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Comparing home insurance quotes for May 2022

Updated May 10, 2022

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A home insurance quote is an estimate of the coverage types, limits, discounts and premium that you could expect to pay if you purchase insurance from any given homeowners insurance company. If you are shopping for coverage, you may want to compare insurance quotes to help you find the best company for your needs. Bankrate’s team of insurance experts can help you learn how to compare homeowners insurance quotes and what you can expect during the process.

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This advertising widget is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate. HomeInsurance.com LLC services are only available in states where it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. 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.

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What to know when comparing home insurance quotes

Before comparing home insurance quotes, it may be helpful to follow these best practices.

  • Know what types of coverage you need: Standard home insurance policies typically cover your home’s structure, personal belongings, liability protection and additional living expenses. If you’re worried about issues like sewage backups or identity theft, you may want to consider add-on coverage types. An insurance agent may be helpful in walking you through what coverage types might be wise to purchase for your individual needs.
  • Know how much coverage you need: Once you decide what types of coverage you want, you’ll also need to decide what limits you’ll choose. A limit is the dollar amount of damages that your home insurance policy will cover in the event of a covered loss.
  • Make sure you’re holding variables constant between carriers: When generating quotes, make sure you input the same information (like home age and coverage type) across carriers. Otherwise, you won’t be able to make an apples-to-apples comparison.

How Bankrate helps you compare home insurance rates

We understand that every homeowner is different, and your search for home owner insurance quotes should reflect that. When you compare home insurance quotes, you may want to start with the best companies for your needs. If you care about customer service, coverage and overall quality, you may want to pay special attention to each company’s Bankrate Score. Bankrate Scores are calculated through an objective analysis of each company’s J.D. Power score for customer satisfaction, AM Best and S&P scores for financial strength, National Association of Insurance Commissioners (NAIC) complaints, coverage options, discounts and more. We also compiled the latest data from Quadrant Information Services to bring you accurate premium information.

Compare home insurance quotes by company

One of the first considerations when shopping for home insurance coverage may be the price of a policy. In the United States, the average cost of a homeowners policy is $1,393 per year for $250,000 in dwelling coverage. Your homeowners insurance rates will vary based on a number of factors, including the replacement value of your home, your claims history and what company you choose.

Because every property insurer has a different rating system for your home and personal property, having a few providers give you a home insurance quote might help you find a competitively priced policy. The companies listed below are the largest in the nation by market share. Auto-Owners, Erie, Nationwide, Progressive and USAA have lower average rates than the national average.

Company Average annual premium for $250K dwelling coverage
Allstate $1,500
Auto-Owners 1,171
Chubb $1,796
Erie $956
Farmers $1,909
Nationwide $1,161
Progressive $1,080
State Farm $1,568
Travelers $1,400
USAA $1,028

Learn more: Affordable home insurance companies

Compare home insurance quotes by coverage

You may also be interested in seeing how the largest home insurance companies stack up against each other by coverage limit. If you know how much coverage you’re looking for, it may be helpful to look at how the following companies compare within that category. However, keep in mind that the best way to see how companies compare is to get your own homeowner insurance quote from multiple providers. That way, you can see the actual premium you’d pay with each provider.

Company $150k Average Rate $250k Average Rate $350k Average Rate $450k Average Rate
Allstate $1,024 $1,458 $1,913 $2,389
Auto-Owners $899 $1,165 $1,444 $1,758
Chubb $1,057 $1,630 $2,125 $2,631
Erie $611 $897 $1,209 $1,528
Farmers $1,280 $1,980 $2,677 $3,399
Nationwide $703 $1,042 $1,393 $1,737
Progressive $719 $1,026 $1,415 $1,738
State Farm $1,069 $1,503 $1,851 $2,298
Travelers $858 $1,269 $1,685 $2,095
USAA $716 $992 $1,250 $1,502

Compare home insurance quotes by state

Home insurance quotes vary significantly by state. On average, the cheapest state for home insurance is Oklahoma at $3,519 per year, and the most expensive state for home insurance is Hawaii, at $376 per year. Even if the cost of home insurance is higher than average in your state, you may be able to find more affordable rates by comparing home owner insurance quotes and looking for discounts that apply to you.

State Average Home Insurance Rate
Alabama $1,624
Alaska $1,040
Arizona $1,189
Arkansas $2,142
California $1,014
Colorado $1,659
Connecticut $1,184
Delaware $680
Florida $1,353
Georgia $1,376
Hawaii $376
Idaho $835
Illinois $1,322
Indiana $1,150
Iowa $1,289
Kansas $2,694
Kentucky $1,839
Louisiana $1,813
Maine $956
Maryland $1,124
Massachusetts $1,307
Michigan $1,120
Minnesota $1,785
Mississippi $1,773
Missouri $1,558
Montana $1,826
Nebraska $2,816
Nevada $822
New Hampshire $724
New Jersey $751
New Mexico $2,024
New York $987
North Carolina $1,295
North Dakota $1,841
Ohio $1,111
Oklahoma $3,519
Oregon $712
Pennsylvania $730
Rhode Island $1,193
South Carolina $1,142
South Dakota $1,917
Tennessee $1,625
Texas $1,863
Utah $647
Vermont $686
Virginia $1,013
Washington $863
Washington D.C. $902
West Virginia $1,124
Wisconsin $986
Wyoming $805

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Written by
Cate Deventer
Insurance Writer & Editor
Cate Deventer is a writer, editor and insurance professional with over a decade of experience in the insurance industry as a licensed insurance agent.
Edited By Insurance Editor
Reviewed By Director of corporate communications, Insurance Information Institute