Homeowners insurance in Delaware

The cost of homeowners insurance in Delaware is $1,142 a year for the average amount of coverage. Delaware residents can compare rates from multiple companies with Policygenius.

Kara McGinley

Kara McGinley

Published August 27, 2020

KEY TAKEAWAYS

  • The average cost of homeowners insurance in Delaware is $1,142 for $100,000–500,000 in coverage

  • The cheapest homeowners insurance company in Delaware is Stillwater, according to Policygenius quote data

  • When deciding on policy coverage, Delaware residents should consider the state’s tropical storms in the summer and nor’easter storms in the winter

Homeowners insurance is essential financial protection for the 71% of Delaware residents who own a home. When shopping for homeowners insurance, homeowners in Delaware should keep in mind the state’s unpredictable coastal weather and penchant for tropical storms.

The statewide average cost of homeowners insurance in Delaware is $1,142 per year, but policy premiums can differ greatly based on specific factors related to your home and the details of your policy. Your rates will be directly impacted by your home’s condition and style of build, its location, your credit and claims history, and your policy deductible amount. Rates also vary from company to company for the same level of coverage, which is why it’s so important to compare policies from different companies — that’s where we come in.

To help simplify your shopping experience, Policygenius reviewed the five best homeowners insurance companies in Delaware offered through our website. We also calculated the cheapest and most expensive cities in Delaware for home insurance based on hundreds of submitted quotes.

Compare Delaware quotes here

IN THIS ARTICLE

The 5 best homeowners insurance companies in Delaware

It’s a good idea to do some research before deciding which insurance company is right for you and your home. It’s smart to look for an insurance company that not only offers affordable rates, but also good customer service and a reputable claims process. A great homeowners insurance company is financially stable, has dependable customer service, affordable coverage, flexible policy options, and high quality discounts.

Using those benchmarks, we determined the following five companies were the best homeowners insurance companies in Delaware. Read about our methodology here.

Best company for a cheap quote: Stillwater

Stillwater provides the cheapest Delaware home insurance quote of any Policygenius partner carrier. The average quote with Hippo is $1,021 for $100,000–500,000 in coverage, which is over $100 cheaper than the statewide average of $1,142 . If you’re a Delaware homeowner looking for a budget pick, Stillwater may be your best bet.

Read our full review of Stillwater here

Best company for policy discounts: Nationwide

Delaware homeowners who are looking to save on their premiums should consider a company that offers a variety of discounts, such as Nationwide. Though the Nationwide average premium is slightly higher than the Delaware state average, Nationwide offers a generous multi-policy discount if you bundle your home insurance policy with their auto insurance or another type of property insurance. Nationwide also offers discounts for securing and strengthening your home and roof from break-ins and bad weather. If you haven’t filed a claim in three years or if you recently purchased your home, that can also land you a discount with Nationwide.

Read our full review of Nationwide here.

Best company for superior coverage: Encompass

Encompass offers an extensive amount of coverage and different policy options for homeowners. Encompass has three separate coverage packages that include all of the primary coverages you find in a standard home insurance policy, as well as several coverage enhancements and policy add-ons like replacement cost coverage, water backup protection, identity theft protection, fine art protection, and more.

Read our full review of Encompass here

Best financial standings: Travelers

One important indicator of an insurance company’s ability to pay out claims in an effective and timely manner is their financial stability, and Travelers is among the highest-rated insurers in that area. With an A++ rating with A.M. Best, Travelers has the highest score a company can receive with the insurance company credit rating agency. Travelers also has high marks with Standard & Poors, which measures long-term financial stability, as well as Moody’s, which measures what the expected losses would be if a company were to go into default.

Read our full review of Travelers here

Best company for high-value homes: AIG

If you’re a Delaware homeowner with a high-value home, you may want to consider purchasing a policy with AIG. When it comes to homeowners insurance, the term “high-value home” is primarily used as an indicator of how much the home will cost to rebuild — including its exterior structure, flooring, cabinetry and built-in appliances.

AIG is a luxury insurer and provides homeowners with guaranteed replacement cost dwelling coverage, replacement cost coverage on all personal property, and additional services like appraisals and risk protection consultations.

Read our full review of AIG here

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Average cost of homeowners insurance in Delaware by company

When comparing insurance companies, Delaware residents may find that rates differ greatly from company to company for the same level of coverage. A more expensive policy may provide more coverage add-ons in a basic plan than their competitors, but some companies may simply charge more for coverage in certain areas than others.

After reviewing hundreds of quotes submitted with Policygenius, we found that Stillwater is the cheapest insurance company in Delaware with an average annual premium of $1,021 for $100,000–500,000 in coverage. Encompass is the most expensive with an average annual premium of $1,344.

CompanyPolicygenius RatingAverage Cost
ASI6.6/10$1,215
Encompass8.3/10$1,344
Nationwide7.7/10$1,152
Progressive6.6/10$1,105
Stillwater7.6/10$1,021
Travelers7.7/10$1,075

Average cost of home insurance in Delaware by coverage amount

The average cost of homeowners insurance in Delaware will also differ considerably based on the amount of insurance you have for your home. Below is the average homeowners insurance quoted rates for five different levels of coverage.

Coverage AmountAverage Cost
$100,000-$200,000$ 907
$200,000-$300,000$ 1,006
$300,000-$400,000$ 1,273
$400,000-$500,000$ 1,219
Greater than $500,000$ 1,667

Average cost of home insurance in Delaware by city

Insurance companies will also price policies differently based on where you live. We found Claymont has the lowest rates in the state with a $690 average annual premium for $100,000-500,000 in coverage. The most expensive area on average is the coastal town of Rehoboth Beach, with an average annual premium of $3,350.

CityAverage Cost
Bear$ 985
Camden Wyoming$ 1,495
Claymont$ 690
Dover$ 1,135
Edgemoor$ 1,574
Felton$ 1,317
Frederica$ 774
Georgetown$ 2,536
Harrington$ 1,216
Hockessin$ 1,032
Middletown$ 946
Milford$ 1,676
Millsboro$ 1,992
New Castle$ 1,899
Newark$ 992
Ocean View$ 1,009
Rehoboth Beach$ 3,350
Rising Sun-Lebanon$ 1,577
Smyrna$ 774
Wilmington$ 985

We selected the 20 largest cities in Delaware by population where customers have submitted quotes with Policygenius. Quotes are based on a coverage amount between $100,000 and 500,000.

The cheapest cities for homeowners insurance in Delaware

Cheapest cities homeowners insurance Delaware

The most expensive cities for homeowners insurance in Delaware

Most expensive cities Delaware homeowners insurance

Guide to homeowners insurance in Delaware

Common causes of home insurance loss in Delaware

Delaware has almost 30 miles of coastline along the Atlantic Ocean, but combined with inlets, bays, and rivers, the state has nearly 350 miles of shoreline. Though the coastline brings tourism and offers recreational opportunities, it can also bring unpredictable weather.

Come summertime, Delaware is vulnerable to thunder and lighting storms, as well as severe tropical storms. Though not a tornado-prone state, tropical storms can result in tornadoes touching ground in Delaware. In August 2020, Tropical Storm Isaias unleashed a record breaking tornado in Delaware, with the twister traveling 29.2 miles across the state. Delaware homeowners may want to consider purchasing windstorm insurance if their policy excludes wind and hail damage.

In the winter months, Delaware residents may experience another type of cyclone - Nor’easter storms. Nor’easters are common in the East Coast and can cause hundreds of thousands of dollars in property damage. The storm’s freezing temperatures are often met with strong winds and heavy snowfall, which can result in ice dams and expensive roof damage, as well as power outages.

Due to the state’s propensity for inclement weather, Delaware residents should consider purchasing a comprehensive replacement cost policy to ensure their home and personal belongings are fully protected.

Does homeowners insurance cover flooding in Delaware?

The most expensive natural hazard in Delaware is flooding, which costs the state on average $3.4 million in property losses per year. Homeowners insurance does not cover flooding in Delaware or any of the other 49 states. State residents can supplement that gap in coverage by purchasing a flood insurance policy.

Flood insurance can typically be purchased through the same insurance company that insures your home. Most flood policies are sold by private companies but administered by the federal government’s National Flood Insurance Program (NFIP). An NFIP flood policy can cover up to $250,00 for the structure of your home and up to $100,000 for personal belongings.

Delaware Department of Insurance

The Delaware Department of Insurance is a valuable resource both for Delaware homeowners purchasing coverage for the first time or for those who are already insured. The DDI website has helpful information about what to prioritize when selecting your coverage, preparing for natural disasters, and buying flood insurance.

What if I can’t get homeowners insurance?

Homeowners insurance companies can cancel your insurance for a number of reasons — maybe the insurance company no longer offers coverage where you live, or maybe they determined your home was too risky to insure after a recent inspection.

If you’re struggling to find coverage, you can get last-resort coverage via a Delaware Fair Access to Insurance Requirements (FAIR) Plan. The Delaware FAIR Plan is an association that provides basic coverage for Delaware residents who are unable to get home insurance on the open market. To qualify for a FAIR Plan, you need to demonstrate that you’ve had at least three unsuccessful attempts to buy insurance from other companies.

Not where you live? We've got you covered, check out our guide to homeowners insurance in your state

About the author

Insurance Editor

Kara McGinley

Insurance Editor

Kara McGinley is an Insurance Editor at Policygenius. She previously worked as a freelance writer and a copywriter for various startups. Her work can be found in Teen Vogue, The Culture Crush, Mask Magazine, and more.

Policygenius’ editorial content is not written by an insurance agent. It’s intended for informational purposes and should not be considered legal or financial advice. Consult a professional to learn what financial products are right for you.

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