Home insurance company reviews

• Allstate: Allstate’s average premiums are about the same as the national average. Customers may save even more with potential discounts for new home buyers, remaining claims-free, installing protective devices and more. Although Allstate came in just below the segment average in J.D. Power’s 2022 Home Insurance Study, it does have a lower-than-expected NAIC Complaint Index. Policyholders seeking more robust coverage options may be interested in Allstate’s endorsements for water backup, sports equipment coverage, business property and electronic data recovery.
• American Family: Also known as AmFam, American Family’s average annual premiums are considerably lower than the national average. The company also offers savings opportunities, including a generational discount for policyholders aged 18 to 30 whose parents are also American Family members, and a discount for renovated homes. You could even get a discount on an ADT system and other smart home devices if you’re an American Family policyholder. This company, however, isn’t available in all states, so your eligibility may vary.
• Chubb: Based on our proprietary rate data provided by Quadrant Information Services, Chubb has higher-than-average annual premiums for its homeowners insurance. Chubb is known for providing insurance for high-value homes and its standard insurance package includes many add-ons that may be optional with other companies, including extended replacement cost coverage. However, note that Chubb scored lower than average for overall customer satisfaction in the 2022 J.D. Power Home Insurance Study.
• Erie: According to our research, Erie has some of the cheapest average homeowners insurance rates in states where it’s available. It also offers guaranteed replacement cost coverage, which aims to give homeowners the total cost to rebuild their home, regardless of the dwelling limit listed on their policy. Another perk that sets Erie apart is its pet coverage — while most providers exclude birds and fish, Erie offers up to $500 in coverage for animals, birds and fish included. However, Erie is only available in 12 states, so a homeowners insurance policy through Erie may not be an option for you.
• Farmers: With three packages available (Standard, Enhanced and Premier), Farmers could be an excellent option for people purchasing their first homeowners policy. Additionally, homeowners can modify these packages further with endorsements such as Eco-Rebuild, which would cover the cost of rebuilding your home with more environmentally-friendly materials following a covered loss. It is important to know that Farmers isn’t available in every state and it’s among the most expensive companies on our list, on average. Still, this company may be worth considering for people looking for a streamlined process when purchasing a homeowners insurance policy.
• Nationwide: Nationwide is one of the cheapest homeowners insurance companies on our list, on average, and offers add-ons such as Better Roof Replacement, which will replace your roof with higher-quality materials in the event of a covered claim. Nationwide may not be ideal for you if you’re more concerned with customer service than price, however, since it scored lower-than-average in customer satisfaction, according to J.D. Power.
• Progressive: If you own a home, you could consider bundling home and auto insurance together at Progressive to take advantage of its multi-policy discount. Progressive homeowners insurance is only available in 40 states, and its coverage options and add-ons are somewhat limited, but this could still be a great option for people looking for the ease of placing your auto and home with the same company. It also has some of the lowest average homeowners rates of the companies we analyzed.
• State Farm: With its high customer satisfaction rating and superior financial strength, it may be no surprise that State Farm made our annual list of best homeowners insurance companies in the 2022 Bankrate Awards. State Farm is also the largest homeowners insurance company in the country by market share, although it doesn’t currently offer homeowners in Massachusetts or Rhode Island. Additionally, State Farm’s average premium for homeowners insurance is on par with the national average.
• Travelers: Travelers scored third-lowest in overall customer satisfaction in J.D. Power’s 2022 U.S. Home Insurance Study. Even so, if you own an environmentally-friendly home, Travelers could offer cheap home insurance through a green home discount. With this program, you could be eligible for a 5 percent discount if you’ve received a “green home” certification from the Leadership Energy and Environmental Design (LEED) organization.
• USAA: USAA is best known for its military-focused coverage, inexpensive premiums and high customer service ratings. Although it cannot be ranked due to eligibility restrictions, USAA earned a score of 884 in J.D. Power’s 2022 Home Insurance study — the highest score of all the companies included. USAA also quoted the second lowest average homeowners insurance premium for $250K in in dwelling coverage, according to our proprietary rate data. However, USAA has strict eligibility requirements and is only available to military members, veterans and their eligible family members.

When in doubt, working with a licensed insurance agent can be incredibly helpful. An agent can help guide you when choosing coverage and policy features.