Average Costs and Cheapest Homeowners Insurance Companies in District Of Columbia

MoneyGeek analyzed average home insurance quotes to help you find affordable homeowners insurance in the District of Columbia based on your needs. Allstate is the cheapest company overall for home insurance in the District of Columbia. It also has the cheapest rates for expensive homes and newer homes. However, if you have a poor credit score or a home with a pool, Chubb is the cheapest option.

MoneyGeek identified the cheapest providers in the District of Columbia for different dwelling coverages by analyzing thousands of quotes. Allstate is the cheapest home insurance provider in the District of Columbia for a policy with baseline dwelling coverage of $500,000.

Depending on dwelling coverage, the cheapest home insurance companies in the District of Columbia are:

• Cheapest for $100,000: Chubb
• Cheapest for $250,000: Chubb
• Cheapest for $500,000: Allstate

You can use the table below to see the rates for the dwelling coverage that suits your needs. The level of dwelling coverage you need will depend on the replacement cost of your home.

Your dwelling coverage level is the most significant factor in determining the cost of homeowners insurance in the District of Columbia. When you choose a high dwelling coverage, your insurer will cover you for more damages. However, this means you have to pay more in premiums.

The average cost of home insurance in the District of Columbia for the baseline dwelling coverage of $500,000 is $1,713 per year. Homeowners who purchase $100,000 in dwelling coverage will pay an average of $491 per year, which is cheaper by $9,421 compared to homeowners who purchase $3 million in dwelling coverage at $9,912 per year.

Insurers consider many factors when determining home insurance premiums, from the size and location of your home to your credit score and coverage limits and more. To find the best option for you, compare insurance quotes in the District of Columbia using MoneyGeek’s home insurance calculator.

You can adjust your dwelling coverage limits, deductible and other limits to see how average home insurance costs in the District of Columbia vary depending on your requirements.

MoneyGeek analyzed home insurance quotes from different providers to help you find low-cost homeowners insurance in the District of Columbia for expensive homes. On average, the cheapest insurers for an expensive home in the District of Columbia with a dwelling coverage of $2 million are:

• Allstate: $3,080 per year
• Chubb: $6,025 per year

The best way to get cheap homeowners insurance in the District of Columbia if you have an expensive home is to compare quotes from multiple providers since rates can vary widely depending on the insurer.

If you have a newer home built in 2015, MoneyGeek analyzed home insurance quotes for newer homes with $250,000 dwelling coverage to help you find the most affordable insurers.

On average, the cheapest companies for newer homes in the District of Columbia with a dwelling coverage of $250,000 are:

• Allstate: $589 per year
• Chubb: $621 per year

In the District of Columbia, It can cost up to $178 less per year to insure a newer home built in 2015 compared to insuring a home built in 2000.

A different ZIP code collection process was used to collect rates for these 2000 homes, so rates may differ from the first section.

The average cost of homeowners insurance in the District of Columbia for newer homes built in 2015 is $765, which is $178 cheaper than the cost of similar coverage for a home built in 2000. Older homes cost more to insure because they have experienced more wear and tear over time. Older building materials may also be more costly to replace and are susceptible to damage.

MoneyGeek averaged thousands of home insurance quotes in the District of Columbia to find the cheapest providers for homes with pools.

On average, the most affordable home insurance companies in the District of Columbia for homes with pools and dwelling coverage of $250,000 are:

• Chubb: $688 per year
• Allstate: $799 per year

Having a pool can make your home more expensive to insure because it increases the value of your home, making the replacement cost higher.

In the District of Columbia, insuring a home with a pool and $250,000 in dwelling coverage will cost around $943 per year. This is the same rate as a home without a pool that has similar dwelling coverage. Depending on the insurer, you may need to get separate liability coverage for the pool since some insurers will not include the pool in your dwelling coverage.

MoneyGeek found the cheapest home insurance companies in the District of Columbia for homeowners with bad credit scores by analyzing thousands of quotes.

If you have a poor credit score, the cheapest companies in the District of Columbia for home insurance with $500,000 in dwelling coverage are, on average:

• Chubb: $2,293 per year
• Allstate: $2,653 per year

Insurers use credit score as a rating factor in determining the cost of home insurance since homeowners with poor credit scores are more likely to file claims due to a lack of resources to maintain their homes. A homeowner with a poor credit score is also considered more likely to default on payments, hence the higher premiums.

In the District of Columbia, having a poor credit score can increase your home insurance premiums by up to $934 per year. This is because insurance companies charge varying rates based on your credit score because this demonstrates your potential risk.

The cost of homeowners insurance and the cheapest company for you can change depending on where you live. In Washington D.C., Allstate is the cheapest company for home insurance. It costs $438 cheaper than Washington D.C.’s average rate across all companies for $500,000 in dwelling coverage.

To get a binding home insurance quote in the District of Columbia, your insurer will require personal details. Some of the information required includes your address, age, construction materials and the current market value of your home. It is also important to disclose details like proximity to a fire department, recreational items and whether you use a security system when requesting a personalized quote.

If you would like to get an anonymous quote, you can use MoneyGeek’s home insurance calculator. We created this tool using thousands of quotes.

To provide a range of home insurance quotes for District of Columbia residents, MoneyGeek examined premiums from four insurers. A sample base profile of a District of Columbia resident with a 2,500 square foot home built in 2000 was used to get quotes for policies with a dwelling coverage of $500,000, personal property coverage of $200,000 and liability coverage of $100,000. All policies came with a $1,000 deductible.