Homeowners insurance is more than a financial safeguard; it’s a means of protecting your family from physical and emotional hardships if your home is ever damaged or destroyed.
Owning property comes with a lot of personal risk, as severe weather and tragic accidents can be near impossible to predict. Even if you are warned in advance, there’s not much you can do to stop a hurricane, earthquake, or tornado from causing significant damage to your home, vehicles, and belongings, which is why it pays to be proactive.
According to the Insurance Information Institute (III), property damage and theft accounted for 98.1% of all home insurance claims filed in 2017.
Opting out of homeowners insurance would force you to pay for any repairs and replacements out of pocket, along with any temporary living expenses you may incur while your home is under construction.
High-cost properties face even higher risks, as it may not be practical or economically feasible to rebuild from the ground up. If you’re uninsured, suffering a total loss can prevent you from restoring your home and possessions, leaving you solely responsible for putting your life back in order.
Selecting the right provider can save you time, money, and frustration, which is why we have evaluated over 50 homeowners insurance companies on coverage, costs, customer service, and financial strength.
6 Best Homeowners Insurance Companies Near You: Get Quotes & Compare Coverage Today
With hundreds of insurance companies competing for your business, it can be difficult to sort out which policy options will suit your particular needs.
To simplify the process, we’ve assembled a list of the six top local carriers that offer the personalized service you may be looking for.
1. State Farm
Although State Farm is a nationwide homeowners insurance carrier, the company has been consistently recognized for its customer-focused approach at the local level. State Farm has over 19,000 independent agents operating around the U.S., so chances are there is a physical branch in your area. I
n 2017, this insurer captured a staggering 10.15% of the total market share in the home insurance space, almost doubling the second largest company in terms of direct premiums written, according to the National Association of Insurance Commissioners.
The company is also quite financially stable, having been awarded an AA rating from Standard and Poor’s and an A++ from A.M. Best.
State Farm offers a basic selection of conventional coverage types, from dwelling and other structures protections to loss of use reimbursement, but does not have the most robust catalog of supplemental options or discount programs.
Despite State Farm’s mixed reputation with policyholders, the company ranked fifth overall for customer service in J.D. Power’s 2018 U.S. Home Insurance Study.
Additionally, this insurer received an NAIC complaint ratio of 1.31 in 2018, which is only slightly higher than the median average of 1.0. State Farm is a solid choice for new homebuyers and anyone interested in a standard policy or in-person assistance.
Amica Mutual Insurance is considered one of the top local companies operating in the homeowners insurance market despite its relatively small presence.
The company only wrote 2,309,584 direct premiums in 2017, accounting for just 0.36% of the total market share in the U.S., according to an NAIC report. Amica is licensed to operate in 49 states (Hawaii being the only exception) and works with a massive network of agents out of 45 physical offices located around the country.
While several financial rating agents have not released official scores for this insurer, Amica did earn an A++ from A.M. Best.
What distinguishes Amica from many of the other carriers on this list is the company’s exceptional customer service reputation. This insurance provider was the only company to receive a five-star customer satisfaction rating in J.D. Power’s 2018 U.S. Home Insurance Study, marking its 17th consecutive year in the No. 1 spot.
What’s more, Amica had an NAIC complaint ratio of 0.31 in 2018, which is far below the national average. The company offers a decent selection of discount programs, such as its home and auto insurance bundle that can save policyholders up to 15% in eligible states.
Amica is best suited for homeowners who are looking for outstanding customer service and a customized insurance policy.
Allstate is another nationwide carrier with a focus on local service, as it employs more than 12,000 dedicated agents and financial representatives around the country. In 2017, this insurer secured 4.92% of the U.S. homeowners insurance market share after writing 31,501,664 direct premiums, per the NAIC.
Like most large insurance companies, Allstate is considered above average in terms of financial stability, having been awarded an AA- rating from S&P and an A+ from A.M. Best.
The company offers a variety of standard and supplemental coverage options to choose from and allows policyholders to build a policy that matches their exact needs.
Allstate has built a reputation as a customer-focused insurance company that provides personalized assistance and claims processing support.
The company was officially accredited by the Better Business Bureau in 2018 and currently has an A+ rating from the agency, though it’s profile does feature a one-star customer review score.
While Allstate only ranked seventh in JD Power’s 2018 U.S. Home Insurance Study, its overall rating did fall above the industry average. What makes this insurer unique is its industry-leading collection of discounts, which can help homeowners significantly reduce their monthly premiums.
Allstate’s home and auto insurance bundle alone can save you up to 25% on your insurance costs. If you’re looking to obtain a comprehensive policy at an affordable rate, this insurance provider may be the best option.
Ranked among the Fortune 500 list of the largest public companies in the U.S., Erie Insurance Group is considered a top carrier within its service region.
While the company is only licensed in 12 states and the District of Columbia, Erie managed to capture 1.04% of the total national market share in 2017 and wrote over 6 million direct premiums, according to an NAIC report.
This insurance provider employs over 120,000 dedicated agents who work with policyholders at the local level and received a superior A+ financial stability rating from A.M. Best.
Unlike many of its nationwide competitors, Erie is straightforward about the need for add-on coverages to protect against hazards that may be excluded from a basic insurance plan, allowing homeowners to fully customize their policy.
This may account for why the company ranked fourth overall in customer service in J.D. Power’s 2018 U.S. Home Insurance Study and received a low NAIC complaint ratio score of 0.41 for that same year.
Although Erie is not an available option for much of the U.S., homeowners in their service region may benefit from the company’s personalized approach to home insurance.
Farmers Insurance Group is unique among the carriers on this list, as all of its home insurance products fall under the purview of Farmers Insurance Exchange and California state law.
This means that the company is technically owned by its policyholders, while its parent firm, Zurich Insurance Group, has no ownership interest.
Farmers employs 48,000 exclusive and independent agents across the U.S. and is licensed in all 50 states, though the quality of their services tend to vary between regions. In 2017, the company secured 3.08% of the home insurance market share and was considered the ninth largest carrier in the country, per the NAIC.
One of the advantages of working with Farmers is its massive catalog of supplemental policies, which offer a wide range of coverage options for every type of homeowner.
This carrier insures both low- and high-value properties, though its rates tend to vary on a case-by-case basis. Farmers has a bit of a tumultuous customer service reputation, as the company’s largest branch has had over 700 complaints filed against it with the BBB.
That said, Farmers had a below-average NAIC complaint ratio of 0.54 during 2018 and ranked slightly above average in J.D. Power’s 2018 U.S. Home Insurance Study. This home insurance provider is a solid choice for homeowners who own expensive properties or multiple homes, as its policies feature higher limits than most of its competitors.
The Travelers Companies is one of the largest writers of U.S. home insurance through independent agents and captured an impressive 3.85% of the nation’s market share in 2017, per the NAIC.
This carrier and its subsidiaries employ more than 14,000 independent agents and brokers, who operate out of field offices located in every state. The company earned the highest possible financial stability rating from A.M. Best, A++, and the third highest from Moody’s and S&P.
Travelers offers a wide range of standard and add-on policies that can help homeowners protect their assets from damage and total loss, and specializes in personal property coverage.
This insurer is on par with many of its nationwide competitors, though Travelers has had some difficulties with its customer service over the past few years.
While there were just 23 customer complaints filed with the NAIC during 2018, the company’s main BBB page currently features review score of only 1.5 out of 5 stars. That said, Travelers has been consistently recognized in Fortune’s list of the World’s Most Admired Companies.
Homeowners looking for a deal can obtain home and auto insurance bundle quotes on its website, which can reduce insurance costs by up to 15%. Travelers is a strong option for those interested in low monthly premiums and a quick enrollment process.
Getting the Best Homeownes Coverage
The best way to secure long-term stability is to partner with a reputable homeowners insurance company that understands your specific needs, though it can be difficult to find the perfect fit.
Homeowners policies can vary drastically between providers, as each insurer has its own costs and coverage options. Finding the right policy at an affordable price may seem daunting, but there are a variety of comparative shopping strategies that can help you sort through the competition.
First, it’s important to request quotes from several different insurance companies, particularly those that have been highly rated in coverage and customer service.
Next, you’ll want to keep an eye out for any available discount programs that might lower your monthly premiums, such as a home and auto insurance bundle. Packaging your policies can substantially reduce your expenses without sacrificing the comprehensive coverage you need to keep your family safe.
While comparative shopping can help you land a fair deal, the only way to truly safeguard your home and assets is by working alongside an insurance provider that offers personalized support.
If you’re looking for hands-on assistance and a policy that is customized to your unique needs, a local carrier may be the best option. Here are some of the benefits of partnering with a homeowners insurance company close to home:
- In-person consultations: Determining how much coverage you need can be a challenge, as every insurance policy features different compensation guidelines and reimbursement limits. For example, standard HO-1 plans only cover hazards that are explicitly named in your contract, which leaves you open to a host of common perils that may cause severe financial loss, such as water damage from the accidental overflow of household plumbing fixtures. Working with an insurance agent face-to-face allows you to talk through potential threats and build a customized policy that puts your needs first.
- Regional expertise: Anticipating environmental risks is an essential part of the enrollment process for home insurance, as each region of the U.S. has different weather patterns and natural hazards to look out for. For example, homeowners living in Middle America don’t have to worry as much about seasonal flooding or hurricanes as those living in low-lying coastal areas. Local agents tend to have a clearer picture of the risk factors in their service area compared to nationwide insurers that operate entirely online. This regional expertise can help you select the exact coverage options you need and identify hazards that might not be included in a basic homeowners policy.
- Competitive rates: Most insurance carriers base their rates on the value of your home and assets, the amount of coverage you elect, and the deductible you choose, though there are some opportunities for cutting costs. However, large providers that do most of their business online don’t leave much room for negotiation, as they tend to offer standardized policies with firm rates. Local insurance agents are generally more responsive and open to discussing premium concessions, especially if you’re signing up for extra coverage. They can also help you identify discount programs you may be eligible for and provide you with prompt home and auto insurance bundle quotes.
By utilizing these strategies and working with top rated companies, you can insure that you have the coverage and service you need for your biggest investment.*While we make every effort to keep our site updated, please be aware that "timely" information on this page, such as quote estimates, or pertinent details about companies, may only be accurate as of its last edit day. Huntley Wealth & Insurance Services and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.