Best Cheapest Home Insurance Companies In United State
Home insurance is a must in these days of increased dangers and damages at home. With fires, riots, thefts, and other such incidents occurring frequently, it is vital to have the appropriate kind of insurance for your house. Many home insurance companies in the USA, but not all of them offer the same deals or rates.
So, how do you find the best and cheapest home insurance company for your needs? Worry not, I have researched and prepared a list of the cheapest home insurance companies in the USA for you. So let’s get started
- Erie Insurance
- Liberty Mutual
Now let’s talk about all these companies in detail.
1. Erie Insurance
Erie Insurance is one of the best choices for first-time homebuyers. One of the cheapest home insurance companies offers multiple protections and coverages like service line protection, water backup coverage, etc.
More than 13000 independent agents throughout the country are working 24/7 to serve the clients. This company also ranks high in customer satisfaction as it has got an A+ (Superior) financial strength rating from A.M Best. Eries insure a suburban Chicago area home we looked at for just $98 per month.
Their full coverage includes the complete home replacement cost of your home, which is declared a total loss. There are add-on policies like personal liability, water backflow issues, valuable personal insurance.
There are also coverages for damages caused by storms, fire, and other events like that. Theft is also covered in it.
Their standard liability coverage protects against medical costs, lawsuits from dog bites, falls, and other incidents that occurred to your property.
Their sample cost is just $100/month, and they offer replacement costs as a standard which no one offers.
Pros of Erie Insurance:
- Very affordable rates
- Good coverage
- A+ financial strength rating
- High customer satisfaction ratings
- Multipolicy discounts
- Safety systems discounts
- Advanced quote discount
- Earthquake insurance
- Flood insurance
- Jewellery and high-end valuables insurance
- Firearms insurance
- Computer equipment insurance
- Identity theft insurance
Cons of Erie Insurance:
- No online quotes.
- Coverage limited to 14 states
- Agents are the only sales model
- Pennsylvania based insurance does not offer coverage in every state
2. Liberty Mutual
Liberty Mutual was founded in 1912 and is more than a 100 years old company. They are the United States’ largest insurers offering policies for home, auto, fire, worker’s compensation, liability coverage.
They have more than 50,000 employees, 900 offices worldwide in 29 countries. They offer a 10% discount if you get their policy online. The standard discounts include multipolicy, claims free, protective devices, new home discounts, new roof discounts, and an insured to value discount when you guarantee 100% of the replacement cost.
Their rating from A.M Best is A, which is lower than many other insurance companies because they do not have intense customer satisfaction. There are always a high number of complaints against the company. They also have some absurd rules; for example, their policy pricing may increase, or they can decline your policy if you own a specific type of dog breed.
On the other side, their sample policy costs $112.5 per month, which is relatively cheap. They have their system online as well for tech-savvy people who like modernization. You can use their website as well as their app to get familiar with their working mechanism.
Their standard homeowner insurance policy includes coverage for home and attached structures like deck, breezeway, garage, tool shed, outbuilding, detached garage, etc.
Their standard coverage includes dwelling, personal property coverage, personal liability and medical payment to others, additional living expenses.
Pros of Liberty Mutual:
- Discounts on multipolicy
- Claims free discount
- Protective Gear Discount
- Nationwide services
- Cheap insurance
- Newly purchased home insurance
- Renovated home insurance
- Safe homeowner program
- Early shopper discount
- Military discount
- New roof discount
- Paperless policy discount
Cons of Liberty Mutual:
- A rating from A.M Best
- Unsatisfied customers
- Absurd rules
Nationwide is another best cheap home insurance company with a sample cost of $126.69 per month. They offer plenty of discounts, including home renovation credit, new home discount, credit card theft, etc.
The home insurance coverage provided by Nationwide includes dwelling coverage to protect your home against theft, storm, fire, lightning, etc. They also include costly possessions at your home like furniture, appliances, clothing, etc.
Not only this, but they also cover the garage, fence, outbuilding, and shed. They also offer loss of use coverage, which helps pay for lodging and food meals when your home is being repaired after your claim. They also provide liability coverage which pays the medical and legal costs from an injury to someone else on your property. You can also avail their jewellery and other valuable possessions policy.
They offer some particular policies as well, which no one else offers like, ordinance or law insurance which allows you to build your home to current building codes if there were any changes made in the code. Their credit card coverage helps in paying for unauthorized transactions and reimbursement for forged checks.
Pros of Nationwide:
- They offer multipolicy and a discount as well on it
- A+ rating from AM Best
- Protective device discount
- Claims-free discount
- Home renovation can get you some discount
- Home purchase discount
- Credit card theft insurance
- Valuable plus insurance for valuable possessions like jewellery
- Replacement cost plus for a home rebuilding, i.e., 20% increased amount
- Flood insurance
- Water backup
- Earthquake insurance
- Better roof replacement
Cons of Nationwide:
- Nationwide is not in the whole U.S. There are few states where nationwide do not provide their services
- They have a lot of extra options which drive up the price
- They do not offer replacement costs as a standard
- It does not include identity theft
Progressive was founded back in the 1930s, and it offers a wide variety of insurance policies. It offers its home insurance through its Progressive Home Advantage network of insurers. Their homeowners’ insurance covers your home along with the other structures on your property like a deck, shed, driveway, etc. It also covers your personal possessions for their damage and theft. However, you need to purchase their additional coverage for valuable items like jewellery, laptops, etc.
They have one fantastic policy as well: if your home is damaged or being repaired, then your expenses of living in another place or a hotel are covered by Progressive.
The insurance also covers damages due to fire, tornados, theft, lightning, and other unexpected or natural disasters.
Pros of Progressive:
- They offer discounts on alarms and security systems
- Discount on getting a quote at least ten days in advance
- They have home and auto bundles
- Home and motorcycle bundles
- Home and R.V. bundles
Cons of Progressive:
- It does not cover all the states
- Insurance through the third party
5. State Farm
State Farm is one of the famous and largest insurance companies in the United States. The company was founded in 1922, and it has since become a household name. State Farm offers a variety of insurance products, including auto, home, and life insurance.
State Farm is known for its excellent customer service. This company has been ranked number one for customer satisfaction for auto insurance for 17 years in a row. The company also has a solid financial rating, which means its reliable and affordable products.
If you’re looking for quality insurance coverage, State Farm is a great option. The company has a wide variety of products to choose from, and its customer service is top-notch.
If you’re a homeowner, State Farm offers many homeowners insurance products. You can choose from standard plans or buy any one of the company’s more specialized options. If your house is damaged by fire or flood, theft, or other covered loss, State Farm will pay to repair the damage and restore your property to its pre-loss condition.
The company also offers valuable extras, such as identity theft protection and home repair coverage. Plus, State Farm’s online tools make it easy to file a claim and track the progress of your repair.
If you’re a renter, State Farm offers a variety of renters insurance products. You can choose from standard plans or buy any one of the company’s more specialized options. If your belongings are damaged or stolen, State Farm will pay to replace them.
The company also offers valuable extras, such as identity theft protection and rental property insurance. Plus, State Farm’s online tools make it easy to file a claim and track the progress of your repair.
Pros of State Farm:
- Excellent customer service
- Wide variety of products to choose from
- Reliable and affordable insurance products
- It covers all 50 states
- Strong financial rating
- Good digital tools and Local agents
Cons of State Farm:
- Fewer discounts
- Policies not available through independent agents
Allstate is a well-known insurance company, that offers a variety of coverage options for both personal and business needs.
One thing to note about Allstate is that they are not a national carrier. This means that their policies are only available in certain states. If you live in a state where Allstate doesn’t offer coverage, you’ll need to look elsewhere.
That said, Allstate does offer a wide range of coverage options, and their prices are typically very competitive. They also have a perfect reputation for customer service.
One downside to Allstate is that they can be inflexible with their policies. So, if you’re looking for a policy that’s tailored to your specific needs, Allstate may not be the best option.
Overall, if you’re looking reliable and affordable insurance option, Allstate is a good choice. But, if you need specialized coverage, you may want to look elsewhere.
Allstate offers homeowners insurance that provides coverage for your home, personal belongings, and liability protection. Allstate’s homeowners insurance policies also offer additional coverages such as replacement cost for your home, identity theft protection, and pet injury protection.
One thing to note about Allstate is that their replacement cost coverage is not available in all states. So, if you live in a state where Allstate’s replacement cost option isn’t available, you’ll need to look for another policy that does offer it.
Allstate homeowners insurance can be customized to meet your needs by choosing optional coverages such as personal property insurance and identity theft protection. Also, many of Allstate’s homeowners’ policies include a no-deductible option, which can be helpful if you need to make a claim.
Allstate also offers a good reputation for customer service, and they have a wide range of coverage options available. So, if you’re looking for a reliable homeowners insurance policy, Allstate is a good choice.
Pros of Allstate:
- Huge discounts
- Large coverage options
- Local agents
- Digital identity tracking tool
Cons of Allstate:
- Little expensive
- Homeowner’s coverage is not available in all states
7. USAA insurance
USAA insurance company is a financial institution that specializes in providing insurance and banking services to military members and their families and veterans.
USAA insurance company offers many additional products and services, including retirement planning, investments, mortgages, loans, and credit cards. The company provides competitively priced insurance coverage for automobiles, homeowners insurance, and life insurance.
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USAA offers competitive terms and conditions on its products and provides efficient and fast claims service to its customers. The company also guarantees the best rates for its services to military members.
Additionally, USAA insurance has a long-standing tradition of working closely with military members and their families to offer them financial support during times of need. USAA offers homeowners insurance to its members who finance their property.
The company provides coverage for the home itself, its contents, and additional living expenses in case of an emergency or disaster. The policy covers natural disasters such as fire, flood, hurricanes, windstorms, and earthquakes. Additionally, it covers manufactured disasters such as theft.
The rates vary depending on the state in which the home is located, the age of the house, and the coverage amount. However, USAA typically offers competitive rates when compared to other insurance providers.
Some of the benefits of choosing USAA for homeowners insurance include:
- The company has a long history of providing quality service and support to military members and their families.
- USAA offers competitive rates on its products.
- The company provides efficient and fast claims service.
- USAA guarantees the best rates for its services to military members.
Pros of USAA:
- Extremely satisfied customer reputation.
- They also cover the replacement cost
- You can claim through digital tools using their app
Cons of USAA:
- Specific to only U.S military
- No local agents
- Few discounts
8. Amica Insurance
Amica insurance company is one of the best insurance companies in America. It has been around for more than 100 years. It provides coverage to over 1 million members and employs about 4,000 people nationwide.
Amica provides different types of products like auto, home, and life insurance to its customers. The company is known for its high customer’s satisfaction ratings. In fact, Amica is the only company that has received the highest customer satisfaction rating from J.D. Power for more than 20 years in a row.
The company offers a wide range of discounts to its customers. It also provides 24/7 customer service and claims support.
One of the best things about Amica is that it doesn’t charge any hidden fees. The company also has a very user-friendly website. You can instantly get a quote and buy insurance policies online.
The company provides the best homeowners insurance and renters insurance in the country.
Amica covers building structures, contents, and the replacement cost of belonging. The total amount of coverage can be up to $500,000 with a deductible of just 4%
In addition to that, Amica also offers guaranteed replacement services. If your possessions are damaged or destroyed, Amica will replace them with the same brand and model.
Pros of Amica:
- Low rates
- Offers computer coverage as well
- Cash dividends available
Cons of Amica:
- No independent agents
- All policies cannot be quoted online
In conclusion, Amica is a great insurance company that offers low rates and high-quality service.
USAA is another excellent option for people who are in the military. It has a long history of competitive offerings terms and conditions on its products and provides efficient and fast claims service to its customers.
If you need any help to find the perfect and best insurance policy for your home, you can contact an independent agent. They will guide you through all the necessary steps to find an ideal insurance plan.