Best Home Insurance in 2024: $23/Mo&Up

The cheapest home insurance starting at $23/mo. Select from 160+ providers.
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Our Top Home Insurance Companies
What is the Best Home Insurance Company?

Cheapest Home Insurance Company for Homeowners
Based on our 2024 rate analysis of the insurance carriers, Auto-Owners has the best cheapest home insurance rates on average out of all national home insurers with a rate of $276 per year for our sample home. Finding affordable, high-quality coverage doesn't mean you have to stick with large companies. Of the smaller insurers, Erie Insurance provides the lowest cost options for homeowners in many states of roughly $228 per year.
We analyzed each company’s average premium, coverages, discounts, policy features and third-party scores to determine which carriers to feature.
Home insurance company 2023 J.D. Power customer satisfaction score AM Best Rating Average annual premium for $250K dwelling coverage
USAA 889/1,000 A++ $992
Auto-Owners 843/1,000 A++ $276
Erie 839/1,000 A+ $228
AAA 820/1,000 A- $1,263
Amica 853/1,000 A+ $2,644
Allstate 829/1,000 A+ $1,458
Disclaimer: Based on your home’s age and condition, deductibles, home security, and personal profile, you may pay over or under this rate. Get a quote today to check your rate.
The Best Home Insurance Companies
Below are our recommendations of insurers for homeowners looking for the best home insurance company with specific type of experience or service.
Type Best Company
Policy Bundling StateFarm
Optional Coverage Allstate
Active Military Members & Veterans USAA
Customer Service Nationwide
Low Insurance Cost Erie
Fun fact: homeowners that bundle auto and home insurance usually stay with the same insurance provider for an average of five years.
What Do Homeowners Insurance Policies Cover?

Type of Coverages for Homeowners
Standard home insurance typically covers these four basic coverages:
Dwelling coverage Dwelling protection is basic coverage required under a home insurance coverage policy that helps cover the property’s replacement cost. Dwelling coverage also cover other property structures that are attached to the house, such as garage, deck, etc.
Liability coverage: Liability covers you against lawsuits for bodily injury or property damage to other people that is caused by you, family members, and even pets. The coverage also pays for both the cost of defending you in court and any court awards—up to the limit stated in your policy documents.
Personal property coverage: Your furniture, clothes, electronics and other personal items are covered if they are stolen or destroyed by fire, hurricane or other insured disasters. The coverage is generally 50 to 70 percent of the insurance you have on the structure of the house.
Additional living expense: This covers to pay the additional costs of living away from home temporarily due to damage from an insured disaster. It would cover things like hotel/rental stays, meals, transportation, and other costs while your home is being rebuilt.
In addition to these basic coverages, each insurance policy covers certain “perils” you’re protected against. According to the Insurance Information Institute, some of the most common perils covered by standard homeowners policies include:
  • Damage from an aircraft, car, or vehicle
  • Explosions
  • Falling objects
  • Fire and smoke
  • Lightning strikes
  • Riots or civil commotion
  • Theft
  • Vandalism and malicious mischief
  • Volcanic eruptions
  • Water damage (from within the home only)
  • Weight of ice, snow, and sleet
  • Windstorms and hail*
* Keep in mind that depending on where you live, weather-related perils are excluded from base coverage
While standard policies cover many different perils, they don’t cover everything. Not all natural disaster is covered by your homeowner insurance policy such as Flood, Earthquake, Hurricane. Other perils that are not commonly covered are Maintenance Damage (mold, termites, pests, foundation, lack of maintenance) and Sewer Backup.
What Are The Different Types of Home Insurance Policy Forms?
Homeowners insurance policies are standardized to what’s known as a policy form that offers different level coverage. The policy form you need depends on the structure of your property and the level of coverage needed. The commonly used coverage package, the HO-3, is actually formally named the special policy form.
Here’s a rundown of different homeowners insurance policy forms:
  • HO-1 (basic) - Very limited policy for single-family homes, only providing coverage for the home structure and attached structures. Excludes personal property and liability coverage, thus not available in most states.
  • HO-2 (broad) - Covers your home, personal belongings, and occasionally liability against additional perils from HO-1.
  • HO-3 (special) - The most common type of homeowner insurance. Covers your home, personal property, liability, additional living expenses and medical payments against all 16 named perils unless explicitly excluded.
  • HO-4 (renters) - aka renters insurance. Covers personal property, liability, and sometimes additional living expenses against 16 named perils. Excludes building's structure coverage.
  • HO-5 (comprehensive) - The most comprehensive, it covers your home, personal belongings, liability, additional living expenses and medical payments. These policies have higher available limits for items like jewelry against 16 named perils.
  • HO-6 (condo) - Coverage for condo owners, known as “walls-in” coverage. Covers everything inside your unit, personal liability, and additional living expenses against 16 named perils.
  • HO-7 (mobile home) – The HO-3 policy designed for mobile or manufactured homes.
  • HO-8 (older home) - For homes that don’t meet insurer standards for other policies, covers only 10 perils. Reimbursement for damage is based on the depreciated property value.
How Much Homeowners Insurance Do You Need?

How To Calculate How Much Home Insurance You Need?
According from CoreLogic housing data report, 60% of Americans homes are underinsured by an average of 20%. While coverage may be optional, leaving your home under-insured will be risky in case of any disaster. Basically, you want enough homeowners insurance to:
  • Rebuild your home (dwelling coverage)
  • Replace your stuff (personal property)
  • Cover injuries and damages that happen on your property (liability)
  • Reimburse your living expenses after the loss of an insured home (additional living expenses)
So how much is enough? Here’s the guideline to help determine the coverage and amounts you need:
  • Dwelling coverage - equal to your home’s replacement cost. Dwelling coverage is your rebuilding costs, not your home’s value. Quick estimation for dwelling coverage cost is to take square footage of your home and multiply it by local construction costs.
  • Personal property - enough to replace your belonging. Good question to ask yourself is: If I lost everything, how much would I need to get back on my feet?
  • Liability - as much as you can afford. Most homeowners insurance policies have a minimum of $100,000 in liability coverage. Common liability claims are dog bites, home accidents, falling trees, intoxicated guests, and injured domestic workers.
  • Additional living expense - 10 to 30 percent of your dwelling coverage. It’s an emergency fund for the added costs of living when you and your family are left without a home after a disaster.
How To Find The Best Home Insurance Company For You?
Ultimately, the best home insurance for you will combine a variety of factors.
  • A company that balances customer service and price, making it the best value for your situation.
  • A company that has all the coverages you want: basic coverages you need and maybe even some unique coverages to fit your situation.
  • A company that is not necessarily a major name. Many of the best insurers for you might may only operate locally.
  • A company that is financially stable, ensuring you won't have to worry about whether claims are paid due to financial issues at the company.
How Much is Home Insurance?

Best & Cheapest Home Insurance for 2024
Based on our 2024 rate analysis, the cheapest Home insurance costs $276 a year or $23 per month. That’s $1036 below the nationwide average.
Our sample home coverage is based on basic HO-3 homeowner package policy data for measuring home insurance policy costs across every ZIP code in America from popular nationwide insurers. Our analysis of homeowners insurance rates determined on average the lowest rate and coverage provider.
Disclaimer: Based on your home’s age and condition, deductibles, home security, and personal profile, you may pay over or under this rate. Get a quote today to check your rate.
Home Insurance Rates for Varied Coverage, Deductibles, and Liability
The three top factors to consider when choosing home insurance to protect your home are coverage, deductibles, and liability. These factors will vary depending on your specific needs. We’ve compiled the data, here’s what you need to know.
Different Home insurance rates based by policy types:
Policy Type Average Annual Cost
HO-1 (Basic) $1,657/year
HO-2 (Broad) $1,144/year
HO-3 (Special) $1,211/year
HO-4 (Renter) $180/year
HO-5 (Comprehensive) $1,292/year
HO-6 (Condo) $989/year
HO-7 (Mobile Home) $650/year
HO-8 (Older Home) $1,211/year
Dwelling coverage is required under a home insurance coverage policy, it covers your property’s replacement cost. Based on our research on how much dwelling coverage is needed, homeowners can find the average rate below.
Dwelling Coverage Range Average Annual Cost
Under $50,000 $633/year
$50,000–$74,999 $745/year
$75,000–$99,999 $814/year
$100,000–$124,999 $870/year
$125,000–$149,999 $918/year
$150,000–$174,999 $960/year
$175,000–$199,999 $997/year
$200,000–$299,999 $1,092/year
$300,000–$399,999 $1,252/year
$400,000–$499,999 $1,467/year
$500,000 and Above $2,149/year
If you combine dwelling coverage with liability coverage, which covers you against lawsuits for injury or property damage, you’ll find yourself paying a higher annual cost. Based on our research with $1,000 deductibles, policy holders can find the average rates below.
Dwelling Coverage Liability Average Annual Cost
$200,000 $100,000 $1,806/year
$200,000 $300,000 $1,824/year
$300,000 $100,000 $2,285/year
$300,000 $300,000 $2,305/year
$400,000 $100,000 $2,694/year
$400,000 $300,000 $2,709/year
$500,000 $100,000 $3,046/year
$500,000 $300,000 $3,056/year
$600,000 $100,000 $3,304/year
$600,000 $300,000 $3,323/year
Prices vary depending on how much coverage homeowners chooses when insuring a home. Under-insuring your home’s value can leave you exposed if the worst happens, so make sure you are fully covered!
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InsureBetter.net’s mission is to empower Americans with information they can trust. Our goal is to be a reliable source of educational content regarding home insurance prices. In addition, we provide details on requirement policies, coverage, and rates from 160+ top insurance companies.
The foundation behind our purpose is the deeply disturbing fact that Americans are overpaying for coverage they don’t need and severely underinsured, leaving their home vulnerable in case of a disaster. This is ridiculous. This needs to change. This is why we created
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Data & Rate Estimate Methodology
For our sample home profile, InsureBetter.net used home insurance quotes from an average of 15 top insurers in each state for single male and female homeowners with home age 25 years, clean claim history, good credit, and the following coverage limits:
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
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
For minimum coverage estimates, we used the minimum insurance required by each state. These are sample rates and should be used for comparative purposes only. Get a quote today to check your personalized rate.
Juniper Davis is the home and renters insurance expert for InsureBetter.net. With 15 years of experience as a writer, she specializes in insurance for consumers and aims to provide knowledge for Americans and help them make smart financial choices. Juniper is a Boston born and has B.A. in Economics from Pacific Lutheran University in 2005. Outside of writing, she enjoys spending time with her two dogs, hiking, and yoga.