Our editorial team analyzed regional and national home insurance companies that sell policies in Wilmington to assess which offer the best rates, coverage options, customer service, and savings to homeowners. We prioritized competitive rates, 24/7 customer service, homeownership discounts or bundling options, and specialty or supplemental coverages.
Wilmington, the largest city in Delaware, offers a unique blend of big-city and small-town charm. Here, homeowners pay an average of $975 annually for a home insurance policy with $300,000 in dwelling coverage with a $1,000 deductible. This rate is much lower than the national average of $2,584 per year for the same coverage, possibly due to Delaware’s lower population density and relatively moderate risk of natural disasters.1
To find the best deal on home insurance coverage in Wilmington, Delaware, it’s a good idea to shop around and compare multiple quotes. Here’s what you need to know about homeowners insurance in Wilmington.
Best home insurance companies in Wilmington
The best homeowners insurance company depends on your budget, the type of homeowners insurance you need, and your personal preferences. The following three companies are among the top options for homeowners in Wilmington.
Cheapest rates: Travelers
Best insurer for personalized service: State Farm
Best insurer for discounts: Allstate
Cheapest home insurance companies in Wilmington
Travelers has the cheapest home insurance rates in Wilmington, averaging $615 annually for a policy with $300,000 in dwelling coverage and a $1,000 deductible.
The table below shows prices for several other insurers for the same dwelling coverage amount and deductible.
How much is home insurance in Wilmington?
In Wilmington, Delaware, the average annual cost of homeowners insurance for $300,000 in dwelling coverage is $975 with a $1,000 deductible or $1,024 with a $500 deductible.
Insurers base your premium on factors like the size and construction of your home, your coverage amount and deductible, and the value of your personal belongings.2
Cost of home insurance by dwelling coverage in Delaware
If a covered loss damages your Wilmington property, having sufficient dwelling coverage is essential to repair or rebuild your home.
To ensure you buy an adequate dwelling coverage amount, consider factors such as your home’s age, square footage, and interior features. Higher dwelling coverage amounts increase your home insurance costs, but ask your insurer about discounts and other ways to lower your premium.3
Here’s a look at how different dwelling coverage amounts in Delaware affect annual home insurance premiums for policies with a $1,000 deductible.
Cost of homeowners insurance by deductible amount
Your home insurance deductible is your out-of-pocket cost when you file a claim for a covered loss. Once you pay your deductible, your policy will kick in and pay for damages up to your policy limits. While a higher deductible means a lower premium, ensure you can afford to pay the higher out-of-pocket costs if you file a claim.
The table below shows pricing for a $300,000 Wilmington home insurance policy with a $500 and $1,000 deductible.
Average cost of home insurance in other cities in Delaware
Your city and ZIP code within Delaware also influence your home insurance quotes. Different areas have variances in weather, crime rates, and proximity to fire stations. For example, if you own a home in an area prone to flooding, you’ll pay more for your home insurance than someone with a lower flood risk.
The table below highlights home insurance costs in other Delaware cities.
What to know about owning a home in Wilmington
If you’re a homeowner in Wilmington, it’s important to be aware of risks and natural disasters that might affect your property, including:
Wilmington home insurance FAQs
The answers to some frequently asked questions below can provide more information as you shop for homeowners insurance in Wilmington.
Homeowners insurance in Wilmington costs an average of $975 per year for $300,000 in dwelling coverage with a $1,000 deductible, or $1,024 with a $500 deductible. Areas in Wilmington are vulnerable to flooding, so you may want to buy flood insurance from the NFIP or through a private insurance company.
Travelers offers the cheapest average homeowners insurance rates in Wilmington, at $615 per year.
To save money on your home insurance costs in Wilmington, shop around and compare your options. You can also increase your deductible, take advantage of discounts, and bundle your home and auto insurance.
The 80% rule states that you must insure your home for 80% of its replacement value. If the coverage amount is below 80%, your insurer may reimburse you an amount proportional to the minimum amount you should’ve purchased.
Flooding and hurricanes are common risks for Delaware homeowners, but your particular risks depend on where your home is located within the Blue Hen State.
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Insurance Writer
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