Homeowner’s insurance is a type of home insurance that covers the losses and damages to the residence. It also covers the furnishings and other assets in the home and offers liability coverage. In recent years, homeowners insurance quotes have seen a steep price rise, predominantly because of natural calamities, construction costs, and inflation. So, homeowners must go through the top homeowner’s insurance companies and choose one that meets their needs to make an informed decision.
USAA
The company offers homeowners insurance strictly to its membership holders. Therefore, the company restricts its coverage to former and current military members and their immediate family members. USAA also offers military-specific protections, such as equipment for active-duty members and coverage for military uniforms.
Further, USAA charges no deductible if a customer’s belongings are lost or damaged by war. Unlike most other companies, the replacement cost coverage is a part of USAA’s standard policy. This implies that when the company assesses the value of the belongings, it does not factor in depreciation. The standard policy also includes theft coverage. Customers can request homeowners insurance quotes online.
USAA is available in all 50 states and Washington, D.C. Further, its A++ AM Best rating indicates its financial stability.
Erie
Customers who opt for Erie homeowners insurance and bundle it with auto insurance can save up to 25 percent on the premiums. While this is a good reason to shop for home insurance with Erie, it is not the only reason for its popularity.
The company has a solid customer satisfaction rating. In addition, it offers guaranteed replacement cost coverage without any extra cost. Besides this, Erie provides coverage for various aspects.
- Gift certificate reimbursement
- Gift cards
- Pets
- Hard-to-replace items
This coverage is included in all policies at no added cost. Moreover, the base policy from Erie offers more coverage options and flexibility than most competitors. Erie has over 13,000 agents with a local presence, so getting the policy is straightforward. The company also received an A+ rating from AM Best. But it is currently only available in a handful of states, and customers will have to speak to the agent to shop for the policy.
Westfield
This is one of the most popular homeowners insurance companies because of its low annual home insurance rate. The company offers a policy with $350,000 in dwelling coverage. Its average home insurance rate starts at $1344, which is about $300 lower than the national average of $1678 per year for a policy with a similar dwelling coverage limit.
Westfield is also popular for having the lowest customer complaints than its competitors. This means that customers who purchase policies with the company are mostly satisfied with the seamless claims process.
It also offers many upgrades and robust coverage options, which can amplify coverage for the house structure and rare offerings through its Wespak package.
Amica
This is one of the companies with the cheapest homeowners insurance. Its average monthly premium for $100,000 in liability coverage and $300,000 in dwelling is $146. However, raising the coverage limits to $300,000 for liability and $500,000 for dwelling increases the premium to $179 per month.
It is also well-known for handling claims. With Amica, customers can shop for two homeowner policies: the Platinum Choice Plan and the Standard Choice Plan.
The Platinum Choice Plan includes everything covered in the Standard Choice Plan. In addition, it offers coverage for what’s optional, such replacement cost coverage for personal items, water backup, and expanded coverage for business property and computers as with the standard policy.
In both of these plans, dividend payments are also an option. A policy that pays dividends returns a chunk of the annual premium to the customer. However, dividend-paying policies tend to be relatively more expensive.
Amica offers its policies in 48 states and is also accessible to people in Washington, D.C. But people from Hawaii and Alaska do not have access to Amica’s policies. Further, the company has an A+ AM Best rating, indicating its great financial stability.
Auto-Owners Insurance
The company offers coverage to 26 states via its vast network of independent agents. It has flexible home insurance policies and offers different coverage options.
- Theft coverage
- Equipment breakdown
- Guaranteed home replacement
Besides this, Auto-Owners Insurance offers affordable homeowners insurance quotes, with its average monthly premium being $184. Further, it offers great discounts.
- Water shut-off systems discount
- Multi-policy discount
- Mortgage-free discount
- Approval backup generator discount
- Green discount
Auto-Owners has a solid financial rating of A+ from AM Best; however, it does not have as many digital tools as other companies. Customers cannot buy the Auto-Owners policies in 25 states.
- Hawaii
- Delaware
- Connecticut
- California
- Alaska
- Louisiana
- Nevada
- Maine
- New Jersey
- Texas
- Wyoming
- Washington DC
- Vermont
- Maryland
- Mississippi
- Massachusetts
- Montana
- New Hampshire
- New Mexico
- New York
- Washington
- Oklahoma
- Rhode Island
- Oregon
- West Virginia