Home insurance from the best companies offers high-quality protection against damages to your home and property caused by fire, lightning, wind, or any other peril. Liability coverage is also included in homeowners’ insurance. This can be very useful if you are sued by someone who was injured on your property.
Not all homeowners insurance policies are created equal. The best companies offer a wide range of coverage, provide discounts, and have affordable premiums. We compared over 20 top home insurance companies based on the factors above, as well as the third-party rankings of agencies such as A.M. Best or J.D. Power.
The Best Home Insurance Policies of 2023
- Lemonade : Best Online Insurance Company
- Liberty Mutual : Best for customized coverage
- Progressive is Best for Comparing Prices
- Hippo : Fastest Quotes
- Travelers – Best Green Savings Option
- Farmers : Best for Discounts
- USAA : Best for Military
- Allied is the Best Choice for Coverage Flexibility
- Erie Insurance : Best Customer Experience
- Amica mutual: Best in Claims Satisfaction
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Best Home Insurance Company Reviews
The following are the top homeowners insurance companies in 2023, based on coverage options, customer service scores, discounts available, and other factors. It’s important to note that not all these companies provide their home insurance products across the country.
Best Online Insurance Company for Lemonade
PRODUCTS
- Get quick online quotes with Lemonade
- The rates are affordable
- Customized coverage can be tailored to your specific needs
CONS
- J.D. A.M. Best or Power
- No true “agent experience”
Lemonade provides instant home insurance quotes with no hassle. Their rates start as low as $25 per month. This company offers online quotes and mobile apps. It has an average rating of 4.6 out of 5 stars on Google Play, and 4.9 stars in the App store.How to Protect yourself from the Next Stock Market Crash
Lemonade’s newer technology allows it to provide quick insurance quotes in just a few seconds. The company also guarantees a fast claim process and 24/7 customer service. Lemonade offers human customer service agents to answer questions, even though the majority of insurance claims are processed electronically.
Lemonade offers you the opportunity to customize your coverage. Lemonade’s homeowner insurance policies cover your home, other structures and personal belongings. They also include medical payments for others, loss use, personal liability, and coverage of personal property.
Liberty Mutual: The Best Choice for Customized Coverage
PROS
- You can customize your coverage to only pay for the services you require
- Financial strength is rated highly
- Discounts can be applied to a variety of products
- Online purchases qualify for a 10% discount
CONS
- J.D. Power has given a lower than average rating for customer satisfaction. J.D. Power’s customer satisfaction rating is lower than average.
- J.D. Power has a lower than average claim satisfaction rating. J.D. Power’s claims satisfaction rating is lower than average.
Liberty Mutual is an insurance company that has been around since 1912. Customers can also customize their policies to “pay only for what they need”, when it comes home insurance or other products.
Liberty Mutual’s home insurance covers automatic dwelling and personal liability. You can add personal property replacement cost coverage, water backup coverage, and sump-pump overflow coverage. Online policy purchases can be discounted by 10%. Insurance for new homes can be discounted to 10% for homebuyers.
Compare Prices: Progressive
PRODUCTS
- Financial strength is rated highly
- Progressive allows you to compare rates with other companies through their website
- Discounts and multiple coverage options are available
CONS
- No coverage in Florida and Iowa
- J.D. Power has given a lower than average rating for customer satisfaction. J.D. Power’s customer satisfaction rating is lower than average.
- J.D. Power has a lower than average claim satisfaction rating. J.D. Power’s claims satisfaction rating is lower than average.
Progressive has been in business since 1937. The company’s reputation and market share have grown steadily over the past few decades.
Progressive is a good choice because you can easily reach customer service representatives by phone or online. It goes without saying that the company receives some of the best grades from independent agencies in terms of its financial strength.
Progressive is also one of the few home insurance companies to allow you to compare quotes from multiple providers.
Hippo is the best for fast quotes
PROS
- You can get a quote for home insurance in just 60 seconds
- Now available in 37 States
- Financial strength is rated highly
- The “Hippo Smart Program” is available in certain states
CONS
- J.D. has not rated this product. Not rated by J.D.
is proud of its “top-notch” customer service and will help you with the claim process. Hippo began by offering affordable homeowner insurance only in 12 states. Now, the company offers coverage in 37 states.
Hippo offers a quick and easy way to obtain a quote online for homeowners insurance. They claim that you can save as much as 25% compared to other insurance companies. Hippo offers the “Hippo Smart Program” in certain states, which allows customers to qualify for discounts on insurance premiums if they install home monitoring systems and security cameras.
The Best Green Savings Alternative for Travelers
PRODUCTS
- Easy online quote process
- Multiple discounts available
- You can save an extra 5% if your home is certified as “green” by the Leadership Energy and Environmental Design organization (LEED).
- Financial strength is rated highly
CONS
- J.D. Power has a lower than average claim satisfaction rating. J.D. Power’s claims satisfaction rating is lower than average.
Travelers was founded in 1864 and has operated longer than many other home insurance providers. Travelers Insurance is based in New York City and writes policies across the country. This is important for homeowners looking for new coverage.
A company that has customers across the country can absorb more disasters, such as hurricanes, which cause a high volume of claims within a short time. Travelers is also a favorite of independent insurance rating agencies like A.M. Best, Moody’s and others. They consistently give it high marks for its stability.
Farmers Discounts
PRODUCTS
- Myriad homeowners insurance discounts available
- Financial strength is rated highly
- J.D. Power has rated J.D. Power as having an above-average claim satisfaction rating. J.D. Power has rated the satisfaction of claims as above average.
CONS
- J.D. Power has given a lower than average rating for customer satisfaction. J.D. Power’s customer satisfaction rating is lower than average.
- The ability to reduce the deductible is not available in every state
Farmers, a nationwide insurance company, also earned a spot on our list of the best home insurers. California-based. Farmers It has been tried and tested, but it still excels.
You can also customize your policy with additional coverages like identity theft protection and “green” replacement coverage. You can also earn $50 towards your deductible by using a feature called “declining your deductible”.
We are particularly interested in the discounts that you can receive if your home has newer safety features or if it was recently constructed. Farmers also has a strong rating for financial strength by A.M. Best. You can be sure that your eligible claims will get honored.
USAA: Best for Military
PRODUCTS
- J.D. Power has given the highest ratings for customer satisfaction and claims satisfaction. J.D. Power has the highest ratings for customer satisfaction, claims satisfaction and satisfaction with service.
- Financial strength is rated highly
- Bundled policies are eligible for discounts
CONS
- Offer only available to eligible veterans and military personnel
You won’t be able to access USAA’s rates for home insurance or customer service unless you are on active duty or a veteran or a family member of one. If you’re already a USAA customer, you have access to some of the most competitive homeowners insurance rates and service in the industry. We still rated this company highly, despite its small pool of policyholders.
Standard & Poor’s, A.M. Best and Standard & Poor’s also think USAA is the best. They have given USAA highest ratings in terms of financial stability. USAA also received the highest ranking in J.D. Power’s 2021. J.D. Power’s 2021 U.S. Home Insurance Study and in J.D. Power’s U.S. Property Claims Study for 2021.
Best Flexible Coverage: Allied
PRODUCTS
- Financial strength is rated highly
- Flexible coverage options available
- Bundling policies is rewarded with multiple discounts, as are having a smart house, living in a gated neighborhood, etc.
CONS
- Not available in all States
- Information on their policies is limited
Allied Insurance is part of Nationwide Insurance and offers flexible, solid coverage at affordable rates. Allied offers excellent customer service, especially if you prefer to get answers by phone. Allied offers a wide range of flexible coverage options that can be customized to meet your specific needs and budget.
Allied, backed by Nationwide’s nine decades of expertise, is a stable and reliable partner. Ask about discounts for multi-policy policies and claims-free discounts if you are already a Nationwide client.
Best Customer Experience: Erie Insurance
PRODUCTS
- J.D. Power has given J.D. Power for customer satisfaction
- 24/7 customer support available
- Guaranteed replacement cost coverage
CONS
- Only 12 States in the United States offer this product
- J.D. Power has a lower than average claim satisfaction rating. J.D. Power’s claims satisfaction rating is lower than average.
The Better Business Bureau (BBB) has given us an A+ rating and one of the lowest complaint ratios. Erie If you live in a serviced area, it could be a good partner for homeowners insurance. A.M. Best also gives Erie a financial stability score of A+, which is one of the highest.
Erie Home Insurance is known for its excellent customer service and coverage. Erie Insurance was ranked 4th among all major home insurers by J.D. Power’s 2021. U.S. Home Insurance Study.
Best for Claims Satisfaction: Amica Mutual
PRODUCTS
- J.D. Power has given J.D. Customer satisfaction and claim satisfaction are rated highly by J.D.
- There are multiple levels of coverage for your home, including “Platinum Option” or standard coverage.
- Easy online quote process
- Multiple home insurance discounts available
- Dividend policies allow you to get back 20% of the annual premium.
CONS
- Alaska and Hawaii do not offer home insurance
Amica Mutual might not be as well-known as some of our other favorites but it continues to move up the list due to its excellent customer service and quick claims process. Amica Mutual has received excellent ratings from J.D. In 2021, Amica Mutual received exceptional ratings from J.D. These two studies are based on past customer experiences to determine their rankings.
Amica also gets high marks for financial stability. Amica may not have done much national advertising or brand management, but the company’s name is still heard across the country.
Your new home’s protection should be your top priority.
Get a free quote for home insurance and be sure you are fully covered.
Home Insurance Guide
Learn more about homeowners insurance policies and how they operate before you purchase one. It is important to be informed about insurance claims, and what coverage home insurance typically provides.
