You deserve the best in home insurance
Home insurance helps shield your finances from the cost of unexpected property damage, and finding the right policy for your needs can help you prevent financial devastation after a loss. With so many home insurance companies on the market, though, you may not know where to start. Don’t worry, Bankrate is here to help.
We used our proprietary Bankrate Score to identify the best home insurance companies for several different consumer focuses. Whether you’re looking for the best home insurance company overall, the best digital company, the best budget company or the best company for high-value homes, we’ve done the research to identify the top insurers in each category.
How we picked these home insurance companies
- We started by gathering information about dozens of home insurance companies.
- Next, we analyzed the data, paying close attention to average rates, coverage options, digital tools, and third-party scores and ratings.
- Finally, we filtered the data through several key categories to identify the best company for several metrics.
Best home insurance company overall (tie)
For the second year in a row, USAA earned a Bankrate Award for best overall home insurance company, despite only being available to military members and qualifying family members. USAA offers a winning combination of low average rates, superior AM Best financial strength, several coverage options, discounts and a high customer satisfaction score from J.D. Power (although it doesn’t qualify for official ranking due to its eligibility restrictions).
- Has consistently high customer satisfaction scores
- Is available nationwide
- Offers coverage options tailored to military needs
Best home insurance company overall (tie)
Allstate offers a network of local agents, as well as helpful online tools and unique coverage options, that set it apart from the competition. Shoppers looking for a personalized policy might want to consider Allstate. The company offers endorsements, including HostAdvantage (for policyholders who home share), green improvement reimbursement, electronic data recovery and coverage for sports equipment.
- Allows policyholders to personalize their coverage
- Offers digital tools and helpful guides on its website
- Has below-average complaints with the NAIC
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Best digital home insurance company
Lemonade is shaking up the insurance industry by offering a uniquely AI-driven platform. Claims can be filed in the Lemonade mobile app and are assessed by AI. If your claim is approved through AI, it could be paid in just seconds. A team of adjusters handles claims that AI technology can’t process. Lemonade’s home insurance rates include a flat fee to cover business expenses, with any extra going toward the company’s claims expenses. Lemonade is also a Certified B Corporation, which means that giving back is integrated into its business model.
- Offers an innovative digital platform
- Provides fast and AI-driven claims handling
- Is a Certified B Corporation with a strong sense of community support
Best budget home insurance company
Auto-Owners offers low average rates for most homeowners in the 26 states where it is available. On top of its cheap coverage, Auto-Owners has a long list of discounts that may help you save even more. Price isn’t everything, though, even when you’re looking for cheap home insurance. Auto-Owners offers a long list of optional coverage types to help you build a policy that fits your lifestyle.
- Has low average rates
- Offers numerous discounts
- Offers several home insurance endorsements
Best for high-value homes
Chubb could be a standout option if you own a high-value or luxury home. The company offers several unique features that could help high-net-worth clients get the coverage they need. Risk Consulting, for example, allows a trained Chubb professional to come to your home and assess your coverage needs, while the HomeScan tool may help you detect leaks and faulty wiring before they can cause damage.
- Offers several options geared toward high-value homes
- Has an A++ (Superior) AM Best financial strength rating
- Is sold by local agents who can guide you in finding the right coverage