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Wilmington, DE Homeowners Insurance Quotes (2023)
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Written by
Jackie Cohen
Editorial Manager
Jackie Cohen is an editorial manager at Insurify specializing in property & casualty insurance educational content. She has years of experience analyzing insurance trends and helping consumers better understand their insurance coverage to make informed decisions about their finances.Jackie's work has been cited in USA Today, The Balance, and The Washington Times.
Edited by
John Leach
Insurance Content Editor at Insurify
John Leach is an insurance content editor who has worked in print and online. He has years of experience in car and home insurance and strives to make these topics easy to understand for everyone. He has a linguistics degree from UC Santa Barbara.
Updated February 28, 2022
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Wilmington, DE Homeowners Insurance
If you’re looking to move to a small city with a tight-knit community feel, look no further than Wilmington, Delaware. Wilmington is Delaware ’s most populated city, so you’ll have easy access to all the amenities you could need, from shopping malls and theatres to stadiums and museums of art, history, and even hands-on discovery at the Delaware Children’s Museum. If you’re looking to take a more adventurous day trip, Wilmington is less than an hour from Philadelphia and roughly two hours from Washington, D.C., and New York City. But if you never leave Wilmington ’s city limits, you’ll still be satisfied. Plus, Wilmington lies along the Christina River and Brandywine Creek and has plenty of parks, hills, and hiking trails, so your life in the city will be full of picturesque views and weekends spent in nature.
But Wilmington ’s nature poses just as many risks as rewards. The city is prone to flooding, winter storms, hurricanes, and even occasional tornadoes. Since Wilmington ’s property crime rates are over two times higher than the national average, you’re going to want to make sure your home is secure and protected in case of any natural disaster or potential break-ins.
Finding coverage for your Wilmington home can be a hassle. At Insurify, we believe it doesn’t need to be. Check out Wilmington home insurance companies, coverage options, and costs all in one place with Insurify’s comparison tools so you can find the best home insurance policy for you in just a few minutes.
Cheapest Home Insurance Companies in Wilmington
For homeowners in Wilmington, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.
To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Wilmington. The following are the best insurance rates from carriers that offer homeowners insurance in Wilmington.
| Cheapest Companies | Quotes The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. |
|---|---|
| Cumberland Mutual | $587 |
| Nationwide | $734 |
| Allstate | $1,014 |
| State Farm | $1,038 |
| Encompass | $1,482 |
How to Find Cheap Home Insurance in Wilmington
The median home value in Wilmington is nearly $240,000, and the further you live from downtown, the more expensive your home will be. When purchasing a home in a high-risk area like Wilmington, it’s important to protect your property with an insurance policy.
Home insurance is not legally required, but it’s the best way to make sure your home and personal belongings are covered from storms, vandalism, and theft. Delaware homeowners insurance will also provide liability protection in case someone is hurt on your property and can help cover your family’s living expenses if you need to leave your home while it’s being repaired.
Every policyholder is different, and your insurance products should be catered to your specific insurance needs. Keep reading for a full guide on Wilmington home insurance to find out more about your coverage options and potential exclusions to look out for.
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Cheapest Home Insurance in Wilmington by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in. Our free home insurance comparison tool allows you to find the best policy for the best rate fast. And your information stays private and protected.
As of 2020, the average home insurance premium in Wilmington costs $1,111 annually, and the median home value is $238,047
Rates in Wilmington are pretty cheap compared to the national and state averages. But Delaware residents can save even more on annual premiums by comparing insurance quotes with multiple home insurance companies.
When comparing insurance providers, keep your insurance preferences in mind. Are you looking for cheap premiums or comprehensive coverage? If you need car insurance, compare insurers ’ home and auto insurance bundling discounts. Maybe customer satisfaction is your top priority. In that case, you should check insurance agencies’ J.D. Power ratings before you pick your policy.
Whether you want a national insurer like Liberty Mutual, Allstate, State Farm, or Nationwide or a local homeowners insurance company like Allen Insurance Group or KT&D Inc., get a quote from every company you’re considering to make sure you’re getting the best coverage and cost.
| Average Home Cost in Wilmington The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. | Average Annual Insurance Premium in Wilmington The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. |
|---|---|
| $238,047 | $1,111 |
Average Annual Home Insurance Premium in Wilmington by Company
Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
Cumberland$587
Nationwide$734
Allstate$1,014
State Farm$1,038
Encompass$1,482
Travelers$1,807
Cheapest ZIP Codes in Wilmington for Home Insurance
Delaware is the second-smallest state in the U.S., so you might assume that insurance rates would be consistent from Wilmington to Middletown to Dover. But home insurance rates are based on ZIP code–specific variables, so homeowners in the Highlands have different annual premiums than those in Trolley Square and Riverfront.
Homes in neighborhoods with higher property crime rates and natural disaster risks generally cost more to insure than properties where homeowners file fewer insurance claims.
Rates in Wilmington are still pretty low, but your specific neighborhood will determine whether your premiums fall on the higher or lower end of the city’s average.
Home Insurance Coverage Types in Wilmington
There are several types of home insurance. Specific terms of insurance policies may vary by city, but in general, the standard policy types are as follows:
The simplest and least comprehensive type of homeowners insurance
Provides coverage for a handful of potential problems, including
- Dwelling coverage for damages from some natural disasters (storms, fires, wind, lightning, volcanic eruption),
- explosions,
- theft,
- damage from vehicles,
- or civil commotion.
Broad form homeowners insurance policies include all basic form coverage, plus protection from:
- falling objects,
- damage from the weight of ice, snow, or sleet,
- freezing of household systems including HVAC and pipes,
- sudden and accidental damage to pipes and other household systems from artificially generated electrical current,
- accidental discharge or overflow of water or steam,
- sudden and accidental damage.
HO-2 policies typically cover both dwelling protection and personal property.
In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
The most common form of homeowners insurance is known as a “special form” policy.
While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.
Tenant’s form policies typically cover all the same dangers as HO-2 policies.
These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house.
Some HO-4 policies may also include loss of use coverage for the tenants.
Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policy.
The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “replacement cost value” policies.
An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).
HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property, such as jewelry and artwork.
Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.
They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.
These policies also include personal property and liability coverage and may include loss of use coverage.
If you own a mobile home or manufactured home, you likely have an HO-7 policy.
Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well.
HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them.
HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.
Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home that would enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.
For more detailed Delaware city level guides, check out these below.
Why Wilmington Flood Insurance is Worth the Cost
Forgoing flood insurance may seem like a great option if you’re trying to save some cash. But Wilmington is at risk of flooding due to heavy rainfall, melting snow, rising sea levels, and hurricanes, leaving homeowners around Wilmington ’s rivers, creeks, and coast at high risk of flood damage year-round. The Federal Emergency Management Agency has also designated three flood insurance claims hotspots in the city from past disasters.
Home insurance doesn’t include flooding as a covered loss, so without a flood insurance add-on, you’ll be left paying out of pocket for repairs if your home sustains flood damage. Wilmington participates in the National Flood Insurance Program, so you have two options when it comes to obtaining a flood insurance policy: you can purchase a policy through your private insurer or with the NFIP.
Private insurance companies typically offer more options to cater your coverage to your home’s needs. But if your home is located in a flood zone, you might have a hard time finding a private insurer to cover your property. The NFIP is a better option for those in higher-risk areas.
Watch Out For Wilmington Wind Damage
Most homeowners policies cover damage caused by wind, hurricanes, and hail. With the city’s vulnerability to hurricanes, nor’easters, and even tornadoes, this coverage is especially important in Wilmington.
Some insurance providers or policies list wind damage as an exclusion in areas that regularly experience high winds. If you’re concerned about your wind and hail coverage, or if wind damage is excluded from your policy, talk to your insurance agent about your wind and hail options.
Many insurers allow policyholders to pay a separate wind and hail deductible in case of windstorm damage. This means if a windstorm tears off your roof, you can simply pay this deductible rather than forgoing coverage altogether. You can also increase your policy’s coverage overall with a comprehensive (or HO-5) policy to ensure that your home and property will be protected from any storm.
How to Find the Cheapest Home Insurance in Wilmington
Wilmington is a great city if you need easy access to metros like Philly and New York but prefer living where everybody knows your name. The risks associated with life in Wilmington are high, but finding reliable, affordable insurance coverage has never been easier. Reduce your search time and maximize your savings with Insurify’s comparison tools.
Frequently Asked Questions
Earthquakes aren’t common in Wilmington, but they also aren’t unheard of. The area experienced a 4.1 magnitude quake in 2017, but Delaware has never had a severe or even moderate-strength earthquake, so you can probably skip the extra coverage. Still, it’s never a bad idea to talk to your local agent to see whether an earthquake policy would be worth the cost.
Your homeowners policy will pay to repair or replace any damaged property after your home is broken into or vandalized, but every company has different requirements for reimbursement. The best steps to take after a home burglary are to file a police report, take photos of any damaged items, and create an inventory of your broken and stolen belongings to estimate how much it will cost to repair your property. Keep in mind that insurance claims take time and that your reimbursement amount depends on whether you have an actual cash value policy or replacement cost coverage.
When a driver hits your home, their insurance policy should pay to fix the damages. If the driver is uninsured, their coverage isn’t enough to completely repair your home, or the damage exposes your home to winter weather (causing more damage), you may need to involve your home insurance provider. Talk to your insurer to see whether your policy will cover this peril.
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