Cheapest Homeowners Insurance in Delaware (2024 Rates)


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ByMark Fitzpatrick
Edited byCasie McCoskey
ByMark Fitzpatrick
Edited byCasie McCoskey

Updated: May 22, 2024

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In Delaware, insurance providers offer varied rates tailored to individual needs. For example, while Travelers provides the most affordable overall rates for homeowners insurance, those with low credit scores might find Nationwide more budget-friendly. Meanwhile, State Farm offers the most affordable premiums if you have a new home. MoneyGeek's extensive analysis of numerous quotes identified the most cost-effective options for Delaware homeowners.

MoneyGeek Logo IconCheapestHome InsuranceDelaware
2024

Why Trust MoneyGeek? MoneyGeek used information from the Delaware Department of Insurance and Quadrant Information Services to obtain data on insurance rates, discounts and more.

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These rates reflect the cheapest home insurance quotes in Delaware as of 2024.

Overall Cheapest Homeowners Insurance in Delaware

In Delaware, Travelers stands out as the most cost-effective home insurance provider, with average rates of $413 annually for $100K in dwelling coverage. The cost of home insurance tends to shift with changes in dwelling coverage, as illustrated by the cheapest providers per tier below:

  • Cheapest for $100K: Travelers at $413 per year
  • Cheapest for $250K: Travelers at $718 per year
  • Cheapest for $500K: Travelers at $1,382 per year

Explore MoneyGeek's table and find the cheapest home insurance providers for different dwelling coverage limits.

Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
TravelersAnnual Premium$413
State FarmAnnual Premium$465
EncompassAnnual Premium$516
HomesiteAnnual Premium$624
NationwideAnnual Premium$666

Compare Delaware Home Insurance Quotes Online

Finding low-cost home insurance in Delaware means seeking quotes from various insurance providers, a process that often requires your personal details. For a quicker approach, use MoneyGeek’s simple home insurance calculator, which offers home insurance quotes in Delaware without necessitating upfront personal information.

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Jun 21, 2024

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California
26-29
Excellent (750-850)
Home
$500,000
$500
$150,000
$100,000
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User Info
California
26-29
Excellent (750-850)
Home
$500,000
$500
$150,000
$100,000

Cheapest Home Insurance in Delaware for High-Value Homes

In Delaware, Travelers provides the most affordable home insurance for high-value homes, with an average yearly premium of $2,035 for $750K in dwelling coverage. Dwelling coverage influences the cost of home insurance, and high-value homes typically incur higher premiums.

If you own a home that costs a lot to replace, here are the most cost-effective options in Delaware:

  • Cheapest for $750,000: Travelers at $2,035 per year
  • Cheapest for $1,000,000: State Farm at $2,721 per year

We recommend homeowners purchase dwelling coverage for the home's replacement cost, not its property value. Review the table below to see how premiums can change by provider for higher dwelling coverage limits in Delaware.

Data filtered by:Results filtered by:
Coverages:
Coverages:$750K Dwelling / $375K Personal Property / $500K Liability
Construction Year:
Construction Year:2000
TravelersAnnual Premium$2,035
EncompassAnnual Premium$2,133
State FarmAnnual Premium$2,141
HomesiteAnnual Premium$3,200
NationwideAnnual Premium$4,279

Cheapest Home Insurance in Delaware for New Homes

As the most affordable home insurance provider for new homes in Delaware, State Farm offers policies at $275 per year for $100K in dwelling coverage. Due to their modern construction and minimal to zero prior claim history, newer homes generally attract lower insurance costs in Delaware.

Here are the most affordable insurers in Delaware for new homes:

  • Cheapest for $100,000 dwelling: State Farm at $275 per year
  • Cheapest for $250,000 dwelling: Travelers at $475 per year
  • Cheapest for $500,000 dwelling: Travelers at $905 per year

Check out our table below for a deeper insight into how costs vary based on dwelling coverage for new constructions.

Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
State FarmAnnual Premium$275
TravelersAnnual Premium$282
EncompassAnnual Premium$335
HomesiteAnnual Premium$423
NationwideAnnual Premium$496

Cheapest Home Insurance in Delaware for Low Credit Scores

For Delaware homeowners with lower credit scores, Nationwide is the cheapest home insurance option, offering $100K in dwelling coverage at an average of $666 per year. Insurers in Delaware consider credit scores as a key factor in assessing the risk of policyholders defaulting on payments. Here are the most affordable insurance options for different coverage levels:

  • Cheapest for $100,000: Nationwide at $666 per year
  • Cheapest for $250,000: Nationwide at $1,106 per year
  • Cheapest for $500,000: Nationwide at $2,400 per year

The disparity in insurance costs based on credit scores is clear. For instance, the average annual premium for homeowners in Delaware with poor credit is $1,125, while it's $537 for those with good credit — a difference of $588 per year. For a detailed analysis, refer to MoneyGeek's table below.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
NationwideAnnual Premium$666
TravelersAnnual Premium$982
EncompassAnnual Premium$1,132
State FarmAnnual Premium$1,204
HomesiteAnnual Premium$1,641

Cheapest Home Insurance in Delaware With a Claims History

In Delaware, Travelers stands out as the go-to insurer for homeowners with a home built in 2000 and one claim in the past five years, offering an average rate of $469 annually. A prior claim can lead to steeper insurance premiums due to the perceived heightened risk by the insurer.

Here's a breakdown of the most budget-friendly rates for various dwelling coverages in Delaware:

  • Cheapest for $100,000: Travelers at $469 per year
  • Cheapest for $250,000: Travelers at $815 per year
  • Cheapest for $500,000: Travelers at $1,569 per year

The financial impact of a claims history is clear. For instance, Delaware homeowners with two claims face an average annual premium that's $268 higher than those with no claims. This discrepancy highlights the potential savings by maintaining a minimal claims record.

Data filtered by:Results filtered by:
Claims History:
Claims History:1 claim in past 5 years
Construction Year:
Construction Year:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
TravelersAnnual Premium$469
State FarmAnnual Premium$523
EncompassAnnual Premium$617
NationwideAnnual Premium$735
HomesiteAnnual Premium$785

Cheapest Home Insurance in Delaware by Home and Roof Materials

In Delaware, a home's construction and roofing materials play a pivotal role in determining insurance premiums. Travelers offers the most affordable average rate at $449 annually for homes built with frame construction and shake-treated roofs. Such materials, while common, are more prone to damage, leading to higher insurance costs.

Here are the most affordable home insurance options in Delaware based on dwelling coverage and home type:

  • Cheapest for $100,000: Travelers at $449 per year
  • Cheapest for $250,000: Travelers at $780 per year
  • Cheapest for $500,000: Travelers at $1,503 per year

Upgrading to superior construction with a tile roof can lead to an average annual savings of $118. Given Delaware's unpredictable weather, choosing durable construction and roofing can result in a sturdier home and significant insurance savings.

Data filtered by:Results filtered by:
Home Construction Type:
Home Construction Type:Frame
Roof Material:
Roof Material:Shake-Treated
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
TravelersAnnual Premium$449
State FarmAnnual Premium$465
EncompassAnnual Premium$516
HomesiteAnnual Premium$642
NationwideAnnual Premium$666

Cheapest Home Insurance in Delaware by Deductible

Switching your deductible could save hundreds per year. In Delaware, the most affordable company for a $2,000 deductible is Travelers, with an average annual premium of $361, compared to its $500 deductible policy at $434 yearly.

For $100K in dwelling coverage, the cheapest policies by deductible are:

  • $2,000 deductible: Travelers at $361 per year
  • $1,500 deductible: Travelers at $391 per year
  • $1,000 deductible: Travelers at $413 per year
  • $500 deductible: Travelers at $434 per year

A deductible is your out-of-pocket expense before insurance covers the rest. Opting for a $2,000 deductible over a $500 deductible in Delaware can lead to an average annual savings of $118.

Data filtered by:Results filtered by:
Deductible:
Deductible:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
TravelersAnnual Premium$361
State FarmAnnual Premium$419
EncompassAnnual Premium$433
NationwideAnnual Premium$495
HomesiteAnnual Premium$580

Cheapest Home and Auto Insurance Bundle in Delaware

In Delaware, Travelers offers the cheapest premiums for those bundling home and auto insurance, with rates averaging $1,704 annually. Combining these insurances can lead to notable discounts and a simplified insurance experience.

  • Travelers at $1,704 per year
  • State Farm at $1,759 per year

Consolidating your policies under one insurer not only provides financial benefits but also ensures a unified communication channel for all your insurance needs. Learn more benefits and details on the best Delaware insurance bundle.

TravelersAnnual Premium$1,704
State FarmAnnual Premium$1,759

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.