Best and Cheapest Home Insurance Companies in Delaware (2024)
State Farm has the best and cheapest home insurance in Delaware, with an average cost of $704 per year.
Compare Home Insurance Quotes from Companies in Delaware
Best Cheap Home Insurance in Delaware
ValuePenguin experts compared the biggest home insurance companies in Delaware on their customer service, reliability, coverage benefits and affordability. These top companies stood out as having cheap rates, high ratings or good coverage options.
Average rates are based on thousands of home insurance quotes for every ZIP code in Delaware. Rates are for $350,000 in coverage unless otherwise specified. See the full methodology.
Cheapest home insurance quotes in Delaware
State Farm has the cheapest home insurance for most people in Delaware.
In Delaware, State Farm home insurance costs an average of $704 per year for $350,000 in coverage. That's about one-third cheaper than the statewide average.
Compare Home Insurance Quotes in Delaware
State Farm has the cheapest average rates for homes that are worth $350,000 and up. However, if you have a smaller home that's worth $200,000, Nationwide is the cheapest home insurance company, with rates that are about 37% less than the state average.
Best cheap homeowners insurance in DE by coverage amount
$200,000
$350,000
$500,000
$1 million
Company | Annual rate | ||
|---|---|---|---|
| Nationwide | $452 | |
| State Farm | $506 | |
| Cumberland Mutual | $537 | ||
| Allstate | $580 | |
| Travelers | $1,086 | |
$200,000
Company | Annual rate | ||
|---|---|---|---|
|
| Nationwide | $452 | |
|
| State Farm | $506 | |
| Cumberland Mutual | $537 | ||
|
| Allstate | $580 | |
|
| Travelers | $1,086 | |
$350,000
Company | Annual rate | ||
|---|---|---|---|
|
| State Farm | $704 | |
|
| Nationwide | $752 | |
| Cumberland Mutual | $890 | ||
|
| Allstate | $963 | |
|
| Travelers | $1,564 | |
$500,000
Company | Annual rate | ||
|---|---|---|---|
|
| State Farm | $938 | |
|
| Nationwide | $1,160 | |
| Cumberland Mutual | $1,260 | ||
|
| Allstate | $1,358 | |
|
| Travelers | $2,269 | |
$1 million
Company | Annual rate | ||
|---|---|---|---|
|
| State Farm | $1,627 | |
| Cumberland Mutual | $2,536 | ||
|
| Allstate | $2,795 | |
|
| Nationwide | $2,944 | |
|
| Travelers | $4,154 | |
What home insurance do I need in DE?
| A standard home insurance policy will cover the actual structure of your home from most types of damage. It also covers your belongings. |
| You may need a separate flood insurance policy if your home is at risk of flooding from coastal storm surge, heavy rainfall or nearby rivers. |
Best home insurance overall: State Farm
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Editor's rating
- Cost: $704/yr
State Farm has the cheapest policies and the best customer service ratings in Delaware.
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Reliable coverage
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Great customer service
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Affordable rates
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Best for bundling with car insurance
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Limited coverage add-ons
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Often need to use an agent to buy a policy
State Farm is one of the best home insurance companies in the country. And its cheap rates in Delaware make it the ideal combination of great coverage at a low price.
Customers are usually happy with the State Farm claims process, according to J.D. Power's survey. That means if your home is damaged, you can feel confident State Farm will help you get your home repaired quickly.
State Farm is also the best choice for bundling home and auto insurance in Delaware.
Beyond just having cheap home insurance, it has the cheapest car insurance in Delaware for most people. Plus you'll get an extra bundling discount of around 24%.
The main downside is that State Farm coverage options are fairly basic. You'll have more choices to customize your coverage with a company such as Nationwide or Travelers.
Cheapest home insurance for small homes: Nationwide
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Editor's rating
- Cost: $452/yr for $200,000 in coverage
- $752/yr for $350,000 in coverage
Nationwide has good coverage options and the cheapest rates for smaller homes.
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Lots of discounts
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Affordable rates for many homes
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Good app and digital tools
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Not a good deal for home and auto bundle
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Customer satisfaction isn't great
Nationwide is 37% cheaper than average for smaller homes in Delaware. For a home that would cost $200,000 to rebuild, Nationwide is $54 per year cheaper than State Farm.
Plus, Nationwide's large set of discounts can mean that it has affordable rates for many people in Delaware. You can save on home insurance by:
- Having smoke detectors
- Not having any home insurance claims
- Recently buying your home
- Having a new roof
- Renovating home systems such as plumbing, heating or electrical
Nationwide has a great mobile app to make online payments and manage your policy without having to call customer support.
However, Nationwide is not usually a good deal for bundling home and auto insurance. That's because its car insurance is expensive in Delaware. Also, its customer satisfaction is not as good as State Farm's, so it might be more frustrating if you have to call your insurance company.
Best home insurance for custom policies: Travelers
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Editor's rating
- Cost: $1,564/yr
Travelers is best if you don't mind paying more for a policy that's customized to your needs.
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Great coverage options
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Few customer complaints
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Good for bundling with car insurance
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Expensive rates
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Difficult claims process
Travelers home insurance policies are expensive in Delaware. But the extra cost might be worth it if you have an expensive home or have specific coverage needs. Extra coverage options include:
- Extended replacement coverage
- Plumbing and sump pump backup
- Identity fraud protection
- Green home coverage
- Options for extra coverage of valuables, jewelry and collectibles
Travelers has mixed reviews from customers. The company received very few formal complaints, but on J.D. Power's survey about the claims process, it ranked as one of the worst companies.
However, its cheap rates for car insurance in Delaware make it a great choice for bundling multiple policies together.
Average home insurance cost in Delaware
The average cost of home insurance in Delaware is $1,091 per year for $350,000 in coverage.
Dwelling coverage | Annual cost |
|---|---|
| $200,000 | $716 |
| $350,000 | $1,091 |
| $500,000 | $1,557 |
| $1,000,000 | $3,080 |
Delaware is the fifth cheapest state in the U.S. for home insurance rates. Rates in Delaware are about half of the national average cost of home insurance, which is $2,151 per year for $350,000 in coverage.
Where is home insurance cheap in Delaware?
Home insurance in Wilmington, the largest city in Delaware, costs an average of $885 per year. That's 19% cheaper than the state average.
Pike Creek has the cheapest home insurance in Delaware, at $807 per year. This inland town in northern Delaware is near the state's flagship university and has been named one of the country's best places to live.
Home insurance is the most expensive in Fenwick Island, averaging $1,965. The coastal town has rates that are nearly double the Delaware state average.
Cost of Delaware home insurance by city
City | Annual rate | % from avg. |
|---|---|---|
| Arden | $870 | -20% |
| Bear | $888 | -19% |
| Bellefonte | $954 | -13% |
| Bethany Beach | $1,958 | 79% |
| Bethel | $1,091 | 0% |
Rates are for a policy with $350,000 of dwelling coverage.
Best-rated home insurance companies in Delaware
State Farm is the best-rated insurance company in Delaware.
State Farm has top-notch customer service and satisfied customers. That makes it a well-rounded company that's a good choice for most people in Delaware.
Nationwide and Travelers are the next best insurance companies after State Farm.
Company |
Rating
|
Complaints
|
|---|---|---|
| State Farm | Average | |
| Nationwide | Average | |
| Travelers | Low | |
| Allstate | Average | |
| American Family | Average |
Worst home insurance company in Delaware
Cumberland Mutual is the worst major home insurance company in Delaware.
- Cumberland Mutual isn't a good choice for most homeowners. It has 20% more customer complaints than average. That's high considering that small companies with local agents usually have good customer service.
- However, it may be worth it if you're a landlord or if you rent out a home or part of a home. Cumberland Mutual offers policies that cover many potential issues, including property damage, liability and business income protection.
What home insurance coverage is important in Delaware?
Most people in Delaware need a standard home insurance policy. This will pay for a wide range of damage whether you live on the coast near Delaware Bay or inland near the Maryland border.
This home insurance policy is required to meet the terms of your mortgage.
Wind damage is covered by home insurance
Delaware homes can get damaged from wind because of storms, especially if the homes are near the Atlantic coast.
Fortunately, wind damage is covered by most types of home insurance policies. This can cover anything from shingles ripped off your roof to a tree branch falling and hitting your home.
Flood insurance can protect you from hurricane damage
Flooding isn't covered by a standard home insurance policy. And flooding is common for Delaware homes near rivers and the ocean. Inland homes could also flood after a heavy rainstorm and if water drains toward your home instead of away from it.
To protect your home from flood damage, you'll need to get a separate flood insurance policy.
The cost of flood insurance averages $929 per year in Delaware. However, your rates could be higher or lower based on the chance that your home will flood.
If your home is located in a high-risk flood area, your mortgage company might require that you have flood insurance.
How to get the best home insurance in Delaware
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Compare home insurance quotes from several companies to find the best rate.
Insurance companies each set their rates in different ways. So by shopping around, you can find the company that has the best deal for your home. Factors such as the age of your home, its location and personal details such as your credit score all contribute to how much you might pay to insure your home.
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You'll get the best coverage with a policy that pays for replacement cost or better.
A replacement cost policy means if something in your home is damaged, your insurance will pay you the cost to replace it with a new product that's of similar quality. For example, if your hot water heater is damaged, the insurance payout pays for you to buy a similar one at the store. If you get an actual cash value policy, insurance will pay less, so you'll have to pay for more of the costs yourself.
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Choose the home insurance coverage extras that give you the best protection.
In addition to the standard coverage your policy has for your home and belongings, you can add coverage for things like plumbing backups, boats, identity theft and expensive items like an engagement ring. Insurance companies each have their own set of coverage options. So you may be able to choose a package of extra coverage or add on options individually.
Frequently asked questions
How much is home insurance in Delaware?
The average cost of home insurance in Delaware is $1,091 per year for a $350,000 policy. However, you could pay around $704 per year if you get a policy from a cheap company such as State Farm.
Who has the cheapest home insurance in Delaware?
State Farm has the cheapest home insurance for most people in Delaware. Policies cost an average of $704 per year for $350,000 in coverage. However, if you have a smaller home, you could get cheaper rates from Nationwide, which costs $452 per year for a policy with $200,000 in coverage.
Who has the best home insurance in Delaware?
State Farm is the best-rated home insurance company in Delaware. It also has the cheapest rates, which are about 35% lower than average. This means State Farm is a good deal for reliable coverage with great customer service.
Should homeowners in Delaware buy flood insurance?
Many Delaware homes experience flooding, especially near rivers and in flood basins. Any homeowners who are worried about their homes should consider buying a separate flood insurance policy.
Methodology
The cost of home insurance in Delaware is based on thousands of quotes from the top companies using every ZIP code in the state. Quotes are for a 45-year-old married man with no prior insurance claims. Unless otherwise stated, averages are for a policy with $350,000 in dwelling coverage.
Quotes include the following coverage limits:
- Dwelling coverage: $200,000, $350,000, $500,000 or $1 million
- Personal liability: $100,000
- Medical payments: $5,000
- Deductible: $1,000
ValuePenguin's analysis used insurance rate data from Quadrant Information Services, which was publicly sourced from insurance filings. These quotes should only be used for comparison purposes, as your own quotes may be different.
Home insurance ratings are based on complaint data from the National Association of Insurance Commissioners (NAIC), as well as the J.D. Power customer satisfaction survey and ValuePenguin's own ratings.
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.