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Top 10 Best and Worst Homeowner’s Insurance Companies

homeowner's insurance coverage, homeowner's policy, insurer, deductible, premium

The latest list of the top 10 best and worst homeowner’s insurance companies reminds us that the best premiums don’t necessarily mean you’ll get compensated fairly when you file a claim. Consumer Reports’ latest survey of the best and worst homeowner’s insurance companies asked more than 7,000 readers to rank their insurance companies.

The survey used these six metrics to get a more complete analysis than comparing the price of premiums:

  • How easy it was to contact an agent about handling the claim.
  • The quality of customer service and the courtesy of each agent.
  • How quickly the agent responded to the claim and how quickly and attentively they took care of the claim.
  • The number of steps involved in the claims process, including how simple it was and how much work had to be done.
  • How satisfied clients were with the insurance company’s estimate of the dollar amount of their damages.
  • How long it took to get paid by the insurance company.

Based on these six metrics, the top 10 home insurers most likely to pay your claim are:

  1. Amica Insurance
  2. USAA Property and Casualty
  3. Erie Insurance Group
  4. MetLife
  5. Auto-Owners Insurance Group of Companies
  6. Nationwide Mutual Insurance Company
  7. The Hartford Financial Services Group
  8. Liberty Mutual
  9. Travelers
  10. Farmers Insurance

In the wake of Harvey and last season’s active hurricane season, more people across the U.S. are making sure they have the best insurance policy out there. From homeowner’s to flood insurance and from renter’s coverage to wind insurance, people are researching coverage.

Some Houstonians are looking for new insurance companies in the wake of Harvey since there have been reports of insurers refusing to pay claims no matter what type of coverage people pay for. Recent legislation in Texas makes it much more difficult for homeowners to sue their insurance companies. And it appears companies are taking advantage of this legislation to deny valid claims.

The top 10 worst insurers on Consumer Reports’ list include a few companies that have come across our radar as taking advantage of the recent legislation in Texas and are denying claims. These companies include:

  1. Auto Club Group
  2. State Auto Insurance Companies
  3. American Family
  4. Allstate
  5. State Farm
  6. Southern Vanguard
  7. Republic Group
  8. Columbia Lloyds
  9. National Lloyds
  10. Germania

Prepare for the worst: why you may want a high deductible policy

Homeowner’s insurance is meant to be used in a catastrophic situation, so it’s important to get the right coverage for you in case something does happen. A high deductible policy will lower your premium, discourage you from making small claims, and allow you to file a claim for a massive loss when you need to.

If your home has to be rebuilt, if you need to make repairs after catastrophic damage, having enough coverage from a company that will treat you fairly is important. That means the recommendation from forty years ago to get the $5,000 deductible won’t cut it in 2018.

We recommend you get your insurance policies reviewed by an experienced insurance claim attorney so that you know if you have adequate coverage for your home and can get the right policies if you don’t have adequate coverage. Call us now at 877-724-7800 for a free consultation.

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