Kara McGinley is a senior editor and licensed home insurance expert at Policygenius, where she writes about homeowners and renters insurance. As a journalist and as an insurance expert, her work and insights have been featured in Kiplinger, Lifehacker, MSN, WRAL.com, and elsewhere.
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This article has been reviewed by a licensed Policygenius expert to ensure that sources, statistics, and claims meet our standard for accurate and unbiased advice.
There are plenty of homeowners insurance companies in the country, but the largest companies account for more than 60% of the market share. Keep in mind that home insurance coverage, cost, and discounts vary by company and state — our Policygenius agents can help you find the best homeowners insurance to fit your needs. Here’s our breakdown of the top 10 largest homeowners insurers in the United States.
What are the largest homeowners insurance companies?
The largest homeowners insurance company by a large margin is State Farm, which makes up 18.42% of the market share. The second largest is Allstate with 8.77% of the market share. [1]
Here’s the top 10 largest home insurance companies based on direct premiums written and market share according to the most recent data from the National Association of Insurance Commissioners. [2] You can read our full methodology below.
Company
Direct premiums written
Market share
State Farm
$22 billion
18.42%
Allstate
$10.5 billion
8.77%
USAA
$8 billion
6.67%
Liberty Mutual
$7.7 billion
6.41%
Farmers
$7.6 billion
6.36%
Travelers
$5.6 billion
4.64%
American Family
$5 billion
4.18%
Nationwide
$3.5 billion
2.94%
Chubb
$3.2 billion
2.68%
Progressive
$2.2 billion
1.85%
Here’s a deeper look at the top 10 largest homeowners insurance companies, including the coverages they offer, their average annual policy premium, and their scores with different industry rating agencies.
We also included rankings from J.D. Power’s 2022 Home Insurance Study, which polled overall customer satisfaction based on five factors: interaction, policy offerings, price, billing process and policy information, and claims. [3]
1. State Farm
State Farm
State Farm is currently the largest home insurance company in the country, and it’s also the largest auto insurer in North America.
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. [4]
And policyholders with State Farm gain access to a variety of resources and digital tools, making it a solid choice for first-time homebuyers.
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.
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.
How to get a quote
Online through USAA
* According to J.D. Power, USAA is not rank eligible because it does not meet study award criteria
4. Liberty Mutual
Liberty Mutual
Liberty Mutual is the fourth largest home insurance company in the country and received high marks from credit rating agencies like AM Best, which means it’s a financially sound company.
Company highlights
Liberty Mutual offers a slew of coverage add-ons, including inflation guard coverage, water backup coverage, and flood insurance through the NFIP. However, Liberty Mutual scored below average on J.D. Power’s overall customer satisfaction study. [5]
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. [6]
While Travelers scored high with AM 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.
How to get a quote
Online through Policygenius or Travelers
7. American Family
American Family
American Family, or AmFam, is the seventh largest home insurance company with nearly $5 billion in written premiums in 2021.
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 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 AM 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 is well known for insuring high-value homes, especially those in high-risk areas. As a premier provider, its policies are designed for high-net-worth individuals across the country.
Chubb offers enhanced coverage options, especially for homes in high-risk areas — like if you live in an area that experiences frequent tornados or wildfires. A standard home insurance policy with Chubb comes with basic coverage, plus 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 sells homeowners insurance policies through its partner companies instead of underwriting the policies itself. This gives the insurer the ability to offer a wide range of policy options.
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 AM Best based on its good financial strength and stability.
How to get quote
Online through Policygenius or Progressive
Largest homeowners insurance companies by state
Homeowners insurance coverage and costs can vary by state. Unsurprisingly, State Farm makes up the most in-state market share in nearly all 50 states. [7]
The best homeowners insurance company for you is going to depend on your specific coverage needs. That said, there are some universal factors to consider when looking into different insurance companies.
Below is generally what you should look for when comparing different insurers:
Financial stability of the company
Reliability, with high claims satisfaction scores
Robust, comprehensive coverage options
Affordable rates
The best way to shop for homeowners insurance is to compare quotes from multiple companies. A Policygenius expert can help you determine how much coverage you need and help you find the best homeowners insurance at the best price.
The largest insurance companies are the ones that make up the most market share in the industry.
What’s the best homeowners insurance company?
It’s hard to determine which company is “best” because homeowners insurance is not a one-size-fits-all form of financial protection. As a rule of thumb, you should look for an insurance company that has good customer service ratings, is financially sound, and offers comprehensive coverage at an affordable price. Shopping around and comparing companies is the best way to find the right insurer for you.
Who is the largest homeowners insurance company in the United States?
State Farm is the largest homeowners insurance company, making up over 18% of the market share.
Which company has the highest customer satisfaction score?
Amica scored the highest in J.D. Power’s 2021 U.S. Home Insurance Study, with a score of 849 out of 1,000. The study determined overall customer satisfaction by examining five factors: interaction, policy offerings, price, billing process and policy information, and claims.
Methodology: How we analyzed the largest home insurance companies
To find the largest home insurance companies in the country, Policygenius analyzed data from the National Association of Insurance Commissioners (NAIC). The NAIC's Property and Casualty Market Share Report, which was published in July 2022, lists the total written premiums and market share — nationally and at the state level — for the top 125 insurance groups in the country. [8]
To get the average rates for each insurer, we analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:
Dwelling: $300,000
Other structures: $30,000
Personal property: $150,000
Loss of use: $60,000
Liability: $300,000
Medical: $1,000
All rates based on the above coverage limits except where otherwise noted.
Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.
References
Policygenius uses external sources, including government data, industry studies, and reputable news organizations to supplement proprietary marketplace data and internal expertise. Learn more about how we use and vet external sources as part of our
Kara McGinley is a senior editor and licensed home insurance expert at Policygenius, where she writes about homeowners and renters insurance. As a journalist and as an insurance expert, her work and insights have been featured in Kiplinger, Lifehacker, MSN, WRAL.com, and elsewhere.
