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The Best Homeowners Insurance Companies

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Cara Pace
October 8, 2020

Homeowners are more likely to renew their home insurance policy with a carrier if they provide great customer service, according to a recent J.D. Power study. More than two-thirds (67%) of those who selected a carrier based on having a good service experience said they will “definitely” renew with their insurer. 

Having a good reputation (64%) and convenience (64%) followed as the top reasons for homeowners sticking with their insurance carrier.  

With a score of 855 (out of 1,000 points), COUNTRY Financial took the top spot for customer satisfaction in the homeowners insurance segment. COUNTRY Financial offers a variety of insurance products throughout 19 states. 

Amica Mutual came in second place(853) followed by Auto-Owners Insurance (843).

When it comes to millennials, 38% of those surveyed said they chose their homeowners insurance company based on the service they experienced. They’re also more likely to be engaged thanks to using insurer-provided tools for things like taking inventory of their possessions. More engagement means more opportunities for an insurer to provide good customer service.  

Customer satisfaction was determined by examining the carriers in five areas: interaction, policy offerings, billing process and policy information, price and claims.

Homeowners insurance

Here are the best homeowners insurance companies based on overall customer satisfaction ratings, according to the J.D. Power 2020 U.S. Home Insurance Study.

  • COUNTRY Financial
  • Amica Mutual
  • Auto-Owners Insurance
  • Erie Insurance
  • The Hartford
  • Allstate
  • State Farm
  • CSAA Insurance Group
  • MetLife
  • Segment Average
  • American Family
  • Auto Club of Southern Ca. Insurance Group
  • Farmers
  • AIG
  • Nationwide
  • Liberty Mutual
  • Travelers
  • Safeco
  • ASI Progressive
  • Chubb
  • Homesite
  • UPC Insurance
  • National General

>>Get a homeowners insurance quote

Rating homeowners insurance companies

In addition to J.D. Power surveys that provide data on insurance companies, other independent sites also rate insurance companies. 

AM Best rates insurers on their creditworthiness, which is their ability to pay claims, debts and other financial obligations in a timely manner. AM Best rates over 16,000 insurance companies worldwide. Other sites that rate insurance companies based on their financial stability include: Moody’s, Fitch Ratings, and Standard & Poor’s. 

The Better Business Bureau is another site to find ratings and reviews on homeowners insurance companies. A company’s BBB rating represents how the business is likely to interact with its customers. Their ratings are heavily influenced by complaints received from the public.  

If you’re a member of Consumer Reports, you can find homeowners insurance company ratings based on customer satisfaction with their claims handling.   

No 2 homes are alike

There are several factors that go into determining your homeowners insurance rate. Insurance companies are trying to calculate the exposure to risk for insuring your specific home. No two homes are alike, which means you could have a very different rate than your next door neighbor.

Here are the most common home factors that affect the cost of homeowners insurance. 

  • Size (square footage) and layout
  • Current condition, including age
  • External risk factors such as a pool or trampoline
  • Home security features
  • Type of building materials used
  • Roof type
  • Property location
  • Proximity to fire safeguards, such as a fire hydrant or fire station

In addition, things like your claims history, credit score and the deductible amounts you choose will determine how much you pay for homeowners insurance. 

Comparing homeowners insurance

Finding the right homeowners insurance is important. In addition to finding a company that provides great customer service, you want an affordable policy that provides the most coverage possible. You can switch your homeowners insurance anytime if you aren’t happy with your current carrier.

If you’re shopping for homeowners insurance, consider annual cost, discounts applied to the policy, valuation type, reputation, financial stability and customer service.