Best Home Insurance Providers 2024 (Your Guide to the Top 10 Companies)
State Farm, Progressive, and Allstate stand out as top-notch for best home insurance providers, offering rates as affordable as $140/month starting. With their comprehensive policies, they cater perfectly to homeowners seeking discounts, extensive coverage, and peace of mind.
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Heidi Mertlich
Licensed Insurance Agent
Heidi works with top-rated life insurance carriers to bring her clients the highest quality protection at the most competitive prices. She founded NoPhysicalTermLife.com, specializing in life insurance that doesn’t require a medical exam. Heidi is a regular contributor to several insurance websites, including FinanceBuzz.com, Insurist.com, and Forbes. As a parent herself, she understands the ...
Licensed Insurance Agent
UPDATED: Apr 4, 2024
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Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Apr 4, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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13,128 reviewsCompany Facts
Avg. Monthly Rates
A.M. Best Rating
Complaint Level
Pros & Cons
13,128 reviews
11,413 reviewsCompany Facts
Avg. Monthly Rates
A.M. Best Rating
Complaint Level
Pros & Cons
11,413 reviews
State Farm stands out as the best home insurance provider, offering competitive rates and comprehensive coverage for as low as $140/month.
Together with Progressive and Allstate, they guarantee cost-effectiveness and high-quality protection customized to meet the needs of homeowners.
Our Top 10 Company Picks: Best Home Insurance Providers
| Company | Rank | Homeowner Association Discount | A.M. Best | Best For | Jump to Pros/Cons |
|---|---|---|---|---|---|
 | #1 | 2% to 10% | A++ | Personalized Policies | State Farm |
 | #2 | 3% to 5% | A+ | Combining Discounts | Progressive |
 | #3 | 2% to 7% | A+ | Customized Policies | Allstate |
 | #4 | 3% to 5% | A | 24/7 Support | Liberty Mutual |
 | #5 | 2% to 8% | A | Various Discounts | Farmers |
 | #6 | 2% to 6% | A+ | Commercial Insurance | Nationwide |
 | #7 | 2% to 7% | A | Customer Service | American Family |
 | #8 | 3% to 5% | A++ | Specialized Coverage | Travelers |
 | #9 | 2% to 7% | A++ | High-Value Insurance | Erie |
 | #10 | 3% to 5% | A+ | Exclusive Benefits | The Hartford |
With strong financial ratings and positive customer feedback, homeowners trust these insurers to safeguard their investments effectively against various risks. Enter your ZIP code to compare home insurance right now.
- State Farm offers policies and competitive rates starting at $140/month
- Discover the top-rated home insurance providers to suit your specific needs
- Explore expert reviews and comparisons in selecting the top homeowner insurance
Opt for home insurance with ample coverage at affordable rates from a trusted provider. Understand what home insurance covers to secure your investment effectively. Enter your ZIP code to compare top-rated providers and find the right policy, avoiding surprises during claims.
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#1 – State Farm: Top Overall Pick
Pros:
- Personalized Policies: State Farm tailors policies to meet individual homeowner needs.
- Competitive Rates: State Farm offers affordable rates, ensuring homeowners get value for money.
- Comprehensive Coverage: According to our State Farm home insurance review, State Farm provides extensive coverage options for various risks.
Cons:
- Limited Availability: State Farm’s services may not be accessible in all areas.
- Potential Premium Increases: Premiums may rise over time, affecting affordability.
#2 – Progressive: Best for Combining Discounts
Pros:
- Bundle Savings: Progressive allows bundling home and auto policies for extra savings.
- 24/7 Support: Progressive provides round-the-clock assistance for claims and inquiries
- Easy Comparison: Progressive simplifies comparing quotes from multiple insurers.
Cons:
- Customer Service Concerns: Some clients report issues with Progressive’s customer service. See more in our Progressive home insurance review.
- Limited Coverage Options: Progressive may offer fewer coverage options compared to rivals.
#3 – Allstate: Best for Customized Policies
Pros:
- Discount Opportunities: Allstate provides various discounts, potentially reducing premiums.
- Comprehensive Protection: Allstate offers extensive coverage options for different risks.
- Mobile App Convenience: Allstate’s app offers easy access to policy information and claims filing.
Cons:
- Higher Premiums: Allstate’s premiums may be higher than other insurers. See our Allstate home insurance review for more details.
- Availability Restrictions: Allstate may not operate in all regions, restricting options for homeowners.
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#4 – Liberty Mutual: Best for 24/7 Support
Pros:
- Multi-Policy Discounts: Liberty Mutual offers discounts for bundling home and auto policies.
- Financial Strength: Written in our Liberty Mutual home insurance review, Liberty Mutual has strong financial ratings for claims security.
- 24/7 Claims Assistance: Liberty Mutual provides round-the-clock support for claims processing.
Cons:
- Discount Limitations: Some homeowners may find Liberty Mutual’s discounts less extensive.
- Service Issues: Some clients express dissatisfaction with Liberty Mutual’s customer service.
#5 – Farmers: Best for Various Discounts
Pros:
- Discount Availability: Farmers offers various discounts, potentially reducing premiums.
- Additional Coverages: Farmers provides options like identity theft protection and equipment breakdown coverage.
- Claims Handling: Farmers is praised for responsive and efficient claims processing.
Cons:
- Higher Costs: Some homeowners may find Farmers’ premiums higher compared to competitors.
- Limited Availability: Farmers restrict options for some homeowners. Find out more in our Farmers home insurance review.
#6 – Nationwide: Best for Commercial Insurance
Pros:
- Bundle Savings: Nationwide provides discounts for policies, potentially reducing costs. Check out our Nationwide home insurance review for details.
- Extensive Coverage: Nationwide offers options to safeguard homeowners from various risks.
- Additional Protections: Nationwide provides extra coverage options like identity theft protection and flood insurance.
Cons:
- Service Issues: Some clients express dissatisfaction with Nationwide’s customer service.
- Limited Discount Range: Nationwide’s discount offerings might not be as extensive as other insurers.
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#7 – American Family: Best for Customer Service
Pros:
- Tailored Policies: American Family customizes policies to fit homeowners’ specific needs.
- Financial Strength: American Family boasts strong financial ratings.
- Efficient Claims Handling: American Family is known for prompt and responsive claims processing. Read more of their efficiency in our American Family home insurance review.
Cons:
- Availability Restrictions: American Family may not operate in all regions, limiting coverage options.
- Possible Higher Costs: Some homeowners may find American Family’s premiums higher compared to competitors.
#8 – Travelers: Best for Specialized Coverage
Pros:
- Multiple Discounts: Travelers provides discounts to potentially save money.
- Additional Coverage: Travelers offers extra protections such as identity theft and green home coverage.
- Personalized Policies: Travelers tailors policies to meet homeowners’ specific requirements.
Cons:
- Customer Service Issues: Some customers report dissatisfaction with Travelers’ service, including claims handling.
- Limited Options: According to our Travelers home insurance review, Travelers may not offer coverage in all areas.
#9 – Erie: Best for High-Value Insurance
Pros:
- Customized Policies: Erie customizes policies to match homeowners’ unique needs.
- Discount Opportunities: Erie offers various discounts, helping homeowners save on premiums.
- Responsive Claims Processing: Erie is known for efficient and prompt claims handling.
Cons:
- Restrictions: Erie may not be available in all areas. Know their availability through our Erie home insurance review.
- Potential Higher Premiums: Some homeowners may find Erie’s premiums higher compared to other insurers.
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#10 – The Hartford: Best for Exclusive Benefits
Pros:
- Extensive Coverage: The Hartford offers comprehensive coverage options for diverse risks.
- Multi-Policy Discounts: The Hartford provides discounts for bundling home and auto insurance policies.
- Customized Policies: The Hartford tailors policies to meet homeowners’ specific needs.
Cons:
- Limited Availability: The Hartford may not offer coverage in all areas, limiting homeowners’ options.
- Customer Service Concerns: According to our The Hartford’s home insurance review, some customers report dissatisfaction with The Hartford’s service.
Top Ten Insurance Companies
Top 10 Homeowners Insurance Companies by Market Share
| Companies | Average Annual Rates (For $500,000 Home in Pasadena) | A.M. Best Rating | Market Share Percentage |
|---|---|---|---|
| State Farm | $972 | A++ | 18.50% |
| Allstate | $1,047 | A++ | 8.36% |
| Liberty Mutual | $1,076 | A | 6.74% |
| USAA | $1,154 | A++ | 6.24% |
| Farmers Insurance | $1,869 | A | 5.86% |
| Travelers | $795 | A++ | 3.81% |
| American Family Insurance | $1,127 | A | 3.32% |
| Nationwide | $961 | A+ | 3.22% |
| Chubb Ltd Group | $2,031 | A++ | 2.87% |
| Erie Insurance Group | N/A | A+ | 1.70% |
Read more:
- American Family Home Insurance Company Review
- American Strategic Insurance Corp Review
- Homeland Insurance Company of New York Review
- Homeowners of America Insurance Company: Customer Ratings & Reviews
- MGIC Indemnity Corporation Review
- National Fire and Indemnity Exchange Review
- National Fire & Marine Insurance Company Review
- Old Republic Insurance Company: Customer Ratings & Reviews
- Old Republic Union Insurance Company Review
- Pacific Star Insurance Company Review
- Service American Indemnity Company Review
- Southern Guaranty Insurance Company Review
- Southern States Insurance Exchange Review
- The Travelers Indemnity Company of America Review
- Tower Hill Prime Insurance Company
- Topa Insurance Company Review
- Tower National Insurance Company: Customer Ratings & Reviews
- U.S. Underwriters Insurance Company Review
- United Casualty and Surety Insurance Company Review
- United Fire & Indemnity Company Review
Common Types of Homeowners Insurance Coverage
Homeowners Insurance Policy Types and Average Annual Rates
| Policy Type | Policy Name | Definition | 2017 Average Annual Rates |
|---|---|---|---|
| HO-1 | Basic Form Policy | Named peril coverage for single-family dwelling. | $1,657 |
| HO-2 | Broad Form Policy | Extended named peril coverage for single-family dwelling. | $1,144 |
| HO-3 | Special Form Policy | Standard homeowners insurance; open peril coverage for single-family dwelling. | $1,211 |
| HO-4 | Renters Insurance | Personal property coverage for renters. | $180 |
| HO-5 | Comprehensive Form Policy | Extended open peril coverage for single-family dwelling. | $1,292 |
| HO-6 | Condominium Form Policy | Open peril coverage for condo owners. | $488 |
| HO-7 | Mobile Home Form Policy | Open peril coverage for mobile home owners. | N/A |
| HO-8 | Older Home Form Policy | Open peril coverage for older single-family dwellings. | $989 |
Read more:
- Top Texas Mobile Home Insurance Providers
- Flood Zone X: Homeowners Insurance Explained
- HO-6 vs. Renters Insurance: What You Need to Know
- Dwelling Fire Policies
- Landlord Insurance
- Seasonal Insurance
- Flood and Earthquake Insurance
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Named Perils vs. Open Perils
The initial consideration is determining if a policy falls under named perils or open perils coverage.
A peril is an event causing damage to your house, ranging from storms to break-ins. Under a named perils policy, all covered perils are listed in the policy. Damage from any unlisted peril won’t be covered. For instance, HO-1 and HO-2 policies are named perils policies, specifying covered perils.
If you have an open perils policy, which is sometimes also referred to as a special perils policy or all-perils policy, your house is protected from every peril except those that are specifically excluded in your policy.Ty Stewart Licensed Insurance Agent
Determining How Much Homeowners Insurance You Need
- Replacement Cost Home Insurance vs. Actual Cost Home Insurance: Check if your home insurance covers replacement costs to ensure sufficient benefits for claims, crucial for managing the average cost of homeowners insurance.
- Dwelling Fire Insurance: A dwelling fire policy offers basic home insurance but is less common, potentially impacting mortgage approval, yet remains useful for vacant or seasonal homes and as an alternative to landlord insurance.
Let’s break down the three types of dwelling fire policies.
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- Landlord Insurance: Landlord insurance provides protection for homeowners renting out their property, covering the landlord’s belongings and liability concerns.
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- Dwelling insurance protects the landlord’s home structure.
- Other structures insurance covers detached constructions.
- Personal property coverage includes items provided by the landlord.
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- Seasonal Insurance: Named perils policies like HO-1 and HO-2 may not fully cover unique or disaster-prone seasonal homes. Seasonal insurance offers tailored comprehensive coverage, similar to HO-3, with customization for assets like lakefront structures.
- Flood and Earthquake Insurance: Consider flood and earthquake insurance for homes in vulnerable areas, as standard policies typically exclude these risks. Explore options from insurers or the Assurant Flood Insurance for tailored coverage.
Read more:
- Can you buy homeowners insurance for a home you don’t live in?
- How much will my home insurance go up every year?
Common Limitations from the Top Homeowners Insurance Providers
Home insurance provides financial protection against unforeseen expenses for your property. Without coverage, significant damage like a fire could lead to irreparable financial losses.
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Case Studies: Best Home Insurance Providers
Discover firsthand accounts illustrating the significance of homeowners insurance in shielding against diverse hazards and calamities.
- Case Study 1: Protecting Against Natural Disasters: Amid a Category 4 hurricane, the Johnsons, living in a coastal area prone to hurricanes, turned to their homeowners insurance provider, covering repair and restoration costs promptly, allowing them to rebuild and regain stability swiftly.
- Case Study 2: Swift Response to Fire Damage: After a house fire, insured by a leading homeowners insurance provider, the Ramirez family quickly filed a claim and received supportive assistance, allowing them to recover and return home promptly.
- Case Study 3: Comprehensive Coverage for Theft and Vandalism: After a burglary, the Parkers relied on their top homeowner insurance provider for help, appreciating its comprehensive coverage and prompt reimbursement, allowing them to restore their home.
- Case Study 4: Water Damage Mitigation and Restoration: The Petersons relied on their top homeowners insurance for help with water damage, including extraction and repairs, ensuring their home was restored without financial strain.
- Case Study 5: Personal Liability Coverage in Action: The Thompsons, whose dog bit a guest, were grateful for their top homeowners insurance, which provided strong personal liability coverage for medical expenses and potential legal issues.
Best Home Insurance Providers: The Bottom Line
Your choice of insurance policy should be as meticulous as selecting your home. Whether opting for standard or customized coverage, consider factors such as
- Policy type and coverage options (HO-1, HO-2, HO-3, HO-4, HO-5, HO-6, HO-7, HO-8)
- Open versus named perils
- Actual cash value versus replacement cost
- Coverage limits
- Add-ons, endorsements, and riders
- Average premiums
Regularly review your insurance to ensure adequate protection, as the best option can vary annually.
Now that you’re informed about the reliable insurance companies, which coverage will you choose to safeguard your home? Get quotes by entering your ZIP code below.
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Frequently Asked Questions
What is the best homeowners insurance in the market?
Allstate is popular among many homeowners, and military families get the best rates from USAA Insurance Review. Compare quotes online to find the top homeowners insurance provider in your neighborhood.
What is the cheapest homeowners insurance?
You will have to compare home insurance quotes online from multiple companies to find the cheapest homeowners insurance rates for your property.
Which is the highest-rated home insurance customer service?
According to the J.D. Power home insurance study, Amica Mutual has the highest customer satisfaction, while Nationwide has the best customer service among renters. Start comparing now by entering your ZIP code.
What is the most trusted homeowners insurance provider?
The most trusted home insurance provider will depend on the kind of policy you need and the companies available in your state. Use our free quote tool below to find highly-rated home insurance companies near you.
How can I find home insurance companies near me?
Most of the major home insurance companies offer coverage nationwide. If you’re looking for a local agent, try the agent search on the company website. You can also contact your state insurance department for information on which companies operate in your area. Check out further details now by entering your ZIP code.
Which homeowners policy provides the most coverage?
If you want the most home insurance coverage possible, consider an HO-5 policy that covers all damages except those clearly excluded, such as flood and earthquake damage.
How do I determine the right kind of home insurance for my needs?
There are varying levels of home insurance coverage, so it’s important to consider factors such as your home’s value, location, and your specific needs. Assess the risks you want to protect against, such as fire, theft, and windstorms, and choose a policy that provides adequate coverage for those risks.
What is the difference between replacement cost and actual cost home insurance?
Replacement cost home insurance pays for the cost to replace damaged items with new ones, while actual cost home insurance reimburses you for the original cost of the items minus depreciation. Replacement cost coverage is generally preferable as it provides greater benefits, but it may come with higher premiums. Find out more by entering your ZIP code.
What are the coverage limitations for home insurance?
Home insurance coverage limitations can vary based on the type of policy and the value of your home and property. It’s crucial to have sufficient coverage to protect your assets in the event of severe damage or loss. Regularly review and update your insurance coverage to account for any upgrades or changes to your home.
What are the top ten insurance companies?
What are the common types of homeowners insurance coverage?
What are named perils vs. open perils?
How to Determine How Much Homeowners Insurance You Need?
What are some factors to consider when evaluating the ratings of home insurance companies?
What is the highest-rated homeowner insurance company?
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Heidi Mertlich
Licensed Insurance Agent
Heidi works with top-rated life insurance carriers to bring her clients the highest quality protection at the most competitive prices. She founded NoPhysicalTermLife.com, specializing in life insurance that doesn’t require a medical exam. Heidi is a regular contributor to several insurance websites, including FinanceBuzz.com, Insurist.com, and Forbes. As a parent herself, she understands the ...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.