1. Home
  2. The Best Cheap Homeowners Insurance in Delaware

The 4 Best Homeowners Insurance Companies in Delaware

Pricing is always important, but you also need to analyze other factors such as each provider’s coverage options, quality of customer service, number of complaints and ability to pay claims, among others. This detailed assessment can help you find the best insurer for your house.

MoneyGeek ranked the leading four companies and compared them using points such as the cost of their policies in Delaware, their J.D. Power customer satisfaction score and AM Best financial stability rating to help you find the best homeowners insurance in Delaware.


1

NationwideScore: 94

5/5

Affordability

4.3/5

User Satisfaction

4.5/5

Financial Stability


Nationwide offers homeowners insurance policies that can protect your property against weather damage, lawsuits, fire, theft and other covered losses. This provider will replace or repair your covered possessions, regardless of condition or age, and they also provide discounts for customers who qualify. Nationwide's homeowners policies cover your home itself, along with other structures like detached garages and sheds, as well as personal property such as computers, appliances, furniture and clothing.

Read MoneyGeek's Nationwide Home Insurance Review

2

TravelersScore: 90

4.7/5

Affordability

3.9/5

User Satisfaction

5/5

Financial Stability


Travelers provides homeowners insurance policies that cover damages caused by dangers such as vandalism, lightning, hail, windstorms and fire. Typically, their basic plans do not cover damage from earthquakes and floods. You can buy optional policies and coverages to cover damage caused by additional risks. Travelers offers the following types of home insurance coverage: dwelling, other structures, personal property, loss of use and personal liability. Additional homeowners insurance coverages include special personal property, contents replacement cost, additional replacement cost protection, jewelry and valuable items, personal articles floater, water backup and sump pump discharge or overflow.

Read MoneyGeek's Travelers Home Insurance Review

3

State FarmScore: 77

3.3/5

Affordability

4.1/5

User Satisfaction

5/5

Financial Stability


State Farm's home insurance policies cover personal property even if you're holding items in storage, running errands or on vacation. Their coverage includes keepsakes, hobby items and home and garden accessories. It covers you from threats caused by nature, random acts, plumbing, electrical and other malfunctions. This provider also offers discounts for qualified homeowners.

Read MoneyGeek's State Farm Home Insurance Review

4

AllstateScore: 73

3/5

Affordability

4.2/5

User Satisfaction

4.5/5

Financial Stability


Allstate's standard homeowners insurance policies typically cover damage caused by fire and smoke, theft, falling objects, hail or windstorms, frozen plumbing, water heaters, plumbing and HVAC systems. In addition to standard coverage, you can choose optional coverage such as identity theft restoration, green improvement reimbursement, water backup, yard and garden, scheduled personal property, electronic data recovery, business property, musical instruments and sports equipment.

Read MoneyGeek's Allstate Home Insurance Review

What Is the Average Cost of Homeowners Insurance in Delaware?

$0
$0

home insurance is 0.0% more than the average.

Home insurance in Delaware costs an average of $717 annually for a dwelling coverage baseline amount of $250,000. This rate is 65.9% lower than the national average of $2,103. Providers estimate homeowners insurance in Delaware based on factors such as crime rate, home value and exposure to different weather conditions and natural perils.

Home Insurance Calculator: Estimate the Cost of Homeowners Insurance in Delaware

Your homeowners insurance cost is determined by area-related factors and your individual circumstances. Providers also consider elements such as your home’s age, dwelling value, roof quality, frequency of claims and your credit score to estimate homeowners insurance in Delaware.

moneygeek-logo

Home Insurance Calculator

State

Delaware

Dwelling Coverage

$250,000

Deductible

$500

Liability

$300,000

Personal Property

$150,000

Credit Score

Excellent
moneygeek-logo

low end

on average

high end

These are annual estimates. Get a personalized quote to determine your costs.

The Cheapest Homeowners Insurance Quotes in Delaware

For a dwelling coverage baseline amount of $250,000 in Delaware, Nationwide offers the cheapest average annual premium of $593. This rate is $124 or 17.3% less than the state average.

Cheapest Homeowners Insurance by Dwelling Coverage

Dwelling Coverage:

$250,000
Company
Amountper year
1. Nationwide
In 2020, Nationwide ranked #1 for the cheapest homeowners insurance with $250,000 in dwelling coverage in Delaware.
$593
2. Travelers
In 2020, Travelers ranked #2 for the cheapest homeowners insurance with $250,000 in dwelling coverage in Delaware.
$626
3. State Farm
In 2020, State Farm ranked #3 for the cheapest homeowners insurance with $250,000 in dwelling coverage in Delaware.
$808
4. Allstate
In 2020, Allstate ranked #4 for the cheapest homeowners insurance with $250,000 in dwelling coverage in Delaware.
$841

Best Cheap Homeowners Insurance Companies for Expensive Homes

If you have an expensive home, you should look beyond getting cheap homeowners insurance. In Delaware, State Farm offers the most affordable policies for a $2 million property, with an average annual rate of $4,754. Other providers’ average prices can cost thousands more, so you should compare home insurance quotes before buying a suitable policy.

Cheapest Homeowners Insurance Companies for High-Value Homes
Company
Amountper year
1. State Farm
In 2020, State Farm ranked #1 in Delaware for the cheapest homeowners insurance for high-value homes.
$4,754
2. Travelers
In 2020, Travelers ranked #2 in Delaware for the cheapest homeowners insurance for high-value homes.
$5,012
3. Nationwide
In 2020, Nationwide ranked #3 in Delaware for the cheapest homeowners insurance for high-value homes.
$7,145
4. Allstate
In 2020, Allstate ranked #4 in Delaware for the cheapest homeowners insurance for high-value homes.
$7,260

Best Homeowners Insurance Companies if You Have a Pool

A pool requires a lot of maintenance and thus increases home insurance costs. Providers offer varying Delaware homeowners insurance rates for homes with pools that have an average dwelling price of $250,000. In this state, Nationwide presents the most affordable average annual premium of $639 for houses with a pool.

Cheapest Homeowners Insurance for Pool Home
Company
Amountper year
1. Nationwide
In 2020, Nationwide ranked #1 in Delaware for the cheapest homeowners insurance for homes with a pool.
$639
2. Travelers
In 2020, Travelers ranked #2 in Delaware for the cheapest homeowners insurance for homes with a pool.
$687
3. State Farm
In 2020, State Farm ranked #3 in Delaware for the cheapest homeowners insurance for homes with a pool.
$819
4. Allstate
In 2020, Allstate ranked #4 in Delaware for the cheapest homeowners insurance for homes with a pool.
$841

Cheapest Home Insurance in Delaware if You Have Poor Credit

To compute home insurance rates, carriers also evaluate your credit score. For homeowners with poor credit in Delaware, Nationwide provides the cheapest average annual premium of $593 for a dwelling coverage baseline amount of $250,000.

Cheapest Homeowners Insurance for Poor Credit
Company
Amountper year
1. Nationwide
In 2020, Nationwide ranked #1 for the cheapest homeowners insurance for owners with poor credit in Delaware.
$593
2. Travelers
In 2020, Travelers ranked #2 for the cheapest homeowners insurance for owners with poor credit in Delaware.
$1,453
3. Allstate
In 2020, Allstate ranked #3 for the cheapest homeowners insurance for owners with poor credit in Delaware.
$1,593
4. State Farm
In 2020, State Farm ranked #4 for the cheapest homeowners insurance for owners with poor credit in Delaware.
$1,801

How to Get Homeowners Insurance Quotes in Delaware

To get quotes for home insurance in Delaware, you need to provide the required details to the provider. This information includes your home’s address, age, construction materials, current condition, current market value and whether it’s a single-story or multi-story home. Other important details you should disclose are location, proximity to a fire department, recreational items, use of a security system and if you have obtained a home loan.

In addition, you should convey the amount of coverage you want and whether you store valuable objects in the home that require additional coverage. To get the best homeowners insurance in Delaware, you should obtain and compare individualized quotes from several carriers.

Auto Insurance Rates

Compare Home Insurance Rates

Ensure you're getting the best rate for your home insurance. Compare quotes from the top insurance companies.

Other Considerations for Homeowners Insurance in Delaware

Factors such as the average home value, weather risks and crime statistics in your region have an impact on your annual home insurance premium. For example, Delaware ranks 25th in the U.S. in terms of property crime rate per capita. FBI statistics reveal that there were 4,097 violent crimes and 22,481 property crimes in the state in 2018.

In terms of home value, Delaware ranks 23rd among all states. The average value of homes in this state is $254,108. If your area is prone to hazardous weather conditions like tornadoes and hurricanes, you should be adequately prepared for these emergencies by getting proper coverage.


Do You Need Flood Insurance in Delaware?This is an icon

In Delaware, about 39,700 properties, or 9.4% of all properties in the state, are vulnerable to flood damage. If your provider does not offer flood insurance, you should try to get government-backed National Flood Insurance Program (NFIP) coverage. In addition, you could purchase a supplementary private policy to enhance coverage amounts.

Do You Need Hurricane Insurance in Delaware?This is an icon

Delaware homes also face the risk of damage due to hurricanes. The state ranks 14th for the number of properties at risk. About 67,055 homes in the state are at risk for a Category 4 storm, with average repair costs of $18,944.

Do You Need Hail Insurance in Delaware?This is an icon

Delaware ranks 45th in the U.S. for the number of hail events per year, so you may not require special coverage for hail.

Methodology

MoneyGeek analyzed homeowners insurance premiums from 16 of the top insurance companies in Delaware that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Delaware. Quotes were gathered with an average home profile of 2,500 square feet, built in 2000, with an average dwelling coverage value of $250,000, liability coverage of $100,000 and personal property coverage of $100,000.

Sources