Best homeowners insurance companies of May 2023

Auto-Owners Insurance is the highest rated homeowners insurance company in our analysis thanks to its mix of extensive policy and coverage options, high marks for financial strength and customer experience ratings, and affordable premiums.

Pros

• Affordable rates

• Several additional coverage options

• Up to 12 available discounts

Cons

• Only available in 26 states

• Not able to get quotes or file claims online

Why Auto-Owners Insurance is our pick for best overall company

Auto-Owners Insurance is our pick for best overall home insurance company, scoring at least a 4 out of 5 for price, customer experience, coverage options, and financial strength, which earned it a perfect 5 out of 5 Policygenius rating.

With up to 23 policy endorsements — such as guaranteed replacement cost, inland flood coverage, and a comprehensive Homeowners Plus endorsement package — Auto-Owners offers excellent value for the coverage you're getting that surpasses competitors.

And if you find your quoted premiums are higher than you'd prefer, you can take advantage of up to 12 Auto-Owners discounts to get your rates back down. To put that into context, the average number of discounts the companies we reviewed offer is only 7.

How much does Auto-Owners home insurance cost?

The national average cost of an Auto-Owners home insurance policy is $1,406 per year, according to sample quotes provided to us by Quadrant Information Services. This makes Auto-Owners Insurance about 26% cheaper than the national average. 

State availability

Auto-Owners home insurance is available in the following 26 states:

Alabama, Arizona, Arkansas, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, North Carolina, North Dakota, Ohio, Pennsylvania, South Carolina, South Dakota, Tennessee, Utah, Virginia, and Wisconsin.

USAA's robust coverages, high marks for customer service and claims satisfaction, and numerous policy perks for veterans make it the best home insurance company for members of the military and their families.

Pros

• Affordable rates

• Over a dozen additional coverage options

• Industry-best customer service and claims satisfaction ratings

Cons

• Limited to people affiliated with the U.S. military

Why USAA is our top pick for military veterans

USAA stands out for offering coverage solely to current members of the military, veterans, and their families. It’s consistently a top-rated home insurance company when it comes to claims satisfaction, customer service, and financial stability.

It scores a perfect A++ rating with A.M. Best — higher than over 60 competitors we reviewed — meaning it likely has the financial strength and stability to pay out claims in the wake of a disaster.

The top-rated insurer also received 50% fewer complaints in 2021 than expected for a company of its size. To put that into perspective, our runner-up pick Armed Forces Insurance earned nearly four times more than similar-sized competitors.

And finally, USAA stands out for its stellar coverage add-ons that you won't find with other home insurance companies, including a special perk where it won’t charge you a deductible for covered losses to your military uniform or equipment while you’re on active duty.

How much does USAA home insurance cost?

The national average cost of home insurance with USAA is $1,479 per year, according to sample quotes provided to Policygenius from Quadrant Information Services. This makes USAA about 22% cheaper than the national average. 

State availability

USAA homeowners insurance is available in all 50 states and Washington, D.C.

State Farm home insurance scores a near-perfect 4.8 out of 5 thanks to its slew of coverage add-ons, high marks on J.D. Power’s customer satisfaction surveys, and strong financial stability ratings.

Pros

• Save up to $1,127 per year when you bundle your home and auto insurance

• Excellent line-up of policy add-ons, including extended replacement cost coverage

Cons

• No longer sells home insurance policies in California

• 20% more complaints filed with the NAIC than other companies of its size

Why State Farm is our top pick for widely available coverage

At a time when lots of competitors are no longer insuring homes in areas prone to wildfires or hurricanes, State Farm continues to offer its relatively affordable and highly rated home insurance to homeowners in every corner of the country.

And it doesn't skimp on coverage, offering flood, wildfire, and earthquake protection — one of few competitors that offers all three insurance policies to homeowners in high-risk states nationwide.

Plus, while many competitors don't have the financial strength to pay out claims after several natural disasters in the same year, State Farm isn't one of them. It earns the highest rating possible from A.M. Best for financial strength and stability — only six insurance companies out of nearly 70 we reviewed hold this title.

How much does State Farm home insurance cost?

The national average cost of home insurance with State Farm is $1,887 per year, according to sample quotes provided to Policygenius from Quadrant Information Services. This is on par with the national average of $1,899 per year.

State availability

State Farm offers home insurance policies in all 50 states and Washington, D.C.

Amica remains the standard-bearer of customer satisfaction in residential property insurance, scoring highest in J.D. Power's customer experience survey in every year except one since 2002.

Pros

• Unique dividend policy option to earn up to 20% back on insurance premiums each year

• Earned #1 ranking in J.D. Power’s claims and customer satisfaction surveys

• Available everywhere except Hawaii and Alaska

Cons

• Dividend policy isn’t available in high-risk states like Florida and California

Why Amica is our top pick for customer service

Amica took home the top spot in J.D. Power’s 2022 Home Insurance Study, scoring a perfect 5 out of 5 in four key categories: 

• Coverage options

• Clarity and accuracy of the billing process

• Customer interactions

• Claims experience

Even more, Amica earned a superior A+ rating from A.M. Best based on its financial strength and stability, as well as 20% fewer complaints with the National Association of Insurance Commissioners than other companies of its size in 2021.

While Amica can be pricier in some states than its competitors, it may be worth the added expense when you consider the superior level of coverage and customer service you’re receiving.

How much does Amica home insurance cost?

The national average cost of home insurance with Amica is $1,756 per year, according to sample quotes provided to Policygenius from Quadrant Information Services. This is around 8% cheaper than the national average. However, your actual rates will vary based on your home's location, size, the amount of coverage in your policy, claims history, and other factors.

State availability

Amica offers home insurance policies in every state and Washington, D.C. except Alaska and Hawaii. 

Openly insures homes up to $5 million with its impressive lineup of customizable policy add-ons that come with high coverage limits — and the best part? Its rates are surprisingly affordable considering its high-net worth customer base.

Pros

• Offers up to $5 million in coverage for high-value homes

• Robust lineup of policy add-ons with high limits to customize coverage to fit your needs

• No restrictions on pools without fences or dangerous dog breeds

Cons

• Only available in 21 states

• Fewer home insurance discounts than competitors

• Not included in J.D. Power’s customer satisfaction studies

Why Openly is our top pick for high-value homes

Openly insurance is ideal for homeowners with high-value homes looking for a policy they can customize to fit their unique needs.

It offers the second-highest number of coverage add-ons of the nearly 70 competitor home insurance companies we reviewed, including:

• Guaranteed replacement cost coverage for your home

• Scheduled personal property and blanket coverage for expensive belongings

• Water backup, equipment breakdown, and earthquake protection

• Loss assessment coverage with high limits if you live in an HOA community.

And unlike many of its competitors, Openly doesn’t have restrictions on the types of dog breeds it’s willing to insure. You also won’t have an issue getting coverage if you have a pool — no matter if it has a diving board and slide, or no fencing around it.

However, two noticeable policy add-ons missing from Openly's home insurance that you'll find with competitors like Chubb and AIG are complimentary hurricane and wildfire mitigation services for homeowners in high-risk areas.

How much does Openly home insurance cost?

The national average cost of home insurance with Openly is $1,125 per year, according to sample quotes provided to Policygenius from Quadrant Information Services.

This is around 50% cheaper than the national average. But keep in mind that your actual rates will vary based on your location, your home's size, the amount of coverage in your policy, claims history, and other factors.

State availability

Openly offers home insurance policies in the following 21 states: 

Alabama, Arizona, Georgia, Illinois, Indiana, Kansas, Kentucky, Maine, Massachusetts, Mississippi, Missouri, New Hampshire, New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Utah, and Wisconsin.

Openly has plans to expand coverage to Connecticut and Virginia in 2023.

Stillwater's willingness to insure homes that have gone without home insurance for any period of time makes it our top pick for homeowners who've had a lapse in coverage.

Pros

• Insures homes that had a lapse in insurance coverage

• Rates lower than the national average, plus 15 discounts to save even more

• Offers a slew of coverage add-ons

Cons

• Doesn’t have as strong financial strength rating as other insurers

• Wasn’t included in J.D. Power’s 2022 customer satisfaction surveys

• Not available in Louisiana

Why Stillwater is our top pick for homes with a lapse in coverage

Stillwater is one of the few home insurance companies willing to work with homeowners who've had a lapse in coverage — a rarity in the industry.

Most competitors consider homes that have gone without home insurance too risky to insure, since many lapses in coverage happen due to missed or late premium payments. But not Stillwater.

It also stands out thanks to the whopping 15 home insurance discounts it offers help you save on rates. To put this into context, competitor home insurance companies average just seven discounts.

How much does Stillwater home insurance cost?

The national average cost of home insurance with Stillwater is $1,589 per year, according to sample quotes provided to Policygenius from Quadrant Information Services. This makes Stillwater about 18% cheaper than the national average.

State availability

Stillwater homeowners insurance is available in all states except Louisiana.

American Family home insurance has industry-best coverage options, high customer service ratings, and several discounts to compliment its already affordable rates, making it a great option in the 19 states where it’s available.

Pros

• Affordable rates and 11 available discounts

• Ranked #2 in J.D. Power’s 2022 U.S. Home Insurance Study

• Diminishing deductible feature to lower out-of-pocket claim costs

Cons

• Only available in 19 states

• Offers online quotes, but requires talking to an agent to complete the process

Why American Family is our top pick for customizable policy options

When it comes to both the breadth and quality of home insurance policy options, there are few companies in the same league as American Family.

Choose from three comprehensive policy tiers with various levels of protection, or customize a policy to your liking with up to 15 additional coverage options, including inland flood, equipment breakdown, and service line coverage.

We especially like its rare diminishing deductible feature that takes $100 off your policy deductible each year you go without filing a claim — a perk few competitors offer.

While it only writes homeowners insurance in 19 states, American Family is the seventh largest home insurer in the United States — which indicates it’s a popular option in the places it operates.

How much does American Family home insurance cost?

The national average cost of home insurance with American Family is $1,692 per year, according to sample quotes provided to Policygenius from Quadrant Information Services. This makes American Family about 13% cheaper than the national average.  e amount of coverage in your policy, claims history, and other factors.

State availability

American Family offers home insurance policies in the following 19 states:

Arizona, Colorado, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Minnesota, Missouri, Nebraska, Nevada, North Dakota, Ohio, Oregon, South Dakota, Utah, Washington, and Wisconsin.

Erie home insurance policies are among the most robust of any company in our analysis. A basic Erie policy comes with coverages that typically cost extra with other insurers, such as guaranteed replacement cost and lost or misplaced items coverage.

Pros

• Cheap rates

• Guaranteed replacement cost comes standard on Erie policies

• Excellent customer service and claims satisfaction ratings

Cons

• Only available in 12 states

• Just three available discounts

• Can’t get quotes or file claims online

Why Erie is our top pick for comprehensive dwelling coverage

Erie features the most comprehensive basic homeowners insurance policy of any company in our study, including guaranteed replacement cost coverage that pays any replacement amount in the event of a disaster — regardless of your coverage limits.

That means if your house is destroyed and construction costs suddenly spike due to high demand or inflation and your coverage limits aren’t high enough to cover the costs, Erie will reimburse you the full rebuild amount anyway.

Its standard coverages also include all-risk protection that extends coverage on your personal belongings to lost or misplaced items, as well as higher coverage limits for your jewelry, watches, and other expensive items.

With most competitors, you have to pay extra for these valuable coverage upgrades — but not with Erie.

How much does Erie home insurance cost?

The national average cost of home insurance with Erie is $1,284 per year, according to sample quotes provided to Policygenius from Quadrant Information Services. This makes Erie about 33% cheaper than the national average. However, your own rates will depend on your home’s location and how much coverage you need.

State availability

Erie offers home insurance policies in the following 12 states and Washington, D.C.:

Illinois, Indiana, Kentucky, Maryland, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, and West Virginia.

Along with saving around 20% when you bundle your home and car insurance, Farmers also gives you access to its extensive suite of discounts, unique policy credits, and claim-free incentives that help put money back in your pocket.

Pros

• 12+ discounts to save on rates

• Extended and guaranteed replacement cost for your home

• Shave $50 off your deductible each year you’re with Farmers

Cons

• Below-average scores on J.D. Power’s overall customer satisfaction and digital experience surveys

Why Farmers is our top pick for discounts and policy perks

Farmers home insurance stands out against competitors thanks to the slew of discount opportunities and policy perks available.

It offers 17 home insurance discounts — its competitors average just seven — and policy perks that aren't easy to come by, including:

• Declining deductibles: Earn $50 toward your home deductible each year you have a home insurance policy with Farmers.

• Claim forgiveness: Once you’ve gone five years without filing a claim, Farmers won’t raise your rate after that if you end up filing one.

Even more, depending on your state of residence, you can save up to 45% on your auto insurance and up to 34% on your home insurance when you bundle policies, according to farmers.

How much does Farmers home insurance cost?

The national average cost of home insurance with Farmers $1,845 per year, according to sample quotes provided to Policygenius from Quadrant Information Services. This is on par with the national average of $1,899 per year.

State availability

Farmers offers home insurance policies in the following 41 states:

Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, and Wyoming.

Nationwide home insurance features a slew of comprehensive coverage options. It also received high marks for claims satisfaction with J.D. Power, indicating you can rely on Nationwide when it matters most.

Pros

• Multiple high-quality coverage options

• Highly rated for claims satisfaction with J.D. Power

• Available in most states

Cons

• Below-average customer satisfaction and digital experience ratings

• Won’t cover Airbnbs or other short-term rentals

Why Nationwide is our top pick for hassle-free claims

Nationwide earned a top five ranking in J.D. Power's 2022 Claims Satisfaction Study, scoring well in five key categories:

• Settlement process

• Claim servicing

• Final notice of loss

• Estimation process

• Repair process

Unlike many of its regional competitors that don't offer the option to file claims online or through a mobile app, Nationwide does — making its home insurance claim process strikingly transparent and easy to follow.

Once you file your claim, you'll be assigned a claims associate to help you through the process. You'll then be provided an estimate and settled either over the phone or in person, and Nationwide can even find you a contractor via its property repairs network.

How much does Nationwide home insurance cost?

The national average cost of home insurance with Nationwide $1,966 per year, according to sample quotes provided to Policygenius from Quadrant Information Services. This is on par with the national average of $1,899 per year.

State availability

Nationwide offers home insurance policies in the following 43 states and Washington, D.C.:

Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, New Hampshire, Nebraska, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.

Travelers earns our top spot for homeowners with poor credit thanks to its affordable rates that are only $200 more expensive than those for homeowners with good credit.

Pros

• Green home coverage and discounts

• Offers short-term rental coverage for Airbnb hosts

• Doesn’t require prior insurance on the home

Cons

• Subpar customer service ratings with J.D. Power

• Underwhelming number of available discounts

Why Travelers is our top pick for homeowners with poor credit

Many home insurance competitors hike up rates as much as $2,000 if you have poor credit, since studies show you're more likely to file a claim. But not Travelers.

Its average home insurance rates for homeowners with good credit versus poor credit only vary by around $200. And you can save even more if you qualify for one of the five home insurance discounts it offers.

How much does Travelers home insurance cost?

The national average cost of home insurance with Travelers if you have poor credit is $1,789 per year, according to sample quotes provided to Policygenius from Quadrant Information Services.

This is still 6% cheaper than the national average. And rates are even lower if you have good credit, averaging $1,568 per year.

State availability

Travelers homeowners insurance is available in 48 states and Washington, D.C., but it's not available in Florida or California.

Whether you’re looking for bare-bones coverage on the cheap or a more comprehensive policy package with additional coverages and features like short-term rental coverage and deductible rewards, you’ll likely be able to find it with Allstate.

Pros

• High-quality and flexible policy options

• Numerous discounts and features that help you save

• Below-average customer complaints

Cons

• Below-average digital experience rating with J.D. Power

Why Allstate is our top pick for Airbnbs

If you rent out your property through a short-term rental service like Airbnb and a guest destroys or steals your property, Allstate’s HostAdvantage will pay up to $10,000 per rental host period to replace or repair your property.

And the best part? This coverage can be added directly onto your home insurance policy for a small additional fee. To put this into context, only about one-third of the nearly 70 home insurance companies we reviewed even offer home-sharing coverage at all.  

How much does Allstate home insurance cost?

The national average cost of home insurance with Allstate $1,650 per year, according to sample quotes provided to Policygenius from Quadrant Information Services. This makes Allstate about 13% cheaper than the national average.

State availability

Allstate offers home insurance policies in all 50 states and Washington, D.C.

AAA lands the top spot for new homeowners thanks to its new homebuyer discount that offers average savings of around 37% off your home insurance rates and robust coverage add-ons to ensure your new home is fully protected.

Pros

• Affordable rates, plus 15+ home insurance discounts available

• 20+ policy coverages and add-ons — including flood and earthquake insurance

• Slew of other perks and discounts that come with AAA membership

Cons

• AAA membership required to purchase home insurance

• Coverages, discounts, and claims experience will vary by the regional AAA auto club you receive insurance through

• Below-average customer satisfaction scores — and 4 times more NAIC complaints than similar home insurance companies

Why AAA is our top pick for new homeowners

AAA takes the cake for new homeowners thanks to its steep new homebuyer discount that offers average savings of around 37% off your home insurance rates — far beyond what we've seen with competitors in our analysis.

You'll also save even more if you bought a brand-new home, purchased your policy before it needs to go into effect, or have an active AAA membership.

We also like AAA for new homeowners thanks to its stellar selection of coverage add-ons to insure your new home is fully protected, including extended replacement cost coverage for your home, replacement cost coverage for your personal belongings, water damage protection, flood insurance, earthquake coverage, and more.

How much does AAA home insurance cost?

The national average cost of home insurance with AAA if you're a new homeowner is $1,295 per year, according to sample quotes provided to Policygenius from Quadrant Information Services. This is 37% cheaper than if you didn't qualify for their new homeowner discount.

State availability

AAA homeowners insurance is available in all 50 states and Washington, D.C. through one of its regional auto clubs and insurance subsidiaries.

Hippo's philosophy is simple: the best way to keep costs down is to prevent problems before they start. If you're interested in smart home tech or ways to keep maintenance costs down, consider Hippo for its array of tech-friendly discounts and programs.

Pros

• Affordable rates

• Several tech-friendly discounts and incentives

• Complimentary home maintenance service

Cons

• Not able to file claims online

• Lack of industry reputation

• Tech-forward approach may not appeal to everybody

Why Hippo is our top pick for home insurance for smart homes

Insurance premiums are, to a certain degree, based on what we don't know and the risk that comes with that uncertainty.

Installing home security systems and other protective devices is one of the most effective ways to reduce this uncertainty and save money on homeowners insurance, and no company emphasizes this more than Hippo.

Not only will Hippo discount your rates up to 25% if you have security cameras or other connected devices installed in your house — but it actually includes its own smart home monitoring kit with each policy. For context, only a handful of competitors offer something like this.

While this type of homeowners insurance isn't for everybody, if you're interested in modernizing your home and saving money on insurance in the process, Hippo is a great option.

How much does Hippo home insurance cost?

The national average cost of home insurance with Hippo $1,138 per year, according to sample quotes provided to Policygenius from Quadrant Information Services. This makes Hippo about 40% cheaper than the national average.

State availability

Hippo homeowners insurance is available in the following 39 states and Washington, D.C.:

Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Georgia, Illinois, Indiana, Kansas, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, and Wisconsin.

Foremost is willing to insure high-risk homes that are older, showing obvious signs of wear and tear, or have an extensive claims history. And it’s not afraid to work with homeowners who have bad credit.

Pros

• Insures high-risk homes that are older, showing signs of wear and tear, or have a history of claims

• Works with homeowners with bad credit

• Offers guaranteed and extended replacement cost coverage for your home

Cons

• Rates are 27% higher than the national average

Why Foremost is our top pick for high-risk homes

Unlike competitors that shy away from working with older homes, those that are obviously rundown, and homes that have lots of claims on their record, Foremost doesn't.

But that doesn't mean you'll have to skimp on coverage. Foremost offers a wealth of policy add-ons, including guaranteed and extended replacement cost coverage for your home, equipment breakdown and water backup protection, and flood insurance through the National Flood Insurance Program.

How much does Foremost home insurance cost?

The national average cost of home insurance with Foremost is $2,484 per year, according to sample quotes provided to Policygenius from Quadrant Information Services.

This makes Foremost about 27% higher than the national average. However, this isn't surprising given that home insurance for high-risk homes is typically more expensive since you're more likely to file a claim.

State availability

Foremost homeowners insurance is available in all 50 states and Washington, D.C.