In this article we have compiled a list of the best homeowners insurance companies in Delaware based on highest market share, financial strength, policy offerings, discounts, and premiums.
Our top picks include Allstate, American Family, Progressive, State Farm and USAA, all of which ranked highly in the 2019 J.D. Power Home Insurance Study and have sound credit and customer ratings.
The 5 Best Homeowners Insurance Companies in Delaware
|State Farm||Allstate||Progressive||American Family||USAA|
|Our review||Our review||Our review||Our review||Our review|
|A.M. Best Financial Strength Rating||A++||A+||A+||A||A++|
|J.D. Power Overall Customer Satisfaction Score||4/5||3/5||3/5||3/5||5/5|
|Online Quote Tool||✓||✓||✓||X||✓|
|Compare rates||Compare rates||Compare rates||Compare rates||Compare rates|
Average Cost of Homeowners Insurance in Delaware
Based on Quadrant’s data for premium averages, Delaware residents pay an average annual homeowners premium of between $500 and $600, about 50% or more lower than the national average of $1,228. However, insurers determine your insurance rate based on many factors, including the age of the home, its construction and its age. You may also qualify for discounts to reduce your rate. Because of these factors and others, your actual premium cost may vary from averages listed here.
Home Insurance add-ons that will further protect you
Besides standard dwelling, liability, loss of use, medical payments and other structures coverages, you may also want to consider optional coverages to maximize your protection.
- Additional personal property coverage to pay for expensive items such as artwork, jewelry, musical instruments and sports equipment.
- Business property coverage helps cover items such as laptops, monitors and printers. Although your standard homeowners policy may offer limited coverage for these items, if you operate a home office, you might need added protection.
- Earthquake insurance to pay for damages caused by earthquakes. Most standard homeowners policies don’t cover damages caused by earthquakes.
- Electronic data recovery to pay costs associated with calamities such as hard drive crashes.
- Flood insurance if you live in an area prone to flooding. Typically, standard policies don’t cover flood damages.
- Garden and yard coverage to pay for landscaping damages such as downed trees and lawn equipment.
- Identity theft protection can help pay legal fees and lost wages if you fall victim to identity theft.
- Replacement cost coverage to rebuild your home at current market cost. Most standard policies will only pay the actual cash value of your home, leaving you holding the bag if you need to rebuild.
- Scheduled personal property coverage to repair or replace items for which you’ve received an appraisal, like wedding rings or family heirlooms.
- Water backup coverage to pay the cost of repair caused by a backed-up drain or sump pump.
Helpful Resources for Delaware Homeowners
To start a broad search, review the highest ranking providers in J.D. Power’s 2019 U.S. Home Insurance Study.
Most major insurance companies offer an online quote tool on their websites which can also provide perspective on different premium options.
When reviewing your quotes, pay attention to the details. Compare standard coverages and personal property limits.
Agents will be your best resource to determine discounts for which you may qualify, as well as addon coverages you may need, like flood insurance or additional personal property coverage for expensive items.
Before signing an insurance contract, always make sure the insurer you choose has a valid license in Delaware. You can check an insurer’s license using the company lookup tool at the National Association of Insurance Commissioners’ (NAIC) website.
Here are a few resources to use to learn more about homeowners insurance for your Delaware home:
- Delaware Department of Insurance
- Delaware Department of Insurance – The Instant Insurance Guide: Home
- State of Delaware Insurance Code: Chapter 41. Property Insurance Contracts
- Insurance Placement Facility of Delaware: Fair Plan
- FEMA: National Flood Insurance Program
- Insurance Information Institute: Homeowners + Renters Insurance
- National Association of Insurance Commissioners: A Consumer’s Guide to Home Insurance
To determine the best homeowners insurance companies in Delaware, we reviewed 2018 insurance company rankings provided by the Insurance Information Institute and NAIC. Although we focused on insurers with the highest market share in Delaware, we also pared down our list using other factors.
Homeowners need an insurance provider that can pay its claims obligations, so we evaluated each company’s financial strength. All the insurers we chose have an “A” or higher credit rating with AM Best, a globally recognized leader in the insurance credit rating industry.
We also considered the level of customer support each company offers its policyholders. All our top picks have A+ Better Business Bureau ratings, except USAA, which the BBB has not rated.
Best Delaware Homeowners Insurance Companies
- Local agents
- Purchase policy online
- Few homeowners discounts
Numerous local offices and agents available to handle your insurance concerns are one of the standout features of State Farm. Additionally, the provider’s online resources and quote process ensure you have an accurate idea of premium costs and coverage options. On the flip side, State Farm’s discounts are a bit more limited compared to some of our other top providers.
- Claims process
- Allstate Identity Protection
- Senior and retiree discounts
- Credit-based insurance scoring
Allstate lands a spot among our top picks for its tech-forward approach to insurance. You can file a claim by calling the company’s claims center, contacting your local agent, or using the Allstate mobile app. Allstate’s Identity Protection is another great perk that takes the digital realm into account for your protection. Numerous discounts are also an attractive feature.
The only significant detractor is that Allstate uses your credit score as a factor when determining your premium. Because statistically people with poor credit tend to file more insurance claims, you may be charged a higher premium if your credit score is also low.
- HomeQuote Explorer tool
- Personal injury coverage
- Single deductible option
- Claims process
- Limited optional coverages
Progressive represents its name well, offering an innovative HomeQuote Explorer tool that allows you to compare rates with other providers in Progressive’s network. In addition, the optional personal injury coverage and a single deductible for bundling home and auto make Progressive a standout choice.
Potential drawbacks include possible claim confusion due to the in-network provider setup, and optional coverages are limited to just personal injury and water backup coverages.
- Coverage packages
- Credit theft protection
- Smart home discount
- No online quotes
Another of our top choices for Delaware homeowners is American Family. Defining features include three homeowners insurance packages for customized levels of coverage, credit theft protection, and discounts for smart home devices such as the Ring video doorbell, climate control systems, and water detectors.
The only negative aspect of American Family is the lack of ability to obtain a quote online.
- Replacement cost coverage
- Home sharing coverage
- Earthquake coverage
- Limited membership
Legendary among insurance providers, USAA is an excellent choice for eligible homeowners.
Although limited to military members and their family, USAA offers top choice features such as replacement cost coverage, home sharing coverage for those who need to rent out their homes during deployment, and earthquake coverage included in standard premiums.
The Cheapest Homeowner Insurance Companies in Delaware
Based on our research, the cheapest homeowners insurance companies in Delaware include:
|Homeowner Insurance Companies||Average Annual Premium|
|Cumberland Mutual Fire Insurance Company||$392|
|Average Across Credit Rating Tiers||$516|
Homeowner Insurance by Age of Home
The cost of homeowners insurance can depend on your home’s age. Typically, newly constructed homes cost less to insure than older homes.
|Age of Home Tier||Average Annual Premium|
|Average Across Home Tiers||$604|
Quadrant home insurance rate data as of 3/29/2020.
These rates are a sample set meant only for general comparison. Your own premium will vary. Learn how we tested rates for the cheapest home insurance companies in our methodology.
Top 3 Cheapest Homeowner Insurance Companies in Delaware
- Cumberland Mutual Fire Insurance Company – $392
- Nationwide – $398
- Travelers – $482
Top 2 Most Expensive Homeowner Insurance Companies in Delaware
- State Farm – $701
- Encompass – $609
These prices are based on a profile and do not reflect the actual rate you will receive. Insurers set rates based on several factors, including:
- Your age
- The age of your home
- Your home’s construction
- The location of your home
- Your home’s proximity to a fire station
- Your home’s proximity to a fire hydrant
- Home features such as fireplaces and swimming pools
For the most accurate rates, request quotes from several insurance companies.
Homeowners Insurance FAQ
Is homeowners insurance required in Delaware?
The State of Delaware doesn’t require you to carry homeowners insurance. However, if you finance a home, your lender will require you to purchase a home insurance policy.
What is the cheapest homeowners insurance in Delaware?
Based on our research, Delaware insurers offering the lowest average annual home insurance rates include Cumberland Mutual Fire Insurance Company, Nationwide, and Travelers.