The 10 largest homeowners insurance companies

The largest home insurance companies in the industry are State Farm, Allstate, USAA, Liberty Mutual, Farmers, Travelers, American Family, Nationwide, Chubb, and Progressive.

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With a more than 50% combined home insurance market share in 2020, the following 10 companies are the largest in the industry: State Farm, Allstate, USAA, Liberty Mutual, Farmers, Travelers, American Family, Nationwide, Chubb, and Progressive.

Larger home insurance companies generally offer other insurance options as well, like car, boat, and motorcycle insurance, allowing you to have all of your policies in one place and take advantage of bundling deals. They also have perks like user-friendly online tools and plenty of discount options, but bigger doesn’t always mean better. 

Home insurance coverage and discounts vary from company to company — our Policygenius agents can help you find the best homeowners insurance to fit your needs.

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The following companies are the largest home insurance companies in North America. Companies are ranked by direct written premiums in 2020, meaning the total amount  policyholders paid for insurance that year, and their market share, according to the National Association of Insurance Commissioners. [1]

Largest homeowners insurance companiesDirect premiums written in 2020Market share in 2020
State Farm19,717,03217.85%
Allstate9,005,2518.15%
USAA7,362,7476.67%
Liberty Mutual6,991,2836.33%
Farmers6,043,8655.47%
Travelers4,866,3574.41%
American Family4,442,4674.02%
Nationwide3,344,1813.03%
Chubb3,113,1492.82%
Progressive1,897,2251.72%

The largest home insurance companies

Here’s a deeper look at the top 10 homeowners insurance companies, the coverage options they offer, and their various scores and rankings with different industry rating agencies. 

1. State Farm

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 2021 U.S. Home Insurance Study, State Farm is “better than most” when it comes to customer satisfaction. [2] Policyholders with State Farm gain access to a variety of resources and digital tools, making it a solid choice for first-time home buyers.

➞ Read our full State Farm homeowners insurance review

2. Allstate

The second largest company is Allstate with over 9 million in direct premiums written in 2020 and an A+ score with A.M. Best, a leading credit-rating agency.

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.

➞ Read our full Allstate homeowners insurance review

3. USAA

USAA earned the highest customer satisfaction score in J.D. Power's 2021 study. 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.

➞ Read our full USAA homeowners insurance review

4. Liberty Mutual

With over 6 million in direct premiums written in 2020, Liberty Mutual is the fourth largest home insurance company on our list. The company also scored an A+ with the Better Business Bureau, which ranks companies based on a variety of factors, including how they handle customer disputes. However, Liberty Mutual earned a below-average score of 881 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.

➞ Read our full Liberty Mutual homeowners insurance review

5. Farmers

Farmers has one of the most flexible standard policies in the industry, with several customizable coverage tiers. It scored “about average” in J.D. Power’s 2021 study with 813 points, and an A+ from the Better Business Bureau.

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.

➞ Read our full Farmers homeowners insurance review

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6. Travelers

Tied with Nationwide at 800 points, Travelers earned one of the lower rankings in J.D. Power’s 2021 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.

➞ Read our full Travelers homeowners insurance review

7. American Family Insurance

American Family Insurance, or AmFam, is the seventh largest home insurance company with over 4 million in written premiums in 2020.

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.

8. Nationwide

Nationwide’s A+ score with A.M. Best suggests they’re a well-established and financially sound company. But when it comes to customer satisfaction, Nationwide earned 812 points with J.D. Power, which is below average for the home insurance industry.

Nationwide is one of the best insurers on the market, with 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.

➞ Read our full Nationwide homeowners insurance review

9. Chubb

Chubb is well-known for insuring high-value homes, especially those in high-risk areas. Chubb is a premier provider, which means their policies are designed for high-net worth individuals.

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 at other companies.

➞ Read our full Chubb homeowners insurance review

10. Progressive

Progressive sells homeowners insurance policies through their partner companies instead of underwriting the policies themselves. This gives them the ability to offer a wide range of policy options at an affordable rate. 

Because they work with so many different insurers, customer satisfaction can vary when it comes to the claims process. J.D. Power scored Progressive at 821, which is just slightly below average. Progressive earned an A+ Rating from A.M. Best. 

➞ Read our full Progressive homeowners insurance review

What to look for in a homeowners insurance company

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 a high claims satisfaction scores

  • The company offers robust, comprehensive coverage options

  • Affordable rates

The best way to shop for homeowners insurance is to shop around and 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.

Frequently asked questions

What makes an insurance company the largest?

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?

As of 2020, State Farm is the largest homeowners insurance company, making up over 17% of the market share.

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