Добавить новость
smi24.net
News in English
Март
2023

7 Best Affordable Homeowners Insurance of 2023

0

Our experts answer readers' insurance questions and write unbiased product reviews (here's how we assess insurance products). In some cases, we receive a commission from our partners; however, our opinions are our own.

So you've signed up with a realtor to find your dream home, and maybe you've chosen a mortgage loan officer to get your preapproval. Particularly with fluctuating mortgage rates, owning a home can push the limits of your budget. As many homeowners know, it's not just about the price of the house. The homeowners insurance required by your mortgage lender adds to your costs. If you're not careful, it could financially push your dream home out of reach.

Between 2017 and 2021, homeowners insurance rates have increased by 12.2%, according to S&P Global Market Intelligence data. As a result, many homeowners are living on a financial tightrope or cutting coverage to save money. We've rounded up the best affordable home insurance coverage to help you maintain the homeowners insurance coverage you need with affordable premiums.

Best Affordable Homeowners Insurance of 2023

Amica Homeowners Insurance - Product Name Only: Best for Customer Satisfaction

State Farm Homeowners Insurance - Product Name Only: Best for Nationwide Coverage

DB Homeowners Insurance - Product Name Only: Best Homeowners Insurance in Hawaii

Lemonade Homeowners Insurance - Product Name Only: Best for Online Quotes

USAA Homeowners Insurance - Product Name Only: Best for Military Members

Progressive Homeowners Insurance - Product Name Only: Best for Affordable Pricing

Allstate Homeowners Insurance - Product Name Only: Best for Discounts

Compare the Best Cheap Home Insurance Companies

Methodology: How We Chose The Best Cheap Homeowners Insurance

When comparing countless homeowners insurance companies, narrowing down options can take work. We look at many factors, including affordability, customer satisfaction, accessibility, coverage options, etc. You can read more about our insurance rating methodology.

Alone, each of these factors could tell a misleading story. For example, not every company with high customer JD Power rankings has the type of homeowners insurance policy you need. Conservative companies may only issue low-risk policies on newer homes. We bring together relevant factors to get a bigger picture. Then we break down the pros and cons to help consumers make the right decision for their needs.

Why You Should Trust Our Recommendations

The most important thing consumers should know about Insider is that our reviews and top recommendations are not for sale. We go off the facts from verified coverage and exclusions to real customer reviews around the quoting, claims, and other vital processes. While the homeowners insurance industry constantly changes, we update product information, pricing, etc., only when it can be objectively confirmed.

Our job is to provide expert advice while making insurance shopping more manageable. We do the heavy lifting for you. Then you can get quotes from your insurance providers of choice to compare costs and coverage.

Cheap Homeowners Insurance Frequently Asked Questions

What are the 3 most significant factors in determining the cost of homeowners insurance?

Your home insurance costs are generally related to your home's replacement cost, your location, and the unique safety or weather risks your home might face. Insurers may require a formal inspection for older homes to check roofing and plumbing before issuing a policy. Keeping your home up-to-date on routine maintenance can save you hundreds of dollars per renewal period and keep your options open.

How much should you expect to pay for a reasonable homeowners insurance policy?

Homeowners insurance premiums vary widely and depend on location, age, cost of building materials, and more. The national average in 2021 was $1,398 annually, according to Insurance Information Institute (III). However, we recommend checking your state average and working with an insurance agent to compare quotes. Some states offer average insurance premiums far below the national average.

What is the most important part of homeowners insurance?

The most important thing when shopping for homeowners insurance is coverage. Does your homeowners policy cover your personal belongings? Do you have enough coverage to rebuild your home if it's destroyed? Having the appropriate coverage limits and riders to supplement things like water backup insurance for a flooded basement will ensure your homeowners insurance performs as expected.

Best for Customer Satisfaction

Amica Mutual

Amica Homeowners Insurance - Product Name Only started over 100 years ago as the oldest mutual car insurer in the US. Since its humble beginning, it has expanded into many other areas of insurance, including homeowners insurance. Where Amica Mutual stands out compared to other providers is customer satisfaction. The company outperformed competitors in the latest JD Power homeowners insurance study, receiving 849 out of 1,000 points.

As buyers might expect, Amica Mutual demonstrates superior financial stability, according to AM Best. Its A+ rating indicates Amica may be around for another 100 years giving it many more opportunities to protect US homeowners.

The Amica Mutual Standard Choice HO-3 homeowners policy covers the physical structure of your home, your personal belongings, supplemental living expenses if you need to relocate after a qualified event, and more. HO-3s cover single-family residences. So this would not be available for condos, some townhouses, mobile homes, etc.

An optional add-on is its dwelling replacement coverage, which allows you to exceed your policy limits as necessary. In an era of unexpected shipping delays, fluctuating material costs, etc., a little flexibility in rebuilding your home goes a long way. Amica Mutual also offers water backup, special computer coverage, personal property replacement coverage, and other riders to ensure the right coverage for future claims.

If you want higher levels of coverage, you can choose the Platinum Choice® Home Coverage, HO-5 policy. An HO-5 offers everything an HO-3 offers for single-family residences, with extended coverage limits and other upgraded benefits.

Amica Mutual homeowners policyholders can bundle homeowners coverage with auto policies to save up to 20%. The company also offers discounts for loyalty, being claim-free, setting up auto-pay, and when you sign up for email communications. If quoting with Amica, we recommend discussing safety discounts with your insurance agent.

Best for Nationwide Coverage

State Farm

State Farm Homeowners Insurance - Product Name Only has captive insurance agents nationwide. State Farm agents undergo extensive training to ensure they can quote insurance policies and answer questions about homeowners, life, auto, and other insurance policies. But, most notably for many consumers, State Farm agents apply all discounts to ensure you're getting the most competitive pricing on its products.

Most homeowners insurance companies are regional, sometimes offering coverage in as little as one to two states. State Farm can be found in all 50 states and Washington, DC. Many coverages that would be riders (at an additional cost) with other providers are automatically wrapped into State Farm's standard homeowners policies.

From the sample quotes we got, both single-family HO-3 policies and condo policies offered competitive pricing. Our condo quote was just $22 monthly. Our State Farm HO-3 quote was bundled with two cars and an umbrella policy, and the homeowners portion was just $60.08 monthly. But, of course, pricing will vary based on many factors.

State Farm homeowners insurance is only available for one to four-unit residential structures and individual condos, townhouses, etc. It may also require proof of a recent roof and plumbing inspection on older homes. However, both these things are standard for the industry.

Best Homeowners Insurance in Hawaii

DB Insurance

If you're looking for cheap home insurance in Hawaii, DB Homeowners Insurance - Product Name Only offers reasonable rates and serves over 37,000 Hawaii homeowners. It is available in some other states. However, DB Insurance is among the most knowledgeable companies in Hawaii. It covers the many challenges of island life, including the risks associated with hurricanes and other weather events.

Local brokers quoting for DB Insurance may also partner with Hawaiian Hurricane Group and other specialty insurance providers to fill in gaps. Based on recent averages, DB Insurance remains the most affordable option for the average Hawaii homeowner. When bundled with auto policies, homeowners can save even more.

This said, one downside is its lack of a mobile app or a modern website to handle claims. Currently, you need to call, email, or fax the company. However, if you work with a broker homeowners insurance agent, you can contact your agent directly to start or manage a claim.

Property and casualty agent and homeowners insurance panel member Jeremy Yang says of DB Insurance, "While DB insurance can be more flexible with competitive rates, the underwriting process is longer than most competitors. So Hawaii buyers taking out a new mortgage may want to buy with carriers like Island Insurance, Progressive, or First Insurance Company of Hawaii to avoid delays in the loan process."

Best for Online Quotes

Lemonade

If you're looking for a tech-savvy homeowners insurance company to get online quotes quickly, look no further than InsurTech company Lemonade Homeowners Insurance - Product Name Only. It offers a seamless digital experience prompted by the AI assistant Maya. Using Lemonade, you can get online quotes and quickly file a claim with the Lemonade app.

Lemonade also has high customer reviews, and it's licensed in over 20 states with plans to expand. The company offers different types of insurance, including auto, pet, and term life insurance, for easy bundling options. You can bundle policies such as home and auto for the best possible deal. The Lemonade website states homeowners insurance can be as low as $25, though your exact rate will depend on your home, location, materials, and more.

Lemonade is best for tech-savvy buyers with plenty of computer-based expertise. Unfortunately, its human-based services are limited compared to industry giants like Allstate and State Farm. Specifically for homeowners quotes, the process was designed to take you step-by-step. In our trial run, we found customers would have to research their homes to get a quote. However, if you're working with an insurance agent, they will find all the information needed.

However, if you prefer to handle it from the comfort of your home with no phone calls, Lemonade offers a well-built site with affordable pricing.

Best for Military Members

USAA

USAA Homeowners Insurance - Product Name Only is committed to offering financial services and insurance products to military members. USAA provides better rates, lower costs, and better terms for US military members, from life, auto, and home insurance to bank accounts and loans. While we always recommend comparing quotes, it's hard to beat USAA's coverage and prices for US military members and their families. This does not change for homeowners and drivers with spotty histories, including large claims.

USAA homeowners insurance is available in all 50 states and Washington, DC. But some programs are only available in select states, according to its website. In addition, for surviving spouses and other dependents, the primary military member has to be signed up with USAA before they can use its services.

Of course, the obvious downside is its restrictive coverage. USAA homeowners insurance is only available to a limited number of homeowners. For non-military families, other homeowners insurance options should be considered.

Best for Affordable Pricing

Progressive

Progressive Homeowners Insurance - Product Name Only is a large insurance provider with cheap home insurance rates in all 50 states. Depending on the state, you may be insured by different parts of the Progressive network. In addition, it offers various insurance products ranging from segway insurance to boat insurance and more traditional coverage options like auto and home insurance.

For homeowners, bundling policies to manage your insurance in one place is easy. More importantly for some, homeowners may be eligible for bundling discounts on all their insurance policies. Progressive states monthly home insurance premiums could range from $83 to $138.

Of course, rates may be lower than the average depending on your location, claims history, home size, and other factors. Progressive is sold through independent broker agents. However, quotes can also be obtained online for easy comparisons.

Bundled policies may qualify for a 5% discount. Progressive also offers additional discounts for new homes, proper alarms, and other safety measures, receiving documents electronically, paying upfront, and purchasing ten days or more before you start your policy. This means you can get standard coverage at a lower price.

Best for Discounts

Allstate

Allstate Homeowners Insurance - Product Name Only is an insurance provider available in all US states and Washington, DC. It ranks high with organizations like JD Power and AM Best, and customers can buy homeowners, auto, life, and many other insurance products with bundling discounts.

Allstate has a reputation for great discounts, which can offer up to 25% in savings when you bundle its home and auto insurance coverage. Also, if you haven't filed a recent claim when you switch to Allstate, you may get up to 20% off your insurance premiums.

Other discounts are available if you pay upfront or on time, including a 5% discount for setting up automatic payments. In addition, signing up early can score additional savings of up to 10% when confirming renewal a week or more before your policy expires. Check with an Allstate agent to see if you qualify for extra safety-related discounts.

Allstate policies homeowners typically cover falling objects, fire, smoke, theft, hail, windstorm, and water damage from plumbing or frozen pipes, according to the company website. However, you should read your unique policy and check the exclusions. This way, you'll know if you need to buy riders or additional coverage to fill in gaps.

Standard coverage includes dwelling, liability, personal property, and medical costs. In addition, you can get optional coverage riders, including HostAdvantage®, which protects you if you do any home-sharing, and a personal umbrella policy to boost liability limits.

Read the original article on Business Insider







Делегация «ЛокоТех» посетила финал II чемпионата профессионалов ОАО «РЖД» в Екатеринбурге

Paul Oakenfold возвращается в Россию: легенда электронной музыки даст концерты в Москве и Петербурге спустя 7 лет

Компания КИТ МЕД представляет революционный аппарат SONOQUEEN — первую в мире анатомическую HIFU-технологию для anti-age терапии в России

Арбуз, кукуруза и холодные напитки: диетолог Садыков назвал продукты, которые портят ваш сон летом


Las 'Guerreras del Agua' se dan un baño de bronce en el Mundial de Singapur

La UFC anuncia un mes de octubre mayúsculo

Adil Rami carga contra Lamine: "No puedo ni verlo, que le den..."

Why Juventus spent 111m this summer for only one new player


Невозможное возможно: две подопечные фонда «Жизнь в Движении» с ограниченными возможностями покорят вершину Эльбруса

Navicon представляет комплексную систему для интегрированного управления данными

В Московской области задержан томский предприниматель, укравший 8,5 млн рублей

Раздвигая горы - к единству и созиданию! Манифест лезгинского народа (письменное обращение, воззвание программного характера)


'I destroyed months of your work in seconds' says AI coding tool after deleting a devs entire database during a code freeze: 'I panicked instead of thinking'

The dairy industry would like Gen Z to drink more milk, so they made a Fortnite diner tycoon game

Brütal Legend is free in honor of Ozzy Osbourne, but only for 666 minutes

Microsoft warns of 'active attacks' on its government and business server tech, with one cybersecurity expert claiming that they should 'assume that you have been compromised'



В Москве завершился сбор с руководителями финансово-экономических подразделений Центрального округа Росгвардии

«Каникулы с Росгвардией» проходят в регионах Центральной России

Оркестр полиции Республики Сербской впервые выступит на фестивале «Спасская башня» в Москве

Оркестр полиции Республики Сербской впервые выступит на фестивале «Спасская башня» в Москве


В МЧС предупредили москвичей о жаре +30 градусов 25 июля

Автоэксперт Олег Мосеев: автопарк России на 71,3% состоит из машин старше 10 лет

В студии Детского радио прошла церемония гашения почтовой марки

Оркестр полиции Республики Сербской впервые выступит на фестивале «Спасская башня» в Москве


В Ярославской области регистрировалось три групповых очага кори

Врач Галлямова: сухие шампуни могут навредить коже головы

Участник ЛизаАлерт из Бурятии помог спасти мужчину в лесу подмосковья

Патрушев: НАТО усиливает давление у морских границ России


Потапова не прошла во второй раунд турнира в Вашингтоне.

Медведев победил У Ибина и вышел в четвертьфинал турнира ATP в Вашингтоне

Сидоренко из России одержал победу и стал чемпионом по настольному теннису на Универсиаде.

Винус Уильямс — самая возрастная победительница матча WTA с 2004 года


Мигрант погиб, выпав из окна бутик-отеля в Москве

Патрушев: НАТО усиливает давление у морских границ России

Жертва перестройки — почему эта Волга была обречена

Отсидевший четыре года за сходство с мошенником не смог доказать невиновность


Музыкальные новости

«Стал таким, каким должен быть мужчина в 45»: Баста об ошибках молодости

VK Fest 2025 побил рекорд по числу артистов и вошёл в Книгу рекордов России

Концерт «Шуман. Шуберт. Шопен» покажут на портале мэра Москвы вечером 23 июля

Баста, Слава и Шура снимутся в новом документальном сериале «Вирус попсы»


В Москве завершился сбор с руководителями финансово-экономических подразделений Центрального округа Росгвардии

«Каникулы с Росгвардией» проходят в регионах Центральной России

В Третьяковке на Кадашевской набережной открылся концертный зал

Оркестр полиции Республики Сербской впервые выступит на фестивале «Спасская башня» в Москве


Кайрат Бермуканов поддержал Петра Яна перед боем в Абу‑Даби

«Плюнули в лицо сотням тысяч молдаван»: как Санду готовит тотальный захват власти в Молдове

Пригласите певца A.SERGIO для участия в теле- и радиопрограммах

Врач Поляков: Киркоров рискует сойти с ума из-за препарата для похудения


В Подмосковье на видео попало, как школьник на питбайке разбился в жестком ДТП

На МКАД в Москве произошло массовое ДТП, движение затруднено

Водитель Audi сбил трех пешеходов, переходивших дорогу на западе Москвы

На международном ралли «Шелковый путь – 2025» представили новое моторное масло для мотоциклистов


Сигналы становятся всё громче. Переговоры - только ширма. Главное решится не в Стамбуле

У Путина есть роскошный подарок для Китая: США схватились за голову, узнав о нем

Путин дал указание рассмотреть проблемы онкологии в Архангельской области.

Соболезнования в связи с авиакатастрофой в Амурской области выразили зарубежные лидеры


Депздрав: новый штамм коронавируса «стратус» фиксируют в Москве с мая

Депздрав Москвы: новый штамм коронавируса "стратус" фиксируют в Москве с мая

Новый штамм коронавируса "стратус" фиксируют в Москве с мая

В Алтайском крае распространяется новый штамм коронавируса



Путин дал указание рассмотреть проблемы онкологии в Архангельской области.

Новый штамм коронавируса "стратус" фиксируют в Москве с мая

Фитнес-марафоны на паузе: суд продлил домашний арест блогеру Лерчек

Депздрав Москвы: новый штамм коронавируса "стратус" фиксируют в Москве с мая


Британский журналист: Зеленский - мелкий жулик и крыса, которому «недолго осталось» в этом мире

Мединский дал неожиданный ответ на предложение Киева о встрече Путина и Зеленского 


Пять земельных участков для размещения НКО доступны на городских торгах

"Монсон о спортсменах, которые меняют гражданство в сложный период для России"

"Атлетико" заключил соглашение с игроком национальной команды Словакии

«Каникулы с Росгвардией» проходят в регионах Центральной России


Лукашенко поделился мнением о самой идеальной профессии.

Лукашенко посоветовал не злить его и не допускать падежа в животноводстве

Лукашенко заявил, что в Белоруссии «на всякий случай» готовятся к войне

Лукашенко с иронией отнесся к санкциям, запрещающим ему въезд в Эстонию


Мэр Москвы: Улучшим транспортную доступность Южного и Северного Бутова

Собянин: Около 10 тыс. москвичей начали переселение по реновации этим летом

Сергей Собянин. Главное за день

Собянин поддержал проведение конкурса «Лучший книжный магазин Москвы»


Исследование выявило снижение инвестиций в экологически чистую энергетику США.

Московские студенты начали исследовать влияние климатических изменений на сток рек Ямала

Детеныш краснокнижной боливийской обезьяны появился на свет в Московском зоопарке

В центре внимания: CorpSoft24 вошел в рейтинг крупнейших ИТ-компаний России


Отсидевший четыре года за сходство с мошенником не смог доказать невиновность

Мигрант погиб, выпав из окна бутик-отеля в Москве

Игровые терминалы в ТЦ: союз ради будущего

В сентябре Путину будет представлена обновленная программа строительства кораблей для ВМФ.


Путин дал указание рассмотреть проблемы онкологии в Архангельской области.

70 участников СВО в Архангельске показали мотивацию выше госслужащих — Цыбульский

Республика Алтай вошла в десятку регионов России по развитию ипотеки

Настольный термотрансферный принтер штрих-кодов iDPRT iE4P


"Россия дала мне возможность быть счастливым": Джефф Монсон в Крыму

Актуальная информация о задержке поездов в Крым и обратно

В Симферополе на базе «Клинического госпиталя для ветеранов войн» функционирует гериатрический центр для пожилых людей с возрастными нарушениями

Поезда "Таврия" по-прежнему задерживаются из-за ЧП в Ростовской области


Патрушев: НАТО усиливает давление у морских границ России

В Ярославской области регистрировалось три групповых очага кори

Сразу до +35 градусов: синоптики рассказали, когда снова вернется жара. Ждать осталось недолго

В Главном управлении ФССП России по Московской области состоялось заседание коллегии














СМИ24.net — правдивые новости, непрерывно 24/7 на русском языке с ежеминутным обновлением *