Pros and cons

Overview

Amica is the most affordable homeowners insurance provider in our rankings, offering an average monthly premium of $146 for $300,000 in dwelling coverage and $100,000 in liability coverage. Even with increased coverage limits—$500,000 for dwelling and $300,000 for liability—Amica remains the most economical option at $179 per month. It leads our ratings for claims handling and performs well in most of our other categories, though it doesn’t rank as high in home and auto bundling or overall value.

Amica provides two types of homeowners policies: the Standard Choice plan and the Platinum Home Choice plan. The Platinum policy includes all the benefits of the Standard Choice plan, plus additional coverage options such as water backup, replacement cost for personal belongings, and extended protection for computers and business property.

Both policies offer the option to earn dividends, which means you might receive a portion of your annual premiums back. However, dividend-paying policies tend to be more expensive, dividends are not guaranteed, and availability varies by state.

Availability: Amica offers policies in 48 states and Washington, D.C., but does not cover Alaska or Hawaii.

Pros and cons

Allstate Home Insurance Overview

Although Allstate didn’t secure the top spot in any of our sub-ratings, it performed strongly across the board, ranking in the top two or three in most categories except for the cheapest homeowners insurance companies, where it is No. 4. Notably, Allstate is ranked second for both best homeowners insurance companies for claims handling and best value.

Allstate offers a range of add-ons for its standard policy. You can select from common extras such as coverage for water backups and valuable items, as well as less common options like coverage for home sharing or upgrades to more energy-efficient items following a covered loss. If you run a home business, higher limits for business property are also available.

While you can obtain quotes through Allstate’s website, purchasing a homeowners insurance policy requires working with an agent.

Availability: Allstate provides policies in 49 states and Washington, D.C. However, as of June 2023, new policies are not being issued in California. Residents seeking an online quote in California will be redirected to Hippo, an online insurance provider owned by Allstate.

Pros and cons

Overview

State Farm performed well in our sub-ratings, with scores ranging from average to above average across the board. It achieved its highest ranking as No. 2 for the cheapest homeowners insurance companies, with an average monthly premium of nearly $171. Additionally, it is tied for third place among homeowners insurance companies most likely to be renewed.

State Farm provides a range of options to enhance your policy, including coverage for identity theft, home systems, service lines, and energy-efficient upgrades (replacing damaged items with more energy-efficient ones). It also offers increased coverage limits for business property and valuable personal belongings.

With a large network of agents nationwide, State Farm ensures personalized service, though you must purchase your policy through an agent. After purchasing, you can manage your policy, pay premiums, and file and track claims using its mobile app.

Availability: State Farm offers new policies in 47 states and Washington, D.C., but does not issue new homeowners policies in California, Massachusetts, or Rhode Island.

Pros and cons

Overview

Nationwide generally performed well in our sub-ratings, with a few exceptions. It scored below average in both the categories of homeowners insurance companies most likely to be renewed and homeowners insurance companies for customer loyalty, earning 4.1 out of 5 in each category, compared to an average score of 4.2. Nationwide ranked sixth in our rating for the cheapest homeowners insurance companies, with an average monthly premium of $236, but it excelled in our homeowners insurance for value sub-rating, tying for third place.

Nationwide’s standard homeowners policy includes coverage for credit card fraud and building ordinances, helping to pay for repairs or rebuilding to meet current building codes after a covered loss. Optional coverages are available for water backup and identity theft, as well as for replacement costs of your belongings and dwelling.

Nationwide offers several discounts, including those for smart home devices and protective systems such as security alarms and smoke detectors. There is also a discount for renovating plumbing, electrical, or heating and cooling systems, as well as a discount for switching from another insurance provider based on the number of years with the previous insurer.

Availability: Nationwide provides homeowners insurance policies in 44 states and Washington, D.C.