The Top Homeowners Insurance Providers in 2021

Each state has low-cost home insurance.

The location of your home and property has a significant effect on the cost of insurance for your home and belongings. How close you live to the coast, crime rates in your state, population density, and other factors can all have an impact on your rate. Use the map below to see the cheapest home insurance rates in each state, as well as the overall annual rate. The most competitive domestic insurers are described below with annual and monthly average rates in each country. In certain countries, USAA is the cheapest home insurance provider, but its products and services are only available to military, veteran and family members.

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1. Nationwide

Nationwide distinguishes itself by including ordinance or statute protection as part of the traditional homeowners insurance programme. This ensures that if you have a covered loss and need to upgrade your home to meet current building codes, the insurance company will pay for the costs. Nationwide also receives high marks for its customer service. Policyholders can file and monitor claims online or over the phone, and the company's website features a vast library of consumer-focused content.

2. Hippo

Hippo, which was established in 2015, places a premium on technology and user experience. Hippo offers policies through Spinnaker Insurance, a subsidiary it purchased in August 2020, and can offer an immediate quotation of sixty seconds to make comparisons simple. Some of the extras that come with Hippo policies, such as a smart home monitoring system and virtual connections to home maintenance advisors, demonstrate Hippo's high-tech orientation. Several of Hippo's discounts are focused on home security. Fire extinguishers and living in a gated community can help people save money on their insurance premiums.

3. Chubb

Chubb caters to the owners of luxury properties, with much of its expertise geared toward well-to-do customers. It provides a wide range of coverages, including unusual ones like HomeScan, which helps identify problems with your home that need to be addressed before they cause harm. As part of its regular approach, Chubb also provides extended replacement cost for dwelling and replacement value for contents, which is an unusual advantage for customers. According to three years of data from the National Association of Insurance Commissioners, Chubb has considerably less complaints to state regulators than would be anticipated for a corporation of its size.

4. Travelers

Travelers' optional Green Home Coverage assists in covering the additional costs of using environmentally friendly construction materials while repairing following a covered lawsuit. Continuing on that theme, Travelers offers a discount to customers whose homes have been certified as "green" by the Leadership Energy and Environmental Design, or LEED, organisation. The Travelers website allows for simple claim submission and monitoring, as well as instructional materials on basic homeowners insurance topics.

5. State Farm

State Farm supplements the traditional homeowners policy with a number of options. Its “increased dwelling limit” add-on is free and automatically increases the replacement cost coverage up to 20% as long as the home is insured up to the approximate replacement cost. For an extra fee, a homeowner's policy may include a range of other options. State Farm has also received favourable ratings from the NAIC, reporting less customer complaints than would be anticipated considering the company's size. Its website has an easy-to-use interface and quick access to file claims, get a quote, and learn more about your policy.

6. Auto-Owners

Despite the brand, Auto-Owners provides a wide range of homeowners insurance. The plan for Homeowners Plus offers some less popular choices, such as property damage coverage caused by leakage and food spoilage due to power outage. Auto-Owners also provides discounts that many other companies do not, especially for consumers who have invested in home improvements such as a water shut-off system or an automatic backup generator.

7. Amica

Amica topped the annual Study of Property Claims Satisfaction by J.D. Power in 2020 for the ninth year in a row. Amica has a Home Repair Assistance Program, which assists consumers in locating licenced and insured contractors in the event of a covered claim. Discounts are also available from the business for:

• Keeping a policy with the same insurer for at least two years.

• Insuring a newly constructed or remodelled house.

• Bills are received electronically and paid automatically each month.

8. NJM

NJM Insurance only covers Connecticut, New Jersey, Ohio, and Pennsylvania, but if you reside in those states, you'll find a seamless online experience that makes managing claims easy. In addition, veterans and nonsmokers enjoy premium discounts.

According to the NAIC, complaints about NJM's homeowners insurance are far fewer than would be expected for a company of its size.

9. Farmers

No matter what coverage level you select under the policies of Farmers' Smart Plan Home, you will receive:

• If you are claimless with farmers for five years or older, you avoid your premium growing after the claim.

• Decreased deductibles, which decrease your premium by $50 per year your policy is in effect.

• Reparation of cosmetic damage that pays to rehabilitate undamaged parts of your home, for example sides or shingles, if repairs made to covered claims are not appropriate.

Farmers also offers a number of unusual optional coverages, such as Eco-Rebuild, which pays up to $25,000 for additional costs to rebuild with renewable materials after a lawsuit. Customers in some states may benefit from a relationship with the alarm firm ADT by receiving a discount on their policies.

10. Erie Insurance

Erie Insurance provides policies to citizens in 12 states and the District of Columbia. Given the company's size, Erie's level of customer complaints is lower than predicted. Erie's regular homeowners policy provides many forms of coverage that set Erie apart, such as coverage for personal belongings theft or damage. Guaranteed replacement cost compensation, which is available in some states, covers the entire cost of repairing or replacing your home if it is lost or damaged, even if the cost exceeds the face value of your policy.

11. Country Financial

Country Financial provides compensation for household mishaps including countertop burns, paint spillage, and power surge damage to appliances. Country Financial provides assured repair cost compensation in most states, and covers the cost of regular new building materials and labour if you need to rebuild your house, with no restrictions. Customers will get safety-related discounts on features like:

• Electrical wiring that is more recent.

• A reliable source of heat.

According to the NAIC, Country Financial receives less complaints about its home insurance than anticipated given its size.

12. Hanover

The Hanover's home insurance plans have several optional extras, some of which are not often provided by other firms. Assume that a tree falls on your house and car during a storm. If you have a home and auto insurance policy with The Hanover, you will only have one deductible on all injury. Siding and/or roof renovation coverage is another unusual offering from The Hanover. In this situation, if you need to repair the roof or siding as part of a covered claim and the necessary materials are not available, the insurer can pay to rebuild undamaged areas as well.

13. Allstate

Allstate has a range of optional add-ons to the regular home insurance policy that other insurers do not. You can include the following things in your policy:

• Repairs to the yard and greenhouse, including trees and landscaping.

• Personal electronic data recovery, such as images or videos.

• Instruments of music

Furthermore, Allstate offers HostAdvantage protection to homeowners in participating states who rent out their homes through a home-sharing service such as Airbnb. This coverage helps compensate for personal property loss or theft when someone is living in your house.

14. Hartford

In collaboration with AARP, The Hartford provides homeowners insurance. While you do not have to be an AARP member to get a quote, you would need to be a member in most states to get a regulation. The Hartford's standard Home Advantage kit contains the following items:

• “New for old” insurance pays to replace your belongings with new objects regardless of the age or condition of the old possessions.

• Replacement of locks (after a $100 deductible) if a key is lost or stolen.

• Coverage that assists in the payment of damages resulting from a libel or defamation lawsuit, which standard liability coverage usually does not.

The Hartford's Home Advantage Plus bundle includes a vanishing property deductible that decreases your deductible by $50 per three years you don't file a claim, as well as compensation for the failure of appliances, electronics, and other home systems (with 125 percent reimbursement if you want a "green" replacement).

15. USAA

USAA is only available to active service personnel, veterans, and their families. For those who qualify, USAA offers a number of standard benefits that many other insurers do not:

• In certain states, identity theft compensation (with a $5,000 limit) is available to assist with expenses if you are the victim of identity fraud.

• Military uniform coverage for active duty or deployed personnel that offers complete compensation without a deductible if a uniform is damaged or stolen throughout a protected case.

• Replacement expense compensation, which pays the full cost of replacing goods rather than just the depreciated value.

According to the NAIC, USAA has received less complaints about home insurance from state regulators than would be anticipated for a business of its size.

Obtain home insurance quotes.

Once you've determined the coverage requirements, you may begin looking for homeowners insurance. You should compare home insurance quotes from at least three different firms to ensure you're getting the best deal possible.

According to a Insurezio.com report, homeowners insurance would cost an average of $140 per month in 2020. However, rates will vary greatly since no two houses are alike, and each insurer has its own method for calculating premiums and discounts.

You can compare home insurance rates online or over the phone, or you can work with an insurance agent or broker to find the best deal. Whatever path you take, make sure to compare plans with comparable benefits and deductibles. Also, keep in mind that a home insurance quote is just a rough estimate. If an insurance provider inspects your home and decides that you want a different level of coverage, your price can change.

Look into home insurance discounts.

Most providers have a common set of home insurance discounts, such as savings for having multiple plans with the same insurer (for example, both home and car insurance), installing safety and security systems in your home, and eliminating claims for multiple years in a row.

Aside from that, there would be variations in the amount and form of discounts available. Matching the discounts your home is eligible for will ensure that you not only get the policy you want, but also benefit from your home's investments.

Examine customer feedback and concerns.

You will be more assured that you would have a successful experience if you choose a home insurance provider that is known for making its customers happy.

You should look at J.D. Power's research on home insurance and property claims satisfaction, which poll thousands of homeowners per year, to see if former customers were happy. Consumer Reports frequently polls its members on their home insurance experiences, but comparing the results necessitates a paid membership.

Another source of knowledge on how insurance firms have done is the NAIC website. You will learn how many lawsuits were lodged against an insurer with state regulators, what the complaints were about, and whether there were more complaints than anticipated for a firm of its size.

Think of your financial strength.

You can purchase homeowners insurance from a reputable firm that has sufficient funds to cover claims. One way to determine whether an insurer meets the requirement is to look at its financial strength. A rating firm such as A.M. Best will help you determine a company's financial strength. Insurezio.com usually recommends looking at insurers with A- or higher scores. According to A.M. Best, any organisation with a B+ rating or higher has a "healthy" potential to fulfil its obligations. Companies with ratings lower than that may not be as secure a bet and often have higher complaint rates compared to their size.