Home insurance is a safety net for homeowners and lenders, given that it helps cover costs in case disaster strikes. Add-on features vary depending on your area and chosen plan, but all base plans offer the same coverage.
Some lenders also give customers the option to add coverage to a basic plan at attractive prices. Here are the pros and cons of the best home insurance providers available today
Allstate
Pros
Eight different discounts available for eligible customers
Option of bundling auto and home policies
Access to insurance management tools through a user-friendly website
Cons
Few coverage options apart from basic offerings
Not known for scoring high in claims satisfaction
Hippo
Pros
Speedy quotes (under 60 seconds) through the insurer’s website
Access to a range of policies and coverage options
Basic policies have additional coverage included
Cons
Policies limited to 20 states
Only physical claims accepted
State Farm
Pros
Easy-to-navigate website
Access to educational resources online
Simple quote and applications process
Mobile app for managing policy payments and claims
Robust financial ratings
Cons
Few money-saving options
USAA
Pros
Ideal for military families
Very strong financial rating
Millions of satisfied customers
Coverage includes uniform replacement expenses
Access to multiple discounts on payments
Cons
Availability limited to military personnel and their families
No options for extending coverage for dwelling improvements
Travelers
Pros
Cover includes repair, replacement, and rebuilding with green materials
Choice of multiple policies
Access to discounts and saving options
Wide range of enhanced coverage options
Cons
Low claims satisfaction ratings
Customer service ratings lower than competitors
Safeco
Pros
Replacement costs, including total rebuilds guaranteed
Wide range of coverage options
Hassle-free claims process
Cons
Does not offer a variety of savings options
Substantial negative ratings for customer service
Amica
Pros
Consistent performance in customer satisfaction
Streamlined and easy claims process
Access to a dividend program
Expansive coverage network
Covers replacement costs for personal belongings
Cons
More expensive than competitors
Additional cover limited to certain states
Now that you know the advantages and limitations of the country’s top insurers, choosing homeowner’s insurance won’t be a challenge. As coverage and inclusions vary from state to state, speaking with your home insurance agent can help you find excellent coverage for your home and its belongings.