Top homeowners insurance companies in 2022
- USAA: Best overall
- State Farm: Best overall
- Erie: Best for robust coverage
- NJM: Best for unique discounts
- Lemonade: Best for digital experience
- Amica: Best for customer experience
- Nationwide: Best for cheap rates for high-value homes
- Allstate: Best for insurance educational resources
Using 2022 average annual premiums from Quadrant Information Services, available coverage options, discounts, overall customer satisfaction and fiscal strength as measures — along with our proprietorship Bankrate Score — we identified property insurers that may be great options for the majority of homeowners across the U.S.
Top homeowners insurance companies in 2022
- USAA: Best overall
- State Farm: Best overall
- Erie: Best for robust coverage
- NJM: Best for unique discounts
- Lemonade: Best for digital experience
- Amica: Best for customer experience
- Nationwide: Best for cheap rates for high-value homes
- Allstate: Best for insurance educational resources
Bankrate ’ s policy editorial team reviewed more than 50 homeowners insurance companies across the nation, paying detail care to those that rank highly by third parties in key market areas. We found that USAA and State Farm may be great choices for many homeowners, while Lemonade topped our number for providing tech-savvy and low-cost base insurance. however, the best home policy company for you will be a carrier that offers the coverage types, discounts, policy features and early attributes that most closely meet your needs. Our research may help you understand how to evaluate home indemnity companies to find the right supplier for you.
Bankrate’s picks for the best homeowners insurance in February 2022
Comparing the best home insurance companies
When looking for the best homeowners indemnity policy, several attributes of each company may be important to consider, including average annual premiums, available coverage options, ability to handle claims, customer satisfaction and fiscal stability. Bankrate utilized market partake percentages, customer satisfaction ratings from the latest 2021 J.D. Power U.S. Home Insurance Study and the 2021 U.S. Property Claims Satisfaction Study and fiscal military capability ratings from major accredit rating agencies to search for the best homeowners insurance companies. We besides analyzed 2022 modal quoted premiums from Quadrant Information Services to determine top carrier options. The rates below are based on a homeowner having $ 250,000 in dwelling coverage, the primary coverage component of any standard home policy policy that helps pay to repair or rebuild your home after a covered personnel casualty. The property policy companies we chose to feature offer a variety show of coverage options, a combination of competitive rates and dismiss options, plus unique features that allow you to personalize your policy to your needs.
| Home insurance company | Best for | Bankrate Score | Average annual premium for $250K dwelling coverage |
|---|---|---|---|
| USAA | Overall | 4.8 | $1,028 |
| State Farm | Overall | 4.7 | $1,568 |
| Erie | Robust coverage | 4.6 | $956 |
| NJM | Unique discounts | 4.6 | $384 |
| Lemonade* | Digital experience | 4.2 | **Unavailable |
| Amica | Customer service | 4.2 | $2,785 |
| Nationwide | High-value home coverage | 4.0 | $1,161 |
| Allstate | Insurance educational resources | 3.8 | $1,500 |
*Overall standing affected by specify data handiness in the states where coverage is offered.
USAA
Best home insurance company overall
4.8 Bankrate Score
J.D. Power: 882/1,000
AM Best: A++
AVERAGE ANNUAL PREMIUM
$922 for $ 250k populate
USAA Insurance Review
Why USAA may be best overall: Although USAA only offers coverage to
In addition to its average premium being lower than the national average, USAA offers a few homeowners insurance discounts, including savings for being claims-free for five years, purchasing multiple policies (bundling home and auto insurance) and having a protective device like a home security system. Unique add-ons, such as coverage for military uniforms for active duty or deployed policyholders, are also offered.
Availability: Coverage is available in all states for policyholders that meet USAA’s eligibility criteria.
Although USAA only offers coverage to active-duty military members, veterans and their immediate families, the company ’ south systematically high customer service scores, robust coverage options and low average premium across the country make it a bang-up option overall to consider for those who qualify.In accession to its average premium being lower than the national average, USAA offers a few homeowners insurance discounts, including savings for being claims-free for five years, purchasing multiple policies ( bundling home and car policy ) and having a protective device like a home security system system. Unique add-ons, such as coverage for military uniforms for active duty or deploy policyholders, are besides offered.Coverage is available in all states for policyholders that meet USAA ’ sulfur eligibility criteria .
Perks
- Low average premiums
- Military-focused coverage options
Drawbacks
- Only available to military members, veterans and qualifying family members
- Fewer discounts offered than some other home insurers
| Standard profile | |
|---|---|
| USAA | $1,028 |
| National average | $1,393 |
Best home insurance company overall
4.8 Bankrate score
J.D. Power: 882/1,000
AM Best: A++
Why USAA may be best overall: Although USAA only offers coverage to
In addition to its average premium being lower than the national average, USAA offers a few homeowners insurance discounts, including savings for being claims-free for five years, purchasing multiple policies (bundling home and auto insurance) and having a protective device like a home security system. Unique add-ons, such as coverage for military uniforms for active duty or deployed policyholders, are also offered.
Availability: Coverage is available in all states for policyholders that meet USAA’s eligibility criteria.
Although USAA only offers coverage to active-duty military members, veterans and their immediate families, the caller ’ randomness systematically high customer service scores, robust coverage options and gloomy average premium across the area make it a great option overall to consider for those who qualify.In addition to its average bounty being lower than the national average, USAA offers a few homeowners indemnity discounts, including savings for being claims-free for five years, purchasing multiple policies ( bundling home and car policy ) and having a protective device like a base security system. Unique add-ons, such as coverage for military uniforms for active duty or deploy policyholders, are besides offered.Coverage is available in all states for policyholders that meet USAA ’ south eligibility criteria .
Perks
- Low average premiums
- Military-focused coverage options
Drawbacks
- Only available to military members, veterans and qualifying family members
- Fewer discounts offered than some other home insurers
| Standard profile | |
|---|---|
| USAA | $1,028 |
| National average | $1,393 |
Read review *Not officially ranked due to eligibility restrictions
How to get started: You can get a USAA home policy quote by calling 800-531-8722 or visiting one of the few office locations. Online quotes are besides available for home indemnity .
State Farm
Best home insurance company overall
4.7 Bankrate Score
J.D. Power: 835/1,000
AM Best: A++
AVERAGE ANNUAL PREMIUM
$1,568 for $ 250k brood
state Farm Insurance Review
Why State Farm may be best overall: State Farm is a highly rated, financially strong insurer with more than 19,000 local agents throughout the U.S. For homeowners looking for a top-rated insurer, State Farm has a major presence in the industry. State Farm is the largest home insurance company in the country based on direct premiums written, with
Availability: Coverage is available in all states except Massachusetts and Rhode Island.
state farm is a highly rated, financially firm insurance company with more than 19,000 local anesthetic agents throughout the U.S. For homeowners looking for a top-rated insurance company, State Farm has a major presence in the industry. State Farm is the largest dwelling insurance company in the country based on direct premiums written, with over 17 % of the total market share. The carrier provides multiple insurance products in addition to its early fiscal serve offerings. The company ’ s representation footprint is abundant, which might be attractive if you like handling your policy needs locally and in person. State Farm is not presently writing new homeowners policies in Massachusetts or Rhode Island, although existing family policies are still serviced in those two New England states.Coverage is available in all states except Massachusetts and Rhode Island .
Perks
- “Superior” financial strength rating
- Higher-than-average J.D. Power overall satisfaction scores
Drawbacks
- Higher-than-average premiums
- Lower-than-average J.D. Power claims satisfaction scores
| Standard profile | |
|---|---|
| State Farm | $1,568 |
| National average | $1,393 |
Best home insurance company overall
4.7 Bankrate score
J.D. Power: 835/1,000
AM Best: A++
Why State Farm may be best overall: State Farm is a highly rated, financially strong insurer with more than 19,000 local agents throughout the U.S. For homeowners looking for a top-rated insurer, State Farm has a major presence in the industry. State Farm is the largest home insurance company in the country based on direct premiums written, with
Availability: Coverage is available in all states except Massachusetts and Rhode Island.
department of state grow is a highly rated, financially potent insurance company with more than 19,000 local agents throughout the U.S. For homeowners looking for a top-rated insurance company, State Farm has a major presence in the diligence. State Farm is the largest home insurance company in the country based on mastermind premiums written, with over 17 % of the total market partake. The carrier provides multiple indemnity products in summation to its early fiscal serve offerings. The company ’ s agency footprint is abundant, which might be attractive if you like handling your insurance needs locally and in person. State Farm is not presently writing newfangled homeowners policies in Massachusetts or Rhode Island, although existing home policies are still serviced in those two New England states.Coverage is available in all states except Massachusetts and Rhode Island .
Perks
- “Superior” financial strength rating
- Higher-than-average J.D. Power overall satisfaction scores
Drawbacks
- Higher-than-average premiums
- Lower-than-average J.D. Power claims satisfaction scores
| Standard profile | |
|---|---|
| State Farm | $1,568 |
| National average | $1,393 |
Read review How to get started: State Farm makes getting a homeowners insurance quote easy. You can get a quotation mark on-line, call 800-782-8332 or visit a State Farm agency in your area .
Erie
Best home insurance company for robust coverage
4.6 Bankrate Score
J.D. Power: 835/1,000
AM Best: A+
AVERAGE ANNUAL PREMIUM
$956 for $ 250k harp
Erie Insurance Review
Why Erie may be best for robust coverage: Erie offers numerous coverage options, from water accompaniment to guaranteed home surrogate coverage, to help you customize a policy that fits your specific coverage needs. Erie is a super-regional insurance company, so it is alone an choice for homeowners in choice locations. But if you live in an area that Erie services, you may find the insurance company appealing for its numerous optional coverage types, high overall customer satisfaction scores and impregnable fiscal stand.
Availability: Coverage is available in Illinois, Indiana, Kentucky, Maryland, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, Washington, D.C., West Virginia and Wisconsin .
Perks
- Low average premiums
- Higher-than-average J.D. Power overall satisfaction scores
Drawbacks
- Limited mobile app accessibility and usability compared to other insurance carriers
- Lower-than-average J.D. Power claims satisfaction scores
| Standard profile | |
|---|---|
| Erie | $956 |
| National average | $1,393 |
Best home insurance company for robust coverage
4.6 Bankrate score
J.D. Power: 835/1,000
AM Best: A+
Why Erie may be best for robust coverage: Erie offers numerous coverage options, from body of water stand-in to guaranteed home substitution coverage, to help you customize a policy that fits your specific coverage needs. Erie is a super-regional insurance company, so it is only an choice for homeowners in blue-ribbon locations. But if you live in an sphere that Erie services, you may find the insurance company appealing for its numerous optional coverage types, eminent overall customer satisfaction scores and strong fiscal standing.
Availability: Coverage is available in Illinois, Indiana, Kentucky, Maryland, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, Washington, D.C., West Virginia and Wisconsin .
Perks
- Low average premiums
- Higher-than-average J.D. Power overall satisfaction scores
Drawbacks
- Limited mobile app accessibility and usability compared to other insurance carriers
- Lower-than-average J.D. Power claims satisfaction scores
| Standard profile | |
|---|---|
| Erie | $956 |
| National average | $1,393 |
Read review How to get started: Erie provides quotes through local agents only. The company ’ s web site has a tool that could help you find an agent and tied select a prefer lyric .
NJM
Best home insurance company for unique discounts
4.6 Bankrate Score
J.D. Power: N/A
AM Best: A+
AVERAGE ANNUAL PREMIUM
$384 for $ 250k dwell
NJM Insurance Review
Why NJM may be best for unique discounts: New Jersey Manufacturers, or NJM, is a super-regional property and casualty insurance company that offers a host of savings opportunities for its home indemnity policyholders. Although its handiness is limited, NJM may be a capital choice for customers living in Connecticut, Maryland, New Jersey, Ohio or Pennsylvania who are looking for ways to save on their home indemnity. The company ’ south premiums are far below the national average, and batch of discounts are available — like savings for having a accompaniment generator, a family alarm system or storm shutters ( in some states ). however, keep in mind that the specific character of generator, alarm clock system or storm shutters may affect the savings you receive.
Availability: Coverage available in Connecticut, Maryland, New Jersey, Ohio and Pennsylvania .
Perks
- Low average rates
- Numerous discounts
Drawbacks
- No mobile app availability for NJM’s homeowners insurance policy
- Limited third-party data available for customer satisfaction
| Standard profile | |
|---|---|
| NJM | $384 |
| National average | $1,393 |
Best home insurance company for unique discounts
4.6 Bankrate grade
J.D. Power: N/A
AM Best: A+
Why NJM may be best for unique discounts: New Jersey Manufacturers, or NJM, is a super-regional property and fatal accident insurance company that offers a host of savings opportunities for its home insurance policyholders. Although its handiness is limited, NJM may be a great choice for customers living in Connecticut, Maryland, New Jersey, Ohio or Pennsylvania who are looking for ways to save on their home policy. The caller ’ south premiums are far below the national average, and enough of discounts are available — like savings for having a accompaniment generator, a dwelling alarm clock system or storm shutters ( in some states ). however, keep in mind that the specific type of generator, alarm system or storm shutters may affect the savings you receive.
Availability: Coverage available in Connecticut, Maryland, New Jersey, Ohio and Pennsylvania .
Perks
- Low average rates
- Numerous discounts
Drawbacks
- No mobile app availability for NJM’s homeowners insurance policy
- Limited third-party data available for customer satisfaction
| Standard profile | |
|---|---|
| NJM | $384 |
| National average | $1,393 |
Read review How to get started: You can get an NJM quotation mark by calling 800-232-6600 or using the on-line quote joyride .
Lemonade
Best home insurance company for digital experience
4.2 Bankrate Score
J.D. Power: N/A
Demotech: A
AVERAGE ANNUAL PREMIUM
$N/A
Lemonade Insurance Review
Why Lemonade may be best for digital experience: Lemonade’s artificial intelligence and digital-first approach to insurance is innovative and allows the carrier to offer useful online tools and, according to the insurer, lower-cost policies. Rather than maintaining brick-and-mortar agencies, Lemonade operates via an advanced mobile app, which earned a 4.3 out of 5.0 rating from Android users and a 4.4 out of 5.0 rating for its iOS interface. Claims are filed through the app and most are settled using Lemonade’s AI technology. The interface can process simple claims incredibly quickly; the fastest claim time recorded was just
Availability: Coverage available in Arizona, California, Colorado, Connecticut, Georgia, Illinois, Indiana, Iowa, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Texas, Virginia, Washington, D.C. and Wisconsin.
Lemonade ’ s artificial intelligence and digital-first set about to indemnity is advanced and allows the carrier to offer useful on-line tools and, according to the insurance company, lower-cost policies. Rather than maintaining brick-and-mortar agencies, Lemonade operates via an advanced fluid app, which earned a 4.3 out of 5.0 rat from Android users and a 4.4 out of 5.0 rat for its io interface. Claims are filed through the app and most are settled using Lemonade ’ randomness AI engineering. The interface can process simple claims incredibly cursorily ; the fastest claim time recorded was equitable three seconds Coverage available in Arizona, California, Colorado, Connecticut, Georgia, Illinois, Indiana, Iowa, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Texas, Virginia, Washington, D.C. and Wisconsin .
Perks
- Innovative use of technology
- Fast claims service
- Top renters insurance provider
Drawbacks
- Limited third-party rankings
- No physical agency locations
Lemonade ’ s home insurance is not so far rated by J.D. Power for customer serve, but the carrier wave earned the top ranking for renters policy in the 2021 J.D. Power analyze. Plus, it has a lower-than-average complaint index for dwelling insurance from the National Association of Insurance Commissioners ( NAIC ), meaning that the NAIC received fewer complaints than median from Lemonade ’ second homeowners indemnity policyholders .
Best home insurance company for digital experience
4.2 Bankrate seduce
J.D. Power: N/A
Demotech: A
Why Lemonade may be best for digital experience: Lemonade’s artificial intelligence and digital-first approach to insurance is innovative and allows the carrier to offer useful online tools and, according to the insurer, lower-cost policies. Rather than maintaining brick-and-mortar agencies, Lemonade operates via an advanced mobile app, which earned a 4.3 out of 5.0 rating from Android users and a 4.4 out of 5.0 rating for its iOS interface. Claims are filed through the app and most are settled using Lemonade’s AI technology. The interface can process simple claims incredibly quickly; the fastest claim time recorded was just
Availability: Coverage available in Arizona, California, Colorado, Connecticut, Georgia, Illinois, Indiana, Iowa, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Texas, Virginia, Washington, D.C. and Wisconsin.
Lemonade ’ s artificial intelligence and digital-first approach to indemnity is innovative and allows the carrier wave to offer useful on-line tools and, according to the insurance company, lower-cost policies. Rather than maintaining brick-and-mortar agencies, Lemonade operates via an advanced fluid app, which earned a 4.3 out of 5.0 rate from Android users and a 4.4 out of 5.0 rate for its io interface. Claims are filed through the app and most are settled using Lemonade ’ randomness AI engineering. The interface can process dim-witted claims incredibly quickly ; the fastest claim meter recorded was good three seconds Coverage available in Arizona, California, Colorado, Connecticut, Georgia, Illinois, Indiana, Iowa, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Texas, Virginia, Washington, D.C. and Wisconsin .
Perks
- Innovative use of technology
- Fast claims service
- Top renters insurance provider
Drawbacks
- Limited third-party rankings
- No physical agency locations
Lemonade ’ s home insurance is not however rated by J.D. Power for customer service, but the carrier earned the top rank for renters policy in the 2021 J.D. Power discipline. Plus, it has a lower-than-average complaint index for home insurance from the National Association of Insurance Commissioners ( NAIC ), meaning that the NAIC received fewer complaints than modal from Lemonade ’ south homeowners policy policyholders .Read review *Rate data is unavailable for Lemonade, and it has not even been reviewed or rated by J.D. Power or AM Best for home policy. however, the company has been rated by Demotech for fiscal stability and received a letter grad of “ A, ” which is considered exceeding. J.D. Power besides awards Lthreemonade the top position for renters policy in its 2021 Home Insurance Study.
How to get started: Lemonade is known for its technology. Home policy quotes can be obtained on-line or through the mobile app. If you need to talk to a example, you can call 844-733-8666 .
Amica
Best home insurance company for customer service
4.2 Bankrate Score
J.D. Power: 854/1,000
AM Best: A+
AVERAGE ANNUAL PREMIUM
$2,785 for $ 250k harp
Amica Insurance Review
Why Amica may be best for customer service: Amica ’ s systematically highly rated claims service may be ideal for policyholders seeking a positive customer service feel. Amica earned the highest official rate in the 2021 J.D. Power U.S. Home Insurance Study for national insurers. In addition, Amica earned the exceed spot in J.D. Power ’ s annual Property Claims Study for nine straight years between 2012 and 2020 before sliding to fourth set in the 2021 cogitation. High customer gratification is coupled with a “ Superior ” AM Best evaluation for fiscal strength.Amica offers two different types of base policy policies : traditional and dividend. Dividend policies may allow you to recoup up to 20 % of your home insurance premiums at the end of each year, and Amica states that these policies could save you money over meter.
Availability: Coverage is available in all states except Alaska and Hawaii
Perks
- Highly rated claims service
- Dividend policies may allow you to recoup some of your premium
Drawbacks
- Average premium is higher than the national average
- Certain types of structures, such as mobile homes, farms and ranches, are not typically eligible for coverage
| Standard profile | |
|---|---|
| Amica | $2,785 |
| National average | $1,393 |
Best home insurance company for customer service
4.2 Bankrate score
J.D. Power: 854/1,000
AM Best: A+
Why Amica may be best for customer service: Amica’s consistently highly rated claims service may be ideal for policyholders seeking a positive customer service experience. Amica earned the highest official ranking in the 2021 J.D. Power U.S. Home Insurance Study for national insurers. In addition, Amica earned the top spot in J.D. Power’s annual Property Claims Study for nine consecutive years between 2012 and 2020 before sliding to fourth place in the 2021 study. High customer satisfaction is coupled with a “Superior” AM Best rating for financial strength.Amica offers two different types of home insurance policies: traditional and dividend. Dividend policies may allow you to recoup up to 20% of your home insurance premiums at the end of each year, and Amica states that these policies could save you money over time.
Amica ’ s systematically highly rated claims service may be ideal for policyholders seeking a positivist customer service feel. Amica earned the highest official rank in the 2021 J.D. Power U.S. Home Insurance Study for national insurers. In addition, Amica earned the top descry in J.D. Power ’ s annual Property Claims Study for nine consecutive years between 2012 and 2020 before sliding to fourth place in the 2021 study. High customer gratification is coupled with a “ Superior ” AM Best rat for fiscal strength.Amica offers two different types of home insurance policies : traditional and dividend. Dividend policies may allow you to recoup up to 20 % of your home insurance premiums at the end of each year, and Amica states that these policies could save you money over prison term .
Availability: Coverage is available in all states except Alaska and Hawaii
Perks
- Highly rated claims service
- Dividend policies may allow you to recoup some of your premium
Drawbacks
- Average premium is higher than the national average
- Certain types of structures, such as mobile homes, farms and ranches, are not typically eligible for coverage
| Standard profile | |
|---|---|
| Amica | $2,785 |
| National average | $1,393 |
Read review How to get started: Amica has an on-line quoting tool that you can use, or you can call 800-242-6422 for a home policy quotation .
Nationwide
Best home insurance company for high-value home coverage
4.0 Bankrate Score
J.D. Power: 812/1,000
AM Best: A+
AVERAGE ANNUAL PREMIUM
$1,161 for $ 250k dwell
Nationwide Insurance Review
Why Nationwide may be best for cheap rates for high-value homes: Offered through its Nationwide Private Client subsidiary company, the ship’s company ’ sulfur rates are peculiarly competitive for high-value homes, based on Bankrate ’ mho cogitation of 2022 quote annual premiums. Compared to the national average premium for homes that carry $ 750,000 in dwelling coverage, which averages $ 2,568 per year, Nationwide ’ south rates average $ 1,969 per class — a dispute of about $ 600. Among national property insurers, Nationwide ’ second rates for high-value homes are highly competitive. In addition, Nationwide besides earns a higher-than-average claims gratification score from J.D. Power and offers a variety show of coverage options for lend fiscal auspices.
Availability: Coverage is available in all states except Alaska, New Mexico, Louisiana, Florida, New Jersey and Massachusetts .
Perks
- Competitive premiums for high-value homes
- Numerous optional coverage types help you personalize your policy
Drawbacks
- Poorer-than-average customer satisfaction scores from J.D. Power and the NAIC
- Above-average NAIC complaint index indicates that Nationwide receives more complaints compared to similar insurers in the market
| Standard profile | |
|---|---|
| Nationwide | $1,161 |
| National average | $1,393 |
Best home insurance company for high-value home coverage
4.0 Bankrate score
J.D. Power: 812/1,000
AM Best: A+
Why Nationwide may be best for cheap rates for high-value homes: Offered through its Nationwide Private Client auxiliary, the company ’ sulfur rates are particularly competitive for high-value homes, based on Bankrate ’ mho sketch of 2022 quote annual premiums. Compared to the national median premium for homes that carry $ 750,000 in dwelling coverage, which averages $ 2,568 per year, Nationwide ’ randomness rates average $ 1,969 per year — a deviation of about $ 600. Among national property insurers, Nationwide ’ mho rates for high-value homes are highly competitive. In accession, Nationwide besides earns a higher-than-average claims satisfaction score from J.D. Power and offers a variety of coverage options for add fiscal protective covering.
Availability: Coverage is available in all states except Alaska, New Mexico, Louisiana, Florida, New Jersey and Massachusetts .
Perks
- Competitive premiums for high-value homes
- Numerous optional coverage types help you personalize your policy
Drawbacks
- Poorer-than-average customer satisfaction scores from J.D. Power and the NAIC
- Above-average NAIC complaint index indicates that Nationwide receives more complaints compared to similar insurers in the market
| Standard profile | |
|---|---|
| Nationwide | $1,161 |
| National average | $1,393 |
Read review How to get started: You can get a homeowners indemnity quotation from Nationwide in a few ways, such as by using the on-line quote feature, calling 877-669-6877 or by working with a local anesthetic representation .
Allstate
Best home insurance company for luxury home coverage
3.8 Bankrate Score
J.D. Power: 801/1,000
AM Best: A++
AVERAGE ANNUAL PREMIUM
$1,500 for $ 250k dwell
Allstate Insurance Review
Why Allstate may be best for educational resources: Abundant informational resources can help policyholders better understand their home insurance policy and make informed choices about coverage. Allstate offers numerous educational resources on its website to help
Availability: Coverage is available in all states.
Abundant informational resources can help policyholders better understand their home policy policy and make inform choices about coverage. Allstate offers numerous educational resources on its web site to help first-time buyers navigate the homeowners insurance buy process. For exercise, Allstate ’ second Common and Costly Claims tool provides information about the most coarse and expensive insurance claims by ZIP code, which can help you assess the necessitate for specific coverage options on your policy.Coverage is available in all states .
Perks
- Educational insurance information available online
- Common and Costly Claims tool could help you prepare for and mitigate home damage
- “Superior” financial strength rating
Drawbacks
- Below-industry-average J.D. Power customer satisfaction score
- Default coverage amount for personal property is lower than some competitors
| Standard profile | |
|---|---|
| Allstate | $1,500 |
| National average | $1,393 |
Best home insurance company for luxury home coverage
3.8 Bankrate score
J.D. Power: 801/1,000
AM Best: A++
Why Allstate may be best for educational resources: Abundant informational resources can help policyholders better understand their home insurance policy and make informed choices about coverage. Allstate offers numerous educational resources on its website to help
Availability: Coverage is available in all states.
Abundant informational resources can help policyholders better understand their home policy policy and make inform choices about coverage. Allstate offers numerous educational resources on its web site to help first-time buyers navigate the homeowners policy buy process. For exercise, Allstate ’ second Common and Costly Claims tool provides information about the most coarse and expensive indemnity claims by ZIP code, which can help you assess the need for particular coverage options on your policy.Coverage is available in all states .
Perks
- Educational insurance information available online
- Common and Costly Claims tool could help you prepare for and mitigate home damage
- “Superior” financial strength rating
Drawbacks
- Below-industry-average J.D. Power customer satisfaction score
- Default coverage amount for personal property is lower than some competitors
| Standard profile | |
|---|---|
| Allstate | $1,500 |
| National average | $1,393 |
Read review How to get started: Allstate offers on-line family indemnity quotes. If you prefer working with an agent, you could call 866-702-6500 or visit a local representation .
Additional home insurance companies to consider
Chubb
Best home insurance company for luxury home coverage
4.4 Bankrate Score
J.D. Power: 801/1,000
AM Best: A++
AVERAGE ANNUAL PREMIUM
$1,630 for $ 250k harp
Chubb Insurance Review
Why Chubb may be best for luxury home coverage: Policies are tailored specifically to the needs of luxury homeowners and its personalized risk consulting services may reassure policyholders that their financial protection is suited to their exact circumstances. If you own a
Availability: Coverage is available in all states.
Policies are tailored specifically to the needs of luxury homeowners and its personalized gamble consulting services may reassure policyholders that their fiscal security is suited to their accurate circumstances. If you own a luxury home, Chubb ’ s specialized homeowners insurance policies may be a well fit. To ensure you have adequate fiscal protection for your dwelling and family, Chubb offers risk confer, which involves a aim risk adviser evaluating your home ’ s features to determine your home ’ s rebuilding monetary value. Chubb policyholders besides have access to the company ’ mho HomeScan tool, which may help them identify potential issues in their homes before they cause property wrong claims.Coverage is available in all states .
Perks
- Coverage can be tailored for luxury homescan be tailored for luxury homes
- HomeScan tool may help identify issues before they cause claims
Drawbacks
- Lower-than-average overall customer satisfaction from J.D. Power
- May be expensive for lower-value properties
| Standard profile | |
|---|---|
| Chubb | $1,796 |
| National average | $1,393 |
Best home insurance company for luxury home coverage
4.4 Bankrate sexual conquest
J.D. Power: 801/1,000
AM Best: A++
Why Chubb may be best for luxury home coverage: Policies are tailored specifically to the needs of luxury homeowners and its personalized risk consulting services may reassure policyholders that their financial protection is suited to their exact circumstances. If you own a
Availability: Coverage is available in all states.
Policies are tailored specifically to the needs of lavishness homeowners and its personalized risk consulting services may reassure policyholders that their fiscal protection is suited to their accurate circumstances. If you own a lavishness home, Chubb ’ s specify homeowners insurance policies may be a effective burst. To ensure you have adequate fiscal protection for your home and family, Chubb offers risk consult, which involves a trail hazard adviser evaluating your home ’ mho features to determine your home ’ s rebuilding cost. Chubb policyholders besides have access to the ship’s company ’ mho HomeScan tool, which may help them identify potential issues in their homes before they cause place damage claims.Coverage is available in all states .
Perks
- Coverage can be tailored for luxury homescan be tailored for luxury homes
- HomeScan tool may help identify issues before they cause claims
Drawbacks
- Lower-than-average overall customer satisfaction from J.D. Power
- May be expensive for lower-value properties
| Standard profile | |
|---|---|
| Chubb | $1,796 |
| National average | $1,393 |
Read review How to get started: Chubb sells its coverage entirely through local agents. You can use the ship’s company ’ mho Find an Agent creature to locate a Chubb office in your area .
Safeco
Best home insurance company for home warranties
3.67 Bankrate Score
J.D. Power: 810/1,000
AM Best: A
AVERAGE ANNUAL PREMIUM
$N/A
Safeco Insurance Review
Why Safeco may be best for home warranties: Home insurance isn’t designed to cover normal wear and tear, but Safeco offers homeowners the added perk of a home warranty, in partnership with American Home Shield, that can help with various types of unexpected expenses. A
Availability: Coverage is available in all states except Hawaii, Delaware and Washington, D.C.
home plate policy international relations and security network ’ thyroxine designed to cover normal wear and tear, but Safeco offers homeowners the add fringe benefit of a home guarantee, in partnership with American Home Shield, that can help with diverse types of unexpected expenses. A Liberty Mutual company, Safeco offers numerous home insurance endorsements that could allow customers to tailor their coverage to their unique needs, including equipment breakdown coverage, servicing line coverage and identity larceny coverage. You can even round out your coverage with a home guarantee that could help pay for damage that standard property indemnity typically doesn ’ metric ton cover, like normal deterioration.Coverage is available in all states except Hawaii, Delaware and Washington, D.C .
Perks
- Home warranty option can help cover expenses not covered by standard insurance
- Numerous endorsements allow you to customize your insurance policy
Drawbacks
- Below-average J.D. Power scores for overall and claims satisfaction
- Policies can be quoted online but must be purchased through a local independent agent
not available in Delaware, Hawaii or the District of Columbia .
Best home insurance company for home warranties
3.67 Bankrate score
J.D. Power: 810/1,000
AM Best: A
Why Safeco may be best for home warranties: Home insurance isn’t designed to cover normal wear and tear, but Safeco offers homeowners the added perk of a home warranty, in partnership with American Home Shield, that can help with various types of unexpected expenses. A
Availability: Coverage is available in all states except Hawaii, Delaware and Washington, D.C.
family indemnity international relations and security network ’ t designed to cover normal wear and tear, but Safeco offers homeowners the add fringe benefit of a home guarantee, in partnership with American Home Shield, that can help with assorted types of unexpected expenses. A Liberty Mutual company, Safeco offers numerous dwelling insurance endorsements that could allow customers to tailor their coverage to their unique needs, including equipment dislocation coverage, avail line coverage and identity larceny coverage. You can evening round out your coverage with a home guarantee that could help pay for damage that standard place indemnity typically doesn ’ thyroxine screen, like normal deterioration.Coverage is available in all states except Hawaii, Delaware and Washington, D.C .
Perks
- Home warranty option can help cover expenses not covered by standard insurance
- Numerous endorsements allow you to customize your insurance policy
Drawbacks
- Below-average J.D. Power scores for overall and claims satisfaction
- Policies can be quoted online but must be purchased through a local independent agent
not available in Delaware, Hawaii or the District of Columbia .
Read review How to get started: Safeco allows you to start quotes online, but policies must be purchased from an autonomous agentive role .
What is homeowners insurance?
Homeowners insurance protects your finances if your family is damaged or destroyed by a cover endanger. Your policy will likely besides include liability coverage, which provides you with essential fiscal protection if person is hurt on your property or their belongings are damaged and you are found at mistake. home insurance international relations and security network ’ thyroxine required by police, but if you have a mortgage or family loanword, your lender will probable require you to have a policy. even if your home is paid off, industry experts strongly recommend you consider purchasing home insurance coverage. A home policy policy is designed to help you avoid fiscal stress or devastation if your dwelling is extensively damaged .
What does homeowners insurance cover?
home indemnity covers damage to your home, detached structures and personal property from the losses indicated in your policy. Your liability vulnerability is probably besides covered. Standard policies typically contain these coverage types :
- Dwelling coverage: This is the main coverage in homeowners insurance and covers your home and any attached structures from certain types of damage, like fire, vandalism and wind.
- Other structures coverage: Also called “detached structures coverage,” this is usually 10-20% of your dwelling amount and covers things like fences, sheds and gazebos.
- Personal property coverage: This part of your policy covers your belongings, like your furniture, clothing and decor. Your personal property coverage is generally 50-75% of your dwelling amount, although you might be able to increase it if necessary.
- Liability coverage: If you damage someone’s belongings or if someone is hurt on your property and you are found at fault, your liability coverage may pay the damages and your legal fees.
- Additional living expenses: Additional living expenses (ALE), also known as loss of use, pays the costs of living while away from your home if it’s uninhabitable due to damage caused by a covered property claim.
Most standard home policy policies besides include medical payments to others coverage, which pays for guest injuries regardless of fault, up to the coverage limit. Keep in heed besides that all policies are different ; you can frequently add endorsements to bolster your policy with more coverage. And home indemnity comes in several unlike types, all of which cover different types of losses .
How to choose the best homeowners insurance policy
Dozens of home insurance companies might be available in your area, so how do you choose the right supplier for you ? here ’ s a few steps you can take :
- Understand your needs. Do you live in an area where wind damage is common? How much would your home cost to rebuild? Do you have specialty belongings that might need additional coverage? Understanding what you need from a home insurance company is often the first step to choosing the best carrier for your circumstances.
- Determine what matters to you. Would you feel more comfortable with a local agent who knows the area and can help you navigate the insurance buying process? Or do you like to handle your policies digitally? Is customer service important to you? Analyzing third-party reviews might help you decide if a company will be a good fit.
- Shop around. Once you know what you are looking for in a policy, you can get quotes from several different property insurers. Most companies offer a different combination of optional coverage types and discounts, so getting a minimum of three quotes helps you compare, according to the Insurance Information Institute (Triple-I). Also, insurance costs can vary significantly between companies, even for the same level of coverage.
- Reevaluate your coverage occasionally. Life changes, and your insurance should change with it. If you experience a life event — maybe you get married, have a child or suffer a home insurance loss — you should talk to your insurance company or agent to evaluate your needs. This helps to ensure you have the coverage and policy features that work best for you. The Triple-I recommends conducting an annual insurance review with your agent to ensure you have the right amounts and types of coverage.
Working with a license indemnity agent can be very helpful during the process of purchasing homeowners coverage. An agent can assess your needs and help oneself you choose the options that are best for you .
Why location matters when choosing the best home insurance for you
home insurers use multiple fink factors to determine your annual premium, and location — including state, city, ZIP code, claims history and proximity to a fire place and fire hydrants — can have a substantial impact on the price of coverage. nationally, the average cost of homeowners indemnity is $ 1,393 per year for $ 250,000 in dwelling coverage. however, different areas of the country come with distinct risk factors, which affect premiums. For exercise, a homeowner living along the coastline may need to consider how hurricanes might affect their property, while person in the Rocky Mountain area may need to consider the impacts of heavy snow and wildfires. Becoming familiar with your state ’ mho risks and common causes of loss could help you make a more educate decisiveness regarding your homeowners indemnity coverage. Links to Bankrate ’ s picks for the best homeowners insurers in your express are included in the table below.
Frequently asked questions
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- Bundling home and car insurance means you are buying both policies from the same company. Most companies that sell both car and home policy offer a discount for bundling and the savings can be significant on both policies. Bankrate identified Allstate, Nationwide, State Farm, Travelers and USAA as being among the best family insurance companies for bundling based on possible savings in combination with quote average annual premiums. however, the best carrier for you will depend on your individual needs and preferences. One way to find the right match for your needs is to make a list of the features you are looking for in both your dwelling and car policy policies. then you can get quotes from several carriers who might match your needs .
- Your homeowners policy policy covers wrong caused by many lifelike disasters and weather-related incidents, but not everything is covered — at least not by default. common homeowners insurance exclusions include damage caused by floods, earthquakes, landslides, mudslides and mudflows, according to the Triple-I. If you live in a high-fire-risk area, wildfire coverage may besides be excluded. You may need to purchase endorsements to secure this valuable coverage, or you might need to purchase a break policy raw, as is the encase with flood policy. If you aren ’ thymine sure what your policy covers and what is excluded, you can find these details in your policy software documentation or you can review your coverage with your agentive role or policy party .
- This depends on the company you are with. many carriers have a claims center that you can call to file a claim 24/7, and many offer on-line claim-filing tools. If your company has a mobile app, you might be able to file a claim via your smartphone arsenic well. If your insurance policy is handled by a local agency, you ’ ll probable besides be able to call the agency to file a call. When reporting a claim, you will need to have your policy number and some information about the passing. You ’ ll likely necessitate to describe what happened, when it happened and the oscilloscope of damage sustained. Capturing photograph of the damage and keeping all receipts for any out-of-pocket expenses incurred relate to the loss is besides a good idea, as your claim representative will likely need this information .
- Bankrate ’ s analysis of home policy rates determined that Erie and USAA offer the cheapest average rates across the U.S. however, Progressive, Nationwide, Auto-Owners and Travelers besides have cheap average rates, based on our study. In all cases, your rate will depend on your individual fink factors, so your home insurance premium might be higher or lower than the average rates of these companies. Getting home insurance quotes from several carriers is one of the best ways to find the cheapest premium to ensure you achieve the mighty tied of fiscal protection your position requires. additionally, you could take advantage of home insurance discounts to lower your premium. Most major companies offer at least a few discounts that might help you save money on your home policy .
- The amount of home insurance coverage needed will be unlike for every base. You can consider some factors of your home to get started, like straight footage, any detached structures and interior updates. To make this easier, home insurance companies have their own methods for calculating coverage amounts based on features of the home and costs of labor movement and materials in your area. They will use their denounce algorithm to help you determine your dwelling coverage sum, which can affect the other coverage limits listed on your policy. You can then finetune your coverage amounts, select your indebtedness restrict and deductible amount before finalizing your policy so that you get the coverage you need at the best price for your budget. It might be best to speak with a accredited agent to help determine how much coverage is right for you .
Methodology
Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean call history, dependable credit and the stick to coverage limits :
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners besides have a $ 1,000 deductible and a break tip and hail deductible ( if required ). These are sample rates and should be used for relative purposes merely. Your quotes will differ.
Read more: The 7 Best Car Insurance Companies (2022)
Bankrate Scores
Bankrate Scores chiefly reflect a slant rank of industry-standard ratings for fiscal forte and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is authoritative for homeowners to be confident their fiscal protection covers the likeliest risks, is priced competitively and provided by a financially potent place insurance company with a history of positive customer support and exceeding claims-paying ability. In our evaluation, third-party ratings from J.D. Power, AM Best, Standards & Poor ’ south, National Association of Insurance Commissioners and Moodys had a significant affect on the companies ’ Bankrate Scores. Our top picks for “ best for ” reflect a combination of Bankrate Scores and handiness of coverage to homeowners across the state, in addition to the specific qualities associated with each insurance company .