Best Homeowners Insurance Companies
Top homeowners insurance companies
Best homeowners insurance rates
Erie and North Star Mutual are the next cheapest home insurance companies. They charge $2,055 a year and $2,159 a year, respectively. State Farm is the cheapest large company at $2,427 a year.
Home insurance rates by company
| Company | Annual rate | LendingTree score | |
|---|---|---|---|
 | Amica | $1,830 |  |
 | Erie | $2,055 |  |
 | North Star Mutual | $2,159 |  |
 | State Farm | $2,427 | |
 | USAA* | $2,507 | |
 | Allstate | $2,560 | |
 | Chubb | $2,606 | |
 | Progressive | $2,648 | |
 | Country Financial | $2,827 | |
 | Nationwide | $3,055 |  |
 | American Family | $3,072 | |
 | Travelers | $3,149 | |
Average rates are based on a policy with $400,000 of dwelling coverage and $200,000 of personal property coverage. *USAA is only available to current and former service members and their families.
Best companies for home insurance
State Farm, North Star Mutual, Erie, Chubb and USAA each stand out for their own reasons.
Best home insurance companies at a glance
| Company | Annual rate | Satisfaction rating** | Complaint rating*** | LendingTree score |
|---|---|---|---|---|
| Best overall: Amica | $1,830 | 679 | 0.33 | |
| Best large company: State Farm | $2,427 | 643 | 1.05 | |
| Best regional company: North Star Mutual | $2,159 | Not rated | 0.83 | |
| Best coverages: Erie | $2,055 | 674 | 0.5 | |
| Best for luxury homes: Chubb | $2,606 | 688 | 0.11 | |
| Best for military: USAA | $2,507 | 737 | 0.33 | |
Sources: **J.D. Power 2024 U.S. Home Insurance Study; ***NAIC Complaint Index data from 2023.
Best overall home insurance company: Amica
Amica’s low complaint rating (0.33) means it receives far fewer complaints than an average home insurance company. Its overall satisfaction rating is higher than most other companies, too.
Amica is a particularly good choice in Connecticut, New Hampshire and Rhode Island. Its rates are well below the average for each of these states. However, it charges 35% more than the state average in Massachusetts.
Pros
Affordable rates in many states
Excellent customer service ratings
Flexible coverage options
Cons
Expensive in some states
Best large home insurance company: State Farm
As the nation’s largest home insurance company, State Farm also offers conveniences some smaller companies don’t have. These range from online quotes to in-person service at offices located serving most communities in the nation.
State Farm’s rates tend to be affordable for both home and auto insurance. These rates get lower if you bundle the two, and any other insurance you need. As far as ratings go, State Farm just has average scores from J.D. Power and the NAIC.
Pros
Cheapest large home insurance company
Generous discount for bundling policies
Convenient website
Cons
Customer service ratings are just average
Best regional home insurance company: North Star Mutual
North Star Mutual is a solid home insurance choice in the eight states it serves. The company tends to have cheaper rates than its competitors. It’s a particularly good deal in Minnesota, where it charges 45% less than the state average.
The company’s flexible coverage options include coverage for refrigerated foods, which can spoil during a power outage. North Star Mutual also offers liability coverage Liability does not cover damage to the covered item or your own injury. for RVs and watercraft. The company’s 0.83 complaint rating means it gets fewer complaints than an average company.
Pros
Cheaper rates than average
Good complaint rating
Add-on liability coverage for RVs and watercraft
Cons
Only available in eight states
Best home insurance coverage options: Erie
Erie is the nation’s 11th-largest home insurance company, though it holds its own against larger competitors. The company often has cheaper rates than its larger competitors. Its A+ Financial Strength Rating from AM Best beats a few larger companies, too.
The ErieSecure package includes guaranteed replacement coverage Guaranteed replacement pays to rebuild your home, even if costs exceed your policy’s dwelling limit. It’s not available from every company. Restrictions apply. for your home. Its Extended Water endorsement offers more protection than a typical water backup Most water backup endorsements only cover sewer and drainage failures, but not flooding from external water sources. add-on. It covers flooding in a basement or other rooms, as well as sewer and drainage backups. It also pays for improvements to reduce your home’s flood risks.
Pros
Cheaper rates than larger companies
Guaranteed replacement cost coverage for your home
Optional protections for water damage
Cons
Only available in 12 states and the District of Columbia
Best for luxury homes homes: Chubb
Chubb’s Masterpiece home insurance package includes features that cost extra from most other companies. These include extended replacement cost coverage Chubb’s extended replacement covers rebuild costs that exceed your policy’s dwelling limit. This includes costs of meeting codes enacted after it was originally built. for your home and replacement cost coverage Replacement cost pays to replace stolen or damaged items with comparable new ones, without depreciation. for your belongings. Chubb can also give you a cash settlement if you want to relocate after a major disaster.
Chubb’s ratings are tough to beat. It has the second-highest rating for overall customer satisfaction from J.D. Power, behind USAA. Its complaint rating shows it has about one-tenth as many complaints as average.
Pros
Guaranteed replacement for your home
Cash settlement option available
Belongings covered at replacement value
Cons
Only available for high-value homes
Best insurance for military homeowners: USAA
USAA serves the military community with reliable home insurance at affordable rates. It also meets the needs of active-duty service members with features like coverage for uniforms and military equipment. This has helped USAA get the highest overall satisfaction rating among all home insurance companies.
USAA makes it easy to manage your policy online and on its smartphone app. However, its agents are based in call centers, and you usually get a different agent each time you call. This isn’t ideal if you prefer working with the same agent on a regular basis.
Pros
Rates are 10% less than U.S. average
Special coverages for active duty military
Highest-rated company for overall home satisfaction
Cons
Only available to the military community
You usually get a different agent each time you contact the call center
Best-rated home insurance companies by state
Best-rated company by state
| State | State annual rate | Best-rated company | Company annual rate |
|---|---|---|---|
| Alabama | $3,217 | Country Financial | $2,627 |
| Alaska | $1,475 | Country Financial | $1,355 |
| Arizona | $2,623 | State Farm | $1,737 |
| Arkansas | $3,722 | State Farm | $4,336 |
| California | $1,260 | State Farm | $1,304 |
| Colorado | $4,489 | Country Financial | $5,268 |
| Connecticut | $2,618 | Amica | $2,020 |
| Delaware | $1,764 | State Farm | $1,497 |
| District of Columbia | $1,701 | State Farm | $1,152 |
| Florida | $3,889 | State Farm | $5,180 |
| Georgia | $2,869 | Country Financial | $2,798 |
| Hawaii | $632 | State Farm | $746 |
| Idaho | $2,178 | State Farm | $2,669 |
| Illinois | $2,743 | Country Financial | $2,378 |
| Indiana | $2,643 | State Farm | $2,338 |
| Iowa | $2,697 | State Farm | $2,679 |
| Kansas | $5,412 | State Farm | $4,626 |
| Kentucky | $4,671 | State Farm | $2,661 |
| Louisiana | $4,033 | State Farm | $1,274 |
| Maine | $1,863 | State Farm | $1,124 |
| Maryland | $1,810 | State Farm | $1,448 |
| Massachusetts | $1,906 | Amica | $2,578 |
| Michigan | $2,467 | State Farm | $2,259 |
| Minnesota | $3,642 | North Star Mutual | $2,001 |
| Mississippi | $4,201 | State Farm | $3,288 |
| Missouri | $3,387 | State Farm | $3,321 |
| Montana | $3,068 | State Farm | $3,630 |
| Nebraska | $5,912 | State Farm | $5,150 |
| Nevada | $1,626 | Country Financial | $1,925 |
| New Hampshire | $1,760 | Amica | $1,114 |
| New Jersey | $1,744 | State Farm | $1,211 |
| New Mexico | $3,354 | State Farm | $2,183 |
| New York | $1,897 | State Farm | $1,809 |
| North Carolina | $3,378 | State Farm | $1,475 |
| North Dakota | $2,911 | North Star Mutual | $1,947 |
| Ohio | $2,207 | State Farm | $1,871 |
| Oklahoma | $6,133 | State Farm | $5,078 |
| Oregon | $1,885 | Country Financial | $2,322 |
| Pennsylvania | $1,928 | State Farm | $1,515 |
| Rhode Island | $2,240 | Amica | $1,609 |
| South Carolina | $3,335 | State Farm | $2,712 |
| South Dakota | $3,605 | North Star Mutual | $2,530 |
| Tennessee | $2,857 | State Farm | $2,473 |
| Texas | $5,180 | State Farm | $5,674 |
| Utah | $1,507 | State Farm | $1,248 |
| Vermont | $1,339 | State Farm | $1,371 |
| Virginia | $2,499 | State Farm | $1,483 |
| Washington | $1,600 | Country Financial | $2,543 |
| West Virginia | $2,511 | State Farm | $1,862 |
| Wisconsin | $2,159 | State Farm | $1,813 |
| Wyoming | $2,323 | State Farm | $2,046 |
Average rates are based on a policy with $400,000 of dwelling coverage and $200,000 of personal property coverage. *USAA is only available to current and former service members and their families.
How to find the best home insurance company
- Consider your coverage limits
- Calculate the value of your belongings
- Compare quotes from several companies
Choose dwelling coverage and liability limits
You want enough dwelling coverage to pay for a complete rebuild of your home, if needed. What you pay for your policy changes based on the amount of dwelling coverage you choose.
| Coverage amount | Annual rate |
|---|---|
| $350,000 | $2,498 |
| $400,000 | $2,801 |
| $450,000 | $3,111 |
Your liability limit impacts your premium, too. Most home insurance companies default to a $100,000 policy limit. While this may sound like a lot, an extended legal case or hospital stay for someone you injure can quickly surpass this amount.
If legal or medical costs go over your limit, the rest comes out of your own pocket. Consider raising your liability limit to at least $300,000 if you can afford it.
Calculate personal property
The best way to calculate what all of your belongings are worth is to create a home inventory. It’ll also make sure you’re not overinsured or underinsured Being underinsured leaves you short of insurance funds to get back to normal after a disaster or theft. If you’re over insured, you’ll spend money on coverage you don’t need. . Include in your inventory descriptions of your belongings, serial numbers and how much it would cost to replace them.
Most home insurance companies have coverage limits for valuables like jewelry and art. Most also sell endorsements to give these items extra protection. Be sure you know what your policy does and does not cover before you sign on the line.
Compare quotes
To find the best company for your needs, compare home insurance quotes from multiple providers. Make sure to account for coverage differences that may impact the rates in each proposal. Extra protections like water backup coverage may make one quote a little more expensive than the others. However, in a scenario like this, a slightly more expensive quote may be the best deal.
Look at each insurer’s customer satisfaction ratings, too. While cost and coverage are important, so is how an insurance company handles claims. J.D. Power and the NAIC are excellent resources for this.
Pick your best company
Once you’re done with your research and compared quotes, pick the home insurance company that best suits your needs. Many providers offer online quotes and policy sign-ups. However, you can usually also contact them by phone, too.
Other frequently asked questions
Home insurance is not required by law. However, if you need a mortgage, your lender will make you get it to protect its financial interest in your home.
More or less. Hazard insurance is the same thing as dwelling coverage in a homeowners insurance policy. It is part of a home insurance policy.
“HO-3” is the technical name of the most common form of homeowners insurance. Many companies also offer HO-5s, which provide more coverage than an HO-3. HO-4s are for renters. HO-6 policies cover unit owners in a condo or coop.