Cheapest Home Insurance Companies in 2026
No single company is cheapest for everyone. Rates vary by state, home characteristics, and your personal risk profile. This table shows national average premiums for $300,000 dwelling coverage as a starting point for your comparison shopping.
12 Home Insurance Companies: Average Premiums and Ratings
| Company | Avg Annual | Avg Monthly | Availability | J.D. Power | AM Best |
|---|---|---|---|---|---|
USAA Military only | $1,786 | $149 | Military only | 884/1000 | A++ |
State Farm | $1,812 | $151 | Nationwide | 829/1000 | A++ |
Erie Insurance | $1,850 | $154 | 12 states | 856/1000 | A+ |
Amica Mutual | $1,900 | $158 | Most states | 869/1000 | A+ |
Auto-Owners | $1,950 | $163 | 26 states | 839/1000 | A++ |
American Family | $2,200 | $183 | 19 states | 831/1000 | A |
Nationwide | $2,100 | $175 | Nationwide | 815/1000 | A+ |
Travelers | $2,150 | $179 | Nationwide | 800/1000 | A++ |
Allstate | $2,300 | $192 | Nationwide | 815/1000 | A+ |
Liberty Mutual | $2,350 | $196 | Nationwide | 795/1000 | A |
Farmers | $2,400 | $200 | Nationwide | 800/1000 | A |
Progressive | $2,574 | $215 | Nationwide | 800/1000 | A+ |
Average premiums based on $300k dwelling coverage with standard HO-3 policy. Sources: NerdWallet, Bankrate, Insurify 2026 data. J.D. Power scores from 2024-2025 U.S. Home Insurance Study.
Company Details
Military members and families only. Consistently ranked highest for satisfaction.
Largest US insurer. Local agents in most markets. Very strong financial backing.
Available in Mid-Atlantic, Midwest, and Southeast. Very high satisfaction scores.
Policyholder-owned mutual insurer. Exceptional customer service ratings. No agents.
Independent agent model. Competitive in Midwest and Southeast markets.
Strong bundling discounts (up to 40%). Midwest focus with growing footprint.
Solid mid-range pricing. SmartRide program. Strong financial stability.
High financial strength. IntelliDrive available. Strong commercial lines reputation.
Lots of discount options. Large agent network. Higher average premiums offset by discounts.
Advertises significant bundling savings. Pricing can vary widely by location.
Multiple coverage options. Smart Plan Home program. Above-average pricing in many markets.
Uses third-party underwriters in some markets. Known for auto; home pricing is higher.
What "Cheapest" Really Means
Cheapest varies by state
The cheapest insurer for a Florida coastal home is completely different from the cheapest for an Idaho ranch house. State-specific rates can flip the national rankings entirely. Always get quotes in your specific state rather than relying on national averages.
Financial strength matters
Insurance is a promise to pay when things go wrong. An insurer's AM Best rating reflects their financial strength and ability to pay claims. Look for A or higher. An insurer with an A++ rating at slightly higher premium is a better deal than an A- insurer at the absolute lowest price.
Compare identical coverage
Premium comparisons are only meaningful when coverage levels are identical. Compare the same dwelling amount, same deductible, same liability limits, and same endorsements. A lower quote with a higher deductible or lower liability limit is not actually cheaper when you factor in your out-of-pocket risk.
Get 3-5 quotes at every renewal
Insurers do not reward loyalty with lower prices. Studies consistently show that shoppers who get multiple quotes at renewal save 15 to 30% compared to those who auto-renew. Prices within the same market can vary by 30 to 50% between carriers for identical coverage.