Delaware Home Insurance
Quote in 60 SecondsThere’s a reason why Delaware is called the Diamond State. From college students and entrepreneurs to retirees, there’s something shiny about Delaware that attracts just about everyone. Not only will Delaware help you pay off your student loans, but it's also a hot spot for startups and outdoor adventures.
And now Delaware homeowners can get an upgrade, thanks to our modern home insurance policies. Looking for more information on what protection you really need (and what protection you can skip)? We’re here to help.
How much is homeowners insurance in Delaware?
Homeowners insurance in Delaware runs an average of $936 — about the same cost as a couple of nice bikes, a common purchase in the sixth most bike-friendly state in the nation. Just like you wouldn’t hit the bike trails without proper protection (aka a sturdy helmet), you shouldn’t plan to buy a home without factoring in home insurance protection.
Like its size, Delaware’s home insurance average is pretty small compared to the rest of the country (whose home insurance averages run around $1,200). Though given its ample coastline, the second smallest state in the nation doesn’t actually have the smallest home insurance premiums. Delaware clocks in at seventh cheapest state for home insurance, so if you’re looking to pay a lot less, you’d have to buy home insurance in Oregon.
What factors influence my home insurance rate?
Individual home insurance rates will vary across Delaware, as factors like your home's location, age, size and current condition are all taken into account. Your financial history will be considered too, so make sure you're doing what you can to boost your insurance score.
Delaware Home Insurance Premiums
What does homeowners insurance in Delaware cover?
Homeowners insurance in Delaware covers your home, belongings and liability. So if a fire breaks out in your kitchen and the blaze damages your walls and many of your high-tech kitchen devices, you’d be covered. Delaware is also one of 19 states that requires specific hurricane and windstorm deductibles, meaning you’ll know upfront how much coverage you have, no matter which provider you choose.
This statewide mandate was put in place for good reason. Delaware gets an average of 45 inches of rain each year and is also prone to severe storms, tornadoes and hurricanes. But what other protections you need will depend a lot on where you live.
For example, flood and hurricane insurance is a must if you live near the coast or within 100 feet of sea level. While Delaware does not contain any fault lines, the 4.1 magnitude earthquake that hit the state in 2017 means earthquake insurance might not be a bad idea.
Delaware Insurance Coverage Options
Traditional coverage
Structure
Expenses
Protection
Structures
Possessions
Supplemental coverage
Tips to lower your home insurance premium
Lowering your home insurance premium can be accomplished in a variety of ways, such as updating your roof, raising your deductible and omitting coverage from your policy that you don’t need. Can you believe some companies still include coverage for outdated items like pewter, paper stock certificates and furs? Instead of this type of outdated coverage, we provide protection for things you really care about, like four times the coverage for your electronic devices.
You should also consider installing smart home devices throughout your home. These types of devices will not only help you keep an eye on your home when you go out of town, but they’ll also keep your utility bills low and send alerts if your home develops a water leak or other problem. If you get a policy with Hippo, we’ll even give you some of these products for free.
Delaware even has the third-fastest internet speeds in the country, so if you work from home or do a lot of gaming, the state will never slow you down. Maybe these fast download speeds are the reason why 67.8% of Fortune 500 companies set up shop in Delaware.
Delaware home insurance resources
“There is a time for daring and a time for caution, and a wise man understands which is called for.” This famous quote from John Keating in the movie “Dead Poets Society” (which was filmed in Delaware, by the way) inspired audiences around the globe to dream big and take risks. Here at Hippo, risk is one thing we know plenty about.
That’s why we stress the importance of proper insurance education, so that every wise person can learn about the necessary cautions required in protecting their homes. The state of Delaware seems to be on board, offering the Delaware Department of Insurance as an all-knowing resource for homebuyers and homeowners looking for coverage.
The National Flood Insurance Program
Thanks to the National Flood Insurance Program (NFIP), getting flood insurance for your Delaware home is simple. This federal program provides coverage should your home or belongings become damaged by floodwater, and homeowners can purchase it through traditional insurance providers. It’s worth noting the NFIP is set to change premiums in late 2021, so make sure to budget accordingly.
Delaware Fair Access to Insurance Requirements Plan
To ensure all Delaware residents are protected, the state government has its own FAIR Plan (previously called the Insurance Placement Facility of Delaware). While this coverage is pretty simplistic, it’s a good option for those unable to get a policy through traditional avenues. However, you’ll have to show proof of at least three unsuccessful attempts to acquire coverage before you qualify.
As Delaware residents know, it’s good to be first. And while we weren’t the first home insurance provider to start operating within its state borders, we are working hard to become the best. For a modern home insurance quote as fast as Delaware's internet, just turn to Hippo.
