More on Home Insurance
More on Home Insurance
The largest home insurance companies in the industry are State Farm, Allstate, USAA, Liberty Mutual, Farmers, Travelers, American Family, Nationwide, Chubb, and Auto-Owners.
If you’re shopping around for home insurance, chances are you might end up with one of the largest home insurance companies. With more than 60% of market shares in 2019 combined, the following 10 companies are the largest in the industry: State Farm, Allstate, USAA, Liberty Mutual, Farmers, Travelers, American Family, Nationwide, Chubb, and Auto-Owners.
Large insurance companies usually offer perks like online tools and plenty of discount options, but bigger is not always better. Standard home insurance can look different across these insurers, and supplemental coverage and discounts also vary based on the company you choose, so you should speak with an insurance expert at Policygenius who can help you find the best company to fit your needs.
The largest home insurance provider in North America is State Farm, with over 18 million in premiums written in 2019, according to the NAIC
The largest home insurance companies offer many of the same coverage options, but customer claims ratings vary, and so does their availability, depending on where you live in the U.S.
When deciding on a home insurance company, you should consider their ratings and compare coverage options and price to find the one that best meets your needs
Starting with the largest home insurance company in the industry, the following North American providers are ranked based on their written premiums, meaning how much policyholders paid for coverage, and the percent of the market share they had in 2019:
|Largest Home Insurance Companies, Ranked||Direct Premiums Written in 2019||Market Share in 2019|
|State Farm||18,698,347||17.95 %|
|Liberty Mutual||6,745,864||6.48 %|
|American Family||4,057,499||3.90 %|
State Farm is currently the largest home insurance company in the country, and is also the largest auto insurer in North America.
According to J.D. Power’s 2019 U.S. Home Insurance Study, State Farm is “better than most” when it comes to customer satisfaction. Policyholders with State Farm gain access to a variety of resources, digital tools, and over 18,000 agents who can help them choose the right coverage, making it a solid choice for first-time home buyers.
➞ Learn more about State Farm
In second place is Allstate with over 8 million in direct premiums written in 2019 and an A+ score with A.M. Best, a leading credit-rating agency. Of the home insurance companies on this list, Allstate ranked third highest in J.D. Power’s study, surpassing competitors like Nationwide and Liberty Mutual which scored lower than the industry average.
When you sign up for a policy with Allstate, you can take advantage of a wide range of discounts like their home buying discount if you’re a new home buyer or their protective device discount for securing your home with emergency devices.
➞ Learn more about Allstate
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In 2019, USAA earned the highest customer satisfaction score from J.D. Power of any other home insurance company. However it’s only available to those who have served in or have some affiliation with the U.S. military.
Part of what makes USAA stand out are its deductible options of up to $10,000, a perk that helps policyholders keep their rates down. They also offer a home protector plus endorsement to bring your home up to new building codes after a covered loss.
➞ Learn more about USAA
With over 6 million in direct premiums written in 2019, Liberty Mutual is the fourth largest home insurance company on our list. The company also scored a solid A with A.M. Best, but a below-average score of 792 with J.D. Power.
Liberty Mutual offers several discounts for new and existing policyholders. Some of the most notable ones include their safe homeowners discount, available to policyholders who are claim-free for three years, and a new roof discount when you upgrade your existing roof.
➞ Learn more about Liberty Mutual
Farmers has one of the most flexible standard policies in the industry, with customizable coverage tiers and agents available in all 50 states. It scored “about average” in J.D. Power’s 2019 study with 808 points, and an A+ from the Better Business Bureau, an organization that accredits companies and tracks consumer complaints.
At Farmers, home insurance is offered in three tiers: a standard policy designed for new homeowners, an enhanced policy with higher coverage limits and several extra features, and a premier policy which extends protection for personal belongings and in some cases, your home’s guaranteed replacement cost.
➞ Learn more about Farmers
Tied with Nationwide at 796 points, Travelers earned one of the lower rankings in J.D. Power’s 2019 study, but scored a superior A++ from A.M. Best. When you sign up for a policy with Travelers, you can choose between silver, gold, platinum, and platinum plus coverage options for varying degrees of protection.
Besides their robust policy packages, Travelers’ unique policy enhancements also set them apart from others in the industry. Additional coverage options include their green home endorsement, identity fraud coverage, and personal articles floater.
➞ Learn more about Travelers
American Family Insurance, or AmFam, places seventh on our list of largest home insurers with just over 4 million in written premiums in 2019. They also tied with Farmers at 808 points from J.D. Power for customer satisfaction.
In addition to standard homeowners insurance, AmFam offers coverage add-ons, like matching siding protection to repair or replace the siding of your home, and other impressive features like the interactive home insurance checklist on their site.
➞ Learn more about American Family
Nationwide’s A+ score with A.M. Best suggests their a well-established and financially sound company. But when it comes to customer satisfaction, Nationwide earned 796 points with J.D. Power, which is below average for the home insurance industry.
Nationwide is one of the most flexible carriers in the market, with coverage options for several types of homes and financial needs. Homeowners can save on their premium, too, just by having a newer roof or living in a gated community.
➞ Learn more about Nationwide
Chubb is well-known for insuring high-value homes, especially those in high-risk hurricane and earthquake areas. However, its score of 775 puts it in last place for customer satisfaction out of the competitors on this top 10 list.
A standard home insurance policy with Chubb comes with the six basic protections, plus extended replacement cost coverage for your home and replacement cost coverage for your personal belongings, which is usually offered as supplemental coverage at other companies.
➞ Learn more about Chubb
Auto-Owners is the tenth largest home insurance company on our list, so careful not to be fooled by the name. In 2019, the company had over 1 million in direct premiums written, and they earned a perfect score of A++ with A.M. Best for the fifth year in a row.
Homeowners can add a number of supplemental coverages to their policy with Auto-Owners, like water backup coverage, for sewer or drain-related water damage that is otherwise not covered by a standard policy. There are also a number of discounts to take advantage of, like the advanced quote discount for new policyholders who request a premium quote before their policy goes into effect, and their paid-in-full discount, for insureds who pay their annual premium in advance and all at once.
➞ Learn more about Auto-Owners
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