Best Homeowners Insurance Companies for 2021: Reviews, Rankings and Rates

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. Companies are also ranked 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.

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.

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:

• Travelers (17 states)
• Allstate (eight states)
• Farmers (seven states)

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.

There are many factors you should consider when choosing an insurance company, including:

• Sufficient Coverage Levels: The most important part of choosing your homeowners insurance is making sure you have enough coverage to protect you in the event of a total loss.
• Cost: Make sure you choose a policy with a premium you can afford to pay each month. It doesn’t matter how good the coverage is if you can’t make the payments.
• Customer Reviews: Customer reviews are the best way to learn about a company’s reputation. If you want to know if a company is pleasant to deal with on the phone or pays out their claims on time, customer feedback can help you find that information.
• Financial Rating: The higher a company’s financial rating, the more likely they are to pay out claims in the future.
• Discounts: Sometimes, a company may seem too expensive, but they offer discounts that make them much more affordable.
• Claims Process: A company that is pleasant to deal with during a claim situation is great, and a company that pays claims on time and in full is even better. Pay close attention to this aspect when researching insurance companies.
• Special Circumstances: If you have specific needs — such as coverage for natural disasters common in your area or additional coverage for uncommon household features (wheelchair ramps, stair climbers, etc.) — you will want to choose an insurance company that can meet those needs.

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.

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:

• Dwelling: To protect the physical structure of your home.
• Other Structures: To protect separate structures on your property, like a detached garage or a shed.
• Liability: To protect you in a lawsuit if someone is injured at your house.
• Personal Property: To protect things like furniture, electronic equipment, bikes, etc.

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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