Compare Cheap Home Insurance (2024)

State Farm has the cheapest homeowners insurance for most people, at $1,363 per year.

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Cheapest homeowners insurance companies

Cheap home insurance companies

State Farm and Erie have the best home insurance quotes.

State Farm costs $1,363 per year and is available in most states. Erie is even cheaper at $1,244 per year. But, Erie is only available in 12 states and Washington, D.C.

Companies with cheap house insurance

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Cheapest home insurance quotes

Annual rate
Erie logo
State Farm logo
State Farm
Allstate logo
Nationwide logo
Farmers logo
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*USAA is only available to military members, veterans and their families.

The cheapest house insurance companies are based on quotes from all ZIP codes in the country using the typical home value in each state. Ratings of the top companies consider customer service, claims satisfaction, cost and availability. See the full methodology.

Cheapest quotes for most homeowners: State Farm

  • Editor rating

  • Annual rate

    $1,363 ?
  • Monthly rate

    $114 ?
  • J.D. Power

    6th out of 22 ?
  • AM Best

    A++ ?

Why it's great

State Farm has the best home insurance rates compared to other major companies, along with dependable customer service.

State Farm offers inexpensive home insurance, a great bundling discount and reliable customer service.

Homeowners insurance from State Farm costs $1,363 per year. That's 10% cheaper than the national average.

State Farm is an excellent choice if you're looking to bundle your home and car insurance. It has very affordable car insurance rates, and you can save around 24% when you bundle home and auto policies with State Farm.

Homeowners can depend on State Farm to help fix their homes quickly after an accident. The company earned an above-average score on J.D. Power's home insurance survey. That means its customers are satisfied with the service they get at State Farm.

State Farm also gets 65% fewer customer complaints than an average insurance company its size, according to the National Association of Insurance Commissioners (NAIC).

Cheapest regional home insurance company: Erie

Erie offers low-cost home insurance and excellent service if you live in one of the 12 states or Washington, D.C., where it sells home insurance.

A home insurance policy with Erie costs $1,244 per year or $104 per month. That's 18% cheaper than the national average.

Erie has a reputation for great customer service. It ranked second in J.D. Power's customer satisfaction survey. And, it gets only 14% of the complaints an average company its size gets, according to the NAIC. That means homeowners can count on Erie to get their lives back to normal quickly in an emergency.

Best homeowner insurance rates for people who need extra coverage: Nationwide

  • Editor rating

  • Annual rate

    $1,390 ?
  • Monthly rate

    $116 ?
  • J.D. Power

    9th out of 22 ?
  • AM Best

    A ?

Why it's great

Nationwide offers lots of ways for you to customize your home insurance coverage.

Nationwide has affordable home insurance quotes and lots of coverage add-ons.

Home insurance from Nationwide costs $1,390 per year, which is 8% cheaper than the national average.

Nationwide also offers homeowners a number of discounts to help make their insurance more affordable. For example, you can save if you've renovated certain parts of your home, or if you haven't made a home insurance claim.

Nationwide offers a range of optional coverage add-ons to customize your home insurance coverage, including:

However, you may be able to find better customer service elsewhere. Nationwide has a below-average score on J.D. Power's customer satisfaction survey. That indicates that customers aren't thrilled with the service at Nationwide. On the other hand, it gets fewer complaints than its competitors, according to the NAIC.

Affordable homeowners insurance for military members: USAA

  • Editor rating

  • Annual rate

    $1,518 ?
  • Monthly rate

    $127 ?
  • J.D. Power

    1st out of 22 ?
  • AM Best

    A++ ?

Why it's great

USAA has cheap home insurance quotes and great service for military members and veterans.

USAA is the best and most affordable homeowners insurance option for homeowners with ties to the military.

However, only veterans, active service members and their families can buy USAA insurance.

Home insurance from USAA is typically very affordable, at $1,518 per year. That's only $2 per year more than the national average. You may be able to get your rates down by asking about USAA's home insurance discounts, which include:

  • Bundling discount of up to 10% savings when you also buy car insurance from USAA
  • Protective device credit of up to 5% when you install a monitored fire alarm or home security system
  • Claims-free discount of up to 15% for customers who make no home insurance claims for five or more years

USAA isn't the cheapest option for homeowners insurance. But, its great customer service may be worth the extra cost. USAA consistently earns the top score on J.D. Power's customer satisfaction survey. In addition, it gets 70% fewer complaints than its competitors, according to the NAIC.

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Cheapest home insurance rates by state

Home insurance rates vary widely from one state to the next. This is because of factors like weather, population density and crime rates. For that reason, the cheapest company nationally may not have the most affordable home insurance near you.

Although State Farm has the lowest rates nationally, it's only the cheapest company in four states.

Allstate has the cheapest rates in five states, the most of any other insurance company. Smaller regional companies, like Erie and Vermont Mutual, are the most affordable option for homeowners in 20 states.

Cheap homeowners insurance near you

State avg.
Cheapest rate
Alaska$1,307Country Financial$948
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Homeowners in Michigan can take advantage of the lowest home insurance rate in the country, from Auto-Owners — $249 per year. On the other hand, if you're in Illinois, you'll pay the highest rates. State Farm offers the cheapest insurance in the state for $953 per year.

How to compare quotes and get cheaper home insurance

Comparing quotes is the best way to find cheaper homeowners insurance. You can shop for insurance quotes online or speak with an agent over the phone.

Homeowners insurance rates may vary depending on a number of factors. These can include where you live, the value of your house and the amount of coverage you get. You should follow these steps as you compare quotes from insurance companies near you:


Gather your personal info. This includes details about your house, your belongings and your insurance history. Tracking down info about your home and taking inventory of your stuff can take time. So, give yourself enough lead time to get this.


Figure out how much coverage you need. Your coverage needs can change from year to year. This is particularly true if you've done home renovations or bought expensive personal items like jewelry or fine art.

You should get dwelling coverage limits that match the replacement cost value (RCV) of your house and belongings rather than the actual cash value (ACV). Your quotes will be more expensive, but you'll spend much less on repairs if your home is damaged in a covered event, like a fire.


Compare quotes from multiple companies. You should get quotes from at least three companies, if not more, before purchasing a policy. Quotes can vary by thousands of dollars per year. Comparing rates is the best way to ensure you're paying the best rate.

Make sure you get quotes for the same coverage limits so your comparison is accurate. You don't want to pay for a policy that seems like a great deal, only to later discover that you don't have enough coverage when you file a claim.

How to get cheap homeowners insurance rates

The average cost of homeowners insurance is $1,516 per year. But, there are a number of ways you can find more affordable house insurance rates.

Comparing rates from multiple companies and asking each one about discounts increases your chance of finding a good deal.

You can also raise your deductible to get a lower monthly payment. Just make sure that you choose an amount you can afford to pay if your home is damaged.

If you're willing to make a long-term investment in your home, consider updating your roof with impact-resistant materials. You can also install smart alarm technology that can help prevent a burglary or fire. Many companies will offer you a discount if you make these improvements. That's because they make it less likely you'll need to make a claim.

Frequently asked questions

Who has the cheapest homeowner insurance?

State Farm is the cheapest major home insurance company, at $1,363 per year, or $114 per month on average.

However, the most affordable company near you may be different. Smaller regional companies — like Erie, Vermont Mutual and Shelter — tend to have cheaper homeowners insurance rates than large national companies.

How can I lower my homeowners insurance rates?

To find the cheapest homeowners insurance rates, you should start by comparing quotes from multiple companies.

Next, make sure you're getting as many discounts as possible. Many companies offer discounts for installing a security system or renovating your home.

Lastly, you can consider lowering your coverage or raising your deductible. But either of these options will leave you paying more for repairs if your house is damaged.


To find the cheapest homeowners insurance companies, ValuePenguin collected quotes for every ZIP code in the United States, from the largest companies in every state.

Dwelling coverage amounts are based on the median home age and value for each state. For example, California quotes are for a home built in 1975 with $505,000 of dwelling coverage. West Virginia quotes are for a home built in 1974 with $119,500 of dwelling coverage. We used median home values to determine the rebuild cost in each state.

ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurance company filings and should be used for comparative purposes only. Your own quotes will be different.

Editorial Note: The content of this article is based on the author's opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.