Best Homeowners Insurance in 2024 (Your Guide to the Top 10 Companies)

These companies stand out in the market by offering tailored policies that address the unique needs of homeowners, ensuring comprehensive coverage protection against a variety of risks. Each provider also supports their clients with robust customer service resources, making policy management and claim filing processes smooth and efficient.

Our Top 10 Company Picks: Best Homeowners Insurance

By choosing one of these insurers, homeowners can secure their property with confidence, knowing they are backed by some of the industry’s leaders.

Searching for more affordable premiums? Insert your ZIP code above to get started on finding the right provider for you and your budget.

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#1 – State Farm: Top Overall Pick

Pros

• Bundling Policies: Significant discounts for bundling multiple insurance policies.
• Wide Coverage: Offers a variety of coverage options tailored for different needs. See more details on our article titled State Farm insurance review & ratings.
• High Customer Satisfaction: Known for high customer satisfaction in service and claims.

Cons

• Limited Multi-Policy Discount: Multi-policy discount not as competitive as others.
• Higher Premium Costs: Premiums can be relatively higher for certain coverage levels.

#2 – Nationwide: Best for Customizable Policies

Pros

• Customizable Policies: Offers a wide range of policy customization options. Learn more in our article titled Nationwide insurance review & ratings.
• Strong Financial Stability: Rated A+ by A.M. Best, indicating strong financial health.
• High Multi-Policy Discount: Provides a 28% discount for multiple policies.

Cons

• Variable Customer Service: Customer service quality can vary regionally.
• Complex Policy Options: Some customers may find the array of options overwhelming.

#3 – Allstate: Best for Discount Variety

Pros

• Diverse Discounts: Offers a variety of discounts including new homebuyer and loyalty.
• Innovative Tools: Provides digital tools for policy management and claims. If you want to learn more about the company, head to our article titled Allstate insurance review & ratings.
• Strong Agent Network: Extensive network of agents for personalized service.

Cons

• Higher Rates for Some Policies: Can be more expensive for certain policies without discounts.
• Claims Process Issues: Some users report delays in the claims process.

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#4 – Amica: Best for Customer Satisfaction

Pros

• Top-rated Customer Service: Consistently high ratings in customer satisfaction surveys.
• High-Quality Coverage: Offers comprehensive and high-quality policy options. Discover insights in our article titled Amica homeowners insurance review.
• Dividend Policies: Provides dividend policies that can return a portion of premiums.

Cons

• Limited Availability: Not available in all states.
• Premium Pricing: Higher-end pricing compared to some competitors.

#5 – USAA: Best for Military Focus

Pros

• Tailored for Military: Specializes in services for military members and their families.
• Exceptional Financial Stability: Rated A++ by A.M. Best. Unlock details in our article titled USAA insurance review & ratings.
• Comprehensive Benefits: Offers extensive benefits and discounts for military personnel.

Cons

• Eligibility Restrictions: Only available to military members, veterans, and their families.
• Limited Physical Locations: Fewer in-person service locations compared to others.

#6 – Liberty Mutual: Best for Flexible Policies

Pros

• Flexible Coverage Options: Offers a wide range of flexible policies to meet diverse needs.
• Disaster Preparedness Support: Provides resources and support for disaster-prone areas.
• Multi-Policy Discounts: Competitive multi-policy discounts available. Delve into our evaluation of our article titled Liberty Mutual review & ratings.

Cons

• Inconsistent Pricing: Customers may experience variability in pricing.
• Mixed Customer Reviews: Customer satisfaction varies significantly by region.

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#7 – Progressive: Best for Bundling Discounts

Pros

• Aggressive Bundling Discounts: Notable for offering substantial discounts on bundling.
• Wide Reach: Available widely across the country with varied insurance products. Read up on the “Progressive Insurance Review & Ratings” for more information.
• Online Resources: Extensive online tools for managing policies and filing claims.

Cons

• Customer Service Variability: Inconsistent customer service experiences reported.
• Basic Policy Offerings: Some policies may lack depth in coverage options.

#8 – Erie: Best for Competitive Rates

Pros

• Competitive Pricing: Known for competitive pricing in the insurance market.
• Personalized Service: Strong focus on personalized customer service. Access comprehensive insights into our Erie insurance review & ratings.
• Rate Lock Feature: Offers a rate lock feature to keep premiums stable.

Cons

• Regional Availability: Limited to certain states.
• Less Flexibility: Fewer options for policy customization compared to larger insurers.

#9 – Travelers: Best for Broad Coverage

Pros

• Extensive Coverage Options: Offers a broad range of coverage options. Discover more about offerings in our Travelers insurance review & ratings.
• Strong Financial Rating: Rated A++ by A.M. Best, ensuring financial reliability.
• Green Home Discount: Provides discounts for environmentally-friendly home improvements.

Cons

• Pricing Above Average: Premiums can be higher than average for comparable coverage.
• Complex Policies: Policies can be complex and difficult for some to understand.

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#10 – The Hartford: Best for AARP Member Benefits

Pros

• AARP Endorsement: Exclusively offers benefits and discounts for AARP members.
• Specialized Coverage: Provides tailored policies for seniors. Check out insurance savings in our complete The Hartford insurance review & ratings.
• Lifetime Renewability: Offers a lifetime renewability feature for AARP members.

Cons

• AARP Membership Required: Coverage is limited to AARP members.
• Higher Costs for Non-Members: Non-members may find similar coverage at lower costs elsewhere.

Comparative Monthly Rates for Homeowners Insurance by Provider and Coverage Level

When selecting homeowners insurance, understanding the monthly rates based on coverage levels across different providers is crucial. This table provides a snapshot of what you might expect to pay for minimum and full coverage policies from various insurance companies.

Homeowners Insurance Monthly Rates by Coverage Level & Provider

The table indicates that The Hartford offers the lowest monthly rate for minimum coverage at $66, while Nationwide commands the highest rate for full coverage at $205. Providers like Allstate and Amica offer a range of rates from $80 to $200 and $70 to $165, respectively, illustrating a significant variance in pricing between minimum and full coverage options.

Other companies like State Farm and USAA also show a consistent range in their pricing, emphasizing the importance of comparing rates to find the best fit for one’s specific needs and budget. Learn more in our “How much insurance coverage do I need?”

What Are the Best Home Insurance Companies

The best homeowners insurance companies for you depend on a variety of factors, including where you live and how old your house is. However, some companies generally have better reviews than others.

Listed below are some of the top home insurance companies on the market. Although there are several things to consider before choosing a policy, the following home insurance companies are an excellent place to start looking for coverage.

Lemonade Home Insurance

Lemonade is a little different than many of its competitors. Rather than offering physical offices customers can visit, Lemonade offers a completely virtual insurance experience.

Although Lemonade is only available in 37 states and the District of Columbia, it still receives top marks for home insurance. It’s also one of the most expensive homeowners insurance companies, with only Allstate beating it for the highest rates.

Lemonade offers one of the longest lists of home insurance add-on lists, including equipment breakdown, water backup, and swimming pool coverage.

Despite having higher rates, most customers love Lemonade home insurance. One of the most popular reasons why people love Lemonade home insurance is that filing claims, managing policies, and getting help are incredibly easy with its online tools. Moreover, Lemonade car insurance discounts can further sweeten the deal for homeowners looking to bundle their coverage and save on multiple policies.

State Farm Home Insurance

While State Farm car insurance is probably better known, State Farm also has excellent home insurance. When you buy a homeowners insurance policy from State Farm, you’ll have the option for a bundling discount if you also purchase coverage for your vehicle.

State Farm home insurance is available in all 50 states. It also receives better reviews for its home insurance than car insurance. Although State Farm has quality policies, it’s one of the cheapest house insurance companies on the market.

State Farm doesn’t have as many add-ons as Lemonade, but it does offer some valuable protection. It provides protection from identity theft and inflation, as well as extra coverage for your most valuable possessions.

American Family Home Insurance

Another company better known for its car insurance, American Family sells home insurance in only 23 states. American Family runs CONNECT, which sells and manages home insurance policies for Costco customers. If you buy homeowners insurance through Costco, CONNECT operates in 44 states.

American Family has the benefit of being one of the cheapest companies for home insurance. It doesn’t have the most add-ons, but there are a few good ones to choose from. One that stands out is its matching siding add-on. It will replace all the sidings on your house if one gets damaged so that everything matches.

Like State Farm, you’ll likely get a discount if you bundle multiple insurance policies. You’ll have multiple ways to manage your policy as well — American Family customers can use the website or mobile app, speak with a representative on the phone, or visit a local office.

Check out our American Family insurance review to learn more.

Nationwide Home Insurance

Despite what its name suggests, Nationwide home insurance is not available in every state. Residents of Alaska, Hawaii, Louisiana, New Mexico, Florida, Massachusetts, and New Jersey will need to look elsewhere for homeowners insurance.

If you live in a state Nationwide operates in, it will probably be one of your cheapest options. As a bonus, Nationwide includes identity theft protection in every standard homeowners insurance policy it sells.

Nationwide offers several add-ons for your home insurance, including earthquake and flood coverage, upgraded roof replacement, and extra coverage for valuable possessions like antiques and art. Along with a solid list of add-ons, Nationwide also offers several discounts.

Visit our Nationwide home insurance review to learn more.

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What Are the Cheapest Home Insurance Companies

While the companies listed above offer some of the best home insurance on the market, they’re not always the cheapest. If sticking to a budget is important to you, the following companies usually offer cheap home insurance rates:

• Erie Insurance
• Auto-Owners Insurance
• State Farm
• Nationwide
• Travelers

See our Auto-Owners insurance review for details.

While these are some of the cheapest companies for home insurance, you might find lower rates elsewhere. Companies look at a variety of factors when determining your rates, so it’s important to compare multiple quotes when determining how much home insurance costs.

When obtaining home insurance quotes, several factors influence your rates. Location impacts costs, with higher rates in areas prone to crime or severe weather. The cost to rebuild your home also affects premiums, as more expensive homes lead to higher repair or replacement costs. Older homes generally incur higher rates due to costly materials and frequent repairs, often necessitating a 4-point inspection.

The amount of coverage correlates with cost; more coverage leads to higher premiums. Installing safety features like smoke alarms can reduce rates, while your credit history also impacts costs, with lower scores increasing them. Therefore, it’s crucial to compare quotes, as some companies may offer more favorable rates for factors like a low credit score, such as Kemper Insurance.

Read more: Kemper Car Insurance Discounts

Your location significantly influences which insurance provider offers the most cost-effective rates. For instance, while Allstate typically ranks among the pricier choices for home insurance, it emerges as a notably affordable option in Oklahoma. This factor is crucial when considering what does homeowners insurance cover and finding the best price.

Which Companies Offer the Best Home and Car Insurance Bundles

Bundling different types of insurance policies from the same company is a great way to earn a discount on your coverage. Home and car insurance are some of the most commonly purchased policies, so most major companies sell both.

If you’re looking for the best car and home insurance discounts, here are the companies that offer bundle options:

• State Farm: According to State Farm, customers can save up to 20% on their policies for bundling home and car insurance. You can also earn this discount if you have a condo or renters insurance policy.
• Allstate: It might not be the cheapest company, but bundling home and car insurance can save you up to 25% on your Allstate policy.
• Farmers: Farmers offers up to 20% off your insurance if you buy a new car and homeowners policy at the same time. You’ll still get a discount if you add them separately, but it will be a little less.
• Nationwide: Nationwide is one of the few companies that offers a bundling discount for more than just car and home insurance combinations. If you buy home, car, and life insurance, you’ll see even bigger savings.
• American Family: You can save up to 23% on your home and car insurance if you bundle both from American Family.

Learn more through our Farmers insurance review.

Another key advantage of bundling your insurance, besides the cost savings, is the convenience it provides in managing multiple policies. With all policies consolidated into one account, making payments and initiating claims becomes notably easier, particularly if you’re searching for cheap house insurance near me.

What Does Home Insurance Cover

Most homeowners insurance policies include several key features. Dwelling protection covers the structure of your home and detached buildings from damage due to incidents like fire or theft. Personal liability ensures coverage if someone is injured on your property, handling legal and medical expenses. Personal property coverage protects items inside your home, such as appliances and clothing.

Moreover, should your home become uninhabitable, the policy includes coverage for living expenses while repairs are underway. It’s crucial to understand that standard policies usually exclude earthquakes and floods, hence, additional coverage might be required in areas susceptible to these events. Ensure your insurance company home policy is adequately tailored to your needs.

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How Do You Choose the Best Home Insurance Policy

Selecting the appropriate home owners insurance policy may seem daunting, but it can be straightforward. Begin by determining the necessary amount of coverage, taking into account the rebuilding costs of your house, the worth of your belongings, and the specific risks of your location.

Next, pick a company; as you’ve seen, prices and available coverage options, along with discounts, vary significantly between companies. Finally, choose your policy. It’s crucial to compare multiple quotes to ensure you find the most competitive price for the coverage you require. This process can help simplify the task of finding the ideal home insurance plan to meet your needs.

When you’re looking for the best homeowners insurance policy, you must compare rates with multiple companies. Home insurance can be expensive, and you’ll likely overpay if you don’t compare rates. See more details on our “Best Home Insurance for Renovations.”

Find the Best Home Insurance Policy Today

No matter if your residence is a grand estate or a small dwelling, home property insurance is vital for safeguarding your property. Evaluating various options is a key part of ensuring that all aspects that make your house a home are protected.

When you are preparing to purchase a homeowners insurance policy, comparing various quotes is crucial to securing affordable coverage. Although certain insurers may offer the lowest average rates, the ideal company for you could vary. Delve into our evaluation of guide titled “22 Tips for How to Get Cheap Home Insurance.”

Use our free quote comparison tool below to find the cheapest coverage in your area.

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