Best Home And Auto Insurance Companies

Home and auto insurance bundles are a great way to save money, with some insurers advertising discounts of up to 30%. However, it is not always the cheapest option. When choosing an insurance company, it is important to look for strong customer service, plenty of perks and coverage options, and other discounts.

- Amica: Amica offers online claims filing and tracking, and has far fewer consumer complaints than expected. It also offers the Platinum Choice package, which includes extended dwelling coverage and increased liability limits.

- State Farm: State Farm has the best average bundling discount (23%) among the companies analysed, a low level of complaints for auto insurance, and competitive prices. It also offers extended replacement cost coverage for houses.

- USAA: USAA offers a bundling discount of up to 10% and delivers low prices and quality service to military members, veterans, and their families. It also covers military uniforms with no deductible.

- Erie: Erie offers accident forgiveness, gap insurance, new car replacement coverage, and vanishing deductibles. It also has a top score for its collision repair claims processes and its low level of complaints.

- Auto-Owners: Auto-Owners has a low level of complaints about its auto and home insurance. It offers optional home insurance coverage of water backup, extended or guaranteed replacement cost. It also offers accident forgiveness, diminishing deductible, gap insurance, and new car replacement.

- Country Financial: Country Financial has strong customer satisfaction, with far fewer complaints than expected for a company of its size. It offers a range of home insurance coverage options, including guaranteed replacement cost coverage. It also offers new car replacement and vehicle rental and trip interruption coverage.

- The Hanover: The Hanover caters to home/auto policyholders with two customizable packages, Platinum and Prestige. Platinum includes a bundling discount, guaranteed replacement cost coverage, and a single deductible for a single event that affects both your home and vehicle. Prestige is designed for higher-value homes and cars, offering flexible and generous coverage limits.

Home insurance discounts

Customer-related discounts

• Retiree or senior citizen discount: Some insurance companies offer discounts to retirees and seniors who are over a certain age.
• Discount for specific occupations: Some insurance companies offer discounts to people in certain professions, such as teachers or firefighters.
• Military discount: If you're an active-duty or retired member of the military, you might qualify for a home insurance discount.

Policy-related discounts

• Multipolicy discount: This is one of the most common discounts. If you buy multiple insurance policies, such as home and auto insurance, from the same company, you could receive a discount for bundling these policies. Some home and auto insurance bundles can save you up to 25% off premiums.
• Claims-free discount: If you haven't filed a home insurance claim in a set number of years, you might be eligible for a discount. Usually, you have to be claims-free for at least three to five years.
• Loyalty discount: Some insurers provide policyholders with loyalty discounts if they’ve been with them for a certain number of years.
• Payment method discount: Some insurers offer discounts if you set up automatic payments or pay the premium annually rather than monthly.
• Paperless statements discount: You may qualify for a discount for choosing to receive paperless statements.
• Discount for paying on time: Some insurers will give you a discount for paying your home insurance premium on time.
• Discount for getting a quote in advance: Depending on the insurer, you might earn a home insurance discount for shopping ahead and getting a quote days before you purchase a policy.
• Rent-to-own discount: If you have renters insurance with a company, then buy a house, some insurers will offer a discount if you choose them for your home insurance.

Home-related discounts

• Security systems discount: If your home has security features like burglar alarms or a monitored security system, you might be eligible for a discount. These systems can help reduce the risk of theft and burglary, which makes your home less risky to insure.
• Home safety features discount: Installing deadbolt locks, reinforced windows, and sturdy roofing can help lower your insurance costs.
• Smart-home discount: You can shave money off your premiums by installing smart-home devices like video doorbells, window sensors, and smart locks.
• Fire safety discount: Homes with fire-resistant materials, sprinklers, and fire extinguishers could qualify for discounts because they reduce the risk of fire damage.
• New or renovated home discount: Newer homes are generally considered less risky to insure because they have up-to-date construction. If your home is newly built or you've recently done significant renovations, you might qualify for a discount.
• Green home discount: If you’ve made environmentally friendly upgrades to your home, you could qualify for a discount. This includes having a LEED-certified home and Energy Star-rated appliances.
• Nonsmoker discount: Nonsmoking households have a lower risk of fire-related incidents, so insurers may offer discounts for not smoking inside your home. For some insurers, everyone in your house needs to be smoke-free for at least two years to qualify.
• Location-based discount: Your home's location can also affect your insurance rates. Living in a safe neighborhood or gated community can lead to discounts.

Home insurance rates

When determining home insurance rates, insurance companies typically consider the following factors:

• Fire rating of your home's location (proximity to a fire hydrant or water source and fire department)
• Claims history at your property
• The cost to rebuild the house
• The coverage and policy limits selected
• The deductible chosen
• The materials used to construct the house, such as wood, stone, or brick
• Your credit history (except in certain states like California, Maryland, and Massachusetts)
• Your personal home insurance claims history

It's important to note that rates can also be influenced by factors such as the presence of a pool or trampoline, the breed of your dog, and whether you run a business from your home. Additionally, insurance companies may offer discounts for bundling home and auto insurance policies, having safety features in your home or car, or being claims-free for a certain period.

Home insurance complaints

If you have a complaint with your homeowner's insurance company, you should first contact your insurance company and/or your insurance agent and try to settle the matter informally. Make sure you have read your insurance policy carefully and have all the facts straight before reaching out. If you are not satisfied with the outcome, you can ask to speak with a supervisor or an employee in the company's service department.

If you are still dissatisfied or unable to resolve the dispute, you should contact your state department of insurance. All state departments of insurance have a complaint process available for making complaints against insurance companies. They can investigate your complaint and advise whether the insurance company's actions, or inaction, have violated any laws or regulations. However, they cannot force your insurance company to settle your dispute or pay a claim. If you are still not satisfied with the outcome, you may need to seek legal advice.

Home insurance coverage

Home insurance policies generally cover destruction, damage, and loss or theft of possessions. They also include personal liability for harm to others. There are three basic levels of coverage: actual cash value, replacement cost, and extended replacement cost/value. Policy rates are largely determined by the insurer's risk that you'll file a claim; they assess this risk based on past claim history associated with the home, the neighborhood, and the home's condition.

• Dwelling coverage: This covers the structure of your home, including attached structures like a porch.
• Other structures coverage: This covers stand-alone structures on your property, like a shed or fence.
• Personal property coverage: This covers your personal belongings, like furniture and appliances.
• Loss of use coverage: This covers temporary living expenses if your home is too damaged to live in.
• Personal liability coverage: This covers legal expenses if you're sued for injuries or property damage.
• Medical payments coverage: This covers medical expenses for someone injured on your property, regardless of who's at fault.

Home insurance companies with the best perks

Home insurance companies offer a range of perks and add-ons to their policies to help them stand out from the competition. Here are some of the best perks offered by home insurance companies:

• State Farm offers a broad national presence and reliable customer service. They also offer a highly-rated digital tool and a Premier Service Program.
• Allstate has an abundance of online tools and coverage options, as well as an extensive network of local agents. They also offer yard and garden coverage, sports equipment property coverage, and electronic data recovery coverage.
• Chubb is ideal for high-value homes and offers risk consulting and a HomeScan tool to help identify potential issues. They also offer wine and spirits coverage, extended replacement cost coverage, and water backup coverage.
• Amica offers dividend policies, special computer coverage, credit card coverage, and increased liability and medical payment coverage. They also have a high rating for customer experience.
• Travelers offer green home coverage, identity protection, and a free home history tool for home buyers.
• Erie offers identity theft coverage, service line coverage, and equipment breakdown coverage. They also have a robust coverage option and high overall customer satisfaction scores.
• USAA is ideal for military members and veterans and offers coverage for military uniforms and equipment, identity theft coverage, and valuable personal property insurance.

Frequently asked questions