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Getting homeowners insurance shouldn't be confusing. Compare Delaware rates by city and insurance company below.Get Free Quotes
Home insurance is an optional — but important — product that works to keep your belongings safe in the event your home suffers damage from common incidents. A homeowners insurance policy covers your house and property in the event of a number of misfortunes, such as fire, theft, vandalism, or wind damage.
Unlike car insurance, home insurance is not priced based on state laws. Even so, large gulfs exist in home insurance rates from state to state. Insurance policy costs by state may vary based on the number and cost homeowners policy claims filed across the state, and also on the value of the dwelling and belongings being insured.
The best way to get inexpensive homeowners insurance in Delaware is to compare rates and consider policies from multiple companies. Find out average home insurance rates in Delaware by referencing the below data. Individual rates may vary depending on coverage options.
Prices for home insurance in Delaware differ based on the insurance company you choose. Cumberland Insurance Group offers the most affordable homeowners policies in Delaware — just $569 per year. This compares favorably to the state average cost of $880, providing a $311 price cut on the typical rates in the state.
Start looking for home insurance by checking out the cheapest Delaware insurance companies, listed below.
|Company||Average 12-Month Rate in Delaware|
|Cumberland Insurance Group||$568.96|
Home insurance rates in Delaware vary by city. Pricing may depend on city-specific variables, such as the number of local claims filed, giving your ZIP code weight in deciding how much you pay.
The cheapest home insurance rates in Delaware are available in Pike Creek. A typical home insurance term in Pike Creek totals just $681 per year — $198 less than the average policy in other Delaware cities. Reference the below table to see the cheapest cities in Delaware for home insurance.
|City||Average 12-Month Home Insurance Rate|
If you want to save on homeowners insurance, consider purchasing your home and auto policies from the same insurance company. A home and auto insurance bundle in Delaware can save you a substantial sum each month on car insurance. Bundling home and auto policies in Delaware leads to an average annual savings of $189.
|Avg. 12-Month Auto Insurance Rate (No Bundle)||Avg. Annual Auto Insurance Rate (Bundle)||Annual Bundle Savings||Bundle Savings %|
Currently, you can buy GEICO's home insurance products in Delaware.
No. Unlike auto insurance, home insurance is not required in Delaware. However, your mortgage lender may require you to carry coverage.
Because hurricanes can cause such calamitous damage and demolish properties entirely, insurance companies remain unwilling to assume the risks posed by hurricanes. If you live in Delaware, you could be vulnerable to suffering hurricane damage. In fact, 8,901 single-family homes are extremely vulnerable to hurricane damage in Delaware.*
If you reside in a coastal area, it's of utmost importance to check and understand your homeowners policy because a basic home policy won't be sufficient to cover the costs of repairing damage from hurricanes — you would need to bolster your policy with windstorm and flood insurance, both of which would be applicable to pay for the damages. Depending on your location, your insurance company may make it mandatory to have a separate hurricane deductible if you reside in an area that's especially vulnerable.
While “hurricane insurance” doesn’t actually exist as a standalone product, most home insurance policies will typically cover most perils associated with the storm. However, you will likely encounter what’s known as a “hurricane” or “windstorm” deductible if you live in a hurricane-prone area. Only triggered in certain conditions, these specialized deductibles work differently than the deductible for a standard peril. For a start, they are oftentimes more expensive, based on a percentage of your home's overall value. Though it is a common peril associated with hurricanes, flooding is rarely covered by a standard home insurance company. Flood coverage must, in most cases, be obtained through the National Flood Insurance Program.
Some of the more affordable options for Delaware hurricane coverage can be found below. Treat these rates as estimates and reach out to companies directly for rates specific to your property.
|Insurance Company||Average Annual Earthquake Insurance Rate|
*Source: Insurance Information Institute (https://www.iii.org/fact-statistic/facts-statistics-hurricanes)