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Homeowners insurance quotes: what to know

Homeowners insurance is a policy that protects you and your home in the event of a variety of circumstances. Below you'll find practical information to help you compare homeowners insurance quotes and get the best policy for your needs.

Key Takeaways

  • Homeowners insurance covers much more than your home itself
  • Comparing quotes is the best way to find the right policy
  • It is not required by law to have homeowners insurance but those with a mortgage must enroll in a policy
  • Rates vary by individual factors, but homeowners insurance premiums can cost in excess of $2,000 per year

How to shop for homeowners insurance

Our first recommendation is to get homeowners insurance quotes. Only by comparing rates from as many companies as possible can you ensure you get the best coverage at the cheapest price.

We first recommend shopping with the company with which you insure your car. Keep in mind, this company won't always be your cheapest option.

Information needed to get an accurate homeowners quote is as follows:

  • Number of full-time residents in the home
  • Is the home your primary, seasonal or secondary residence?
  • Year built
  • Square footage
  • Number of stories and bathrooms 
  • Presence of detached structures like a shed or garage
  • Roof and exterior wall materials
  • Presence of wood stoves or fireplaces
  • Pet information
  • History of home insurance claims
  • Renovations or updates
homeowners quote

Compare home insurance quotes to find the best coverage and rates!

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How to compare quotes

Getting numerous quotes allows you to compare both the cost and the coverage being offered by homeowners insurance companies. Remember that the cheapest quote may not be the best. Making sure that your most valuable asset is fully protected is crucial when comparing policy options.

Have a look at our rundown below to see the best process for comparing the quotes that you receive.

What is a home insurance quote?

A homeowners quote is an estimate of what you can expect to pay for home insurance coverage. Quotes take many factors into account, including your home's location and age as well as personal factors such as your claims history.

1. Choose how to get quotes

The first step is to get the quotes themselves. You have a few options for this, including visiting a local home insurance agent, contacting an insurer directly online or over the phone, or going through an online marketplace such as The Zebra. The great thing about using a quotes comparison site like The Zebra is that you get the chance to compare homeowners insurance quotes side-by-side from multiple companies at once, saving you time and — very likely — money.

 

2. Compare cost

The cost is probably the first thing that will grab your attention. While it's important to fit your homeowners insurance into your budget, remember that the cheapest policy isn't necessarily the best one. If a quote is exceedingly low, make sure that it actually provides the coverage that you need. 

 

3. Compare coverage

One of the most important parts of shopping for home insurance is finding a policy that fully covers you, your home and your belongings. This includes both coverage types as well as your coverage limits. Learn more about how much coverage you need.

 

4. Compare deductibles

A big contributor to how much you pay per month on your homeowners coverage is the cost of your deductible. A lower deductible often means higher monthly payments. Just be careful not to set your deductible so high that you may struggle to meet it should you need to file a homeowners claim. Also, make sure to consider whether there are separate deductibles for perils such as hurricanes or windstorms. 

 

5. Compare companies

The reputation of your home insurance carrier should be considered when choosing a policy. It's important to go with a trusted insurance company that is responsive and able to resolve claims in a positive and timely manner. Find more information in our guide to the best homeowners insurance companies.


Quote comparison example

To give you a better idea of what this process looks like, we've put together a shopping scenario. 

In this scenario, the shopper has just bought their first home. Money is tight, as the down payment required nearly all of their savings. Therefore, price is a major consideration for this shopper. The two following quotes are based on average data. You can read more about how we source our data in our methodology.

House with a purple roof
Quote one: $2,263/year
  • Deductible - $1,000
  • Dwelling - $300k
  • Personal liability - $100k
  • Personal property - $100k
  • Medpay - $1,000
House with purple roof
Quote two: $2,191/year
  • Deductible - $500
  • Dwelling - $300k
  • Personal liability - $300k
  • Personal property - $100k
  • Medpay - $1,000

 

Which quote should they choose?

While both quotes are similar in price, quote #2 offers much better coverage for less money. Personal liability coverage is much higher, which is especially important if you have valuable assets to protect. Quote #2 also has a $500 deductible instead of the $1,000 deductible for quote #1. This means that you are only responsible for $500 in the event of a claim. 

Also, remember that the initial quote you receive may not match the final premium, as the underwriters have to take many other factors into consideration before locking in your rate.

While both quotes are similar in price, quote #2 offers much better coverage for less money.


What home insurance covers

A homeowners insurance policy is typically broken down into six parts:

  • Coverage A - Dwelling: A house and any attached structures, such as a garage.
  • Coverage B - Other structures: Any stand-alone structures — like a carport or tool shed — not attached to the home. 
  • Coverage C - Personal property: This covers the repair or replacement of belongings or property stolen or damaged in a covered loss anywhere in the world.
  • Coverage D - Additional living expenses: Sometimes called a loss-of-use clause, this helps to cover the cost of temporary relocation in the event the home is unliveable due to repair work.
  • Coverage E - Personal liability: This covers the costs of another party's injuries on the insured party's property (or offsite) as well as claims against an insured for property damage.
  • Coverage F - Medical payments: Covers medical costs incurred on the property by those not listed as residents of the household, regardless of fault.
COMMON LIMITS PER COVERAGE TYPE
Coverage Type Typical Limit of Coverage
Dwelling Varies
Other structures 10% of Dwelling Coverage
Personal Property 50% of Dwelling Coverage Limit
Loss of Use 20% of Dwelling Coverage Limit
Medical Payments Varies
Personal Liability Varies

Common homeowners insurance policy types: HO-2, HO-3, HO-5

The kind of coverage you will have with a home insurance policy will depend on the type of policy. There are two main ways you can have coverage in your homeowner's insurance: open and named peril. A peril is an action that causes damage to you, your home or your belongings. Below are the definitions for the two.

star in a blue circle
Named peril

All the hazards and threats to your property that will be covered will be explicitly listed on your policy.

star in a blue circle
Open peril

All the hazards that are not covered will be listed. This is a much broader form of coverage.

What does a named-peril HO-2 policy cover?

An HO-2 policy is a basic form of homeowners insurance. It only covers personal property and insured structures in the event of named perils, including the following:

  • Fire
  • Lightning
  • Theft
  • Vandalism
  • Windstorms and hail
  • Damage caused by vehicles
  • Damage from aircraft
  • Weight of ice, snow and sleet
  • Freezing of household systems
  • Riots
  • Explosions
  • Falling objects
  • Volcanic eruptions
  • Water damage: overflow or discharge
  • Damage from artificially-generated electrical current
  • Sudden tearing, cracking or bulging of home
house with blue roof

The HO-3 policy type is the most common in the U.S., covering a dwelling and other structures on an open-peril home insurance policy and the contents of the property on named peril coverage.

The next tier of home insurance coverage is HO-5. This coverage level includes coverage of both dwellings and personal property on an open-peril basis. Most insurance companies won’t insure against natural disasters like flooding, earthquakes, and landslides, and also occurrences of moldinfestations, wear-and-tear, nuclear hazards or government actions, regardless of homeowners insurance policy type. Depending on where you live, coverage against wildfires may also be restricted.

WHICH COVERAGE TYPES ARE OPEN PERIL?
Name Property Coverage Personal Property Coverage
HO-2 Broad Form Named Perils Named Perils
HO-3 Special Form Open Perils Named Perils
HO-5 Comprehensive Form Open Perils Open Perils

Additional home insurance coverage types

Homeowners insurance may cover some seemingly unexpected things in addition to the above perils. Homeowners insurance follows you even while you're not at home: if you lose your luggage while traveling, your personal property coverage can help replace your lost items.

Home insurance may even cover the belongings of a child away at college — typically only if they reside in on-campus housing — and your parents' belongings if they depend on you while living in a nursing home or assisted living facility.

Other things your homeowners insurance may cover — depending on your policy — include property and liability coverage for tombstones or cemetery plots of loved ones and coverage for trees, plants and shrubs in your garden.


What home insurance does not cover

There are always exclusions in what homeowners insurance will cover: another reason it's important to understand how to read a homeowners insurance policy.

The below perils are commonly excluded are home insurance coverage, but could be amended by adding a policy endorsement.

Whether you have an open peril or named peril policy, damage from the below are never covered by homeowners insurance:

  • Enforcement of building codes and similar laws
  • Earthquakes*
  • Flooding*
  • Power failures
  • Neglect (failure to take reasonable steps to protect your property)
  • War
  • Nuclear hazard
  • Intentional acts

*Insurance options for these natural disasters may be sold separately.

Zebra Tip: Consider a home warranty to cover new appliances and systems


Your home's structure is covered by your insurance, but the normal wear and tear your appliances and home systems go through isn't. For these items to be covered, you'll need to consider a home warranty. Home warranties cover items such as refrigerators, ovens and HVAC systems. Learn more with our comprehensive home warranty guide.


The average cost of homeowners insurance

We surveyed thousands of home insurance rates to gather a comprehensive guide to homeowners insurance costs.

These rates may provide a good example of averages across the U.S. Your homeowners insurance premiums may vary depending on a number of factors, including where you live, the cost of building materials, the square footage of your home and even your credit score.

Average Home Insurance Costs in 2022 by Company
Company Avg. Annual Premium Avg. Monthly Premium
Allstate $1,561 $130
American Family $1,764 $147
Amica Mutual $2,843 $237
Farmers $1,871 $156
Nationwide $1,231 $103
State Farm $1,484 $124
Travelers $2,674 $223
USAA $1,385 $115
Updated: 01/26/23.

Dynamic homeowners insurance data methodology

Methodology: The home insurance rates displayed above and throughout this page are dynamic, meaning the data will refresh when the most recent information is made available.

Rates are based on a sample homeowner profile — a 45-year-old married homeowner living in a 10-year-old, 2,500-square-foot single-story home, with no prior claims and insured at these coverage levels:

  • $200,000 for the dwelling
  • $100,000 for personal property
  • $100,000 for personal liability
  • $1,000 deductible

This profile was adjusted based on common pricing factors used by major homeowners insurance companies, like the age of the home, coverage levels and others.

Average Homeowners Insurance Rates by State
State Avg. Annual Premium Avg. Monthly Premium
Alabama $2,078 $173
Alaska $1,182 $98
Arizona $1,380 $115
Arkansas $2,690 $224
California $1,033 $86
Colorado $2,122 $177
Connecticut $1,135 $95
Delaware $660 $55
Florida $1,690 $141
Georgia $1,566 $130
Hawaii $318 $26
Idaho $990 $83
Illinois $1,632 $136
Indiana $1,431 $119
Iowa $1,597 $133
Kansas $3,121 $260
Kentucky $1,945 $162
Louisiana $2,027 $169
Maine $891 $74
Maryland $1,248 $104
Massachusetts $1,234 $103
Michigan $1,154 $96
Minnesota $1,511 $126
Mississippi $2,379 $198
Missouri $2,095 $175
Montana $2,190 $182
Nebraska $4,367 $364
Nevada $749 $62
New Hampshire $717 $60
New Jersey $739 $62
New Mexico $1,559 $130
New York $987 $82
North Carolina $1,413 $118
North Dakota $1,900 $158
Ohio $1,090 $91
Oklahoma $3,904 $325
Oregon $808 $67
Pennsylvania $840 $70
Rhode Island $1,092 $91
South Carolina $1,440 $120
South Dakota $2,328 $194
Tennessee $1,808 $151
Texas $2,260 $188
Utah $838 $70
Vermont $684 $57
Virginia $969 $81
Washington $1,053 $88
Washington, D.C. $780 $65
West Virginia $1,256 $105
Wisconsin $870 $73
Wyoming $1,114 $93
Updated: 01/26/23.

Why should I get homeowners insurance?

Surprisingly, homeowners insurance is not required by law. However, if you have a mortgage or are borrowing from a lender, you will likely be required to hold homeowners insurance. More reasons to hold homeowners insurance include:

reason1
Statistics prove that having home insurance is prudent

Houses have a higher possibility of incurring a loss due to a natural disaster or accident than an apartment within a building. Read more about homeowners statistics:

reason2
Home insurance policies cover more than just your house
  • Personal belongings are covered anywhere in the world
  • Trees and plants in your garden
  • Belongings of your child while they are away at college or dependent parents in a nursing home
reason3
Homeowners insurance is an affordable way to protect your assets
  • Comparing homeowners insurance quotes from multiple companies is the best way to find the best value for your next policy
  • Home losses can cost much more out of pocket than a policy premium if you’re not covered. Homeowners insurance certifies that if a loss does occur, you are only responsible to pay the deductible and not the entire price tag.

For homes in high-risk areas, insurance policies are essential. Homeowners insurance protects the house itself, your belongings, your yard and other structures on the property, as well as personal liability, medical payments to others and loss of use coverage. Having a homeowners insurance policy won’t stop a disaster from occurring, but it will provide a financial safety net in case you do experience a loss. Shop around with different companies in order to make sure you have the proper coverage at the best rate.


Make an informed decision: compare insurance rates today.

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How much homeowners insurance do I need?

Your insurance needs will be specific to you, but there are a number of key questions you can answer that will help guide you toward the appropriate coverage levels. Along with determining how much coverage you need, these questions can also help you get a more accurate home insurance estimate when it comes time to shop. Ask yourself the following questions to help determine exactly how much homeowners insurance you will need:

  • What is the rebuild cost of my home, including detached structures (at the current rate for labor and materials)?
  • How much will it cost to replace my personal property and belongings?
  • What is the value of my personal assets in case someone sues me?

The amount you spend on home insurance coverage depends on the replacement cost of your home, which your insurance company will usually help you determine via a home inspection. Remember: replacement cost and market value are not synonymous. Replacement value is how much it would cost an insurance company to rebuild your home, whereas market value depends on the real estate market and other variables. Therefore, your dwelling coverage should only be enough to cover your home's replacement cost, not its market value.

Your dwelling coverage should only be enough to cover your home's replacement cost, not its market value.

Other considerations include the amount of coverage you'll need for your personal property and liability protection. If you own costly items or valuables, conducting a home inventory and taking photos of the contents of each room in your house will come in handy if you ever need to file a claim. It will also serve the purpose of determining whether or not you need additional coverage for certain valuables, like jewelry, firearms and electronics, all of which come with their own sub-limits. 

Coverage limits for these items can be extended with endorsements add-ons, also known as riders or floaters.

Zebra tip: Personal liability limits should be equal to or greater than net worth


When considering the personal liability insurance portion of your homeowners policy, make sure the coverage limit is high enough to protect your assets. A good method of determining how much liability coverage you need is to ensure it's equal to or greater than your net worth. If you're ever sued with a liability claim and your limit is exhausted, you risk facing financial setbacks if you're forced to forfeit your assets.


Deductibles and home insurance

There are some major differences between car insurance deductibles and home insurance deductibles. With home insurance, your deductible is deducted from your claim payout. If your kitchen catches on fire and sustains $5,000 worth of property damages and your deductible is $1,000, you would receive $4,000 and be responsible for covering the remaining amount.

Car and home deductibles are inversely related to the cost of your premium — if you raise your deductible, your monthly costs should decrease.

Percentage versus dollar-based home insurance deductibles

Homeowners insurance deductibles can be dollar- or percentage-based. The above example of a kitchen fire would be considered a dollar-based deductible. For a percentage-based deductible, however, the monetary value is derived from a percentage of your dwelling coverage. For example, if your dwelling is valued at $367,000 and your wind and hail deductible is 1%, your deductible would be $3,670.


Actual cash value vs. replacement cost value

Most insurance companies will reimburse you for personal property claims via the actual cash value (ACV), though a number of companies do offer property coverage at full replacement cost. Replacement cost would give you the amount needed to replace your lost or damaged item for its current market value. ACV is the amount of money it would cost to replace an item, accounting for depreciation. This valuation process is usually handled by an insurance company's claims department, through its claims adjusters.

To ensure you have the most comprehensive home insurance, we recommend insuring your home and contents under a replacement cost coverage plan. For more information, feel free to read our in-depth article further explaining replacement cost and actual cash value.

You can change your policy to reimburse you based on a replacement cost value of your personal belongings with an endorsement. We'll explain homeowners endorsements below.


Endorsements and floaters

Homeowners insurance companies offer products called “floaters,” “riders,” or “endorsements.” An endorsement is any change to an insurance policy — whether adding something or removing it.

A good example of the use of endorsements relates to personal property. Most insurance companies will place special limitations on valuable personal property. If you want to increase your coverage level for these items, you would need to add an endorsement. Below are the items that are typically subject to specific insurance sub-limits.

  • $200 limit on money, gold, coins
  • $1,500 limit on jewelry, watches, furs
  • $1,500 limit on watercraft, trailers
  • $2,500 limit on firearms
  • $2,500 limit on silverware
  • $2,500 limit for on-premises business property
  • Variable limit on electronics

If you have anything in the list above that exceeds the policy limit, you should consider adding an endorsement to your home policy. If you own expensive personal items, consider a scheduled endorsement. A scheduled endorsement requires the item to be appraised but gives you substantially more coverage. This is common practice for engagement and wedding rings.

See more in-depth information on homeowners insurance endorsement options.

Identity theft coverage and homeowners insurance
Identity theft coverage and homeowners insurance

Although basic home policies don't guard against identity theft, most companies offer endorsements to cover these circumstances. While details of these endorsements may vary substantially from company to company, coverage ranges from $15,000 to $30,000 at a cost of $25 to $65 per year.

Learn more about how homeowners insurance covers identity theft.

flood insurance
Flood damage and homeowners insurance

Flood damage is usually not covered by a standard homeowners policy. Flood insurance may be provided separately through FEMA or a private flood insurance company. Depending on your location, your mortgage company may require you to purchase flood insurance.

Earthquake insurance
Earthquakes and home insurance

Earthquake damage is not covered by a standard home insurance policy. Unlike flood insurance, some insurance companies offer separate policies or endorsements for earthquake protection. If you live in an earthquake-prone area, consult your insurance company about homeowners insurance earthquake insurance.

Wind and hail deductibles
Wind and hail deductibles for home insurance

Some insurance companies assign additional deductibles for wind and hail damage, plus a deductible for other covered perils. This additional flexibility is designed to keep homeowners policies affordable.


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What are the most popular homeowners insurance companies?

If you're feeling a little overwhelmed by your options, a good place to start is by assessing the companies you're interested in. Look for ratings on customer satisfaction and financial strength to gauge how well a company treats its customers.

The table below is a list of the top 10 providers of home insurance by market share[1]. Click on each company to jump to more information.

The most popular home insurers by market share
Insurance Company J.D. Power Customer Satisfaction Rating A.M. Best Financial Strength Rating NAIC Customer Complaint Score
State Farm 4/5 A++ Very Good
Allstate 3/5 A+ Good
USAA 5/5 A++ Very Good
Liberty Mutual 2/5 A Below Average
Farmers 3/5 A Good
Travelers 2/5 A++ Good
American Family 3/5 A Good
Nationwide 2/5 A+ Very Good
Chubb 2/5 A++ Very Good
Erie 5/5 A+ Very Good

To see more information on the best home insurance companies, take a look at our comprehensive list.

State Farm
State Farm

Commanding 18% of the home insurance market, State Farm earns positive ratings across the board in customer satisfaction and financial strength. The company boasts the added benefit of providing personalized service through insurance agents available across the country.

Allstate
Allstate

Allstate is another recognizable name in insurance with agents stationed nationwide and has just over 8% of the market share in home insurance. However, its ratings are middling, with average customer satisfaction and complaint scores.

usaa
USAA

Providing insurance and financial services for military members and their families, USAA consistently scores highly in customer satisfaction. Keep in mind that you must first be eligible for USAA coverage, so not everyone will qualify.

Liberty Mutual
Liberty Mutual

Liberty Mutual's market share in homeowners insurance is slightly larger than in the car insurance market. J.D. Power and the NAIC have determined this company to be below average in terms of customer service.

Farmers
Farmers

With agents to provide personalized assistance to policyholders, Farmers has a firm presence in home insurance and decent ratings. It's also the fifth most popular home insurance country in the US.

Travelers
Travelers

Travelers was rated positively by the NAIC, but their home insurance offering was rated as below-average according to J.D. Power. Their financials — which directly correlate to a company's ability to pay out claims — indicate Travelers is in a very stable position, though it claims just over 4% of the market.

American Family
American Family

American Family has very average ratings but is slightly more popular nationally for homeowners insurance than auto insurance. Compared to other top providers, its financial outlook may not be the most robust.

nationwide
Nationwide

Its customer satisfaction rating may not be the best, but Nationwide has received favorable ratings by the NAIC and A.M. Best for its homeowners insurance product. With about 3% market share, it's the eighth most popular provider of home insurance.

Chubb
Chubb

Catering primarily to homeowners of high-value propertiesChubb is the ninth most popular home insurance company. Chubb offers some extra benefits and coverage options that set it apart from many competitors.

Erie
Erie

A prominent regional insurance company serving select eastern states, Erie was highly regarded by J.D. Power and A.M. Best. Erie's customer complaint score — as logged by the NAIC — was also better than average.


How to compare home insurance companies

Not all homeowners insurance companies are the same. It pays to do a bit of research ahead of time to make sure that you don't get stuck with an insurer who leaves you less than satisfied. To help you research which home insurance companies are right for you, follow these steps. 

 

Look up their reputation

When starting your search, make sure to have a look at reviews and third-party ratings to get a sense of customer satisfaction. Organizations such as the Better Business Bureau, National Associations of Insurance Commissioners and JD Power are good resources for your search.  

 

Study the coverage options

Most homeowners insurance will offer the same basic types of coverage. However, there are some that will offer more specialized coverage types and endorsements that might better suit your needs. 

 

Look at average rates

You can get a general sense of how costly an insurance company is by studying average rates. The Zebra has compiled a list of average yearly premiums for the top insurance companies that can help. Keep in mind that your rates are likely to differ from the average, as each company's underwriters weigh rating factors differently.

 

Check for discounts or other perks

Many insurance companies offer a variety of homeowners discounts if you meet certain criteria. Sometimes these are based on your job or membership in a certain group. For instance, USAA offers its members banking and other options. Similarly, AAA members may find a lot of other benefits from getting their insurance coverage through them.


Homeowners insurance tips and advice

If you’re shopping for homeowners insurance coverage, or if you have it but want to make the most of your policy, consider some simple steps to ensure you’re properly covered and not overpaying.

Checklist
Take a home inventory

Go through all of your belongings, big and small, to take a full home inventory and determine your coverage needs before getting a home insurance quote. In the event of a claim, you'll be able to quickly determine what is missing and calculate its value.

homeowners policy
Update your home policy after major purchases

Pay attention to coverage limits for specific items. If you purchase a new item that exceeds the property insurance limit of your policy, you run the risk of having insufficient coverage. Consider additional endorsements and floaters with any newly purchased high-value item.

wallet with bills
Check your homeowners policy for discounts

While discounts vary per insurance company, typical home insurance discounts include multi-policy (home and auto), new roof, home security system, claims-free, non-smoker and new home discounts. Look closely at your policy to see if you qualify for any possible discounts. Learn more about common homeowners insurance discounts.

Cleaning supplies
Maintain your home

Insurance companies see things like old roofs, mold and general disrepair as liabilities and will charge you accordingly for them. It is important to maintain the structural integrity of your home to ensure your premiums don’t increase.

house with a car parked out front
Combine insurance policies

While it may not be advisable in every situation, bundling your home and auto insurance coverage with the same carrier could provide savings and make managing your policies easier. Also look into other coverage offered by your insurer, such as life insurance.


Home insurance frequently asked questions

Homeowners insurance is complicated. Below are a few answers to frequently asked questions about how much home insurance is necessary, what homeowners insurance covers, and some other common terminology. 

Home insurance covers the structure of your home along with personal property and family members who live in your household. Depending on your insurer, they may prefer that you explicitly name every household member on the policy. So if your spouse, children, relatives or even the family pet causes damage to someone else's property, the liability portion of your homeowners insurance would extend to the liable family member.

Home insurance covers the people who reside in a household. Some insurance companies require every member of the household is named on the policy. If the insured's partner, child, relative or pet damages someone else's property, the liability portion of the homeowners insurance policy would extend to cover the liable family member. Typically, it also extends to cover family members who may be away from home — like a child heading off to college. Some insurance companies may only provide coverage if the student is living in on-campus housing — the rules may vary slightly from insurer to insurer. If a child is living in off-campus housing, they should consider purchasing a renters insurance policy.

Insurance customers pay premiums to a home insurance company in return for the assurance that the insurance company will provide compensation — up to coverage limits — in the event of a total loss. As long as the homeowner, or their escrow, continues to pay and the cause of loss is considered a covered peril, the insurance company will honor repayment for damages.

The coverage for your dwelling, i.e., the physical structure of your property, should be equal to the rebuild cost of your home. For your liability coverage, you should have enough coverage to protect your personal assets.

The key difference is that home warranty insurance protects internal appliances and systems for heating/cooling, electric, and plumbing from a number of damages that are usually excluded from a homeowners insurance policy. It covers specific appliances while home insurance covers the structure of your home in addition to your personal property. If you want your HVAC or kitchen appliances covered from wear-and-tear, consider a home warranty. Home warranty insurance is typically a separate policy you'll need to procure to protect appliances beyond the manufacturers' provided warranty. Appliance and mechanical systems repairs can get extremely costly; home warranty insurance will shield you from potential financial losses if systems like HVAC fails and needs repairs or replacement.

Most homeowners policies will not cover mold unless it can be proved it was caused by a covered loss. If your policy provides no mold protection, you can add it back with a mold/fungi endorsement. This coverage is relatively limited.

You can only deduct homeowner’s insurance paid on a rental property, i.e., a home you own and rent out to a tenant. Outside of this circumstance, you may deduct premium payments to your private mortgage insurance. It’s important to note this isn’t your actual homeowner’s insurance but your mortgage insurance. If you’re unable to make the 20% required downpayment on your mortgage and thus have private mortgage insurance (PMI), you can deduct this, though additional restrictions apply.

Once you find out how much coverage you need, The Zebra's quoting tool can generate rates from multiple companies — the process only takes a few minutes. Seeing multiple quotes at once can help you compare rates easily and quickly so you can find the best value for your policy and coverage.

Comparing homeowners insurance quotes before the end of every policy period is a great way to consistently get the most affordable rate. Don't be afraid to switch insurers; there is no penalty for canceling or not renewing your policy when it's due to expire. If you find a better rate while comparing quotes, switching companies can save you more money in the long run.

According to The Zebra's research, Nationwide had the most affordable home insurance rate, at $103/month. USAA came in second, with an average cost of $115/month. State Farm came in third.

Save an average of $440 a year by comparing your options.

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RECENT QUESTIONS

Does the name on my insurance policy need to match the name on my mortgage loan and deed?

Generally speaking, that shouldn't be an issue for your homeowners insurance company. For the sake of avoiding any sort of confusion down the road, however, it may be beneficial to update your existing accounts with your mortgage provider.
Jun 24, 2017 Elyria, OH

If the value of my home goes up, do I need to increase my coverage?

The value of your home increasing is amazing for selling purposes. However, when it comes to insuring a home, insurance carriers value the dwelling (Coverage A) at a replacement cost.
Apr 1, 2022 Copely, Ohio

Will homeowners insurance cover my riding lawn mower that caught on fire?

Yes, you can file a claim with your homeowners insurance but I would see if your lawnmower's warranty is still valid before you look into a claim. If you do decide to file a claim, it would be covered under personal property.
Jul 24, 2019 Wynne, AR

Is the type of siding on a house, like vinyl, a rating factor for insurance premiums?

There is no straight-forward answer to what building materials you use for your house and the homeowners insurance rate you will end up with. Here's a tip to keep in mind that may help you make a decision: brick, stucco, and concrete are preferred by most insurers because they tend to be flame-retardant so the risk of losing the whole building decreases.
Sep 2, 2019 Athens, GA

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