Best Home Insurance Companies for 2020

Best Home Insurance Companies for 2020. Home insurance shouldn’t be a buy and forget policy. Rebuilding costs change over time as likely does your interior as its updated. These changes affect how much home insurance you should carry. Homeowners, condo owners and even renters should check over their policy at least once a year and shop around to make sure their policy and price are the best for their needs and wallet. For that reason, our team of experts have built an annual survey to find get authentic feedback and reviews from current home/condo/renters policyholders and help you in your search for the best home insurance company. Home insurance company ratings.

Country Financial 

Company name: COUNTRY Financial
Founded in: 1925
Number of customers/policies: Over $3.5 billion in revenues
Awards and rankings:

  • ‘A+’ financial rating from A.M. Best
  • Fortune 1000 company

Product highlights: Country Financial sells homeowners policies with basic coverage (for major catastrophes like fire, theft and the like), premier coverage (which adds in coverage for things like spilled paint and countertop burns) and combination coverage (which provides basic coverage on belongings and premier coverage on the home itself).

Available discounts: Country Financial offers multi-product, safe heating system, and home alarm system discounts on home insurance policies, among others.

USAA – Home insurance company ratings

Company name: United Services Automobile Association
Founded in: 1922
Number of customers/policies: 11.9 million members
Awards and rankings:

  • ‘A++’ financial rating from A.M. Best
  • Fortune 500 company
  • #20 on Fortune’s World’s Most Admired Companies® 2018 list

Product highlights: USAA is a financial services provider that accepts members only from military and ex-military households (widows, spouses and other family members of USAA members can also join). Many of the company’s benefits are geared towards military personnel, such as uniforms coverage for active duty or deployed members.

Available discounts: USAA offers loyalty, multi-product and home construction material discounts, among others.

 

Allstate – Home insurance company ratings

Insurify Composite Score: 92

Company name: Allstate Insurance Company
Founded in: 1931
Number of customers/policies: 16 million households
Awards and rankings:

  • ‘A+’ financial rating from A.M. Best
  • 2018 World’s Most Ethical Companies Honoree, Ethisphere Institute

Product highlights: Allstate has homeowners, condo, landlord, renters and mobile home insurance policies. Specific coverage options vary by state—for example, California homeowners can get a separate earthquake insurance policy attached to their basic homeowners policy.

Available discounts: Allstate offers new home, claim-free, and multi-product discounts, among others.

 

Shelter Insurance

Company name: Shelter Insurance
Founded in: 1946
Number of customers/policies: 2.1 million policies
Awards and rankings:

  • ‘A+’ financial rating from A.M. Best
  • Member of Business Insurance magazine’s “2017 Best Places to Work” list

Product highlights: Shelter Insurance offers both homeowners insurance and what it calls “dwelling insurance,” which provides basic, cash-value coverage for your home and belongings. The company also has policies for mobile homes, apartment buildings, and condos.

Available discounts: Shelter Insurance offers new home, claim-free, and alarm system discounts, among others.

Amica – Best Home Insurance Companies for 2020

Company name: Amica Mutual Insurance Company
Founded in: 1907
Number of customers/policies: 1.6 million policies
Awards and rankings:

  • ‘A+’ financial rating from A.M. Best
  • Member of Providence Business News’ 2018 Best Places to Work list

Product highlights: Amica has three different levels of home insurance coverage: standard (which includes structure, property and detached structure coverage); extended (which lets you tack on additional coverage such as home business or valuable items coverage); and premier (with even more options, including credit card and computer coverage).

Available discounts: Amica offers alarm system, loyalty, and multi-product discounts, among others.

 

Chubb

Company name: Chubb Limited
Founded in: 1882
Number of customers/policies: $36 billion in premiums
Awards and rankings:

  • ‘A++’ financial rating from A.M. Best
  • Most Preferred Insurer on 2017 Advisen Claims Satisfaction Survey Report

Product highlights: Chubb has homeowners, renters, and condo insurance policies. It also provides extra coverage options, such as equipment breakdown and flood insurance policies. Chubb has a HomeScan program, which sends a thermographer with an infrared camera to scan your home for potential issues.

Available discounts: Chubb offers multi-product, alarm system, and fire protection discounts, among others.

 

American Family – Best Home Insurance Companies for 2020

Company name: American Family Insurance
Founded in: 1927
Number of customers/policies: 10.2 million policies
Awards and rankings:

  • ‘A’ financial rating from A.M. Best
  • Fortune 500 company

Product highlights: American Family has homeowners, renters, mobile home, and condo insurance policies. You can also add coverage for home businesses, sewer back-ups, and identity theft, and other potential problems not included in the basic policy.

Available discounts: American Family offers multi-product, renovated home, and alarm system discounts, among others.

 

Liberty Mutual

Company name: Liberty Mutual Insurance
Founded in: 1912
Number of customers/policies: $5.87 billion in premiums
Awards and rankings:

  • ‘A’ financial rating from A.M. Best
  • Fortune 100 company

Product highlights: Liberty Mutual has homeowners, renters, landlord, mobile home, and condo insurance policies. The standard home insurance policy includes structure, personal property, liability, and living expense coverage (meaning the cost of living elsewhere while repairs are made). You can also buy extra coverage options such as valuables coverage and inflation protection.

Available discounts: Liberty Mutual offers multi-product, new home, and claims-free discounts, among others.

Best Homeowners Insurance Companies of 2020

 

Auto Owners – Best Home Insurance Companies for 2020

Company name: Auto-Owners Insurance Group
Founded in: 1916
Number of customers/policies: 2.7 million policyholders
Awards and rankings:

  • ‘A++’ financial rating from A.M. Best
  • Fortune 500 company

Product highlights: Auto-Owners has homeowners, condo, renters, and mobile home insurance policies. It works solely through independent agents, arguing that this ensures a local, friendly face will be there to help out in case a customer needs to file a claim.

Available discounts: Auto-Owners offers multi-product, good payment history, and protective devices discounts, among others.

 

State Farm – Best Home Insurance Companies for 2020

Company name: State Farm
Founded in: 1922
Number of customers/policies: 83.4 million policies
Awards and rankings:

  • ‘A++’ financial rating from A.M. Best
  • Member of 2018 Fortune Magazine’s Most Admired Company list

Product highlights: State Farm sells homeowners policies as well as condo unit and renter’s insurance. It’s possible to apply and file claims online through the company’s website; State Farm also has local agents in brick-and-mortar offices.

Available discounts: State Farm offers multi-product, home alert, and roofing discounts, among others.

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