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Delaware is a land of wonder. We have pristine beaches combined with beautiful, friendly and fun coastal towns. When the day at the beach is done, head out shopping at a Delaware beach boutique, art gallery or enjoy a five star meal at one of our many cutting-edge restaurants. Remember, in the "First State" there is no sales tax so the price you see is the price you pay, it's the best way to shop.
While beaches are a big part of Delaware life, we have much more to offer. Chateau Country is dotted with regal mansions and lush gardens while our numerous wildlife refuges teem with birds and natural beauty.
Delaware is a great place to visit and an even better place to live.
Delaware Homeowner Facts
Delaware is one of the smallest states in the Union, ranking 45th with a population of 945,934. While Delaware is also one of the smallest states as far as square mileage, it is the second smallest in the country, it is densely populated, coming in sixth in population density. There are only three counties in the great state of Delaware, New Castle, Kent and Sussex with New Castle being the most industrialized while the other two are more agricultural.
There are currently 3,977 households per zip code with an average of two people per house. Even though Delaware is small, it packs a big punch with median household income, it ranks 11th with a median income of $57,954. Zillow puts the median home value in Delaware at $205,300, which is a slight raise of 0.3% from last year. Zillow predicts that home values will jump up 1.4% in the next year, which makes it a great time to buy.
House costs can vary greatly depending on which part of Delaware you choose to live. A home in Hockessin will set you back an average of $367,800 while Wilmington is much more affordable at a median price of $115,600.
Homeowners Insurance in Delaware
The good news is that homeowners insurance in Delaware is very affordable according to recent studies, coming in at an average of $678 a year while the U.S. average is $1,034. To save up to 40% on your premium, contact us today to help you compare and save.
There are ways to drive that cost even lower. Bundling your car insurance with your homeowners coverage can result in a discount of up to 20 percent and shopping your coverage on a regular basis is a great way to make sure you are getting the best deal on all of your insurance needs.
If you live in one of our beautiful coastal communities, such as Lewes, Bethany Beach or Fenwick Island, adding storm shutters and a sprinkler system can result in a big discount on your homeowners premium.
Our site makes it easy to compare numerous insurers quickly (up to 12). Simply fill out our quick and easy online quoting application and we will begin comparing rates for the most competitive prices in Delaware.
Factors to Consider in Delaware
Crime rates will always have an impact on a homeowners premium and unfortunately, Delaware does have an issue with crime, especially Wilmington. The city of Wilmington has a population of 71,000 and a violent-crime rate of 1,625 per 100,000 people according to the FBI, which is significantly higher than the national average of 368 per 100,000.
It's not just crime that can cause problems in Delaware, natural disasters such as hurricanes can be an issue, especially in the coastal towns. Depending on where your home is located, flood insurance may be necessary in addition to homeowners coverage. Our shopping process can help you bind additional coverages like flood insurance so you get the coverage you need fast.
Damage caused by flooding is not covered by a standard homeowners policy and if you live in a flood zone your lender will require a separate flood policy. Before purchasing a home be sure to get an insurance quote so there are no surprises when it comes time to close on your new house.
Regardless of whether you are moving to Dover, Wilmington, Brookside, Glasgow or any of our other beautiful cities, you are going to need homeowners coverage, and possibly flood insurance. We can help you find the perfect insurance policy for your home. We search dozens of national insurers such as Nationwide, Progressive, Titan Insurance, Safeco Insurance, Liberty Mutual Insurance, The Hartford and many more.
Average Homeowners Insurance Premiums in Delaware
With over 95% of all Americans are known to have homeowners insurance coverage, it's important to know what Delaware homeowners are paying on average. Did you know that the average homeowners insurance premium in Delaware is $907? Delaware is now ranked 44 in the country. The country wide average for homeowners in the United States is $1,311. This means the average home insurance premium in Delaware is 30.82% less than the national average.
|Year||Average Annual Premium||Average Monthly Premium||State Rank (Overall)|
|2020||$907 (-0.1%)||$ 76||44|
|2019||$908 (4%)||$ 76||43|
|2018||$873 (4.69%)||$ 73||45|
|2017||$833 (2.06%)||$ 69||45|
|2016||$816 (4.51%)||$ 68||45|
When we combine the state averages over the last decade, the Delaware overall average is estimated to be around $784.00. Our homeowners insurance quoting and rating process helps you compare homeowners insurance quotes, coverages and premiums. Delaware current state rank compare to the rest of the country is #44. Consider shopping your Delaware home insurance with us so we can help you save up to 40% or more on your policy.
Delaware Homeowners Insurance News & Information
Florida Homeowners Advance From Citizens into Private Companies Posted on Tuesday 5th December, 2023
Homeowners Choice Property and Casualty Insurance Co. has assumed approximately 53,750 policies from Citizens Property Insurance Corp., Florida’s state-backed insurance company, the parent company says in a Tuesday news release. Homeowners Choice is owned by HCI Group Inc., a holding company with operations in homeowners insurance, information technology services, real estate and reinsurance. Homeowners Choice […]
North Carolina Joint Underwriters and Wind Pool Map Explained Posted on Thursday 30th November, 2023
North Carolina is a lovely state to call home. Our state is packed with beautiful cities, museums, restaurants and of course, some of the loveliest beaches in the country. Unfortunately, if you live in one of our amazing coastal southern cities such as Ocean Isle Beach, Holden Beach, Oak Island Beach, Calabash, Bald Head Island, […]
Did you know? Your Home Insurance Doesn’t Cover… Posted on Wednesday 29th November, 2023
While homeowners insurance covers a variety of perils and protects your home and personal possessions, it does come with a number of exclusions and coverage gaps that can result in you having to cover the cost of certain damage out of pocket. Let’s have a quick look at what your homeowners policy does and doesn’t […]
2024 Homeowners Insurance Outlook Receives Negative Rating Posted on Tuesday 21st November, 2023
The insurance news for 2024 is certainly not great. Experts expect that extreme weather and increasing costs will push up insurance costs and make insurance companies more selective when deciding where they will write policies. Recently, credit rating agency AM Best downgraded the entire home insurance industry from stable to negative. According to Richard Attanasio, […]
What Is the 80/20 Rule In Homeowners Insurance? Posted on Wednesday 8th November, 2023
If you are purchasing a home, your lender will require that you carry homeowners insurance to protect their investment in your home. Homeowners coverage will help cover the cost of repairing or replacing your home if it is damaged or destroyed by a covered peril. Covered perils can include items such as a hurricane or […]
Delaware Housing & Real Estate Data
|Total Housing Units||405885|
|Occupied Housing Units||342297|
|Vacant Housing Units||63588|
|Vacant Housing Units for Rent||11399|
|Vacant Housing Units Rented Not Occupied||676|
|Vacant Housing Units For Sale||5985|
|Vacant Housing Units Sold Not Occupied||1011|
|Vacant Housing Units For Seasonal Occasional Use||35939|
|Vacant Housing Units All Other Vacants||8578|
|Housing Units Homeowner Vacancy Rate Percent||2.4|
|Housing Units Rental Vacancy Rate Percent||10.6|
|Housing Tenure Occupied Units||342297|
|Housing Tenure Occupied Units Owner Occupied||246724|
|Housing Tenure Occupied Units Owner Occupied Population||636531|
|Housing Tenure Occupied Units Owner Occupied Averge Household Size||2.58|
|Housing Tenure Occupied Units Renter Occupied||95573|
|Housing Tenure Occupied Units Renter Occupied Population||236990|
|Housing Tenure Occupied Units Renter Occupied Average Household Size||2.48|
Understanding Delaware Homeowners Insurance
When shopping for Delaware homeowners insurance quotes you should be aware of the various types of insurance policies that are available in your area:
- HO-3: This is the most common type of homeowers policy. This policy type protects your home against all perils, except ones that are specifically excluded. In most cases earthquake and flood damage are excluded.
- H0-6: This policy type is specifically written for condos or co-ops. If you own a condo or live in a co-op building this type of policy is a necessity. A HO-6 policy covers both your personal belongings and the structural parts of the building that you own. There are 16 disasters listed on a typical policy that HO-6 protects against.
- HO-4: If you are looking for Delaware renters insurance, a HO-4 policy is a great option. Renters insurance will cover your contents as well as offer liability coverage in the event a person is injured in your apartment.
While other types of policies exist, these are the most common ones. A HO-2 is a more basic policy that offers reduced coverage levels and a HO-5 is a high-end policy that offers increased protection.
If you are shopping for a new home in Delaware, homeowners insurance is a must do. We can help you find the perfect policy for your new home, regardless of whether you need a standard HO-3 policy, HO-6 or renters insurance, our site makes shopping for homeowners insurance quotes easy. Visit our online quoting application today and let us help you shop and compare up to 12 different Delaware rates and coverage options.