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Homeowners insurance can help protect your property against unexpected losses and damage. However, many homeowners may feel that they are paying more than necessary for their coverage, which makes comparing home insurance quotes an important step.
This guide from Insurance Help explains how to compare home insurance options, what information you may need when requesting quotes, and how to better understand the coverage available for your home.
One possible starting point is checking with the company that currently provides your auto insurance. This may allow you to explore a bundled insurance option and potentially qualify for a discount.
However, bundling is not always the most affordable choice, so comparing other available options can still be worthwhile.
Here are three general steps that can help you search for homeowners insurance coverage:
Let’s look at each step in more detail.
There are several ways to request and review home insurance quotes.
This option involves contacting an insurance agent online, by phone, or in person.
It can be useful for people who prefer direct assistance from an insurance professional. However, these agents may represent only one insurance company and may not be able to provide quotes from multiple companies for comparison.
Independent agents can work with more than one insurance company, allowing customers to review multiple insurance options.
This can provide more flexibility than working with an agent who represents only one company, although the number of available options may still vary.
Online comparison platforms, such as Insurance Help, can help simplify the process of reviewing multiple homeowners insurance options in one place.
This approach may save time by reducing the need to contact insurance companies individually.
Regardless of the method you choose, you will generally need to provide certain information about yourself and your property.
When requesting a homeowners insurance quote, you may be asked for information such as:
Many homeowners insurance companies calculate coverage based partly on the estimated replacement cost of the home.
Replacement cost generally refers to the estimated amount required to rebuild the property following a covered total loss. This calculation is typically influenced by construction costs, labor, and materials rather than the current real estate market value.
You usually do not need to know the exact replacement cost yourself before beginning the quote process. Some insurance companies may use your property’s address and available property information to estimate appropriate coverage options.
Your main decision may involve choosing how broadly your home and personal belongings are protected.
Different policy types can provide different levels of protection, ranging from more limited coverage to broader protection.
| Policy Option | Your Home Is Covered By | Personal Property Is Covered By |
|---|---|---|
| BASIC: HO-2 Broad Form | Named Perils | Named Perils |
| BETTER: HO-3 Special Form | Open Perils | Named Perils |
| BEST: HO-5 Comprehensive Form | Open Perils | Open Perils |
With a named peril policy, the specific hazards and events covered by your insurance are listed in the policy.
With an open peril policy, the events or hazards that are not covered are generally identified as exclusions.
Whether you choose an open peril or named peril policy, some events and situations may not be included in standard homeowners insurance coverage.
It is important to carefully review the policy details and exclusions before selecting coverage.
Many homeowners insurance policies establish coverage limits using the estimated replacement cost of the home.
Depending on your individual circumstances, you may want to review these limits and make adjustments to better match your personal needs.
The following table shows a typical structure used for homeowners insurance coverage.
| Coverage Type | What It May Cover | Typical Coverage Limit |
|---|---|---|
| Coverage A: Dwelling | Your home and attached garage | Varies |
| Coverage B: Other Structures | Detached structures such as sheds or carports | 10% of Dwelling Coverage |
| Coverage C: Personal Property | Personal belongings, depending on policy terms | 50% of Dwelling Coverage |
| Coverage D: Loss of Use | Temporary living expenses if the home becomes unlivable after a covered loss | 20% of Dwelling Coverage |
| Coverage E: Medical Payments | Certain medical expenses involving people who are not residents of the household | Custom |
| Coverage F: Personal Liability | Certain injury or property damage claims involving the insured | Custom |
Depending on your home and personal belongings, standard policy limits may not always provide enough protection.
Homeowners with valuable personal property may want to explore an endorsement, which is a change or addition to an insurance policy that can modify the coverage provided.
Certain categories of belongings may have specific coverage limits.
Examples listed in standard policy structures can include:
If the value of your belongings exceeds the limits included in your policy, additional coverage may be worth considering.
Personal liability coverage can help provide financial protection if you are found legally responsible for certain injuries or property damage.
Your appropriate liability limit can depend on your individual financial situation and assets.
For dwelling coverage, insurance companies may provide coverage based on a percentage of the estimated replacement cost of the home. The amount available can vary depending on the policy and insurance company.
You may also want to learn more about:
Insurance Help is designed to make it easier to explore and compare available insurance options.
By entering basic information such as your ZIP code, you may be able to begin reviewing home insurance options available through participating insurance providers.
With the Insurance Help comparison experience, you can:
Review multiple available home insurance options without contacting every company individually.
Compare pricing, insurance companies, and available coverage options more easily.
Comparing multiple options may help you identify insurance coverage and pricing that better fits your needs and budget.
We also respect your preferences. The goal is to help you explore available options without unnecessary pressure to select coverage that does not fit your situation.
Insurance Help is focused on providing a simpler way for visitors to explore and better understand insurance options.
You can review available information and use it to help make more informed decisions about your homeowners insurance needs.
Below is an example of the type of home insurance quotes that may be reviewed during a comparison process.
When comparing options, it can be useful to consider:
The goal is not always to find the lowest price, but to identify the option that offers an appropriate balance between coverage and cost.
Now let’s compare the available options using several important factors:
Price is often one of the first things people consider when shopping for homeowners insurance.
While staying within your budget is important, the least expensive policy may not always provide the coverage you need.
If a quote is significantly cheaper than others, take time to review the coverage limits, exclusions, and deductibles before making a decision.
You may also want to ask about available discounts that could apply to your home or circumstances.
In this example, Nationwide offered a lower annual premium than the other two options.
According to the example:
Remember that insurance prices are influenced by many factors, including location, building costs, claims history, and other individual rating factors.
| Company | Average Annual Premium | Average Monthly Premium |
|---|---|---|
| Allstate | $1,561 | $130 |
| American Family | $1,764 | $147 |
| Amica Mutual | $2,843 | $237 |
| Farmers | $1,871 | $156 |
| Nationwide | $1,231 | $103 |
| State Farm | $1,484 | $124 |
| Travelers | $2,674 | $223 |
| USAA | $1,385 | $115 |
Source: Insurance Help
When selecting homeowners insurance, it can be helpful to look beyond the price.
Consider factors such as:
Your home may be one of your most valuable assets, so understanding how an insurance company performs when customers need to file a claim can be an important part of the decision-making process.
In the example provided, Nationwide received a stronger overall result when compared with the other example companies.
When researching insurance companies, you may also review independent information from organizations such as:
| Home Insurance Company | Customer Satisfaction Rating | Financial Strength Rating | Customer Complaint Score |
|---|---|---|---|
| State Farm | 4/5 | A++ | Very Good |
| Allstate | 3/5 | A+ | Good |
| USAA | 5/5 | A++ | Very Good |
| Liberty Mutual | 2/5 | A | Below Average |
| Farmers | 3/5 | A | Good |
| Travelers | 2/5 | A++ | Good |
| American Family | 3/5 | A | Good |
| Nationwide | 2/5 | A+ | Very Good |
| Chubb | 2/5 | A++ | Very Good |
| Erie | 5/5 | A+ | Very Good |
The level of coverage provided by a policy can be just as important as its price.
In the example, the HO-5 policies offered broader protection than the HO-3 policy because the HO-5 structure provided open peril coverage for both the home and personal property, subject to policy exclusions.
Based on the example provided, Nationwide offered a combination of broader coverage and a competitive price.
When comparing policies, always review exactly what is covered, what is excluded, and how coverage applies to your personal belongings and property.
Your deductible can have a significant effect on the cost of your homeowners insurance.
In many situations, selecting a higher deductible may reduce the insurance premium because you agree to pay more out of pocket before certain coverage applies.
However, choosing an extremely high deductible could create financial difficulties if you need to file a claim.
It is also important to check whether separate deductibles apply to events such as hurricanes, wind, or hail.
Home insurance deductibles may be structured as either a fixed dollar amount or a percentage of the insured value.
For example, if you have a $1,000 deductible and experience $5,000 in covered property damage, the deductible amount is generally your responsibility before the remaining covered amount is paid according to the policy.
For example, if your dwelling is insured for $367,000 and your wind and hail deductible is 1%, your deductible would equal $3,670.
In the example provided, Nationwide had the lowest deductible while also offering the lowest premium among the compared options.
Based on the example used for comparison, Nationwide was identified as the strongest overall option.
This result was based on a combination of:
In the example, Nationwide offered broader coverage for the home and personal belongings while also having a lower premium and deductible than the other example options.
Keep in mind that this is only an example. Your best option may be different depending on your home, location, coverage needs, and other individual factors.
Where you live can have a significant impact on the cost of homeowners insurance.
Different states face different risks, including:
These risks can influence the cost and availability of home insurance.
The following examples show average annual home insurance rates and example lower-priced providers by location.
| State | Average Annual Rate | Example Lower-Priced Provider |
|---|---|---|
| Alabama | $1,947 | USAA: $1,452 |
| Alaska | $1,011 | USAA: $926 |
| Arizona | $1,410 | USAA: $815 |
| Arkansas | $2,143 | Farmers: $1,665 |
| California | $791 | Mercury: $564 |
| Colorado | $2,271 | American Family: $1,878 |
| Connecticut | $1,411 | State Farm: $896 |
| Delaware | $716 | Nationwide: $544 |
| Washington, D.C. | $940 | Allstate: $885 |
| Florida | $1,572 | State Farm: $1,261 |
| Georgia | $1,196 | State Farm: $250 |
| Hawaii | $349 | Allstate: $283 |
| Idaho | $1,034 | Farmers: $990 |
| Illinois | $1,673 | State Farm: $690 |
| Indiana | $1,343 | Erie: $961 |
| Iowa | $1,302 | Nationwide: $933 |
| Kansas | $2,862 | USAA: $1,984 |
| Kentucky | $2,001 | USAA: $1,099 |
| Louisiana | $2,037 | State Farm: $1,545 |
| Maine | $695 | State Farm: $876 |
| Maryland | $1,042 | Travelers: $796 |
| Massachusetts | $916 | Amica: $1,278 |
| Michigan | $1,098 | AAA: $567 |
| Minnesota | $1,411 | AAA: $1,167 |
| Mississippi | $1,929 | Allstate: $1,792 |
| Missouri | $2,185 | AAA: $1,544 |
| Montana | $2,074 | Foremost: $876 |
| Nebraska | $2,813 | USAA: $1,890 |
| Nevada | $841 | Farmers: $553 |
| New Hampshire | $722 | State Farm: $706 |
| New Jersey | $706 | Chubb: $661 |
| New Mexico | $1,203 | Foremost: $1,081 |
| New York | $980 | State Farm: $692 |
| North Carolina | $1,661 | Nationwide: $1,591 |
| North Dakota | $1,682 | AAA: $1,904 |
| Ohio | $979 | Erie: $747 |
| Oklahoma | $3,102 | Farmers: $2,676 |
| Oregon | $876 | State Farm: $760 |
| Pennsylvania | $1,004 | Erie: $565 |
| Rhode Island | $1,087 | Amica: $1,097 |
| South Carolina | $1,556 | Allstate: $1,139 |
| South Dakota | $2,004 | Farmers: $1,599 |
| Tennessee | $1,872 | Erie: $1,145 |
| Texas | $2,387 | State Farm: $2,719 |
| Utah | $740 | Farmers: $325 |
| Vermont | $593 | Allstate: $562 |
| Virginia | $1,294 | Erie: $885 |
| Washington | $878 | Allstate: $690 |
| West Virginia | $1,331 | USAA: $834 |
| Wisconsin | $876 | American Family: $1,020 |
| Wyoming | $1,164 | USAA: $641 |
No. Insurance Help is not an insurance carrier. We are an insurance comparison platform designed to help you explore and compare available insurance options in one convenient place.
This can make it easier to review policies and coverage choices that may fit your needs without having to search through multiple providers individually.
Insurance Help may receive compensation through insurance-related partnerships, including commissions associated with policies purchased through participating agents or providers.
We may also offer services designed to help customers review and organize their insurance policies. Any applicable fees or service costs will be communicated as part of the relevant service.
The insurance policy is issued by the applicable insurance provider you choose.
Depending on the available option, you may be able to purchase coverage directly from the insurance provider or complete the process through an authorized agent or service. The insurance company responsible for issuing the policy will provide the applicable policy and coverage terms.
We understand that your personal information is important.
Insurance Help is committed to handling submitted information responsibly and does not sell personal information to spammers or third-party marketers for unsolicited marketing purposes.