Home Insurance: A Complete Guide (2023)
The best home insurance company for you depends on several factors, but the average American pays about $149 a month for home insurance. We'll reveal what you should consider to obtain the best homeowners insurance to protect your dream home, and how you can save by bundling your car and home insurance.
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Kristen Gryglik
Licensed Insurance Agent
Kristen is a licensed insurance agent working in the greater Boston area. She has over 20 years of experience counseling individuals and businesses on which insurance policies best fit their needs and budgets. She knows everyone has their own unique needs and circumstances, and she is passionate about counseling others on which policy is right for them. Licensed in Massachusetts, New Hampshire,...
Licensed Insurance Agent
UPDATED: Aug 3, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
UPDATED: Aug 3, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Home insurance covers the physical structure of your home, your personal belongings, and legal fees or medical expenses if a guest injures themselves on your property
- Some of the best home insurance companies include Lemonade, State Farm, and American Family
- While the average homeowner pays about $149 a month for insurance, you might see much different rates based on your unique circumstances
A good homeowners insurance policy is one of the most important ways to protect your home. Although it’s never required by state law, home insurance is usually a good idea for most homeowners.
Home insurance typically covers the physical structure of your home and your personal belongings. It also protects against lawsuits if a guest is injured on your property. While it covers a lot, homeowners insurance usually doesn’t cover earthquake or flood damage.
From filing a home insurance claim to excellent customer service ratings, researching your options is crucial to protecting your home. Read on to learn more about home insurance, then compare rates with as many companies as possible to find the best home insurance policy.
What are the best home insurance companies?
The best homeowners insurance companies for you depend on a variety of factors, including where you live and how old your house is. However, some companies generally have better reviews than others.
- Home Insurance Companies
- Farmers vs. Geico Homeowners Insurance Review
- Farmers vs. Country Financial Homeowners Insurance Review
- Farmers vs. State Farm Homeowners Insurance Review
- Farmers vs. Liberty Mutual Homeowners Insurance Review
- Farmers vs. USAA Homeowners Insurance Review
- Farmers vs. Nationwide Homeowners Insurance Review
- Farmers vs. American Family Homeowners Insurance Review
- Farmers vs. Erie Homeowners Insurance Review
- Farmers vs. Geovera Homeowners Insurance Review
- Farmers vs. Hippo Homeowners Insurance Review
- Farmers vs. Alfa Homeowners Insurance Review
- Farmers vs. Lemonade Homeowners Insurance Review
- Travelers vs. Alfa Homeowners Insurance Review
- Farmers vs. Travelers Homeowners Insurance Review
- Travelers vs. Geovera Homeowners Insurance Review
- Travelers vs. Country Financial Homeowners Insurance Review
- Allstate vs. Erie Homeowners Insurance Review
- Amica vs. Nationwide Homeowners Insurance Review
- Erie vs. Country Financial Homeowners Insurance Review
- The Hartford vs. Liberty Mutual Homeowners Insurance Review
- USAA vs. Country Financial Homeowners Insurance Review
- Liberty Mutual vs. USAA Homeowners Insurance Review
- Erie vs. Auto Owners Homeowners Insurance Review
- Erie vs. Hippo Homeowners Insurance Review
- Erie vs. Liberty Mutual Homeowners Insurance Review
- Erie vs. Nationwide Homeowners Insurance Review
- Erie vs. The Hartford Homeowners Insurance Review
- Erie vs. USAA Homeowners Insurance Review
- Geico Homeowners Insurance Review
- Hippo vs. Country Financial Homeowners Insurance Review
- Lemonade vs. American Family Homeowners Insurance Review
- Lemonade vs. Chubb Homeowners Insurance Review
- Lemonade vs. USAA Homeowners Insurance Review
- Liberty Mutual vs. Country Financial Homeowners Insurance Review
- Nationwide vs. Geovera Homeowners Insurance Review
- USAA vs. American Family Homeowners Insurance Review
- Auto Owners vs. Nationwide Homeowners Insurance Review
- The Hartford vs. Nationwide Homeowners Insurance Review
- State Farm vs. American Family Homeowners Insurance Review
- State Farm vs. The Hartford Homeowners Insurance Review
- Erie vs. Lemonade Homeowners Insurance Review
- The Hartford vs. USAA Homeowners Insurance Review
- Chubb vs. Hippo Homeowners Insurance Review
- Progressive vs. Nationwide Homeowners Insurance Review
- The Hartford vs. Amica Homeowners Insurance Review
- Hippo vs. Travelers Homeowners Insurance Review
- Amica vs. Chubb Homeowners Insurance Review
- The Hartford vs. Geico Homeowners Insurance Review
- American Family vs. Alfa Homeowners Insurance Review
- Auto Owners vs. Country Financial Homeowners Insurance Review
- State Farm vs. Allstate Homeowners Insurance Review
- Allstate vs. Alfa Homeowners Insurance Review
- Amica vs. Alfa Homeowners Insurance Review
- American Family vs. Hippo Homeowners Insurance Review
- Liberty Mutual vs. Geovera Homeowners Insurance Review
- The Hartford vs. Hippo Homeowners Insurance Review
- The Hartford vs. Travelers Homeowners Insurance Review
- Erie vs. Amica Homeowners Insurance Review
- The Hartford vs. Geovera Homeowners Insurance Review
- Chubb vs. Geovera Homeowners Insurance Review
- Hippo vs. Geovera Homeowners Insurance Review
- Progressive vs. USAA Homeowners Insurance Review
- Nationwide vs. Country Financial Homeowners Insurance Review
- USAA vs. Nationwide Homeowners Insurance Review
- Country Financial vs. Alfa Homeowners Insurance Review
- Auto Owners vs. Lemonade Homeowners Insurance Review
- The Hartford vs. Country Financial Homeowners Insurance Review
- Erie vs. Chubb Homeowners Insurance Review
- Allstate vs. American Family Homeowners Insurance Review
- Allstate vs. Amica Homeowners Insurance Review
- Allstate vs. Auto Owners Homeowners Insurance Review
- Allstate vs. Chubb Homeowners Insurance Review
- Allstate vs. Country Financial Homeowners Insurance Review
- Allstate vs. Geico Homeowners Insurance Review
- Allstate vs. Geovera Homeowners Insurance Review
- Allstate vs. Hippo Homeowners Insurance Review
- Allstate vs. Lemonade Homeowners Insurance Review
- Allstate vs. Liberty Mutual Homeowners Insurance Review
- Allstate vs. Nationwide Homeowners Insurance Review
- Allstate vs. Progressive Homeowners Insurance Review
- Allstate vs. The Hartford Homeowners Insurance Review
- Allstate vs. Travelers Homeowners Insurance Review
- Allstate vs. USAA Homeowners Insurance Review
- American Family vs. Travelers Homeowners Insurance Review
- Amica vs. American Family Homeowners Insurance Review
- Amica vs. Country Financial Homeowners Insurance Review
- Amica vs. Geovera Homeowners Insurance Review
- Amica vs. Hippo Homeowners Insurance Review
- Amica vs. Lemonade Homeowners Insurance Review
- Amica vs. Liberty Mutual Homeowners Insurance Review
- Amica vs. Progressive Homeowners Insurance Review
- Amica vs. Travelers Homeowners Insurance Review
- Amica vs. USAA Homeowners Insurance Review
- Auto Owners vs. Alfa Homeowners Insurance Review
- Auto Owners vs. American Family Homeowners Insurance Review
- Auto Owners vs. Chubb Homeowners Insurance Review
- Auto Owners vs. Geico Homeowners Insurance Review
- Auto Owners vs. Geovera Homeowners Insurance Review
- Auto Owners vs. Liberty Mutual Homeowners Insurance Review
- Auto Owners vs. Progressive Homeowners Insurance Review
- Auto Owners vs. Travelers Homeowners Insurance Review
- Auto Owners vs. USAA Homeowners Insurance Review
- Lemonade vs. Alfa Homeowners Insurance Review
- Chubb vs. Travelers Homeowners Insurance Review
- Erie vs. Progressive Homeowners Insurance Review
- Erie vs. Travelers Homeowners Insurance Review
- Geico vs. Alfa Homeowners Insurance Review
- Geico vs. American Family Homeowners Insurance Review
- Geico vs. Amica Homeowners Insurance Review
- Geico vs. Chubb Homeowners Insurance Review
- Geico vs. Country Financial Homeowners Insurance Review
- Geico vs. Geovera Homeowners Insurance Review
- Geico vs. Hippo Homeowners Insurance Review
- Geico vs. Lemonade Homeowners Insurance Review
- Geico vs. Liberty Mutual Homeowners Insurance Review
- Geico vs. Nationwide Homeowners Insurance Review
- Geico vs. Progressive Homeowners Insurance Review
- Geico vs. USAA Homeowners Insurance Review
- Lemonade vs. Country Financial Homeowners Insurance Review
- Lemonade vs. Geovera Homeowners Insurance Review
- Lemonade vs. Hippo Homeowners Insurance Review
- Lemonade vs. Liberty Mutual Homeowners Insurance Review
- Lemonade vs. Nationwide Homeowners Insurance Review
- Lemonade vs. Progressive Homeowners Insurance Review
- Lemonade vs. Travelers Homeowners Insurance Review
- Liberty Mutual vs. Alfa Homeowners Insurance Review
- Liberty Mutual vs. Chubb Homeowners Insurance Review
- Liberty Mutual vs. Hippo Homeowners Insurance Review
- Liberty Mutual vs. Nationwide Homeowners Insurance Review
- Nationwide vs. Alfa Homeowners Insurance Review
- Nationwide vs. American Family Homeowners Insurance Review
- Nationwide vs. Chubb Homeowners Insurance Review
- Nationwide vs. Hippo Homeowners Insurance Review
- Nationwide vs. Travelers Homeowners Insurance Review
- Progressive vs. Alfa Homeowners Insurance Review
- Progressive vs. American Family Homeowners Insurance Review
- Progressive vs. Chubb Homeowners Insurance Review
- Progressive vs. Country Financial Homeowners Insurance Review
- Progressive vs. Geovera Homeowners Insurance Review
- Progressive vs. Hippo Homeowners Insurance Review
- Progressive vs. Liberty Mutual Homeowners Insurance Review
- Progressive vs. Travelers Homeowners Insurance Review
- State Farm vs. Alfa Homeowners Insurance Review
- State Farm vs. Amica Homeowners Insurance Review
- State Farm vs. Auto Owners Homeowners Insurance Review
- State Farm vs. Chubb Homeowners Insurance Review
- State Farm vs. Country Financial Homeowners Insurance Review
- State Farm vs. Erie Homeowners Insurance Review
- State Farm vs. Hippo Homeowners Insurance Review
- State Farm vs. Lemonade Homeowners Insurance Review
- State Farm vs. Liberty Mutual Homeowners Insurance Review
- State Farm vs. Nationwide Homeowners Insurance Review
- State Farm vs. Progressive Homeowners Insurance Review
- State Farm vs. Travelers Homeowners Insurance Review
- State Farm vs. USAA Homeowners Insurance Review
- The Hartford vs. Alfa Homeowners Insurance Review
- USAA vs. Geovera Homeowners Insurance Review
- USAA vs. Hippo Homeowners Insurance Review
- USAA vs. Travelers Homeowners Insurance Review
- Liberty Mutual vs. American Family Homeowners Insurance Review
- Farmers vs. Amica Homeowners Insurance Review
- State Farm Homeowners insurance Review
- Geico vs. Travelers Homeowners Insurance Review
- Auto Owners vs. Hippo Homeowners Insurance Review
- USAA vs. Chubb Homeowners Insurance Review
- Farmers vs. Progressive Homeowners Insurance Review
- Farmers vs. The Hartford Homeowners Insurance Review
- Erie vs. American Family Homeowners Insurance Review
- State Farm vs. Geovera Homeowners Insurance Review
- USAA vs. Alfa Homeowners Insurance Review
- Farmers vs. Chubb Homeowners Insurance Review
- Farmers vs. Allstate Homeowners Insurance Review
- Alfa Homeowners Insurance Review
- Amica Homeowners Insurance Review
- Country Financial Homeowners Insurance Review
- Geovera Homeowners Insurance Review
- Hippo Homeowners Insurance Review
- Chubb vs. Country Financial Homeowners Insurance Review
- Erie vs. Geico Homeowners Insurance Review
- Erie vs. Geovera Homeowners Insurance Review
- Liberty Mutual vs. Travelers Homeowners Insurance Review
- The Hartford vs. Auto Owners Homeowners Insurance Review
- The Hartford vs. Chubb Homeowners Insurance Review
- The Hartford vs. American Family Homeowners Insurance Review
- American Family vs. Geovera Homeowners Insurance Review
- Country Financial vs. Geovera Homeowners Insurance Review
- American Family vs. Chubb Homeowners Insurance Review
- Erie vs. Alfa Homeowners Insurance Review
- Lemonade Homeowners Insurance Review
- Liberty Mutual Homeowners Insurance Review
- Hippo vs. Alfa Homeowners Insurance Review
- Progressive Homeowners Insurance Review
- Travelers Homeowners insurance Review
- USAA Homeowners Insurance Review
- The Hartford vs. Progressive Homeowners Insurance Review
- The Hartford vs. Lemonade Homeowners Insurance Review
- Chubb vs. Alfa Homeowners Insurance Review
- American Family Homeowners Insurance Review
- American Family vs. Country Financial Homeowners Insurance Review
- Erie Homeowners Insurance Review
- Allstate Homeowners Insurance Review
- Auto Owners Homeowners Insurance Review
- Chubb Homeowners Insurance Review
- Nationwide Homeowners insurance Review
- The Hartford Homeowners insurance Review
- Auto Owners vs. Amica Homeowners Insurance Review
- American Integrity Homeowners Insurance Review & Ratings (2023)
- Universal Property Insurance Review & Ratings (2023)
- Security First Insurance Company Insurance Review & Ratings (2023)
- Homeowners of America Insurance Company Review & Ratings (2023)
- Builders Insurance Group Insurance Review & Ratings (2023)
- Southern Oak Homeowners Insurance Review & Ratings (2023)
- Goodville Mutual Property Insurance Review & Ratings (2023)
- Narragansett Bay Homeowners Insurance Review & Ratings (2023)
- American Strategic Insurance Review & Ratings (2023)
- Southern Fidelity Insurance Company Insurance Review & Ratings (2023)
- Spinnaker Insurance Company Review & Ratings (2023)
- Swyfft Homeowners Insurance Review & Ratings (2023)
- Frontline Insurance Homeowners Insurance Review & Ratings (2023)
- Arch Insurance Review & Ratings (2023)
- FedNat Insurance Review & Ratings (2023)
- American Risk Insurance Review & Ratings (2023)
- Centauri Homeowners Insurance Review & Ratings (2023)
- Goodville Mutual Insurance Review & Ratings (2023)
- Wellington Insurance Review & Ratings (2023)
- SafePoint Insurance Review & Ratings (2023)
- Assurant Mobile Home Insurance Review & Ratings (2023)
- SageSure Insurance Review & Ratings (2023)
- Adirondack Homeowners Insurance Review & Ratings (2023)
- Nationwide Home Insurance Review & Ratings (2023)
- Castle Key Homeowners Insurance Review & Ratings (2023)
- UPC Homeowners Insurance Review & Ratings (2023)
- Kingstone Homeowners Insurance Review & Ratings (2023)
- Deans & Homer Insurance Review & Ratings (2023)
- Berkshire Hathaway Homestate Companies Insurance Review & Ratings (2023)
- American Modern Home Insurance Review & Ratings (2023)
- Home Insurance by State
- Best Homeowners Insurance in Arizona
- Best Homeowners Insurance in Arkansas
- Best Homeowners Insurance in Austin, TX
- Best Homeowners Insurance in California
- Best Homeowners Insurance in Chicago, IL
- Best Homeowners Insurance in Colorado
- Best Homeowners Insurance in Connecticut
- Best Homeowners Insurance in Hartford, CT
- Best Homeowners Insurance in Hawaii
- Best Homeowners Insurance in Idaho
- Best Homeowners Insurance in Illinois
- Best Homeowners Insurance in Iowa
- Best Homeowners Insurance in Kansas City, MO
- Best Homeowners Insurance in Louisiana
- Best Homeowners Insurance in Maine
- Best Homeowners Insurance in Maryland
- Best Homeowners Insurance in Massachusetts
- Best Homeowners Insurance in Miami, FL
- Best Homeowners Insurance in Michigan
- Best Homeowners Insurance in Milwaukee, WI
- Best Homeowners Insurance in Minnesota
- Best Homeowners Insurance in Montana
- Best Homeowners Insurance in New Hampshire
- Best Homeowners Insurance in New Jersey
- Best Homeowners Insurance in New Mexico
- Best Homeowners Insurance in New York
- Best Homeowners Insurance in North Carolina
- Best Homeowners Insurance in Ohio
- Best Homeowners Insurance in Oklahoma
- Best Homeowners Insurance in Oregon
- Best Homeowners Insurance in Orlando, FL
- Best Homeowners Insurance in Pennsylvania
- Best Homeowners Insurance in Pittsburgh, PA
- Best Homeowners Insurance in Rhode Island
- Best Homeowners Insurance in San Francisco, CA
- Best Homeowners Insurance in New York City, NY
- Best Homeowners Insurance in Vermont
- Best Homeowners Insurance in Washington
- Best Homeowners Insurance in Wyoming
- Best Homeowners Insurance in Florida
- Best Homeowners Insurance in Kentucky
- Best Homeowners Insurance in Cincinnati, OH
- Best Homeowners Insurance in Delaware
- Best Homeowners Insurance in Indiana
- Best Homeowners Insurance in Missouri
- Best Homeowners Insurance in Nebraska
- Best Homeowners Insurance in Nevada
- Best Homeowners Insurance in North Dakota
- Best Homeowners Insurance in Sacramento, CA
- Best Homeowners Insurance in Tennessee
- Best Utah Homeowners Insurance Agents & Brokers (2023)
- Best South Carolina Homeowners Insurance Agents & Brokers (2023)
- Best Wisconsin Homeowners Insurance Agents & Brokers (2023)
- Best Alaska Homeowners Insurance Agents & Brokers (2023)
- Best Kansas Homeowners Insurance Agents & Brokers (2023)
- Best Rhode Island Homeowners Insurance Agents & Brokers (2023)
- Best Pennsylvania Homeowners Insurance Agents & Brokers (2023)
- Best Massachusetts Homeowners Insurance Agents & Brokers (2023)
- Best Wyoming Homeowners Insurance Agents & Brokers (2023)
- Best West Virginia Homeowners Insurance Agents & Brokers (2023)
- Best North Carolina Homeowners Insurance Agents & Brokers (2023)
- Best Kentucky Homeowners Insurance Agents & Brokers (2023)
- Best Iowa Homeowners Insurance Agents & Brokers (2023)
- Best New Hampshire Homeowners Insurance Agents & Brokers (2023)
- Best Texas Homeowners Insurance Agents & Brokers (2023)
- Best South Dakota Homeowners Insurance Agents & Brokers (2023)
- Best Florida Homeowners Insurance Agents & Brokers (2023)
- Best Delaware Homeowners Insurance Agents & Brokers (2023)
- Home Insurance by Applicant Profile
Listed below are some of the top home insurance companies on the market. Although there are several things to consider before choosing a policy, the following home insurance companies are an excellent place to start looking for coverage.
Lemonade Home Insurance
Lemonade is a little different than many of its competitors. Rather than offering physical offices customers can visit, Lemonade offers a completely virtual insurance experience.
Although Lemonade is only available in 37 states and the District of Columbia, it still receives top marks for home insurance. It’s also one of the most expensive homeowners insurance companies, with only Allstate beating it for the highest rates.
Lemonade offers one of the longest lists of home insurance add-on lists, including equipment breakdown, water backup, and swimming pool coverage.
Despite having higher rates, most customers love Lemonade home insurance. One of the most popular reasons why people love Lemonade home insurance is that filing claims, managing policies, and getting help are incredibly easy with its online tools. Moreover, Lemonade car insurance discounts can further sweeten the deal for homeowners looking to bundle their coverage and save on multiple policies.
State Farm Home Insurance
While State Farm car insurance is probably better known, State Farm also has excellent home insurance. When you buy a homeowners insurance policy from State Farm, you’ll have the option for a bundling discount if you also purchase coverage for your vehicle.
State Farm home insurance is available in all 50 states. It also receives better reviews for its home insurance than car insurance. Although State Farm has quality policies, it’s one of the cheapest house insurance companies on the market.
State Farm doesn’t have as many add-ons as Lemonade, but it does offer some valuable protection. It provides protection from identity theft and inflation, as well as extra coverage for your most valuable possessions.
Read out State Farm insurance review to find out more.
American Family Home Insurance
Another company better known for its car insurance, American Family sells home insurance in only 23 states. American Family runs CONNECT, which sells and manages home insurance policies for Costco customers. If you buy homeowners insurance through Costco, CONNECT operates in 44 states.
American Family has the benefit of being one of the cheapest companies for home insurance. It doesn’t have the most add-ons, but there are a few good ones to choose from. One that stands out is its matching siding add-on. It will replace all the sidings on your house if one gets damaged so that everything matches.
Like State Farm, you’ll likely get a discount if you bundle multiple insurance policies. You’ll have multiple ways to manage your policy as well — American Family customers can use the website or mobile app, speak with a representative on the phone, or visit a local office.
Check out our American Family insurance review to learn more.
Nationwide Home Insurance
Despite what its name suggests, Nationwide home insurance is not available in every state. Residents of Alaska, Hawaii, Louisiana, New Mexico, Florida, Massachusetts, and New Jersey will need to look elsewhere for homeowners insurance.
If you live in a state Nationwide operates in, it will probably be one of your cheapest options. As a bonus, Nationwide includes identity theft protection in every standard homeowners insurance policy it sells.
Nationwide offers several add-ons for your home insurance, including earthquake and flood coverage, upgraded roof replacement, and extra coverage for valuable possessions like antiques and art. Along with a solid list of add-ons, Nationwide also offers several discounts.
Visit our Nationwide home insurance review to learn more.
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What are the cheapest home insurance companies?
While the companies listed above offer some of the best home insurance on the market, they’re not always the cheapest. If sticking to a budget is important to you, the following companies usually offer cheap home insurance rates:
- Erie Insurance
- Auto-Owners Insurance
- State Farm
- Nationwide
- Travelers
See our Erie Insurance review, Auto-Owners insurance review, and Travelers insurance review for details.
While these are some of the cheapest companies for home insurance, you might find lower rates elsewhere. Companies look at a variety of factors when determining your rates, so it’s important to compare multiple quotes when determining how much home insurance costs. You should also understand what factors companies use to craft those quotes, which include the following:
- Location: Like most other types of insurance, where you live plays a big role in your home insurance rates. If you live in an area with higher crime rates or extreme weather, you’ll probably pay more for insurance.
- Price of your home: The more it costs to build your home, the more you’ll pay for insurance. Expensive houses cost more to repair or replace, which leads to larger insurance bills.
- Your home’s age: There are two main reasons older houses tend to cost more to insure. First, they tend to be made with more expensive materials, which your company will have to pay for. They also tend to need more repairs, which increases your chances of making a claim.
- Amount of coverage: Simply put, the more insurance you buy, the more you’ll have to pay.
- Home features: Most insurance companies offer discounts or lower rates to homeowners who have installed safety features like smoke alarms, deadbolts on their doors, or security systems.
- Credit history: Most states allow insurance companies to look at your credit score to determine how much you’ll pay for coverage. Homeowners with lower insurance scores will pay more for their insurance.
As you can see, there are a lot of factors that affect your insurance. This is why comparing quotes is so important — some companies are more forgiving of certain factors than others. For example, Kemper Insurance might be your most affordable option if you have a low credit score.
Read more: Kemper Car Insurance Discounts
The state you live in will also help determine which company is the cheapest for you. For example, Allstate is often one of the most expensive options for home insurance. In Oklahoma, however, it’s one of the cheapest options.
Which companies offer the best home and car insurance bundles?
Bundling different types of insurance policies from the same company is a great way to earn a discount on your coverage. Home and car insurance are some of the most commonly purchased policies, so most major companies sell both.
If you’re looking for the best car and home insurance discounts, here are the companies that offer bundle options:
- State Farm: According to State Farm, customers can save up to 20% on their policies for bundling home and car insurance. You can also earn this discount if you have a condo or renters insurance policy.
- Allstate: It might not be the cheapest company, but bundling home and car insurance can save you up to 25% on your Allstate policy.
- Farmers: Farmers offers up to 20% off your insurance if you buy a new car and homeowners policy at the same time. You’ll still get a discount if you add them separately, but it will be a little less.
- Nationwide: Nationwide is one of the few companies that offers a bundling discount for more than just car and home insurance combinations. If you buy home, car, and life insurance, you’ll see even bigger savings.
- American Family: You can save up to 23% on your home and car insurance if you bundle both from American Family.
Learn more through our Allstate insurance review and Farmers insurance review.
Beyond saving you money, another great reason to bundle your insurance is that it makes it easier to manage multiple policies. Having everything in the same account makes handling payments and starting claims much simpler.
What does home insurance cover?
While every plan is different, most homeowners insurance policies have the same basic features. Here’s what a typical homeowners insurance policy covers:
- Dwelling protection: This portion of your home insurance covers the physical structure of your house and detached structures like fences or garages. Most plans cover damage from fire and smoke, theft, vandalism, and most types of weather.
- Personal liability: Liability covers you if someone is injured on your property. It covers legal fees if you’re sued and the injured guest’s medical bills.
- Personal property: Your home is made up of a lot more than the walls and roof. Your insurance covers your personal belongings, including furniture, appliances, and clothing.
- Additional living expenses: If your home becomes unliveable, your insurance will cover your living expenses while your house is repaired or replaced. Every plan is different, but most policies cover hotel or other lodgings, restaurant meals, and pet boarding.
A standard home insurance policy covers a lot, but it doesn’t cover everything. If you live in an area at a higher risk of earthquakes or floods, you should consider buying earthquake or flood insurance. A standard policy won’t cover damage from these natural disasters, leaving you without coverage if something happens to your home.
You should also consider alternative insurance if you have a mobile or manufactured home. Manufactured and mobile home insurance works similarly to a standard home policy but is specially crafted for prefab homes.
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How do you choose the best home insurance policy?
Choosing the right home insurance policy might sound confusing, but it doesn’t have to be a challenge. When you’re looking for home insurance, consider the following tips:
- Decide how much coverage you need. To determine how much coverage you need, consider how much it will cost to rebuild your home, the value of your possessions, and the risks of the area you live in.
- Pick a company. You saw above that prices are significantly different between companies. You’ll also have access to different coverage options and discounts, depending on the company you shop with.
- Choose your policy. Once you know how much coverage you need, the final step is to pick a plan. Make sure to compare multiple quotes to find the best price possible.
When you’re looking for the best homeowners insurance policy, you must compare rates with multiple companies. Home insurance can be expensive, and you’ll likely overpay if you don’t compare rates.
Find the Best Home Insurance Policy Today
Whether you live in a mansion or a tiny house, homeowners insurance is a crucial aspect of protecting your home. Comparing your options is an essential step in protecting everything that makes your house a home.
When you’re ready to buy a homeowners insurance policy, looking at multiple quotes is the best way to find affordable coverage. While you saw that some companies have the lowest average rates, the company best for you might be different.
Frequently Asked Questions
What is home insurance?
Home insurance, also known as homeowner’s insurance, is a type of insurance policy that provides financial protection against damage or loss to your home and its contents caused by certain perils, such as fire, theft, and weather events.
What does home insurance typically cover?
Home insurance typically covers damage or loss caused by fire, lightning, windstorm or hail, theft, vandalism, and other specific perils. It also covers liability protection for accidents that occur on your property, as well as additional living expenses if your home is uninhabitable due to covered damage.
What is not covered by home insurance?
Home insurance typically does not cover damage or loss caused by floods, earthquakes, and other natural disasters. It also typically does not cover wear and tear, intentional damage, and damage caused by neglect or lack of maintenance.
What factors affect the cost of home insurance?
The cost of home insurance can be affected by various factors, including the location and age of your home, its construction materials, the coverage limits you choose, and your deductible. Your credit score and claims history can also affect your premium.
How much home insurance do I need?
The amount of home insurance you need depends on various factors, including the value of your home and its contents, your liability risks, and your budget. It’s important to ensure that you have enough coverage to fully protect your home and assets in the event of a loss.
How can I lower my home insurance premium?
There are several ways to lower your home insurance premium, such as increasing your deductible, bundling your home and auto insurance with the same insurer, installing home security systems, and maintaining a good credit score.
How do I file a home insurance claim?
To file a home insurance claim, you should contact your insurance company as soon as possible after a loss occurs. Your insurer will likely ask you to provide documentation and evidence of the loss, such as photos and receipts, and may send an adjuster to assess the damage.
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Kristen Gryglik
Licensed Insurance Agent
Kristen is a licensed insurance agent working in the greater Boston area. She has over 20 years of experience counseling individuals and businesses on which insurance policies best fit their needs and budgets. She knows everyone has their own unique needs and circumstances, and she is passionate about counseling others on which policy is right for them. Licensed in Massachusetts, New Hampshire,...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.