Top 10 Homeowners Insurance Companies in the U.S?

Your home is a significant investment because of its valuables—from the structure to furniture and electronics, your clothes, jewelry, and art. You’ve put a lot of thought and money into making your home just right. That’s why it’s so important to have homeowners insurance – in case something happens to your house or its contents.

But, not all homeowners insurances will fit your needs equally; some are better than others. Therefore, it’s crucial to pick the appropriate policy from a provider that delivers when you call.

In our selections for the top homeowners’ insurance companies, we consider each company’s customer service and claims satisfaction scores, available policy options, discounts, and typical premiums as calculated using Lifespace data for 2022. Remember, the average annual cost of home insurance in the country is $1,899, so bear that in mind while comparing prices.

Top-tier Homeowners Insurance Companies in 2022

Here’s our breakdown of the top ten homeowners insurance companies in the United States.

1.  State Farm Homeowners Insurance

We recognize State Farm as one of the best insurance companies because of its high customer satisfaction scores, nationwide availability, and superior financial strength. In 2022, State Farm held 18.41% of the market share, making it the top home insurance in North America. With that comes an extensive network of local agents (1900) to help policyholders with their needs. 

Except for Massachusetts and Rhode Island, State Farm offers homeowners insurance in every other state. The company provides a unique fire safety program through its cooperation with Ting in addition to common coverages, including residence, personal property, liability, and additional living expenses.

Policyholders get a free gadget that keeps an eye on your home’s electrical systems and notifies you of problems before a fire breaks out.

While State Farm’s typical annual premiums are a little higher ( $2,534) than the national average, the firm does provide a few discounts that could help you lower the price of your house insurance:

• Multiple line discount– If you consolidate your home and auto insurance coverage with State Farm, you will get a discount on both policies.
• Roofing discounts– If you’ve had your roof replaced or retrofitted with impact-resistant materials, you could get a discount on your premium.
• Home alert protection discounts– you can qualify for a discount for installing safety equipment such as fire, smoke, burglar, or other home monitoring systems.

Pros

• High customer satisfaction
• Superior financial strength
• Nearly nationwide availability

Cons

• Typical premiums are higher than average

2.  Allstate Homeowners Insurance

For homeowners who desire a selection of add-on home insurance options to customize a policy to their needs and lifestyle, Allstate home insurance may be a smart choice.

Allstate customers can add water backup coverage, sports equipment, electronic data recovery, and even business items housed at your home. Participants in home-sharing can purchase Allstate HostAdvantage, which provides additional protection against stolen or damaged personal property caused by tenants.

Allstate’s home insurance is a bit affordable at $1,300 per year for $250,000 in dwelling coverage than the national average.

For new customers who have not filed claims, Allstate offers a discount and a Claim-Free Bonus, which grants a 5% rebate on the renewal premium each year if there is no claim.

Pros

• A selection of add-on home insurance options
• Reasonably priced
• Offers a discount and bonus for new, claim-free customers

Cons

• Customer satisfaction scores are below average compared to some competitors
• Not available in all states- only sold in 26 states.

3.  USAA Homeowners Insurance

USAA is a unique home insurance company that only offers coverage to military personnel, veterans, and their families.

USAA consistently ranks highly for customer satisfaction and financial stability, receiving an A++ from AM Best in 2021.

The typical coverage categories for USAA homeowners insurance, such as liability, personal property, and other structures coverage, are included, but they can also get customized to meet your specific needs. The coverage consists of military uniforms damaged while on active or reserve duty.

Although USAA’s standard house insurance premiums are already less expensive than the national average, the firm offers a few discounts that can enable you to save even more money. These discounts include claims-free and protective devices.

Pros

• Low average premiums
• Outstanding customer service scores

Cons

• Only available to military personnel or veterans and their families

4.  Liberty Mutual Homeowners Insurance

Liberty Mutual is a large, national homeowners insurance company that provides a variety of coverages and discounts.

For example, Liberty Mutual offers standard dwelling, liability, and personal property coverage, as well as add-ons like jewelry floater insurance and earthquake insurance.

The use of endorsements, such as those for storm protection and inflation protection, is available to homeowners. The company also provides various discounts, including savings for having no claims, requesting a quote before your current policy ends, insuring a newly purchased home, getting a new roof, signing up for automatic payments, and several other things.

Liberty Mutual’s average annual premium of $1291 is still lower than the national average.

Pros

• A variety of coverages and discounts
• Endorsements and inflation protection are available

Cons

• More than average complaints

5.  Farmers Homeowners Insurance

Farmers homeowners insurance is a good choice for homeowners who want more than the standard dwelling, liability, and personal property coverage.

Farmers Insurance also provides extra benefits to round out your financial security like a disappearing deductible, claim forgiveness, Eco-Rebuild coverage for greenhouses, and other add-ons. The company offers several savings options, including discounts for home security systems, healthcare professionals, teachers, first responders, and military personnel. It also provides savings for non-smokers.

The average cost of Farmers homeowners insurance is $1432 per year, slightly lower than the national average.

Pros

• A variety of coverages and discounts
• Eco-Rebuild coverage for greenhouses

Cons

• Customer satisfaction scores are below average

6.  Travelers Homeowners Insurance

Travelers is a large, national homeowners insurance company that has been in business for over 160 years.

The company offers standard dwelling, liability, personal property, and other structures coverage, as well as a variety of endorsements.

Compared to other carriers, Travelers’ selection of add-ons for its house insurance coverage is more limited. It does, however, provide some replacement cost recommendations that might be useful. This includes additional replacement costs for the home as well as replacement costs for personal property.

The company’s average annual premium of $2,871 is higher than the national average.

Pros

• Provides solutions for extended replacement costs for your home.

Cons

• It has the highest premiums among the home insurance providers we looked at

7.  American Family Homeowners Insurance

American Family is a good choice for homeowners who want more than just the standard dwelling, liability, and personal property coverage.

Homeowners covered by AmFam may choose to add concealed water damage insurance to cover water damage brought on by leaks in a home’s plumbing system or household appliances, or they may select equipment breakdown coverage.

A typical American Family home insurance policy with $250,000 in dwelling coverage costs $1,106 annually. This is significantly less expensive than the national average for home insurance.

Pros

• A variety of coverages and discounts
• Affordable

Cons

• Customer satisfaction scores are not as high as some competitors.

8.  Nationwide Homeowners Insurance

Nationwide provides even more options for safeguarding your house and financial security. Homeowners could add Better Roof Replacement, which would call for using sturdier and safer roofing materials to fix your roof if ruined by a covered loss, and Valuables Plus, which offers additional coverage for high-value items.

Nationwide’s average annual premium of $1292 is lower than the national average.

Pros

• A variety of coverages and endorsements

Cons

• Customer satisfaction scores are below average.

9.  Chubb Homeowners Insurance

Chubb’s typical homeowners’ policies contain dwelling coverage. Still, because the business focuses primarily on the luxury market, its policies may additionally include several optional extra coverages and benefits, such as:

• Water backup coverage
• Tree removal
• Electronic data restoration
• Lock replacement
• Homeowners can add

Chubb’s average annual premium of $1748 is slightly lower than the national average. Although Chubb’s homeowner discounts differ by state, the insurer provides several options for lowering your cost. Policyholders might enjoy; a 10% discount if you don’t file a claim within three years.

Pros

• Focuses on the luxury market
• A variety of coverages and benefits

Cons

• It may be expensive for lower-value properties

10.              Progressive Homeowners Insurance

One of the most complete and cost-effective homeowners insurance providers is Progressive. Progressive doesn’t, however, write its policies.

The home insurance policies offered by Progressive are relatively straightforward, and there aren’t many additional coverage options. These include personal injury protection and water backup.

The company’s average annual premium of $1498 is lower than the national average.

Progressive home insurance can be a smart choice for homeowners searching for fundamental protection to combine with their auto policies. The business did, however, obtain a slightly below-average customer satisfaction rating and a higher-than-average NAIC complaint index for home insurance.

Pros

• Inexpensive
• Bundle Home & Auto Policies To Save More 

Cons

• Few discounts and add-ons

Conclusion

Your objective is to locate a house insurance provider that offers excellent customer service at a fair price. A fair price is frequently a deciding factor when purchasing home insurance, but you shouldn’t overlook excellent customer service. You want to be treated well if you need to submit an insurance claim for an issue like a house fire.

You should also look into a company’s customer satisfaction rating and NAIC complaint index. The NAIC complaint index measures the number of complaints against an insurer. The lower the number, the better.