Best Cheap Homeowners Insurance

Amica is the Best Cheap Homeowners Insurance

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Cheap homeowners insurance is homeowners insurance tailored to homeowners on a budget. It will offer what you need at a discounted price without any add-ons that you don’t need. Homeowners insurance protects against losses if your home or personal property is damaged or destroyed by fire, weather, theft, or other covered disasters. It also covers your personal liability for injuries to other people or their property while they’re on your property.

The best cheap homeowners insurance will be easy to get a quote and apply for and will offer coverage in multiple states. It will have overall positive reviews, a longstanding industry reputation, and years of experience. It will also offer multiple policies with varying coverage, competitive rates, and numerous discounts.

Best Cheap Homeowners Insurance of 2023

Best Overall : Amica

Amica Mutual Insurance
  • No. of Policy Types: Multiple
  • Coverage Limit: Varies
  • Price: Contact for quotes
Why We Chose It

Amica was chosen as the best overall cheap homeowners insurance due to its competitive rates, discounts, and high ratings for customer satisfaction, stability, and reputation.

Pros & Cons
  • High ratings and low consumer complaints

  • Platinum Choice Home package

  • Option to earn dividends 

  • Confusing policy options (i.e., traditional vs. dividend policy)

  • Rates set using credit-based insurance scoring

  • Bugs in the mobile app


Amica Discounts

You can save up to 30% when you combine home with your auto, condo, renter’s, life, or umbrella policies:

  • Loyalty discount (after two years)
  • Claims history discount (when you’ve had no claims in the past three years)
  • Autopay discount
  • E-Discount (when you sign up to receive bills and information electronically)
  • Alarm system discount (for burglar alarms, sprinkler systems, and fire alarms)
  • Automatic detection device discount
  • New home credit

Amica Coverage Options

In addition to standard home insurance coverage options, you can add these coverage options to your policy:

  • Dwelling replacement
  • Valuable items
  • Personal property replacement
  • Catastrophic coverage
  • Home business
  • Platinum Choice Home Package (includes standard coverage plus business, computer, credit card, and water backup coverage)

Read the full review: Amica Homeowners Insurance

Best for Discounts : Allstate



  • No. of Policy Types: Multiple custom policies 
  • Coverage Limit: Varies 
  • Price: Contact for quote
Why We Chose It

Allstate offers multiple discounts to help you save on your policy including discounts for bundling and claim-free years. It also has customizable policies.

Pros & Cons
  • Excellent options for discounts

  • Customizable policies

  • Average customer satisfaction ratings

  • Discounts not available in all states


Allstate Discounts

Allstate offers the following discounts:

  • Save up to 25% when you bundle home and auto policies
  • Save up to 20% when you switch to Allstate without a recent home insurance claim
  • Save up to 5% when you set up automatic payments
  • Save up to 10% for switching to Allstate, and save 10% every year after that
  • Homebuyer discount, if you buy a newly constructed home, or if you’re a recent homebuyer

Allstate Coverage Options

In addition to standard home insurance coverage options, Allstate offers coverage for:

  • Identity theft restoration
  • Water backup
  • Scheduled personal property
  • Business property
  • Green improvement reimbursement
  • Yard and garden
  • Electronic data recovery
  • Musical instruments
  • Sports equipment

Read the full review: Allstate Homeowners Insurance

Best for Mobile Homes : Farmers

Farmers Insurance
  • No. of Policy Types: 3
  • Coverage Limit: Varies
  • Price: Contact for quotes
Why We Chose It

Farmers offers customizable policies with features just for mobile homeowners. 

Pros & Cons
  • Claim forgiveness

  • Declining deductible

  • Eco-rebuild option

  • Below average customer service ratings


Farmers Discounts

Depending on where you live, Farmers offers discounts to help you save, including:

  • Bundle discounts if you buy multiple policies from Farmers
  • Business/professional group discount
  • Nonsmoker discount
  • Discounts for deadbolts and strong locks
  • Discounts for security systems
  • Discounts for a fire alarm

Farmers Coverage Options

Farmers offers three customizable packages as a starting point:

  1. Standard: Designed for homeowners who are just starting out
  2. Enhanced: Higher policy limits and extra features
  3. Premier: Highest limits and coverage on personal property, with optional guaranteed replacement cost

The three packages are customizable, and you can raise or lower limits and add or change coverage. Additional coverage options for the packages include:

  • Eco-Rebuild (get up to $25,000 toward the extra cost of replacing materials and appliances with green alternatives)
  • Contents Replacement Cost Coverage
  • Identity Shield

Best for Local Agent Support : State Farm

State Farm

 State Farm

  • No. of Policy Types: Multiple custom policies
  • Coverage Limit: Varies
  • Price: Contact for quotes
Why We Chose It

State Farm has a large network of local agents who can offer policyholders personalized, in-person customer support. 

Pros & Cons
  • An extensive network of agents

  • Robust mobile app

  • High customer satisfaction ratings

  • Fewer discounts than competitors

  • No option for flood insurance


State Farm Discounts

State Farm offers fewer discounts compared with other companies on this list. Still, customers may be able to save on premiums with these discounts:

State Farm Coverage Exclusions

State Farm Homeowners policies do not cover the following articles and events:

  • Floods
  • Ground water
  • Earthquakes
  • Mudslides
  • Nuclear hazards
  • Rodents
  • Birds
  • Insects
  • Domestic animals
  • Business related events and equipment
  • Watercraft

These exclusions are pretty standard to most homeowners policies.

Best for Seniors : AARP Homeowners Insurance—The Hartford

The Hartford
  • No. of Policy Types: 3
  • Coverage Limit: Varies
  • Price: Contact for quotes
Why We Chose It

The company specializes in a wide variety of senior services including insurance products, and it offers discounts and an easy-to-use online quote system. 

Pros & Cons
  • Advanced online quote system

  • Senior discounts through AARP

  • Upgraded packages

  • Loss of use coverage potential capped

  • Must contact company for quotes

  • Fewer discounts than other providers


The Hartford Discounts

The Hartford offers the following discounts:

  • Save up to 5% on your car insurance and 20% on your home insurance when you bundle
  • Discounts for upgrading home security with burglar alarm and sprinkler system
  • Renewal credit when you renew your home policy
  • Retiree credit if you and your spouse are retired or work less than 24 hours a week

The Hartford Coverage Options

The Hartford offers standard home insurance coverage options, plus two optional packages that combine extra coverages into a ready-to-buy policy:

  1. Home Advantage Package (enhances the typical base policy with Identity Fraud Expense coverage, “new for old” actual cost replacement, reimbursement for lock replacement, and personal injury liability protection)
  2. Home Advantage Plus Package (includes all the Home Advantage options plus equipment breakdown coverage, a disappearing deductible, and blanket coverage for valuable items)

The company also offers stand-alone options to increase coverage:

  • Replacement Plus (to help with sustainability minded in-home upgrades)
  • Green Rebuilding (to increase policy limits by up to 10% when you choose green materials)
  • Water Backup (also sump pump overflow)
  • Scheduled Personal Property

Best for Military Families : USAA



  • No. of Policy Types: Multiple custom policies
  • Coverage Limit: Varies
  • Price: Contact for quotes
Why We Chose It

Available only to military members and veterans, USAA has a strong reputation and a network of experienced agents who can explain these services to them. 

Pros & Cons
  • High customer satisfaction

  • Excellent financial stability

  • One-stop shopping for insurance, banking, and investing products

  • Only available to active military members, veterans, and their families

  • No local agents available


USAA Discounts

USAA members have access to many discounts, from flowers and shipping to tax filing and car buying. Specific to home insurance, USAA members can take advantage of these discounts:

  • Save up to 10% when you bundle property and auto insurance
  • Save up to 15% if you’re claim free for five years
  • Protective Device Credit and special savings with ADT home security systems

USAA Coverage Options

Standard USAA policies cover you for fire, theft, vandalism, most weather-related events, liability, and identity theft. You’re also covered for loss due to a covered peril of military uniforms or equipment you own if the loss occurs while you’re on active or reserve duty (with no deductible). Additional coverage options include:

  • Flood insurance
  • Earthquake coverage
  • Valuable personal property
  • Home-sharing coverage (if you rent out a room or your entire house)

Final Verdict

Homeowners insurance is a way to protect yourself financially in the event of theft, accident, or other catastrophic event. All of the companies that made our best cheap homeowners insurance list are good choices, with some offering many discounts to policyholders or local agent support while others are good for specific types of homes such as mobile homes.

Overall, though, we recommend checking out Amica due to its high overall customer ratings and reviews, multiple types of insurance policies, and numerous discounts. 

Compare The Best Cheap Homeowners Insurance

Company No. of Policy Types  Coverage Limit  Price  No. of Discounts 
Amica Best Overall Multiple Varies Contact for quotes 7+
Allstate Best for Discounts  Multiple custom policies Varies  Contact for quotes  5+ 
Farmers Best for Mobile Homes  Varies  Contact for quotes  6+ 
State Farm Best for Local Agent Support  Multiple  Varies  Contact for quotes  3+
AARP Homeowners Insurance-The Hartford Best for Seniors  Varies  Contact for quotes  4+ 
USAA Best for Military Families  Multiple custom policies  Varies  Contact for quotes  3+ 

Guide to Choosing the Best Cheap Homeowners Insurance 

How Much Homeowners Insurance Coverage Do You Need? 

The amount of homeowners insurance coverage you need varies greatly by person. It depends on several factors including how much your home is worth, how much coverage you want, the area you live in, and if you’re in a flood zone. Coverage can also vary depending on the age and type of home you live in and when your roof was last replaced. You may want to add-on coverage if you have expensive heirlooms or if you want to cover business equipment in your home office. 

Compare Homeowners Insurance Options

When shopping for homeowners insurance, you want to do your research and compare companies’ policies. Some important factors to look for when comparing homeowners insurance options include:

  • Coverage limits: You will want to research the coverage limits and make sure that they fit what you need and then you can compare them to other company’s coverage limits. You don’t want to find out that your house or some of your included belongings exceed the maximum coverage limits after a catastrophe happens. 
  • Coverage options: What type of coverage does the policy include? Check out things like liability, structure, yard/garden, and extra coverage for valuable musical instruments or jewelry. 
  • Available discounts: Know what discounts are available upfront and which ones you can earn as you go. You may be able to earn discounts for not making a claim each year or for enrolling in auto pay and never missing a payment. Once you know what discounts are offered, you can compare them to what discounts the other homeowners insurance providers offer. 
  • Policy extras: Some insurance companies reward their members with extras and perks. You may get a discount at certain retailers or access to purchase event tickets before the general public. 

Save Money on Your Homeowners Insurance Policy

There are a few ways you can save money on your homeowners insurance policy. You can ask if having things like an alarm system, no homeowners insurance claims for the past few years, and even being a member of certain professional organizations, may offer discounts. Other ways to save money include reviewing your policy and removing anything that you don’t need, like flood coverage if you live inland, or bundling different policies like homeowners and auto insurance.

Frequently Asked Questions

What Does Home Insurance Cover?

Home insurance policies typically cover all of the following:

  • Coverage for the structure of your home and any other structures on the property
  • Covered losses such as fire, vandalism, theft or a natural disaster
  • Cost to repair or rebuild your home
  • Accidental property damage at your home
  • A visitor is injured at your home
  • Your personal belongings inside your home 

What Doesn't Home Insurance Include?

Home insurance doesn’t cover your vehicles if they're damaged on the property. It also doesn’t cover a rental property or a tenant’s belongings. You may need to add on additional coverage types to your plan. Make sure you read your policy and talk to your insurance company so you know what’s included and what’s not included in your specific policy. 

How Much Does Home Insurance Cost?

No two homes are alike and neither are two home insurance quotes. Typical variables that affect the cost of home insurance include:

  • Location of the property
  • Property type
  • If the property is in a flood zone
  • Home value
  • Coverage amount
  • Type of coverage
  • Previous reported losses

Is Home Insurance Worth the Cost?

Home insurance is definitely worth the cost because it can save you a significant amount of time and money in the long run. If a fire occurs or your house is vandalized, home repairs can be expensive to pay for out-of-pocket. Your premium and deductible would likely be less expensive than many costly home repairs without any insurance benefits.

Is Home Insurance Mandatory?

Home insurance is mandatory with most mortgage lenders. If you finance a property, the lender typically requires proof of insurance prior to the settlement. Homeowners insurance may also be mandatory if you live in a dwelling that is part of a homeowners association (HOA) or condo association.


To determine the best cheap home insurance companies, we considered several factors including the financial strength of the company and nationwide availability. We also looked at costs, optional coverages, discounts, coverage limits, and deductibles.

Happy couple with boxes, talking on porch about homeowners insurance

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Article Sources
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