Home Insurance in Delaware
The median home value in Delaware is $352,000.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Delaware was built around 1987. About 21% of homes were built before 1960.
The housing stock in Delaware is 75% single-family homes, 14% apartments in buildings with 5+ units and 7% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 64% of owner-occupied homes in Delaware have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 73% of occupied homes in Delaware are owner-occupied. The vacancy rate is 13%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
42% of homes in Delaware are primarily heated with natural gas. Homes heated with propane and fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
In Delaware, the statewide average premium for a standard HO-3 homeowners policy is $1,196 per year (NAIC, 2023 data).
Key figures
| Median home value | $352,000 |
|---|---|
| Median year built | 1987 |
| Owner-occupied share | 73% |
| Share of owner-occupied homes with a mortgage | 64% |
| Home insurance premium | $1,196 - statewide average (NAIC, 2023 data) |