A homeowners insurance policy is like a financial safety net for the largest purchase of one’s life. You can protect yourself from costly repairs after a fire or replacing stolen items.
We want you to be able to choose the right homeowners insurance company for you. This is why we have rated the 2022 Best Homeowners Insurance Company. We discuss everything from the availability of rates and policies to how to file a claim.
Our rating puts Lemonade at the top of our list because it is almost entirely online. It is easy to sign up, cancel, file claims, change your policy and make any changes via its website or mobile app. For those who prefer to file claims online, and not speak with an agent, this can be a huge advantage. You can also call the number if you have a home-related emergency and are unable to access the internet.
Lemonade offers additional coverage for expensive personal items such as jewelry, musical instruments, and camera equipment. Through its Giveback program, Lemonade is proud to give back to the community.
Lemonade is not available in all states, as are other companies in our rating.
USAA is a standout in our rating because of its policies and services offered primarily to veterans and members of the military. USAA is the only company to offer identity theft protection as part of its homeowners insurance policy. Most other rating companies only offer it as an optional extra.
USAA offers homeowners insurance in all 50 states, unlike many other competitors. USAA and ADT have partnered to offer homeowners insurance discounts.
Amica has rates that are competitive with those of other companies in our rating. This makes our Cheapest Homeowners insurance Companies in 2022 rating. It offers a variety of homeowners insurance options, including additional coverage for your home, business and identity theft.
Amica also offers a policy that pays dividends. That means you will get a portion of your annual premiums back. Amica Platinum Choice is a homeowners insurance policy that includes a variety of additional features, including extended coverage for valuables and sump pump backup/sump pump overflow options.
Allstate offers a variety of coverage options to complement its standard homeowners insurance policy. There are some common options, such as scheduled personal property coverage for high value appraised items. However, there is also less common coverage that covers your yard, garden, or sports equipment. To better tailor your coverage, Allstate will pair you up with a local agent once you become a customer.
Although Allstate is the most expensive homeowner insurance company in our rating, there are a few discounts that could bring down the premiums.
#5 State Farm
State Farm offers homeowners insurance in all 50 states. The standard policy is comparable to other rating companies. You can also get a number of discounts that are not as common, like for the installation of an impact-resistant roof. There are two options for policy coverage: identity theft and sewer backups.
State Farm has a large network of over 20,000 agents across the U.S. You may feel more at ease buying insurance through a local agent if you live near one.
Nationwide is available in all but three states. Nationwide’s standard policy covers credit and debit card fraud, as well as rebuilding your home to the current code in case of a covered catastrophe. You will also be eligible for the Brand New Belongings Benefit, which covers both the cost of new items and the depreciated worth of your belongings.
You have many other options to add to your homeowners insurance. You can add Replacement Cost Plus to your homeowners policy, which will increase your coverage limit if your home is rebuilt following a covered loss.
#7 American Family
American Family places a strong emphasis upon its local agents. American Family offers additional coverages, such as matching side. This means that if a portion of your home is damaged or destroyed, American Family will replace the siding and match it. Equipment breakdown coverage is also available. This will protect your smart components and appliances in the event of a mechanical or electrical failure.
American Family offers homeowners insurance policies in less than half of the U.S. states.
#8 Erie Insurance
Erie Insurance offers guaranteed replacement cost as a standard policy. Many other insurance providers might only offer this option, or not at all. Other options include coverage for a sump pump overflow or water backup, and coverage from your home to the curb for underground utilities lines. Erie is also No. Our rating of the Cheapest Homeowners Insurers of 2022 is 1.
Erie Insurance has a few drawbacks. It isn’t widely available in the same way as other companies we rated. Erie homeowners insurance policies can be purchased in less than half of the U.S. states.
#9 Liberty Mutual
Liberty Mutual is one of our least expensive homeowners insurance providers. It offers homeowners insurance policies in all 50 states, except Wyoming. Liberty Mutual offers a competitive standard policy that is comparable to other companies in our rating. They also offer a variety of policy add-ons such as replacement cost which covers the cost of replacing an item covered, rather than its depreciated cost. You can also adjust your coverage limits to keep up with inflation.
Chubb: Chubb’s standard policy, Masterpiece Homeowners Insurance (or Chubb), includes coverage for replacement cost and backup water. In partnership with Wildfire Defense Systems, Chubb offers a free option that will help you evacuate, set up temporary living arrangements, and clean up after a wildfire.
Private flood insurance policies are also offered by Chubb, which is the only company we have rated. These policies offer greater coverage than those offered by the National Flood Insurance Program (NFIP).
Chubb’s homeowner’s insurance policies are only offered through its agents.
Progressive is a standout among the other companies in our rating because it not only issues homeowners insurance policies but also sells policies from other insurance companies. This service allows you to get quotes from multiple insurance providers at once.
Progressive also offers the option to customize your policy by including coverage for water backups and personal injury lawsuits. You may also add extra coverage for valuable possessions.
#11 Farmers Insurance
Farmers Insurance offers three tiers of homeowners insurance. Each tier increases the coverage and adds more features. All three policy tiers include features such as claim forgiveness (in which your premiums will not increase if there are no claims filed for a specified period), deductibles that decrease the longer your Farmers policy is active and discounts if you go a certain amount of time without filing any claims. Although the Premier policy is the highest-tier, there are some conditions.