Key Takeaways
- Nationwide has the cheapest average home insurance rate in Delaware, at $49 a month.
- Delaware's average home insurance rate is 52% cheaper than the national average.
If you're a Delaware homeowner, Nationwide offers the cheapest annual home insurance rate of $584. Home insurance coverage points tend to be similar from provider to provider. This means balancing cost, coverage and customer satisfaction is crucial in picking the right policy for you. We compiled this guide to help you compare home insurance companies and get the best policy at the cheapest price.
In this article
Delaware's cheapest home insurance companies
Nationwide has the cheapest average rate for homeowners insurance in Delaware, at a monthly cost of $49. Allstate has the second-cheapest rate, $64 a month.
| Company | Monthly average rate |
|---|---|
| Nationwide | $49 |
| Allstate | $64 |
| State Farm | $76 |
| Cumberland Mutual | $90 |
| Travelers | $106 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
How much does homeowners insurance cost in Delaware?
The average cost of home insurance in Delaware is $921 a year, or $77 a month. This is 52% cheaper than the U.S. average of $1,903 a year.
Insurers look at various risk factors when calculating your home insurance quote. They include:
- Your home's age
- Construction materials used
- The cost to rebuild your home
- The crime rates and severe weather in your area
- Your credit and insurance history
Your deductible also affects your rate. The higher the deductible you choose, the lower your premium. The table below shows the average annual premium in Delaware based on standard deductible choices.
| Deductible | Average annual rate |
|---|---|
| $500 | $977 |
| $1,000 | $921 |
| $1,500 | $872 |
| $2,000 | $815 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
The dwelling coverage amount you choose for your home insurance policy impacts your premium, too. You want to have enough dwelling coverage to rebuild your home in the event of a total loss. Keep in mind that dwelling coverage only needs to reflect the rebuild cost of your home, not the property value.
The following table shows the average annual rate of home insurance in Delaware based on common dwelling coverage limits.
| Coverage limit | Average annual rate |
|---|---|
| $200,000 | $740 |
| $350,000 | $1,106 |
| $425,000 | $1,332 |
| $500,000 | $1,581 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Compare home insurance quotes to get your best rate
Delaware's best home insurance companies
Of the biggest home insurance providers operating in Delaware, Nationwide has the best rates, Allstate has the best discounts and State Farm is the most popular.
Nationwide: Cheapest rates and good discounts
Nationwide offers the cheapest homeowners insurance in Delaware, with rates averaging $49 a month. This is 36% cheaper than the state average of $77 a month. Nationwide keeps its rates low by offering a range of discounts, including:
- Home purchase discount: You may get a lower rate if you bought your home within the last 12 months.
- Roof rating discount: You can save money based on your roof's age and surface type.
Allstate: Best discounts
Allstate has a cheap average rate of $64 a month. Furthermore, it offers the best variety of home insurance discounts to possibly bring your rates down lower. They include:
- Welcome and loyalty discount: Save 10% on your home insurance when you switch to Allstate. This discount stays active as long as you have your policy with Allstate.
- Multipolicy discount: Bundling your home insurance policy with an auto or life insurance policy through Allstate can save up to 25% on your premiums.
- Early signing discount: Save up to 10% by signing up for a new home insurance policy at least seven days before the expiration of your current policy.
- Easy pay discount: Save 5% on your home insurance with automatic payment.
- Claim-free discount: Sign on with Allstate with no recent claims on your homeowners insurance and save up to 20%.
State Farm: Most popular provider
While not the cheapest home insurer in Delaware, with an average monthly rate of $76, State Farm is the most-used insurance company in the U.S. According to the National Association of Insurance Commissioners, State Farm has 9% of the national market share for property and casualty insurance.
A key reason for State Farm's popularity comes from its long-standing trend of excellent insurance claims resolution and satisfaction. J.D. Power gave State Farm an above-average ranking of 880 out of 1,000 in its 2023 U.S. Property Claims Satisfaction Study.
Satisfaction ratings for home insurance companies in Delaware
While policy cost is a main point of concern when buying home insurance, how an insurer treats its policyholders is equally important for many. Of the biggest insurance companies in Delaware, Nationwide has the highest property claims rating of 884 out of 1,000 in J.D. Power's Property Claims Satisfaction Study. The higher the rating, the better.
| Company | Claim satisfaction rating |
|---|---|
| Allstate | 868 |
| Cumberland Mutual | NA |
| Nationwide | 884 |
| State Farm | 880 |
| Travelers | 867 |
| Source: J.D. Power Property Claims Satisfaction Study | |
The U.S. Property Claims Satisfaction Study measures policyholder satisfaction with their home insurer's claims experience among insurance by examining factors such as settlement, claim servicing; and estimation and repair processes.
The complaint ratings of Delaware home insurance companies
Traveler's Complaint Index rating of 0.02 is the lowest, or best, score of the biggest home insurance providers in Delaware.
| Company | Complaint Index |
|---|---|
| Allstate | 0.33 |
| Cumberland Mutual | NA |
| Nationwide | NA |
| State Farm | 0.35 |
| Travelers | 0.02 |
| Source: National Association of Insurance Commissioners (2023) | |
The NAIC Complaint Index rates policyholders' claim-based complaints filed with state insurance departments in comparison to other insurers of similar size. The lower the index, the better.
Cheapest home insurance in Delaware by city
Of Delaware's 10 biggest cities, Newport has the most affordable homeowners insurance rate, at an average $900 a year. Fenwick Island has the highest average rate, $1,635 a year.
| City | Average annual rate |
|---|---|
| Newport | $900 |
| St. Georges | $916 |
| Wyoming | $943 |
| Camden | $945 |
| Rising Sun-Lebanon | $1,018 |
| Harrington | $1,029 |
| Laurel | $1,133 |
| Milford | $1,193 |
| Dewey Beach | $1,555 |
| Fenwick Island | $1,635 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.. | |
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Cheapest home insurance in Newport
Newport homeowners get the cheapest rate with Nationwide, at an average rate of $684 a year. Allstate has the second-cheapest, at $780 a year.
| Company | Annual average rate |
|---|---|
| Nationwide | $684 |
| Allstate | $780 |
| State Farm | $878 |
| Travelers | $994 |
| Cumberland Mutual | $1,150 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Cheapest home insurance in St. Georges
Nationwide has the cheapest home insurance rates for St. Georges residents, at an average of $684 a year. Travelers is the second-most affordable, at $837 a year.
| Company | Average annual rate |
|---|---|
| Nationwide | $684 |
| Travelers | $837 |
| Allstate | $938 |
| State Farm | $982 |
| Cumberland Insurance | $1,150 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Cheapest home insurance in Wyoming
Nationwide has the cheapest rate for home insurance in the city of Wyoming, at an average premium of $706 a year. Allstate is the second-cheapest at $869.
| Company | Average annual rate |
|---|---|
| Nationwide | $706 |
| Allstate | $869 |
| State Farm | $971 |
| Travelers | $1,136 |
| Cumberland Insurance | $1,162 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Cheapest home insurance in Delaware by county
New Castle County residents have the cheapest average homeowners insurance rate of $760 a year among Delaware's largest counties. Sussex County has the most expensive average rate of $1,137 annually.
| County | Average annual rate |
|---|---|
| New Castle | $760 |
| Kent | $862 |
| Sussex | $1,137 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Frequently asked questions
Delaware home insurance costs an average $77 a month, 52% cheaper than the national average.
Nationwide has the cheapest home insurance rate in Delaware with an average of $49 a month. This is 36% cheaper than the state average.
Methodology
We collected quotes from every ZIP code in Delaware for a standard HO-3 homeowners insurance policy using the following coverages:
- $275,000 dwelling (unless otherwise noted)
- $27,500 other structures
- $137,500 personal property
- $55,000 loss of use
- $100,000 liability
- $5,000 medical payments
- $1,000 deductible (unless otherwise noted)
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