8 Best Homeowners Insurance Companies

Homeowners insurance is a form of protection that covers your home, personal property, and legal and medical expenses if your home is damaged or you’re deemed liable for an accident that occured on your property. This type of insurance is also often required by mortgage lenders.

While there are a number of companies offering home insurance, not all policies are created equally. To find the best homeowners insurance, check out the table and reviews below, and keep reading to learn more about how these policies work.

Company	What stands out
Amica Mutual	Excellent customer service
Travelers	Customizable coverage
Allstate	Extensive network of local agents
State Farm	User-friendly website and mobile app
Safeco	Flexible coverage
Liberty Mutual	Added benefits, like inflation protection
Progressive	Name Your Price tool to find a policy to fit budget
USAA	Coverage tailored to military families

Best homeowners insurance companies

When searching for a comprehensive homeowners insurance plan, you’ll want to factor in each company’s financial strength, customer service, discounts, and extra coverage opportunities.

Amica Mutual
Travelers
Allstate
Safeco
Liberty Mutual
Progressive
USAA

Amica Mutual

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Why it’s one of the best

Amica Mutual is renowned for its exceptional customer service, which has earned it high ratings in customer satisfaction surveys year after year. The company offers a comprehensive range of coverage options and discounts, including those for bundling policies, loyalty, and claims-free customers.

Additionally, Amica provides dividend policies that return a portion of premiums to policyholders, making it a cost-effective choice.

Excellent customer service
Wide range of coverage options and discounts
Dividend policies that can reduce overall costs

Higher premiums compared to some competitors
Limited availability of local agents

Travelers

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Why it’s one of the best

Travelers stands out for its customizable coverage options and robust discounts, making it a versatile choice for homeowners with diverse needs. The company also offers extensive online tools and resources, which help policyholders manage their coverage and file claims efficiently. Travelers is also known for its financial stability and solid reputation in the insurance industry.

Customizable coverage options
Numerous discounts available
Strong financial stability and reputation

Customer service can be inconsistent
Higher premiums for some coverage options

Allstate

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Why it’s one of the best

Allstate is a top choice for homeowners insurance due to its extensive network of local agents and comprehensive coverage options.

The company offers innovative tools like the Digital Locker app, which helps policyholders catalog their possessions for easier claims processing.

Allstate’s wide range of discounts, including those for new homebuyers and bundling policies, also make it an attractive option.

Extensive network of local agents
Innovative digital tools for policy management
Wide range of discounts

Premiums can be higher than average
Mixed reviews on customer service

State Farm

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Why it’s one of the best

State Farm is a leading homeowners insurance provider known for its extensive network of local agents and solid financial stability.

The company offers a variety of coverage options that can be tailored to meet individual needs, including endorsements for high-value items and additional living expenses. State Farm also provides a range of discounts, such as multi-policy discounts and discounts for installing safety devices.

The company’s user-friendly website and mobile app make it easy for policyholders to manage their accounts, file claims, and access resources.

Extensive network of local agents
Solid financial stability
Variety of customizable coverage options
Range of discounts available
User-friendly website and mobile app

Premiums can be higher than average
Mixed reviews on claims handling

Safeco

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Why it’s one of the best

Safeco, a Liberty Mutual company, offers competitive homeowners insurance with flexible coverage options and a variety of discounts.

The company is known for its comprehensive coverage packages that can be tailored to fit individual needs. Safeco’s partnership with independent agents ensures personalized service and expert advice, enhancing the overall customer experience.

Flexible coverage options
Variety of discounts
Personalized service through independent agents

Average customer service ratings
Limited online resources compared to competitors

Liberty Mutual

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Why it’s one of the best

Liberty Mutual is highly regarded for its extensive coverage options and additional benefits such as inflation protection and new home discounts.

The company provides a user-friendly online platform and mobile app, making it easy for policyholders to manage their accounts and file claims. Liberty Mutual’s strong financial stability and nationwide presence also add to its appeal.

Extensive coverage options
User-friendly online platform and mobile app
Strong financial stability

Premiums can be higher than some competitors
Average customer service satisfaction

Progressive

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Why it’s one of the best

Progressive offers a comprehensive suite of homeowners insurance products, often bundled with its popular auto insurance policies for additional savings. The company’s Name Your Price tool helps customers find coverage that fits their budget.

Progressive also excels in providing a wide array of discounts and a robust online experience, including an intuitive mobile app for policy management.

Ability to bundle with auto insurance for savings
Name Your Price tool for budget-friendly options
Strong online and mobile app experience

Customer service can vary
Some coverage options may have limitations

USAA

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Why it’s one of the best

USAA is consistently rated among the best homeowners insurance providers for its exceptional customer service and comprehensive coverage tailored to military families.

The company offers unique benefits, such as uniform coverage for active duty members and replacement cost coverage for personal belongings. USAA’s strong financial ratings and customer satisfaction scores make it a top choice for eligible members.

Exceptional customer service
Comprehensive coverage tailored to military families
Unique benefits for military members

Eligibility limited to military members and their families
Higher premiums for some coverage options

How to choose the best homeowners insurance

Finding the best homeowners insurance for your needs is an important life decision. A study conducted by the Insurance Research Council (IRC) found that from 1997 to 2018, the severity of claims increased by 373%.

For example, a claim in 1997 for $10,000 in damages could now total $47,300 in 2018 for the same claim. As you can see, choosing a home insurance policy that leaves you vulnerable to uncovered damages can lead to significant financial loss.

If you’ve compared the financial and customer satisfaction ratings of the best homeowners insurance companies above and still aren’t sure which is right for you, here are a couple things worth considering to help you choose the right policy.

How Does Homeowners Insurance Work?

Deductibles

The deductible is the amount you will need to pay before your policy goes into effect. For example, if your home sustains $20,000 in covered damages, and your deductible is $2,000, then your insurance provider will pay you $18,000 for damages and you’ll pay $2,000 out-of-pocket.

Note that, unlike health insurance, homeowners insurance deductibles are typically charged on a per-claim basis. This means that you will have to pay your deductible for each claim you submit.

The deductible you choose directly influences the premium you will pay on your policy. To lower your monthly premium, you can consider taking a higher deductible. However, you’ll want to ensure you can afford paying your deductible in the event that you need to submit a claim to your provider.

How Does Homeowners Insurance Work?

Add-on coverage

The base coverage for a home insurance policy may not cover all of your belongings or financial needs. That’s why it’s important to review the policy after receiving a quote to consider whether any add-on coverage is necessary.

For example, your policy may state that certain high-value items, such as jewelry or art, are subject to item-specific coverage limits unless you add on an additional rider.

Or your coverage may provide actual cash value (ACV) coverage rather than replacement value coverage, meaning that if you lose your home to a disaster, you could end up receiving less than than it would cost to buy or build a new home today.

When comparing companies, don’t just compare the base coverage costs if you plan on purchasing additional coverage. Always compare costs after you know how much additional coverage you’ll need.

Discounts

Most homeowners insurance companies offer discounts to help lower the overall cost of your policy. However, not every company offers the same discounts. This is why it’s important to compare multiple options before committing to a provider. Some common discounts include:

Home and auto bundle
Loyalty
Security system
Smoke detectors
Claim-free
New home construction

Bundling

As mentioned above, a common discount offered through homeowners insurance policies is a home and auto bundle discount. This discount can lead to meaningful savings. For example, Allstate offers a discount of up to 25% when you bundle home and auto insurance. Compare the bundle discount from multiple companies to see which would lower your overall cost the most.

What does homeowners insurance cover?

At the start, a homeowners insurance policy typically provides coverage for your dwelling (the structure of your home), other structures (detached structures on the property, such as a garage), personal property (personal belongings on the property), loss of use (living expenses while your home is being repaired), and personal liability (legal and medical bills for injury or damage to someone else).

What does homeowners insurance not cover?

The list below includes some common coverage options that most home insurance companies don’t offer in the initial policy but can be added at an additional cost:

Extra contents
Replacement cost
Additional liability
Flood insurance
Earthquake insurance

Not all providers will offer the add-on coverage above. For example, if you are located in an area where floods or earthquakes are common, you may need to purchase a separate policy specifically for that purpose. Make sure to ask your insurance company what coverage it provides and whether that coverage is included in your base policy or needs to be added on.

Are you underinsured?

The first area where people tend not to have enough coverage is for their property. Sure, your home might be covered, but do you have full replacement cost or actual cash value coverage? If you have the latter, you might not be able to afford to rebuild your home if the replacement cost is more expensive than the current value of your home.

If you have items that are particularly expensive or are in certain categories like electronics or jewelry, your policy might not cover them without a special rider specifically insuring them. That’s why it’s important to make sure that you read your policy closely so you know what’s covered and where you might need extra coverage.

Another way you might not have enough coverage is when it comes to liability. Most homeowner plans come with around $100,000 in liability coverage by default. This will cover you in the event that someone is injured on your property. But consider the costs of severe injury with life-long repercussions. With just $100,000 in liability coverage, you may not have enough insurance to cover the expenses and loss of income the injured will face over their lifetime.

Additional resources

Recap of the best homeowners insurance

Company	What stands out
Amica Mutual	Excellent customer service
Travelers	Customizable coverage
Allstate	Extensive network of local agents
State Farm	User-friendly website and mobile app
Safeco	Flexible coverage
Liberty Mutual	Added benefits, like inflation protection
Progressive	Name Your Price tool to find a policy to fit budget
USAA	Coverage tailored to military families