The Cheapest and Best Homeowners Insurance in Huntsville
The Cheapest Home Insurance Companies in Huntsville
The cost of homeowners insurance in Huntsville can be one of the major determining factors in choosing your policy, as most homeowner insurers provide the same core coverages.
MoneyGeek found that the two most affordable companies for the average homeowner, for baseline dwelling coverage in Huntsville are:
- Farmers: $305 per year
- Travelers: $833 per year
If you have an expensive home and need higher dwelling coverage of around $2 million, then the two cheapest options for you are:
- Farmers: $2,843 per year
- Allstate: $7,416 per year
You can use the table below to see how prices change by adjusting the dwelling coverage limits.
The Cheapest Home Insurance in Huntsville, Ranked
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All the homeowners insurance policies in Huntsville with initial baseline dwelling coverage of $100,000 have personal property limits of $40,000; all policies with dwelling coverage of $2 million have personal property limits of $800,000; and all the policies have $100,000 in liability coverage. If you are living in another Alabama city, you can also look up home insurance in Alabama.
The Average Cost of Homeowners Insurance in Huntsville for 2022
The average cost of home insurance in Huntsville is around $1,145, while the state average is around $1,436 and the national average is around $2,103. So, if you live in Huntsville, you will pay lower homeowners insurance premiums, compared to homeowners in most other cities in the country.
Calculate the Cost of Home Insurance in Huntsville
The location of your home can play a vital role in determining home insurance prices. However, additional factors also affect the cost, including how much dwelling coverage you buy, how much personal property coverage you buy, your credit score and others.
Homeowners can compare quotes in Alabama with MoneyGeek’s home insurance calculator.
Home Insurance Calculator
These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in Huntsville
While cost is a pivotal factor when shopping for homeowners insurance in Huntsville, you should also consider the insurer’s customer service record and financial stability. You’ll usually be making a claim during a stressful time and will want to be sure it’s processed quickly and fairly.
Based on MoneyGeek’s study, the top-rated homeowners insurance companies in Huntsville are:
- Best Overall: Farmers
- Runner-up: USAA
MoneyGeek ranked the best homeowners insurance in Huntsville based on affordability, user satisfaction and financial stability. Please note that although USAA is one of the best home insurance companies in Huntsville, it only offers coverage to veterans and military families.
Farmers has one of the highest ratings for affordability as well as a high total score. It offers a homeowners insurance policy for $305, while the average premium in Huntsville is around $1,145. Farmers also offers matching coverage, where the insurer replaces any non-damaged portions of the home to match the newly constructed portions.
Farmers offers rare coverage options and discounts for your home in Huntsville. For instance, with matching coverage, the same materials that are used to replace covered damaged property are used in non-damaged areas. This ensures your home maintains a uniform appearance after any repairs. Usually, homeowners spend around $30,000 to make their homes look uniform, so with this additional coverage, you can save a hefty amount. Farmers also offers certain rare discounts like claim forgiveness and others.Read MoneyGeek's Farmers home Insurance Review
USAA has the highest ratings for customer satisfaction, service and quality. It offers a homeowners insurance policy for $1,117, lower than the average annual premium in Huntsville, which is around $1,145. It offers coverage options, like home rental, earthquake and others.
USAA offers some distinct coverage options, such as home rental coverage, which covers you and your guest if you rent a room or your entire house. However, USAA does not offer any rare discounts. It only offers common discounts, such as bundling policies and claims-free discounts. All these are additional coverage options you can add to your basic policy.Read MoneyGeek's USAA home Insurance Review
Cheapest Home Insurance Companies in Huntsville for Newly Constructed Homes
Newly constructed homes in Huntsville are cheaper to insure than older homes. Homes built with modern materials can be more resistant to damage, thus homeowners are less likely to make a claim. Also, newer materials may be easier for an insurer to replace. Insuring a newly constructed home will cost an average of $840, compared to an average of $1,145 for a home built in 2000.
The cheapest homeowners insurance in Huntsville for those with new homes, with $100,000 in dwelling coverage are:
- Farmers: $236 per year
- Travelers: $555 per year
The Cheapest Home Insurance in Huntsville for New Homes, Ranked
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Cheapest Home Insurance Companies in Huntsville if You Have a Lot of Personal Property
Homeowners insurance covers damage to personal property you keep in the home. The more personal property you want to cover, the higher your home insurance premium will be. In Huntsville, it costs an average of $1,188 to get personal property coverage of up to $250,000 with a standard policy, compared to an average of $1,145 for $100,000 in personal property coverage limits.
The cheapest insurance companies in Huntsville for those with higher personal property coverage limits are:
- Farmers: $315 per year
- Travelers: $878 per year
Cheap Companies in Huntsville for Extra Personal Property Coverage
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Cheapest Home Insurance Companies in Huntsville for High Deductibles
Adding a deductible can have a sizable effect on the cost of home insurance in Huntsville. A higher deductible means you’ll pay more money out-of-pocket if you make a claim, but your policy will cost less each year.
It costs an average of $1,022 if you select a policy with a $2,000 deductible, compared to an average of $1,145 for a $1,000 deductible.
The cheapest insurance companies in Huntsville for policies with $2,000 deductibles are:
- Farmers: $271 per year
- Travelers: $747 per year
The Cheapest Companies in Huntsville for High Deductibles, Ranked
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Cheapest Home Insurance Companies in Huntsville if You Have Poor Credit
In Huntsville, home insurance companies evaluate your credit score as a rating factor for insurance costs. Homeowners who have poor credit scores will pay more every year for home insurance. It costs an average of $1,972 if you have poor credit, compared to an average of $1,145 for homeowners with good credit.
The cheapest home insurers in Huntsville for those with poor credit are:
- Farmers: $1,313 per year
- Auto-Owners Insurance Co: $1,366 per year
The Cheapest Companies in Huntsville for Poor Credit, Ranked
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Getting Online Homeowners Insurance Quotes in Huntsville
To get home insurance quotes in Huntsville online, you will need to be ready with all the information below:
- Replacement cost of your home: This is the cost to rebuild your home, not the market value of your home. It will determine your dwelling coverage limits. You should hire a building contractor or construction professional to get an estimate of your replacement cost.
- Value of personal property you want to insure: The value of your items will determine appropriate personal property coverage limits.
- Personal information: You’ll be asked for your address, information about who lives in your home, your insurance history and other details.
- Information about your house: The insurer will want to know when your house was built, how big it is, what safety devices you have and more.
Homeowners Insurance in Huntsville Analysis: Methodology
MoneyGeek analyzed home insurance premiums from nine companies in Montgomery. The data and information were provided in partnership with Quadrant and quotes were collected for a home with varying coverage levels in order to calculate affordability scores. The base profile was for a home with 2,500 square feet, built in the year 2000 with dwelling coverage of $100,000, personal property coverage of $40,000, liability coverage of $100,000 and a $1,000 deductible. The quotes were also collected for homeowners with newly constructed homes, increased dwelling or personal property coverage, higher deductibles and poor credit scores. We have gathered the customer satisfaction ratings from J.D. Power surveys.
About Mark Fitzpatrick