Homeowners insurance protects your property and possessions from fire, theft, natural disasters and other unexpected perils.
It can also pay for lodging and other expenses while your home is being repaired — and even cover medical bills and legal fees if someone is hurt on your property.
To find the best homeowners insurance companies, we reviewed dozens of providers based on cost, coverage options, customer satisfaction and other features. (Read more about our methodology below.)
Compare homeowners insurance companies
Best for new homeowners: Nationwide
Nationwide Homeowners Insurance
Cost
The best way to estimate your costs is to request a quote
Maximum coverage
Not disclosed
App available
Yes
Policy highlights
Nationwide covers home and property damages caused by theft, fire and weather damage. It also covers personal liability, loss of use and unauthorized transactions on your credit card
Does not cover
Water damage, earthquakes, flood insurance, identity theft, high-value items or rebuilding after loss. (These can all be purchased as add-ons for extra coverage.)
Terms apply.
Pros
- Rates well below national average
- Discounts for bundling, new homes, staying claims-free and more
- Credit card fraud protection standard
Cons
- Less-than-stellar customer service
- Not available in Alaska, Hawaii, Louisiana or Oklahoma.
- Can't purchase a policy online
Who's this for? Nationwide has some of the most affordable rates in the market, with a new home discount if you bought your house within the last 12 months.
Standout benefits: Additional rate reductions are available for installing security devices, staying claims-free and renovating plumbing, HVAC or electrical systems.
Best for affordability: Amica
Amica Homeowners Insurance
Cost
The best way to estimate your costs is to request a quote
Maximum coverage
Not disclosed
App available
Yes
Policy highlights
Amica offers two tiers of homeowners insurance coverage — a standard policy and the brand's unique Platinum Choice homeowners insurance. The latter offers extended coverage for jewelry, liability and covers more situations than a standard homeowners insurance policy. Add-on options include computer coverage, sump pump backup coverage, and dwelling replacement coverage.
Pros
- Superior customer satisfaction scores from J.D. Power
- Some policies may pay dividends of between 5% and 20% on average.
- Doesn't restrict dog breeds
Cons
- Policies not available in Hawaii or Alaska
- Dividend policies not available in every state
Who's this for? Amica's rates for homeowners insurance are well below the national average, with up to 30% off if you bundle home, auto, umbrella and life insurance.
Standout benefits: Amica's Platinum Choice policies come with lots of extras, including replacement cost value, 30% more dwelling replacement coverage and up to $5,000 for fraudulent credit card use. Dividend options can be added to both standard and Platinum Choice plans.
Best for low credit scores: Foremost
Foremost Homeowners Insurance
Cost
The best way to estimate your costs is to request a quote
App available
No
Policy highlights
Foremost covers a variety of homes and situations — it offers traditional homeowners insurance in addition to coverage for seasonal homes, vacant homes, condos and more. A member of the Farmers group of companies, Foremost states that it offers coverage for homes that have been declined or non-renewed by other companies. It also covers high-risk situations like swimming pools and pets, and offers those who have bad credit.
Pros
- Offers coverage for a variety of situations, including coverage for those who have been non-renewed or declined elsewhere
Cons
- Online quotes take 2 to 3 days and aren't available in all states
Who’s this for? Foremost works with homeowners who have been turned down or non-renewed, including for having bad credit or a high-risk home.
Standout benefits: Unlike many competitors, Foremost insures seasonal and vacant homes. Flood insurance is available through the National Flood Insurance Program.
Best for high-value assets: Chubb
Chubb Homeowners Insurance
Cost
The best way to estimate your costs is to request a quote
Maximum coverage
Not disclosed
App available
Yes
Policy highlights
Chubb's Masterpiece plan includes extended replacement cost, water backup coverage and a cash settlement option
Does not cover
Flood or equipment breakdown coverage (can be purchased as an add-on)
Terms apply.
Read our Chubb homeowners insurance review
Pros
- Top-rated for customer satisfaction by J.D. Power
- Extended replacement cost available
- Complimentary home inspections and property services
- Cash settlement is available if you decide not to rebuild
- Personal liability coverage available up to $100 million
Cons
- Rates are higher than many competitors
- Online quotes are not available
Who's this for? Chubb's Masterpiece policies come standard with benefits competitors charge extra for, including extended replacement cost, water backup, a cash settlement option and property management services for vacation homes in hurricane-prone areas.
Standout benefits: The limit on personal liability coverage is $100 million, far beyond most competitors. Chubb also offers flood insurance, with coverage limits of up to $15 million for property damage.
Best for speedy claim approval: Lemonade
Lemonade Homeowners Insurance
Cost
Starts at $25/month; can vary by state, age of the home and other factors
Maximum coverage
Not disclosed
App available
Yes
Policy highlights
Policy covers your home and property for damages caused by wildfires, extreme weather, crime, and vandalism. It also covers liability claims for damage you accidentally cause to others
Does not cover
Power, water, or heat going out, or bug infestation; some events may not be eligible for coverage, depending on the circumstances — see here for more information
Terms apply.
Pros
- Ability to cancel coverage at any time
- Affordable monthly cost
- Make claims through the app
- Ability to easily switch over from a different insurer
- Can add additional coverage for expensive personal items like jewelry and cameras
- Ability to make payments through escrow or using a credit card
- Also covers condos
- Simple claims may be paid almost instantly
Cons
- Only available in 24 states
- Cannot enroll over the phone
Who's this for? Lemonade has earned a reputation for speed with an AI-powered interface that reportedly settles 40% of claims in just seconds.
Standout benefits: Claims payments are wired directly to your bank account.
Best for military members and veterans: USAA
USAA Homeowners Insurance
Cost
The best way to estimate your costs is to request a quote
Maximum coverage
Not disclosed
App available
Yes
Policy highlights
Policy covers most weather-related damages, theft, vandalism, sudden and accidental water damage and mold. Also covers personal liability, personal belongings, dwelling and other structures and loss of use
Does not cover
Flood insurance, water damage and mold that has built up slowly over time, high-value personal items
Terms apply.
Pros
- USAA Perks™ program for discounts on moving and storage, home security and handyman and cleaning services
- Claims-free discount available
- Discounts for installing smart home devices that detect leaks, smoke and more
- Added benefits for military members such as coverage for uniforms and equipment for active-duty members
Cons
- Coverage and discounts are not available in all states
- Must become a USAA member in order to get a quote
Who's this for? USAA specializes in policies for former and current service members and their families. Deductibles are waived on covered losses for personally owned military gear and uniforms.
Standout benefits: Replacement cost and identity theft coverage are included with all policies. Optional add-ons include home-sharing coverage, water backup and up to $10,000 coverage for laptops and other personal electronics.
[ Jump to more details ]
More on our top homeowners insurance companies
Nationwide
Founded in 1926 as Farm Bureau Mutual Automobile Insurance Company, Nationwide issues car, homeowner, renters, life, pet and other insurance policies, as well as financial products like mortgages, annuities and mutual funds.
Availability: Available in all U.S. states except Alaska, Hawaii, Louisiana and Oklahoma
J.D. Power customer satisfaction ranking: Above average
NAICP complete index: Fewer complaints than expected
A.M. Best rating: A (Excellent)
Amica
Founded in 1907, Rhode Island-based Amica sells homeowners, renters, auto and other personal insurance policies, including flood insurance through the National Flood Insurance Program. In some states, Amica offers dividend policies that can return 5% to 20% of your annual premiums. It's among the top providers in J.D. Power's customer satisfaction survey and ranked No. 1 for the property claims process.
Availability: Available in all U.S. states except Alaska and Hawaii.
J.D. Power customer satisfaction ranking: Above average
NAICP complete index: Fewer complaints than expected
A.M. Best rating: A+ (Superior)
Foremost
Founded in 1952, Foremost has been a part of the Farmers Insurance Group since 2000. In addition to auto and homeowners policies, it offers flood insurance and specialty coverage for boats, RVs and manufactured homes.
Availability: Available in all 50 U.S. states and Washington D.C.
J.D. Power customer satisfaction ranking: Not rated
NAICP complete index: Fewer complaints than expected
A.M. Best score: A (Excellent)
Chubb
With origins dating back to 1792, Chubb specializes in exceptional coverage and service for high-value properties. In addition to homeowners policies, it sells condo, renters, auto, boat and jewelry insurance, as well as private flood insurance
Availability: Available in all 50 U.S. states and Washington D.C.
J.D. Power customer satisfaction ranking: Above average
NAICP complete index: Far fewer complaints than expected
A.M. Best rating: A++ (Superior)
Lemonade
Lemonade launched in 2015, quickly gaining a following for its low rates, easy-to-use interface and AI-driven claims process. As part of Lemonade's commitment to social responsibility, a portion of funds not used to pay claims is donated to non-profits chosen by policyholders.
Availability: Available in 23 states and Washington, D.C.
J.D. Power customer satisfaction ranking: Not rated
NAICP complete index: More complaints than expected
A.M. Best rating: Not rated
USAA
Membership in USAA is open to active-duty service members, veterans, members of the National Guard and Reserves and ROTC cadets, as well as their spouses and children..
Availability: Available in all 50 U.S. states and Washington D.C.
J.D. Power customer satisfaction ranking: Above average
NAICP complete index: Fewer complaints than expected
A.M. Best rating: A++ (Superior)
How much is homeowners insurance?
The average cost of homeowners insurance in 2023 was $2,377 a year for a policy with $300,000 dwelling coverage, according to data from Insurify, which projects the cost will rise to $2,522 by the end of 2024. Inflation, a shortage of skilled labor and an increase in severe weather events have contributed to a 20% increase in rates from 2022 to 2024.
Individual premiums can vary greatly, however, based on where you live, your credit history and the age of your home. The coverage, deductibles, policy limits and endorsements you choose will also have a big impact on your rate.
What does homeowners insurance cover?
Homeowners insurance protects your property and possessions, but it also covers other things:
- Dwelling coverage: Pays for rebuilding or repairing your home, including the physical structure, permanent fixtures, appliances and attached structures (like a garage or fence).
- Personal property coverage: Covers belongings damaged or lost due to fire, theft or other covered perils, including clothes, furniture and computer equipment. You'll need to decide between a policy that covers the replacement cost value of your belongings or the actual cash value, which deducts depreciation.
- Additional living expenses: Also known as loss of use coverage, this benefit provides reimbursement for hotel rooms, meals and other expenses if you need to temporarily relocate after a covered loss.
- Personal liability coverage: Pays for legal fees, medical costs or repairs if you're held liable for someone else's injuries on your property or if you cause damage to someone else's property.
Standard homeowners insurance doesn't cover everything — most policies don't pay for damage caused by flooding, earthquakes or normal wear and tear, for example. Some perils can be covered by purchasing additional coverage, known as an endorsement.
How much homeowners insurance do I need?
Experts recommend insuring your home for at least 80% of its replacement cost, or the dollar amount it would cost to rebuild, based on its size, location and custom features. Less than that and your insurer may not approve the full amount of your claim.
That figure accounts for the amount of dwelling coverage you need. Personal property, personal liability and additional expenses coverage are usually a percentage of the dwelling amount: Your personal property limit may be set at 50% or 70% of your dwelling amount, for example, but you can adjust that based on the value of your belongings.
If you live in a flood-prone area or have lots of valuable or hard-to-replace possessions, you may need additional coverage.
FAQs
What does homeowners insurance cover?
A basic homeowners insurance policy usually covers damage to the structure of your home and surrounding structures, stolen or damaged personal property and bodily injuries suffered by a visitor on your property. You can buy additional coverage for high-value items like jewelry and fine art.
What's the difference between renters insurance and homeowners insurance?
Renters insurance covers the tenant's belongings, while a homeowners policy insures the actual building and associated structures. Mortgage lenders usually require a homeowners policy but a landlord may not insist on renters insurance.
How do you file a homeowners insurance claim?
The process for filing an insurance claim varies by company but, typically, it starts with documenting the damage and making emergency repairs. You'll then submit a claim to your insurer, who will assign a claims adjuster to your case. If your claim is approved, you should receive one or more checks to cover the cost of repairs.
Does homeowners insurance cover mold?
Homeowners insurance won't cover mold if it's due to negligence, like a pipe that's been dripping for months. Your policy may cover it, however, if it's the result of a sudden, accidental event, like a burst pipe or water heater.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every homeowners insurance review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of insurance products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best homeowners insurance companies.
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Our methodology
To determine which homeowners insurance companies are the best, CNBC Select analyzed dozens of U.S. insurance companies that come with policies to suit an array of needs.
When narrowing down and ranking the best homeowners insurance companies, we focused on the following features:
- Cost: While monthly premiums depend on the amount of coverage an individual needs, location, the value of your possessions and other variables, some insurance options offer policies with lower monthly starting costs.
- Policy coverage: Standard policies tend to include coverage for structural damage, personal property loss or damage, personal liability and medical payments to others. Some companies may also include water damage, water backup and high-value items as add-ons for extra coverage.
- Coverage amount: It is common for insurance companies to provide different coverage amounts for different concerns. The maximum amounts vary from company to company. We have noted maximum coverage wherever possible.
- Policy discounts: Insurance companies typically allow policyholders to earn a small discount for signing on to bundle homeowners insurance with other policies such as auto insurance, RV insurance, boat insurance and more. Some companies may also offer an additional discount for having certain safety features in one's home, including smoke detectors and burglar alarms. A rate reduction may be applied for those whose policy remains claim-free for a certain amount of time.
- Availability: For some insurance companies, policy availability will depend on the city or state, as not all companies offer nationwide policies and discounts for policies.
- Claim filing: Many insurance companies allow policyholders to file a claim via their app or through their online accounts. In loss of use cases, policyholders may be required to retain receipts to submit alongside their claim.
- Streamlined signup process: We considered whether insurance companies offered a convenient, fast online signup process.
- Customer support: Every insurance company on our list provides customer service available via telephone, email, secure online messaging and/or through an app. We also opted for lenders with an online resource hub or advice center to help you educate yourself about homeowners insurance policies and claims.
We considered J.D. Power survey results for customer satisfaction and the claims process, as well as AM Best financial strength scores, complaint volume from the National Association of Insurance Commissioners and Better Business Bureau grades
We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.
The premiums and policy structures cited for homeowners insurance fluctuate according to company policy.
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