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.
Average homeowners insurance cost in June 2023
The average cost of homeowners insurance throughout the United States is $1,428 per year for a policy with $250,000 in dwelling coverage. However, your actual rates may vary depending on a variety of factors.
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict , this post may contain references to products from our partners. Here’s an explanation for . Our content is backed by Coverage.com LLC, a licensed entity (NPN: 19966249). For more information, please see our
What To Know First
- In 2023, the average homeowner spends $1,428 on homeowners insurance per year for a policy with $250,000 in dwelling coverage.
- On average, the most expensive states for homeowners insurance in 2023 are Oklahoma, Kansas and Nebraska, while the least expensive states are Hawaii, Vermont and Delaware.
- Homeowners insurance costs are rising, likely due to inflation, supply chain disruptions and increased costs for materials and labor.
On This Page
- How much does homeowners insurance cost?
- How much does home insurance cost in my state?
- How much does home insurance cost by company?
- Compare annual home insurance rates by carrier
- How much does home insurance cost by coverage amount?
- What are other types of home insurance costs?
- What does home insurance cover?
- What affects my homeowners insurance rate?
- How to reduce the cost of homeowners insurance
- Frequently asked questions
- Methodology
How much does home insurance cost in my state?
To get a better sense of what your home policy might cost, it could help to review average home insurance rates in each state. Some states may not face a high risk of natural disasters, while others have a cheaper cost of living that makes it more affordable to rebuild after a claim. Based on Bankrate’s analysis of average premiums across the country, home insurance with $250,000 in dwelling coverage can cost less than $700 per year, as seen in Hawaii, Vermont and Delaware, but cost close to or over $3,000 a year in states like Oklahoma, Kansas and Nebraska. Below is a breakdown of the average cost of homeowners insurance by state.
Learn more: How to estimate the cost of home insurance
Average home insurance cost by state
The average annual home insurance premium for a home with a dwelling coverage amount of $250,000.
State
|
Average annual rate
|
Average monthly rate
|
% difference from national average
|
---|---|---|---|
Alabama | $1,631 | $136 | 14% |
Alaska | $1,056 | $88 | -26% |
Arizona | $1,268 | $106 | -11% |
Arkansas | $2,123 | $177 | 49% |
California | $1,225 | $102 | -14% |
Colorado | $2,152 | $179 | 51% |
Connecticut | $1,244 | $104 | -13% |
Delaware | $679 | $57 | -52% |
Florida | $1,981 | $165 | 39% |
Georgia | $1,394 | $116 | -2% |
Hawaii | $382 | $32 | -73% |
Idaho | $905 | $75 | -37% |
Illinois | $1,410 | $117 | -1% |
Indiana | $1,225 | $102 | -14% |
Iowa | $1,318 | $110 | -8% |
Kansas | $3,083 | $257 | 116% |
Kentucky | $2,009 | $167 | 41% |
Louisiana | $1,992 | $166 | 40% |
Maine | $947 | $79 | -34% |
Maryland | $1,164 | $97 | -18% |
Massachusetts | $1,199 | $100 | -16% |
Michigan | $1,527 | $127 | 7% |
Minnesota | $1,930 | $161 | 35% |
Mississippi | $1,900 | $158 | 33% |
Missouri | $1,769 | $147 | 24% |
Montana | $1,736 | $145 | 22% |
Nebraska | $2,951 | $246 | 107% |
Nevada | $889 | $74 | -38% |
New Hampshire | $736 | $61 | -48% |
New Jersey | $775 | $65 | -46% |
New Mexico | $1,789 | $149 | 25% |
New York | $1,506 | $126 | 5% |
North Carolina | $1,294 | $108 | -9% |
North Dakota | $1,900 | $158 | 33% |
Ohio | $1,140 | $95 | -20% |
Oklahoma | $3,659 | $305 | 156% |
Oregon | $723 | $60 | -49% |
Pennsylvania | $760 | $63 | -47% |
Rhode Island | $1,223 | $103 | -14% |
South Carolina | $1,172 | $98 | -18% |
South Dakota | $2,105 | $175 | 47% |
Tennessee | $1,755 | $146 | 23% |
Texas | $1,967 | $164 | 38% |
Utah | $696 | $58 | -51% |
Vermont | $658 | $55 | -54% |
Virginia | $887 | $74 | -38% |
Washington | $948 | $79 | -34% |
Washington D.C. | $893 | $74 | -37% |
West Virginia | $1,125 | $94 | -21% |
Wisconsin | $890 | $74 | -38% |
Wyoming | $954 | $79 | -33% |
*Rates are for $250,000 in dwelling coverage
What are the five cheapest states for homeowners insurance?
- Hawaii: $382 per year — 73 percent below national average
- Vermont: $658 per year — 54 percent below national average
- Delaware: $679 per year — 52 percent below national average
- Utah: $696 per year — 51 percent below national average
- Oregon: $723 per year — 49 percent below national average
What are the five most expensive states for homeowners insurance?
The states with the most expensive average annual home insurance premiums are Oklahoma, Kansas, Nebraska, Colorado and Arkansas. In each of these states, the average price of home insurance exceeds $2,000 per year, and in the two most expensive states — Oklahoma and Kansas — homeowners pay over $3,000 per year, on average. The higher rates are likely due to a higher risk of widespread home damage; many of these states are in an area of the country where tornado damage is relatively common. The average cost of homeowners insurance in these states is outlined below.
- Oklahoma: $3,659 per year — 156 percent above national average
- Kansas: $3,083 per year — 116 percent above national average
- Nebraska: $2,951 per year — 107 percent above national average
- Colorado: $2,152 per year — 51 percent above national average
- Arkansas: $2,123 per year — 49 percent above national average
Average cost of home insurance by city
City
|
Average annual rate
|
Average monthly rate
|
Percent difference from national average
|
---|---|---|---|
Los Angeles, CA | $1,368 | $114 | -4% |
Chicago, IL | $1,570 | $31 | 10% |
Houston, TX | $1,934 | $161 | 35% |
Phoenix, AZ | $1,335 | $111 | -7% |
Dallas, TX | $2,108 | $119 | 48% |
Austin, TX | $1,715 | $143 | 20% |
Fort Worth, TX | $2,090 | $174 | 46% |
Columbus, OH | $1,157 | $96 | -19% |
Charlotte, NC | $1,256 | $105 | -12% |
Indianapolis, IN | $1,319 | $110 | -8% |
Seattle, WA | $932 | $78 | -35% |
Denver, CO | $2,170 | $181 | 52% |
Washington, D.C. | $893 | $74 | -37% |
Nashville, TN | $1,620 | $135 | 13% |
Detroit, MI | $1,557 | $130 | 9% |
Las Vegas, NV | $908 | $76 | -36% |
Oklahoma City, OK | $4,148 | $346 | 190% |
Portland, OR | $686 | $57 | -52% |
Memphis, TN | $1,911 | $159 | 34% |
Baltimore, MD | $1,224 | $102 | -14% |
*Rates are for $250,000 in dwelling coverage
How much does home insurance cost by company?
Home insurance is a many-faceted product, and in addition to your rating factors, the amount of coverage you purchase and the company you choose may also impact the price of your policy. While $250,000 in dwelling coverage may be sufficient for some homeowners, it may not be enough for others.
Based on Bankrate’s analysis of policies with $250,000 in dwelling coverage, the most expensive carriers were Amica, The Hartford and Chubb, while Erie and USAA had the cheapest average home premiums for this coverage amount. Below you’ll find premium data provided by Quadrant Information Services for different coverage selections from some of the largest carriers by market share. We’ve also included our Bankrate Score to help you understand how these companies ranked based on several metrics, including average rate, J.D. Power customer satisfaction score, financial strength, available digital tools and more. The Bankrate Score is out of a possible 5.0 points.
Insurance company | Average annual rate | Average monthly rate |
---|---|---|
USAA
3.7
Bankrate Score
|
Average annual rate
$969
|
Average monthly rate
$81
|
State Farm
3.2
Bankrate Score
|
Average annual rate
$1,462
|
Average monthly rate
$122
|
Erie
3.1
Bankrate Score
|
Average annual rate
$957
|
Average monthly rate
$80
|
Chubb
3.5
Bankrate Score
|
Average annual rate
$1,775
|
Average monthly rate
$148
|
Amica
3.5
Bankrate Score
|
Average annual rate
$2,996
|
Average monthly rate
$250
|
American Family
3.1
Bankrate Score
|
Average annual rate
$1,168
|
Average monthly rate
$97
|
Nationwide
3.2
Bankrate Score
|
Average annual rate
$1,153
|
Average monthly rate
$96
|
Allstate
3.5
Bankrate Score
|
Average annual rate
$1,340
|
Average monthly rate
$112
|
Farmers
2.9
Bankrate Score
|
Average annual rate
$1,664
|
Average monthly rate
$139
|
Travelers
3.3
Bankrate Score
|
Average annual rate
$1,249
|
Average monthly rate
$104
|
The Hartford
3.5
Bankrate Score
|
Average annual rate
$1,973
|
Average monthly rate
$164
|
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.
Insurance company | Average annual rate | Average monthly rate |
---|---|---|
USAA
3.7
Bankrate Score
|
Average annual rate
$1,208
|
Average monthly rate
$101
|
State Farm
3.2
Bankrate Score
|
Average annual rate
$1,794
|
Average monthly rate
$150
|
Erie
3.1
Bankrate Score
|
Average annual rate
$1,269
|
Average monthly rate
$106
|
Chubb
3.5
Bankrate Score
|
Average annual rate
$2,313
|
Average monthly rate
$193
|
Amica
3.5
Bankrate Score
|
Average annual rate
$4,313
|
Average monthly rate
$359
|
American Family
3.1
Bankrate Score
|
Average annual rate
$1,464
|
Average monthly rate
$122
|
Nationwide
3.2
Bankrate Score
|
Average annual rate
$1,519
|
Average monthly rate
$127
|
Allstate
3.5
Bankrate Score
|
Average annual rate
$1,772
|
Average monthly rate
$148
|
Farmers
2.9
Bankrate Score
|
Average annual rate
$2,232
|
Average monthly rate
$186
|
Travelers
3.3
Bankrate Score
|
Average annual rate
$1,654
|
Average monthly rate
$138
|
The Hartford
3.5
Bankrate Score
|
Average annual rate
$2,452
|
Average monthly rate
$204
|
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.
Insurance company | Average annual rate | Average monthly rate |
---|---|---|
USAA
3.7
Bankrate Score
|
Average annual rate
$1,440
|
Average monthly rate
$120
|
State Farm
3.2
Bankrate Score
|
Average annual rate
$2,224
|
Average monthly rate
$185
|
Erie
3.1
Bankrate Score
|
Average annual rate
$1,601
|
Average monthly rate
$133
|
Chubb
3.5
Bankrate Score
|
Average annual rate
$2,858
|
Average monthly rate
$238
|
Amica
3.5
Bankrate Score
|
Average annual rate
$5,400
|
Average monthly rate
$450
|
American Family
3.1
Bankrate Score
|
Average annual rate
$1,749
|
Average monthly rate
$146
|
Nationwide
3.2
Bankrate Score
|
Average annual rate
$1,884
|
Average monthly rate
$157
|
Allstate
3.5
Bankrate Score
|
Average annual rate
$2,205
|
Average monthly rate
$184
|
Farmers
2.9
Bankrate Score
|
Average annual rate
$2,832
|
Average monthly rate
$236
|
Travelers
3.3
Bankrate Score
|
Average annual rate
$2,051
|
Average monthly rate
$171
|
The Hartford
3.5
Bankrate Score
|
Average annual rate
$2,889
|
Average monthly rate
$241
|
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.
Top five least expensive companies for home insurance
- Erie: $957 per year — 33 percent below national average
- USAA: $969 per year — 32 percent below national average
- Auto-Owners: $1,049 per year — 27 percent below national average
- Nationwide: $1,075 per year — 22 percent below national average
- Travelers: $1,249 per year — 13 percent below national average
Compare annual home insurance rates by carrier
Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit, and $250k in dwelling coverage.
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.
Ready for your rates?
While the rates shown are a helpful starting point, they’re no substitute for personalized quotes. Answer a few questions to start your quotes in 3 minutes or less.
How much does home insurance cost by coverage amount?
Dwelling coverage limit | Average annual rate | Average monthly rate |
---|---|---|
$150,000 | $975 | $81 |
$250,000 | $1,428 | $119 |
$350,000 | $1,879 | $157 |
$450,000 | $2,343 | $195 |
$750,000 | $3,761 | $313 |
Learn more: How much home insurance do you need?
What are other types of home insurance costs?
Home insurance cost by credit tier
In some states, your credit history could be used as an insurance rating factor. Depending on where you live, home insurance companies will generally review your credit history when you apply for a quote. This is because credit history can be an indicator of risk — studies show that those with lower credit scores tend to file more claims compared to those with higher credit scores. As a result, home insurance for people with bad credit is generally more expensive compared to those with average, good and excellent credit scores.
Not all states factor in credit scores, however. California, Maryland and Massachusetts do not allow the use of credit scores for insurance rating purposes.
Dwelling coverage amount | Poor credit | Average credit | Good credit | Excellent credit |
---|---|---|---|---|
$250,000 | $3,274 | $1,571 | $1,428 | $1,207 |
Home insurance cost by claims history
Damaging events can happen to even the most responsible homeowner. If your home was damaged by an event covered by your policy, like wind or fire, has been robbed or someone sues you for injuries sustained at your residence, your home insurance policy could step in to cover the damages. However, a surcharge could be added to your policy at renewal.
Type of claim | Average dollar amount of claim paid out* | Average annual rate after a claim |
---|---|---|
Wind | $12,000 | $1,570 |
Liability | $31,000 | $1,749 |
Theft | $5,000 | $1,763 |
Fire | $80,000 | $1,773 |
Home insurance costs by deductible amount
Your deductible is another factor that can impact the cost of your home insurance. Generally, the higher your deductible, the lower your rate. When you set a high deductible, you take on some of the risk that would otherwise be transferred to your homeowners insurance company. In turn, your carrier will usually offer you a cheaper premium.
A high deductible means a higher out-of-pocket expense in the event of a covered claim, so choosing a deductible you can comfortably pay with no warning is essential. While selecting a high deductible can be a valid cost-saving measure for some homeowners, others might experience financial hardship if they need to file a claim and can’t afford their deductible. Additionally, your lender may issue maximum deductible limits under the terms of your loan.
To provide a baseline, below you’ll find average rates for some of the most common home insurance deductible amounts:
Deductible amount | Average annual rate for $250,000 in dwelling coverage |
---|---|
$1,500 | $1,368 |
$2,000 | $1,273 |
$5,000 | $1,111 |
Home insurance cost by home age
The age of your home is also a factor that home insurance companies consider when determining your premium. Older homes might be more expensive to build back after a loss, especially if you need to bring them up to modern safety and building codes. Below is a look at how much an average home insurance policy might cost depending on the age of a home.
Date home was built | Average annual rate |
---|---|
1959 | $1,748 |
1982 | $1,750 |
1992 | $1,748 |
2010 | $1,669 |
2020 | $1,218 |
What does home insurance cover?
Every homeowners insurance policy provides specific protections which help guard against substantial financial loss due to fire, storms, theft, vandalism and legal liability. The most common home insurance coverage types include:
- Dwelling coverage, equal to your home’s rebuilding cost: This pays for covered damages, up to your dwelling coverage limit, that affect your home’s primary structure and attached structures such as carports or garages. This coverage is typically set at replacement cost value.
- Other structures coverage, usually 10–20 percent of your dwelling coverage limit: This coverage provides property damage protection for structures not attached to your home, such as a detached garage, driveway, fences or shed.
- Personal property coverage, usually 50–75 percent of your dwelling limit: This protects the contents of your home, including clothing, furniture and electronics. Within your personal property coverage, you may have additional sublimits. For example, you may only have 10 percent of your personal property coverage for items stored at other locations, and you may have a cap on coverage for certain items, like fine art and jewelry. You may have the option to choose between replacement cost coverage or actual cash value coverage. Replacement cost policies are typically more expensive than actual cash value policies.
- Personal liability coverage, usually between $100,000 and $500,000: This pays for medical expenses or damage to others’ property if you are legally liable for injuries on your property, incidents that happen away from your property or damage to others’ property. It also covers legal fees if a lawsuit is brought against you by the injured party.
- Medical payments coverage, usually between $1,000 and $5,000: This covers the medical expenses for someone outside your household who is injured on your property, regardless of fault.
- Loss of use coverage, usually between 10–30 percent of your dwelling coverage: This provides coverage for additional living expenses should you need to temporarily stay elsewhere while your home is being repaired after a covered claim.
Not every homeowners insurance policy contains the same components. If you are unsure what your policy covers, talk to your agent or insurance company for clarification.
What affects my homeowners insurance rate?
Insuring your home comes with some risk for an insurance company. Like how cars’ risks are determined on auto insurance, certain types of houses — and houses located in certain areas — create a higher likelihood that the company will have to pay claims. Average home insurance rates vary based on several rating factors. Understanding the most significant factors that impact your home insurance premium might help to guide you when shopping for a home.
Home characteristics
Every home is different, which means insurance companies rate each home on a case-by-case basis. Your home’s specific characteristics will play a role in determining how much you pay for homeowners insurance.
- Year built: Older houses often cost more to insure because repair costs may be higher than they would for newer homes. Repairing or replacing features such as custom molding, plaster walls and wood floors could require specialists, making these features more expensive to repair in the event of a home insurance claim.
- Roof condition: The age and condition of a home’s roof play a role in homeowners insurance rates. Older roofs may not withstand windstorms or hail damage as well as newer roofs. Likewise, roof materials can affect your homeowners insurance rate. Some types of roofing material may be more resistant to damage, which could lower your premium, and other types may be more expensive to repair or replace, which could increase your premium.
- Construction quality: Many homeowners policies do not cover the expense of bringing a home up to the current building code following a claim. Insurance companies typically offer an optional “ordinance or law endorsement,” which can help pay for expenses related to code upgrades made during covered repairs.
- Special features: Features such as hot tubs and swimming pools can make a home more appealing, but they can also increase homeowners insurance premiums if they raise repair and replacement costs and add liability risks. Homes with recreational features such as a pool, sauna or hot tub might need higher liability coverage in case a guest sustains an injury.
Location characteristics
Geographic location typically impacts your insurance rates because every area of the country has a different risk level for potential damages. Some areas may have a higher risk of wind damage, for example, while other areas of the country often sustain damage from fires.
- Weather-related risks: Standard homeowners policies generally do not cover flood damage or damage from earthquakes. In fact, some insurance companies do not cover homes in flood zones at all. Other insurance companies sell private flood insurance or offer earthquake coverage in separate policies or endorsements to protect against these types of disasters.
- Fire risk: According to the Triple-I, structure fires caused over $8.7 billion worth of residential home damage in 2021, the most recent year with available data. Insurance companies rate homeowners premiums based on proximity to a fire station and fire hydrants because rapid emergency response often minimizes damage.
- Property crime risk: If you live in a high-crime neighborhood, your insurance rates might be impacted. You may be able to help offset this cost to your premiums by installing additional safety features in your home, such as deadbolts and a security alarm system.
Learn more: What does homeowners insurance cover?
- Although signs point to cooling inflation, the increased cost of materials and labor continue to contribute to rising homeowners insurance rates. While not ideal, these rate increases help companies ensure they have enough money in their claims reserves to pay out higher losses.
- In an effort to stabilize the collapsing Florida homeowners insurance market, the state legislature passed Senate Bill 2-A in late 2022. Among many things, this bill focused on eliminating one-way attorney fees and the assignment of benefits that help perpetuate widescale roofing scams. In another show of promise, a new home insurance carrier (Tailrow) has applied to do business in the state. Although it will likely be some time before homeowners in Florida see relief in the form of lower premiums, the state’s volatile homeowners insurance market could be heading in the right direction.
- Hurricane risk is causing home insurance struggles for Louisiana homeowners and insurance carriers operating in the state. However, Louisiana passed a bill in early 2023 that resulted in an insurance incentive program. This program could bring more insurers to the state, motivate current Louisiana companies to take on more business and help depopulate the state’s insurer of last resort, Lousiana Citizens.
How to reduce the cost of homeowners insurance
Homeowners insurance is a good way to shield your finances from sudden misfortune, in many cases, but it can have a large impact on your budget. Thankfully, there are ways to save on your homeowners insurance premium, which could help you get the valuable protection you need at a price that works with your wallet. If you need to lower your home insurance bill, consider taking the following steps:
- Bundle your auto and home policies: Many insurance carriers also offer auto insurance. If you buy your homeowners insurance coverage with the same company that handles your auto policy, you could save on your premiums.
- Compare home insurance quotes: Shopping around and reviewing homeowners insurance quotes from three or more companies could help you find the coverage you need at the most competitive price.
- Ask for discounts: In addition to bundling discounts, many companies offer other ways to save, including claims-free discounts, home alarm system discounts and loyalty discounts. If you’re not sure if you qualify, a company representative may be able to help you identify savings opportunities.
- Choose appropriate home coverage types: Understanding which type of home insurance is right for you, which optional coverage types you need and what policy limits are best for your situation could help you prevent over- or under-insuring your home.
- Improve your credit score: Most states take your credit into consideration when you purchase home insurance. Homeowners with lower credit scores have a higher statistical likelihood of filing claims and, as such, usually pay higher rates. Improving your credit could lower your premium over time.
- Work with an independent agent: Working with any licensed insurance professional can be helpful, but independent insurance agents may have a significant impact on your home insurance cost. Independent agents work with numerous companies, which allows them to provide a single touchpoint for you while taking over the legwork of shopping your account.
- Renovate your home: Some home renovations, like getting a new roof or replacing old, out-of-date electrical or plumbing systems, can help lower your premium. These projects could reduce the risk of home damage, which, in turn, may save you money on insurance.
- Increase your home insurance deductible: Your deductible is the amount of a claim you are willing to pay out of pocket. Most homeowners insurance policies have a minimum $1,000 deductible, although $500 deductibles may be an option with some companies. The higher your deductible, the lower your premium, but the more you’ll pay out of pocket if you file a claim.
Frequently asked questions
Methodology
Base profile
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
- Coverage A, Dwelling: $350,000, $450,000
- Coverage B, Other Structures: $35,000, $45,000
- Coverage C, Personal Property: $175,000, $225,000
- Coverage D, Loss of Use: $70,000, $90,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
Bankrate Scores
- Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best and the NAIC, were analyzed.
- Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
- Tier 3 (Support): To encompass the many ways a home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.