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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