Best Cheapest Home Insurence in US:
According to our analysis of more than ten home insurance policies and 15 companies, Amica is the best homeowners insurance provider. In our review, we look at key considerations for choosing a home insurance company, such as standard cost, dwelling and structure coverage, identity theft protection, valuable possessions coverage, and available discounts.
Does bigger really mean better when it comes to home insurance? According to the most recent market share data released by the National Association of Insurance Commissioners (NAIC), the top ten home insurance companies in the United States account for nearly two-thirds (64%) of the total market.
The 10 largest Home Insurance providers in the United States
Market share: 18.4%
Direct premiums written: $24.4 billion
Direct premiums earned: $23.2 billion
State Farm leads our list of the nation’s largest home insurers, accounting for nearly a fifth of the $133 billion home insurance market. The Illinois-based insurance behemoth has more than double the market share of the next-ranked insurer. Aside from that, State Farm is the largest P&C insurer in the United States, accounting for nearly a tenth of the total market, according to NAIC data. Home Insurence
State Farm provides home insurance in 48 states and Washington, D.C., through a network of over 19,000 local agents who are ready to help clients with questions and claims. Its homeowner policies include all standard features, but policyholders can add riders for additional protection. The increased dwelling limit add-on, for example, automatically increases your replacement cost by 20% if your home is insured for at least the estimated replacement cost. Home Insurence
You can also increase your home insurance coverage to include inflation, earthquake damage (California only), and identity theft, as well as the replacement of cooling and heating units with energy-efficient models following a loss. Home Insurence
Allstate
Market share: 9%
Direct premiums written: $12 billion
Direct premiums earned: $11.2 billion
Allstate sells home insurance policies in all 50 states. You can buy coverage for any type of home, including:
- Apartments
- Condo units
- mobile homes
- Rentals
If you rent out your home on Airbnb or other vacation rental platforms, you can take advantage of the insurer’s home-sharing policy, HostAdvantage, which pays out if your belongings are stolen. The policy also includes up to $10,000 in coverage per rental period to help pay for repairs that standard home insurance does not cover. Aside from that, you can select from a variety of add-ons, including: Home Insurence
Liberty Mutual
Market share: 7.3%
Direct premiums written: $9.7 billion
Direct premiums earned: $9 billion
Liberty Mutual is an excellent choice for homeowners who prefer an online experience to working with an insurance agent. One of the advantages of choosing a mutual insurer as your home insurance provider is access to its user-friendly website, which includes a variety of jargon-free educational resources about your coverage. You can also manage your policy from your smartphone using the insurer’s mobile app. Home Insurence
Liberty Mutual’s home insurance policies include all of the standard features, as well as the option to extend coverage with add-ons such as inflation protection and identity fraud expense coverage. The insurer is also known for offering a wide range of discounts. You may be eligible for lower premiums if you have a paperless policy, have recently installed a new roof, or use automatic monthly transfer payments. Home Insurence
Liberty Mutual’s home insurance policies include all of the standard features, as well as the option to extend coverage with add-ons such as inflation protection and identity fraud expense coverage. The insurer is also known for offering a wide range of discounts. You may be eligible for lower premiums if you have a paperless policy, have recently installed a new roof, or use automatic monthly transfer payments.
Liberty Mutual ranks 14th out of 20 insurers in J.D. Power’s customer satisfaction survey, with a score of 805 points. However, the mutual insurer is well-known as one of the best insurance companies to work for in the United States.
