Home insurance

Best and Worst Home Insurance Companies

According to consumer reports the best and worst home insurance companies.

When it comes to sorting out the best from the worst homeowners insurance companies, price isn’t the be all, end all.

You’ve also got to consider a company’s reputation with both customer complaints and customer satisfaction after you make a claim on your property. If you’re looking for the top home insurance companies, here’s who to check out and who to avoid…

1- USAA

USAA scored the highest out of more than two dozen insurers on the J.D. Power 2018 U.S. Home Insurance Study and clinched the number two spot on a similar list from Consumer Reports.

With USAA, the insurance coverage and other financial services it offers are only available to those in the military or who are affiliated with the military through direct family ties.

2- Amica Mutual

Amica Mutual has no restrictions on who can become a customer. But because Amica Mutual is a mutual company, it tends to be very expensive the first year you join.

That’s because there are no shareholders like there are with other public companies. When you sign up for Amica Mutual homeowners insurance, you become a part owner of the company.

So your first year of membership is higher because you’re “buying into” the mutual company.

Top 10 best homeowners insurance companies

  • Ease of reaching an agent to handle the claim
  • Agent courtesy
  • Promptness of response and attentiveness in handling the claim
  • Simplicity of the claims process (number of steps, amount of work etc.)
  • Damage amount: Satisfaction with company’s estimate of dollar amount of damages
  • Timely payment: Satisfaction with timely payment by insurer

Here are the winners and losers, according to the magazine:

1. Amica Insurance
2. USAA Property & Casualty
3. Erie Insurance Group
4. MetLife
5. Auto-Owners Insurance Group of Companies
6. Nationwide Mutual Insurance Company
7. The Hartford Financial Services Group
8. Liberty Mutual
9. Travelers
10. Farmers Insurance

5 lowest-rated home insurers

1. Auto Club Group
2. State Auto Insurance Companies
3. American Family
4. Allstate
5. State Farm

Top 10 best homeowners insurance companies

Home insurance companyCustomer satisfaction index rating
1. USAA891
2. Amica Mutual861
3. Auto Club of Southern California Insurance Group840
4. The Cincinnati Insurance Company835
5. Erie Insurance Group828
6. State Farm825
7. MAPFRE North America Group823
8. Allstate822
9. Auto-Owners Insurance822
10. Farmer’s Insurance819

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