $1,754
Chubb $1,570
Country Financial $1,775
Farmers $2,157
Nationwide $1,885
State Farm $1,794
Travelers $2,005
USAA $1,676
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 Chubb, USAA and Allstate are among the cheapest home insurers in the country, other insurers might be cheaper in your state.

State Cheapest company Cheapest average annual premium
Alabama Allstate $1,611
Alaska Country Financial $937
Arizona USAA / Nationwide $984 / $1,080
Arkansas Shelter $1,880
California Allstate $660
Colorado USAA / State Farm $1,753 / $2,027
Connecticut Allstate $1,011
Delaware Nationwide $584
District of Columbia Chubb $826
Florida Tower Hill $1,560
Georgia Progressive $1,352
Hawaii Dongbu $238
Idaho Allstate $1,008
Illinois USAA / Allstate $1,369 / $1,496
Indiana Erie $1,248
Iowa Farmers $1,125
Kansas Shelter $2,184
Kentucky Cincinnati Insurance $1,419
Louisiana State Farm $2,028
Maine Vermont Mutual $672
Maryland Travelers $847
Massachusetts Vermont Mutual Insurance $715
Michigan Allstate $962
Minnesota North Star Mutual $1,176
Mississippi USAA / State Farm $2,405 / $2,743
Missouri USAA / American Family $1,740 / $2,034
Montana Chubb $1,254
Nebraska American Family $2,441
Nevada Allstate $739
New Hampshire Amica $771
New Jersey NJM $702
New Mexico Allstate $1,616
New York NYCM $399
North Carolina State Farm $1,148
North Dakota North Star $1,224
Ohio Erie $924
Oklahoma American Farmers & Ranchers $3,021
Oregon Mutual of Enumclaw $372
Pennsylvania Erie $804
Rhode Island Heritage Insurance $980
South Carolina Allstate $1,016
South Dakota North Star Mutual $1,495
Tennessee Erie $1,706
Texas Texas Farm Bureau $2,220
Utah Allstate $720
Vermont Allstate $609
Virginia Travelers $983
Washington Mutual of Enumclaw $600
West Virginia Westfield $829
Wisconsin Erie $840
Wyoming Nationwide $1,137
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 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 Company Average annual premium
New York City NYCM $552
Los Angeles Allstate $612
Chicago USAA / State Farm $1,244 / $1,442
Houston Nationwide $1,320
Phoenix USAA / American Family $1,141 / 1,240
Philadelphia USAA / Penn National $1200 / $1,272
San Antonio Texas Farm Bureau $1,536
San Diego Travelers $612
Dallas Chubb $2,112
San Jose Travelers $516
Austin Texas Farm Bureau $1,452
Jacksonville Tower Hill $1,248
Fort Worth Texas Farm Bureau $2,532
Columbus Cincinnati Insurance $907
Charlotte State Farm $696
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Cheapest insurer for most homeowners: Chubb

Chubb has the cheapest average premium for most homeowners at $1,570 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 damaged 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.

Relative to its size, Chubb also has the fewest customer complaints reported for home insurance based on data from the NAIC. The National Complaint Index from NAIC is a measurement of complaints made against an insurance company. Chubb received a score of 0.31, which means that it received fewer than half as many complaints that a company of its size would expect to see.

Best for veterans and cheap rates: USAA

USAA is the second-cheapest home insurance company in our study at an average premium of $1,676 a year. In addition, USAA has great customer satisfaction scores. In J.D. Power's 2021 U.S. Home Insurance Study, USAA received a score of 882 out of 1,000 - the highest score in the study. USAA only offers policies to military personnel and veterans, as well as their families. USAA includes replacement cost coverage in their policies, which covers your personal belongings at the current price of the covered item, even if the price is higher than what you initially paid.

How to make your home insurance rates 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 $320 a year. However, be careful about raising your deductible to an amount you're unable to pay.

Methodology

We collected quotes from every ZIP code in all 50 states. The following coverages were used:

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

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