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Best homeowners insurance in Delaware for 2023

Following an in-depth analysis, Bankrate determined Allstate, Travelers, State Farm and Nationwide are among the best home insurance companies in Delaware.

Updated May 12, 2023
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Compare the best homeowners insurance companies in Delaware

Our insurance editorial team used multiple factors to determine the four best Delaware homeowners insurance companies outlined below. Data gathered from Quadrant Information Services was used to determine the average annual rate for all major carriers working in the state. The average rate for Delaware homeowners insurance is $679, or roughly $57 a month. 

Financial strength is indicated by AM Best ratings, while customer service quality is reflected by each company's score per J.D. Power's 2022 Home Insurance Study. We also looked at the breadth of optional coverages and discounts, plus how easy the websites and mobile apps are to use. All things considered, we awarded each carrier a Bankrate Score from 0.0 to 5.0, with 5.0 being the best. Top performers include Allstate, Travelers, State Farm and Nationwide.

Allstate
Rating: 3.5 stars out of 5
3.5
Bankrate Score
Info
AM Best
A+
J.D. Power
Not rated
Average monthly premium
$87
Average annual premium
$1,041
Get a quote
Travelers
Rating: 3.3 stars out of 5
3.3
Bankrate Score
Info
AM Best
A++
J.D. Power
835
/1,000
Average monthly premium
$57
Average annual premium
$685
Get a quote
State Farm
Rating: 3.2 stars out of 5
3.2
Bankrate Score
Info
AM Best
A++
J.D. Power
812
/1,000
Average monthly premium
$61
Average annual premium
$735
Read review
Nationwide
Rating: 3.2 stars out of 5
3.2
Bankrate Score
Info
AM Best
A+
J.D. Power
Not rated
Average monthly premium
$44
Average annual premium
$531
Get a quote
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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

*Premiums for $250K in dwelling coverage

The top 4 home insurance companies in Delaware

Allstate

Best for first-time homeowners

Rating: 3.5 stars out of 5
3.5 Bankrate Score
JD Power: Not rated AM Best: A+

Average annual premium

$ 1,041 for $250k dwelling
Allstate Review Get a personalized quote

Why Allstate made our list: Allstate’s easy-to-use online tools make it a solid choice for Delaware homeowners insurance. The company's website features a wealth of educational materials that can help you make the best decision for your property. Although the company’s average rates are a bit higher than the state’s average, several potential discounts might lower your price. However, Allstate has a higher-than-average complaint index per the National Association of Insurance Commissioners (NAIC).

Who Allstate may be good for: If you’re a first-time home buyer who is trying to make sense of the complexities of homeowners insurance, Allstate may be a good option.

Travelers

Best for optional coverages

Rating: 3.3 stars out of 5
3.3 Bankrate Score
JD Power: 835 AM Best: A++

Average annual premium

$ 685 for $250k dwelling
Travelers Review Get a personalized quote

Why Travelers made our list: Travelers may be a good choice if you are looking to personalize your policy. Travelers offers a long list of optional coverage types, including green home coverage, water backup, contents replacement cost and identity theft coverage. There are also several ways to save, including buying multiple policies and remaining claims-free. However, the company earned a below-average J.D. Power score for customer satisfaction.

Who Travelers may be good for: If you are looking for something that's more personal than a standard, cookie-cutter policy, Travelers offers a broad range of optional coverages, called endorsements, that allow you to customize a policy to suit your circumstances.

State Farm

Best for local agents

Rating: 3.2 stars out of 5
3.2 Bankrate Score
JD Power: 812 AM Best: A++

Average annual premium

$ 735 for $250k dwelling
State Farm Review Get a personalized quote

Why State Farm made our list: State Farm is popular among Delaware homeowners for its affordable rates and above-average customer service. The company sells insurance through local agents, so you can likely speak to someone who is familiar with your area if you need help selecting a policy or managing your account. However, customer service is not available 24/7.

Who State Farm may be good for: If you prefer to do business with an agent in person, State Farm is a nice option. The company has 22 local offices in Delaware, so you are likely to find a State Farm near your home.

Nationwide

Best budget option

Rating: 3.2 stars out of 5
3.2 Bankrate Score
JD Power: Not rated AM Best: A+

Average annual premium

$ 531 for $250k dwelling
Nationwide Review Get a personalized quote

Why Nationwide made our list: Nationwide customers typically enjoy lower-than-average premiums — perhaps due in part to numerous available discounts. Those who qualify could save on insurance if they live in a gated community or have a renovated home, among other things. However, note that Nationwide scored lower than average in J.D. Power's customer satisfaction ratings.

Who Nationwide may be good for: Nationwide might be a good choice if you are looking for solid coverage options that won’t break the bank.

How Bankrate chose the best home insurance companies in Delaware

Bankrate's experienced insurance editorial team delved deeply into the world of Delaware homeowners insurance to help you find the best policy for your property. Our research is reflected by our Bankrate Scores, which are based on multiple factors from average rates to the number of available discounts. A high Bankrate Score indicates that a company excels across the board and is worth taking a close look at when choosing an insurance provider.

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46
years of industry expertise
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122
carriers reviewed
Location
20.7K
ZIP codes examined
Dollar Coin
1.2M
quotes analyzed

How much is home insurance in Delaware?

Delaware home insurance costs, on average, $679 per year for $250,000 in dwelling coverage. Compared to the national average of $1,428 per year, Delaware homeowners can expect to pay far less for home insurance. When compared to surrounding states like New Jersey and Maryland, Delaware typically wins in terms of affordability. Homeowners in New Jersey and Maryland pay on average around $775 and $1,164 per year, respectively.

Lower average crime rates and less property to insure may contribute to Delaware’s less expensive home insurance costs.

$150K
$653
$250K
$1,041
$350K
$1,434
$450K
$1,849
$750K
$3,215
$150K
$483
$250K
$685
$350K
$878
$450K
$1,121
$750K
$1,883
$150K
$522
$250K
$735
$350K
$897
$450K
$1,107
$750K
$1,729
$150K
$375
$250K
$531
$350K
$738
$450K
$953
$750K
$2,042
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Advertising Disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Your ZIP code plays a primary role in determining the rate you will pay for insurance. If you live in an area with low crime rates and low claims volume, it is likely that your insurance rates will be reasonable and may even be below the state average. These cities all feature rates that are below the state average.

  • Bear: $614 — 10 percent below the state average
  • Middletown: $617 — 9 percent below the state average
  • Newark: $617 — 9 percent below the state average
  • Odessa: $619 — 9 percent below the state average
  • Winterthur: $619 — 9 percent below the state average

In Delaware, even the most expensive cities for insurance feature average rates that are well below the national average. Having said that, though, if you live in a region of the state that is more exposed to severe weather or has a high crime rate, your rates may be somewhat above the state average.

  • Frederica: $788 — 16 percent above the state average
  • Delmar: $780 — 15 percent above the state average
  • Greenwood: $780 — 15 percent above the state average
  • Harbeson: $780 — 15 percent above the state average
  • Milton: $774 — 14 percent above the state average

How to find the best cheap home insurance in Delaware

Although Delaware's average rates for homeowners insurance are low compared to other coastal states, no one wants to pay more than they have to for robust insurance coverage. Fortunately, you can take several steps to save money on your policy. 

Here’s how to secure the best possible coverage for your property at the lowest possible rate:

  • Shop around: Don't make a decision after you receive your first quote; compare rates for the same coverage from several insurers instead. Otherwise, you may end up unknowingly paying too much. 
  • Bundling: Most insurers will give you a break on your premium if you purchase more than one policy from them, such as homeowners and auto insurance. But you could earn a discount by bundling other insurance products, too.
  • Work on your credit score: A high credit score demonstrates the ability to pay your bills on time and in full. So if you have good credit, your insurer may reward you with a lower rate. The opposite is also true. You may end up paying more if your credit isn’t great.
  • Choose a higher deductible: If you can afford a higher deductible — such as $1,000 rather than $500 — you may land a lower rate. That’s because your insurer would pay less in the event of a claim. However, it’s extremely important to make sure you have enough savings on hand to cover your deductible should you need it.

Common home insurance discounts in Delaware

In addition to the strategies we mentioned above, discounts are also a great way to save money on your policy. Most insurers offer at least a few, and many of them are easy to earn. Here are a few that you may be eligible for in Delaware.

Types of home insurance in Delaware

Home insurance typically includes several standard coverage types, including coverage for your dwelling, personal property and liability. However, standard home insurance only covers certain perils, meaning that some damage-causing situations may not be covered automatically. If you live in Delaware, consider adding these optional coverage types:

  • Flood insurance: Because flooding is common throughout Delaware, you might consider buying flood insurance. Flood damage is not covered by most standard homeowners insurance policies, although a few companies offer flood coverage as an endorsement. If you live in a flood zone and have a mortgage, you may be required to buy flood insurance. Flood insurance is typically available through the federally-backed National Flood Insurance Program or private flood insurers.
  • Water backup coverage: This coverage is optional and can be purchased from many companies as an add-on to your policy. It covers damage to your home and personal belongings that may arise from drain or sewer line backups. Water backup coverage is particularly important for homes with basements.
  • Identity theft insurance: Identity theft is becoming more common as an increasing amount of information is stored digitally. This optional coverage can help pay for the costs of restoring your stolen identity.

Homeowners in Delaware have distinct insurance considerations. Working with an agent familiar with the conditions in the state might be helpful.

Frequently asked questions

Written by
Mary Van Keuren
Insurance Contributor

Mary Van Keuren has written for insurance domains such as Bankrate, Coverage.com, and The Simple Dollar for the past five years, specializing in home and auto insurance. She has also written extensively for consumer websites including Reviews.com and Slumber Yard. Prior to that, she worked as a writer in academia for several decades.

Edited by
Jessa Claeys
Reviewed by Director of corporate communications, Insurance Information Institute