Ratings Methodology for Homeowners Insurance Company Reviews

Policygenius offers in-depth, editorially independent reviews of homeowners insurance carriers.

Pat Howard 1600Haley Sprankle

By

Pat Howard

Pat Howard

Managing Editor & Licensed Home Insurance Expert

Pat Howard is a managing editor and licensed home insurance expert at Policygenius, where he specializes in homeowners insurance. His work and expertise has been featured in MarketWatch, Real Simple, Fox Business, VentureBeat, This Old House, Investopedia, Fatherly, Lifehacker, Better Homes & Garden, Property Casualty 360, and elsewhere.

&Haley Sprankle

Haley Sprankle

Reviews Editor

Haley Sprankle is a former reviews editor at Policygenius who specializes in homeowners and auto insurance. Previously, she was a writer at Wirecutter and The New York Times.

Updated|1 min read

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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.

→ Read our reviews of homeowners insurance companies

Price

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

Financial confidence

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.

Third-party ratings

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

  • Trustpilot 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.

Policy options

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

Customer experience

Ease of use, convenience, online tools, and availability.

The factors we look at for our customer experience score include:

  • State availability

  • Digital tools

  • 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.

Authors

Managing Editor & Licensed Home Insurance Expert

Pat Howard

Managing Editor & Licensed Home Insurance Expert

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Pat Howard is a managing editor and licensed home insurance expert at Policygenius, where he specializes in homeowners insurance. His work and expertise has been featured in MarketWatch, Real Simple, Fox Business, VentureBeat, This Old House, Investopedia, Fatherly, Lifehacker, Better Homes & Garden, Property Casualty 360, and elsewhere.

Reviews Editor

Haley Sprankle

Reviews Editor

gray twitter icon linkgray linkedin icon link

Haley Sprankle is a former reviews editor at Policygenius who specializes in homeowners and auto insurance. Previously, she was a writer at Wirecutter and The New York Times.

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