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Your home is among your most valuable possessions, so you ought to protect it with homeowners insurance. Choosing among the many insurance providers can feel like an overwhelming task, but if you focus on the best home insurance companies, you can make things a lot easier for yourself. Here are some of our favorite home insurance providers for several common scenarios.
With its variety of coverage options and affordable rates, Allstate stands out as one of the best homeowners insurance companies. It offers a large slate of endorsements you won't find with many of its competitors, including protection for users of home-sharing services. But perhaps its sweetest offering is the trifecta of perks -- Claim RateGuard®, claim-free rewards, and Deductible Rewards℠ -- that help homeowners keep their out-of-pocket costs low.
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State Farm does its best to accommodate all types of homeowners, ranging from do-it-yourselfers who are happy to get quotes and purchase a policy all on their own to those who value the support of an experienced insurance agent. Its variety of policy endorsements and the fact that it's one of the only house insurance companies that doesn't impose dog breed restrictions only add to its appeal.
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Nationwide is one of the best cheap home insurance companies, in part thanks to its large selection of homeowners discounts, which helps it offer competitive rates to most homeowners. Nationwide doesn't skimp on coverage either, offering enhanced coverage options for roofing and personal belongings that many other insurers don't.
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Erie Insurance customers who bundle home and auto insurance could save up to 25% on their premiums. That's a tempting reason to consider it, but it's not the only one. Customers can also look forward to strong customer satisfaction ratings and guaranteed replacement cost coverage included at no additional cost.
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While Travelers has a lot of great coverage options that appeal to a broad base of homeowners, it's especially popular with those interested in green homes and sustainable living. Not only does it offer green home coverage to help homeowners rebuild their home with greener materials, it also rewards green homeowners with a sweet discount on their premiums.
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USAA is the go-to home insurance provider for just about everyone who qualifies for it. Unfortunately, it's only available to military members, veterans, and their families. Homeowners who fall into one of these groups should definitely give it a look as it's often one of the most affordable home insurance companies around, and its customer satisfaction ratings are the highest in the industry.
Read USAA review
Amica isn't as well known as some of the other home insurance companies on this list, but if you asked its customers about their experiences, most would probably give you glowing reviews. Amica was one of the highest-scoring companies in J.D. Power's most recent Home Insurance Customer Satisfaction survey. While its coverage options may not be as extensive as some of its competitors, it does the basics extremely well, and you won't find an equal to its dividend policies anywhere else.
Read Amica review
Hippo home insurance embraces technology in a way that many other home insurance companies do not. This has led it to develop a simple, intuitive quote tool that can tell homeowners how much they'll pay in about a minute. The company also believes that smart home devices can make your home safer and even prevent certain types of claims, so it throws in a free home monitoring system for those who want one.
Read Hippo review
Homeowners insurance is a type of insurance policy that protects the policyholder's home and personal property against storm damage, theft, vandalism, and other hazards. It can also help homeowners pay to stay somewhere else if they're forced to vacate their current home.
However, a typical homeowners insurance policy doesn't protect homeowners against everything. Flood and earthquake damage are typically excluded. Those interested in these types of coverage must purchase a separate flood or earthquake insurance policy.
Homeowners who have mortgages often have to deal with homeowners insurance lender requirements. This is where lenders require homeowners to purchase insurance to ensure it will still get paid even if the home is destroyed in a natural disaster.
Those who own their home outright aren't required to purchase homeowners insurance, but it's a good idea to have coverage anyway. Without homeowners insurance, you must pay for any damage to your home on your own, and this could easily cost tens or hundreds of thousands of dollars.
The amount of home insurance coverage a homeowner needs depends on several factors, including the location and size of the home and the quality of the home's finishings.
Homeowners may be able to calculate this on their own if they know the square footage of their home and the rough cost of construction per square foot in their area. Online home value calculators or professional appraisers can also help homeowners determine how much home insurance coverage they need.
When choosing among the many homeowners insurance companies out there, it's important to keep in mind what's most important to you in a policy. Price is obviously an important factor for everyone, but it's not the only thing you should bear in mind. You should also think about:
Evaluate all of these things and pick out a few companies that fit what you're looking for. Then, get quotes from all of them and compare them side by side to decide which policy suits you best.
|Offer||Best For||Next Steps|
|Great For: Best for discounts and fully customizable coverage||Get A Quote|
|Great For: Flexible policies||Get A Quote|
|Great For: Homeowners discounts||Get A Quote|
|Great For: Bundling policies||Get A Quote|
|Great For: Green homes||Get A Quote|
|Great For: Best for military members, veterans, and their families||Get A Quote|
|Great For: Customer service||Get A Quote|
|Great For: Tech-savvy homeowners||Get A Quote|
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