The best home insurance company offers lower premiums and is accessible nationwide. As a homeowner in the United States, your property may be at the risk of damage. In some cases, the content of your home may be stolen or exposed to fire.
Getting the best insurance policy can cover both your home and its content when any of these incidents occur. In this article, we are going to talk about which home insurance company is the best for a homeowner in the United States.
What is a Homeowners Insurance Policy?
This is a type of insurance policy that protects homeowners from damages on either their property or the content therein. For example, the coverage extends to contents like television sets, furniture, and any other tangible property inside your home.
By paying the premiums on time, you get to lay a claim when any of your properties are damaged, stolen, or destroyed by natural causes, such as lightning and wind.
The 5 Best Home Insurance Companies in the U.S.
Here is a list of home insurance companies to check out when you are ready to sign up for the policy:
1. Allstate Insurance Company
This is one of the best home insurance companies in the United States and for good reasons too. Allstate has a J.D. ranking of 10 out of 22. While we consider this to be “poor,” the company compensates for it with the A+ (Superior) rating from A.M. Best.
Why We Choose Allstate as the Best Home Insurance Company
These are some of the benefits of signing up with Allstate for your next homeowner’s insurance policy:
Discount on Your Claims
Allstate offers claim-free tax, meaning that policyholders may not be required to pay the entire fee for making a claim. You can get as much as a 20% discount on your claim, provided you haven’t claimed with your previous insurer.
HostAdvantage Add-On
Some U.S. homeowners do not want to rent out their properties. In such cases, these homes are converted to VRBO or Airbnb. If this is what you want to do or already doing, rest assured that you will get additional protection.
This is because of the add-on provided to Allstate’s HostAdvantage that offers additional protection on both your rented property and shared home.
The downside to the HostAdvantage add-on is that it is not available in all the States.
2. AIG
Have a high-value home? Your best option is to work with a home insurance company that offers extensive service to cover your home and its content. AIG ticks the box in that regard. The company’s service includes offering landscape coverage, protecting your business property, and covering your property against theft.
Benefits of Insuring Your Home with AIG
The upsides to protecting your property with AIG include:
Lowered Premium
Paying the premium of insurance is a challenge to some policyholders. AIG tackles this by lowering the premium.
When compared with the premium offered by its competitors, this company’s premium is lower. This is because of the option of ultra-high deductibles.
All-Perils Coverage
The company offers a “guaranteed replacement cost” that covers homes up to $100 million. The interesting thing is that the coverage covers most of the perils, including replacements for most of the content of your home.
3. USAA Homeowners Insurance
Do you have a military background or you are in the military currently? If so, you can protect your home, even if you have run out of options. USAA offers protection for both veterans and active military personnel.
Benefits of Protecting Your Home with USAA’s Insurance Policy
USAA protects your identity, using its identity theft coverage. This means that if you lost your identity document, you are likely going to get up to $5,000 to cover it.
Add-Ons to Standard Home Insurance
Standard homeowners’ insurance doesn’t cover earthquakes and flood damage. However, USAA offers that by covering your home from damages caused by both earthquakes and floods.
Discounted Claims
USAA offers up to a 10% discount on claims. The condition is that you must not have made any claim with your previous insurer in the last five (5) years.
Further Reading:
- 7 Popular Whole Life Insurance Policies to Go for in 2022
- Why It is Important to Get Whole Life Insurance for Seniors in 2022
4. American Family
American Family offers home insurance to U.S. homeowners who live in thirty-one (31) states. Therefore, homeowners in 19 states wouldn’t be able to utilize its services.
Benefits of Protecting Your Home with American Family
The advantages of protecting your home with American Family include:
Comprehensive Coverage
American Family offers comprehensive coverage to homeowners including protection for both their homes and the content.
The coverage also extends to coverages that are not covered in standard homeowners’ insurance policies. These coverages include protection for sewage backup.
Varieties of Discounts
American Family also offers a wide range of discounts to policyholders. Discounts are offered on both renovated and new homes. Also, prospective policyholders can receive discounts when they add other policies to their coverage.
5. State Farm Insurance Company
State Farm offers protection for homes, automobiles, and boats. The company also offers life insurance, pet insurance, and medicare supplement insurance.
As an insurance policy provider, State Farm has an A++ (Superior) financial strength rating by A.M. Best. Its J.D. Power score is #4. This proves how trusted the company is.
Why We Choose State Farm as the Best Home Insurance Company
This insurance service provider is one of the best because it offers the following services to policyholders:
Discount on Home Security
The company offers discounts on important security systems in your home. This includes:
- Burglar alarms
- Fire
- Smoke
Homeowners may also receive an electrical fire system to further bolster the security of their homes.
Pet Medical Insurance
Are you a pet lover looking for insurance for your pet? State Farm offers pet medical insurance to cover some of the medical expenses for your pet.
Final Thoughts
When comparing the best and worst homeowners insurance companies, one of the things you want to do is to check the premiums. Most likely, this will run into the thousands. But check to see if the insurer offers monthly commitments, allowing you to pay a part of the premiums every month. Remember that a cheap premium doesn’t mean that the home insurer is affordable. Always check the full services, including the types of properties covered and the add-ons before making your decision.
