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Buying a home is a huge investment, so purchasing the right homeowners' insurance is crucial. Looking for a policy that is the best fit can prove to be challenging since there are myriad companies and coverage options. While homeowners should be able to find policies that cover basics like personal contents, living expenses, personal liability, the building, and even coverage for guests who need medical assistance, there are many aspects to consider. This includes the ability to add additional coverage, as well as specialized perks and discounts.
All of the above reasons are why you need to shop around for the best deal, which is why we’ve reviewed 12 homeowners' insurance companies to reveal our top picks to help you make an informed decision.
Below you'll find home insurance available from our advertising partners, followed by our complete in-depth list of the best home insurance companies we found.
Best Homeowners' Insurance of 2022
- Best Overall: Amica Mutual
- Best for New Homeowners: Allstate
- Best for Veterans: USAA
- Best for Discounts: State Farm
- Best for High-Limit Policies: Chubb
Best Overall : Amica Mutual
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Amica was established in 1907 and is headquartered in Lincoln, Rhode Island. We rated this insurer the top overall because it offers some of the best options for coverage and has highly rated customer service and other benefits, such as its Contractor Connection feature.
Discounts for loyalty, multi-line, claim-free, and others
Network of trusted contractors
Highly rated on J.D. Power’s Claims Satisfaction Rating Study for the past decade
Homeowners' insurance not available in Alaska or Hawaii
Coverage for personal property for standard policy is for actual cash value
Additional coverage options not available in all states
Amica Mutual has extended coverage choices through its Extended Home Insurance Coverage program. Homeowners also can choose all-risk coverage. Options include replacement cost for the contents inside your home and the building itself, catastrophic coverage for earthquakes or floods, identity fraud expense coverage, and dwelling replacement coverage.
The insurer provides a few discounts to help you save money. Some of these include safety discounts for new or recently remodeled homes, alarm systems, and automatic detection devices, plus discounts for bundling policies, opting into autopay, signing up for e-statements, and if you've been claim-free for three years.
Additional Details
- J.D. Power Customer Service and Satisfaction Rating: #2 out of 22
- AM Best Financial Strength Rating: A+ (Superior)
- J.D. Power 2021 Claims Services Rating: 894 out of 1,000
Read the full review: Amica Mutual Homeowners' Insurance
Best for New Homeowners : Allstate
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Allstate Insurance
Founded in 1931, Allstate offers some of the best home insurance tools for first-time homebuyers. They include comprehensive educational resources, such as articles that show homeowners what to look for, and tools like the Common and Costly Claims, which help customers figure out the types of coverage they may need. There also are policy discounts for new homeowners.
Offers discounts for new customers and homeowners
Relevant educational tools
Website easy to navigate
Average customer satisfaction rating
Limited policy offerings nationwide (like its HostAdvantage home-sharing option)
Allstate offers optional coverage aside from standard coverage options, including yard and garden insurance, flood insurance, a personal umbrella policy, and coverage for your belongings if you're home-sharing. There also is optional coverage for electronic data recovery and manufactured dwellings or mobile homes.
Allstate has multiple discounts homeowners can stack. The new customer discount can net you a 10% discount and bundling policies a 25% discount. Additional discounts include if you're a recent homebuyer, have theft or fire protection devices, a smoke-free home, or are 55 or older and retired.
Additional Details
- J.D. Power Customer Service and Satisfaction Rating: #6 out of 22
- AM Best Financial Strength Rating: A+ (Superior)
- J.D. Power 2021 Claims Services Rating: 882 out of 1,000
Read the full review: Allstate Homeowners' Insurance
Best for Veterans : USAA
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USAA
Founded in 1922 and headquartered in San Antonio, Texas, USAA provides some of the best coverage for military members and their families. It offers coverage not normally offered by other insurers, such as for uniforms with no deductible under property insurance and extending to war zones.
Specialized coverage for military members and their families
Highly rated customer service
Multiple discount options
Membership required for customers
USAA's standard policy covers you for things like identity theft, vandalism, personal liability, dwelling coverage, and fire at the replacement cost with no depreciation. Homeowners also can add additional coverage such as home-sharing and earthquake coverage.
Discounts homeowners may be able to receive include saving 10% on premiums by bundling auto insurance, a 10% claims-free discount, and protective device credits.
Additional Details
- J.D. Power Customer Service and Satisfaction Rating: N/A
- AM Best Financial Strength Rating: A++ (Superior)
- J.D. Power 2021 Claims Services Rating: 905 out of 1,000
Best for Discounts : State Farm
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State Farm
Founded in 1922, State Farm has local agents who provide personalized services and discounts that not all insurance companies offer. This includes a policy discount for impact-resistant roofs in addition to the standard bundling discounts.
Comprehensive online educational resources for homeowners
State Farm Premier Service Program guarantees workmanship for up to five years
Replacement cost for building and personal property only
Coverage not available for sewer backup
State Farm Premier Service Program isn’t available nationwide.
State Farm offers standard homeowners' coverage, including theft or damage of personal property, damage from covered acts of nature, or damage from random acts such as fire, hail, or lightning.
Discounts range from the standard multi-policy discount to ones for devices you have in your home, such as alarm systems. The impact-resistant roof discount is unique and includes qualifying metal roofs and others that aren’t overlaid over existing ones.
Additional Details
- J.D. Power Customer Service and Satisfaction Rating: #7 out of 22
- AM Best Financial Strength Rating: A++ (Superior)
- J.D. Power 2021 Claims Services Rating: 880 out of 1,000
Best for High-Limit Policies : Chubb
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Chubb
Founded in 1882, Chubb is one of the world's largest insurers, with a presence in more than 54 countries. It’s earned its reputation as an insurer that caters to high-net-worth individuals. We rated it the best in this category because it offers features that may be typical for those who need high-limit policies and discounts for clients living in gated communities.
Offers specialized coverage for high-net-worth homeowners
Full cash value settlement options with extended replacement coverage
Home inspections available to verify home value
Need to receive a quote offline with an agent
Policy premiums may be higher.
Chubb provides standard coverage not typically offered by other insurance companies. This includes settlements on a replacement cost basis, all-risk coverage, and its HomeScan feature, where homeowners can find issues such as leaks and missing insulation before any damage occurs. Plus, clients can receive complimentary home appraisals to ensure adequate protection and assist with fire prevention and security advice. Optional coverage includes excess liability, wine collection coverage, and personal cyber risk.
The insurer offers multi-policy discounts for myriad security features and modern renovations. They also offer discounts for things that would be relevant for high-net-worth individuals, such as gated communities and on-premises caretakers.
Additional Details
- J.D. Power Customer Service and Satisfaction Rating: #19 out of 22
- AM Best Financial Strength Rating: A+ (Excellent)
- J.D. Power 2021 Claims Services Rating: 896 out of 1,000
Compare the Best Homeowners' Insurance
| Provider | Best For |
|---|---|
| Amica Mutual | Best Overall |
| Allstate | Best for New Homeowners |
| USAA | Best for Veterans |
| State Farm | Best for Discounts |
| Chubb | Best for High Limit Policies |
Frequently Asked Questions
What Does Homeowners' Insurance Cover?
Homeowners' insurance typically comes with basic coverage that most companies adhere to. You'll be able to find out what your insurance policy covers and coverage amounts on the declaration page.
Here’s what your policy could cover:
- Building structure: This includes any attached structures or detached structures on your property.
- Personal belongings: Personal belongings also can include items on- and off-premises. Coverage is for items that are stolen or destroyed by insured disasters.
- Additional living expenses: You'll be paid additional costs of living if you're unable to live in your home due to damages from an insured disaster. This includes meals, hotel bills, and other types of typical living expenses.
- Personal liability: This part of the policy covers you from lawsuits for property damage or bodily injury that covered members cause to others.
- No-fault medical coverage: If a neighbor or guest is injured in your home, this person can submit relevant medical bills to your homeowners' insurance company.
How Are Homeowners' Insurance Rates Determined?
Insurance companies base their rates on a few factors, which include:
- Your personal details: Your payment and claims history, association memberships, employer, or even your insurance credit score can affect your premium.
- Location: Factors include construction costs in your area, the insurer’s experience in the area, distance to a fire station, and any weather conditions that may impact your property.
- Structure of building: Insurers look at your building's age, your property’s condition, and other details such as roof, electrical, heating, and plumbing systems.
- Applicable discounts: Some insurers offer perks for homeowners who have preventive measures such as water shut-off valves and alarm systems. Discounts also can include whether you’re bundling additional policies, or increase or decrease your deductible.
- Type of protection: Pricing may go up or down depending on whether you choose things like an all-risk policy, optional riders, green rebuild upgrade, blanket jewelry coverage, or just the bare bones.
All basic coverage has limits, including the amount covered and limits on certain items determined by your policy. Policies also will indicate what isn't covered—for example, damages caused by earthquakes and floods.
$1,211
According to a 2019 study by the National Association of Insurance Commissioners, this is the average annual premium for homeowners' insurance.
How Do You Get Homeowners' Insurance?
Getting a homeowners' insurance policy starts with obtaining a quote from a provider. Since homeowners' insurance companies underwrite and price their policies differently, it’s best to shop around multiple insurers to find the best price and policy that suits your needs. Receiving a quote can take as little as several minutes if done online.
Before getting a quote, determine what type of policy you want. This means looking at what deductible and coverage limits you want, plus any additional coverage like flood or umbrella coverage. When considering your deductible, make sure it is not higher than what you can afford to pay out of pocket.
Don’t forget to ask for any current promotions or discounts. For example, some insurance companies offer significant discounts for bundling multiple policies like auto and RV insurance. Some even offer discounts for homeowners who have certain home features, such as having a security alarm system installed.
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