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The Best Home Insurance Companies

The 8 Best Home Insurance Companies

Which Company Offers the Best Home Insurance?

Your home is probably one of the most important and valuable assets you have. Whether you've purchased a new home or have paid off the mortgage years ago - congrats on either! - your home is an asset you'll want to protect and not be without.

If you have a mortgage on your home, the lending company may require you to show proof of insurance to assure both them and yourself that you are protected, financially and otherwise, in case of a disaster causing damage or complete destruction. Even if you have paid for your home in full, a disaster that leaves your home damaged or uninhabitable could cost thousands to repair or hundreds of thousands to replace. Most people don't have that cash on hand; or if they do, that's not how they would choose to spend it.

Saturday, December 3rd

2022 Home Insurance Company Reviews

Top Consumer Reviews Best-In-Class Blue Ribbon Award Lemonade Review 5 Star Rating

Lemonade

5 Star Rating
  • Sign up or cancel online
  • Giveback program donates excess premiums to a charity, rather than the company just keeping the money
  • Send in videos or photos when submitting a claim
  • Receive claim money almost immediately
Top Consumer Reviews Best-In-Class Blue Ribbon Award

In today's society with so much of our busy lives spent on the internet, Lemonade's innovative focus is doing business entirely online, from getting a quote to filing a claim. If there's an excess of your premium at the end of the year, they'll bundle it with that of other clients and donate it to a charity (though we might also want a refund option). Use the app to upload a video of the damage, and save the time by not speaking to a person throughout.

Standard coverage

Your policy will cover rebuilding or repairing the structure of your home and other structures that are unattached to the home. They repair or replace personal property, provide hotel stays, restaurant meals, and other expenses if it's determined you can't live in your home for the time being. If guests are injured on the property, your policy will usually pay for up to $5,000 of their medical costs.

Add-ons

You can get extra coverage for additional valuable items and equipment breakdown, water backup, swimming pool liability, and more. These policies can be added on to your standard Lemonade policy as needed.

Discounts

If you pay on an annual basis rather than more frequent payments, Lemonade may offer you a discount as a thanks. They may also give you a discount due to home security systems, deadbolts, and smoke alarms. If you choose to bundle your pet insurance with your homeowners insurance, there may be a discount there as well.

Not available everywhere

Lemonade is available in several states, but not all of them. Check in for a quote and you'll see if your state is covered. If you happen to live in Europe, you can currently get coverage in France, Germany, and the Netherlands, and soon Lemonade policies will be available in 28 more European countries.

No bundling... yet

Well, you can bundle with your pet insurance, but you probably can't bundle with your car insurance. At the time of our review, we saw that Lemonade auto insurance was available in Illinois and Tennessee, so perhaps bundling is a possibility there now and may be available nationwide soon.

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Chatbot

When you're interested in a policy with Lemonade, you'll interact with a chatbot called Maya rather than a real agent. If you need to file a claim, you'll do that through the app and send photos or videos if requested. Due to the immediacy of sending and receiving information, it's actually possible that they will send you a payout within a few seconds if your claim is approved on the spot.

Live person

Lemonade realizes there might be situations, or even people, that call for a real person - pun intended. If automation or a chatbot isn't working for you, contact them during regular business hours where there's a live person on duty.

How charity donation works

Lemonade takes their fee off the top and then pays claims and other expenses. If there's any money left over, they will donate to charitable organizations that are suggested by policyholders. In 2021, they donated more than $2,300,000.

Customer experience

The people who use Lemonade seem pleased with the immediate response, and even though there may not be a real person to walk them through the claims process, most feel that the process was still seamless. They are surprised and grateful that the payment for a claim can happen within seconds. At the time of this evaluation, the BBB had designated Lemonade as "Not Rated" due to the company's working to resolve a few previously-closed complaints, but that's nothing to be concerned about.

Best new way to get home insurance

Lemonade is quite different. If your life is already pretty automated and much of what you do is via an app or other digital system, you might like Lemonade. There aren't a lot of options in personalizing a policy for you, they might not be available in your state, and they don't bundle house and car unless you are in Illinois or Tennessee. But think about it: if you look at the prospect of how automated our lives will be in the near future, Lemonade is ahead of the game. They've earned our highest rating.

Allstate Review 4.5 Star Rating

Allstate

4.5 Star Rating
  • 2nd largest homeowners insurance company in the US
  • Long list of choices for supplemental coverage to fit your specific needs
  • Available across the nation
  • Several discounts available

Allstate was founded as far back as 1931 by General Robert E. Wood. Their popular slogan, "You're in good hands with Allstate" has been around since 1950, and now Allstate is the second-largest homeowners insurance company in the US. They offer not only the standard coverage but also add-on coverage depending on the weather where you live, plus riders you may need for extra protection. You can call or visit the office for quotes, or you can conveniently get them online. Their prices are slightly higher than some competitors, so it is possible to get good insurance for a little cheaper when you go with someone else. All in all, we rate Allstate highly for their coverage, customer service, and availability to the customer.

What's included

With Allstate's homeowners insurance your dwelling and other structures are always included. That means that your home will be replaced at the value of its appraisal, and exterior construction like a shed or fence will also be replaced. Your personal property will be covered, with a limit of about 75% of the dwelling amount you have listed in your policy. Any personal liability such as court fees, attorney fees, and any damages as a result of a person being on your property are covered.

You choose

You can choose the amount of coverage, within reason, typically between $100,000 and $1 million, but this all depends on the value of your home. If your home is temporarily uninhabitable due to damage or destruction, the policy will cover temporary housing and meals. This limit is usually between 10% - 30% of the coverage limit on your dwelling. Lastly included are medical payments to guests who are injured on your property. This per-person limit is also usually between 10% and 30% of the dwelling limit.

Add-ons

With Allstate, you can customize your coverage with supplemental policies. You can choose a policy for yard and garden, flood, earthquake, water backup, specific personal property such as itemized pieces of jewelry, sports equipment, musical instruments, business property, identity theft protection, electronic data recovery, green improvement reimbursement for upgrading appliances to energy-efficient ones after a loss, business property coverage if your business is run from your home, HostAdvantage for those who rent out their dwelling as a home-sharing vacation property, and there's a personal umbrella option as well.

The Enhanced Package

There are three benefits to the Enhanced Package. As soon as you sign up, you can get the Deductible Rewards where they take $100 off your deductible, plus an additional $100 off every year you go claim free, up to $500 total; there's a 5% reward the year after you go claim free for a year; and rates won't go up if there's only one or fewer claims in a 5-year period. Always talk with your agent to see if this package is available to you in the state in which you reside.

Discounts

When you get a home insurance policy from Allstate, there are several ways to save some money:

  • Bundling. If you bundle other insurance policies, such as auto, with the homeowners policy, Allstate may offer a discount due to multiple policies.
  • Early-signing. Allstate appreciates the gift of you allowing them time to sign you up rather than being rushed. So, if you give them at least a week to sign you up before your current policy expires, they may reward you with a discount.
  • Newcomers. Allstate is grateful for new customers and offers welcome and loyalty rewards.

And there's more

There are discounts for non-smokers and age 55+ customers. There can be a reduced rate for homes with storm shutters in hurricane-type areas, weather-resistant roofs to protect against hail, and a monitored home alarm that directly alerts the authorities of possible thieves or fire. If you have an auto-pay set up with Allstate, there's yet another discount.

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Free digital tools

If you're a first-time home buyer, learning about the standard policy, add-on policies, limits, deductibles, ad infinitum, it can be overwhelming. Even if you're not a first-time home buyer, shopping for insurance can be a tedious learning experience. However - Allstate's free digital tools can make some of this a lot easier.

  • The Common and Costly Claims tool lets you search for the most common and costly claims in your zip code. It's good to know so that you can have enough coverage. For example, if hail damage to the roof or flooding is the most common claim, knowing that can be helpful so you have the right insurance and the right amount of coverage to cover that.
  • The GoodHome tool gives you the opportunity to add your own address to know the risk of your own home and the steps you can take to reduce such risks.
  • The Premium Gauge tool helps you to identify certain factors that could affect the cost of your homeowners insurance. This tool is a nice feature, but we recommend putting it on the checklist of things to ask your potential agent.

Cost

When we shopped around using a sample customer profile, we received a quote of $3,625 for a 2,200 square-foot home in Houston, Texas, finding the rate $101 per month higher than the national average, according to the Insurance Information Institute.

Consumer experience

Three years of data from the National Association of Insurance Commissioners report more complaints against Allstate relative to its size for homeowners insurance. Some of the complaints are about price, claim issues, and poor customer service. Many of the issues express concerns that specific home damages weren't covered under their policy, such as water damage under certain conditions, according to the consumer. Note that it is always important to ask detailed questions about what your policy covers, before a disaster occurs, no matter which insurance company you choose.

Overall solid choice

Any complaints aside, Allstate is still one of the top names in the insurance industry, and with good reason. You should have no problem getting a quote and setting up your coverage quickly, whether you go through the process online or reach out to an agent. True, you may spend a little less elsewhere, but with Allstate you'll know you've got a trusted brand protecting your home and property - and that's priceless. We strongly recommend giving Allstate the opportunity to provide a quote for your next home insurance policy.

Erie Review 4 Star Rating

Erie

4 Star Rating
  • Replacement coverage is standard
  • Discounts for bundling and home-protection equipment
  • Animal insurance is included in the standard policy
  • Add-ons such as service-line protection for damaged utilities

Erie, as the name suggests, began in Erie, Pennsylvania in 1925, and began providing homeowners coverage in 1961. They sell homeowners insurance in 12 states plus Washington, D.C. You purchase the policy directly with an agent, not through a website or app, but their website should be able to answer many questions you might have. There's even advice on regular home maintenance on their website, helping you to hopefully avoid claims in the future.

Above-and-beyond standard policy

Their standard policy includes most of what you might expect: coverage for your structure or dwelling, personal property, liability, theft protections, and living expenses if your home is declared uninhabitable. The perks they add are guaranteed cost replacement, pet coverage, and cash/precious metal coverage. This standard coverage seems to be more comprehensive than what other companies offer, so it should give you peace of mind.

Nice perks

A chart on their website shows that with Erie's guaranteed replacement cost. They don't subtract for wear and tear or depreciation, so the amount of money you would receive from Erie is more than a policy with actual cash value. The nice perks that Erie offers in their standard policy are theft or loss of your belongings, which other policies may not cover. They include coverage for hard-to-replace items such as deeds and passports. Some jewelry and firearms are included, cash and precious metals, gift cards, and animals are covered up to $500.

Add-ons

You can add policies such as earthquake and flood, home business, computer and equipment, firearms, jewelry and costly valuables, personal liability, water backup and sump pump overflow, identity recovery, service line protection if there's damage to underground utility lines, and rental income.

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Discounts

There are discounts for safe homes if you have fire alarms or burglar alarms. There's a multi-policy discount if you choose to bundle your home and auto insurance with Erie. There's also an advanced-quote discount, meaning that if you give Erie more than a week before your policy expires, they will thank you with a discount.

Cost

According to our research, a home valued at $250,000 would have a yearly premium of $897 per year or $75 per month. That puts Erie at $1,312 less than the national average.

Consumer experience

The main complaints customers seem to have regarding Erie is that it is only offered in 12 states and you'll have to purchase a policy with an agent rather than doing so online. Other complaints are from long-time customers whose policy has been canceled due to one late payment, not replacing a roof after a storm when neighbors' roofs were replaced with different companies' insurance, and that they deny claims.

Get more for your money - maybe

Erie is a reliable insurance company that offers good homeowners insurance at a fair price. Their standard policy seems to offer more than other standard policies and doesn't charge an arm and a leg for it. They have guaranteed replacement cost, pet coverage, and reimbursement for cash/gift cards. Unfortunately, Erie isn't offered nationwide, but if you are fortunate to live in one of the lucky 12 states they serve, you can purchase their policy. Just make sure you're getting your payments in on time.

Insurify Review 4 Star Rating

Insurify

4 Star Rating
  • One-stop shopping
  • Real quotes from multiple providers
  • Purchase online or over the phone
  • Get a quote in five minutes

If you're wondering which insurance company is right for you, with the best policy and price, that can take a lot of calling around to different insurance agencies to get quotes. Insurify makes it easy: input your information once and they get you multiple quotes from several different companies.

Apply online

Insurify encourages you to compare home insurance quotes online. It can save you money, time, and stress because you enter your information just once. If you were to compare on your own, you'd enter your information on a few sites, or you might have to look for an agent and call them, taking up much more than five minutes. With Insurify's one-stop-shopping, you can see your quote comparisons on one platform and have no risk of spam.

Which company will you get a quote from?

Insurify says that they will give you quotes from reputable insurance companies such as Country Financial, USAA, and Allstate. Reviewers have said they've gotten quotes from other companies such as Geico, Progressive, and State Farm through Insurify, even though those aren't listed on the site as their agents.

Standard policy

With the companies that Insurify has, the standard policy should include your dwelling and other structures on your property in case of theft or other damage, or destruction such as fire, even if your home is deemed uninhabitable. Your personal property is also covered, up to a certain amount, usually a percentage of the value of your dwelling. There's additional living expenses that are covered if you live in your home while you wait for the repairs related to the claim.

Add-ons

Earthquakes and floods are typically not covered and will require an add-on policy if you live in areas prone to these natural disasters.

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Discounts

There are discounts for bundling home and auto. If you are claim-free within a certain period of time, they'll reward you with a discount; if you pay your premium in full rather than making payments, there's another discount for that. And if you stick with them for a long period of time, you could receive yet another discount. If you are a member of an HOA, live in a gated community, live in a new home, are a non-smoker (if you are an older homeowner), or if you are married or widowed, there's more opportunity for discounts. Even more ways to save money include a monitored burglar system or monitored fire alarm system, or if you have made improvements to your home - you got it, there could be even more savings.

Cost

On Insurify's homepage, they let you know what a person's premium could be under certain circumstances. Because where you live and how you live can affect your premium, here are some of Insurify's examples of premiums, from low to high. Homes near a fire department cost $1,969, homes with a metal roof $1,989, homes with a fire alarm $1,996, homes near a coastline $2,047, homes with a swimming pool $2,057, and homeowners with poor credit $6,875 per year. Obviously you'll need to put in all of your particulars -what if you live near a coastline AND have a metal roof? - to find out what your home insurance policy will cost.

Customer experience

Consumers are happy with Insurify, as their quote tool is easy to use and doesn't take much time. They like that it's one-stop shopping and they can make a tedious chore simple, plus Insurify claims to save users an average of $585 per year just by doing price comparison. The downside? Because you give your personal information in order to get a quote, you may find yourself subscribed to email lists and getting unsolicited follow-up calls from local agents.

Fast rate-comparison features

Insurify can get you a quote in five minutes from various insurance companies. You might get a five-minute quote from one insurer on your own online, but you won't get a quote comparison unless you use a service like Insurify. We like that the process of choosing the best price is quick and easy. Just keep in mind that, because your information is likely shared, you might get quite a few phone calls and even more emails from a plethora of companies.

Remember to compare

If you choose Insurify and find a quote and policy you like, we highly suggest you still compare the policies of rival companies for features, limits and deductibles. You don't want to find out when you make a claim that your specific reason for damage isn't covered. In other words, Insurify can get you there, but it's still up to you to choose the best policy and insurer for your home.

Chubb Review 3.5 Star Rating

Chubb

3.5 Star Rating
  • Replacement cost coverage included in standard policy
  • Concierge service for hurricanes and wildfires
  • Cash settlement option
  • Data and document retrieval

Chubb began in 1882, and was acquired by ACE Limited in 2016. It operates in 54 countries and territories. It's the largest commercial insurer in the US, and in 2020 reported having written $41 million in gross premiums. They offer personal insurance policies, including homeowners, auto, accident, life, and renters insurance.

You're not just a number here

Right there on Chubb's home page, you'll see that they care about you as a person. They put it front and center that your home is more than just the structure and a potential claim. You have memories and experiences in the details of your home, so if you have to rebuild you'll want to do so without headaches or delays. It's nice to know that a company thinks of you as a person and of your dwelling as a home.

Risk consulting

Chubb will provide a complimentary home appraisal to carefully document what makes your house a home to provide the best insurance protection. They also have risk consultants to give fire and theft advice.

Replacement cost

Chubb will repair or replace items to bring your house back to its condition before the damage as much as possible, even down to the flooring and carpentry. They will replace upgraded appliances with the best match available currently. Even if the cost exceeds your policy limit, Chubb will pay to have your home restored to its original condition. And even if you need more work done due to upgraded building codes, Chubb will rebuild to those codes and pay for it. There's no depreciation deduction, and you can go up to the limit that's set on your policy. If you choose not to replace certain items, you can choose the cash reimbursement instead.

Temporary living arrangements

If you need a place to stay when your home is uninhabitable due to a covered loss, Chubb will help you find a place to stay - whether it's a suitable hotel or a similar home so you can remain in the school district, if that's important to you.

Cash settlement

This isn't an option that's commonplace; in fact, it's practically unheard of. If you have a total loss on your home, and you decide to rebuild in a different location, you can choose Chubb's cash settlement, up to your policy limit.

There's more

There are extras here that actually aren't extra - they're included. There's tree removal after a storm, restoration of electronic data produced by a computer virus, lock replacement if your keys are lost or stolen, and HomeScan, where you can find missing insulation, leaks, and faulty electrical connections before the damage occurs. They have a service to help with identity theft, and they can see you through every step of the process. If a disaster destroys important documents, Chubb can help you replace them quickly. Speaking of quickly, when you make a claim, in 98% of their claims, an adjuster has made contact with the homeowner within six hours of the initial report.

Property manager service

If you have a seasonal or second home in a hurricane-prone area, Chubb's property manager service can help you keep watch on your home if you are away. If strong winds are affecting your community, an inspector will examine your home as soon as it's safe to do so, and provide you with a full report. And with your permission, they may even arrange for emergency repairs or open a claim. Rather than waiting weeks for this process to happen step-by-step with another insurance company, Chubb is proactive and can get the process started immediately and without red tape. And if you're in a wildfire-possible area, they might be able to stop by, before the wildfire starts, and ask wildfire fighters to help save Chubb homes when there's a threat: a great idea that saves money for you and Chubb.

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Extras

There are very few add-ons to consider as most are included in the standard policy. The extended replacement cost coverage will rebuild your home to its original condition, even if the cost exceeds the limits in your policy. There's a jewelry add-on for pieces that exceed the coverage limits of their standard policy. You can also cover expensive pieces such as artwork, antiques, and other items with a high value. If you are in certain zones, you can also purchase earthquake coverage.

Price-wise, it's a balancing act

Chubb can cost more than its competitors, but it offers several features that are typically add-ons or upgrades with other insurance companies. With these inclusions, there are fewer decisions to make when personalizing your product, but know the price tag will be higher since you'll still get these high-end features.

Discounts

There are a few discounts you might be able to take advantage of. There's a multi-policy discount, a discount for monitored security systems, sprinkler system and fire-resistant construction discount, and new/renovated home discount.

Motto

They want you to know that, "We look for ways to say yes," and, "We look for ways to do more." These are prevalent in the way they have set up policies and claims. They want to say yes to you so your home, and you, are made whole again. They want to do more to suit your needs and uniqueness, and they want to be proactive to prevent loss from happening at all.

Work with an agent

You'll need to contact an independent agent. You can't just contact Chubb directly and inquire about a policy. Contact an agent if you're looking for an all-inclusive policy since Chubb makes insurance shopping easy.

Cost

A home valued at $300,000 might cost $2,055 per year, which is significantly higher than the national average as well as all other homeowners insurance companies we have reviewed.

Consumer experience

There are few complaints in comparison with the size and array of coverage. In addition, with the world functioning more virtually, you can't get a quote online. The only way to get a quote is directly with an agent. That said, there's an app where you can submit claims, pay premiums, view assessment reports of your home, and it has a few more features in addition.

They've thought of everything... except online service

Chubb is an insurance company with relatively few complaints besides the fact that you can't get the policy online. Chubb helps you to prevent major damage or destruction, they include quite a few add-ons in their standard policy, and are quite customer-oriented. You will receive star treatment, and you'll feel like your policy comes with a big, comforting hug. If you have the dough and want to pay for the "we want to do more" company, you won't be disappointed. If your budget is not that of the rich and famous, there are less expensive insurance companies that are also highly rated that could help you out.

Hippo Review 3.5 Star Rating

Hippo

3.5 Star Rating
  • Safe home discount, only with Xfinity brand
  • Free security equipment and also a discount for using it
  • Customer support available 24/7
  • Home office and electronics included in standard policy

Whereas many insurance companies haven't changed their standard policies as the times have changed, Hippo realizes that with home offices and the world going more electronic and data-driven, standard insurance policies have to drastically modernize as well. Hippo's home insurance policies include higher coverage limits for computers and home office equipment, especially for those who work from home or attend school virtually. You can also receive coverage for appliances and essential staff such as a babysitter or house cleaner.

Standard policy

Similar to most insurance companies, Hippo covers the dwelling, property, and liability. They also include extended replacement costs. Your coverage on the loss of a dwelling covers up to 50% more in excess of the dwelling limit to allow for unforeseen other expenses. Computer coverage is up to $10,000 - $2,000 is more the going rate with rival insurers - and home office is included as well. If your appliances need to be repaired or replaced due to electrical or mechanical failure, it is also covered.

Protection against water included

Hippo policies cover damage to water, sewer, or electrical lines that connect your property to the street - this feature, if offered, can be an add-on that's not included with other insurance companies. Up to $20,000 in protection against water or sewer backup is standard as well. However, read the fine print about water backup due to flood damage, as this would be an add-on policy.

Discounts, discounts

There are discounts for smart alarm systems and smoke detectors. Hippo has partnered with Xfinity, so if you own a home with Xfinity Smart Home Security systems, you can earn up to 25% off your policy. If you have a newly-built home or if you purchased your home within the past 12 months, you could receive a discount. There's a bundling discount if you choose your homeowners with Hippo and your auto with Metromile, their partnered auto insurance. Note that Metromile sells pay-per-mile auto insurance, which may or may not be a choice you'd like.

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Even more discounts

If you're an early bird and get your Hippo policy eight days or more before your current policy expires, they will thank you for the breather time with a discount. There's a homeowner's association discount, a no-mortgage discount, and discounts for multiple fire extinguishers, and a professionally-monitored fire and burglar alarm. If you have storm shutters, you could see a discount for that as well.

Extras

Hippo prides itself on being the only company that provides complimentary smart home devices to eligible customers and will even discount the homeowner's policy with this free device. They have advanced technology to determine the correct coverage for your home with the right amount of protection, and will do so year after year. They offer Hippo Home Care, a free service offered to help you maintain your home and its appliances, toilets, and more. You are also welcome to contact a Home Care Expert at any time of day or night to help work through your issue right away. Hippo wants to help prevent major incidents before they happen just as much as they want to help you if you have a claim.

Consumer experience

Hippo has good reviews, including having standard coverage that includes more than one might expect. There are flexible billing options and an easy-to-use website. You can apply for a policy in five minutes. Many customers are happy with the customer service. Others complain of having to wait 10 days for a representative to arrive at the home. There's bundling, but their auto partner has limited auto insurance choices. Another customer complained that they couldn't get the smart home discount because it wasn't with Hippo's partner security brand. Currently, Hippo is available in 37 states, and is still expanding throughout the country: not quite nationwide yet, but getting there.

Good, reasonably-priced insurance

Hippo is an up-and-coming company that realizes that "everyone else's" standard home coverage just doesn't cut it for today's needs. Their coverage changes with the times and includes your home office and appliances in their standard policy, and even has a limit as high as $10,000 for the replacement cost of a computer. You get your policy online in a jiffy and aren't required to spend time with an agent to do so. They even give you home security for free and give you a discount for using it - it's a win/win for you. Their slightly limited service area keeps them from being higher-ranked. Even so, we still say that Hippo is a good option to consider, especially if you're one of the many people working from home.

Nationwide Review 3.5 Star Rating

Nationwide

3.5 Star Rating
  • Get a quote online
  • Some standard features are add-ons for other companies
  • Plenty of discounts available
  • Offered in almost all of the U.S.

Nationwide's standard policies tend to cover what other insurance companies might have as add-ons. It's available in most states, they offer discounts, and they are one of the ten largest homeowner insurance companies in the U.S. They've been around since 1925 and are based in Columbus, Ohio.

Standard coverage

Nationwide does include the coverage that most other companies offer, such as your dwelling, other buildings on the property, your personal belongings, hotel stays and restaurant food if you are displaced due to an approved claim, personal liability if you injure others or their property, and medical payments to guests in your home. They also assure you they'll bring your home up to code, even if the code has changed since your home was built, up to 10% of the dwelling coverage. If there's unauthorized credit card or debit card transactions, they'll cover $500 in losses.

Add-ons

You can increase the $500 credit/debit card losses to a $10,000 maximum with an add-on policy; you can get extended replacement cost of your dwelling up to 20% above your policy limit if it costs more than expected to rebuild your home; you can replace your belongings with brand new items; you can replace your roof with a better one; you can cover your specific valuables; and you can also purchase water backup coverage.

Cost

Out of all of the home insurance providers we evaluated, Nationwide came in as one of the most expensive. For the sample residence we quoted, it was $2,207 per year for a home valued at $300,000. We didn't see anything so above-and-beyond in Nationwide's coverage that would justify a higher-than-average premium.

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Discounts

There are several discounts offered where hopefully you can take advantage. If you are claim-free for a certain period of time, if you bundle your home and auto policies, if you have purchased your home within the past year, if your roof is of a certain age and material, if you are renovating and upgrading the electrical or more, if you have protective devices such as fire alarms or security systems, if you're in a gated community, or if you are a new policy holder that's been continually covered by a previous insurer, you might be eligible for discounts.

Online access

You can manage your account online or with Nationwide's versatile app. This is convenient, since you can file a claim, pay your bill, set up auto-pay, request paperless billing, and learn about various insurance topics all from your phone.

The good and the bad

With Nationwide, you can easily get a quote for your policy and customize it with add-on coverage that fits your personal needs; there are several discounts which might help bring your premium down; and the Better Business Bureau gives them an A+ rating. Unfortunately although the name is Nationwide, their policies aren't offered in all states. Customer service may not always be easy to get a hold of, but you can try via phone or email, perhaps not with an immediate reply. Reviewers find that the pricing can be average to high, but that always depends on the insured, their location, and other factors. In all, Nationwide earns a mixed review from us. We suggest looking at their competitors first.

Liberty Mutual Review 2.5 Star Rating

Liberty Mutual

2.5 Star Rating
  • Available in all 50 states plus Washington, D.C.
  • Friendly and helpful website and app
  • Discounts to help you save money
  • Fourth-largest homeowners insurance company in the U.S.

That crazy, yellow-shirted emu that you see in all the commercials represents the fourth-largest home insurer in the US. You can get your Liberty Mutual policy online, via the app, or on the phone for more personal service. Their policies are available across the country, which isn't the case for all homeowners insurance companies. They might seem like a new company to you, but they've been around since 1912.

Standard coverage

Nationwide will repair or rebuild your home and other structures on the property, and they'll do the same for your personal property up to a certain amount. If your home is uninhabitable, they'll pay for a stay in a hotel, restaurant meals, and other expenses while your home is under construction for repairs that are covered. If you're responsible for injury to others or their property, that's covered too.

Add-ons

You can add other policies to cover your personal belongings. You can get policies for backups due to sewer, sump pump, or drain overflow; jewelry coverage if it's lost or stolen, without deductible or appraisal; identity theft insurance; inflation protection which gives you a discount with regular adjustments of coverage at renewal time; and replacement cost coverage, where you can get brand new replacements for what was stolen or destroyed.

Discounts

We all love a discount, and Liberty Mutual offers some nice discounts that you might be able to take advantage of. You can bundle home and auto with them. If your home is newly purchased, newly built, newly renovated, or has a new roof, there's a discount. If you help them out by getting the policy before your old one expires, sign up for paperless billing, or enroll in autopay for your premiums, they thank you with discounts. Their website lets you know you can get a 10% discount by applying online.

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Online or with a live person

You can take care of most of your needs via the website or app, such as sign documents, pay bills, sign up for auto pay, review your policy, and file a claim, but if you'd like to talk with a person, give them your zip code and they'll put you in contact with someone.

Customer experience

Customers seem to be content with the online experience of Liberty Mutual; however, when they talk with someone, it seems that they end up talking with more than one person about the same issue. Those people seem to be inconsistent in their answers, and someone also said that Liberty Mutual assured them they'd cancel the previous insurance policy for them but didn't, causing $1,000 in owed premiums. Customer service seems to be a huge, consistent complaint, and on the BBB site, Liberty Mutual doesn't seem to reply to many of the customers who have complaints. The Better Business Bureau gives them an A+ rating, and BBB's reviewers give them an average of 1.1 stars with 760 reviews.

You get what you pay for

Liberty Mutual caters to those on a budget, offering good, standard insurance and the expected add-ons. They offer a variety of discounts to keep the premium costs down as well. However, when it comes to customer service, there's a big red flag. You'd be wise to check out the options with other home insurance companies first.

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Continued from above...

It's fast and easy to get a policy online. For many, it's a great decision. However, when it comes time to make a claim, you might not have purchased the right policy for you. For example, you may not have considered flood or earthquake insurance. You might not have insured your very valuable items individually, and if they're stolen, they're probably not covered.

On the other hand, if you work with an agent to get your policy, they will probably ask you a myriad of questions to get the policy you need. Online can be great, just be sure you know what you want in a policy.

Here are a few things to consider when purchasing a homeowners policy.

  • Standard coverage. What does the standard policy include?
  • Add-ons you might need. You might need insurance for floods, earthquakes, or hurricanes. You might want to insure specific valuables under a separate policy so you know they are covered..
  • The limits of the coverage. Limits are the maximum amount they would pay out per situation. Make sure the limits are high enough to cover your costs.
  • Your deductible. This is the financial responsibility you will have per occurrence. If you don't want to pay much per occurrence, you'll lower your deductible, but pay more in your yearly premium.
  • Discounts. There can be a few discounts that could pertain to you, depending on your situation and depending on the insurance company. You might qualify for a discount if you have had no claims, have a new house, are a senior citizen, have an HOA, and the list goes on.
  • Reputation of the company. More reliable companies might cost you more, and the less reliable companies might be super inexpensive. Beware: you might get what you pay for.

To provide you with the best information so that you can get the right policy and best insurance company for you, TopConsumerReviews.com has evaluated and ranked the most popular sources of homeowners insurance available today. Getting the right policy is like cuddling with a warm blanket, since you'll have that assurance you'll be covered if any damage or destruction to your home. The process of choosing a homeowners insurance policy might have seemed daunting and you may have avoided it for as long as you can, but we can help make it easy.

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Home Insurance Company FAQ

If you have a mortgage on your home, your lender will more than likely require that you carry homeowners insurance. They will also require you to carry enough of it to rebuild your home if it were completely destroyed. When you have a mortgage, you don't completely own the home - the lender does, until you pay it off. That's why they require insurance. If it were to be damaged or destroyed, the bank needs to know that it will be taken care of.
There's regular homeowners insurance if you own your home, renters insurance if you're renting a free-standing home or an apartment, insurance for mobile homes, and more. When you start shopping for a home insurance policy, you'll be asked a series of questions that will determine what type of coverage is right for you.
Although the specifics can vary by company, there are a few things you can expect in a typical policy. First, your dwelling, or home, is covered, and so would a shed or other building on the lot. Your personal belongings would be covered, and medical costs of any guest injured on your property. Policies usually will pay for a hotel and meals from restaurants if you are displaced due to complete destruction of your home, if what happened is covered under the policy. You should also be protected in case of fire, storm, theft, or vandalism.
Yes and no. There are limits. When you purchase insurance, you and your agent will decide on the financial limits the policy will cover. A lower limit is cheaper, but it won't give you the replacement home you might think it will. A higher limit costs more, but will give you a better replacement home and personal belongings. Be aware that if your home is valued at $250,000, you can't get limits of $1,000,000 and get a million dollar home to replace yours. Your limits need to pretty much match what you currently have.
When you get a policy, you choose your deductible. This is the dollar amount you will be responsible for with each claim. If you want the insurance company to pay for it all, you will choose $0 deductible. Realize that having a low deductible will raise your rates. If you choose a higher deductible, such as $1,000, you'll have to pay that in the event of a disaster but your policy rates are lower. Choosing your deductible and your premium price is a balancing act.
Not all of your valuables may be covered under the standard policy, so you might choose what they call add-on policies for them. Let the insurer know if you have specific pieces to protect, and there will be a rider for each piece covering the amount it's worth. Although these add-ons might be expensive, it will be much more costly if something happened to them and they weren't listed in a separate policy.
You can usually get a discount for having zero claims on your history, living in a neighborhood with an HOA, being a senior, being a non-smoker, bundling with your auto insurance, signing on before your old policy expires, and more. If you have fire/smoke detectors and/or burglar alarms that are directly connected to emergency services (911), most policies will come with a significant discount there too. Be sure to ask your insurance company for ways to save money on your coverage.
Believe it or not, it's super-easy to get coverage online. Some insurers offer 24/7 live-person customer service, and others offer a live person only during typical business hours. But, if you don't want to talk to a person and you'd rather take care of all research and transactions from your phone or laptop, there are several companies that offer that. You can even get a quote in five minutes via the web or their app.
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