The 10 Best Home Insurance Companies
Where is the Best Place to Purchase Homeowners Insurance?
No one wants to imagine their home getting overrun with water damage, enduring a natural disaster, having a fire destroy their property, or having to deal with theft, but it happens. Everyone should have homeowner's insurance for peace of mind and to be taken care of in case of an emergency or unfortunate occurrence. In fact, it's so important that you can't take out a mortgage anymore unless you can prove you have homeowner's insurance in place.
It makes sense that banks don't want to hand over a loan with the risk that something will happen to the property and render the owner unable to continue paying their mortgage. Since your home is such an important asset, you don't want to risk being responsible for thousands of dollars in costs if unexpected damage or destruction were to occur. Being uninsured in a time of crisis could result in total financial ruin.
Thursday, December 5th
2024 Home Insurance Company Reviews
Lemonade
Lemonade is a generous homeowners insurance company that takes fixed rates from policies and donates leftover money to charities like Habitat for Humanity, Meals on Wheels, Feeding America, Pencils of Promise, Teach for America, Best Buddies, and many others. They offer competitive online quotes and have a user-friendly website that outlines everything about your policy and how to use it. Lemonade is available in all 50 states and is branching into Europe as well. They're extremely highly rated by their customers because of their great customer service and prompt claim payouts. We're really impressed with Lemonade and they've earned our highest rating.
Geico
Geico is one of the most widely recognized insurance companies out there. They operate in all 50 states and have numerous types of insurance policies to provide coverage on nearly everything that's important to you. You can get homeowners insurance quotes straight from their website if you take a few minutes to answer personal identifying questions, questions about your home, and then provide your SSN. You could also reach out to an agent by phone to get a quote this way as well. If you bundle with auto insurance or another type of insurance through Geico, you're eligible for discounts. They have a comprehensive website for you to file and track claims and get in touch with the company. Geico has an "A+” rating from the Better Business Bureau and better reviews from customers about homeowners insurance policies than auto insurance policies, so it's worth getting a quote here to see how they compare with other companies.
Liberty Mutual
Liberty Mutual has over 100 years of experience in the insurance industry. They provide both auto and homeowners insurance and incentivize you to use them for both so you can save some money. Liberty Mutual has an online quote system that should provide you with a quote within just a matter of minutes. If not, they'll redirect you to some of their partners to try instead. Liberty Mutual is a widely recognized company with an "A-” rating from the Better Business Bureau. They're one of the biggest global property and casualty insurers, so they are reliable. If you get a fair quote here and make sure you know all the details on your policy, this is a great place to turn for homeowners insurance.
Nationwide
Nationwide is one of the biggest, most well-known insurance companies on the market. They offer up to 20% in savings if you use their auto insurance as well. Nationwide has been rated one of the best companies to work for by Fortune 500 and since 1926 they've become one of the largest insurance companies in the world. We are impressed by the amount of add-ons they provide for customers, plus their list of discounts you might qualify for. Within a few minutes, you can answer a questionnaire and get a quote from Nationwide or one of their partners. They have an "A+” rating from the Better Business Bureau, but some mixed reviews from customers. Ultimately this is a good company if they provide a comfortable quote for you and have coverage that will completely take care of any needs you may have in the future.
Erie
Erie is an insurance company that prides itself in its customer service. The company has been around for nearly 100 years and has a lot of positive feedback from their policyholders. You'll need to see if they have agents in your area (we found there are lots of places they don't serve) and then reach out to them for a quote. Based on what we have read from customers, Erie does seem to be able to offer really competitive rates, so it's worth checking into them if they cover your area. The Better Business Bureau gives Erie an "A+” rating and they seem to be a solid option for home insurance.
Chubb
Chubb might not be the insurance provider that your neighbors talk about or recommend since they typically work with wealthy individuals and cover expensive properties and assets like yachts, art, jewelry, second and third properties, and large homes. To get a quote for home insurance, you'll need to contact a representative from near your zip code and won't see any policy details online. Although Chubb is reputable and reliable, it's likely quite expensive and not what most people need for basic homeowners insurance. They don't have a perfect Better Business Bureau rating, but they're a respected company and most people agree they do what they say they will do. This company isn't the right fit for all homeowners insurance, but they're not a bad option if you fit one of the categories of properties they insure and can afford the premiums.
Insurify
Insurify is essentially a lead generation website that is meant to help people input their personal information and details on their property and quickly compare quotes between different insurance companies. They say that you'll be able to purchase home insurance through them directly, but we found that we were constantly navigated to other company's websites and often didn't even end up with an online quote we could use for comparison. The idea behind Insurify is a good one, but it isn't always as helpful of a resource as they claim to be. It might be worth giving Insurify a try to see if they connect you with quick online quotes in your area, but it's not the best solution we've found.
Hippo
Hippo is an up and coming company that tries to help customers get ahead of their home issues by installing things like smart home motion sensors and cameras, water sensors, and smoke alarms. They offer coverage in 37 states and offer competitive policy prices. You can get a quote from their site in as little as 60 seconds, but you'll need to work with an agent to get all the details on the policy and complete the purchase in full. Hippo has had a lot of complaints from people who say they've had their new policy canceled unexpectedly and it seems Hippo doesn't do a good job with dotting all their i's and crossing their t's with the underwriting department. Many people feel they are shady and not very stable yet, so we would hold off on getting your homeowners insurance here.
Allstate
Allstate is one of the most widely recognized home insurance companies. This is largely due to their big reach across the country and their catchy commercials. Straight from their website you can get a home insurance quote within minutes by answering some specific questions about your property. You can compare between a few price options and choose the one that fits your needs the best. Allstate has a sleek website where you can manage all your insurance information easily, which we like. They have an "A+” rating from the Better Business Bureau, but we really put on the brakes when we read how terrible their customer reviews are. People say their customer service is awful to deal with, they don't follow through on helping people take care of their repairs or emergency situations, and they are overall dishonest and disloyal to their customers. There is a lot of frustration from those who have home insurance policies with Allstate, so we've given them a low rating.
Progressive
Progressive has a great website that outlines a lot of the basics you'd need to know before signing up for homeowners insurance. We were able to get a really cheap quote from them in just a matter of minutes without having to provide things like our social security number. Unfortunately, the initial quote we received didn't seem to have near enough coverage for what we'd need. This is a common complaint among customers of Progressive. You'd be wise to work with one of their local agents and go back and forth until you find a good price and coverage point to meet your needs. Progressive has an "A” rating from the Better Business Bureau, but their customer reviews are mostly quite terrible from both people who have and haven't had to file claims. It seems their customer service can be flaky to work with and their quotes often go way up by the time you're ready to sign. We didn't find anything reassuring about Progressive, so they've earned a low rating.
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Most people don't have enough cash in the bank to cover a major portion of or even the entire cost of their home. It's probably the last thing you want to spend your money on when you're already paying a monthly mortgage. Having good home insurance is the best way to stay financially protected and ensure that you always have what it takes to repair and maintain your house if something goes wrong.
If you're a new homeowner, it may seem a little overwhelming to find an insurance policy. Luckily there are lots of companies available these days for you to choose from. Companies have gotten better at using layman's terms and really spelling out all their policies for you, so that you know what you'll be paying monthly, what the policy covers, and how to make a claim if you need to. Usually a company will offer a few different price ranges you can choose from, depending on how much coverage you think you need, and you can easily compare them to decide what works best with your budget and covers the risks that most threaten your property and surrounding area.
We've done some of the heavy lifting for you here by going over the process different companies require for you to get quotes and reviewing what people have to say about their customer service and follow-through with claims. When it comes to a situation regarding insurance, you don't want to mess around. We can't overstate the importance of being able to rely on a company that's affordable and will hold your hand while you navigate stressful situations.
Since there are quite a few insurance companies to choose from that have different types of policies, keep the following things in mind when choosing who to go with:
- Standard coverage. What are the basic things included with standard coverage through the insurance company?
- Optional add-ons. Every home, neighborhood, city, and state is different. That means that while one homeowner may need earthquake insurance, another may need flood insurance. Does the company have options to cover the specific risks in your area? Some also have add-ons for personal belongings like jewelry, so if this is something you might need, pay attention to what's available.
- Coverage limits. In any given situation, what is the maximum amount the company would pay out? Do you feel confident that it's enough to cover all the costs you may be facing?
- Deductible. Even though you pay a monthly fee to have home insurance, you'll still be responsible for an upfront portion of the cost of any damage you're dealing with. If you want a lower deductible, you may decide to choose a plan with a higher yearly premium instead.
- Customer satisfaction. When you find yourself in a crisis, you want to make sure you are working with a company that will help you every step of the way. Pay attention to what other customers say about their experience with the insurance company. Do they follow through with claims quickly and efficiently? Are their employees patient, kind, and easy to work with? What rating does the Better Business Bureau give the company?
Top Consumer Reviews has researched the most important things you'd need to know about choosing a home insurance plan. We hope this information helps you find peace of mind knowing that one of your most valuable assets is protected. We've tried to make things as easy as possible for you to feel confident in your decision about which home insurance company to go with.
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