Best homeowners insurance companies of February 2023
Auto-Owners Insurance, USAA, State Farm, Amica, and American Family are among the top-rated home insurance companies in Policygenius’ analysis. Compare company ratings and find the best home insurance for you.
By
Pat HowardPat HowardManaging Editor & Licensed Home Insurance ExpertPat Howard is a managing editor and licensed home insurance expert at Policygenius, where he specializes in homeowners insurance. His work and expertise has been featured in MarketWatch, Real Simple, Fox Business, VentureBeat, This Old House, Investopedia, Fatherly, Lifehacker, Better Homes & Garden, Property Casualty 360, and elsewhere.
Edited by
Jennifer GimbelJennifer GimbelSenior Managing Editor & Home Insurance ExpertJennifer Gimbel is a senior managing editor and home insurance expert at Policygenius, where she oversees our homeowners insurance coverage. Previously, she was the managing editor at Finder.com and a content strategist at Babble.com.
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Reviewed by
Fabio Faschi, PLCS, SBCS, CLCSFabio Faschi, PLCS, SBCS, CLCSLicensed Property & Casualty Insurance ExpertFabio Faschi is a licensed property and casualty insurance agent. His expertise on home and auto insurance has been featured on Forbes, Consumer Affairs, Realtor.com, Apartment Therapy, SFGATE, Bankrate, and Lifehacker.
Updated|7 min read
Expert reviewedExpert reviewedThis article has been reviewed by a member of ourFinancial Review Council to ensure all sources, statistics, and claims meet the highest standard for accurate and unbiased advice.Learn more about oureditorial review process.
Your home is likely your biggest investment and most expensive undertaking, so it’s important to protect it with the best homeowners insurance for your needs. While price is important, you’ll also want to consider a company that offers a mix of great coverage options, reliable customer service, and the financial stability to pay out expensive claims after a disaster.
After researching and reviewing over 60 companies on each of these factors, here are our picks for the best home insurance companies in 2023.
Auto-Owners Insurance is our top pick for best homeowners insurance company of 2023, scoring at or near the top for each of the four factors that make up the overall Policygenius rating: price, customer experience, coverage options, and financial strength.
We understand our top pick may not be the best for every home or circumstance, so we put together a list of the best homeowners insurance companies for a variety of different coverage considerations and needs.
Company
Best for
Policygenius rating
Average annual cost*
AM Best rating**
J.D. Power rating***
Auto-Owners Insurance
Overall
5.0 out of 5
$1,406
A++ (Superior)
825 out of 1,000
USAA
Military veterans
4.9 out of 5
$1,479
A++ (Superior)
884 out of 1,000****
State Farm
Widely available coverage
4.8 out of 5
$1,887
A++ (Superior)
829 out of 1,000
Amica
Customer service
4.6 out of 5
$1,756
A+ (Superior)
849 out of 1,000
Openly
High-value homes
4.6 out of 5
$1,125
A- (Excellent)
Not rated
American Family
Customizable policy options
4.5 out of 5
$1,692
A (Excellent)
842 out of 1,000
Erie
Comprehensive dwelling coverage
4.5 out of 5
$1,284
A+ (Superior)
827 out of 1,000
Farmers
Discounts and policy perks
4.5 out of 5
$1,845
A (Excellent)
792 out of 1,000
Nationwide
Easy claims filing
4.5 out of 5
$1,966
A+ (Superior)
816 out of 1,000
Allstate
Home sharing
4.4 out of 5
$1,650
A+ (Superior)
815 out of 1,000
Hippo
Smart home insurance
4.3 out of 5
$1,138
A- (Excellent)
Not rated
Neptune
Private flood insurance
Not rated
$749
A (Excellent)
Not rated
Collapse table
Average annual cost is based on 2022 sample homeowners insurance quotes for a home with $300,000 in dwelling coverage and a $1,000 deductible.
Methodology
How we chose the best homeowners insurance companies
To find the best home insurance companies, our team of licensed home insurance experts and operations specialists reviewed over 60 companies using an extensive rubric of criteria, including 2022 average annual premiums from Quadrant Information Services, AM Best ratings, customer complaint data, coverage options, and more. See our full homeowners insurance ratings methodology.
Why you can trust Policygenius
As an online insurance marketplace, Policygenius works closely with homeowners all over the U.S. to help them find a home insurance policy that suits their needs — without bias or favor toward any one company. We don’t get paid for our company reviews, and our ratings reflect the latest pricing data, financial ratings, third-party reviews, and policy options from each company. In addition to using reputable external sources, we also leverage a vast library of internal resources, data points, and insights from our own team of home insurance experts.
Our ratings and company reviews can point you toward an insurer that you can rely on to protect your home and livelihood, but the best homeowners insurance company is based on several different factors. A licensed agent at Policygenius can guide you through your home insurance quotes and help you get the right coverage at the best price.
Continue reading for a brief but detailed breakdown of each insurer and find out why it may be the best homeowners insurance company for you.
Best overall company
Auto-Owners Insurance
Policygenius rating
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
5.0
AM Best rating
A.M. Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A++
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
Bundle home & auto
Offers extended replacement cost
Offers flood insurance
Why we chose it
Auto-Owners Insurance is the highest rated homeowners insurance company in our analysis thanks to its mix of extensive policy and coverage options, high marks for financial strength and customer experience ratings, and affordable premiums.
Pros and cons
Pros
Affordable rates
Several additional coverage options
Up to 12 available discounts
Cons
Only available in 26 states
Not able to get quotes or file claims online
More details
Why Auto-Owners Insurance is our pick for best overall company
Auto-Owners Insurance is our pick for best overall home insurance company, scoring at least a 4 out of 5 for price, customer experience, coverage options, and financial strength, which earned it a perfect 5 out of 5 Policygenius rating.
With up to 23 policy endorsements — such as guaranteed replacement cost, inland flood coverage, and a comprehensive Homeowners Plus endorsement package — Auto-Owners offers excellent value for the coverage you're getting. And if you find your quoted premiums are higher than you'd prefer, you can take advantage of up to 12 Auto-Owners discounts to get your rates back down.
How much does Auto-Owners home insurance cost?
The national average cost of an Auto-Owners home insurance policy is $1,406 per year, according to sample quotes provided to us by Quadrant Information Services. This makes Auto-Owners Insurance about 26% cheaper than the national average.
State availability
Auto-Owners home insurance is available in the following 26 states:
Alabama, Arizona, Arkansas, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, North Carolina, North Dakota, Ohio, Pennsylvania, South Carolina, South Dakota, Tennessee, Utah, Virginia, and Wisconsin.
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
4.9
AM Best rating
A.M. Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A++
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
Bundle home & auto
Offers extended replacement cost
All 50 states
Why we chose it
USAA's robust coverages, high marks for customer service and claims satisfaction, and numerous policy perks for veterans make it the best home insurance company for members of the military and their families.
Pros and cons
Pros
Affordable rates
Over a dozen additional coverage options
Industry-best customer service and claims satisfaction ratings
Cons
Limited to people affiliated with the U.S. military
More details
Why USAA is our top pick for military veterans
USAA stands out for offering coverage solely to current members of the military, veterans, and their families. It’s consistently a top-rated home insurance company when it comes to claims satisfaction and customer service.
How much does USAA home insurance cost?
The national average cost of home insurance with USAA is $1,479 per year, according to sample quotes provided to Policygenius from Quadrant Information Services. This makes USAA about 22% cheaper than the national average.
State availability
USAA homeowners insurance is available in every U.S. state and Washington D.C.
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
4.8
AM Best rating
A.M. Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A++
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
Bundle home & auto
Offers extended replacement cost
All 50 states
Why we chose it
State Farm home insurance scores a near-perfect 4.8 out of 5 thanks to its slew of coverage add-ons, high marks on J.D. Power’s customer satisfaction surveys, and strong financial stability ratings.
Pros and cons
Pros
Covers homes in all 50 states, including Florida and California
Save up to $1,127 per year when you bundle your home and auto insurance
Excellent line-up of policy add-ons, including extended replacement cost coverage
Cons
20% more complaints filed with the NAIC than other companies of its size
More details
Why State Farm is our top pick for widely available coverage
At a time when several major insurance companies are no longer insuring homes in areas prone to wildfires or hurricanes, State Farm continues to offer its relatively affordable and highly rated home insurance to homeowners in every corner of the country. If you're struggling to find coverage and you're in a bind, State Farm may be able to help.
How much does State Farm home insurance cost?
The national average cost of home insurance with State Farm is $1,887 per year, according to sample quotes provided to Policygenius from Quadrant Information Services. This is on par with the national average of $1,899 per year.
State availability
State Farm offers home insurance policies in all 50 states and Washington, D.C.
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
4.6
AM Best rating
A.M. Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A++
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
Offers extended replacement cost
Bundle home & auto
Why we chose it
Amica remains the standard-bearer of customer satisfaction in residential property insurance, scoring highest in J.D. Power's customer experience survey in every year except one since 2002.
Pros and cons
Pros
Unique dividend policy option to earn up to 20% back on insurance premiums each year
Earned #1 ranking in J.D. Power’s claims and customer satisfaction surveys
Available everywhere except Hawaii and Alaska
Cons
Dividend policy isn’t available in high-risk states like Florida and California
More details
Why Amica is our top pick for customer service
Amica took home the top spot in J.D. Power’s 2022 Home Insurance Study, scoring a perfect 5 out of 5 in four key categories:
Coverage options
Clarity and accuracy of the billing process
Customer interactions
Claims experience
While Amica can be pricier in some states than its competitors, it may be worth the added expense when you consider the superior level of coverage and customer service you’re receiving.
How much does Amica home insurance cost?
The national average cost of home insurance with Amica is $1,756 per year, according to sample quotes provided to Policygenius from Quadrant Information Services. This is around 8% cheaper than the national average. However, your actual rates will vary based on your home's location, size, the amount of coverage in your policy, claims history, and other factors.
State availability
Amica offers home insurance policies in every state and Washington, D.C. except Alaska and Hawaii.
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
4.6
AM Best rating
A.M. Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A-
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
Offers extended replacement cost
Offers earthquake insurance
Why we chose it
Openly insures homes up to $5 million with its impressive lineup of customizable policy add-ons that come with high coverage limits — and the best part? Its rates are surprisingly affordable considering its high-net worth customer base.
Pros and cons
Pros
Offers up to $5 million in coverage for high-value homes
Robust lineup of policy add-ons with high limits to customize coverage to fit your needs
No restrictions on pools without fences or dangerous dog breeds
Cons
Only available in 21 states
Fewer home insurance discounts than competitors
Not included in J.D. Power’s customer satisfaction studies
More details
Why Openly is our top pick for high-value homes
Openly insurance is ideal for homeowners with high-value homes looking for a policy they can customize to fit their unique needs. It offers a long and extensive list of valuable coverage add-ons, including guaranteed replacement cost coverage for your home, scheduled personal property and blanket coverage for expensive belongings, earthquake protection, and loss assessment coverage with high limits if you live in an HOA community.
How much does Openly home insurance cost?
The national average cost of home insurance with Openly is $1,125 per year, according to sample quotes provided to Policygenius from Quadrant Information Services. This is around 50% cheaper than the national average. But keep in mind that your actual rates will vary based on your location, your home's size, the amount of coverage in your policy, claims history, and other factors.
State availability
Openly offers home insurance policies in the following 21 states:
Alabama, Arizona, Georgia, Illinois, Indiana, Kansas, Kentucky, Maine, Massachusetts, Mississippi, Missouri, New Hampshire, New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Utah, and Wisconsin.
Openly has plans to expand coverage to Connecticut and Virginia in 2023.
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
4.5
AM Best rating
A.M. Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
Offers extended replacement cost
Offers flood insurance
Bundle home & auto
Why we chose it
American Family home insurance has industry-best coverage options, high customer service ratings, and several discounts to compliment its already affordable rates, making it a great option in the 19 states where it’s available.
Pros and cons
Pros
Affordable rates and 11 available discounts
Ranked #2 in J.D. Power’s 2022 U.S. Home Insurance Study
Diminishing deductible feature to lower out-of-pocket claim costs
Cons
Only available in 19 states
Offers online quotes, but requires talking to an agent to complete the process
More details
Why American Family is our top pick for customizable policy options
When it comes to both the breadth and quality of home insurance policy options, there are few companies in the same league as American Family. Choose from three comprehensive policy tiers with various levels of protection, or customize a policy to your liking with up to 15 additional coverage options, including inland flood, equipment breakdown, and service line coverage.
While it only writes homeowners insurance in 19 states, American Family is the seventh largest home insurer in the United States — which indicates it’s a popular option in the places it operates.
How much does American Family home insurance cost?
The national average cost of home insurance with American Family is $1,692 per year, according to sample quotes provided to Policygenius from Quadrant Information Services. This makes American Family about 13% cheaper than the national average. e amount of coverage in your policy, claims history, and other factors.
State availability
American Family offers home insurance policies in the following 19 states:
Arizona, Colorado, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Minnesota, Missouri, Nebraska, Nevada, North Dakota, Ohio, Oregon, South Dakota, Utah, Washington, and Wisconsin.
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
4.5
AM Best rating
A.M. Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A+
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
Offers extended replacement cost
Offers flood insurance
Bundle home & auto
Why we chose it
Erie home insurance policies are among the most robust of any company in our analysis. A basic Erie policy comes with coverages that typically cost extra with other insurers, such as guaranteed replacement cost and lost or misplaced items coverage.
Pros and cons
Pros
Cheap rates
Guaranteed replacement cost comes standard on Erie policies
Excellent customer service and claims satisfaction ratings
Cons
Only available in 12 states
Just three available discounts
Can’t get quotes or file claims online
More details
Why Erie is our top pick for comprehensive dwelling coverage
Erie features the most comprehensive basic homeowners insurance policy of any company in our study, including guaranteed replacement cost coverage protection that covers any replacement amount in the event of a disaster. That means if your house is destroyed and construction costs suddenly spike due to high demand or inflation and your coverage limits aren’t high enough to cover the costs, Erie will reimburse you the full rebuild amount anyway.
How much does Erie home insurance cost?
The national average cost of home insurance with Erie is $1,284 per year, according to sample quotes provided to Policygenius from Quadrant Information Services. This makes Erie about 33% cheaper than the national average. However, your own rates will depend on your home’s location and how much coverage you need.
State availability
Erie offers home insurance policies in the following 12 states and Washington, D.C.:
Illinois, Indiana, Kentucky, Maryland, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, and West Virginia.
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
4.5
AM Best rating
A.M. Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
Offers extended replacement cost
Bundle home & auto
Smart home discounts
Why we chose it
Along with saving around 20% when you bundle your home and car insurance, Farmers also gives you access to its extensive suite of discounts, unique policy credits, and claim-free incentives that help put money back in your pocket.
Pros and cons
Pros
12+ discounts to save on rates
Extended and guaranteed replacement cost for your home
Shave $50 off your deductible each year you’re with Farmers
Cons
Below-average scores on J.D. Power’s overall customer satisfaction and digital experience surveys
More details
Why Farmers is our top pick for discounts and policy perks
Farmers offers over a dozen discount opportunities and several policy perks, including a declining deductibles feature that trims $50 off your deductible each year you're a Farmers customer — making it the best company for those looking for long-term policy savings. Depending on your state of residence, you can save up to 45% on your auto insurance, and up to 34% on home insurance when you bundle policies, according to Farmers.
How much does Farmers home insurance cost?
The national average cost of home insurance with Farmers $1,845 per year, according to sample quotes provided to Policygenius from Quadrant Information Services. This is on par with the national average of $1,899 per year.
State availability
Farmers offers home insurance policies in the following 41 states:
Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, and Wyoming.
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
4.5
AM Best rating
A.M. Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A+
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
Offers extended replacement cost
Bundle home & auto
Offers earthquake insurance
Why we chose it
Nationwide home insurance features a slew of comprehensive coverage options. It also received high marks for claims satisfaction with J.D. Power, indicating you can rely on Nationwide when it matters most.
Pros and cons
Pros
Multiple high-quality coverage options
Highly rated for claims satisfaction with J.D. Power
Available in most states
Cons
Below-average customer satisfaction and digital experience ratings
Won’t cover Airbnbs or other short-term rentals
More details
Why Nationwide is our top pick for hassle-free claims
Nationwide earned a top five ranking in J.D. Power's 2022 Claims Satisfaction Study, scoring well in five key categories:
Settlement process
Claim servicing
Final notice of loss
Estimation process
Repair process
Nationwide's home insurance claim process is strikingly transparent and easy to follow. Once you file your claim, you'll be assigned a claims associate to help you through the process. You'll then be provided an estimate and settled either over the phone or in person, and Nationwide can even find you a contractor via its property repairs network.
How much does Nationwide home insurance cost?
The national average cost of home insurance with Nationwide $1,966 per year, according to sample quotes provided to Policygenius from Quadrant Information Services. This is on par with the national average of $1,899 per year.
State availability
Nationwide offers home insurance policies in the following 43 states and Washington, D.C.:
Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, New Hampshire, Nebraska, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
4.4
AM Best rating
A.M. Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A+
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
Bundle home & auto
Smart home discounts
All 50 states
Why we chose it
Whether you’re looking for bare-bones coverage on the cheap or a more comprehensive policy package with additional coverages and features like short-term rental coverage and deductible rewards, you’ll likely be able to find it with Allstate.
Pros and cons
Pros
High-quality and flexible policy options
Numerous discounts and features that help you save
Below-average customer complaints
Cons
Below-average digital experience rating with J.D. Power
More details
Why Allstate is our top pick for home sharing
If you rent out your property through a short-term rental service like Airbnb and a guest destroys or steals your property, Allstate’s HostAdvantage will pay up to $10,000 per rental host period to replace or repair your property. And the best part? This coverage can be added directly onto your home insurance policy for a small additional fee.
How much does Allstate home insurance cost?
The national average cost of home insurance with Allstate $1,650 per year, according to sample quotes provided to Policygenius from Quadrant Information Services. This makes Allstate about 13% cheaper than the national average.
State availability
Allstate offers home insurance policies in all 50 states and Washington, D.C.
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
4.3
AM Best rating
A.M. Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A-
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
Smart home discounts
Offers extended replacement cost
Usage-based discount
New homebuyer discount
Why we chose it
Hippo's philosophy is simple: the best way to keep costs down is to prevent problems before they start. If you're interested in smart home tech or ways to keep maintenance costs down, consider Hippo for its array of tech-friendly discounts and programs.
Pros and cons
Pros
Affordable rates
Several tech-friendly discounts and incentives
Complimentary home maintenance service
Cons
Not able to file claims online
Lack of industry reputation
Tech-forward approach may not appeal to everybody
More details
Why Hippo is our top pick for smart home insurance
Insurance premiums are, to a certain degree, based on what we don't know and the risk that comes with that uncertainty. Installing home security systems and other protective devices is one of the most effective ways to reduce this uncertainty and save money on homeowners insurance, and no company emphasizes this more than Hippo. Not only will Hippo discount your rates up to 25% if you have security cameras or other connected devices installed in your house — but it actually includes its own smart home monitoring kit with each policy.
The national average cost of home insurance with Hippo $1,138 per year, according to sample quotes provided to Policygenius from Quadrant Information Services. This makes Hippo about 40% cheaper than the national average.
State availability
Hippo homeowners insurance is available in the following 39 states and Washington, D.C.:
Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Georgia, Illinois, Indiana, Kansas, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, and Wisconsin.
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
5.0
AM Best rating
A.M. Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
Offers flood insurance
Why we chose it
If you live in a flood-prone area and you're interested in comprehensive flood insurance coverage with a short waiting period, look no further than Neptune flood insurance.
Up to $10,000 in coverage for belongings in your basement
Cons
Possibly more difficult to obtain Neptune coverage compared to the NFIP
You'll likely pay more for Neptune flood insurance compared to the NFIP
More details
Why Neptune is our top private flood insurance pick
Most homeowners insurance policies won't cover flooding, which is why most homeowners turn to the National Flood Insurance Program to purchase coverage. However, the NFIP limits how much flood insurance coverage you can purchase (up to $250,000 in building coverage, $100,000 in contents coverage). And if you need your policy right away — well tough luck, you'll have to wait 30 days before your coverage is active.
Alternatively, Neptune’s private flood insurance option offers higher coverage limits, more comprehensive protection for possessions, and a maximum waiting period of 10 days. Unlike many of its private flood insurance competitors, Neptune writes policies in most areas of the country.
How much does Neptune flood insurance cost?
The national average cost of flood insurance with Neptune is $749 per year, according to policy data that Policygenius obtained from the National Association of Insurance Commissioners. This is on part with what homeowners pay for flood insurance through the NFIP.
State availability
Neptune offers flood insurance policies in every state and Washington, D.C. except Alaska, Arkansas, Idaho, Illinois, Kentucky, Louisiana, Montana, North Dakota, South Dakota, Utah, Vermont, and Wyoming.
Still not sure which company is right for you? Let Policygenius do the work for you. Our team of homeowners insurance experts will compare policies and let you know which company offers you the most bang for your buck.
Of the country's 15 largest insurers, Erie offers the best rates on homeowners insurance at $1,284 per year, according to our analysis of sample quotes in every state and ZIP code for a home with $300,000 in dwelling coverage.
If Erie home insurance isn't available where you live, consider the other affordable and top-rated companies below, including Narragansett Bay, Auto-Owners Insurance, USAA, and Homesite.
Based on 2022 sample homeowners insurance quotes from Quadrant Information Services for a home with $300,000 in dwelling coverage and a $1,000 deductible.
Best insurance companies for home and auto in 2023
Most major insurance providers offer significant savings when you bundle your home and auto insurance or purchase multiple types of insurance. On average, customers can save anywhere from 5% to 30% on home insurance premiums alone, according to our analysis of Quadrant Information Services bundling data.
Here are the best insurance companies for home and auto bundles, according to our 2023 analysis.
While purchasing homeowners insurance may seem overwhelming, comparing home insurance companies is a great way to ensure you’re selecting a company and policy that suits your needs.
In this section, we break down what homeowners insurance is, how much it costs, how to choose the best home insurance for you, and the highest rated and cheapest homeowners insurance companies in each state.
Scroll down or click on the links to jump further down the page.
Homeowners insurance is a financial safety net for your home, protecting your home and belongings from covered losses such as a fire or theft. It also shields your assets from expensive litigation in the event someone is injured on your property and you're ruled legally responsible.
Without homeowners insurance, if your house is damaged by a covered peril or you’re liable for someone’s legal or medical expenses, you’ll be left covering these costs out of pocket. For that reason, we recommend purchasing enough homeowners insurance to cover the full replacement cost of the home; and enough liability protection to cover the total value of your assets.
A standard homeowners insurance policy includes six coverages:
Dwelling coverage: Pays to repair or rebuild your home and attached structures — like an attached garage — if it’s damaged by a covered peril, like a burst pipe.
Other structures coverage:Pays to repair or rebuild other structures on your property — like a shed or detached garage — if they’re damaged by a covered peril.
Personal property coverage: Pays to repair or replace your belongings if they’re stolen or damaged by a covered peril.
Loss of use coverage: Pays for additional living expenses — like hotel stays, restaurant meals, and gas — if you need to temporarily live elsewhere while your home is being repaired.
Personal liability coverage: Pays for someone else’s medical expenses or property damages if you’re legally responsible — like if your dog attacks a guest. Also pays for your legal fees if the injured party takes you to court over the matter.
Medical payments coverage: Pays for more minor medical expenses if a guest is injured at your home — like an ambulance ride or an X-ray — regardless of who’s at fault.
What does homeowners insurance not cover?
There are certain types of loss excluded from home insurance coverage. You may be able to add additional coverages, called endorsements, to your policy for a fee to cover these excluded types of loss. Or you may have the option of purchasing a separate insurance policy, like flood insurance.
Here are some common home insurance exclusions:
Flooding: Home insurance never covers damage caused by flooding, but some insurers may offer endorsements that you can add to your policy. You can also buy a separate flood insurance policy through the National Flood Insurance Program, a FEMA-backed organization, or on the private marketplace.
Earthquakes: Homeowners insurance excludes coverage for earthquakes. If you live in an area that is at risk for quake damage, consider adding earthquake protection to your homeowners policy or purchasing separate earthquake insurance.
Maintenance issues: Homeowners insurance is designed to cover sudden, accidental damage. If your roof is damaged due to maintenance issues like general wear and tear or gradual damage over time, you won’t be covered.
Pest damage: Pest infestations take time to occur, so home insurance likely won’t cover you if termites or bed bugs infest your home.
Sump pump and water backups: Home insurance excludes coverage for damage caused by drainage, sump pump, and water backups. However, most major insurers offer water backup coverage that you can add to your policy for an additional fee.
There are up to eight different kinds of homeowners insurance for various property types and coverage needs. But in most cases, if you own your home and you live there most of the year, you'll need one of the following policy types.
HO-3 – Special Form: An HO-3 policy is the most common form of homeowners insurance. It’s designed for standard homes and contains all of the coverages described above: dwelling, other structures, personal property, loss of use, personal liability, and medical expenses coverages.
HO-5 – Comprehensive Form: An HO-5 comprehensive form policy is just what it sounds like — it offers the most complete protection for single-family homes. An HO-5 is nearly identical to the HO-3, but with more comprehensive coverage for personal belongings.
HO-6 – Unit Owners Form: Also known as condo insurance, HO-6 policies are designed for people who own a condominium or live in a co-op. The amount of condo insurance you need will depend on your condo association’s HOA insurance.
Not all home insurance companies are created equal. Follow these steps to compare your options and find a policy that’s a perfect fit for your coverage needs at the best home insurance rates.
How to find the best homeowners insurance company for you
Determine your coverage needs
Compare home insurance quotes from a few companies
Research companies’ financial & customer satisfaction ratings
Check for home insurance discounts
1. Determine your coverage needs
Standard home insurance policies cover the structure of your home and detached structures, temporary living expenses after a disaster, and medical and legal expenses if you’re held liable for an injury on your property.
Your dwelling coverage amount should be equal to your home’s replacement cost, or the cost to rebuild after a total loss. This amount is determined by factors such as your home’s square footage and local construction costs — not the home’s market value or remaining mortgage amount.
You’ll also want to factor in any high-value belongings that you own — such as a jewelry collection, rare artwork, or expensive electronics — when setting your personal property coverage amounts. Depending on the quantity or value of the belongings you own, you may want to consider replacement cost personal property coverage or a personal articles floater for your policy.
2. Compare home insurance quotes from a few companies
You know what you care about in a company and how much coverage you need. Now it’s time to shop around. We recommend comparing quotes from at least three different companies to help you find the cheapest policy you qualify for.
Our homeowners insurance experts at Policygenius can do all of the work for you — you simply need to enter some basic information about yourself and your home to get online quotes in just minutes.
When comparing costs, keep in mind that the average homeowner spends roughly $1,899 per year on homeowners insurance. But how much you pay will vary, as no two houses and homeowners are exactly the same.
You’ll also want to keep in mind that your quoted premium is just an estimate and might change after your home is inspected, your credit is checked, and discounts are applied to your policy.
3. Research companies’ financial & customer satisfaction ratings
Once you have your quotes, check the customer service and complaints ratings for each company.
You can do this by reading our detailed reviews of popular home insurance companies. In these, you’ll find each company’s J.D. Power rating, which is based on feedback from customer satisfaction surveys of over 10,000 homeowners and renters annually.
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4. Check for home insurance discounts
Dig into what discounts are available through each of the companies you received quotes from to maximize your savings.
You might be able to score a discount for bundling your home and auto policies, buying a new home, going years with no claims, paying your premiums in full for the year, installing safety devices through your home, and more.
No one company offers all of the same discount opportunities, so do your research to find the one that helps you score the best homeowners insurance rates for your coverage needs.
Homeowners insurance costs an average of $1,899 per year, according to our analysis of home insurance rates provided by Quadrant Information Services.
That said, homeowners insurance premiums can vary greatly depending on your state, city, or even ZIP code. You’ll find that states with more severe weather and natural disasters — like Florida, Texas, and Oklahoma — have higher homeowners insurance rates than states with more mild weather.
As of 2023, Hawaii residents have the cheapest average annual premiums, while Oklahoma residents pay the most, according to our latest analysis. Find the best and cheapest home insurance companies in your state.
Best & cheapest homeowners insurance companies by state
That’s why now, more than ever, it pays to compare home insurance quotes from at least 3 companies to ensure you’re getting the best possible coverage at the lowest possible price.
Policygenius can help you do this. From sending you multiple quotes to handling all of the paperwork for you, we can help you save on home insurance and get the best home insurance rate when everyone else is paying more. And the proof is in the numbers: Our customers save an average of 30% on their homeowners insurance when shopping through us.
Most homeowners insurance companies will discount your premiums if you take steps to make your home safer or if you go a certain number of years without filing a claim. So whether your homeowners insurance rate skyrocketed recently or you’re interested in taking proactive steps to keep costs down, make sure to ask your insurance agent about these three widely available discounts.
Multi-policy: Most major and regional homeowners insurance providers offer multi-policy discounts if you combine your home and auto insurance into a single policy package, or bundle.
Claims-free: If you go a certain number of years without filing a claim, your insurance company may reward you with a generous discount. If you haven’t filed a claim in over five years and you don’t see this discount on your policy’s declarations page, be sure to contact your provider to let them know.
Protective devices: Your insurance company will also reward you with savings if you take steps to protect your home against everything from burglary to extreme weather. Consider installing a security system or weather-proof features like storm shutters to save on coverage.
Survey the damage and file a police report if needed. If your home was broken into or vandalized, you’ll need to file a police report in order to file a claim.
Contact your insurance company right away. You can do this via phone, email, online, or through a mobile app depending on your home insurance company.
Document the damage. It’s a good idea to take photos of the damage and even videos to provide proof when you file your claim.
Make temporary repairs. If your home is water damaged, for example, find the source to prevent further damage to your things.
Meet with the insurance adjuster and consider hiring a contractor. Once you file a claim, your insurance company will likely send out an adjuster to survey the damage and come up with an estimate of repair costs. You can also hire your own licensed contractor if you’d like a second opinion or think the insurance adjuster’s estimate is too low.
Receive a claim payout for repairs or to buy new things. Once your claim is submitted and approved, your insurance company will send a claim payment to you or your contractor to make repairs or replace damaged items.
How your home insurance claim is paid
The amount your homeowners insurance company reimburses you after a claim will depend on whether you have actual cash value or replacement cost coverage.
Actual cash value home insurance policies reimburse you for the depreciated value of your stolen or damaged property. That means if your 5-year-old TV is stolen, you'll be reimbursed for the value of a new TV minus five years of wear and tear or depreciation.
Replacement cost value home insurance policies reimburse you for the value of whatever was damaged or stolen without deducting for depreciation. That means if that same TV was stolen and you had a replacement cost policy, your claim payment would be the value of a new TV.
While homeowners insurance isn't required by law, most mortgage lenders will require you to purchase a policy before extending you a home loan. But even if your lender doesn't have strict insurance requirements or your house is fully paid off, you'll want to keep your home insured anyway. Homeowners insurance covers everything from house fires to break-ins to burst pipes, giving you both peace of mind and a financial security blanket against losses both large and small. If your house is unexpectedly damaged and you don't have homeowners insurance, you'll be left paying for it out of your own pocket.
Which home insurance company has the highest customer satisfaction?
USAA and Amica have the highest customer satisfaction ratings of any home insurance company in our analysis. Amica was the highest ranked company in J.D. Power's 2021 customer satisfaction study. But Amica isn't just a one-hit wonder — in fact, this was the 19th time in the last 20 years that Amica has placed first in customer satisfaction.
To add to its accolades, Amica also placed first in J.D. Power's 2022 property claims satisfaction study, earning the top spot for claims handling for the 10th time in 11 years. While USAA had the highest overall score in both studies, it isn't officially eligible for a ranking since it doesn't meet the study's criteria.
Which company has the cheapest homeowners insurance?
Erie has the cheapest homeowners insurance of any company in our analysis thanks to its $1,284 average annual premium. However, the cheapest company for you will depend on factors like your deductible, coverage amount, add-ons, discounts you qualify for, and more.
Which insurance company is best for high-value homes?
The best overall homeowners insurance company is Auto-Owners Insurance, according to Policygenius' analysis. However, the company that’s best for you will depend on your specific situation and coverage needs.
Who is the best insurance company for home and auto?
Policygenius rated Auto-Owners Insurance as the best insurer for home and auto bundles thanks to its low rates, slew of home and auto insurance discounts, and top-rated customer service. The average shopper saves around 12% on their home and auto insurance cost when they bundle their policies with Auto-Owners.
Policygenius prides itself on providing transparent, unbiased reviews of home insurance companies. Though we make money when you purchase a policy through our site, this does not affect our editorial independence and rigorous editorial standards.
References
Policygenius uses external sources, including government data, industry studies, and reputable news organizations to supplement proprietary marketplace data and internal expertise. Learn more about how we use and vet external sources as part of oureditorial standards.
Pat Howard is a managing editor and licensed home insurance expert at Policygenius, where he specializes in homeowners insurance. His work and expertise has been featured in MarketWatch, Real Simple, Fox Business, VentureBeat, This Old House, Investopedia, Fatherly, Lifehacker, Better Homes & Garden, Property Casualty 360, and elsewhere.
Jennifer Gimbel is a senior managing editor and home insurance expert at Policygenius, where she oversees our homeowners insurance coverage. Previously, she was the managing editor at Finder.com and a content strategist at Babble.com.
Fabio Faschi is a licensed property and casualty insurance agent. His expertise on home and auto insurance has been featured on Forbes, Consumer Affairs, Realtor.com, Apartment Therapy, SFGATE, Bankrate, and Lifehacker.
