Finding the best homeowners insurance for you means researching companies with coverage and rates that fit your needs and lifestyle. MoneyGeek rated and ranked some of the biggest names in the home insurance industry based on their pricing, coverage, customer reviews and more.
MoneyGeek also ranked companies at a local level if you want to find which company provides the best service in your state. Whether you're looking to insure a high-value home, want to find the best rates, or need a provider with flexible options, MoneyGeek's list can help you find the best homeowners insurance for your needs.
If you’re looking for the best homeowners insurance company — and not just the cheapest home insurer — you should look for an insurer that balances price and service.
MoneyGeek’s rating system found that Allstate offers the best blend of affordability, customer satisfaction and financial stability. USAA scores highly in every category, but it is not included in this ranking because it is only available to military members, veterans and their families.
MoneyGeek combined data from J.D. Power and AM Best with overall affordability ratings to create a unique ranking scale for some of the most popular insurance companies in the country. Each individual factor is rated on a scale of up to five points, with an overall company rating out of 100.
Allstate offers various coverages that you can add to their standard homeowners policy, including yard and garden insurance, electronic data recovery and identity theft restoration. They also offer bundling discounts, allowing you to save money if you have multiple policies with the same company. Additionally, they have several online tools, including a rent vs. own calculator and an online quote feature to help you choose which coverage is right for you.
Nationwide offers additional coverages beyond their standard homeowners insurance, including their exclusive Brand New Belongings and Better Roof Replacement coverages. The company provides many discounts, including a multi-line discount, and offers online services that allow you to manage your policy through their website 24 hours a day. One of their biggest selling points is their home renovation credit, which gives you a discount on your insurance when you update your plumbing, heating, cooling or electrical systems.
Travelers offers additional benefits beyond standard homeowners insurance, including identity fraud, water backup and sump pump discharge and green home coverages. The company also provides landlord insurance, allowing you to protect your property even if you're not the one living in it. They even offer a program called Home Central that gives home maintenance and protection tips through your Alexa, allowing you to ask for advice and get an immediate response.
State Farm offers all the standard home insurance coverages, but they also offer additional coverage for home and garden items, as well as keepsakes and hobby items like cameras and sporting equipment. The company provides coverage for a variety of homes, including condos, manufactured homes, farms, ranches and rental properties. State Farm offers bundling discounts and an online quote system that allows you to get a quote on a policy anytime, day or night.
MetLife offers traditional home insurance coverage, but they also offer customizable coverage to meet your specific needs. The company includes potential legal fees under your liability coverage and offers identity protection services with every policy they sell. They have 24/7 claims service available to their customers. MetLife’s biggest selling point is the significant discounts they offer for employer groups and associations affiliated with the company, sometimes as much as 40% or more.
Chubb offers standard home insurance coverages, but they also provide an extra home appliance and equipment benefit for customers who elect their Masterpiece-level coverage. This coverage pays for damage and breakdowns that happen out of the blue (instead of normal wear and tear). Chubb also has risk consulting available for its customers, which allows for complimentary home appraisals so you can be sure you have the right amount of insurance for your needs.
Farmers offers three levels of traditional home insurance coverage: Standard, Enhanced and Premier. They also provide coverage for several non-standard home uses, including vacation homes, investment properties and vacant homes. Farmers also has a declining deductible, which means that your deductible decreases by $50 each year the policy remains in force. You can also receive a discount if you go three or more years without filing a claim.
Homeowners insurance protects what is likely your most significant financial asset — your home. Competition between insurance companies is fierce, so they try to make themselves stand out in different ways. Some companies target specific customers — like USAA and their focus on military members — while others focus on offering unique benefits you won’t be able to find anywhere else.
USAA only offers coverage to military members, veterans and their families. Because they have such a specific customer base, they can charge lower rates than most of their competitors in almost every category.
In addition to offering affordable insurance, they provide resources to help people transition into and out of the military and help those who are currently deployed. Their goal is to be a one-stop shop for American military members, so in addition to offering traditional insurance products (homeowners, renters, auto, etc.), they also have life, health, dental and vision coverage for their customers.
Lemonade is a unique insurance company, offering relatively low premiums and a fully online approach to the claims process. Lemonade is a public benefit corporation, which means that they are legally allowed to prioritize their customers’ needs and wants over those of their shareholders.
Lemonade will take a percentage of your premium to pay for the basics (salaries, overhead, etc.), and the rest is used to pay claims — you can donate anything leftover to a charity of your choosing. Keeping all of their business online helps them keep their overhead costs low. This distinctive approach to insurance, paired with their Demotech financial stability rating of A- and excellent customer reviews, makes them one of the top homeowners insurance companies online.
Typically, when people think of the best home insurance, they think of the lowest price or the most comprehensive coverage. Erie gives this concept a twist by offering a significant range of policy options for its customers.
Though they provide the same basic packages as most other insurance companies (homeowners insurance, renters insurance, condo insurance, etc.), they also offer coverage for mobile homes and RVs.
While most companies encourage their customers to reach out to FEMA, for flood insurance, Erie offers flood insurance as one of the many coverages they carry. They even offer auto insurance for almost any vehicle, from your daily-use sedan to ATVs and golf carts.
When it comes to customer satisfaction, Farmers is at the top of the list. MoneyGeek’s research shows that Farmers ranks highly with J.D. Power for customer service, making them a great option if you prioritize customer support.
Customers seem to love working with Farmers, in large part because Farmers uses an agent approach to selling insurance. Buying a policy or getting a quote online might be easy and convenient, but having an agent who builds a relationship with you over time provides a top-notch customer service experience.
People with expensive or luxury property will find policies specifically designed to meet their needs at Chubb. A Chubb policy also has the option to select higher liability limits than standard homeowners insurance, with coverage of up to $100 million.
The Chubb Masterpiece insurance policy covers many things that are important to wealthy clientele, including the restoration of electronic data destroyed by a computer virus and property management services. They even have contracts with certified wildfire firefighters to help protect homes from the wildfires that are so common on the West Coast.
Chubb claims agents have the authority to pay a claim immediately, but cannot deny a claim without a manager’s approval because they want to make filing a claim as painless as possible.
Allstate ranks first in this category because of their low overall rates. The average price range for home insurance across the nation is $1,795–2,283 per year, with Allstate offering the lowest rates in that range. However, these rates are averages, and it's important to get your own quote from at least three insurers to compare costs.
Part of the reason Allstate’s rates are so low is the incredible discounts they offer, such as a multi-policy discount of up to 25% and a claim-free discount of up to 20%. Allstate also provides a responsible payment discount, a protective device discount and an early signing discount.
Bundling homeowners insurance and auto insurance with the same company is a great way to save money. But you’ll want to make sure you’re getting great rates and great service for both product types. Our pick for the best home and auto bundle company is State Farm.
State Farm ranks above average for customer satisfaction for both home insurance and auto insurance, according to J.D. Power. You’ll get great value for your money, too, as State Farm is the most affordable widely-available insurance company when accounting for bundling discounts. MoneyGeek found that a State Farm bundle costs an average of $2,534 per year.
Because laws and regulations vary from state to state, the best company in each state may vary. Just because a company has the best combination of rates and service in Texas doesn’t mean it also will in Michigan. Therefore, it’s essential to research which company has the best coverage and rates based on your location and circumstances.
MoneyGeek rated the best homeowners insurance companies based on insurance costs and customer service reputations within that state. The companies that ranked as the best in the most states include:
This analysis excludes USAA because if its eligibility requirements. Homeowners who do have a military background should look into USAA, which consistently rates as one of the best home insurance companies across the country.
In all, MoneyGeek found that 10 different companies rank as the best insurance company in at least one state. Find your state below and use our resources to learn more about the top homeowners insurance companies where you live.
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There are many factors you should consider when choosing an insurance company, including:
Some of these things may be more important to you than others, so consider your priorities and research which companies offer the best coverage for your situation.
A lot of factors should be taken into account when choosing a home insurance company. The following are some of the most common questions shoppers have about home insurance policies.
Home insurance can be a confusing topic, making it difficult to get all the answers you need before you make a purchase. MoneyGeek spoke to experts, industry leaders and academics across the country to gain expert insight on homeowners insurance.
Principal Agent and Owner at Lines Insurance
Managing Partner at Sawan and Sawan
Trial Attorney, Simeone & Miller, LLP
Certified Financial Planner Professional & Personal Finance Professor at the Bauer College of Business at the University of Houston
Professor and Howard Phillips Eminent Scholar Chair in Real Estate at the University of Central Florida
Assistant Professor of Property Management at Virginia Tech
Assistant Professor of Accounting at Austin Peay State University
Associate Professor of Finance and Economics at Texas A&M Texarkana
Agent Broker at Insurance Group of Denver
Insurance Agency Owner
Assistant Professor, Finance and Economics at Coastal Carolina University
Associate Professor of Finance at The Texas A&M University
Earle W. Kazis and Benjamin Schore Professor of Real Estate at Columbia University
Assistant Professor of Finance, University of California San Diego Rady School of Management
Founder of InterNACHI and Certified Master Inspector®
Associate Professor of Finance and Economics at Florida Southern College
Assistant Professor of Marketing at Texas A&M University - Corpus Christi
President, Petschauer Insurance
Assistant Professor, Department of Management, Central Michigan University
Schott-van den Eynden Professor of Business Law at Case Western Reserve University School of Law
Adjunct Professor at the Antonin Scalia Law School at George Mason University
Agency Owner of Insurance Brokers Group
Vice President at Lapointe Insurance
Associate Professor of Marketing at Lynn University
Assistant Professor of Finance at California State University, Fullerton
Assistant Professor of Marketing at Southern Illinois University
CFP®, Imagine Financial Services
Associate Professor & MBA Program Director in the Satish & Yasmin Gupta College of Business at the University of Dallas
Associate Professor of Finance at The University of New Haven
Financial Planner at BCR Wealth
Financial Advisor, MBA, CHfC
Wealth Consultant at Genex Consulting
Senior Partner at Keeler Thomas Management
President and CEO of Kennedy Investment Group & Kennedy Insurance Services
Chief Executive Officer of Jedi Management, Inc. and Lifeco Associates, Inc.
Financial Planner, Founder & Partner at Harvest Point Wealth Management
Financial Advisor at Aznar Financial Advisors, LLC
Analyst/Certified Financial Planner™ at Access Wealth
Financial Advisor at Summit Financial Strategies
Financial Advisor, CFP® at Northright Financial
Co-Founder & Chief Legal Officer at Florida Peninsula Insurance Company
Associate Professor of Real Estate at California State University, Northridge
Esq., CFP (R), Senior Lecturer in Finance at Metropolitan State University of Denver
Finance Lecturer at California State University, Long Beach
Associate Professor at California State University, Sacramento
Assistant Professor of Finance at The University of Texas - Rio Grande Valley
Associate Professor of Finance at Menlo College
Associate Teaching Professor at Bowling Green State University, CIC, CRM, ARM, MBA
Assistant Professor of Finance at the University of Wyoming
Associate Professor of Finance in the Brandeis International Business School
Managing Editor of The Military Wallet
Wealth Advisor and Principal at Withum Wealth Management
To compile a list of the best home insurance companies, MoneyGeek reviewed dozens of insurance companies and ranked them for several factors:
We looked for companies that served a broad section of the U.S. Most of the companies have national or near-national coverage. Some — like USAA — serve a more limited population but have such excellent reputations that we included them. It's an important reminder that some of the best insurers may be regional in scope, so check on local providers in your area.
Your home is probably your most important asset, and you want to be sure the insurance company will be able to pay out if needed. For that reason, the financial strength of insurance companies is an important consideration. We only included companies with at least an A rating from AM Best rating agency.
A financially stable company isn't of much use if it doesn't efficiently and fairly pay claims. We looked at customer satisfaction surveys from J.D. Power to determine how these companies treat their clients.
We made sure all of our top selections offered standard coverage options, including:
Remember, if you want earthquake or flood coverage, you will need a separate policy. And homeowners insurance never covers damage from termites or other pests.
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