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To determine the best homeowners insurance companies around we looked at J.D. Power, A.M. Best, and Consumer Reports ratings, coupled with coverage levels, discounts, and more.
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Every standard homeowners insurance policy has the same basic coverage, but some companies provide more comprehensive coverage and additional protection at a better value than others.
When you're shopping for homeowners insurance, you'll want to find an insurer that strikes a balance between affordable rates and quality coverage. As you’re deciding on a policy for your home, you should also consider companies’ financial ratings, customer service and claims satisfaction ratings, policy discounts, and additional coverage options.
Selecting the right homeowners insurance might seem complicated and overwhelming, but it’s actually fairly easy if you know how much coverage you need and what to look for in an insurance company. Here are the best companies for several different factors that may pertain to shoppers.
It’s no wonder that in 2019, Amica took home the top spot in J.D. Power’s Home Insurance Study for the 18th year in a row. Amica scored a perfect 5 out of 5 in four key categories: coverage options, clarity and accuracy of the billing process, customer interactions, and the claims experience.
Amica certainly charges more for homeowners insurance than its competitors, but it may be worth the added expense when you consider the superior level of coverage and customer service you’re receiving. When changing and renewing your policy or filing a claim with Amica, you can be sure it’ll be pain-free, mark it down.
|• Best-in-class claims handling and customer satisfaction ratings||• Certain types of additional coverage offerings and perks (like dividend policy payments) aren’t available in some states|
|• Outstanding perks, including a dividend program and network of contractors||• Coverage endorsement offerings are rather limited|
|• Personal belongings are insured at their replacement cost|
➞ Read our full review of Amica here
If you’re a first-time homebuyer who’s never had to deal with an insurance company before, State Farm may be your best bet. With a helpful website featuring industry-best educational resources, a quick and easy quoting process, and a stellar mobile app where you can view your policy, pay your bill, and file claims, State Farm offers an incredibly user-friendly experience.
|• Great for first-time homebuyers||• Limited discounts|
|• Strong financial ratings|
Hippo takes the top prize for a stunningly quick and seamless home insurance quoting experience. The application process with Hippo is actually quite remarkable—you’re promised a quote in 60 seconds, but it’s really closer to 30. To apply, all you do is type in your address, and Hippo almost instantly shoots you an estimate along with information about your home’s specs.
|• Online quotes in minutes||• No option for filing claims online|
|• Multiple robust, modern policy options||• Only available in 20 states|
|• Several coverage endorsements included in the base policy|
A big advantage of insuring your home with Safeco is that they offer guaranteed replacement cost coverage in most states. That means if you lose your home, you’ll be reimbursed for the full rebuild amount regardless of how much construction prices spike in the wake of a disaster.
Guaranteed replacement cost coverage is particularly valuable if your home is in a disaster-prone region where the cost of labor and construction materials tend to go up after a natural disaster.
|• Robust coverage options||• Below average customer service ratings|
|• Straightforward claims process||• Fewer ways to save than competitors|
|• Variety of other insurance products|
➞ Read our full review of Safeco here
When it comes to cost-saving opportunities, Allstate may be in a league all by itself. Featuring eight discounts total, there is no shortage of ways to trim your insurance premiums. If you bundle your home and auto policies with Allstate, you can save up to 25%. If you haven’t filed a recent claim, you can save up to 20%.
|• Simple, easy-to-use website and digital tools||• Slightly below-average claims satisfaction scores|
|• Wide range of discount opportunities||• Policy offerings are limited|
|• Decent customer ratings|
➞ Read our full review of Allstate here
With Travelers green home coverage endorsement, you get additional protection that will repair, replace, or rebuild your home with designated green materials after a covered loss.
Additionally, Travelers offers a green home discount which lets you save up to 5% if your home is certified by LEED (Leadership in Energy and Environmental Design), a program within the U.S. Green Buildings Council and one of the leading green home rating systems in the world.
|• Range of policy options to choose from||• Some subpar customer service ratings|
|• Modernized coverage and rate-saving opportunities||• Below average claims satisfaction ratings|
|• Multiple unique endorsements and coverage enhancements|
➞ Read our full review of Travelers here
USAA only sells policies to current and former members of the military and their families and is consistently rated at the top of its class by A.M. Best with an A++ financial strength rating. It doesn’t have an official customer service rating with J.D. Power, but USAA is noted by J.D. as providing “claims satisfaction and shopping satisfaction”.
A perk of USAA is if your uniform is damaged or stolen in an event your policy covers and you are on active duty or deployed, USAA will reimburse you without you having to pay a deductible.
|• Perfect customer service and claims ratings with J.D. Power||• Only available to people affiliated with the military|
|• Industry-leading financial ratings||• Doesn't offer extended or guaranteed replacement cost dwelling options|
|• Several discounts available|
➞ Read our full review of USAA here
There are several advantages to bundling your home and auto insurance with a single company: a sizable policy discount, the convenience of one bill and minimal paperwork, and perks like single deductible claims if you need to file both a home and car insurance claim for the same cause of damage or loss.
With the EncompassOne insurance package, you pay one insurance premium and only have to pay one deductible for losses to your home and car, all while saving up to 20% on coverage.
|• Best bundling package||• Expensive if you don't bundle|
|• Variety of customizable policy options|
|• Accepts all dog breeds|
➞ Read our full review of Encompass here
Policygenius analyzed and rated 25 home insurance companies on several factors to help our customers make a better informed decision. Here is how each company stacks up in terms of financial ratings, cost, consumer confidence, customer satisfaction ratings, and coverage options.
|Homeowners Insurance Company||Policygenius Rating||Average Annual Cost||J.D. Power Rating||A.M. Best Rating|
|Plymouth Rock||8||$1,165||Not rated||A-|
|State Auto||7.6||$1,803||Not rated||A-|
|Tower Hill||7.5||$1,787||Not rated||A-|
When comparing policy options from multiple home insurance companies, it’s important to compare the level of coverage that you’re getting for the price.
Take, for instance, a scenario where Company A charges $1,300 a year to insure your home, while Company B charges $1,200. Although Company B’s quote is technically cheaper, Company A includes coverage add-ons and higher policy limits that are only offered at an additional cost through Company B. In that case, Company A’s policy may provide the most value.
Here are some factors you’ll want to consider when comparing home insurance policies.Financial and customer satisfaction ratings
A.M Best rating
A.M. Best ratings indicate an insurer’s overall financial health: A++ and A+ are considered superior, while A and A- are excellent. There are five other designations for insurers: good (B++, B+), fair (B, B-), marginal (C++, C+), weak (C, C-) and poor (D).
➞ Learn more about A.M. Best ratings
J.D. Power score
J.D. Power measures customer satisfaction and results are listed by designation: among the best; better than most; about average; and the rest. There’s also an overall winner. Overall performance is calculated on a 1,000-point scale that accounts for policy offering, price, billing, interaction and claims.
Consumer Reports score
Consumer Reports measures customer satisfaction with insurance companies based on a number of benchmarks: ease of reaching an agent, agent courtesy, promptness of response, damage amount, and how timely the companies’ payments are.
While A.M. Best, J.D. Power, and Consumer Reports can tell us a lot about a company and how it treats its customers, the best homeowners insurance policy is one that provides you with the coverage you need for your specific situation. A licensed representative from Policygenius can help you compare homeowners insurance policies and quotes until you find a policy that works for you.
One way to find out the quality of an insurer’s customer service is by simply reading testimonials and reviews online. Policygenius has detailed reviews of several of the top home insurance companies in the industry. Once you’re done reading up on companies, you should consider doing a little more digging.
Call the insurance company and see what the hold time is and what the service is like when you wait to speak to a representative about a general inquiry. If the hold time is three hours and they don’t seem accommodating, you’re probably not going to want to deal with them after you just lost your house and have to file a claim.
Find out how the company handles the claims process, as the single biggest indicator of home insurance customer satisfaction is the company’s damage estimates. If they have a reputation for not covering the agreed-upon replacement costs of property or dropping customers from their policy for filing a single claim, you should probably avoid that company.
The best companies will also have several supplemental coverage options, or endorsements, that you can add to your homeowners policy.
Perhaps the most essential endorsement is replacement cost contents coverage, which reimburses you for personal property loss without subtracting the items' depreciation from the claim check.
"Replacement cost will always represent better value because it makes your personal property coverage that much more usable and functional in terms of what you want it to do," said Fabio Faschi, property and casualty team lead at Policygenius. "You want your insurance to work for you, so in the event that you need to file a claim, what are you going to get back for it?"
One distinct advantage of adding endorsements rather than seeking coverage through a separate insurer is that you have all of your coverages in one place. Furthermore, if you have, say, home and flood insurance with the same company and you need to file a home and flood claim, some insurers may only require a single deductible for coverage to kick in. Here are some common endorsements offered by insurance companies:
Water backup coverage - Covers your home and personal property in the event your sewer lines or sump pump backs up and causes water damage
Scheduled personal property coverage - Provides full replacement value payouts in the event that expensive valuables like jewelry, fine furs and art are damaged or stolen
Equipment breakdown coverage - Equipment breakdown coverage is similar to a home warranty insurance policy in that it’s designed to cover certain appliances and property types not covered by your homeowners insurance policy, like appliance breakdown.
Service line coverage - A coverage add-on that reimburses you for damage to utility lines that you’re responsible for as the homeowner
Identity theft coverage - If your identity is stolen, this coverage reimburses you for loss of income and other expenses while you recover your identity
Business property coverage - Business property typically has low coverage limits in a standard home insurance policy — business property coverage increases those limits
Inflation guard - Increases the coverage limit on your home to keep up with inflation
If you’re looking for another way to save money and limit the paperwork and confusion of having policies with multiple insurers, you should look for companies that can bundle your home and auto policies.
Certain companies have low rates because they offer high-deductible policies. To keep your insurance costs down, it may be worth looking into your insurer’s high-deductible options. Just make sure that, in the event of a loss, you can afford whatever deductible you choose.
A good home insurance company offers bundles, loyalty discounts, and will even reward you if you file infrequent claims. You can also lower your monthly home insurance costs by increasing the number of safety and security features in your residence, including:
Deadbolts on doors
Impact-resistant windows and doors
➞ Learn more about how to find home insurance discounts
Looking for the best home insurance company in your state? For the best options and lowest rates, check out our state-by-state guide to homeowners insurance.
Unfortunately, there isn't a single best homeowners insurance company. The best home insurance company for you will be the one that fits your needs. It should be affordable, cover the right amount for your home and possessions, and match your circumstances, whether you're a first-time homebuyer or looking for specific discounts. Comparing multiple home insurance carriers side-by-side can help you quickly find the right fit.
Bundling home and auto can help you save a lot on your total costs. Most major insurers, like Allstate, Geico, and Nationwide, provide discounts for bundling. However, you still might be better off buying your home insurance and auto insurance from separate companies if they're cheaper individually. An independent licensed expert can help you identify the best combination of products so you get the most affordable option, even if it's with two different companies.
The cheapest home insurance will depend on the individual. Things like your deductible, coverage amount, additional endorsements, and more will affect your cost. You should always be on the lookout for discounts to lower your premiums. The average annual home insurance premium is around $1,200.
The amount of home insurance coverage you need depends on how at-risk your home is to damage, the rebuild cost of your home, the value of your property and possessions, liability risks, and more. You should purchase as much coverage as you need to feel financially comfortable - you'll be on the hook for replacing whatever your insurance doesn't cover.