We rate each carrier in five different categories on a scale of 1 (lowest) to 10 (highest). These individual category scores are averaged for a final overall rating out of 5. Here’s how we evaluate insurance companies to help you choose a policy that’s right for you.
Average annual premium cost for a medium-sized home.
The factors we look at for our price score include:
How the price of homeowners insurance compares to the national average premium ($1,249)
The number and quality of homeowners insurance discounts
Consumer confidence based on scores from major financial rating institutions.
This confidence boils down to a company’s overall financial status, its credit standings, and its longevity. The factors we look at for our confidence score include:
Standard & Poor's rating (AAA to CC or lower)
Moody’s rating (Aaa to Ca or lower)
A.M. Best (A++ to F)
These company ratings are normalized and scored out of 10.
Satisfaction from consumer sentiment institutions and complaints to state insurance boards.
The factors we look at for our customer rating score include:
Consumer Affairs rating
Consumers Advocate rating
Complaints submitted to state insurance boards for individual homeowners insurance policies as measured by the National Association of Insurance Commissioners (NAIC) National Complaint Index Report
These ratings are normalized and scored out of 10.
Both the quality and number of coverage options, like unique homeowners insurance product tiers and availability of certain coverage endorsements.
The factors we look at for our policy option score include:
Number of policy tiers (the more tiers, the more more likely the company can meet your coverage and financial needs)
Standard coverages available (dwelling, other structures, personal property, additional living expenses, personal liability, medical expenses)
Availability and amount of coverage endorsements and add-ons
Ease of use, convenience, online tools, and availability.
The factors we look at for our customer experience score include:
Number and types of payment options
Ease of claims
Availability of additional claims services and perks, including but not limited to catastrophe centers, cash out claim options, and repairs companies
Policygenius offers insurance policies from many of the nation's top insurers, which pay us a commission for our services. However, all editorial choices are made independently.