A home is one of the most significant investments you'll likely make in your life, and naturally, you'll want to protect it. That's where homeowners insurance comes into play. Most homeowners insurance companies offer the same basic coverage. Still, some companies are one step ahead in customer service and provide more extensive coverage at a better value than others.
If you're shopping for homeowners insurance, you'll want an insurance with affordable rates, good customer service, and quality coverage. If you don't know what to look for in a home insurance provider, you might end up paying more for inappropriate coverage.
To help you find a homeowners policy that works for you, NextAdvisor looked at over a dozen insurance companies and took into consideration their financial ratings, customer service and claims satisfaction ratings, discounts, additional and coverage options.
Based on our research, here are the homeowners insurance companies that we think stand out in 2021.
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Our Picks for the Best Home Insurance Companies
- Nationwide
- Travelers
- Progressive
- Company Overview
Nationwide
Established nearly 100 years ago, Nationwide has become one of the largest insurance companies on the market, offering coverage in all 50 states. The company is well known for its auto insurance policies, but it also offers a variety of home and life insurance products. Nationwide's broad range of policies in home, auto, and life allows you to consolidate your coverage with the same brand while getting policy discounts — and when it comes to discounts, Nationwide is your best bet. It offers eight different discounts for homeowners insurance, making it relatively easy to reduce your insurance premiums.
Average annual premium for a $250K dwelling: $1,042
Nationwide Coverage Types
- Personal liability insurance
- Medical payments insurance
- Dwelling insurance
- Personal property insurance
- Other structures insurance
- Loss of use insurance
- Ordinance insurance
- Credit card coverage
- Identity theft insurance
- Replacement cost plus insurance
- Values plus coverage
- Water backup coverage
- Earthquake insurance
- Flood insurance
- Brand new property coverage
- Better roof replacement coverage
- Multi-policy discount: You can get a lower rate by bundling your home, auto, and life insurance policy.
- Protective device discount: If your home is equipped with smoke detectors, fire alarms, or a security system, you can qualify for a discount.
- Claims-free discount: If you have no insurance claims on your record within the last several years, you may be able to get a discount on your premium.
- Home renovation discount: If you have recently renovated your home's plumbing, heating, cooling, or electrical systems, you can get a lower rate.
- Roof rating discount: Nationwide policyholders can save money on their insurance policy based on their home's roof age and surface type.
- New home discount: If you insure a home purchased in the last year, you might be able to qualify for a discount.
- Prior insurance discount: If you switch to Nationwide from a different insurance provider, you can qualify for a discount based on how long you were insured by the other carrier.
- Gated community discount: Homeowners who live in a gated community protected by security guards, residence cards, or key-lock devices can get a lower rate on their home insurance.
- Dwelling insurance
- Personal property
- Personal liability
- Loss of use
- Other structures coverage
- Green home coverage
- Special personal property coverage
- Jewelry and valuable items
- Identity fraud coverage
- Multi-policy: Just as with auto, bundling policies saves money.
- New homeowner: New homebuyers get a special discount.
- Loss-free: Expect to see a better rate if you haven't made claims against your home insurance policy.
- Green home discount: If your home is a certified green home with LEED, the Leadership Energy and Environmental Design organization, you'll save 5%.
- Protective device: Install protective devices such as smoke detectors, smart home technology, or interior sprinkler system to reduce premiums.
- Dwelling insurance
- Other structures coverage
- Personal liability
- Personal property
- Loss of use coverage
- Medical payments coverage
- Water backup coverage
- Personal injury coverage
- Multi-policy discount: You can save an average of 5% when you bundle a home and auto insurance policy with Progressive.
- Safety and alarms discount: If your home is equipped with a security system, fire alarms, or automatic sprinklers, you qualify for a discount.
- Quote in advance discount: Getting a home insurance quote from Progressive at least 10 days before your policy starts can lower your rate.
- Pay in full discount: Policyholders who pay their annual premium upfront and in full can save some money on their insurance.
- New home discount: If you recently purchased a new home or switched from a Progressive renters insurance policy, you'll get a lower rate.
- Newly built home discount: Newly built homes qualify for a discounted insurance rate.
- Digital documents discount: Policyholders who sign up for emailed statements can get a discount.
- Dwelling coverage
- Personal belongings
- Loss of Use
- Personal liability
- Other structures
- Home-sharing coverage
- Earthquake coverage
- Multi-policy discounts: If you bundle your home insurance with auto insurance from USAA, you can save 10% on your premiums
- Claims-free discount: Policyholders who don't file any claims for five years will receive a 10% discount
- Protective device discount: USAA partners with ADT and offers discounts to homeowners who install their home security systems