Homeowners insurance is a must-have. Yet many people choose a homeowners insurance policy when they buy a home and then don’t think about it too much after that. This is unfortunate because there are a number of circumstances and life changes that could make it a good idea to rethink what your home insurance needs are, and possibly change your homeowners insurance company.
Our homes are the most expensive things most of us will ever own, so it stands to reason we should protect them. That’s where homeowners insurance comes in. With home insurance, if you ever experience a burglary, fire, hurricane, or some other disaster, you can rest assured that any damage to your home and possessions – along with your garage, backyard fence, and any other outbuildings and structures on your property – will be paid for. You’ll also have personal liability coverage if a visitor is injured, plus your extra living expenses will be reimbursed if your home is so damaged that you have to move out.
Similar to how some landlords require you to have renters insurance, your mortgage lender may require you to have homeowners insurance. However, even if you’re not required to buy a homeowners insurance policy it’s a good idea to do so. A homeowners insurance policy protects you from huge out-of-pocket costs in the event of a disaster. While you may not think damage from a weather-related event would affect you or a thief would target your home, home insurance is one of the best ways to protect your assets from unforeseen incidents. It’s important to note that home insurance is different from a home warranty, which will pay to replace major household systems and appliances that break or wear out.
Waiting until you’re in the midst of a home purchase or refinance before you delve into the consumer buying process for home insurance is unwise. If you wait until that stage, you’re probably in a time crunch already and you might not make the best homeowners insurance company choice for your particular situation.
The good news is that there are a number of home insurance companies to choose from, and the internet has made researching easy. What most homeowners are looking for is a good price and an easy buying process.
We wanted to see which insurance companies customers felt did the best job of making the homeowners insurance buying process easy, so we analyzed customer feedback. Clearsurance has analyzed thousands of reviews to identify the top ten insurers that make the consumer buying process for home insurance easy.
|Rank||Company||Buying Process Score (out of 5.0)|
|2||Erie Insurance Group||4.60|
|4||State Farm Insurance||4.42|
|6||Farmers Insurance Group||4.35|
To be eligible for this list, companies must sell homeowners insurance and have at least 25 reviews on Clearsurance.com that rated the company’s buying process.
1. Lemonade Insurance Company
Lemonade is a newer insurance company that relies on artificial intelligence to speed up the insurance process, both in applying for a policy and for claims. The company’s technology means that customers can apply for policies in minutes using their website. Additionally, underwriting and claims are also almost completely digital, which customers notice. If speed, ease of use, and a favorable claims experience are important, Lemonade home insurance has many positive reviews and if you are looking to buy homeowners insurance, their customers hold the company in high regard.
Out of a possible five stars, customers rated Lemonade’s homeowners insurance buying process as a 4.78 — the highest place in our rankings.
2. Erie Insurance Group
Erie Insurance Group was founded in 1924 in Pennsylvania. They offer a range of insurance products, including home, auto, and life insurance, sold through an independent agent network. You can request a quote for homeowners insurance online.
Out of a possible five stars, customers rated Erie Insurance Group’s homeowners insurance buying process as a 4.60 — a strong second-place finish in the rankings.
USAA’s customers frequently heap praise on the company for being fast, friendly, and offering a wide range of insurance products at a great price. There’s one catch, though:you have to be a member of the military, or immediate family of a military member, to qualify for USAA insurance products. Read here to see if you’re eligible to become a USAA member.
Out of a possible five stars, customers rated USAA’s homeowners insurance buying process as a 4.49. This lands them at a third-place finish in the rankings.
4. State Farm Insurance
State Farm Insurance is a large, nationally known insurance company—in fact, it’s the largest property and casualty insurance provider in the U.S. State Farm offers a wide range of insurance policy types, including homeowners insurance.
Out of a possible five stars, customers rated State Farm Insurance’s home insurance buying process as a 4.42 — a solid fourth-place finish in the rankings.
5. Progressive Insurance
Progressive is one of the biggest auto insurance companies in the country, but they also offer homeowners insurance through affiliated and third-party insurance companies.
Out of a possible five stars, customers rated Progressive Insurance’s home insurance buying process as a 4.36, ranking them fifth on our list.
6. Farmers Insurance Group
Farmers Insurance Group offers home, auto, and other lines of property insurance products through its network of exclusive and independent agents.
Out of a possible five stars, customers rated Farmers Insurance Group’s home insurance buying process as a 4.35 — incredibly close to Progressive’s total (just short of a tie), landing them at sixth place in the rankings.
GEICO is an acronym, as the company was founded as the Government Employees Insurance Company. GEICO is one of the nation’s largest auto insurance companies, and offers property insurance, including homeowners policies, through third-party companies.
Out of a possible five stars, customers rated GEICO’s home insurance buying process as a 4.31, leading them to seventh place in the rankings.
8. MetLife, Inc.
MetLife is a large, global insurance company that offers a large range of insurance products, including home, auto, life, health, and annuities. MetLife’s predecessor company was formed in 1863, insuring soldiers and sailors during the Civil War.
Out of a possible five stars, customers rated MetLife, Inc.’s home insurance buying process at a 4.27, which means that they are in eighth place in the rankings.
Allstate is an American insurance company, based in Illinois. It was originally part of Sears, Roebuck and Co., and the company offers home, auto, renters, and life insurance policies.
Out of a possible five stars, customers rated Allstate’s home insurance buying process as a 4.25 — a solid ninth-place finish in the rankings.
You might know AAA best as a provider of roadside assistance coverage, but the company also offers homeowners insurance through trusted partners. You have to be a member of AAA to apply for a homeowners policy.
Out of a possible five stars, customers rated AAA’s home insurance buying process as a 4.20, rounding out our list with a tenth-place showing in the rankings.
Why do customers rate these companies highly in the customer buying process?
Our analysis of reviews highlights some key attributes, for both the companies rated highly and for those rated poorly. Most importantly for many customers is receiving what they perceive to be a fair and reasonable quote. As cost is a big part of the buying process, it makes sense that getting a good quote would be considered a positive part of the purchasing process.
On the negative side, customer disappointment can be summed up in one phrase — “unmet expectations.” Whether it’s a quote that was higher than anticipated or a revised premium after six months as a policyholder without a claim, if a customer anticipated one level of service and received another, it likely showed up in a negative review.
If you want to buy homeowners insurance, and are looking for an easy purchasing experience, this list of the top ten companies that make the process easy is a good place to start. You can visit Clearsurance’s homeowners insurance rankings page to get personalized recommendations and see the companies that customers rated as the best overall in your zip code.
The content on this site is offered only as a public service to the web community and does not constitute solicitation or provision of legal advice. This site should not be used as a substitute for obtaining legal advice from an insurance company or an attorney licensed or authorized to practice in your jurisdiction. You should always consult a suitably qualified attorney regarding any specific legal problem or matter. The comments and opinions expressed on this site are of the individual author and may not reflect the opinions of the insurance company or any individual attorney.