Cheap Home Insurance 2024

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Cheap home insurance: Home insurance helps protect you from unforeseen financial situations if something happens to your home, such as storm damage, a blaze, or burglary. Are you a new homebuyer looking for cheap home insurance? Or are you tired of paying high premiums and now shopping around for a more affordable home? Well, you don’t need to worry.

When buying insurance for your home, you don’t need to choose between an affordable rate and good coverage. This is because cheap home insurance can also have great coverage. In recent times, many companies have offered various coverage and discounts that can help you save money.

Cheap Home Insurance

To locate the best cheap homeowner’s insurance company for your needs, you will need to get quotes from different companies and compare them. Focus on not only the cost but also the coverage amount available, the company customer service rating, the deductible, and financial strength. We have analyzed various home insurance companies to help you find a cheap policy to cover your home.

Best Cheap Home Insurance

Here is everything you need to know about the 10 cheapest homeowners insurance companies on our list:


Progressive offers both its home insurance plans and options from other companies. When you request a quote on their website, they search for deals from various insurers to find you the best mix of affordability and protection.

The coverage you get depends on the insurer you pick. You might add extra protection for water damage or personal injury claims, like slander or libel. Discounts to consider: combining home and auto insurance; choosing electronic documents; and owning a new home.


Erie offers some of the lowest rates among home insurance companies, making it a popular choice for those seeking affordable coverage. They provide various options, like service line protection and sewer backup coverage, so you can customize your policy. With over 13,000 local agents in 12 states, getting a quote and purchasing a policy is easy. Erie also scores well in customer satisfaction, giving new homeowners peace of mind. They have an A+ (superior) financial strength rating from AM Best.

State Farm

State Farm earns a strong rating of 89 out of 100 points based on our evaluation. They offer some of the most affordable home insurance premiums, averaging $426.35 less than the industry average. Despite the low cost, State Farm maintains top-notch quality, boasting an A++ rating from AM Best and receiving fewer complaints than most insurers. As the largest home insurer in the country, State Farm stands out for its financial stability and wide range of coverage options.

With local agents nationwide, customers can receive personalized assistance either over the phone or in person. Alternatively, everything can be managed online through their website, including bill payments, claim filing, and obtaining quotes. Discounts are available for bundling home and auto insurance, as well as for having protective devices like fire or burglar alarms and impact-resistant roof shingles.


Nationwide is one of the best homeowners insurance companies, and it’s also one of the more budget-friendly options available. With a well-known reputation, Nationwide offers various ways to save on coverage.

You can get discounts for having protective devices like smoke detectors, fire alarms, and burglar alarms, along with savings for owning a new home or using smart home technology. Plus, Nationwide offers other insurance types like auto insurance, making it a great choice for bundling policies and increasing your savings.


This company provides homeowners insurance exclusively to active military members, veterans, and their families. USAA typically offers coverage for your belongings based on their replacement cost. This means they’ll pay enough for you to buy brand-new replacements if your items are stolen or destroyed without considering depreciation. Unlike some companies, USAA doesn’t charge extra for this type of coverage.

USAA also covers military uniforms without a deductible and doesn’t apply a deductible if your belongings are damaged or destroyed during wartime.

You can inquire about discounts for smart-home devices, loyalty, and bundling multiple USAA policies.


Auto owners provide home insurance in 26 states through independent agents. Their policies offer flexibility, including options for guaranteed home replacement, equipment breakdown, and identity theft coverage. While their average premium isn’t the lowest, they do offer discounts for multiple policies, water shut-off systems, and being mortgage-free. Auto owners have an excellent financial strength rating from AM Best. Top of Form


According to our assessment, Allstate earns 88 out of 100 points and is $98.88 cheaper than the national average. Along with standard coverage, Allstate stands out for its customizable options. You can protect unique items like musical instruments or sports equipment. Flood insurance is also available. Allstate provides eight discounts and Claim RateGuard, ensuring your premium stays stable even after filing a claim, usable once every five years.


Travelers’ typical premium sits just under the national average, but its extensive coverage options might outweigh its average rate. They provide diverse coverage choices, such as protection for jewelry, identity fraud, and eco-friendly homes. Additionally, Travelers offers various discounts, including bundling home and auto policies, having a green home certification, and maintaining a loss-free record.

Cincinnati Insurance 

Cincinnati Insurance is a smaller provider of homeowners insurance with competitive rates in many states across the U.S., excluding Alaska, Louisiana, Mississippi, Oklahoma, and South Dakota. They offer various enhancements to customize your policy, such as identity theft protection, personal cyber protection, and earthquake coverage.

American Family

The insurer charges an average of $2,740.93 each year. With the MyAmFam app, you can easily file claims and handle your policy online. Their website offers helpful resources like coverage details, discounts, and how to locate a nearby agent.

American Family provides customizable home insurance policies and additional coverage for equipment breakdown, flash floods, home renovation, short-term rental, identity protection, and credit monitoring.

To find the cheapest homeowners insurance, you can speak with a local agent with a brick-and-mortar location or captive agents. You can also visit the listed insurer’s website and make use of their online quoting tools. Compare their quotes and choose the one that offers the best and most affordable coverage for your needs.

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