May 12, 2022

2022 Best Homeowners Insurance Companies

10 min read
Homeowners Insurance

A homeowners insurance policy can be like a financial security blanket for what may be the single largest purchase of a person’s life. The right policy should help protect you from the costs of rebuilding after a fire, replacing stolen items, repairing your home from storm damage, or from liability claims if someone is injured on your property.

With our rating of the Best Homeowners Insurance Companies of 2022, we want to provide you with the knowledge you need to find the best homeowners insurance company to meet your needs. In our company reviews and home insurance guides, we discuss a variety of information from availability, rates, policies, and add-on coverage to the application process, and how to file a claim.

Our Best Homeowners Insurance Rating

Lemonade: Lemonade stands out in our rating for being almost entirely online. You can sign up, file claims, make changes to your policy, and cancel your insurance either through its mobile app or its website. This can be a major upside for those who would rather file a claim online and not have to speak to an agent. Further, if there is a home-related emergency that leaves you without internet access, there is still a phone number you can call.

Lemonade provides the option of extra coverage without a deductible for high-value personal belongings such as jewelry, camera equipment, and musical equipment. It also prides itself on giving to charities through its Giveback program.

On the downside, Lemonade isn’t available in as many states as other companies in our rating.

USAA: USAA stands out in our rating for its services and policies offered primarily to members of the military, veterans, and their immediate family members. USAA is also the only company in our rating to include identity theft protection in its standard homeowners insurance policy, while most other companies in our rating offer it as an add-on.

Unlike many competitors, USAA offers homeowners insurance in every state. And if you’re looking to invest in a home security system, USAA has partnered with ADT to offer discounts for owners of its homeowner insurance policies.

Unlike many competitors, USAA offers homeowners insurance in every state. And if you’re looking to invest in a home security system, USAA has partnered with ADT to offer discounts for owners of its homeowner insurance policies.

Allstate: Allstate provides a wide variety of coverage options to round out its standard homeowners insurance policy. These options include relatively common ones like scheduled personal property coverage for high-value appraised items, but also less common coverage specifically geared towards sports equipment, musical instruments, and your yard and garden. Allstate will also pair you with a local agent when you become a customer to better tailor your coverage to meet your needs.

While Allstate is one of the more expensive homeowners insurance companies in our rating, it provides a number of discounts that may bring the cost of premiums down for you.

State Farm: State Farm is one of the few companies in our rating that offers homeowners insurance policies in all 50 states. Its standard policy is competitive with other companies in our rating. It also offers a variety of less common discounts, such as for installing an impact-resistant roof. Available policy options include coverage for identity theft and sewer backups.

State Farm has an extensive network of 20,000 insurance agents in the U.S. If you’re more comfortable purchasing insurance from a local agent, you should be able to find one close to you.

Nationwide: Available in all but three states, Nationwide’s standard policy includes coverage for credit or debit card fraud and rebuilding your home to current code in the event of a covered disaster. It also offers what it calls the Brand New Belongings benefit, where you will be reimbursed for both the depreciated value of covered belongings and the additional cost to purchase new items.

There are several other options that can be added to your homeowners policy. For example, adding Replacement Cost Plus, which can increase the coverage limits for your home if it needs to be rebuilt after a covered loss.

Nationwide is also the only insurance provider to have also placed in our Best Life Insurance, Best Renters Insurance, and Best Pet Insurance ratings.

American Family: American Family puts a strong emphasis on its local agents. In addition to its standard policy, American Family provides options for coverages like matching side, which means if part of the side of your home is damaged, American Family will cover the replacement of the undamaged siding so that it all matches. Also available is equipment breakdown coverage that will cover some of your appliances, computers, smart components, and systems in the event that they are damaged due to mechanical failure, or an electrical or pressure system event.

Homeowners insurance policies from American Family are available in fewer than half the states in the U.S.

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