Cheapest Home Insurance Companies for 2022

Have you recently purchased a new home and are looking for the cheapest home insurance policy to protect it? The cost of homeowners’ insurance depends on a variety of variables. Such as where you reside when your home was built, the coverage you select, and your insurer.

Cheapest Home Insurance Companies for 2022
Cheapest Home Insurance Companies for 2022

The least costly house insurance provider we could find is Nationwide. It charges $1,833 fewer years than the most expensive provider, Auto-Owners. When looking for a home’s insurance coverage, we advise comparing quotes from many providers to find the best deal.

It can be challenging to appreciate the benefits of home insurance when things are going well. But in the event of an accident or disaster, you will need dependable service and enough coverage to make up for your losses.

To locate home insurance that is both inexpensive and efficient, we examined quotations from a range of providers. Your home is often your largest investment, and it is also where you keep all of your valuable possessions. These things are protected by a home’s insurance policy, which also provides important liability coverage.

Top 5 Cheapest Home Insurance Companies

  • Progressive home insurance
  • Erie home insurance
  • Auto owner’s home insurance
  • Lemonade home insurance
  • USAA home insurance

Progressive Home Insurance

With a national average premium of $1,236 for homeowners’ insurance, Progressive was the least expensive provider. Progressive provides its own home insurance but also refers clients to other businesses with whom it has agreements.

You may receive a quote from a partner firm in addition to the prices we provide, which are provided by American Strategic Insurance (ASI), a division of Progressive.

Erie Home Insurance

With an average yearly cost of $1,668, Erie was the fifth-cheapest home insurance provider in a competitive field. Just $1 separates that from fourth place. In addition to Washington, D.C., 12 states also offer Erie. Customers of Erie enjoy benefits such as coverage for guaranteed replacement costs.

Even if the overall cost of rebuilding your house after a disaster exceeds your dwelling coverage limit, this will pay for it. Erie does not offer a guaranteed replacement cost in all of the states where it conducts business.

Auto Owner’s Home Insurance

Third place went to Auto-Owners, with an average premium of $1,518 per year. In 26 states, auto-owners provide homeowners’ insurance coverage. You might find Concord, House-Owners, or Property-Owners listed as the group name on your home insurance policy.

Equipment breakdown, identity theft expense coverage, and water backup of sewers or drain insurance are additional home-related policies offered by Auto-Owners. You may also decide to enhance the limits for food spoilage due to power outages or select coverage for service line damage.

Lemonade Home Insurance

With an average premium of $1,461, Lemonade comes in second place as the cheapest home insurance provider. Washington, D.C., and 23 other states all sell lemonade. Home insurance policies are primarily sold online or via the company’s mobile app.

To use Lemonade, you don’t need to be a tech genius, but you do need to be a little tech-savvy. To maintain their Lemonade house insurance policies and submit claims, clients must download the app.

USAA Home Insurance

With a $1,667 national average rate, USAA placed fourth. USAA is accessible everywhere. You must be a veteran, an active-duty member of the military, or the spouse or child of one to be eligible for a homeowner’s insurance policy with USAA.

States and Companies That Offer the Cheapest Home Insurance

StateCheapest Home Insurance Company
AlabamaFarmers
ArizonaProgressive
CaliforniaAllstate
ColoradoAuto-Owners
FloridaSecurity First
GeorgiaProgressive
HawaiiDB Insurance
IdahoFarm Insurance
KentuckyUPC Insurance
MarylandBrethren Mutual
New jerseyNJM
New YorkUPC Insurance
OhioOhio Mutual
OregonMutual of Enumclaw
VirginiaFarmers
WashingtonPEMCO

Note: It is also wise to do some research on particular insurers before selecting a plan. Look for J.D. Power and AM scores on financial stability and customer satisfaction.

It is vital to gain an understanding of how insurers interact with policyholders, particularly throughout the claims process, and to confirm that they have the financial wherewithal to cover losses. Read theZebra evaluations of the best home insurance providers to learn more.

Comparing prices from as many insurers as you can is the best way to find the least expensive house insurance policy. Your homeowner’s insurance rates could be pricey for a number of reasons, as each insurer evaluates rating variables differently.