The largest homeowners insurance companies and how they rank in customer and claims satisfaction

• There are several homeowners insurance companies, but 20 have the largest market share.
• A large market share doesn’t always mean great customer satisfaction and claims rankings.
• Claims satisfaction is important, especially if you live in a disaster-prone area where you may have multiple claims per year.
• See Insider’s guide to the best homeowner insurance companies.

There are many homeowners insurance companies to choose from, but 20 companies insure most Americans. We compared how they rank against each other based on market share, customer satisfaction, and claims satisfaction.

Largest homeowners insurance companies based on market share

The following are the largest homeowners insurance companies in America, based on the percentage of insured American drivers who use them:

*USAA is only for active military, veterans, and their families.

Data from S&P Global Market Intelligence

Best homeowners insurance companies based on claims satisfaction

A cheap homeowners insurance policy does little if the company fares poorly in claims satisfaction — especially if you live in disaster-prone areas where you can have multiple claims in one year.

According to J.D. Power, a consumer research company that surveys customers, this is how homeowners insurance companies ranked in claims satisfaction:

*USAA is only for active military, veterans, and their families.

Best homeowners insurance companies based on customer satisfaction

The latest study from J.D. Power shows that a homeowners insurance company’s customer service and reputation are more important than price for homeowners.

Here’s how homeowners insurance companies ranked when consumers were asked about satisfaction overall:

*USAA is only for active military, veterans, and their families.

Average cost of homeowners insurance

The average annual premium in the United States in 2019 was $1,215, according to the most recent data from S&P Global. One way to reduce your premium is to increase your deductible amount.

Having a deductible higher than $1,000 reduces your annual premium. However, if you have a loss and make a claim, you will have a larger portion deducted from your payout. This can be significant if you have multiple claims in one year.

Finding the best homeowners insurance company for you 

You should review your homeowners insurance coverage annually. Remember that a cheap price doesn’t mean good customer service. Focus on claims and customer satisfaction rankings. This is especially important for those living in disaster-prone areas, when good service can make all the difference.

The age of your home, age of your roof, the appraised value, your home’s size (square footage), your location, and whether you own pets are some of the determining factors in calculating homeowners premiums. 

If you live in weather zones or disaster-prone areas — flood zones, hurricanes, tornadoes, wildfires, mudslides, hail, and earthquakes — that will increase your premium because that is not included in basic coverage and will need to be add-ons riders and endorsements.