Delaware Home Insurance Quotes

Tuesday, December 13 2016 By Jennifer Cramer

The Diamond State is the birthplace of Vice President Joe Biden, Henry Heimlich, inventor of the Heimlich maneuver, and Dr. Oz. Though The First State is technically the second-smallest state, Delaware is home to some large homeowners insurance risks that you should be aware of whether you’re shopping for home insurance or already have it.

Average Delaware Homeowners Insurance Rates

Delaware has some of the lowest home insurance rates in the country. According to the most recent available data from the Insurance Information Institute, in 2013, the average cost of home insurance in the state of Delaware was $709, much lower than the national average of $1,096. Only six states have lower average home insurance rates than Delaware.

Delaware Average Annual Homeowners Insurance Rates
  2012 2013
Delaware Annual Average $678 $709
Delaware Price Per Month $56 $59
US Annual Average $1,034 $1,096
US Cost Per Month $86 $91
National Rank 45 45

Compare Home Insurance Quotes in Delaware

Choosing a homeowners insurance company in Delaware should be easier. Actually, it’s already easy; you could just go with whichever company your mortgage lender recommends, but you probably won’t get the best rates that way. The key to finding the best home insurance rates in Delaware is to compare quotes from multiple companies.

Top 10 Delaware Home Insurance Companies

Last year, these were the 10 most common home insurance companies reported by QuoteWizard users living in the state of Delaware. Out of the 3,392 Delaware homeowners that used QuoteWizard to request insurance quotes last year, 155 had no home insurance.

  1. Nationwide
  2. Liberty Mutual
  3. Allstate Insurance
  4. Geico
  5. Progressive Casualty
  6. USAA
  7. AAA Insurance Co.
  8. 21st Century Insurance
  9. Travelers Insurance
  10. Hartford Insurance Co.

Why contact every individual company in Delaware that you want a homeowners quote from when you can just answer a few questions about your home and desired coverage, and get competing quotes from agents? Save time and money with QuoteWizard.

Top 10 Delaware Home Insurance Company Market Share

Source: Insurance Information Institute
Rank Company Direct Premiums Written (in thousands) Market Share
1 Nationwide Mutual Group $32,665 15.0%
2 Liberty Mutual $22,128 10.1%
3 Allstate $14,507 6.7%
4 USAA Insurance Group $11,597 5.3%
5 Travelers Companies Inc. $10,760 4.9%
6 Chubb Corp. $7,165 3.3%
7 Donegal Insurance Group $6,375 2.9%
8 Hartford Financial Service $6,213 2.9%
9 Klinefelter Insurance Group $4,571 2.1%

Financial Strength Ratings of Top Delaware Home Insurers

Source: A.M. Best (Ratings as of 8/21/2015)

  • Nationwide Mutual Group:  A+
  • Liberty Mutual: A
  • Allstate: A+
  • USAA Insurance Group: A++
  • Travelers Companies Inc.: A+
  • Chubb Corp.: A++
  • Donegal Insurance Group: A
  • Hartford Financial Services: A+
  • Klinefelter Insurance Group: NR

Rating Guide

Delaware Property & Casualty* Insurance Company Market Share

Source: National Association of Insurance Commissioners
Rank Company Direct Premiums Written (in thousands) Market Share
1 Nuclear Electric Insurance Limited $203,119 9.5%
2 Nationwide Mutual Group $197,415 9.2%
3 Liberty Mutual $145,909 6.8%
4 American International Group $113,375 5.3%
5 Geico $109,722 5.1%
6 Travelers Companies Inc. $75,250 3.5%
7 Allstate $60,866 2.9%
8 United Service Automobile Assurance Co. $60,129 2.8%
9 Progressive Group $59,131 2.8%
*Represents both home and auto insurance

Home Insurance Rate Factors

Many different factors come into play when insurance companies calculate the cost of homeowners insurance. Some, like the age of your home, are within your control. Others, like crime rates or natural disasters, are beyond your control. Here are some of the factors that affect the cost of homeowners insurance in Delaware.

Average Home Listing Prices

Home prices can greatly affect the cost of insurance in a state. A higher average

home price generally means higher premiums in that state. For Delaware, the average listing price is $283,740 as of July 2015, almost identical to the national average of $284,748.

Average Burglary Rates

Burglary is a serious and sometimes violent property crime. States with higher average burglary rates generally have higher average home insurance premiums, because the likelihood that someone will need to file a claim is higher. According to data from the FBI Uniform Crime Report, in 2013, Delaware’s average burglary rate was 662.3 per 100,000 people, which is about the same as the national average of 610.0 per 100,000.

States with more law enforcement per capita tend to be safer than states with fewer policemen and women. In Delaware, there are 166.6 law enforcement personnel per 100,000 total citizens. This is by far the highest of any state, more than four times the national median of 32 per 100,000.

Home Insurance Hazards

Delaware’s weather is relatively mild, considering it sits between the Mid-Atlantic region and the New England region. However, occasionally extreme winters and summers can bring major homeowners insurance hazards.

Cold, but variable winters: Despite its small size, the annual snowfall in Delaware varies greatly, even just from Wilmington to Newark. In some parts, the average is as low as 7 inches per year, but in others, it’s as high as 20 inches per year, while average winter temperatures throughout the state are below freezing. When temperatures drop, people crank the furnace, increasing energy use and trapping in moisture that may lead to mold development. In freezing temperatures, pipes can crack and leak, and other structures can become stiff and brittle as the cold contracts them. This is one of the most common causes of home insurance claims in the winter.

Hot summers: As with winter conditions, southern Delaware is more moderate than northern Delaware. Also typical of the region are hot, humid summers. Average summer high temperatures are about 87 degrees, often with humidity above 80%. This uncomfortable combination makes it feel even hotter, as the human body has a hard time cooling itself down. During exceptionally hot summers, power outages may occur as many people crank up the air conditioning. Heat and humidity are especially taxing for young children and adults over 65. Luckily, Delaware summers cool down below 80 by September.

Rain and thunderstorms: Precipitation is fairly uniform all year-round in Delaware. Newark averages 108 days of rain per year, while Wilmington averages 118 days. This means that rain occurs about once every three days. This trend is present almost the entire year--March sees 10 to 11 days of rain, and November sees 9 to 10. This constant but mild precipitation can be nuisance, but thunderstorms can a real problem.

Thunderstorms involving heavy rain with thunder and lightning are common during the summer months. Severe thunderstorms with lightning can cause fires, but generally, thunderstorms can knock down street signs and cause damage to homes. In severe cases, when the rain is especially heavy, thunderstorms can cause flooding. While damage from severe thunderstorms or fire is covered by standard home insurance policies, the only way to obtain flood insurance is through the National Flood Insurance Program. Learn more about the NFIP here.

Delaware Office of the Insurance Commissioner

Insurance Commissioner:
Karen Weldin Stewart
Insurance Hotline:
(302) 674 – 730
Office Hours:
Monday - Friday
9:00 am to 5:00 pm
File a Consumer Insurance Complaint
Complaint Page

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Category: Insurance Agency

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