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You're a first-time homebuyer who's been looking for the ideal home for months. When the homeowner accepts your bid, you must now learn about a subject that isn't as exciting as home shopping but is equally important: home insurance. Although choosing the best home insurance provider and the right insurance policy for you can seem complicated and confusing, but it is very easy. You must first decide the worth of your home and its contents, and then choose a company and policy that offers the coverage you need at a fair cost.
The best providers offer a wide range of coverage, as well as a mix of affordable pricing and discount options, as well as unique features that allow you to tailor your policy to your specific needs.
Below is the List of Best Homeowners Insurance for your New Property.
Why do we suggest USAA? Service-specific coverages are available because USAA only provides policies to active and former military personnel and their families.
- Headquarters: San Antonio, Texas
- Market share percentage: 6.67%
Present and retired military personnel, as well as their spouses, are catered to by USAA. The company consistently receives high marks for customer service, earning the highest scores in the 2020 J.D. Power U.S. Home Insurance Study, although the provider is not eligible for ranking because of its limited availability.
Despite having a lower average premium than the national average, USAA policyholders may take advantage of a variety of homeowner's insurance discounts.
There are offers for being claims-free for 5 years, purchasing multiple policies, and installing security systems. Special coverage options, such as coverage for military uniforms for active duty or deployed policyholders, are also available via USAA.
According to the NAIC, USAA has received fewer complaints about home insurance from state regulators than would be anticipated for a business of its size.
Why do we think Travelers is a good idea? Policyholders may feel more in charge of their coverage by using unique policy management features, such as the use of an Echo or Alexa system.
- Headquarters: New York City, New York
- Market share percentage: 4.41%
Travellers is a highly open organization, with agents in all 50 states and Washington, D.C. Travellers also have low prices, but it also has a range of discounts to help policyholders save even more money. For example, policyholders whose home has been accredited as environmentally sustainable by the Leadership Energy and Environmental Design (LEED) organization will save up to 5% on their premium.
Travellers also provide a discount on the purchase of a new home. If a policyholder buys a house within the first 12 months of their policy, they will save money.
Other unique features offered by Travelers include the ability to monitor plans using Alexa or Echo, which is a rare feature among the best homeowner’s insurance companies. The Travelers website makes it simple to submit and monitor claims, as well as providing informative materials on basic homeowner's insurance topics.
Why we recommend AAA: While membership is not usually mandatory, AAA members can receive a discount on their home insurance policies.
- Headquarters: Heathrow, Florida
- Market share percentage: 0.89%
While AAA is best known for its roadside assistance, it also provides a variety of insurance products, including homeowners insurance. While AAA functions differently in various states, policyholders are not required to be AAA members to benefit from the home insurance program. However, if you have a subscription, you could be eligible for a discount. AAA has significantly lower average premiums than the national average. However, the company offers several incentives that could help policyholders save even more money on their premiums. Since AAA is a federation of motor clubs throughout the United States, discounts differ by category and state.
4. Amica Mutual
Why do we suggest Amica? A consistently high-ranking claims service gives policyholders the peace of mind that they will be looked after when it matters most.
- Headquarters: Lincoln, Rhode Island
- Market share percentage: 0.86%
Amica is a great choice if you're looking for home insurance with an emphasis on customer service and peace of mind. Amica is praised for its customer support, even though its overall annual premium is higher than the national average. Policyholders at Amica are consistently pleased with the company's claims service. Between 2012 and 2020, Amica topped J.D. Power's annual Property Claims Report for nine years in a row, before slipping to the fourth position in the 2021 study. In terms of claims service, the company continues to outperform the industry average. Amica also has several unique features, such as the Contractor Connection program, which connects policyholders who need home repairs with licensed contractors. Amica also has a one-of-a-kind dividend scheme that allows policyholders to recoup up to 20% of their annual home premium.
Amica also has a strong online customer support department. To pay bills, print ID cards, file claims, and sign papers, policyholders can build an online account.
See also: Advantages of Home Insurance
The following are some of the reasons why we recommend MetLife: Policyholders may choose the coverage they need thanks to highly customizable policies.
- Headquarters: New York City, New York
- Market share percentage: 1.01%
MetLife could be a good place to start your quest for home insurance if you choose to manage your insurance needs online or via an app. MetLife provides customer service 24 hours a day, 7 days a week, so you can get help whenever you need it. Policyholders can access their policies and pay bills via credit card using the MetLife app.
MetLife provides the most versatile and personalized home insurance policy options on our list, allowing policyholders to develop a policy that meets their individual needs.
Policyholders can be eligible for a variety of discounts, including those provided by employer associations.
Why we suggest Allstate: Policyholders will benefit from a wealth of online educational tools that can help them better understand and select their coverages.
- Headquarters: Northbrook, Illinois
- Market share percentage: 8.16%
Allstate's home insurance is transparent and easy to understand, but the company stands out as one of the top homeowner's insurance providers for how it assists policyholders with coverage and claims. Allstate provides educational services on its website to assist first-time homebuyers with the process of purchasing homeowners insurance. It can be difficult to figure out what types of claims are most common in your region, but Allstate has a solution. The tool Popular and Expensive Claims offers data on the most common and costly insurance claims by ZIP code. This expertise aids homeowners in determining the need for additional coverage’s on their insurance plans.