The 10 largest home insurance companies in the U.S. in 2022

State Farm, Allstate, and USAA top our list of the largest home insurance companies in the industry.

Kara McGinley

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Kara McGinley

Kara McGinley

Senior Editor & Licensed Home Insurance Expert

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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Michael Reynolds, CSRIC®, AIF®, CFT-I™

Michael Reynolds, CSRIC®, AIF®, CFT-I™

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Michael Reynolds, CSRIC®, AIF®, CFT-I™, is a financial advisor, principal and founder of Elevation Financial, host of the weekly personal finance podcast Wealth Redefined®, and a member of the Financial Review Council at Policygenius.

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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. 

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10 largest home insurance companies in the U.S.

  1. State Farm

  2. Allstate

  3. USAA

  4. Liberty Mutual

  5. Farmers

  6. Travelers

  7. American Family

  8. Nationwide

  9. Chubb

  10. Progressive

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 logo

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

  • Written premiums: $22b

  • Market share: 18.42%

  • Policygenius score: 4.5/5

  • Average annual cost: $2,039

  • J.D. Power score: 829

Read our full State Farm review

Get quotes

Company highlights

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.

How to get a quote 

Online through State Farm

2. Allstate

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

  • Written premiums: $10.5b

  • Market share: 8.77%

  • Policygenius rating: 4.8/5

  • Average annual cost: $1,596

  • J.D. Power score: 815

Read our full Allstate review

Get quotes

Company highlights

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.

How to get a quote

Online through Policygenius or Allstate

3. USAA

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

  • Written premiums: $8b

  • Market share: 6.67%

  • Policygenius rating: 4.9/5

  • Average annual cost: $1,432

  • J.D. Power score: 884*

Read our full USAA review

Get quotes

Company highlights

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 logo

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.

  • Written premiums: $7.7b

  • Market share: 6.4%

  • Policygenius rating: N/A

  • Average annual cost: N/A

  • J.D. Power score: 805

Get quotes

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]

How to get a quote Online through Liberty Mutual

5. Farmers

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

  • Written premiums: $7.6b

  • Market share: 6.36%

  • Policygenius rating: 4.1/5

  • Average annual cost: $1,874

  • J.D. Power score: 792

Read our full Farmers review

Get quotes

Company highlights

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]  

How to get a quote Online through Farmers

6. Travelers

Travelers offers extensive coverage options, but the company’s average annual rates are on the higher side compared to other insurers on this list.

  • Written premiums: $5.6b

  • Market share: 4.64%

  • Policygenius rating: 4.5/5

  • Average annual cost: $3,638

  • J.D. Power score: 794

Read our full Travelers review

Get quotes

Company highlights

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 logo

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

  • Written premiums: $5b

  • Market share: 4.18%

  • Policygenius rating: 4.4/5

  • Average annual cost: $1,491

  • J.D. Power score: 842

Get quotes

Company highlights

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.

How to get a quote

Online through American Family

8. Nationwide

Nationwide offers some of the best coverage options around, however the company has below-average scores from J.D. Power.

Pros

  • Written premiums: $3.5b

  • Market share: 2.94%

  • Policygenius rating: 4.2/5

  • Average annual cost: $1,955

  • J.D. Power score: 816

Read our full Nationwide review

Get quotes

Company highlights

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.

How to get a quote

Online through Policygenius or Nationwide

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9. Chubb

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.

  • Written premiums: $3.2b

  • Market share: 2.68%

  • Policygenius rating: 4.3/5

  • Average annual cost: $1,922

  • J.D. Power score: 809

Read our full Chubb review

Get quotes

Company highlights

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.

How to get a quote

Online through Policygenius or Chubb

10. Progressive

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.

  • Written premiums: $2.2 billion

  • Market share: 1.85%

  • Policygenius rating: 4.2/5

  • Average annual cost: $2,618

  • J.D. Power score: 801

Read our full Progressive review

Get quotes

Company highlights

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]  

State

Largest insurer

In-state market share

Alabama

State Farm

27.55%

Alaska

State Farm

33.29%

Arizona

State Farm

16.95%

Arkansas

State Farm

26.56%

California

State Farm

19.41%

Colorado

State Farm

20.97%

Connecticut

Travelers

8.68%

Delaware

State Farm

25.50%

District of Columbia

Travelers

22.03%

Florida

Universal

10.48%

Georgia

State Farm

25.49%

Hawaii

State Farm

35.51%

Idaho

Liberty Mutual

16.52%

Illinois

State Farm

33.54%

Indiana

State Farm

24.34%

Iowa

State Farm

25.71%

Kansas

State Farm

21.09%

Kentucky

State Farm

25.00%

Louisiana

State Farm

26.18%

Maine

State Farm

12.31%

Maryland

State Farm

17.24%

Massachusetts

MAPFRE Insurance

12.23%

Michigan

State Farm

17.04%

Minnesota

State Farm

26.4%

Mississippi

State Farm

25.24%

Missouri

State Farm

25.37%

Montana

State Farm

24.51%

Nebraska

State Farm

23.22%

Nevada

State Farm

18.85%

New Hampshire

Liberty Mutual

13.49%

New Jersey

Allstate

11.94%

New Mexico

State Farm

20.67%

New York

Allstate

16.38%

North Carolina

State Farm

16.68%

North Dakota

State Farm

15.09%

Ohio

State Farm

21.28%

Oklahoma

State Farm

28.99%

Oregon

State Farm

22.06%

Pennsylvania

State Farm

17.83%

Rhode Island

Amica

15.15%

South Carolina

State Farm

20.36%

South Dakota

State Farm

20.11%

Tennessee

State Farm

23.92%

Texas

State Farm

18.32%

Utah

State Farm

16.63%

Vermont

Vermont Mutual

12.05%

Virginia

USAA

18.6%

Washington

State Farm

17.74%

West Virginia

State Farm

26.82%

Wisconsin

American Family

22.43%

Wyoming

State Farm

22.44%

How to find the best 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 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.

Ready to shop home insurance?

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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?

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

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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

editorial standards.
  1. National Association of Insurance Commissioners

    . "

    Market Share Reports for Property/Casualty Groups and Companies By State and Countrywide 2022 edition

    ." Accessed November 01, 2022.

  2. J.D. Power

    . "

    2022 U.S. Home Insurance Study

    ." Accessed November 01, 2022.

Author

Senior Editor & Licensed Home Insurance Expert

Kara McGinley

Senior Editor & Licensed Home Insurance Expert

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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.

Expert reviewer

Michael Reynolds, CSRIC®, AIF®, CFT-I™, is a financial advisor, principal and founder of Elevation Financial, host of the weekly personal finance podcast Wealth Redefined®, and a member of the Financial Review Council at Policygenius.

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