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.
The least costly house insurance provider we could find is Nationwide. It charges $1,833 for 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 an accident or disaster, you will need dependable service and enough coverage to compensate 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.
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 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 our prices, 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 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.
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
| State | Cheapest Home Insurance Company |
| Alabama | Farmers |
| Arizona | Progressive |
| California | Allstate |
| Colorado | Auto-Owners |
| Florida | Security First |
| Georgia | Progressive |
| Hawaii | DB Insurance |
| Idaho | Farm Insurance |
| Kentucky | UPC Insurance |
| Maryland | Brethren Mutual |
| New jersey | NJM |
| New York | UPC Insurance |
| Ohio | Ohio Mutual |
| Oregon | Mutual of Enumclaw |
| Virginia | Farmers |
| Washington | PEMCO |
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.
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 several reasons, as each insurer evaluates rating variables differently.