The Best Delaware Home Insurance Companies
Located along the Atlantic Ocean, Delaware is a tiny state of coastal towns and bustling businesses. It’s also home to the historic Delaware River that George Washington famously crossed in 1776.
Homeowners in the region must take flood dangers into account when searching for home insurance, as the beachside state is prone to rising waters. In 2018, Delaware had $1,197,700 of flood insurance in force.
Hurricanes are also common in the Mid-Atlantic region, so homeowners will need to pay close attention to what perils are covered on their policy.
Residents in the area have quite a few home insurance options. We weeded through the competition to find the best Delaware home insurance companies to fit the needs of most homeowners in the market for a new policy.
The top home insurance companies in Delaware
Home insurance isn’t one-size-fits-all. Different homeowners will have different insurance needs. Keeping this in mind, we focused on reliable customer satisfaction and valuable discounts that help homeowners located in Delaware.
Nationwide
This provider is a good option for Delaware residents due to the valuable discounts and coverages offered to homeowners in the state. Nationwide offers discounts for protective devices, new home purchases, gated communities, prior insurance and for bundling policies.
Standard policies from Nationwide include coverage for the dwelling, other structures and personal belongings. It offers an optional coverage called Brand New Belongings, which ensures damaged or destroyed personal belongings are replaced with new items. Nationwide also offers insurance for cars, condos, motorcycles, life, pets, RVs and more.
State Farm
This provider is popular among Delaware homeowners for its customer service and affordable rates. The J.D. Power 2019 Home Insurance Study ranks State Farm 4 out of 5 in overall customer satisfaction. State Farm’s standard policies include freezing pipes, sewer backup and snow Hurt, which are important to protect against water damage in Delaware.
State Farm also has local agents in the region, and the provider’s website is full of helpful tools, such as its Simple Insights page, which gives tips into several different topics, from insurance to banking. State Farm also offers insurance for cars, boats, life, health, disability and almost every kind of dwelling.
Liberty Mutual
Liberty Mutual stands apart with stellar customer resources, including a 24/7 claims hotline for policyholders. This provider also offers a robust mobile app that allows people to take pictures of damage and track claims. Liberty Mutual has many discounts available on its home insurance policies.
Discounts include newly purchased homes, purchasing policies online and bundling home insurance with other kinds of Liberty Mutual insurance. This provider advertises savings of “up to $842 on customized auto and home insurance” for Delaware residents. Liberty Mutual also offers insurance for businesses, boats, cars, condos, life, renters and more. The company offers flood insurance through a partnership with the National Flood Insurance Program.
Allstate
Allstate’s easy-to-use services and online tools make it a solid choice for Delaware’s first-time homeowners. This provider’s standard policies come with protections for the dwelling, other structures, personal property, liability, guest medical and additional living expenses.
Allstate’s policies also come with valuable features, including a claims guard that keeps your premium from increasing after a claim, claims-free rewards and money off the deductible for each year without a claim. This provider also offers insurance for businesses, cars, life, identity theft, motorcycles, roadside assistance and more.
| Provider | AM Best | BBB | J.D. Power |
| Nationwide | A+ | A+ | 2 out of 5 |
| State Farm | A++ | A | 4 out of 5 |
| Liberty Mutual | A | A+ | 2 out of 5 |
| Allstate | A+ | A+ | 3 out of 5 |
Methodology
To find the best home insurance companies in Delaware, we started by looking at the provider ratings from professional organizations, including AM Best, Better Business Bureau, and J.D. Power. Next, we sorted through which coverages and discounts each company has available in the area and how much those features will aid Delaware homeowners. Finally, we measured customer satisfaction with each provider to find the best of the best in the state.
Average homeowners insurance cost in Delaware
The average annual cost of homeowners insurance in Delaware is $833. Compared to the national average of $1211, Delaware homeowners can expect to pay less for home insurance than in many other states.
We checked out home insurance quotes based on a general profile of a 30-year-old single male living in a 1200 sq/ft, single-story home built in 1960, located in Wilmington, Delaware.
Nationwide quoted coverage at $61.23 monthly. Allstate quoted monthly rates at $85 for basic, $116 for standard and $128 for enhanced. State Farm and Liberty Mutual both require social security numbers to receive a quote. Keep in mind these quotes are based on a general profile, and the actual rate you receive will be based on individualized factors.
| State | State Rank | Average Annual Premium |
| Florida | 2 | $3,575 |
| Washington | 44 | $854 |
| Delaware | 45 | $833 |
| Arizona | 46 | $825 |
| Oregon | 51 | $677 |
| National Average | $1,211 |
Delaware ranks 45th most expensive in the country for an average annual cost of homeowners insurance premium. The lower average cost in Delaware may be due to the relatively low property crime rates and a lack of natural disasters, aside from flooding and hurricane damage.
Home insurance coverage options in Delaware
Home insurance coverages will change from provider to provider, but here are a few of the common coverages included in most home insurance policies:
- Dwelling – This coverage pays for damage to the main space of the home.
- Other structures – This coverage pays for damage to other structures on the property, such as a carport, detached garage or fence.
- Personal belongings – This coverage pays for damage to the items within the home.
- Liability – This coverage protects the owner from liability if someone is injured on the insured property and sues the owner.
- Loss of use – This coverage pays for costs associated with living somewhere else while the home is under repair.
Anyone searching for homeowners insurance in Delaware should pay close attention to the coverage limitations associated with water Hurt and hurricanes, as the coastal region sees its fair Part of both.
Common causes of home insurance losses in Delaware
Delaware sustained damage in three of the 10 most significant flood events, measured by National Flood Insurance Program payouts. In 2016 alone, the space recorded 176 flood-based insurance claims.
According to the Insurance Information Institute, in 2019, 11,027 single-family homes in Delaware were at risk from a Category 1 storm, and 67,320 single-family homes in Delaware were at risk from a Category 4 storm.
Although many home insurers Hide limited water damage, most do not cover flood damage. Delaware homeowners should look to the National Flood Insurance Program for reliable flood coverage.
Frequently asked questions
What is the best homeowners insurance in Delaware?
The best homeowners insurance in Delaware depends on your individual needs. To find the best match, make sure to shop around and get a few different quotes from providers to compare.
How do I get homeowners insurance in Delaware?
Homeowners insurance can be found in Delaware by visiting a home insurance provider’s website, going to a provider’s location in-person or calling the provider over the phone.
Is homeowners insurance required in Delaware?
Delaware does not require homeowners insurance, but many mortgage lenders require it before agreeing to finance a home.
Where can I find out more about homeowners insurance in Delaware?
Anyone interested in learning more about home insurance should check out the Delaware Department of Insurance’s guide to home insurance.
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SRC: https://www.bankrate.com/insurance/homeowners-insurance/in-delaware/
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