Homeowners insurance is a necessary expense for every homeowner. But it’s more than just a monthly bill. A homeowners insurance policy gives you protection against the worst possible scenario – it offers peace of mind and financial security, in the event of damage or disaster. And that’s why it’s so important to search online to find a reputable, trustworthy homeowners insurance company.
There are plenty of different homeowners insurance companies to choose from. But they’re all unique, and they all offer different policies, different coverage, and different pricing. That’s why you need to do your research and search online for a homeowners insurance company.
The following are five of the best homeowners insurance companies you’ll find.
1. Amica Mutual
Best For: Any homeowner who wants above-average customer care and performance from an insurer.
If you’re looking for a reputable, quality homeowners insurance company, you really can’t beat Amica Mutual. This insurance company consistently ranks as the best of the bunch thanks to its excellent customer service, above-average performance, affordable pricing, and wide range of policy options. Amica Mutual even scored a perfect 5 out of 5 when rated by JD Power. With a wide array of discounts and different coverage options, Amica Mutual offers everything you need to secure affordable homeowners insurance.
Coverage Offered
In addition to basic homeowners insurance coverage, Amica Mutual offers the following types of coverage:
- Catastrophic coverage for floods or earthquakes.
- Identity fraud expense coverage.
- Loss assessment plan for condo owners or shared property owners.
- Valuable items coverage.
- Home business coverage.
Biggest Pros
- Quick and easy claims process.
- Policy premiums are affordable.
- Can choose a policy with dividends or without.
- Exceptional customer service and customer satisfaction.
- Available discounts include multi-line, new or remodeled home, claim-free, and loyalty discounts.
2. Allstate
Best For: First-time homeowners and anyone who’s seeking straightforward, affordable home insurance rates.
If you’re a first-time home buyer, Allstate is one of the best insurance companies you can choose. This home insurer offers some of the lowest policy rates available, and they make it very easy to get a policy as a new homeowner thanks to their simple and straightforward products. There’s even a comprehensive online library offered so first-time buyers can learn as they go. Filing claims and figuring out your best options is all easy on the Allstate website. And if you decide to bundle your insurance policies with Allstate, you can save even more money – discounts of up to 25 percent are offered for those with multiple insurance policies.
Coverage Offered
In addition to what’s included in all Allstate policies – basic dwelling coverage, liability protection, personal property coverage, and guest medical coverage – your homeowners insurance plan can include:
- Personal umbrella policies, which offer protection against large liability claims.
- Manufactured mobile home coverage.
- Host advantage, which protects belongings if you share a home.
- Electronic data recovery, which pays for recovery of lost personal computer data.
- Flood insurance.
Biggest Pros
- Products and services are easy to understand.
- Policyholders can customize coverage.
- Online suite of educational tools.
- Special benefits for first-time home buyers.
- Available discounts include new home buyer, new home, loyalty, and claim-free discounts.
3. Geico
Best For: Cheap, bare bones coverage that’s budget-friendly.
If you need a homeowners insurance policy that simply covers the essentials and meets the bare minimum, Geico is your best bet. Geico offers policies at low prices that’ll work for any budget – in fact, Geico’s homeowners policies are some of the cheapest in the entire country. And you can potentially save even more money by purchasing multiple Geico insurance policies. You’ll get the minimum necessary coverage for the price you pay, which can be enough if you aren’t too worried about unexpected damages or disasters.
Coverage Offered
In addition to standard homeowners insurance coverage, you can add on extra coverage like the following:
- Limited jewelry coverage, which protects you if jewelry is stolen.
- Medical bills for individuals hurt on your property.
- Additional expenses coverage.
Biggest Pros
- Affordable rates and pricing.
- Flexible policy and coverage options.
- Valuable multi-policy discounts include savings for bundling policies, home security systems, getting medical coverage, and more.
4. Metlife
Best For: Homeowners who want guaranteed replacement cost coverage in the event of a loss.
Metlife is a more unique type of homeowners insurance company, one that offers extensive coverage that can truly replace the items you own if a catastrophic event like fire, flood, or robbery occurs. While many homeowners insurance policies and companies will replace the value of your home or items, Metlife goes a step farther with guaranteed replacement coverage. This means that you’ll get the actual dollar amount it costs to rebuild your home or replace your items, even if it’s more than what your home is currently worth. That makes this a great insurer for anyone who prioritizes replacement value.
Coverage Offered
In addition to your basic homeowners insurance coverage, Metlife also gives you the option to add on coverage like:
- Home replacement cost, which gives you the actual replacement cost instead of current value, with depreciation factored in.
- Personal property replacement cost, which is just for damaged or stolen personal property.
Biggest Pros
- Guaranteed replacement coverage.
- 24/7 customer service available.
- Available discounts include multi-policy, safety, and employer group discounts.
5. Chubb
Best For: Anyone in need of a high-limit policy or owners of luxury properties.
If you own a very valuable home or a luxury property, Chubb is the best homeowners insurance company for your needs. Chubb actually specializes in high-limit policies and highly valuable homes, making this insurer well-versed in the needs of luxury homeowners. But because this insurance company is dedicated to high-priced home coverage, policies aren’t cheap – they’re large and very expensive. Every Chubb policy is also backed by Chubb Limited, the world’s largest property insurance company.
Coverage Offered
Along with the typical homeowners insurance protections and coverage, Chubb also offers special coverage for valuables, like:
- Replacement cost.
- Extended replacement cost.
- Risk consulting.
- Cash settlement.
- Coverage for additional living expenses.
- Wildfire coverage.
- Earthquake coverage.
Biggest Pros
- Specializes in large policies with high limits.
- Designed for owners of high-value homes.
- Deductibles are waived with losses totaling more than $50,000.
- Can choose a cash settlement instead of replacement.
- Available discounts include multi-policy and home security system discounts.