The 10 largest home insurance companies in the U.S. in 2023

State Farm is currently the largest home insurance company in the country, and it’s also the largest auto insurer in North America.

Pros

• Covers homes in all 50 states, including Florida and California

• 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

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

• Market share: 18.42%

• Written premiums: $22 billion

• Average annual cost: $1,887

State Farm is the largest home insurance company in the country and offers policies in all 50 states. According to J.D. Power’s overall customer satisfaction study, State Farm is “better than most” when it comes to overall customer satisfaction. And policyholders with State Farm gain access to a variety of resources and digital tools, making it a solid choice for first-time homebuyers.

The second largest company is Allstate, which offers affordable rates — around $300 cheaper than the national average of $1,899.

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

• Written premiums: $10.5 billion

• Market share: 8.77%

• Average annual cost: $1,650

Allstate offers below-average prices and a wide range of discounts, including a home buying discount if you’re a new homebuyer or their protective device discount for securing your home with emergency devices.

USAA is the third largest homeowners insurance company, but it’s only available to those affiliated with the U.S. military.

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

• Written premiums: $8b

• Market share: 6.67%

• Average annual cost: $1,479

Part of what makes USAA stand out are its deductible options of up to $10,000, a perk that helps policyholders keep their rates low. The insurer also offers a home protector plus endorsement to bring your home up to new building codes after a covered loss. However, it’s only available to those who have served in or have some affiliation with the U.S. military.

Liberty Mutual is the fourth largest home insurance company in the country and received high marks from credit rating agencies like A.M. Best, which means it’s a financially sound company.

Pros

• 10+ discounts available to lower rates

• Offers water backup coverage, inflation protection, and flood insurance

• Available in all 50 states and Washington, D.C.

Cons

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

• 3 times more complaints than other similar-sized insurance companies

• Written premiums: $7.7 billion

• Market share: 6.4%

• Average annual cost: N/A

Liberty Mutual offers a slew of coverage add-ons, including inflation guard coverage, water backup coverage, and flood insurance through the NFIP. However, it scored below average on J.D. Power’s overall customer satisfaction study.

Farmers is the fifth largest home insurer in the country and offers affordable coverage in all 50 states.

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

• Written premiums: $7.6 billion

• Market share: 6.36%

• Average annual cost: $1,845

Farmer’s offers multiple tiers of coverage so you can customize your home insurance policy to best fit your needs. The insurer offers all of the standard discounts, including discounts for bundling another insurance policy with Farmers or if you’re a non-smoker. But when it comes to overall customer satisfaction, Farmer’s received some of the lowest marks from J.D. Power’s overall customer satisfaction study, coming in at second-to-last place.

Travelers is the sixth largest home insurance company in the U.S. While it offers extensive coverage options, its average annual rates are on the higher side compared to other insurers on this list.

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

• Written premiums: $5.6 billion

• Market share: 4.64%

• Average annual cost: $1,568

While Travelers scored high with A.M. Best based on its financial strength as a company, it earned one of the lowest scores in J.D. Power’s overall customer satisfaction study. When you sign up for a policy with Travelers, you can choose between silver, gold, platinum, and platinum for varying degrees of protection.

Besides these robust policy packages, Travelers’ unique policy enhancements also set this insurer apart from others in the industry. Additional coverage options include a green home endorsement, identity fraud coverage, and personal articles floater.

American Family, or AmFam, is the seventh largest home insurance company with nearly $5 billion in written premiums in 2021.

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

• Written premiums: $5 billion

• Market share: 4.18%

• Average annual cost: $1,692

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 its website. AmFam also scored the second highest of any company on J.D. Power’s overall customer satisfaction study.

Nationwide is the eighth largest home insurance company with $3.5 billion in written premiums in 2021.

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

• Written premiums: $3.5 billion

• Market share: 2.94%

• Average annual cost: $1,966

Nationwide offers flexible 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. The credit rating agency A.M. Best gave Nationwide an A+ score, which suggests they’re a well-established and financially sound company. But when it comes to customer satisfaction, Nationwide earned a below-average score from  J.D. Power compared to others on this list.

Chubb takes the No. 9 spot on our list of the largest home insurance companies thanks to the $3.2 billion it wrote in premiums in 2021.

Pros

• Complimentary wildfire and hurricane mitigation services

• Cash-out claim settlements

• Higher coverage limits available than standard insurers

Cons

• Only insures high-value homes

• Below-average J.D. Power customer satisfaction ratings

• Written premiums: $3.2b

• Market share: 2.68%

• Average annual cost: N/A

As a luxury insurance carrier designed for high-net worth individuals, Chubb offers enhanced coverage options in its base policy, including extended replacement cost coverage for your home and replacement cost coverage for your personal belongings, which is usually offered as supplemental coverage with other companies.

Progressive takes the last spot in our list of the 10 largest home insurance companies — with $2.2 billion in written premium in 2021.

Pros

• Available in all states except Alaska and Hawaii

• Slew of policy and discount options available

• Easy-to-use app to manage policy

Cons

• Not a direct insurance carrier

• Cost varies by company Progressive places you with

• Customer service & claims options vary by company

• Written premiums: $2.2 billion

• Market share: 1.85%

• Average annual cost: N/A

Because Progressive works with so many different insurers, customer satisfaction can vary when it comes to the claims process — as evident by its below-average score with. J.D. Power. However, the company earns an A+ rating with A.M. Best based on its good financial strength and stability.