Homeownership is already expensive, so why pay more than you need to for your homeowners insurance? Don’t settle for an expensive rate; cheap homeowners insurance can include great coverage too.
NerdWallet analyzed pricing data from 145 insurance companies to find relatively cheap home insurance in every state, as well as the country’s largest cities. The rates below are based on a homeowners insurance policy for a 40-year-old homeowner with a $1,000 deductible, $300,000 in dwelling coverage and $300,000 in liability coverage, but your rates will differ.
Cheap homeowners insurance from top-rated companies
NerdWallet looked at average rates from some of our top-rated insurance companies to find out which ones have the most affordable homeowners insurance premiums.
Use the table below to see average annual and monthly rates, along with our star rating.
|Company||NerdWallet rating for homeowners insurance||Average annual rate||Average monthly rate|
|State Farm||5.0NerdWallet rating||$1,596||$133|
|*USAA is available only to military, veterans and their families.|
» MORE: What is the average cost of homeowners insurance?
Cheap home insurance in each state
Where you live typically has a big impact on the cost of insurance for your house and possessions. How close you live to the coast, crime rates in your area, population density and more can all influence your rate. Use the map below to see the lowest cost home insurance in each state and its average annual rate.
Below are the most affordable homeowners insurance companies for each state, along with average annual and monthly rates. USAA was the cheapest home insurance provider in some states but was excluded from the list since its products and services are available only to those in the military, veterans and their families.
|State||Cheapest company on average||Average annual rate||Average monthly rate|
|Arkansas||Arkansas Farm Bureau||$2,036||$170|
|Idaho||Grange Insurance Association||$721||$60|
|Missouri||Auto Club of SoCal||$1,417||$118|
|Nebraska||Farmers Mutual of Nebraska||$2,281||$190|
|New Mexico||State Farm||$1,343||$112|
|New York||New York Central Mutual||$638||$53|
|North Dakota||Farmers Union||$1,317||$110|
|Oregon||Mutual of Enumclaw||$545||$45|
|Rhode Island||State Farm||$557||$46|
|South Carolina||Bankers Insurance||$1,017||$85|
|South Dakota||Farmers Mutual of Nebraska||$1,672||$139|
» MORE: The best homeowners insurance companies for 2021
Cheap homeowners insurance in the largest U.S. cities
Cheap homeowners insurance isn’t necessarily going to come from the same company in Boston as it will in Chicago, so we looked at the top 20 metropolitan areas in the country to find the lowest homeowners insurance premium in each city, on average.
Use the table below to find the cheapest home insurance in your city, along with average annual and monthly rates.
|City||Company||Average annual rate||Average monthly rate|
|Miami-Ft. Lauderdale||Security First||$804||$67|
|New York City||New York Central Mutual||$844||$70|
|St. Louis||Auto Club of SoCal||$1,258||$105|
|Tampa-St. Petersburg||Security First||$602||$50|
How to get cheap homeowners insurance
Some take a little more effort than others, but there are a variety of ways to get cheap insurance for your house and possessions. Below are some of the most common ways to save on home insurance.
Shop around. Don’t buy the first policy you get a quote for — compare rates from multiple companies in your area to find an affordable policy from a reputable company. Our guide to the best homeowners insurance companies can get you started.
Insure your home for the proper amount. Don’t insure your home based on its current market value (that is, how much the home could sell for) — you should actually insure it based on how much it would cost to rebuild your home in the event of a claim. Have your home insurance agent or company estimate your home’s replacement cost so you can insure your house for the correct amount.
» MORE: How to save on homeowners insurance
Bundle your policies. Many carriers offer a discount if you bundle home and auto insurance together to make both policies more affordable.
Increase your deductible. You can lower your premium by choosing a higher deductible, but make sure you have enough cash to cover it should you need to file a claim.
Avoid filing small claims. Most home insurance companies offer a discount for customers who haven’t filed a claim in the last three to five years. If you can, pay cash for home repairs and file a claim only when absolutely necessary to avoid rate hikes.
Avoid risky purchases. Anything considered a high risk for a liability claim, including trampolines and aggressive dog breeds, could raise the cost of your homeowners insurance. So think twice about adding that swimming pool if you want cheap coverage.
» MORE: Does homeowners insurance cover dog bites?
Add safety features to your home. Making your home safer now may save you money on home insurance in the long run. Many insurance companies offer discounts for features that protect your home against fire and theft. Fire extinguishers, deadbolts, security systems and more could all help keep costs low.
Improve your credit. Poor credit generally translates to high insurance costs, including for homeowners insurance. While not an overnight fix, you can rebuild credit by making payments on time and using less than 10% of your total credit card limits, if possible.
» MORE: What to know about a credit-based insurance score