The Best Homeowners Insurance Companies
The best homeowners insurance companies in terms of reviews are USAA Homeowners Insurance and Amica Mutual Homeowners Insurance. Unfortunately, not everyone will qualify for a policy with these two companies. That makes State Farm Homeowners Insurance, the largest homeowners insurance provider in the US, one of the best homeowners insurance companies.
Amica homeowners insurance company has topped J.D Power and Associates list of favorite homeowners insurance companies for nine consecutive years. In another customer survey, it has held the top position for 30 years. One reason that has pushed Amica to the top of the best homeowners insurance companies list is its consistency in settling claims. Customers have not reported any problems with their payouts and claim settlements. J.D Power and Associates gives the company top scores for good prices, billing and communication. The only weakness for this company is its strict approval process. A lot of people with high credit scores still cannot quality for a policy with Amico insurers.
United Services Automobile Association (USSA), which caters exclusively to military families, ties for first position in customer surveys with Amico. The company takes top position for financial stability, garnering top grades across all five ratings agencies. Only current and ex military personnel and their families are eligible for USSA homeowners insurance.
Your third option for a homeowners insurer would be State Farm. The company has the topmost overall score among the best homeowners insurance companies. It has sound financial strength and is ranked second by Standard & Poor’s, A.M Best, Weiss and Fitch Ratings. A strong financial rating means the company is likely to stay in business for a long period of time and is one of the factors to consider when choosing a provider. The best homeowners insurance companies have very strong scores for financial stability, often close to if not ranked A+.
J.D Power and Associates advises that service is very important when choosing a homeowners insurance provider. They discourage you from using price alone as a guide to finding the best homeowners insurance companies.
Compare policies before buying to ensure that you get the best in both price and service. When doing your comparison, ensure that the policies have similar types of cover.
Another way to find the best home insurance companies is by asking family, friends and workmates if they could recommend their homeowners insurance provider. If they are happy with their current provider, they will gladly encourage you to use their services. This referral method is also a great way of finding out whether an insurer only limits some services to specific regions.
Before choosing an insurance provider, whether national or regional, consider their financial stability. The best homeowners insurance companies are strong enough to face hard times and will still pay settlements even when hit by a financial disaster.