Best Homeowners Insurance for New Constructions

Offering an outstanding balance between affordable coverage and quality service, Auto-Owners Insurance is the best overall homeowners insurance for newly constructed homes, charging an average of $1,243 annually for $250K in dwelling coverage. However, if you’re looking for lower costs, Concord Group Insurance has the most affordable average of $369 annually for $100K in dwelling coverage.

Remember, the best homeowners insurance for you and your new home depends on your unique needs and profile.

The best provider for new constructions offers a balance between excellent customer service and affordable coverage, ensuring you get financial protection without breaking the bank.

If you have a newly constructed home, Erie is the best overall homeowners insurance provider, charging an average of $1,376 annually for $250K in dwelling coverage. Auto-Owners Insurance comes in at a close second, earning the same MoneyGeek score of 91 but with a slightly higher average annual premium of $1,243.

Take a look at our rankings of the best home insurance providers for newly constructed homes with $250K in dwelling coverage below.

If you value affordability more than customer service, Concord Group Insurance is the cheapest homeowners insurance provider for new constructions, charging an average of $369 per year for $100K in dwelling coverage. Lower dwelling coverage limits can help reduce premiums, but they may not offer enough coverage if you face unexpected damages.

Aside from dwelling coverage, your deductible also plays a role in costs. For instance, a $100K dwelling coverage policy with Concord Group Insurance costs $37 less annually if you opt for a $2,000 deductible over a $500 one.

Use the table below to explore the cheapest home insurance providers for those with new homes. Toggle between different coverages and deductibles. Note that the MoneyGeek scores for the providers below minimally considered customer service.

If you have a newly constructed home and a poor credit score, the best homeowners insurance is Chubb. It offers a policy with $250K in dwelling coverage at an average of $3,938 per year.

In all states except California, Hawaii, Massachusetts and Maryland, home insurance providers may use your credit score as a factor when determining premiums. The better your credit score, the more trustworthy you’re perceived and the better your premiums. For instance, you’ll pay $2,287 less with Chubb for the same policy if you have an excellent credit score.

Use the table below and toggle between coverage limits and credit scores for a policy with a $1,000 deductible.

Where you live also influences which provider is best for you. Some providers are only available in certain states, and others may charge more in certain locations depending on unique environmental factors. For instance, we found that Auto-Owners Insurance is the best overall provider in Colorado, while Nationwide is the best in Nevada.

Filter the table below to your state and find the best homeowners insurance for new homes with $250K in dwelling coverage and a $1,000 deductible.

In 2024, homeowners insurance for new homes costs an average of $1,631 annually. Understanding this average can help you budget effectively and ensure you can afford all aspects of homeownership before you finish construction on your new home. It is also a helpful benchmark for comparing insurance quotes, enabling you to evaluate whether a quote is reasonable or overpriced, leading to more informed decisions and potentially saving you money.

Before shopping for homeowners insurance, remember to determine your home insurance needs, desire for add-on coverages and preferred method of finding a provider. This work will help you find the best insurer for your newly constructed home.