Best Home Insurance Companies of 2023

The top-rated homeowners insurance companies of 2023 include State Farm, Auto-Owners and Travelers. Insure.com ranked the best home insurance companies based on our survey of current customers, third-party ratings and average home insurance rates

Written by: Leslie Kasperowicz | Reviewed by: John McCormickquality verified
John McCormick
John McCormick

John is the editorial director for CarInsurance.com, Insurance.com and Insure.com. Before joining QuinStreet, John was a deputy editor at The Wall Street Journal and had been an editor and reporter at a number of other media outlets where he covered insurance, personal finance, and technology.

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Finding the best homeowners insurance company for your home can be a challenge, whether it’s your first home or you’re just looking to find a better deal.

To help you determine which company might be right for you, we’ve gathered and analyzed the top home insurers’ rate data, financial stability scores and complaint records. We polled their customers to assess each company’s level of customer satisfaction, its claims handling ability and its policy offerings. We also asked if they trusted their insurance company, if they planned to renew their current policy and what they thought about their insurer’s website and app.

Based on that data and other important insurance metrics, we rated the best home insurance companies of 2023 and gave each from one to five stars.

The top home insurer for 2023 is State Farm, according to our analysis, followed by Auto-Owners and Travelers. We also found that some insurance companies shine in particular categories. So, in addition to the top-rated home insurance companies overall, we’ve listed the best companies for cheap rates, ease of service and more.

A list of the top homeowners insurance companies and a review of each is below.

Choosing the best insurance company takes research, and knowing what to look for is important. 

“Your insurance company and its representatives should answer your questions and handle your claims fairly, efficiently and quickly. You can get a feel for whether this is the case by talking to other customers who have used a particular company or agent,” says Mark Friedlander, corporate communications director for industry trade group the Insurance Information Institute. “Your state insurance department will be able to tell you if the insurance company you are considering doing business with had many consumer complaints about its service relative to the number of policies it sold.”

What are the best home insurance companies?

Among the companies surveyed by Insure.com, a list of nine winners emerged. State Farm is the No. 1 home insurance company for 2023, followed by Auto-Owners and Travelers. All of the top companies on this list have pros and cons, and all are good home insurance companies. However, when compared on everything from customer survey results to National Association of Insurance Commissioners (NAIC) complaint data, some came out stronger than others.

Here are Insure.com’s best homeowners insurance companies for 2023 with their rankings:

Rank Company Overall rating Customer satisfaction rating Learn more
1 1. State Farm Overall rating
4.6
 Customer satisfaction rating: 
4.6
State Farm insurance review
2 2. Auto-Owners Overall rating
4.0
 Customer satisfaction rating: 
4.4
Auto-Owners insurance review
3 3. Travelers Overall rating
3.6
 Customer satisfaction rating: 
4.4
Travelers insurance review
4 4. Allstate Overall rating
3.5
 Customer satisfaction rating: 
4.4
Allstate insurance review
5 5. Erie Overall rating
3.4
 Customer satisfaction rating: 
4.4
Erie insurance review
6 6. Progressive Overall rating
3.1
 Customer satisfaction rating: 
4.3
Progressive insurance review
7 7. Nationwide Overall rating
3.0
 Customer satisfaction rating: 
4.1
Nationwide insurance review
8 8. American Family Overall rating
2.9
 Customer satisfaction rating: 
4.4
American Family insurance review
9 9. Farmers Overall rating
2.4
 Customer satisfaction rating: 
3.8
Farmers insurance review

How we picked Insure.com’s top-rated home insurance companies

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60+

Carriers reviewed
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1500

Insurance consumers surveyed
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65+

Insurance metrics examined
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14.7M

ZIP codes examined

Insure.com in the fall of 2022 surveyed more than 1,500 people about insurance. The survey was conducted by online market research company Slice MR. Respondents were asked to rank their home insurers.

The editors then selected – based on the number of survey responses – the top companies for further evaluation. 

Insure.com’s editors gathered and analyzed the companies’ rate data, National Association of Insurance Commissioners’ complaint scores, AM Best financial stability grades and more to make their selection of the nation’s best insurance companies. The full methodology for the rankings is found at the bottom of the page.

“You buy insurance to protect you and your family financially and provide peace of mind. Select a company that is likely to be financially sound for many years and can pay its claims. We suggest you check the financial strength ratings of insurers you are considering. An agent can help you obtain reports from third-party financial rating bureaus,” Friedlander says.

USAA is excluded from our overall ranking of the best companies for homeowners insurance because it only provides services to members of the military community. Liberty Mutual and Safeco also were omitted from our rankings because they don’t provide pricing information – one of our key rating metrics – to our data partner Quadrant Information Services. Some other familiar names also didn’t make the list because those companies didn’t generate enough survey responses.

Top homeowners insurance companies in specific categories

Insurance companies are all different, and so are homes and their owners. Some companies might be a better choice for a specific need than others. To help you find the company that’s a perfect match, we selected the best companies for certain situations and needs. For this list, we expanded the companies we evaluated beyond the top nine – including companies such as USAA and The Hartford, which were excluded from the overall rankings but performed notably well in our survey.

  • Best for cheap rates: Amica
  • Best for customer satisfaction: State Farm
  • Best for ease of service: Travelers
  • Best for policy offerings: Auto-Owners
  • Most recommended: State Farm
  • Most trustworthy: State Farm
  • Best for renewals: USAA

The top-rated home insurance companies of 2023

Here are the best home insurance companies of 2023, ranked one to nine. All of these companies are solid picks for your homeowners insurance needs, but to help you choose we’ve rated them for everything from price to financial stability and surveyed current customers to get their take on where each company shines.

State Farm

State Farm
State Farm
Average Premium
Customer Satisfaction
NAIC
AM Best Rating
A++
Learn More

State Farm is the No. 1 company for home insurance in 2023, based on high scores from current customers and a wide variety of policy options. It received 4.6 out of 5 stars. In the Insure.com survey, it ranked at the top for customer satisfaction; 93% of customers said they were satisfied with State Farm overall. It’s also the home insurer most recommended to others by current customers; in the survey, 97% said they would recommend State Farm to others.

State Farm has a long history, is financially stable, and is the biggest home insurance company in the country. It has an AM Best rating of A++, the best possible rating. It’s one of the top-rated home and auto insurance companies, making it good for bundling.

Auto-Owners

Auto-Owners
Auto-Owners
Average Premium
Customer Satisfaction
NAIC
AM Best Rating
A++
Learn More

Auto-Owners is a smaller company, but its excellent customer service, competitive rates, and a wide variety of policy offerings land it second only to State Farm. The company earned 4 out of 5 stars. The Insure.com survey found that 89% of Auto-Owners customers would recommend the company to others, and it matches State Farm’s top AM Best rating of A++.

Home insurance discounts with Auto-Owners are a big part of the company’s appeal, and that includes the auto and home bundling discount. Auto-Owners isn’t available in every state and doesn’t provide quotes online, but those drawbacks don’t keep it from the No. 2 spot.

Travelers

Travelers
Travelers
Average Premium
Customer Satisfaction
NAIC
AM Best Rating
A++
Learn More

Travelers is outstanding for customer service and policy offerings, and 94% of customers in the survey said they’d recommend it to others for home insurance. It earned 3.6 out of 5 stars. Customers are satisfied with the ease of service and policy offerings and scored the company well across the survey.

Travelers earned AM Best’s top A++ rating for financial stability, which means the company is on solid financial ground. Travelers is a good company for one-stop shopping as well, offering a wide variety of policies to keep everything in one place and a multi-policy discount.

Allstate

Allstate
Allstate
Average Premium
Customer Satisfaction
NAIC
AM Best Rating
A+
Learn More

One of the biggest names in home insurance, Allstate is a great pick for homeowners, with some of the lowest average rates across all companies surveyed. Multi-policy bundling discounts help rates look even better to insurance shoppers.

Allstate customers do feel they’re in good hands, as 89% of those surveyed said they plan to renew their home insurance with the company. AM Best agrees, giving Allstate an A+ rating for financial stability. The company earned 3.5 out of 5 stars.

Erie

Erie
Erie
Average Premium
Customer Satisfaction
NAIC
AM Best Rating
A+
Learn More

One of the smaller companies on the best home insurance companies list, Erie still packs a punch. It earned 3.4 out of 5 stars. The company was highly rated by customers in the survey and beats many competitors on rates, even much bigger companies.

Although Erie isn’t available in all states, it’s a good pick for anyone in its service area. With many policy options available and a good-sized auto and home bundling discount of 17%, it offers solid coverage and value. It’s also financially stable, and customers largely plan to renew.

Progressive

Progressive
Progressive
Average Premium
Customer Satisfaction
NAIC
AM Best Rating
A+
Learn More

Progressive has risen to become one of the biggest insurance companies in the nation, and while it’s typically been known for car insurance, it’s become a very popular pick for home insurance as well. It earned 3.1 out of 5 stars and lands at No. 6 on our list of the best home insurance companies.

The vast majority of Progressive customers – 92% – said they’d recommend the company in our survey. And its rates are below average, making it an affordable pick.

Nationwide

Nationwide
Nationwide
Average Premium
Customer Satisfaction
NAIC
AM Best Rating
A+
Learn More

Landing in the No. 7 spot on the best home insurance companies list is Nationwide, a company that offers a wide variety of coverage options beyond home insurance, making it a good place to bundle. Its auto and home bundling discount is one of the bigger ones as well, at 22%, which could save homeowners a lot of money. The company received 3 out of 5 stars.

Nationwide’s home insurance rates come in just under the national average, but with the many discount options, those rates could easily be a lot lower. The company has a solid reputation as well as a good financial standing.

American Family

American Family
American Family
Average Premium
Customer Satisfaction
NAIC
AM Best Rating
A
Learn More

American Family’s rates are below the national average, and customers rated it highly for claims service, earning it the eighth-place spot on the list of best insurance companies. In the survey, 94% of customers said they would recommend American Family to others. That ties the company for second place as the most recommended in the survey. The company earned 2.9 out of 5 stars.

American Family has a good suite of discounts for home insurance and a solid financial rating from AM Best.

Farmers

Farmers
Farmers
Average Premium
Customer Satisfaction
NAIC
AM Best Rating
A
Learn More

Farmers landed in the No. 9 spot on the best insurance companies list for 2023 with a good score for claims handling in the survey. Although J.D. Power scores weren’t used in our rankings, that lines up with the company’s high rating from J.D. Power for claims satisfaction. The company received 2.4 out of 5 stars.

Although Farmers rates were a little above average, the company has a good list of discounts and offers a 15% auto and home bundling discount as well. That means there are plenty of ways to save.

The top home insurance companies for price, customer service, and more

Whether you are on a tight budget or price matters less to you than excellent customer service, the right insurance company for you is out there. To help you find it, we have gathered the data and listed the best insurance companies for price, policy offerings, ease of service, customer satisfaction, and more.

Best home insurance companies for cheap rates

There’s no way around it: price matters. Home insurance can be very expensive, but prices vary quite a bit by company. Of the companies we ranked, Allstate had the lowest rates.

Amica was not included in the rankings because we didn’t receive enough responses from that company’s customers to compare it. However, we did obtain rates for Amica, which were lower than any company in the survey at $1,622 a year on average.

Insurance company Average annual rate
Amica $1,622
Allstate $1,895
Auto-Owners $2,034

Best home insurance companies for customer satisfaction

State Farm came out on top when customers were asked about their overall satisfaction with their insurer. USAA, which is included here, although the company was not ranked, earned second place. Auto-Owners came in third, not far behind. Only one company, Farmers (at 75%), scored below 80% for overall satisfaction, but these three companies stood out.

Insurance company Percent of customers who said they were great
State Farm 93%
USAA 91%
Auto-Owners 89%

Best home insurance companies for customer ease of service

No one wants a hassle when dealing with an insurance company, so it’s important to make sure your insurer makes it easy to access things like policy documents and to get service when you need it.

Travelers is the best insurance company for ease of service, with Progressive in second place, followed by Auto-Owners. The scores for these three companies were very close, and many other companies were not far behind, either.

Insurance company Percent of customers who said they were great
Travelers 91%
Progressive 90%
Auto-Owners 89%

Best home insurance companies for policy offerings

Getting the coverage you need from your insurance company makes shopping easier. We asked customers to rate their insurer for policy offerings, and Auto-Owners was the clear winner. Travelers landed as the runner-up, and Progressive wasn’t far behind.

Insurance company Percent of customers who said they were great
Auto-Owners 94%
Travelers 91%
Progressive 90%

Most recommended home insurance company

A lot of people choose an insurance company based on recommendations, so we asked our survey respondents how likely they are to recommend their company. The response was good for many companies.

State Farm is the company most likely to be recommended, while there was a tie for second place between American Family and Travelers. Allstate took third place with 92%.

USAA and Liberty Mutual are not ranked, but both scored highly here. USAA had a score of 94%, tying the second-place companies, and Liberty Mutual tied for third with Allstate.

Insurance company Percent of customers who said they were great
State Farm 97%
American Family, Travelers, USAA 94%
Allstate, Liberty Mutual 92%

Most trustworthy home insurance company

Trust is a vital but difficult area for an insurance company. Overall, our survey found trust to be a weak spot for many home insurance companies. State Farm took the top spot in this category with 83%, followed closely by Travelers.

USAA and Liberty Mutual are not ranked, but both scored well, with USAA at 82% and Liberty Mutual at 81%, matching Travelers.

Insurance company Percent of customers who said they were great
State Farm 83%
USAA 82%
Travelers, Liberty Mutual 81%

Best home insurance provider for renewals

There may be no greater vote of confidence than to stick with a company. We asked the survey respondents if they planned to renew with their current home insurer, and most companies had fairly high renewal rates.

USAA topped this category at 98%, although it wasn’t ranked due to its eligibility requirements.

At 97%, Travelers stood out as the winner among the companies that were ranked and came in just behind USAA. State Farm came in third.

Insurance company Percent of customers who said they were great
USAA 98%
Travelers 97%
State Farm 96%


Notable home insurance companies

Some companies were not included in the overall rankings for several reasons. Some did not have enough responses in the survey to be fairly compared with the other companies. These include Amica, Lemonade, and The Hartford.

Liberty Mutual and Safeco, a subsidiary, do not provide rates to our source, Quadrant. Without rate information, we were unable to rank them against the other companies either for price or in the overall star ratings.

Finally, USAA scored well in our survey but only provides coverage to military members, veterans and their families. As the company is not open to everyone, it was not ranked against companies that are open to all customers.

How much home insurance do you need?

Choosing the right home insurance coverage depends on a few very basic factors. The first and most important is the replacement cost value of your home.

A standard home insurance policy covers the dwelling (the house and any attached structures) for replacement cost; that’s what it would cost to rebuild it from the ground up. This is the most important coverage on your policy. Other coverages, such as other structures and personal property, are a percentage of that amount.

So, you need to calculate the replacement cost of your home and make sure the dwelling coverage is enough.

You will also need to consider liability coverage. Standard homeowners insurance comes with $100,000, but experts recommend you increase it to $300,000. 

Finally, you will choose a deductible, which will affect how much you pay in premiums and be your out-of-pocket responsibility in a claim.

Speak to an insurance expert to help you choose these coverages.

How to shop for home insurance and find an insurance company that’s right for you

A lot of people start with price when shopping for insurance, but there are a few other things to keep in mind.

  • Decide how much coverage you need. Determining your specific needs will help you narrow down the carriers you should consider as well as the different coverages you may need to carry.
  • Research insurance companies. Consider both national insurers (ones that operate in all states) as well as regional insurance companies that write policies in your state. Look for insurers that offer the coverages and services you would use. Check each company’s reputation as you add them to your list of possible insurers, looking at financial stability and customer satisfaction.
  • Request quotes. Be sure that all of your quotes are for the same coverage level and have the same deductible so you can make a fair comparison.

As you consider home insurance companies, it’s worth getting quotes for your auto insurance as well to see if bundling your insurance is the right choice.

“Typically, when you purchase two or more products from the same insurer – such as home and auto – you will reap significant savings on both policies. You should also find out what other discounts you may qualify for when shopping for coverage. Discounts can substantially reduce the cost of your policy,” Friedlander says.

Final thoughts on the best home insurance companies

The best insurance company for your home will depend on personal factors, including how you prefer to shop for insurance and whether price matters above all else or if you’re happy to pay more for a company’s solid reputation.

The good news is that it’s easier than ever to gather information about homeowners insurance companies and compare rates. Because rates differ so much from place to place, the company that’s cheapest for one person may not be the most affordable choice for you.

The best insurance companies for 2023 are a great place to start because we have done all the research for you, but it’s always important to gather your own quotes and consider your choices carefully. After all, you want the best insurance company for your needs, and that’s a personal choice.

Methodology

Insure.com in the fall of 2022 surveyed more than 1,500 insurance consumers (805 people with home insurance). The survey was conducted by online market research company Slice MR.

Respondents were asked to name their home insurer and then grade it in the following categories: customer satisfaction, ease of service, claims satisfaction and policy offerings. The percentage of respondents who said they were satisfied or very satisfied with their insurer is presented in the results.

Respondents were then asked to rank their insurer’s top three attributes out of more than a dozen presented – including digital experience, discounts best for auto/home bundling and best for discounts. For a number one choice, five points were given; for a second choice, three points; and for a third choice, a single point. The total points for each choice – first, second and third – were then divided by the number of each company’s customers who responded to that survey question to create a percentage. Those percentages are presented in the results as survey scores.

Respondents were then asked if they would recommend their home insurer to someone else and if they planned to renew their policies. The percentage who said yes is presented in the results.

Finally, respondents were given the statement “I trust my insurance company” and asked if they strongly agreed, agreed, disagreed or strongly disagreed with the statement. The percentage of those who said they agreed or strongly agreed is presented in the results.

The editors compiled the survey results and then selected – based on the number of survey responses – the top companies for further evaluation.

They then collected National Association of Insurance Commissioners’ complaint data, which ranks a company by the number of customer complaints it receives, and AM Best data, which measures financial strength.

They also collected insurance rate data from Quadrant Information Services.

With the help of Prof. David Marlett, Ph.D., Managing Director of the Brantley Risk and Insurance Center at Appalachian State University, the editors created a rating system to determine which insurance companies were best in each sector. For home insurers, we took the following and gave each a weight.

  • Survey: 40% of the total score (10% customer satisfaction, 10% recommended, 10% renewal rate and 10% claims handling)
  • AM Best: 25% of total score
  • Annual premium: 20% of total score
  • NAIC: 15% of total score

Each insurer was awarded between 1 and 5 stars. No company in the ranking received less than 1 star in any category, and 5 stars was the most any insurer could receive.

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