Homeowners insurance, also known simply as home insurance, is a necessity for any homeowner. A good homeowner’s insurance policy is not only required by most mortgage lenders, but could save you a lot of money if disaster strikes and you need to make a claim.
Homeowner’s insurance safeguards your most valuable asset by covering the cost of repairing or replacing your home and its contents. We also have you covered in the event of personal injury or other damage, as well as any additional expenses.
After countless hours of research, the Home Media reviews team has determined that the following seven companies are the best home insurance providers currently available.
Homeowners Insurance Providers
The Home Media reviews team conducted extensive research and identified the top homeowners insurance companies as follows:
State Farm
- Our Pick For: New Homeowners
- A.M. Best Rating: A++
- JD Power Rating: 835/1,000
One of the biggest insurers in the US, State Farm is present in all 50 states, albeit not all of them offer online quotations. Additionally, State Farm provides sizable discounts for bundling and claim-free periods. In contrast to standard contact centers and online claims, the provider’s network of local agents offers personalized customer service and a claims filing experience with an agent close to you, which some homeowners may prefer.
Allstate
- Our Pick For: Extended Coverage
- A.M. Best Rating: A+
- JD Power Rating: 829/1,000
Since 1931, Allstate, one of the biggest insurance companies in the country, has provided coverage to homes all throughout the country. It is a reputable insurance provider with an AM Best rating of A+ (Superior). Allstate offers discounts for bundling multiple policies, and in addition to house insurance, company also offers auto, renters, life, and motorcycle insurance.
Its comprehensive homeowner’s insurance plans include liability coverage and personal property coverage that may be customized. On its website, Allstate also offers a home value estimator to assist homeowners in determining how much dwelling insurance they could require.
Lemonade
- Our Pick For: Fast Claims Process
- A.M. Best Rating: N/A
- JD Power Rating: N/A
Lemonade is a relatively young player in the house insurance market, but since 2015, it has worked to simplify the home insurance buying process and speed up the processing of claims.
Additionally, it provides life insurance, pet insurance, and renters insurance. Customers can save money by combining multiple policies.
Currently, Washington, D.C., and the following 23 states provide Lemonade homeowners insurance:
Nevada, New Jersey, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Texas, Virginia, and Wisconsin. Arizona, California, Colorado, Connecticut, Georgia, Illinois, Indiana, Iowa, Maryland, Massachusetts, Michigan, Missouri.
Geico
- Our Pick For: Optional Coverage
- A.M. Best Rating: A++
- JD Power rating: N/A
In spite of the fact that Geico is most well-known for its auto insurance, the company also offers some remarkable features for homeowners insurance. Geico is available in all 50 states and provides affordable base coverage in addition to an astounding number of additional coverage options. In contrast to many of its competitors, Geico does not write its own policies but rather contracts with other insurance providers to provide coverage.
Homeowners who already have Geico auto insurance and want to keep all of their insurance policies in one place can benefit greatly from this option. Even though it is simple to obtain quotes without communicating with a Geico representative, the company has a large number of employees standing by to assist you in person if you would rather have that kind of interaction.
Which of These Homeowners Insurance Companies Is the Best Fit for You?
The owner’s insurance covers more than the absolute minimum required. The purchase of a solid policy can give you increased peace of mind that you will be protected financially in the event of unfortunate occurrences such as burglary or natural disasters. After conducting an in-depth analysis of hundreds of home insurance providers, we found that the ease of use and reasonable prices offered by Lemonade, as well as Allstate’s widespread availability, wealth of market knowledge, and variety of discount options, particularly stood out as particularly impressive.
Despite this, every homeowner and every house is different; there is no “one size fits all” solution. It is imperative that you conduct your own analysis of your options due to the fact that the extent of coverage and the associated costs will vary depending on a variety of factors. We strongly suggest getting estimates from at least three different insurers before investing in a home insurance policy. These estimates should be tailored to your specific requirements.
You can get instant quotes from local insurance providers by entering your ZIP code on this page or calling the toll-free number 855-948-5219.
How to Determine Which Homeowners Insurance Policy Is Right for You
When it comes to selecting a home insurance provider and policy, there are a few steps that you need to take in order to ensure that you get the coverage that is most suitable to your needs.
You must first determine the value of your property before you can set the annual limit for your homeowner’s insurance policy, which often has an effect on the limits of your other coverages.
Have a qualified professional home inspector examine your property and provide you with an official estimate of how much it would cost to rebuild your home. This is the best way to guarantee that you will obtain the exact amount of coverage that you require. Nevertheless, during the process of obtaining a quote, you can make use of the home value calculation tools that are provided by a number of the most reputable home insurance companies. They will investigate the specifics of your home and the surrounding area in order to provide you with an estimate regarding the amount of dwelling coverage they recommend you purchase.
The following is some supplementary guidance that should be helpful to you when selecting the most suitable homeowner’s insurance provider and plan:
Determine the scope of your coverage. In addition to the value of your home, you should determine how much liability and personal property protection you require. Typically, you can customize these options when you request quotes from different providers. Depending on the total value of your possessions, you should generally aim to have your personal property coverage equal between 50 and 75 percent of your dwelling coverage. This will ensure that, in the event of an accident, you do not have insufficient insurance coverage.
Consider the availability of supplemental insurance options: Identifying the right insurance provider and policy for you could be simplified by the provision of additional, optional coverage. For instance, if you have a pool in your backyard, you may want to purchase the add-on swimming pool liability coverage that is offered by Lemonade. Alternatively, if your home is part of a homeowners association (HOA), you may want to consider purchasing the loss assessment coverage that is offered by State Farm. This coverage can help defray unforeseen HOA fees in the event that a shared space is damaged by a covered event.
Taking a look at the prices. Before deciding on a home insurance provider, one of the most important steps you should take is to solicit price estimates from a number of different companies and make comparisons. Your credit score, the particulars of the property, and your zip code are some of the factors that can affect the price, which can vary from one company to the next.
Articles to be reviewed concerning home insurance: During the course of our research on the market for homeowners insurance, we went through more than one hundred client endorsements that were published on third-party websites such as ConsumerAffairs and the Better Business Bureau (BBB). The refusal of claims by local adjusters and unsatisfactory service from the company are two common complaints. Read a few customer reviews of each insurance provider that you are considering before making a decision. To assist you in reducing the number of possibilities available to you, keep an eye out for an unusually high number of critical comments.
The typical annual premium for homeowners insurance, broken down by state.
According to the report on average premiums in the United States that was published by the Insurance Information Institute in 2021, the national average annual rate for homeowners insurance in 2018 was $1,249 across the entire country. When compared to the examples of quotes for state-specific providers that we have provided below, this average is as follows:
The following states are included in this compilation: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, and Texas. Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia
The Benefits of Bundling Your Home and Auto Insurance Together
Combining your homeowners insurance and auto insurance is one of the most effective ways to lower the total cost of the premiums for both policies, as the majority of providers of both types of insurance offer sizeable discounts for customers who combine their policies. Having all of your insurance policies managed under one roof, however, offers advantages in addition to cost reductions. These advantages include the simplification of the process of obtaining quotes, as well as assistance in the management of your policies and the filing of claims.
If you already have coverage for your vehicle, an excellent place to start is by investigating the various types of insurance policies that are provided by your current insurer. After logging into your account, you have the option of obtaining a quote either online or by speaking with a customer service representative. Once you have selected a house insurance plan, you will be able to use the same account to manage both of your insurance policies.
Reduced premiums for homeowners insurance
You may qualify for one of the many discounts that are made available by the most prominent home insurance providers, which will bring your monthly premium down. The following are some of the typical discounts that are made available within this industry; however, discounts will vary depending on the provider.
Consider speaking with a member of your provider’s support staff so you can find out which of these discounts are available to you.
- Homeowners who haven’t made a claim in a particular amount of time are eligible for this discount.
- Bundling multiple policies from the same source will typically result in lower rates if your supplier offers additional insurance products, such as auto insurance.
- Protective equipment: Your home will be protected from several covered risks by items like a sprinkler system, fire extinguisher, burglar alarm, and fire alarm.
- Your insurer will probably reduce your rate if your property has safety features.
- Weather-resistant roofing: If your roof was recently replaced to shield your house from wind- and hail-related damage, you might be qualified for this discount.
- New construction: Compared to previous homes, newer dwellings are typically safer and more durable. Your home insurance premiums might be less expensive if it is a new development.
- Residence in a gated neighborhood: Your home is less likely to be burglarized if you live there. For this, your insurer might offer a discount.
FAQs about Home Insurance Companies
- How do house insurance deductibles operate?
- What does home insurance not cover?
- What steps must I take to buy homeowners insurance?
- Why is my homes insurance so expensive?
- Is home insurance necessary?
- What does the 80/20 rule mean?
Methodology
Our team evaluated the quality and level of service offered by numerous house insurance companies by conducting surveys and developing a score system. To replicate an actual customer experience, we request sample estimates online and over the phone. The following variables affect how we evaluate our providers:
- Coverage (20%): To assess the level of coverage, we examine each provider’s coverage options, policy endorsements, and coverage limits.
- Customer service (15%): We also assess each business’s customer service offerings, including live chat, a customer care phone line, and agent availability.
- Technology (15%): In a similar vein, we give providers points for their use of digital resources such mobile apps, comparison websites, and quote requests.
- Reputation (15%): We examine customer feedback, third-party financial strength ratings, and customer experience evaluations to determine reputation.
- Additional perks (15%): We also considered the extra benefits offered by each business, such as discounts and endorsements of particular insurance policies.
- Cost (20%): To determine how competitively priced each provider is, we analyze cost information for houses across the nation.
The finest businesses offer 24/7 accessibility, informative materials on their website, practical digital tools, and an easy claims filing process. We recommend these providers to readers at the top of our list because they score much higher than those that do not offer broad discount possibilities, endorsements, customizable coverage options, and distinctive features.