Best Homeowners Insurance Companies of September 2022

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A home is the biggest asset most Americans have, so you’ll want to protect your dwelling by purchasing homeowners insurance.

Homeowners insurance is not required by law, but your lender will often require home insurance to protect the home if you have a mortgage. And if you live in a disaster-prone area, you may need additional coverage.

Insider looked at the top companies in size according to S&P Global data and customer satisfaction from J.D. Power and Associates. We also considered nationwide availability and the most recent credit rating from A.M. Best or Fitch Ratings.

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Best for homeowners insurance overall: Amica

Amica is a strong competitor in homeowners insurance customer satisfaction, earning the top spot in J.D. Power’s 2022 study of all widely available insurers. It’s available in 48 states.

According to Insurify, customers with Amica can expect to pay about $800 to $3,600 per year on their premiums. Your rate can be on par or slightly higher than the national average which is $1,272, according to the most recent data from the Insurance Information Institute. But, each home’s costs for insurance vary widely based on a variety of factors, including your home’s value

Visit Amica’s homeowners insurance website to learn more.

Best for military members: USAA

USAA homeowners insurance is only available to active military, veterans, and their families. It’s available in all states and consistently ranks at the top of claims and customer satisfaction surveys. USAA home insurance features and discounts

According to Insurify, customers with USAA can expect to pay about $1,001 per year on their premiums. This is below the national average which is $1,272, according to the most recent data from the Insurance Information Institute. But, each home’s costs for insurance vary widely based on a variety of factors, including your home’s value.

Visit USAA’s homeowners insurance website to learn more.

Best for customer satisfaction: State Farm 

State Farm is an established insurance industry and ranks in the top ten in claims and customer satisfaction. Home insurance policies are available in all 50 states. They’re also available to purchase on your own online without an agent.

According to Insurify, customers with State Farm can expect to pay about $2,500 to $4,000 per year on their premiums. This is more expensive than the national average for homeowners insurance which is $1,272, according to the most recent data from the Insurance Information Institute. But, each home’s costs for insurance vary widely based on a variety of factors, including your home’s value

Visit State Farm’s homeowners insurance website to learn more.

Best for discounts: Auto-owners

Auto-Owners insures about 1.5% of America’s homes. A high financial strength rating, along with high marks for claims and customer service, helps this insurance company stand out.

According to Insurify, customers with Allstate can expect to pay about $1,295 per year on their premiums. This is slightly above the national average for homeowners insurance which is $1,272, according to the most recent data from the Insurance Information Institute. But, each home’s costs for insurance vary widely based on a variety of factors, including your home’s value

Visit Allstate’s homeowners insurance website to learn more.

Homeowners insurance companies ranked by affordability

The national average premiums for homeowners insurance is $1,272, according to the most recent data from the Insurance Information Institute. But, each home’s costs for insurance vary widely based on various factors, including your home’s value. Below are a few of the most affordable homeowners insurance companies across the nation: 

Source: Insurify

Homeowners insurance companies ranked by customer satisfaction

The latest study from J.D. Power — a consumer research company that conducts consumer surveys — shows that a homeowners insurance company’s customer service and reputation are more important than price for homeowners.

Here’s how homeowners insurance companies ranked when consumers were asked about satisfaction overall:

*USAA is only for active military, veterans, and their families.

Methodology: How did we choose the best homeowners insurance?

Insider looked at five factors to determine the best homeowners insurance: customer satisfaction ranking, claims satisfaction ranking, credit financial rating, and market share.

Customer satisfaction: We use J.D. Power’s homeowners insurance customer satisfaction survey  to evaluate the quality of service a company provides to its customers. Home insurers that ranked No.1 through #11 in the survey are considered above the industry average in customer satisfaction. 

Financial stability ratings: We use AM’s Best to determine a provider’s financial strength. AM’s Best is a credit rating agency that assesses an insurance company’s ability to pay claims to its policyholders. A company that receives an A++ to B+ is stable in financial strength, while anything lower than a B means that a company is unstable or unable to meet its financial obligations.

Market share: The higher a company’s market share, the more popular it is among policyholders nationwide. We gathered data on market shares from the S&P Global Market Intelligence. 

Average premiums: While lower home and renters insurance premiums do not mean quality insurance, we do our best to balance a policy’s cost with the value an insurer provides. A good premium is on par with or below the average cost of homeowners insurance which is $1,272, according to the most recent data from the Insurance Information Institute.

Best homeowners insurance companies — frequently asked questions (FAQ)

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