Best Homeowners Insurance Companies of 2019 - Bankrate.com

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There’s nothing like pulling out your homeowners policy, only to find that the premium you’ve been paying month after month didn’t pay for coverage you needed. It’s important to have homeowners coverage that’s as comprehensive and well-rounded as possible to protect your home––and your finances––from disaster, and unfortunately, not all insurance companies are created equally.

To help you make the most educated decisions on protecting your home, we’ve found the best home insurance companies of 2019. Whether you’re looking for a simple shopping experience, the top-rated coverage or the cheapest bundles, there’s a company out there for you. Let’s take a look at which home insurance companies ranked at the top for 2019, their ratings, who each option is best for and why.

Top-ranked homeowners insurance companies

Best overall company: Amica Mutual

Amica Mutual is one of the most highly ranked home insurance companies across the board and for good reason. They’ve consistently performed well above average year after year, and are a reliable, well-respected company that you can trust with your homeowners insurance policy.

• J.D. Power: Amica Mutual won J.D. Power’s top award for homeowners insurance in 2018, racking up 861 points out of 1,000 on the overall customer satisfaction rankings, and were rated 5 out of 5 in every category. In 2018, Amica Mutual took the top spot for best home insurance companies for the 17th consecutive year.
  • Overall satisfaction: 5 out of 5
  • Policy offerings: 5 out of 5
  • Price: 5 out of 5
  • Billing process and policy information: 5 out of 5
  • Interaction: 5 out of 5
  • Claims: 5 out of 5
• AM Best: AM Best grades Amica Mutual at an A+.
• BBB: The Better Business Bureau ranks Amica Mutual at an A+, which is the highest grade a company can receive. The BBB takes into account customer interaction, complaints and business information to issue grades to businesses, and it looks like Amica Mutual’s information came back squeaky clean.

Best discount coverage: Allstate

If you’re looking for discount coverage, Allstate offers it. Their coverage is considered average across the board when comparing home insurance companies, however they offer more than typically in the discount category. If you’re looking for the best homeowners insurance rates on a budget, look first at Allstate, which offers massive discounts for bundling––we’re talking up to 25% discounts––and other huge rate cuts, like a 20% discount for having a clean claims record. There are also discounts offered for having hail-proof roofs, automatic payments, being above 55 years old and retired, among others.

• J.D. Power: J.D. Power ranks Allstate as average across the board (all 3 out of 5) but there isn’t anything average about their discounts.
  • Overall satisfaction: 3 out of 5
  • Policy offerings: 3 out of 5
  • Price: 3 out of 5
  • Billing process and policy information: 3 out of 5
  • Interaction: 3 out of 5
  • Claims: 3 out of 5
• AM Best: AM Best grades Allstate at an A+.
• BBB: The BBB ranks Allstate at an A+, which is the highest grade a company can receive.

Best replacement coverage: Metlife

There are a number of perks for purchasing homeowners insurance through Metlife, but none are as important as their guaranteed replacement cost coverage. It can be a gamble as to whether your policy will cover all of the costs to replace your home or belongings in case of a disaster, but Metlife makes it easy to rest assured that you’ll receive the full replacement cost without factoring in the depreciation. The replacement cost coverage means you won’t be out a ton of money if your home isn’t worth as much as it will cost to replace it. If your home is worth $100,000 but you can’t replace it for less than $250,000, Metlife will cut you a check for $250,000.

Best homeowners insurance rates and coverage for military members: USAA

USAA is rated highly across the board, but while they may offer some of the best homeowners insurance coverage, they’re only in the business of serving military members and their families. If you’re in the military and looking for the best homeowners insurance rates, USAA is affordable and their coverage is impeccable. While J.D. Power doesn’t rank them––likely because they aren’t available to everyone––they do give a nod to the company’s “claims satisfaction and shopping satisfaction.”

• J.D. Power: J.D. Power doesn’t rank USAA, likely because they’re only available to military members and their families.
• AM Best: AM Best grades USAA at an A++, the highest grade they can receive.
• BBB: The BBB grades USAA at a B- taking into account the entire organization’s interactions with its customers, including interactions with local locations.

Best for picking your own coverage: Geico

If you want to choose your own homeowners insurance adventure, Geico is the top dog. With Geico, you can piece together your own coverage, which is great for insurance DIYers, or those who need very specific coverage.

Best for large policies: Farmers

If you need to buy coverage for a large home or a home that’s rapidly increasing in value, you may want to turn to Farmers, because this company knows how to handle large policy limits. They’re experts in doling out the best rates for high limit policies, and their customer service is top notch, too. You may even be able to snag a few discounts on top of those low rates, which is an added bonus.

• J.D. Power: J.D. Power ranks Farmers as average across the board.
  • Overall satisfaction: 3 out of 5
  • Policy offerings: 3 out of 5
  • Price: 3 out of 5
  • Billing process and policy information: 3 out of 5
  • Interaction: 3 out of 5
  • Claims: 3 out of 5
• AM Best: AM Best grades Farmers at an A.
• BBB: The BBB grades Farmers at an A+, the highest they can receive.

Best for first-time homebuyers: Allstate

Buying your first home is intimidating, but Allstate helps ease a little bit of that burden by providing tons of resources to their customers. They offer discounts, tools and resources, including their Common and Costly Claims tool, which helps buyers figure out what coverage they may need by breaking down common insurance claims by ZIP codes. Between the tools, educational information and easy navigation, Allstate is a great option for a first-time buyer.

• J.D. Power: J.D. Power ranks Allstate as average across the board (all 3 out of 5).
  • Overall satisfaction: 3 out of 5
  • Policy offerings: 3 out of 5
  • Price: 3 out of 5
  • Billing process and policy information: 3 out of 5
  • Interaction: 3 out of 5
  • Claims: 3 out of 5
• AM Best: AM Best grades Allstate at an A+.
• BBB: The BBB ranks Allstate at an A+, which is the highest grade a company can receive.

Frequently asked questions

What do homeowners insurance policies cover?

Each policy differs according to the policy holder’s needs, but most often contain dwelling coverage, personal property coverage, liability coverage and additional living expenses coverage. There are plenty of other coverage options that can be added to any policy depending on your needs.

What is the typical cost of home insurance coverage?

The cost of homeowners insurance coverage depends on what you need covered in your policy. Still, there are a few regular factors to help determine the cost of your insurance premiums. Keep your coverage options and these factors in mind as you search for the best homeowners insurance rates.

• The age and value of your home
• The materials your home is made of
• The type of policy limit you choose
• The policy deductibles you choose
• What, if any, security features you have at home

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