7 Best Home Insurance Companies of November 2023

Table of contents:

• The best home insurance companies

• How to find the best home insurance policy in five common scenarios

• How to compare homeowners insurance

• Find the best homeowners insurance in your state

Your home is one of your largest and most meaningful investments, so choosing the best homeowners insurance available to you makes sense. Naturally, you’ll want a good price — but you also want the right mix of coverage from a company that can afford to pay your claim if disaster strikes. Reliable customer service is a plus, too.

To narrow down our list of the best homeowners insurance companies, we looked at customer complaint data, consumer experience and financial strength. We also assessed each insurer's coverage options and discounts.

Based on these factors, here are our top home insurance companies for 2023.

Why you can trust NerdWallet: Our writers and editors follow strict editorial guidelines to ensure fairness and accuracy in our coverage so you can choose the insurance policy that works best for you. These carrier ratings are specific to home insurance — a company's rating for other products may be different on our website. See our criteria for evaluating homeowners insurance companies.

The best home insurance companies of 2023

All of the home insurance companies listed below scored 5 out of 5 stars. Hundreds of insurers compete for your business, often selling very similar products, so it’s smart to compare home insurance quotes from a few before making a decision.

How we ranked the best homeowners insurance companies

NerdWallet’s editorial team considered coverage options, discounts, complaint data from the National Association of Insurance Commissioners, financial strength grades from AM Best and more to determine the best homeowners insurance companies.

Our rating system rewards companies with many coverage options and discounts, a low number of consumer complaints and a strong financial rating. Within the consumer experience category, we looked at features such as online quotes and claim reporting. To calculate each insurer’s rating, we adjusted the scores to a curved 5-point scale.

These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you.

Best homeowners insurance companies: Pros and cons

Below are the companies that earned a perfect 5-star rating under NerdWallet’s scoring system. Learn more about our top home insurance companies by reading the brief summaries below and checking out our comprehensive reviews.

Jump to:

• Chubb: Best for high-value homes

• Erie: Best for homeowners in the Mid-Atlantic or Midwest

• Farmers: Best for optional perks

• NJM: Best small regional insurer

• Openly: Best for generous coverage

• State Farm: Best for many coverage options

• USAA: Best for military and veterans

Company overview: Chubb targets owners of expensive homes, tailoring much of its experience toward well-to-do clients. It offers a substantial number of coverage options, including atypical ones such as HomeScan, which helps uncover issues with your home that require attention before they can cause damage.

Chubb also offers extended replacement cost coverage for your dwelling and replacement value for your belongings as part of its standard policy — another unusual benefit for consumers. This means that if your home costs more than expected to rebuild after a covered disaster, Chubb will pay out more than your selected dwelling limit to help cover the cost. It also means that you’ll receive enough of a payout to buy brand-new replacements for your damaged belongings, rather than getting only their depreciated value.

Chubb has significantly fewer complaints to state regulators than expected for a company of its size, according to three years’ worth of data from the NAIC.

» Read the full review: Chubb home insurance

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Company overview: If you live in one of the states Erie serves, its policies are worth considering. In some locations, the company includes guaranteed replacement cost coverage in its standard policies. This means Erie will pay as much as necessary to rebuild your home if it’s destroyed, even if the amount is higher than your dwelling limit.

To further customize your policy, you can add options such as identity recovery, service line protection and water backup coverage. Discounts are available for bundling your homeowners insurance with another Erie policy or installing burglar or sprinkler systems.

Erie doesn’t offer as many online bells and whistles as some other insurers do. You’ll have to call an agent to get a quote, for instance, and you can’t file claims online. But if you prefer having a personal relationship with a local agent, the company might be a good fit.

» Read the full review: Erie home insurance

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Company overview: Farmers has a variety of coverage packages and options for homeowners to choose from, making it easy to find the policy that’s right for you. In most states, Farmers policies include extended replacement cost coverage for the structure of your home, giving you a little extra insurance in case it costs more than expected to rebuild the house after a disaster.

Some plans may also include perks such as claim forgiveness, which means the company won’t raise your rates after you file a claim. (You must have gone without a prior claim for at least five years.) You may also see your deductible go down by $50 for each year you renew your policy.

Although Farmers policies tend to cost more than the national average, the company offers a long list of potential discounts, depending on where you live. For example, you could save by bundling multiple policies, owning a newer home, being a nonsmoker and signing up for autopay.

» Read the full review: Farmers home insurance

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Company overview: NJM Insurance serves only five states, but if you live in one of them, you'll find generous homeowners policies that include several types of coverage that cost extra from other insurers. For example, the company’s guaranteed replacement cost coverage will pay to rebuild your home if it’s destroyed, even if the damage exceeds your dwelling limit.

NJM has a streamlined online experience that allows you to easily manage the claims process. In addition, nonsmokers and people 65 and older receive discounts on their premiums.

Complaints to state regulators about NJM’s homeowners insurance are fewer than expected for a company of its size, according to the NAIC.

» Read the full review: NJM home insurance

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Company overview: Openly sold its first policies in 2019 and aims to offer a fresh take on homeowners insurance. The company’s policies include guaranteed replacement cost in many states, which means Openly will pay whatever it takes to rebuild your home, up to $5 million. (This feature isn’t available from all insurers and typically costs extra.)

The standard Openly policy also provides “open-perils” coverage for your personal belongings, which covers more potential problems than most homeowners policies do. You can choose from several optional types of coverage for things like damage from backed-up water lines and the breakdown of major appliances.

Openly is currently available only through independent agents, with no option to get an online quote.

» Read the full review: Openly home insurance

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Company overview: The nation’s largest home insurer, State Farm recently celebrated its 100th anniversary. Its homeowners policies generally include extended replacement coverage for your home’s structure — a useful perk that costs extra from some companies.

Other options from State Farm vary depending on where you live, but they may include coverage for identity theft, certain foundation problems or water damage from backed-up drains. Some are available online, while others require a chat with an agent to add to your policy.

You can do a lot on the State Farm website, including getting a quote, filing and tracking claims, paying bills and signing up for autopay. The mobile app is similarly useful. 

» Read the full review: State Farm home insurance

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Company overview: USAA is open only to active military members, veterans and their families. For those who qualify, USAA provides several standard features that many other insurers don't:

• Identity theft coverage in most states to help with expenses if you are the victim of identity fraud.

• Military uniform coverage for those on active duty or deployed, which provides full reimbursement without a deductible if a uniform is damaged or stolen during a covered event.

• Replacement cost coverage, which pays the cost to replace items rather than providing only the depreciated value.

USAA has far fewer complaints to state regulators for home insurance than expected for a company of its size, according to the NAIC.

» Read the full review: USAA home insurance

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Other home insurance companies to consider

The following 4.5-star companies also offer excellent coverage and useful features.

Company overview: Wisconsin-based American Family sells homeowners insurance in 19 states. It has several extra coverage options to choose from, and it receives fewer consumer complaints than expected for a company of its size.

Homeowners can save on their premiums in a variety of ways, including discounts for smart-home devices, bundling multiple policies and setting up automatic payments.

» Read the full review: American Family home insurance

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Company overview: Amica home insurance offers the standard coverage you’d expect along with strong customer service. Those looking for extra coverage can select the Platinum Choice package, with perks like extended dwelling coverage, higher liability limits and coverage for damage due to backed-up drains or overflowing sump pumps.

Amica offers a program called Contractor Connection, which helps pair customers with licensed and insured contractors.

The company also has discounts for:

• Staying with an insurer for at least two years.

• Insuring a new or remodeled home.

• Receiving bills electronically and paying automatically each month.

Amica draws far fewer complaints than expected for a company of its size, according to the NAIC.

» Read the full review: Amica home insurance

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Company overview: Cincinnati Insurance sells homeowners policies through independent agents in most U.S. states. The company stands out when it comes to service, with very few consumer complaints for an insurer of its size, according to the NAIC.

Worried about hacking or online fraud? Cincinnati Insurance offers both identity theft and personal cyber coverage as add-ons to its homeowners policy. These types of coverage can help you recover if malware locks up your computer or a criminal takes out a loan in your name.

Cincinnati has multiple coverage packages for high-value homes, providing higher limits and perks such as wildfire protection services in at-risk states.

Discounts may be available for bundling home and auto policies, having a newer home and going for a certain amount of time without filing a claim.

» Read the full review: Cincinnati home insurance

Company overview: Although Country Financial may offer online quotes to some users, you’ll need to speak with a local representative to buy your policy. That allows homeowners to make sure they have exactly the coverage types and limits they need.

Depending on which type of policy you choose, Country Financial may cover household mishaps, such as countertop burns or spilled paint. In most states, Country Financial offers guaranteed replacement cost coverage that pays the cost of standard new construction materials and labor if you need to rebuild your home, with no limits.

Customers can get safety-focused discounts for features such as:

• A new roof.

• A safe heating source.

• Smoke detectors and automatic sprinkler systems.

Given its size, Country Financial sees far fewer complaints to regulators than expected regarding its home insurance, according to the NAIC.

» Read the full review: Country Financial home insurance

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Company overview: Frankenmuth Insurance takes its name from its hometown of Frankenmuth, Michigan. The company sells homeowners insurance through independent agents in Michigan and Ohio.

You can customize Frankenmuth’s standard homeowners policy by extending your dwelling coverage limit or adding insurance for backed-up sewers and drains. Other useful add-ons include replacement cost coverage for your personal belongings and ordinance or law coverage to bring your home up to the latest building codes after a claim.

Those with higher-value homes may want to consider Frankenmuth’s Ultra Home Guardian policy, which includes a long list of bonus coverage for things like identity theft, sewer backup and lock replacement.

Company overview: The Hanover offers a variety of ways to customize your homeowners policy, including coverage for damage due to water backup or for expenses associated with bringing your home up to current building codes after a disaster. You can also opt for guaranteed replacement cost coverage so you know you’ll have enough money to rebuild, even if costs are higher than expected.

If you buy the company’s Prestige policy, designed for higher-value homes, you won’t have to pay a deductible on claims higher than $50,000.

» Read the full review: The Hanover home insurance

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Editor's note: Hippo temporarily paused writing new policies across the country in mid-August 2023.

Company overview: Founded in 2015, Hippo emphasizes technology and user experience, promising a 60-second quote feature for easy price comparison. Hippo’s focus is evident in some of the extras that come with its policies, such as a smart home monitoring system and virtual connections to home maintenance advisors.

Several of Hippo’s discounts focus on protecting your home. Features such as burglar alarms and hail-resistant roofs will save consumers on their premiums.

» Read the full review: Hippo home insurance

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Company overview: Another newer company on the home insurance scene, Kin was founded in 2016. Its home insurance policies may cover personal belongings on a replacement cost basis, which means the company will pay out enough for you to buy new items if yours are stolen or damaged in a covered disaster.

Depending on where you live, you may be able to add additional coverage for identity theft expenses, water backup damage and pricey valuables such as jewelry. You can save money on your policy by installing security and fire alarms and taking steps to protect your home from wind.

» Read the full review: Kin home insurance

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Company overview: Nationwide stands out by offering ordinance or law insurance in its standard homeowners insurance policy. This means if you have a covered loss and need to update your home to meet current building codes, your insurance may cover the costs.

Nationwide also earns high marks for its consumer experience. Policyholders can file and track claims online or by phone, and the company’s website has a large library of consumer-centric content.

» Read the full review: Nationwide home insurance

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Company overview: Travelers’ optional green home coverage helps cover extra costs of using environmentally friendly construction materials when rebuilding after a covered claim. Carrying that theme further, Travelers offers customers a discount if their homes are certified as "green" by the Leadership in Energy and Environmental Design, or LEED, organization.

Travelers’ website allows for easy submission and tracking of claims, and it provides educational materials on basic homeowners insurance questions.

» Read the full review: Travelers home insurance

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Company overview: Founded in 1828, Vermont Mutual sells homeowners insurance through independent agents in Connecticut, Maine, Massachusetts, New Hampshire, New York, Rhode Island and Vermont.

You can customize your policy by adding coverage for the breakdown of systems and appliances such as water heaters, laundry machines, computers or solar energy systems. You can also add coverage for identity theft, damage to underground service lines, backed-up drains and theft of expensive jewelry.

Vermont Mutual drew far fewer consumer complaints than expected for an insurer of its size, according to the NAIC.

How to find the best home insurance policy in five common scenarios

You’re a first-time home buyer

We get it. The homebuying process can be a whirlwind and getting a homeowners policy may feel like one more item to check off a seemingly endless to-do list. But it’s still worth understanding the basics to make sure you’re financially protected.

For a quick primer, check out the essential terms to understand in your homeowners policy. Then, consider setting a calendar reminder to call your insurer six months after closing. By that point, you’ll be settled in and have a bit more time to double-check that you’ve got all the coverage you need.

» MORE: Homeowners insurance for first-time home buyers

You live in a high-risk area

Is your region prone to hurricanes, wildfires, earthquakes or other disasters? If so, you might want to spend a little extra time researching your coverage options.

For example, most homeowners policies don't cover damage from floods and earthquakes, so you may need to purchase additional insurance. If you live along the coast, you may have a separate windstorm or hurricane deductible that’s higher than your standard deductible for other disasters. A local agent can help you assess your risks and make sure you’re fully covered.

» MORE: Complete guide to hurricane insurance

You have a dog

If your furry pal bites a visitor or attacks someone at the dog park, the liability section of your home insurance policy may be able to help with resulting legal or medical expenses. But don’t just assume you’re covered.

Some insurance companies exclude certain breeds such as pit bulls or Rottweilers, while others won’t cover animal liability claims unless you add extra coverage to your policy. Check with your insurance company or agent to make sure your canine companion is properly covered.

» MORE: Why your dog needs liability insurance even if she’s perfect

You own valuable items

If you have expensive belongings, such as an antique diamond ring or a high-end guitar, check whether your homeowners policy offers enough coverage for them. Many valuable items are insured for theft only up to certain sublimits, such as $1,500.

If that’s not enough, you can typically buy extra coverage for individual items or collections. You may need to have a professional appraisal of each item.

» MORE: Jewelry insurance: Everything you need to know

You own an older home

Say the wiring in your century-old Victorian isn’t up to modern safety standards, or the house has unique architectural features that would be expensive to rebuild. These and other factors could make it tough to find affordable insurance for an older home. You might even need to make upgrades before you’re approved for coverage.

An experienced agent can help you weigh your options. For instance, you may want to add ordinance or law coverage to your policy to pay expenses associated with bringing your house up to current building codes during repairs.

How to compare homeowners insurance

1. Decide how much coverage you need. Finding the best homeowners insurance company for you starts with making sure you’re shopping for the right coverage. A standard policy covers your house and other structures, but the amount of coverage you need depends on how much it would cost to rebuild your home.

You’ll also have several options to consider, including the amount of your homeowners insurance deductible (the amount you pay out of pocket in the event of a claim) and whether you need extra insurance for valuable items. You might also want policy upgrades to cover earthquake damage or to ensure you can replace old belongings with new ones after a loss, rather than being paid for their depreciated value. Check out How Much Home Insurance Do You Need? to learn more.

By figuring out what you need before you compare home insurance companies, you can be sure each policy you’re considering provides the same level of coverage. You can also eliminate companies that don’t offer the options you want.

» MORE: What does homeowners insurance cover?

2. Compare home insurance quotes. After you outline your coverage needs, you can start shopping for homeowners insurance. You’ll want to compare home insurance quotes from at least three companies to be sure you’re getting the cheapest policy you can.

Homeowners insurance costs an average of about $149 a month, according to a NerdWallet analysis. But rates can vary dramatically because no two houses are the same and each insurer uses its own formula to calculate premiums and discounts.

You can shop for quotes online or by phone, or you can work with an insurance agent or broker to find the cheapest home insurance for you. Whichever route you choose, make sure to compare policies with similar coverage and deductibles.

Also, be aware that a homeowners insurance quote is only an estimate. Your price may change if an insurance company checks out your house and determines you need a different amount of coverage.

» MORE: 9 ways to lower homeowners insurance costs

3. Research home insurance discounts. Most companies offer savings for things like:

• Having multiple policies with the same insurer.

• Installing safety, security or smart-home devices.

• Avoiding claims for consecutive years.

Beyond those, you may see differences in both the number and type of discounts available. Matching the discounts your home is eligible to receive will ensure that you get the policy you want and that you benefit from investments you have made in your home.

» MORE: How to get home insurance discounts

4. Check customer satisfaction and complaints. If you choose a home insurance company that’s known for making its customers happy, you can feel more confident that you will have a good experience.

To see whether previous customers have been satisfied, you can look at studies on homeowners insurance and property claims satisfaction from J.D. Power, which surveys thousands of homeowners annually.

The NAIC website is another source of information about how insurance companies have performed. You can find out how many complaints were filed against an insurer with state regulators, the reasons for the complaints, and whether there were more complaints than expected for a company of its size.

» MORE: See all NerdWallet homeowners insurance reviews

5. Consider financial strength. You’ll want to buy homeowners insurance from a stable company with enough money to pay claims. Financial strength is one way to evaluate whether an insurer meets that standard. You can check financial strength through a rating firm such as AM Best.

NerdWallet typically recommends considering insurers with ratings of A- or higher. Any company with an AM Best rating of B+ or higher has a “good” ability to meet its obligations in AM Best’s opinion. Companies with ratings below that may not be quite as safe a bet and often have higher rates of complaints relative to their size.

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