Who are the Top-Rated Homeowners Insurance Companies?
If you are like most Americans, there are few things more important than the well-being and financial security of your family. Part of being financially secure is making sure your home and property are protected in the event of an unexpected loss such as a fire or other natural disaster. If you are not adequately insured, you could experience catastrophic losses. When choosing an insurance company, you want a top-rated company who will be there when you need it most. Some of the criteria you should look at when finding the best homeowners insurance company are customer satisfaction, price, financial strength ratings and claims service.
Here are some of the top-rated homeowners insurance companies according to data gathered from Consumer Reports, Insure.com, J.D. Power & Associates, Standard & Poors, A.M. Best and other insurance rating organizations.
Customer Service and Satisfaction
An insurance company who rates highly in the area of customer satisfaction is one who makes sure the customer's needs are met. If you have a problem with a claim, billing or with changes to your policy; you need your insurance company to respond promptly whether you are calling a customer service telephone number or asking for assistance through the company's website. The companies listed below all rate highly in customer satisfaction levels. One company that deserves special notice is Amica Mutual.
It has the highest customer service rating by J.D. Power & Associates for the past 11 years.
The chart below shows the J.D. Power Homeowners Insurance rankings.
Price and Policy Value
You work hard for your money and you want to make sure the money you spend for a homeowners policy gives you the most value for your dollar. A good value in a homeowners policy gives you the coverage you need at an affordable premium. These companies all rank highly in the area of policy value and affordable premiums. Of these companies, Farmers Insurance, USAA and Country Insurance offer some of the most competitive homeowners insurance policy premiums.
Financial Strength Ratings
Why should you be concerned about the financial strength rating of your insurance company? Financial strength ratings measure a company's ability to pay claims to policyholders and meet other financial obligations. You need to know your insurance company will be around to help you when disaster strikes. Here are some of the top-rated homeowners insurance companies in the area of financial strength according to insurance rating organizations A.M. Best and Standard & Poor's.
A company who provides effective claims service will help you with a claim every step of the way. This includes helping you through the claims filing process, having an adjuster come out to look at your property, making repairs to your home and of course, paying claims in a prompt manner. These companies do it best according to the results of customer satisfaction survey from the top insurance rating organizations. The highest rated companies for claims services are USAA, Amica Mutual, Country Insurance, State Farm and Allstate.
- Amica Mutual
- Country Insurance
- Auto Owner's Insurance
- American Family
- State Farm
When it comes to protecting your family, you have to make sure you choose your homeowners insurance company wisely. Ultimately, only you can make the decision of what homeowners insurance company is right for you based on your own unique situation and needs. Do your homework when shopping for insurance. Making comparisons of which companies have the best ratings in customer service, price, financial strength and claims service will help you make the best choice and get the most policy value for your money.
If you do find that you may need to change your homeowners insurance company, there are several great insurance comparison websites available to begin your search including Compare.com, NetQuote and Insure.com.