State Farm offers some of the cheapest homeowners insurance policies in Delaware, with annual premiums starting at $93 per month for $300,000 in dwelling coverage.
Chris SchaferDeputy Managing Editor, News and Marketing Content
15+ years in content creation
7+ years in business and financial services content
Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.
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As homeowners insurance rates rise nationally, Delaware residents may be relieved to learn they still enjoy some of the lowest average rates in the country. The Diamond State’s average homeowners insurance rate of $101 per month ($1,212 per year) is the fifth cheapest in the U.S.
The rate you pay for your homeowners insurance will vary by ZIP code, how much coverage you buy, which company you choose, and more.
Increased incidents of severe weather have made profitability harder for insurers, raising rates. But Delaware has no shortage of cheap insurance options — including Cumberland Mutual, State Farm, and Nationwide.[1]
Here’s what you should know about finding home insurance in Delaware.
Quick Facts
State Farm offers the lowest average rates in the state, at $93 per month.
Delaware’s low elevation means homeowners face flooding risk.
Windstorm coverage and weight of snow coverage are also recommended.
Best home insurance companies in Delaware
Several affordable homeowners insurance companies offer policies in Delaware. The best company for you will depend on your and your family’s needs. When choosing an insurer, it’s important to consider your home’s age, location, and value.
The following sections lay out some of the best homeowners insurance policies in Delaware.
Insurance Company
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
Average Monthly Premium
Best For
Cumberland Insurance Group
N/A
$56
Cheap rates
State Farm
8.2
$93
Financial stability
Nationwide
8.4
$115
Water damage
Encompass
NA
$93
High-value homes
Best for cheap rates: Cumberland Insurance Group
Cumberland Mutual’s average home insurance rate is $43 cheaper than Delaware’s already low state average rate. And Cumberland policyholders can earn discounts when they purchase multiple policies, install alarms on their property, or go an extended period without reporting a loss.
Delaware is no stranger to floods, and homeowners considering Cumberland should be aware that the company doesn’t offer flood insurance. But it does have additional coverage for sump pump overflow and sewer backup.
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.2/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
643
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$93/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$139/mo
The largest insurance company in the country by market share, State Farm has 23 locations in Delaware, including in Dover, Newark, and Wilmington. State Farm’s large statewide footprint means Delaware homeowners who need an adjuster to come out to their property won’t have a problem. State Farm has also earned AM Best’s highest rating of A++ for its financial stability, meaning the insurer is financially able to pay claims.[3]
State Farm’s average rates in Delaware are excellent by national standards but a bit more expensive than Cumberland. Discount options are also more limited compared to some competitors.
Pros
Large, resource-rich insurer with high financial strength
Above-average J.D. Power customer satisfaction score[4]
Cons
May lack the personal, boutique feel of a smaller insurer
Offers fewer discounts than some other large home insurers
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.4/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
641
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$115/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$216/mo
Fortunately, Delaware experiences fewer natural disasters than many other states — but it does get about 44 inches of rain each year, making it the 17th-wettest state in the country. Nationwide’s “smart home program” uses innovative water detection devices — at no extra cost — to track moisture before it becomes a major problem. Enrollment also qualifies you for a discount.
But homeowners looking for excellent service might be disappointed with Nationwide. Mixed reviews on the Better Business Bureau’s website mention frustration around the claims process and a lack of transparency around pricing.
Pros
Third-lowest average rates in the state
Offers several discounts
Cons
Below-average J.D. Power customer satisfaction score[4]
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
NR
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$93/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$142/mo
Delaware’s median home values closely mirror the national average, but Emcompass’s Elite or Deluxe homeowners coverage is a good option if you have a high-value house or additional structures on your property, like a swimming pool.
Encompass’s wide range of additional coverages — like jewelry and fur replacement cost coverage and computer recovery coverage — could be a good idea for homeowners with many valuable items to protect.
Pros
Deluxe and Elite coverage packages for high-value homes
Several additional optional coverages
Cons
Above-average number of NAIC customer complaints[6]
Delaware homeowners pay some of the most affordable rates in the country. The Diamond State features several insurers that offer average rates below the national average of $211 per month. State Farm’s average cost of home insurance is $93 per month, making it the cheapest option in Delaware.
Here’s the full list of cheap homeowners insurance companies in Delaware.
The below rates are estimated rates current as of: Monday, July 28 at 12:00 PM PDT.
Delaware residents pay an average of $103 per month for homeowners insurance. This rate applies to policies with a coverage limit of $300,000 and a $500 deductible. Your rates will vary based on the amount of coverage you purchase and the deductible you set. Generally, choosing a higher deductible will result in lower monthly premiums.
Other factors can affect your home insurance rates as well, including the age of your home, the construction materials used, your personal claims history, the location of your home, and more.
Cost of homeowners insurance by dwelling coverage amount
The amount of dwelling coverage you purchase affects your premiums. Purchasing higher coverage levels will result in higher premiums. If you own a high-value home or live in an area with the potential for severe damage, you should consider a higher dwelling coverage amount.
The table below shows the average annual premiums in Delaware based on coverage limits.
The below rates are estimated rates current as of: Monday, July 28 at 12:00 PM PDT.
Your deductible is the amount you pay out of pocket before your insurance kicks in and covers damages to your home and personal property. For example, if your deductible is $500, you’ll pay $500 worth of repairs before your insurance coverage handles the rest.
Policyholders get to choose their deductible — and a higher deductible will generally lead to lower monthly premiums. This may lead you to consider a high deductible to lower your monthly premiums, but make sure you don’t choose a deductible so high you can’t afford to pay it should you need to file a claim.
The table below shows how different deductible amounts affect your average annual premium for $300,000 in dwelling coverage in Delaware.
Deductible Amount
Average Annual Premium
$500
$1,235
$1,000
$1,123
How to get cheap homeowners insurance in Delaware
Homeowners insurance premiums can put a dent in your budget, even in states like Delaware, where rates are below the national average. Here are some steps you can take to lower home insurance costs:
Comparison shop. Home insurance rates vary significantly from company to company. Comparing home insurance quotes from at least three to five different companies is a great way to find the coverage that best fits your budget.
Bundle home and auto insurance. Most insurance companies offer discounts to policyholders who purchase both a home insurance policy (or renters policy) and a car insurance policy from them. You may even save as much as $1,000 per year, depending on your insurer and what you bundle.
Perform home repairs. Insurance companies consider your home’s condition when determining your rates. A leaky roof, shaky foundation, or other signs of deterioration can increase the likelihood of a future claim. Fortunately, you can earn discounts by fixing these problems or adding new features that lower the risk of a claim, like an advanced fire alarm system.
Purchase the right amount of insurance. Eight different types of homeowners insurance are available. These are known as policy forms, and they cover different sources of damage in different ways. Newer homes or homes built of certain materials may not need as much coverage. Review each coverage type carefully because choosing the right coverage can help you find the best rate.
How much homeowners insurance do you need in Delaware?
When you take out a mortgage on your home, your lender will require you to purchase a home insurance policy to protect its investment. As you shop for home insurance, it’s important to understand exactly what your policy covers.
Evaluate your home’s value and your personal financial situation when deciding how much insurance to buy, including:
Property value: Figure out how much it’ll cost to rebuild your home in the event of a severe loss. Doing your own research regarding local repair costs can give you a better idea. Once you have a clear sense of your home’s value and how much it’ll take to fix it, you can choose coverage limits with confidence.
Personal belongings: Your homeowners insurance doesn’t just cover structural damage to your home — it also covers what’s inside your home. Taking careful inventory of your personal items, like furniture and electronics, can help you decide how much insurance you need.
Location: Risk levels depend on where your home is located. For example, a home located on a river has a greater risk of flood damage. Additional insurance products to cover water damage may be necessary in that situation. Certain areas may also have a higher likelihood of theft.
As a property owner, you must also purchase liability coverage, which protects you financially in the event of a lawsuit if you or a family member injures a visitor to your property.
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What are some of the biggest risks when owning a home in Delaware?
Delaware doesn’t experience as much severe weather as states like California and Florida. Still, people in the First State should be prepared for any of the following risks:
Wind damage
Hurricanes aren’t common in Delaware, but they do occur occasionally. For instance, as recently as 2020, Hurricane Isaias caused widespread damage in the state. Most home insurance policies cover damage related to windstorms.
Water damage
Set on the coast, Delaware has the lowest average elevation of any U.S. state, which makes it prone to flooding. Unfortunately, most standard home insurance policies don’t include flood coverage. Fortunately, you can look for flood insurance through the National Flood Insurance Program.
Damage from the weight of snow
Delaware’s average yearly snowfall hovers around 20 inches per year. Most home insurance policies cover damage from the weight of snow or sleet, though less robust policies may exclude it.
Delaware homeowners insurance FAQs
If you still have questions about how you can secure the best home insurance rate in Delaware, the following answers can help.
How much is home insurance in Delaware?
The Diamond State’s average homeowners insurance rate of $101 per month ($1,212 per year) is the fifth cheapest in the U.S. The national average is $211 per month.
Who has the cheapest homeowners insurance in Delaware?
State Farm offers the cheapest monthly rates in Delaware, at $93 per month.
Does Delaware require homeowners insurance?
Homeowners insurance isn’t required by law, but your mortgage company will require it. Having such coverage can provide peace of mind that you’re protected if a fire or another natural disaster destroys your home.
Does GEICO offer homeowners insurance in Delaware?
Yes, you can buy GEICO home insurance in Delaware. But you may find other insurers more affordable.
Methodology
Insurify data scientists analyzed rates from more than 180 home insurance companies sourced directly from Insurify’s partner companies and Quadrant Information Services. Rates span all 50 states and Washington, D.C., and quote averages represent the mean price for a given coverage level and geographic area. To ensure data reliability, only insurers meeting minimum quote thresholds were included in the analysis.
Unless otherwise specified, quoted rates reflect the average cost for homeowners with no prior claims and good credit with a home construction year of 1980. The default coverage assumptions include:
Default Coverage Assumptions
Dwelling coverage: $300,000
Deductible: $1,000
Personal property limit: $25,000
Liability limit: $300,000
Additional data points beyond these default values are sourced from Insurify’s proprietary database. Rates are updated monthly.
A.M. is a Brooklyn-based writer, editor, and content marketing strategist who's worked with major brands in insurance, tech, finance, and healthcare. He also contributes to The Average Joe, a personal finance newsletter that reaches over 250,000 daily readers. Since 2019, he's written for Insurify, breaking down a diverse range of insurance topics into crisp, readable prose.
A.M. has been a contributor at Insurify since December 2022.
Edited byChris SchaferDeputy Managing Editor, News and Marketing Content
Chris SchaferDeputy Managing Editor, News and Marketing Content
15+ years in content creation
7+ years in business and financial services content
Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.
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State Farm
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