Home insurance in the US 🏡

Home insurance in the US can help protect your home and belongings from risks such as damage and theft. Homeowners insurance is available for property owners, while renters insurance can cover the personal belongings of those on tenancy contracts.

With many insurance companies offering products in the US, choosing a suitable home insurance policy requires a bit of research. This guide explains all about home insurance in the US, from the different types available to how to make a claim.

Introduction to home insurance in the US 🏡

Home insurance in the US is broadly broken down into two primary categories:

• Homeowners insurance: Covers both the structure of a property and its contents against various risks, and typically includes liability protection and additional living expenses. It is most commonly used by property owners and comes in several policy types
• Renters insurance: Protects the personal belongings of tenants and provides liability coverage, but does not cover the building itself.

While neither homeowners nor renters insurance are legally mandatory in the US, most mortgage providers require it as a condition of a home loan. For this reason, the majority of homeowners in the US have some kind of policy. However, renters insurance is less common, with around 57% of US renters taking out a policy (2022).

According to the US Department of Treasury Annual Insurance Industry Report (2025), homeowners insurance is the second biggest form of property and casualty insurance in the US, accounting for 17% of premiums. The biggest form is auto insurance, with 34% of premiums. Many insurers offer bundled home and auto policies.

Home insurance in the US is primarily regulated at state level under the 1945 McCarran-Ferguson Act. The National Association of Insurance Commissioners (NAIC) helps coordinate regulation, develops professional standards, and has information on state insurance departments.

This guide is for information only and does not constitute advice. Different types of insurance are suitable for different individual needs. Get professional advice and support to choose the right policy for your unique situation.

Can you use home insurance from another country in the US?

In general, you cannot rely on home insurance from another country to cover a property in the US. Home insurance policies are typically tied to a specific property, so if you move to the US, you will usually need to arrange a new policy with a US-based insurer.

In some cases, international or high-value insurance providers may offer global coverage, or limited protection for personal belongings abroad, but this is not standard and rarely replaces a full US home insurance policy.

If you believe your existing policy may provide any overseas coverage, check whether the US is included, what type of protection applies, and inform your insurer about your move and new property details.

Managing cross-border finances for insurance

If you need to transfer money from abroad to cover home insurance costs in the US, Wise offers the mid-market exchange rate and minimal fees for international transfers, making cross-border money management much easier.

You can open a Wise multi-currency account to help with regular cross-border transactions and simplify managing properties or payments in multiple currencies. The account holds 40+ currencies, including USD, and you can receive payments in 20+ currencies.

Home insurance companies in the US

There are many providers of home insurance in the US. Some of the larger, reputable companies are:

• Amica – offers a range of homeowners insurance and renters insurance policies tailored to individual needs.
• Chubb – offers homeowners, renters, and condo insurance to protect against a range of risks.
• State Farm – offers individual homeowners or renters coverage as well as the option to bundle with car insurance or life insurance.
• USAA – offers various types of property insurance, including homeowners, renters, landlords, and mobile home insurance.

You can compare different types of US home insurance policies on websites such as Insurify.

Understanding home insurance costs 💰

Home insurance premiums in the US can vary substantially depending on a wide range of factors. These include:

• Property value
• Value of insured personal belongings
• Property size, type, and age (older properties are typically more expensive to insure)
• Security measures (e.g., fitting security gates, cameras, or burglar alarms can reduce premium costs)
• Location (costs vary between states, cities, and neighborhoods depending on area profiles and risk factors)
• Your own insurance risk profile and claims history
• Level of coverage chosen
• Your deductible (the amount you agree to pay before your insurance starts – many companies allow you to increase your deductible to lower your monthly premiums)

💰 The overall average for homeowners insurance in the US is $2,490/year for $400,000 worth of coverage (2026). This ranges from $900/year in Hawaii to $7,255/year in Oklahoma, as well as ranging according to city, company, coverage amount, property age, deductible amount, and applicant profile.

Renters insurance in 2026 averages around $153/year nationally, ranging from $89/year in Wyoming to $349/year in Rhode Island. Again, average premium costs range according to factors including company, coverage amount, deductible, and applicant profile.

🔢 You can estimate your likely costs using this Bankrate calculator, and compare policies on websites such as Insurify.

Renters insurance in the US

Renters insurance in the US is broadly similar to home contents insurance, but typically also includes personal liability coverage and additional living expenses. It covers movable belongings rather than the structural property, which is insured by the landlord.

Renters insurance is not legally required, but landlords often require it as part of a lease, particularly because it includes liability protection against injury to third parties or damage to property.

Standard homeowners policies include contents coverage, while renters insurance is issued as a separate policy type (HO-4).

🛡️ Renters insurance typically protects belongings against perils such as:

• Fire
• Theft
• Vandalism
• Certain water damage (e.g., from plumbing)
• Specific weather-related events like windstorms or hail
• Damage caused by vehicles (e.g., a car hitting the property)

Flood and earthquake damage are usually excluded and require separate policies.

Covered items generally include personal belongings such as furniture, electronics, and bicycles. Items owned by the renter are covered, while appliances provided by the landlord are not.

Policies may reimburse losses based on actual cash value or replacement cost, depending on coverage. Many policies also include additional living expenses if the home becomes uninhabitable.

Homeowners insurance in the US

Most homeowners insurance policies cover the structural property, personal belongings, and liability for injury or property damage to third parties. While not legally required for either owner-occupiers or landlords, it is typically needed for mortgages in the US.

Common policy types include:

• HO-1: Basic coverage that often doesn’t include contents, rarely offered by insurers today.
• HO-3: Standard policy including building coverage and named-perils coverage for contents.
• HO-5: The most comprehensive coverage, includes open-perils coverage for both building and contents, typically with full replacement costs and higher limits.
• HO-6: Condo insurance covering interior structure and personal property.
• HO-7: Mobile home insurance, similar in content to HO-3 insurance.
• HO-8: Designed for older or historic homes where rebuild cost exceeds market value.

Most standard policies policies consist of six coverage parts:

• Dwelling coverage (Part A): Protects the home’s main structure
• Other structures (Part B): Covers detached features such as garages, sheds, or fences
• Personal property (Part C): Covers personal movable property
• Loss of use/additional living expenses (Part D): Pays for temporary housing and related costs.
• Personal liability (Part E): Protects against accidental injury to others or damage to their property.
• Medical payments (Part F): Covers certain medical costs if a third party is injured in your home.

💡 Common exclusions for most policies are:

• Flood damage
• Earthquake damage
• Mold
• Pest infestations
• Business equipment costs (e.g., if you have a home office)
• Liability for pets
• Highly valuable contents, e.g. expensive art or jewellery
• Certain additional areas, such as outdoor pools

These are sometimes excluded from comprehensive (HO-5) policies, especially regarding flood and earthquake coverage, so check the details before taking out coverage.

Liability insurance in the US

Liability insurance typically forms part of most renters and homeowners insurance in the US. It covers claims made by third parties for bodily injury or property damage caused by you, members of your household, or your home – often including legal defense costs.

⚠️ Coverage limits vary significantly between policies, so it’s important to review them carefully to ensure they meet your needs.

How to choose your home insurance in the US

When shopping for home insurance in the US, consider other factors aside from price. The cheapest policy might not be the most suitable for your needs.

💡You might also want to think about:

• How flexible is the policy? What’s included and excluded, and can you tailor it to meet your requirements?
• Can you lower your premiums in any way? For example, bundling your home insurance with other forms of insurance, paying a higher deductible, or using a no-claims bonus?
• Are there other incentives or special offers? Some insurance companies partner with other businesses such as gyms, cinemas, or restaurants for discounts elsewhere.
• How does the company rate on feedback websites such as Trustpilot?
• How straightforward are the claims and cancellation processes?
• Does the company perform well in terms of ethics, sustainability, or Corporate Social Responsibility (CSR)? You can check sites such as CSRHub or Corporate Knights.

For further advice on buying homeowners insurance in the US, you can check the NAIC consumer page and the Bankrate guide on how to buy homeowners insurance.

Applying for home insurance in the US

Applying for home insurance in the US is fairly straightforward. Most companies will ask you to fill in a quote form to calculate your annual premium. This involves submitting your personal details as well as information about the property and the insurance you require. You can then usually proceed with your application online, or a local agent will contact you.

You may be asked to provide:

• Valid ID
• Proof that you own the home if taking out homeowners insurance, e.g., deeds or mortgage agreement
• Property details (e.g., age, size, type)
• Information on belongings covered (e.g., estimate of total value)
• Your insurance history, including prior claims

You’ll usually receive your policy documents electronically. Coverage is bound once you accept the terms and make your first premium payment, and begins on the effective date of the policy.

Documents including an information pack, terms and conditions, and your individual policy number are typically sent electronically, although you can request hard copies if you prefer.

US home insurance policies typically last for 12 months and are usually auto-renewing unless cancelled or non-renewed by the insurer. Your insurer should send a renewal notice around 30–60 days before the end date, detailing any changes (e.g., premium adjustments).

How to make a home insurance claim in the US

The home insurance claims process varies between insurers, so check your policy documents or the company’s website for specific instructions. In general, you should start by contacting your insurer as soon as possible. You can often do this online, although you can also use phone or post.

You should take reasonable steps to prevent further damage (for example, covering a broken window or stopping a water leak) and document the damage with photos or videos. You’ll usually need to complete a claims form and provide supporting evidence depending on the nature of your claim.

💡For incidents such as burglary or vandalism, you should also notify the police and obtain a report.

An insurance company may send a claims adjuster to inspect the damage and assess the value of the loss. Keep in mind that most policies include a deductible, which is the amount you must pay out of pocket before insurance coverage applies.

Timelines vary by state and insurer. While some claims may be resolved within a few weeks, more complex cases can take longer. There is no single nationwide deadline for insurance companies to settle a claim, so it’s best to check with your state’s Department of Insurance for local rules.

Cancelling a contract or changing provider

You can cancel a home insurance contract or change to another provider at any time, although your insurer may charge a cancellation fee if you break before your policy’s expiration.

To cancel, you should contact your insurer and follow the procedures outlined in your policy documents or on their website. Cancellation can often be completed online, by phone, or in writing. If you are switching to another provider, you will usually need to arrange the new policy yourself and then cancel the old one – new insurers do not typically handle the switch automatically.

You can use comparison websites to find alternative policies, and some platforms allow you to purchase coverage directly.

⚠️ Bear in mind that your insurance company can cancel a contract for reasons such as non-payment of premiums or violation of policy terms.

They will usually have to provide advance notice in writing, although the exact rules vary by state. You should check your policy and your state’s insurance regulations for details.

Making a complaint about a home insurance company in the US

If you wish to complain about your insurance provider, you should first contact the company directly. Most insurers have a complaints process and a team for handling issues, which they should inform you of when you sign up.

If you are not satisfied with the outcome, you can file a complaint with your state Department of Insurance. The NAIC website has information on how to file a complaint.

Holiday home insurance in the US

If you have a vacation property in the US, you’ll usually need to take out separate holiday home insurance – also known as vacation home insurance or second home insurance. Most standard homeowner insurance policies only cover the primary home, as additional properties have specific risks.

These include:

• Long unoccupied periods – many standard policies become void after 30–60 days empty
• Greater risk of theft or damage
• Higher liability risk if rented out, as more people will be using the property

Many insurance companies offer tailored vacation home insurance alongside standard homeowner insurance, so there may be a chance to bundle the two types together. Some second home coverage also includes protection against loss of rental income if the property becomes uninhabitable due to an insured event.

Managing property expenses from abroad

Open a Wise account to hold 40+ currencies and make it easier to manage your property expenses and pay for things when you travel.

If you are managing a property from overseas, you can use a Wise multi-currency account for easy payments to local providers. You can hold and exchange 40+ currencies, including USD, using the mid-market exchange rate with transparent fees.

Useful resources

Information last checked on 24th March 2026.

• National Association of Insurance Commissioners (NAIC) – national body that supports regulation of US insurance and provides consumer information
• Insurance Information Institute (III) – provides information and research on US insurance
• Bankrate – provides consumer advice, information, and comparison tools on various financial services
• Bankrate home insurance calculator
• Insurify – insurance comparison website