Choosing the best home insurance company depends your personal needs as a homeowner. Find out what companies work best for you.
For most people, their house is their biggest and most important asset. That's why buying the right home insurance plan is so important. You want to have the best possible home insurance coverage to protect yourself from the unexpected.
But how do you find the best home insurance company? Everyone's coverage needs are different depending on where they live, their house, their belongings, and more. Simply selecting one insurance company as 'the best' doesn't tell the whole story.
We've compiled a list of the best home insurance companies across different categories. Whether you're looking for extensive coverage, great customer service, or flexible policies, we've got you covered. Whether you're a dog owner, senior, or a first-time home buyer, we've got you covered.
With so many available options, narrowing down every insurance company into a list of the 'best' ones is a delicate process. Here are the factors we considered:
Remember, choosing the best home insurance company is subjective. What's best for you, your home, and your state won't be the best choice for someone else. With that said, some companies stand out across the board.
Amica is our best overall home insurance company. Why? They performed well in every category, claiming the top spot in both J.D Power and Consumer Report's consumer satisfaction ratings. Amica's customer service, especially for claims, is a strong point. While that's an area other insurance companies struggle with, Amica excels.
Beyond their impressive customer service, Amica boasts great policy offerings. Policies are extensive and easy to tailor. A 15 percent bundling discount is just one of their many available discounts. And the company has a network of over 2,000 contractors, making home repairs easy.
Erie earned great marks for customer satisfaction from both J.D. Power and Consumer Reports. Customers report excellent service from Erie through all facets, including the claims process.
Their next strong point is their extensive coverage. Erie's base policy includes 100 percent guaranteed replacement cost. That means damage estimates don't account for depreciation. Their personal property protection covers hard-to-replace items like deeds and passports. It also covers 'mysterious disappearances,' which many insurers exclude.
Erie states that their base policy comes with fewer exclusions than the typical competitor policy. Unexpected exclusions are a common pain after a claim, so Erie earns points there.
Erie is only available in 12 states, which is a knock. But their policy offerings and customer service ratings are too strong to not be on this list.
Though MetLife is best known for life insurance, the 150+ year old company offers policies across the insurance industry. And their home insurance offerings scored well with both J.D. Power and Consumer Reports.
Since MetLife sells several insurance products, bundling is easy. Their policies are relatively straightforward, and their website is a helpful tool to better understand home.
MetLife loses points because they require you to use in-network contractors for repairs. If you have a preferred contractor you've worked with in the past, MetLife isn't your best choice.
Don't let the name fool you: Auto-Owners also offers insurance for homeowners. And it seems that homeowners like their offerings. Their home insurance product is highly rated by J.D. Power and Consumer Reports.
Auto-Owners home insurance policy includes all the basics and some optional coverages. You can add guaranteed home replacement cost, water backup coverage, equipment breakdown protection, and more. And if you don't want mix and match, their Homeowners Plus package offers a lot in one easy bundle.
If you prefer to handle your insurance business online, Auto-Owners might not be for you. They rely on agents to sell and change policies. Same goes for filing a claim. But their motto is 'No Problem,' and they receive top ratings for their handling of claims.
Nationwide's homeowners insurance policy aren't the cheapest, but for a good reason. The company boasts good customer satisfaction. Policyholders can do most of their business online. That includes filing a claim, getting documents, making payments, and changing coverage.
Nationwide also offers 'Brand New Belongings' coverage. When your stuff gets damaged or stolen, you get money for the depreciated value of those items. After you buy new items, you get reimbursed for the difference.
Being one of the biggest insurance companies in the country comes with pros and cons. With multiple products, you can easily bundle. But, due to Nationwide's size, some customers complain that they feel forgotten when it's time to file a claim.
The Hartford is AARPs home insurance provider, and they offer great policies for senior citizens. Their offerings include pre-packaged policies like Advantage and Advantage Plus. They offer extra coverage like 'New for Old’ personal property protection and equipment breakdown coverage, plus much more.
Shopping for home insurance with The Hartford is easy thanks to these pre-packaged policies. And if you need more coverage than offered by the default policies, you can always boost your policy. The add-on options – ranging from assisted living care coverage to green home rebuilding – are extensive.
You can also feel safe knowing that The Hartford offers strong identity theft protection. Senior citizens are prime targets for identity theft scams. The Hartford is there to stop them.
Shopping around and getting quotes for different home insurance policies takes time and effort. Liberty Mutual makes it easy with their simple quote process.
Unfortunately, Liberty Mutual doesn't have the cheapest policies. But they do offer all the standard coverage options and more. If you need additional protection, they sell a Home Protector Plus policy add-on. It covers unforeseen costs to rebuild your home or replace your belongings. Liberty Mutual also offers all the standard discounts.
If you prefer in-person help, look elsewhere. Liberty Mutual doesn't rely on agents for their customer service.
Travelers received solid ratings from both J.D. Power and Consumer Reports. The company also earned the best possible financial strength rating from A.M. Best.
Their website only lists an unimpressive five potential discounts. And as one of the largest insurance carriers in the country, some customers report feeling neglected when they need help.
What sets Farmers apart from the competition? Their commitment to environmentally friendly homes. They offer discounts for green homes, and a policy add-on that grants $25,000 to repair home damages with green contents and materials.
Even if environmental responsibility isn't your thing, Farmers has more to offer. That includes claim forgiveness, which prevents a premium increase after one claim. Farmers also knocks $50 off your deductible each year.
Farmers is middle of the road when it comes to claim satisfaction. On top of that, their policies aren't available nationwide.
State Farm offers several insurance policies, including homeowners. It's also America's largest insurance company with over 10 percent of the country's market share. The company's substantial resources mean they can offer excellent customer service and fair claim payouts. That can also mean that some policyholders feel neglected in the sheer size of the company.
Their home insurance offerings include run of the mill coverage. But homeowners have plenty of opportunities to enhance their coverage with riders and endorsements. While many home insurance companies charge higher rates for homeowners with risky dog breeds or exotic pets, State Farm does not discriminate by breed. That's an attractive feature for dog-owners.
For such a large company, their website is outdated and their online home insurance resources are somewhat bare. And their mobile app offers little support in terms of home insurance.
Allstate's motto is 'you're in good hands.' Does their home insurance live up to that lofty line? Sort of.
The company earned middle-of-the-road reviews from J.D. Power and Consumer Reports. Like State Farm, their status as one of America's largest insurance companies is both a blessing and a curse. They're able to offer competitive prices and significant resources. But some customers feel neglected when they need help – even with their extensive agent network.
Regarding their home insurance policies, Allstate offers all the basics and more. Policy features include their Claim RateGuard, which protects your premiums from jumping after a claim. Allstate also offers numerous discounts, and their other insurance offerings make bundling easy.
AmFam has all the necessary basics and more. Looking for sewer backup protection? They got it. Want to protect your identity? They got it. There's also a solid selection of discounts to help you save money.
If you're app-friendly, AmFam offers a solid app where you can connect with an agent, pay your bill, and more. You can submit claims online, and their website includes buying guides and a nifty coverage calculator. Finally, American Family has policies that cater to Smart Homes. Their discounts and riders are great for tech-laden homes.
Their customer service ratings won't knock your socks off, but they're not a deal breaker, either.
Popularity doesn’t directly correlate with being the best, but it’s still interesting to consider. These are the most popular insurance companies according to our website users:
With so many different insurance companies competing for your business, how do you pick the right one? It's not easy, especially if you're not knowledgeable on the ins and outs of insurance. Fortunately, understanding your home insurance needs is easier than you think.
Ask yourself one question: How much coverage do you need?
You want enough insurance coverage to rebuild your house and replace all your stuff incase disaster strikes. So how do you figure out how much that is?
Homeowners policies come in basic, broad, or special forms. These policies differ on what they cover and exclude. The most common policy type is the special form. Regardless of what form you choose, a home insurance policy consists of four coverage components:
First, you need to calculate your home's replacement cost to establish how much structure coverage you need. This is the dollar amount required to build your house from the ground up. There are several ways to do it, from estimating yourself to hiring an appraiser.
Second, you need to create an inventory list of your possessions to calculate your belongings coverage amount. This entails itemizing all your stuff with price tags and photos, if possible. Usually personal property coverage is set between 20 to 50 percent of your dwelling coverage amount. If you need more, add a rider.
Third, liability coverage is extremely important. Most policies come with $100,000 in liability coverage, but it's recommended you purchase $300,000 in coverage. That's especially true if you have high-value assets to protect. If want a coverage level higher than $500,000, consider an umbrella policy. It boosts your liability limit by $1 million increments.
Finally, your additional living expenses (ALE) coverage amount depends on your home insurance policy form. The special form, the most common home insurance policy, sets your ALE at 30 percent of your dwelling limit.
Once you have an idea of your preferred policy type and amounts, it's time to find and buy it. How do you do that? You shop around and compare quotes from different home insurance companies. That's where QuoteWizard comes in. Instead getting multiple quotes from different companies, we simplify the process by connecting you with all of them at once.
A: That depends on many factors. What kind of home do you have? Where do you live? What's your claim history look like?
Average home insurance rates vary quite a bit from state to state. In Florida, for example, an average policy costs about $2,000 per year. On the other end of the spectrum, a policy in Oregon costs about $700 per year. Check out the average annual cost of home insurance in your state.
It's hard to guess what you should pay for home insurance. But you can compare your premium to your state's average premium. It may differ if, for example, you have a custom home, high coverage levels, bad credit, or more.
A: If your home insurance is getting more expensive, you're not alone. Rates are increasing across the country, primarily due to an increase in natural disasters and high construction costs. Natural disasters are costing the insurance industry quite a bit of money. Those expenses are, in turn, passed on to you.
Unfortunately, there's nothing you can do to stop these national trends. You can, however, do your part to lower your own costs. That includes looking for discounts, remodeling your home, shopping around to compare quotes, and more.
A: Every homeowner has their own insurance needs. That means that everyone's definition of a 'best' insurance company is different. But according to QuoteWizard users, these are the most popular home insurance companies:
Now, just because these companies are popular does not mean they're the best. Best is subjective.
A: That depends on what you're looking for from your insurer. Do you want in-person service from an agent? Do you want the cheapest policy? Or a premium policy with extensive coverage?
Though standard policies are often similar, every company has their own unique attributes. It's up to you to identify your needs and find a company that matches them. We can help you do that.
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