7 Best Homeowners Insurance Companies of 2021

7 Best Homeowners Insurance Companies of 2021

There are lots of advantages to owning a home: you may fix it up and resell it for a profit, rent it out to earn money, or simply live in it and never have to worry about paying rent.

The disadvantage is that there is insurance to think about. Depending on where you reside and the type of home you own, you have a range of coverage alternatives. What services do the finest house insurance companies provide?

When looking for home insurance quotes, you should know exactly what needs to be insured and what the policy covers.

Some of the items for which you may require insurance include:

  • Protection for the house and any additional structures on the property, such as a storage shed or detached garage.
  • Contents INSIDE the residences, such as electronics, jewelry, furniture, appliances, and so on…
  • Protection from any potential threat to your property and contents, such as fire, flooding, hurricanes, mudslides, and other natural disasters.
  • Liability insurance in case someone is injured while on your property.
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If you live in a location prone to severe weather, it’s a good idea to buy insurance to cover additional living expenses if you have to move out and stay somewhere else while the damage is being repaired.

Before you make your final decision, the top homeowners insurance providers will allow you to examine a summary of your coverage and even offer you with a sample policy when you sign up. You should be able to make changes to your coverage as well as policy variables like the start date and deductible.

Your policy should also allow you to terminate it at any moment. Some businesses will even give you a refund for the time you have already paid for.

While some homeowners are underinsured, others make the mistake of purchasing more coverage than they actually require. Make sure you have the correct level of coverage by going over a policy section by section to see if each form of coverage protects your investment adequately. There is such a thing as “protecting too much.”

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7 Best Homeowners Insurance Companies of 2021

After in-depth research, our review team has found that the following companies offer the best homeowners insurance available today:

  • Lemonade: Best Overall
  • Liberty Mutual: Best Discounts
  • Allstate: Best Coverage Options
  • Travelers: Most Experience
  • Amica: Best Customer Service
  • State Farm: Best Endorsements
  • USAA: Best Membership Perks

Best Overall Home Insurance: Lemonade

Despite the fact that Lemonade is a newcomer to the home insurance sector, the firm has worked hard to provide customers with a unique insurance experience. Individual endorsements for jewels, fine art, bikes, cameras, and musical instruments are among of the ways the company accomplishes this, letting you to choose how much coverage you want for each valuable item.

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Through its user-friendly mobile app, the company also aims to provide a positive experience for policyholders. It only takes a minute and a half to sign up for an insurance, and claims received through the app are frequently paid out within three minutes.

 

Pros & Cons

✔ Provides endorsements for high-value items.

✔ Has a Giveback program in which unused policy money is donated to charities.

✔ The mobile app takes 90 seconds to sign up, and most claims are reimbursed instantly.

✔ Alarm systems, building frame type, gated communities, and fire protection are all eligible for discounts.

✘ There are no actual places.

Our Score Breakdown for Lemonade Home Insurance

Criteria Score
Coverage 25.5 / 30
State availability 5.3 / 7.5
Customer service 12 / 15
Technology 12.5 / 12.5
Reputation 14 / 20
Additional benefits 14.3 / 15
Total score 83.5 / 100
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Liberty Mutual: The Best Deals

For nearly a century, Liberty Mutual has provided clients with inexpensive home insurance.

Because of the range of discounts available for things like job status, bundling, new homebuyer, paperless billing, early shopping, and even up to 12% just for ordering online, the company is able to keep its policies reasonable. This company is great for anyone wishing to save money by taking advantage of current discounts.

Advantages and disadvantages
✔ Offers a variety of discounts to help you save money on your premium

✔ Has over 100 years of insurance experience

✔ Offers valuable unique endorsements like mold coverage and sinkhole collapse

✘ Liability coverage for claims involving certain dog breeds is not included.

Our Score Breakdown for Liberty Mutual Home Insurance

Criteria Score
Coverage 30 / 30
State availability 7.5 / 7.5
Customer service 12 / 15
Technology 10.6 / 12.5
Reputation 20 / 20
Additional benefits 15 / 15
Total score 95.1 / 100
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Allstate is The Best Option for Coverage Options

Because of its customer service, customizability, and price, Allstate has the best homes insurance in the business. While most insurance companies have a claims center open 24 hours a day, Allstate offers 24/7 customer care for all insurance problems.

You can manage your insurance and file a claim using the web portal or mobile app if you prefer self-service over talking to a customer support agent.

While the rebuilding cost of your house determines your dwelling, additional structures, personal property, and loss of use coverage, you get to choose your liability, medical payments to others, and deductible levels.

You can also add extra endorsements to your policy, and Allstate offers nine homeowner discounts to help you save money on your premiums.

Advantages and disadvantages
✔ Feature discounts for multi-insurance bundling, loyalty, green home upgrades, and early sign-up

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✔ Provides 24/7 customer support for all claims, policy, billing, and sales problems

✔ Has a claim rate guard endorsement that won’t increase your premium if you file a claim

✘ Some states make it impossible to obtain a hassle-free estimate, necessitating interaction with an agent.

Our Score Breakdown for Allstate Home Insurance

Criteria Score
Coverage 30 / 30
State availability 7.5 / 7.5
Customer service 15 / 15
Technology 10.6 / 12.5
Reputation 20 / 20
Additional benefits 15 / 15
Total score 98.1 / 100

 

Most Experienced Travelers

With more than 160 years of expertise offering car, home, and renters insurance products and services, Travelers is the oldest company in the home insurance industry.

While its home insurance coverage options aren’t as wide as Farmers’, you may still customize coverage for other structures, personal items, and loss of use. If you’re looking for a dependable firm that knows the ins and outs of the industry, this is a wonderful option.

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Advantages and disadvantages
✔ Has over 160 years of insurance experience

✔ Has a deductible of up to $50,000;

✔ Provides medical payments to others coverage of up to $10,000 per person;

✔ Offers special savings for green houses and first-time homebuyers.

✘ Does not offer insurance for mobile homes.

Our Score Breakdown for Travelers Home Insurance

Criteria Score
Coverage 30 / 30
State availability 7.5 / 7.5
Customer service 12 / 15
Technology 10.6 / 12.5
Reputation 20 / 20
Additional benefits 13.5 / 15
Total score 93.6 / 100

Best Liability Coverage: Amica

Out of the providers in our evaluation, Amica® has the most liability alternatives. While most firms offer liability coverage ranging from $100,000 to $1 million, Amica’s minimum coverage choice is $25,000, offering policyholders the option of lowering their rate if they are less concerned about liability. It may also allow homeowners to increase coverage in other areas of their policy at a lower cost.

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Advantages and disadvantages
✔ Feature discounts for auto-pay, claim-free history, home renovations, and alarm systems

✔ Feature a mobile app, online chat, and customer portal for self-service

✔ Feature an endorsement for natural disasters called catastrophic coverages

✔ Feature a mobile app, online chat, and customer portal for self-service Feature a mobile app, online chat, and customer portal for self-service

✔ Feature a mobile app, online chat, and customer portal for self-service Feature a mobile app, online chat, and customer portal

✘ Typically, average premiums are higher than the national average.

Our Score Breakdown for Amica Home Insurance

Criteria Score
Coverage 30 / 30
State availability 7.5 / 7.5
Customer service 15 / 15
Technology 10.6 / 12.5
Reputation 20 / 20
Additional benefits 13.5 / 15
Total score 96.6 / 100

Best Endorsements: State Farm

State Farm offers a little more than ten endorsements to let you tailor your policy to your specific needs. Water backup, complete replacement cost, and earthquake insurance are among the company’s standard endorsements, as are service line, home systems protection, and personal injury.

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If you want to fine-tune your insurance with more coverage, State Farm might be the way to go.

Advantages and Disadvantages

✔ Offers  11 endorsements to personalize your insurance policy

✔ Provides inexpensive coverage for homes with a rebuilding cost of $400,000 or more.

✔ From signup to policy administration, consumers are connected to local agents.

✔ Discounts are available for auto insurance bundles, impact-resistant roofs, and home security devices, such as smoke detectors.

✘ Compared to competitors, there are less savings offered.

Our Score Breakdown for State Farm Home Insurance

Criteria Score
Coverage 30 / 30
State availability 7.5 / 7.5
Customer service 15 / 15
Technology 10.6 / 12.5
Reputation 20 / 20
Additional benefits 13.5 / 15
Total score 96.6 / 100

 

Best Membership Benefits from USAA
Only current or former military personnel, as well as their immediate family members, have access to USAA. If you qualify for USAA house insurance, you’ll get benefits including car rental discounts and ADT home security systems.

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Other house insurance companies need you to purchase add-ons for that form of protection, however USAA’s base policies offer three extra types of insurance coverage. For everyone who qualifies for membership, this organization is a fantastic place to start.

Advantages and disadvantages
✔ Membership benefits include USAA banking and shopping discounts.

✔ Credit card and forgery coverage, supplemental loss assessment, and business property coverage are all included in base plans.
✔ Payment history, bundling, fire alarms, and home security services or features are all discounted.

✘ Only military personnel and their families are eligible.

Our Score Breakdown for USAA Home Insurance

Criteria Score
Coverage 30 / 30
State availability 7.5 / 7.5
Customer service 12 / 15
Technology 12.5 / 12.5
Reputation 18 / 20
Additional benefits 14.3 / 15
Total score 94.3 / 100

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