Top Rated Homeowners Insurance Companies - Find out the best home insurance companies in our in-depth home insurance comparison guide based on cost, customer reviews, and net promoter score.
The best home insurance companies offer policies that protect everything that makes your home your home without breaking your budget. You also want to work with a home insurance company that is ready to help when you file a claim. This guide can help you find the company. We've evaluated dozens of companies based on several key factors, including cost, customer reviews, and Net Promoter Score (NPS), so you can find the best home insurance for you.
Top Rated Homeowners Insurance Companies
We've included ourselves in the analysis so you can see how our performance stacks up against some of the top homeowners insurers in the country. You'll also find some tips on how to compare home insurance companies so you can make an informed choice and choose the best homeowners insurance to protect your home and family.
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Homeowners insurance costs vary by state and even by county. So when you record average premiums to see how much you'll pay for coverage, it doesn't tell you anything specific to your situation.
That said, here's an apples-to-apples cost comparison of the average annual premium for a newly constructed home with $300,000 home insurance, according to filings with the Florida Insurance Regulatory Authority. This gives you a clear picture of who has the best rates in Florida - one of the most expensive places to buy home insurance.
Our findings were not surprising—at least not to us. The average rate of $1,316 per year is among the lowest in Florida. That makes us 15% cheaper than the second cheapest option (First Protective at $1,523 per year) and 68% cheaper than the most expensive option (Bankers Insurance at $2,222 per year).
While price is important, it's not the only factor to consider when choosing the best home insurance company. Customer reviews can tell you a lot about home insurance companies, such as:
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You'll definitely want to read various reviews to get an idea of an individual customer's experience, but you can get an overall impression of customer satisfaction from the average review score.
For all homeowner insurance companies below, we looked at online review sites (including Trustpilot, Google Reviews, and Clearsurance) that allow users to rank their experiences on a scale of 1 to 5.
As you can see, customers rate their experience highly, but GeoVera customers are generally less satisfied with their service. Some companies such as Bankers Insurance and Universal Property & Casualty have received positive reviews, but some of these home insurers are even well below the mediocre customer experience. Many reviews of low-rated companies point to high premiums and poor claims experiences as the source of their dissatisfaction.
Net Promoter Score indicates whether a customer is likely to recommend a company to a friend or family member. As you can imagine, this is very valuable to insurance companies. A high score means customers are so impressed with their experience that they trust the company to protect those they care about.
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The average NPS for the home insurance industry is 42 out of 100, which is a miserable score by any measure. This means that people are not impressed with their home insurance company.
Our NPS of 85 is more than double the industry average. The next national insurer to come close to this score is USAA with a score of 77. Please refer to the table below for fares on other national airlines.
This list is not exhaustive, but these are the home insurers with the largest shares in some of our most competitive markets. Note: These links will take you to our company review articles so you can see how each company is doing in:
2) If you live in an area prone to natural disasters, look for an insurance company that offers hurricane and flood insurance.
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The best home insurance providers are those that don't force you to accept less coverage and are financially strong enough to cover your claims. They can work within your budget, provide customized coverage, and have great customer reviews and ratings. Homeowners insurance rates can vary widely based on many factors, including where you live, when your home was built, your choice of coverage, and your insurance company. The most affordable home insurer, Nationwide, is $1,833 a year cheaper than the most expensive Auto-Owners. We recommend that you compare quotes from multiple companies to get the best deal when purchasing a homeowners insurance policy.
It's hard to see the value of homeowners insurance when all is well - but in the event of an accident or disaster, you need reliable service and adequate coverage to cover your losses. We've compared quotes from some companies to help you find home insurance that's not only affordable but effective.
Erie offers the cheapest home insurance rates—the policy costs $883 per year or $76 per month, which is 53% less than the national average. However, most homeowners don't have access to Erie because the company only operates in 12 states.
Nationwide and State Farm offer affordable insurance policies to homeowners across the country. Their prices are 35% and 20% cheaper than the average price, respectively.
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The folks at the U.S. collect and analyze hundreds of thousands of home insurance quotes from every zip code in the U.S. to find the cheapest price. The best companies were selected based on a range of criteria, starting with price, including availability and discounts.
In most cases, Nationwide offers homeowners insurance rates lower than any of its major competitors. Nationwide's policy costs $1,227 per year or $102 per month. It also offers policyholders a number of discounts to help keep coverage affordable:
Nationwide also offers homeowners a variety of optional insurance add-ons such as identity theft protection, extended replacement cost coverage, backup water, earthquake and flood coverage.
However, buyers may be able to find better customer service elsewhere. Nationwide scored 812 out of 1,000 in J.D.'s Customer Satisfaction Survey. Power, placing it in the bottom half of the ranking insurers. However, it scored highly on the National Association of Insurance Commissioners (NAIC) Complaint Index, indicating that it received fewer complaints than its national competitors.
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At the end of the day, Nationwide Home Insurance is the best place to start comparing your policy rates, but it shouldn't be the only insurance company you check. Other large insurance companies - even local companies - can offer good rates and reliable service.
If your home is in one of the 12 states that offer Erie insurance, you may be able to get better rates. Erie's policy costs $883 a year or $74 a month, 47% cheaper than the national average.
Yili is known for excellent customer service. Our editors gave it a 4.5 out of 5 stars, and it ranks fourth in J.D.'s Customer Satisfaction Survey. strength.
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Largest Homeowners Insurance Companies In The U.s.
If you're shopping around for lower home and auto insurance rates, State Farm may be the best insurance company. When we calculated the discount each insurer offered to customers who bundled auto and home insurance, State Farm's quote showed the greatest possible savings.
State Farm's homeowners insurance costs an average of $1,510 per year or $126 per month. When we added auto insurance policies, State Farm home insurance rates dropped another 22% to 30%. In most cases, the discounts for joining State Farm are higher than any other insurance company we've reviewed.
In addition to competitive discounts, there are other advantages to choosing State Farm for your homeowners insurance. Not only is it the largest insurer for U.S. homeowners, but it also ranks in J.D. power -- above the national average of 825. This means State Farm is also the first choice for anyone who values excellent customer service from a home insurance company.
USAA is the best low-cost homeowners insurance option for veterans and active duty military and their families. Although its membership is limited to those who can demonstrate a personal connection to the Armed Forces, USAA combines a solid reputation for customer service with rates that often beat other home insurers.
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In our search for the cheapest home insurance rates, we found USAA's ratings to be very affordable at $1,789 per year or $149 per month. Keep in mind that if you are, this number may be far from what you see in the quote
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