Best Homeowners Insurance Companies of August 2022
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The best homeowners insurance companies of August 2022
Insider's experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.
A home is the biggest asset most Americans have, so you'll want to protect your dwelling by purchasing homeowners insurance.
Homeowners insurance is not required by law, but your lender will often require homeowners insurance to protect the home if you have a mortgage. And if you live in a disaster-prone area, you may need additional coverage.
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USAA Homeowners Insurance
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Amica homeowners insurance
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State Farm Homeowners Insurance
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Auto-owners homeowners insurance
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Allstate Homeowners Insurance
Insider looked at the top companies in size according to S&P Global data and customer satisfaction from J.D. Power and Associates. We also considered nationwide availability and the most recent credit rating from A.M. Best or Fitch Ratings.
View homeowners insurance quotes in your area
ZIP Code:
Age: 35-44
Current Insurer: Other
Best for homeowners insurance overall: Amica
- Ranked No. 1 in J.D. Power's homeowners insurance customer satisfaction survey.
- Wide array of discounts
- Not available in Alaska and Hawaii
- Ranked No. 1 in J.D. Power's homeowners insurance customer satisfaction survey.
- Loyalty discount, automatic detection devices discount, alarm system discount, claim free discount.
- Offers home insurance dividends on your policy.
Amica is a strong competitor in homeowners insurance customer satisfaction, earning the top spot in J.D. Power's study of all widely available insurers. It's available in 48 states.
According to Insurify, customers with Amica can expect to pay about $800 to $3,600 per year on their premiums. Your rate can be on par or slightly higher than the national average which is $1,272, according to the most recent data from the Insurance Information Institute. But, each home's costs for insurance vary widely based on a variety of factors, including your home's value
Visit Amica's homeowners insurance website to learn more.
Best for military members: USAA
- Good rates and customer satisfaction
- Only available to military, veterans, and their families.
- USAA's homeowner's insurance is for military members, veterans, and their families.
- Discounts for Connected Home, ADT security systems, and being claim-free for 5 years
- Covers personal belongings with no depreciation
- USAA members were surveyed, and if had included on J.D Power's homeowners customer satisfaction survey, it would have been No. 1.
USAA homeowners insurance is only available to active military, veterans, and their families. It's available in all states and consistently ranks at the top of claims and customer satisfaction surveys. USAA homeowners insurance features and discounts
According to Insurify, customers with USAA can expect to pay about $1,001 per year on their premiums. This is below the national average which is $1,272, according to the most recent data from the Insurance Information Institute. But, each home's costs for insurance vary widely based on a variety of factors, including your home's value
Visit USAA's homeowners insurance website to learn more.
Best homeowners insurance for customer satisfaction: State Farm
- Established insurance company
- Nationwide presence
- Highly rated customer satisfaction
- Highly rated claims satisfaction
- Discounts for bundling insurance products
- None — State Farm scores high marks across the board
- Homeowners insurance include Ting fire safety technology, cyber event identity restoration and fraud loss (CEIDR), and pet insurance
- Ranks highly for customer satisfaction
State Farm is an established insurance industry and ranks in the top ten in claims and customer satisfaction. Home insurance policies are available in all 50 states. They're also available to purchase on your own online without an agent.
According to Insurify, customers with State Farm can expect to pay about $2,500 to $4,000 per year on their premiums. This is more expensive than the national average for homeowners insurance which is $1,272, according to the most recent data from the Insurance Information Institute. But, each home's costs for insurance vary widely based on a variety of factors, including your home's value
Visit State Farm's homeowners insurance website to learn more.
Best homeowners insurance for discounts: Auto-owners
- Ranks #7 in J.D. Power's homeowners insurance customer satisfaction survey
- Insider's top pick for homeowners insurance
- Variety of discount and coverage options
- Not available in all states
- Ranks high in customer satisfaction
- Discounts for installing protective devices, being mortgage-free, having a home water shutoff system, and having a backup generator
- Coverage for identity theft, and coverage for household appliances
- Full replacement of your home if your coverage is too low
Auto-Owners insures about 1.5% of America's homes. A high financial strength rating, along with high marks for claims and customer service, helps this insurance company stand out.
Visit Auto-owners' homeowners insurance website to learn more.
Visit Auto-Owners' website to learn more.
The best for affordable homeowners insurance: Allstate
- Established company with national presence and quotes available online
- Rates are slightly higher than what other companies offer
- Offers HostAdvantage which is protection for your belongings while renting out your home.
- Offers flood insurance.
- Offers coverage during identity theft.
- You can get discounts for installing protective devices, and being claim free.
Allstate has been in business since 1931. You can get quotes online or through an agent.
According to Insurify, customers with Allstate can expect to pay about $1,295 per year on their premiums. This is slightly above the national average for homeowners insurance which is $1,272, according to the most recent data from the Insurance Information Institute. But, each home's costs for insurance vary widely based on a variety of factors, including your home's value
Visit Allstate's homeowners insurance website to learn more.
Visit Allstate's website to learn more.
Homeowners insurance companies ranked by affordability
The national average premiums for homeowners insurance is $1,272, according to the most recent data from the Insurance Information Institute. But, each home's costs for insurance vary widely based on various factors, including your home's value. Below are a few of the most affordable homeowners insurance companies across the nation:
| Insurance Company | Average Annual Premium | Average Monthly Premium |
|---|---|---|
| Erie | $992 | $83 |
| USAA | $1,001 | $84 |
| Nationwide | $1,221 | $102 |
| Allstate | $1,295 | $108 |
| Travelers | $1,304 | $109 |
Source: Insurify
ZIP Code:
Age: 35-44
Current Insurer: Other
Homeowners insurance companies ranked by customer satisfaction
The latest study from J.D. Power — a consumer research company that conducts consumer surveys — shows that a homeowners insurance company's customer service and reputation are more important than price for homeowners.
Here's how homeowners insurance companies ranked when consumers were asked about satisfaction overall:
| Homeowners insurance company | J.D. Power ranking out of 1,000 points |
| USAA* | 882 |
| Amica Mutual | 854 |
| Auto Club So California (AAA) | 840 |
| Erie Insurance | 835 |
| State Farm | 835 |
| Auto Club Group (AAA) | 834 |
| American Family Insurance | 831 |
| Auto-Owners Insurance | 831 |
| AIG | 830 |
| COUNTRY Financial | 830 |
| Allstate | 829 |
| CSAA (AAA) | 828 |
| ASI Progressive | 821 |
| Farmers | 813 |
| Nationwide | 812 |
| MetLife | 810 |
| Safeco | 810 |
| Liberty Mutual | 806 |
| Chubb | 801 |
| Travelers | 800 |
| The Hartford | 798 |
| Homesite | 779 |
*USAA is only for active military, veterans, and their families.
How did we decide the winners for the best homeowners insurance?
Insider looked at five factors to determine the best homeowners insurance: customer satisfaction ranking, claims satisfaction ranking, credit financial rating, and market share.
Customer satisfaction: We use J.D. Power's homeowners insurance customer satisfaction survey to evaluate the quality of service a company provides to its customers. Home insurers that ranked No.1 through #11 in the survey are considered above the industry average in customer satisfaction.
Financial stability ratings: We use AM's Best to determine a provider's financial strength. AM's Best is a credit rating agency that assesses an insurance company's ability to pay claims to its policyholders. A company that receives an A++ to B+ is stable in financial strength, while anything lower than a B means that a company is unstable or unable to meet its financial obligations.
Market share: The higher a company's market share, the more popular it is among policyholders nationwide. We gathered data on market shares from the S&P Global Market Intelligence.
Average premiums: While lower home and renters insurance premiums do not mean quality insurance, we do our best to balance a policy's cost with the value an insurer provides. A good premium is on par with or below the average cost of homeowners insurance which is $1,272, according to the most recent data from the Insurance Information Institute.
Best homeowners insurance companies — frequently asked questions (FAQ)
What is the average cost of homeowners insurance?
The average annual premium in the United States in 2019 was $1,272, according to the most recent data from the Insurance Information Institute.
But, each home's costs for insurance vary widely based on a variety of factors, including your home's value.
Here's how much homeowners insurance costs on average by home value in the United States, according to the most recent release of the Homeowners Insurance Report by the National Association of Insurance Commissioners (NAIC):
| Estimated home value | Average annual homeowners insurance premium |
| $49,999 and under | $645 |
| $50,000 to $74,999 | $748 |
| $75,000 to $99,999 | $826 |
| $100,000 to $124,999 | $888 |
| $125,000 to $149,999 | $937 |
| $150,000 to $174,999 | $981 |
| $175,000 to $199,999 | $1,018 |
| $200,000 to $299,999 | $1,114 |
| $300,000 to $399,999 | $1,272 |
| $400,000 to $499,999 | $1,482 |
| $500,000 and above | $2,148 |
What does homeowners insurance cover?
Homeowners insurance protects your dwelling, and your personal belongings. It also offers personal liability coverage for injuries that occur on your property.
Earthquakes, floods, government seizures, mudslides, ordinance updates, sewer backups, and sinkholes typically aren't covered under standard homeowners insurance policy and will require add-on coverage using a rider policy.
| Coverage | Included with homeowners insurance? |
| Dwelling/Structure | Yes |
| Personal liability | Yes |
| Personal belongings | Yes |
| Loss of Use (additional living expenses) | Yes |
| High-end electronics/special jewelry | Limited, requires add-on* |
| Equipment breakdown | Yes |
| Electrical outage | Yes* |
| Service lines | Yes* |
| Cyber liability | Yes* |
| Water damage | Yes |
| Flood | No** |
| Wind or hail | Yes, but not high winds*** |
| Earthquake | No* |
*Available as add-on coverage if not part of your policy
**Flood insurance is available through the NFIP and approved insurers
***If you live in hurricane or tornado areas, an additional windstorm rider may be required
What are the different types of homeowners insurance?
The type of homeowners insurance necessary depends on the type of home you purchased: condo, townhome, single-family, rental, or mobile home. Your coverage will vary based on the type of policy you have.
| Policy | Dwelling | Liability | Belongings | Peril Type |
| HO-1: Basic* | Yes | No | No | Named |
| HO-2: Broad* | Yes | No | Yes | Named |
| HO-3: Special | Yes | Yes | Yes | Open/Named |
| HO-4: Renters | No | Yes | Yes | Named |
| HO-5: Comprehensive** | Yes | Yes | Yes | Open |
| HO-6:Condo/Co-op | Yes*** | Yes | Yes | Named |
| HO-7: Mobile Homes | Yes | Yes | Yes | Open/Named |
| HO-8: Older homes | Yes | Yes | Yes | Named |
Townhomes can be HO-3 or HO-6
*Most lenders don't consider this sufficient coverage
**Typically for brand-new homes only
***Covered under condo association's master policy
How do I find homeowners insurance?
If you currently have homeowners insurance, review your policy coverage yearly. If your homeowners insurance company hasn't provided the level of service you expected, maybe it is time for you to select a new provider.
Remember that a cheap price doesn't mean good customer service. Focus on claims and customer satisfaction rankings, like those from J.D. Power, and comparison shop. This is especially important for those living in disaster-prone areas when good service can make all the difference.
Which homeowners insurance has the highest customer satisfaction?
According to the latest customer satisfaction survey from J.D. Power, USAA is the highest rated home insurance company. USAA is only available for military members, however, and the next highest-rated company is Amica Mutual.
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