How to Get Cheap Home Insurance Quotes
Getting a home insurance quote is the first step in shopping for a policy. You can find and compare quotes online, though you may also need to go through an agent, either via telephone or email.
What is a home insurance quote?
A home insurance quote is a free, no-obligation estimate that an insurance company provides to show the coverages and rate it can offer. Most companies don’t lock in your rate until you formally accept your policy.
How do I get a homeowners insurance quote?
To get a homeowners insurance quote, you’ll start by choosing your coverage limits, deductible and policy add-ons. After that, you’ll want to find out which discounts you qualify for.
Step 1: Decide how much coverage you need
How much home insurance coverage you need depends mostly on the value of your home.
With a mortgage, lenders require you to insure your home at its replacement value, which is the estimated cost to rebuild it. You can insure your home for less than that if you have a low loan balance or no mortgage at all, but doing so is usually a bad idea.
If you already have home insurance, you can share your current policy’s declarations page with the companies you contact.
Your policy’s dwelling coverage pays to repair damage to your home, and policies usually have other standard coverages, such as:
- Personal property covers your belongings for theft or damage. To be sure that the default coverage amount is enough, you can create a list of your major personal property items and add up their combined value.
- Other structures coverage can pay to repair damage to a detached garage, a shed, fences and other structures not connected to your home. You may need to add more coverage if you have a cottage or a similar finished structure in your yard.
- Loss of use covers temporary living expenses if you can’t stay in your home while it’s being repaired. The default amount is usually enough.
- Personal liability covers injuries or property damage to others if you’re at fault. Ideally, your personal liability limit should be about the same as your net worth.
- Medical payments coverage pays for injuries a guest suffers in your home, regardless of fault. Default limits can range from $1,000 to $5,000 and are usually high enough.
Step 2: Think about your deductible
Your deductible is the amount you pay before insurance funds cover the rest of the claim. Higher deductibles are usually cheaper since the insurance company can pay you less for a claim.
If you need help choosing a deductible, ask for quotes showing your rates with two or three different deductible options. Just make sure the deductible you choose isn’t more than you can afford after a disaster.
Step 3: Find out what policy type you need
Before getting a quote, you should determine the policy form you need. The most common home insurance policy type is an HO-3 policy.
HO-1: An HO-1 policy is the most basic type of home insurance policy. It only protects you from 10 or 11 perils that your policy points out. HO-1 policies aren’t always available, and mortgage companies may reject this type of policy.
HO-2: HO-2 policies offer similar coverage to HO-1 policies, plus a few more perils. Unlike HO-1 policies, though, HO-2 policies cover personal property damage.
HO-3: An HO-3 policy is the most common type of policy, due to the amount of protection it provides. HO-3 policies are open-peril policies for the structure of your home. This means they cover all perils except for those it explicitly excludes. For personal belongings, HO-3 policies cover all explicitly stated perils. They also protect against injuries or damage you cause to others.
HO-5: HO-5 policies offer the most coverage. Unlike HO-3 policies, HO-5s are open-peril policies for both the structure of your home and your personal property.
Step 4: Choose your endorsements
In addition to standard coverages, most home insurance companies offer “endorsements” or extra coverage types that you can add to your policy.
Some of the most important endorsements to consider asking about for your quotes include:
- Scheduled personal property: Most policies only have limited coverage for valuables like jewelry and fine art. Personal property endorsements provide more protection for high-priced valuables you own.
- Water backup protection: Standard home insurance doesn’t typically cover damage from a backup in your home’s sewer or drainage system. This relatively cheap endorsement pays for cleanup and repairs from a failure of one of these systems.
- Extended replacement cost: Extended replacement cost coverage kicks in if the price of rebuilding your home after a total loss is higher than your policy’s limit.
Step 5: Look for discounts
Different insurance companies have their own collections of discounts. In fact, many of the questions on their quote request forms are designed to see which discounts you qualify for.
Sharing details about your home and personal background to get a discount may feel a little uncomfortable, but it can help you save money. Some of the most common home insurance discounts to look for are:
- Bundling: Most companies provide a generous discount if you get car insurance along with your homeowners insurance. This is known as “bundling insurance.”
- Home security discount: Several companies give discounts for having a home security system. Systems with third-party monitoring can usually save you the most.
- Smart home discounts: A few insurers have discounts for homes equipped with smartphone-monitored sensors that detect break-ins, fires and/or water leaks.
- Home renovations: You can sometimes get a discount for recent home renovations, such as roof replacement or upgrades to your plumbing, heating or electrical systems.
- Military discounts: Some insurance companies offer discounts to current and former members of the military.
- Affinity discounts: You might also find discounts for homeowners who work in certain professions or who belong to certain organizations.
Each quote you receive should show the discounts that have been applied to your rate. Don’t be shy about asking if others may be available.
What affects your insurance quote?
How cheap your homeowners insurance quotes are depends on a few factors, such as:
- The age, location and construction features of your home
- The amount of coverage you need
- Your insurance history and, in most states, your credit
Each company weighs these factors differently, making it important to shop around for home insurance quotes. If possible, check quotes from at least three companies before you choose.
Where do I find home insurance quotes?
The easiest way to get home insurance quotes is to request them online. Most large companies let you request quotes directly from their websites.
You can speed up the process by using a quote comparison site or checking out our own list of major homeowners insurance companies.
Some large home insurance companies provide instant quotes, while others will forward your information to an agent, who will follow up by phone or email.
Small and midsize company websites are more likely to give you links to agents in your area. You will usually need to contact these agents for a quote.
Likewise, if you don’t feel comfortable shopping for homeowners insurance online, most companies also provide quotes by phone or in person at an agent’s office.
Cheapest home insurance companies
| Company | Average annual rate |
|---|---|
| Erie | $2,055 |
| State Farm | $2,427 |
| Allstate | $2,560 |
| Country | $2,827 |
| Nationwide | $3,055 |
| American Family | $3,072 |
| Chubb | $2,606 |
| Farmers | $3,801 |
| Travelers | $3,149 |
| Progressive | $2,648 |
| Farm Bureau | $3,639 |
| USAA* | $2,507 |
Each state has distinct factors that will affect your home insurance quote.
Maine has the lowest home insurance quotes in the country, with an average of $1,863 a year. Oklahoma tends to have the highest quotes, at $6,133 a year on average, partly because of the danger from tornadoes there.
| State | Average annual rate |
|---|---|
| Alabama | $3,217 |
| Alaska | $1,475 |
| Arizona | $2,623 |
| Arkansas | $3,722 |
| California | $1,260 |
| Colorado | $4,489 |
| Connecticut | $2,618 |
| Delaware | $1,701 |
| District of Columbia | $1,764 |
| Florida | $3,889 |
| Georgia | $2,869 |
| Hawaii | $632 |
| Idaho | $2,178 |
| Illinois | $2,743 |
| Indiana | $2,643 |
| Iowa | $2,697 |
| Kansas | $5,412 |
| Kentucky | $4,671 |
| Louisiana | $4,033 |
| Maine | $1,863 |
| Maryland | $1,810 |
| Massachusetts | $1,906 |
| Michigan | $2,467 |
| Minnesota | $3,642 |
| Mississippi | $4,201 |
| Missouri | $3,387 |
| Montana | $3,068 |
| Nebraska | $5,912 |
| Nevada | $1,626 |
| New Hampshire | $1,760 |
| New Jersey | $1,744 |
| New Mexico | $3,354 |
| New York | $1,897 |
| North Carolina | $3,378 |
| North Dakota | $2,911 |
| Ohio | $2,207 |
| Oklahoma | $6,133 |
| Oregon | $1,885 |
| Pennsylvania | $1,928 |
| Rhode Island | $2,240 |
| South Carolina | $3,335 |
| South Dakota | $3,605 |
| Tennessee | $2,857 |
| Texas | $5,180 |
| Utah | $1,507 |
| Vermont | $1,339 |
| Virginia | $2,093 |
| Washington | $1,600 |
| West Virginia | $2,511 |
| Wisconsin | $2,159 |
| Wyoming | $2,323 |
Home insurance quotes by state
When getting a quote, home insurance companies can consider the location of your home when calculating your rate. If you live in an area with a high crime rate or severe weather events, your home insurance rate may be higher than average.
| State | Average annual rate |
|---|---|
| Alabama | $3,217 |
| Alaska | $1,475 |
| Arizona | $2,623 |
| Arkansas | $3,722 |
| California | $1,260 |
| Colorado | $4,489 |
| Connecticut | $2,618 |
| Delaware | $1,701 |
| District of Columbia | $1,764 |
| Florida | $3,889 |
| Georgia | $2,869 |
| Hawaii | $632 |
| Idaho | $2,178 |
| Illinois | $2,743 |
| Indiana | $2,643 |
| Iowa | $2,697 |
| Kansas | $5,412 |
| Kentucky | $4,671 |
| Louisiana | $4,033 |
| Maine | $1,863 |
| Maryland | $1,810 |
| Massachusetts | $1,906 |
| Michigan | $2,467 |
| Minnesota | $3,642 |
| Mississippi | $4,201 |
| Missouri | $3,387 |
| Montana | $3,068 |
| Nebraska | $5,912 |
| Nevada | $1,626 |
| New Hampshire | $1,760 |
| New Jersey | $1,744 |
| New Mexico | $3,354 |
| New York | $1,897 |
| North Carolina | $3,378 |
| North Dakota | $2,911 |
| Ohio | $2,207 |
| Oklahoma | $6,133 |
| Oregon | $1,885 |
| Pennsylvania | $1,928 |
| Rhode Island | $2,240 |
| South Carolina | $3,335 |
| South Dakota | $3,605 |
| Tennessee | $2,857 |
| Texas | $5,180 |
| Utah | $1,507 |
| Vermont | $1,339 |
| Virginia | $2,499 |
| Washington | $1,600 |
| West Virginia | $2,511 |
| Wisconsin | $2,159 |
| Wyoming | $2,323 |
What information do I need for a quote?
No matter how you shop for home insurance, you’ll usually need the following information to get an accurate quote:
- Name and date of birth for you (and your spouse, if applicable)
- Address and general information about your home
- Specific home details, including whether you have a pool, a trampoline and/or pets
Insurance companies will also usually look at information on your home’s size and construction features from other sources, such as your county assessor’s website.
When you receive your quote, you’ll see the information the insurance company has about your home. Since this info helps determine your coverage and rates, make sure it’s accurate.
Other things to consider
The deductible amount you choose and how you want your policy to pay out claims also impact your home insurance quote.
Deductible
You can usually pick your deductible amount when getting a quote. A deductible is the amount you have to pay after you submit a claim and before your insurance policy kicks in to pay the rest.
Picking a high deductible usually gets you a lower insurance rate, while picking a lower deductible gets you a higher rate.
Actual cash value vs. replacement cost
When insurance companies pay out claims, they can pay based on the actual cash value or replacement cost value of the damaged items.
If you have an actual cash value policy, your insurance company will pay out your claim while factoring in depreciation. If you have a replacement cost value policy, you will be paid based on the cost of replacing the item.
Replacement cost value policies offer extra protection but are usually more expensive than actual cash value policies.
More frequently asked questions
Your home’s value and location have a large influence over the rate shown in your home insurance quote.
In most states, insurance companies will also factor your credit history into your rates. Recent claims at a home you’re purchasing may also influence your rate.
Yes, and doing so is a good idea. Lenders require you to have homeowners insurance in place before your close date.
In areas with wildfire risks, getting a quote before you submit an offer can help you find out if the home is even insurable.
Homeowners insurance generally isn’t required by state law. However, lenders in every state typically require it for a mortgage.
Your policy’s coverage limit usually needs to match your home’s replacement value, which is the estimated cost of rebuilding it.
For a mortgage, your policy’s limit typically needs to match your home’s replacement value. If you live in a planned community, you may also need to meet your association’s liability insurance requirements.