Home insurance can grant financial protection for you and your loved one against unexpected events or calamities that can damage your home. Having a policy according to your needs can provide you with peace of mind that a costly claim will not induce you any financial distress. If you want to obtain a home insurance policy, a number of attributes of every company would be taken into account. These include average annual premiums, available coverage options, ability to handle claims, customer satisfaction, and financial stability. So based on all this, we are going to mention the top 5 home insurance companies in the US.
5 Best Home Insurance Companies in the US
USAA home insurance has managed to grasp a top position on our list. Though USAA only provides coverage to military members, veterans, and their immediate spouses, the company’s persistent high customer service scores, strong coverage options and low average premium across the state make it a perfect option overall to consider for those who qualify. Furthermore, USAA provides a few homeowners insurance discounts, which include savings for being claims-free for around 5 years, purchasing multiple policies, and having a protective device such as a home security system.
Erie insurance company has managed to grasp the second position as it offers various coverage options, from water backup to secure home replacement coverage. Furthermore, it helps you to customize a policy that fits your particular coverage needs. Erie is considered a super-regional insurer, so it is a sole option for homeowners in preferred locations. But if you live in a region that Erie services, you may find the insurer requesting for its numerous optional coverage types, high overall customer satisfaction scores, and solid financial standing.
State Farm home insurance company is a highly rated, financially strong insurer with over 19,000 local agents all over the US. For house owners seeking a top-rated insurer, State Farm has a significant presence in the industry. Moreover, State Farm is the biggest home insurance company in the country based on direct premiums written, with over 17% of the total market share. The carrier offers multiple insurance products along with other financial service offerings.
Lemonade house insurance company has managed to attain the fourth position on our list. The company’s artificial intelligence and digital-first approach to home insurance is innovative and enables the carrier to provide useful online tools and, as per the insurer, lower-cost policies. Rather than maintaining brick-and-mortar agencies, Lemonade operates through an advanced mobile app, which received a 4.4 out of 5.0 rating from Android users and a 4.9 out of 5.0 rating for apple users.
Amica’s persistently highly-rated claims service may be perfect for policyholders soliciting a positive customer service experience. Amica received the highest official ranking in the 2021 J.D. Power U.S. Home Insurance Study for national insurers. Furthermore, Amica earned the first spot in J.D. Power’s annual Property Claims Study for 9 consecutive years between 2012 and 2020 before sliding to fourth place in the 2021 study. High customer satisfaction is coupled with a “Superior” AM Best rating for financial strength.
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