Shop homeowners insurance locally
As you shop for homeowners insurance, you'll want to consider your home's location risk and understand how it impacts your coverage needs.
A homeowner living in tornado-prone area, for example, may want to only consider insurance carriers that offer extended or guaranteed home rebuild coverage as a policy option; or carriers that have multi-policy bundling discounts that can help lower your home and auto insurance rates.
Choose your state from the dropdown below to find the best companies, average costs by local area, and better understand what type of insurance you need where you live. Or continue reading our 6-step guide to shopping for home insurance.
Homeowners insurance by state
Shop the best home insurance companies
Policygenius has comprehensive reviews of over 25 home insurance companies, including claim satisfaction rankings from companies like J.D. Power and Consumer Reports.
Below are some of the best homeowners insurance companies rated by Policygenius for a variety of shoppers, including those looking for more affordable rates, discounts for first-time homebuyers, and more.
Company | Policygenius rating | Best for |
|---|---|---|
5.0 out of 5 | Overall | |
4.9 out of 5 | Military families | |
4.8 out of 5 | Widely available coverage | |
4.6 out of 5 | Customer service | |
4.6 out of 5 | High-value homes | |
4.5 out of 5 | Lapse in coverage | |
4.5 out of 5 | Customizable policy options | |
4.5 out of 5 | Comprehensive dwelling coverage | |
4.5 out of 5 | Discounts and policy perks | |
4.5 out of 5 | Easy claims filing | |
4.4 out of 5 | Bad credit | |
4.4 out of 5 | Home sharing | |
4.3 out of 5 | New homeowners | |
4.3 out of 5 | Smart home insurance | |
4.2 out of 5 | High-risk homes | |
Neptune | Not rated | Private flood insurance |
Learn more >> Best homeowners insurance companies in 2023
Where to shop for home insurance
When shopping for homeowners insurance, you’re going to want to compare at least three different insurance companies to make sure you’re getting the best coverage for the best price. With most major insurers, you have a few options when it comes to getting a quote.
Online through the insurance company’s website
Through the insurer’s mobile app (if they have one)
Over the phone
In person at a local office
Online through an insurance marketplace like Policygenius
How to buy homeowners insurance in 6 easy steps
The best way to shop for homeowners insurance is to compare quotes from at least three insurance companies so that you're not missing out on better or more affordable coverage in your area.
With Policygenius, you can compare and buy home insurance in a matter of minutes. Just answer a few brief questions about your house, and our licensed agents will send you several personalized policy options at a price point that suits your needs. You can also learn more about how to buy homeowners insurance by following our detailed list of steps.
1. Learn about how much coverage you need
The first step to shopping for homeowners insurance is calculating how much coverage you need. When you get home insurance quotes, the coverage amounts listed are often estimates — not an exact calculation of coverage you need. To make sure you’re being quoted for the right amount of coverage, consider getting a more accurate estimate of the following:
The replacement cost of your home: The amount of insurance on your house should be equal to its replacement cost — the amount it would cost to rebuild the home from the ground up after a disaster. Insurers often provide their own replacement cost estimate using online estimation tools, but for a more precise calculation, consider hiring a professional appraiser.
The total value of your personal belongings: You’ll want enough personal property coverage to cover the value of all of your stuff, like appliances, furniture, and electronics.
The total value of all of your assets: You should have enough personal liability coverage to cover your entire net worth in case you’re sued.
Your homeowners insurance coverage needs will also depend on your home’s location and the risks (wildfires, hurricanes, tornadoes) where you live. If you live in a high-risk coastal area or region that experiences frequent wildfires, your coverage needs will be different than if you lived somewhere with a more mild climate.
Learn more >> How to calculate homeowners insurance
2. Get familiar with home insurance policy lingo
There are six types of coverages that are in every standard homeowners insurance policy. Understanding how you’re protected by each of the coverage types in a standard policy will be useful when comparing policies.
Dwelling: Covers physical damage to the structure of your home and any attached structures, like a garage or porch
Other structures: Covers physical damage to structures on your property that aren’t attached to the home itself, like a detached garage, guest house, or fencing around your property
Personal property: Covers damage or theft of personal belongings that you own, including furniture, clothes, jewelry, and electronics
Additional living expenses (ALE): If your home is severely damaged or destroyed by a peril covered by your home insurance policy, ALE can cover the cost of temporary lodging and relocation expenses while your house is being repaired or rebuilt
Personal liability: Covers you and your assets from expensive lawsuits if you’re ever held liable for someone else’s injury or property damage
Medical payments: Covers guests’ medical expenses if they’re injured on your property
You’ll also have to choose between three levels of coverage:
Actual cash value: The cheapest option, actual cash value reimburses you for the value of your property minus the cost of depreciation, or wear and tear. This leaves you paying more out of pocket when you file a claim.
Replacement cost value: Most insurers allow you to upgrade to replacement cost value coverage, which reimburses you for the value of your property at today’s prices. This provides larger reimbursements when you file a claim.
Extended replacement cost value: Another optional upgrade, extended replacement cost value coverage reimburses you for the cost to rebuild your home — even if it’s more than your policy limit. This protects you from construction material and labor costs that tend to skyrocket after a natural disaster.
Learn more >> Types of home insurance coverages
3. Gather information about your home
To get an accurate quote estimate, you’ll need to give the insurer information about yourself and the type of property you’re insuring.
Here’s some of what you’ll need to provide when you shop homeowners insurance policies.
Your home’s square footage and roof type (like hip or gable)
The heating type of your home’s appliances (gas or electric)
The renovation history of your home
Whether you have any pets, trampolines, or a pool
Whether it's your primary or second home
Whether you rent it out in the short or long term
The more details you give about your home, the more accurate your quote will be. If you’re simply swapping out policies, most of this information will be available on your old policy. Otherwise, you can find your home’s structural details by searching for your property on your county’s property appraiser website.
4. Compare home insurance quotes
The easiest way to buy homeowners insurance is through a marketplace like Policygenius where you can compare quotes across multiple companies in your area. Once you apply, a licensed expert will reach out with policy recommendations that match your coverage needs and budget. They’ll also nail down any home insurance discounts you qualify for.
We recommend paying close attention to quotes from any insurance companies you already have a relationship with, as they often offer lower rates for existing customers. So if you already have an auto or umbrella insurance policy with a specific carrier, you may get a bundling discount for signing up for home insurance with that same insurer.
Apart from the policy itself, you’ll also want to look into the insurance company’s background. Check to see if the company insuring your house is financially stable, read reviews, and check ratings with third-party sites like AM Best, J.D. Power, and Consumer Reports.
5. Choose your home insurance company & policy
Once you’ve compared quotes, it’s time to select the best home insurance company for your needs. While price is an important factor to consider when making your decision, you should also research the financial strength and customer satisfaction ratings of each company.
This can help ensure the company you choose has the financial means to pay out claims in the wake of a disaster. And that — ideally — your claim filing experience goes off without a hitch.
From there, you can start to think about exactly what coverages you want in your policy. If you have a mortgage, ask your loan officer if the coverages you chose meet the lender’s insurance requirements.
Homeowners insurance doesn’t cover water damage caused by flooding, for example, so you may need to get separate flood insurance if you live in a high-risk flood zone.
There are also several optional home insurance endorsements that can be added to your policy for an additional cost.
Some of the most common endorsements are:
Water backup coverage
Appliance breakdown coverage
Service line coverage
Inflation guard coverage
Scheduled personal property coverage
Extended replacement cost
Guaranteed replacement cost
Flood coverage
Earthquake coverage
When choosing your home insurance coverage limits and policy add-ons, keep in mind that home rebuild costs continue to rise due to inflation and rising construction costs. Because of this, many homeowners don't have enough coverage to fully rebuild their home in the wake of a natural disaster.
According to our Policygenius Home Insurance & Inflation Shopping Survey, just 9% of homeowners increased their home’s coverage limit in the last year to account for these rising rebuild costs.
And 83% of homeowners either don’t have or aren’t sure if they have inflation guard coverage — a crucial coverage feature that automatically increases your home’s coverage limit each year to keep pace with inflation.
Talk to your insurance agent or an expert at Policygenius to ensure you have the right coverages to fully protect your home and belongings from the unthinkable.
Learn more >> Guide to homeowners insurance endorsements
6. Finalize your policy details
You’ve compared quotes, gotten all your most pressing questions answered, selected a policy, and passed your home inspection. Now it’s time to finalize a few policy details.
Choose a deductible. You’ll need to set your home insurance policy deductible, which is the amount you’re responsible for covering on each claim before your insurance will pay out. A higher deductible means a lower premium, and a lower deductible means higher premiums.
Determine how your premiums are paid. It's common practice for lenders to require that premiums for the year be paid in full ahead of closing on your mortgage. If insurance and property taxes are paid through an escrow account set up by your lender, this payment will likely be part of your mortgage closing costs.
Set your policy dates. Lastly, you’ll choose your policy period, which is when your home insurance starts and ends. If you’re switching homeowners insurance providers, a Policygenius agent can cancel your old policy, set an effective date for your new one, and inform your loan officer of the switch.
Once your billing and policy details are set and your lender approves of the policy, you’re good to sign on the dotted line, pay your first premium, and activate your homeowners insurance. At this point, you'll receive your homeowners insurance declarations page that lists out basic details about your policy and coverage amounts.
4 mistakes to avoid when buying homeowners insurance
When shopping for homeowners insurance, here are a few common pitfalls to avoid:
Focusing on costs rather than coverage levels. Keep in mind that the cheaper your policy, the more you’ll have to pay out of pocket if you file a claim.
Not understanding what is and isn’t covered in your policy. Read through your policy to make sure you’re properly covered in the event of a wildfire, hurricane, earthquake, or flooding. Most insurance companies require additional coverage endorsements for damage caused by natural disasters.
Skimping on personal property damage coverage. Only 49% of homeowners say they have an up-to-date home inventory. [1] It’s important to log your belongings with receipts and photos. You should also make sure to include items like heating and cooling systems, appliances, home office equipment, and fine jewelry when tallying your personal property coverage limits.
Forgetting to re-shop your policy each year. Many insurers raise rates each year at your time of renewal due to inflation and changes to the value of your home. Our licensed agents at Policygenius can help you re-shop your policy each year to make sure you’re still getting the most bang for your buck. And if you can save money by switching carriers, they'll handle all of the paperwork for you — even if you have an escrow account.
How do home insurance companies determine your premium?
The average cost of home insurance is $1,754 per year, or around $146 a month. Your home insurance premium is directly tied to your likelihood of filing a claim. That’s why the age of your home and location play a pivotal role in how much you pay each month. For example, you’re more likely to file a claim if your home is older or you live in an area prone to flooding, which typically equals higher rates.
Here are a few other factors insurance companies consider when deciding your premium:
Claims history. If you have multiple insurance claims on your record in the past five years, insurers will think you’re more likely to file a claim, which spells higher rates.
Home’s building materials. Your home’s building construction, roof type, heating type, and the condition of your home all play a role in your insurance premiums.
Credit score. Insurers look at your credit score when determining your rate. Statistically, people with a lower insurance score are more likely to file a claim.
Neighborhood crime rate. If you live in an area prone to break-ins or vandalism, you’ll see higher rates to match that higher risk.
Owning a pool, trampoline, or dogs. Most insurance companies charge higher premiums if you have a pool, if you have a trampoline, and even if you have certain dog breeds since your home poses a greater risk of accidents happening.
The average cost of homeowners insurance is $1,754 per year for $300,000 in dwelling coverage, according to our analysis of home insurance rates from across the country.
Below are how different factors can raise that rate.
High-risk factor | Average annual cost | Percentage difference from national average |
|---|---|---|
Aggressive dog | $1,986 | 4.58% |
Pool | $2,002 | 5.42% |
Poor credit | $3,645 | 91.94% |
1 claim | $2,101 | 10.64% |
3 claims | $2,916 | 53.55% |
5 claims | $4,407 | 132.07% |
75-year-old home | $1,931 | 1.69% |
100+ -year-old home | $1,956 | 3.00% |
20-year-old roof | $1,913 | 0.74% |
Frequently asked questions
How soon before closing should I get homeowners insurance?
To be on the safe side, start shopping for homeowners insurance around three weeks to a month ahead of your closing date. Most mortgage lenders will require proof of homeowners insurance at least three business days prior to closing on the home, and it’s not unusual for lenders to require this documentation as early as 15 days prior to closing.
→ Learn more about how long it takes to get homeowners insurance
How do I choose homeowners insurance?
When shopping for homeowners insurance, you should compare at least three different insurance companies. This will help you get a better feel for which companies offer the best coverage options at an affordable price. The agents at Policygenius can help you compare multiple insurance companies to help find the best insurance company for you and your home.
Is it worth shopping around for home insurance?
Yes, comparing different homeowners insurance companies will help you ensure that you're getting the best deal possible for your coverage needs.
Does shopping for homeowners insurance hurt your credit?
Typically no, because home insurance quotes are a soft pull, not a hard pull (which does affect your credit). However, your credit score can affect how much you will pay for your home insurance. Generally, if you have a higher credit score you will see lower rates and vice versa.
What is most important when shopping for homeowners insurance?
When shopping for home insurance, it's important to compare multiple different companies to make sure you're getting the best policy for the best price. It's also important to learn about how much coverage you need. That means you'll want an estimate of your home's replacement cost — meaning the rebuild value of your home — the cost of your belongings, and an estimate of your the value of your total assets. The agents at Policygenius can help you find this information to make sure you're getting an accurate estimate of your coverage needs.
