Buying a home is nothing short of a chaotic journey. From finding the perfect house to landing the best financing options, it takes time, effort, and lots of money. In the middle of this long-drawn affair, we sometimes tend to overlook the importance of insuring our homes too. Homeowners insurance is an effective tool to keep by your side to protect your house from untoward occurrences such as a natural disaster or even a theft.
Some lenders might need you to purchase homeowners insurance before approving your loan, and even if they don’t, it is just good sense to get it. In this article, we cover details of the top five insurance companies and compare their costs, the benefits they offer, and other essential information.
Nationwide
Nationwide offers not just homeowners but also car, pet, farm, boat, life, and commercial insurance. This company also provides financial services. Nationwide is among the least-expensive providers, and its slew of discounts- a home refurbishment credit, discounts on a new home, and prior insurance- make it even cheaper. This insurance provider also embraces online quotes and management of policies and even has a highly-rated mobile app that lets users manage everything from policies to claims.
Chubb
Although Chubb is slightly more expensive than the other providers, its reputation for dealing with complaints gives it an edge. And this is why its customized coverage for high-net-worth individuals is worth the investment. If you end up paying way more to rebuild your house after damage, the Chubb Masterpiece Homeowners Insurance will cover you with its extended replacement cost. And if your home is completely destroyed, you can take a cash settlement from Chubb to build a new home. There are several other perks like an assessment by the Property Manager Service, a wildfire hazard assessment, and the like.
American Family
American Family has had a successful history of car insurance. And today it provides insurance for homes, renters, landlords, and business owners in addition. With a widely connected agency thanks to its existing presence in car insurance, American Family provides offers on bundled auto and homeowners insurance. American Family provides a variety of add-ons and optional coverage. The equipment breakdown coverage also includes any damage to your appliances, computers, and other smart systems due to a mechanical or electrical failure.
USAA
Initially known as U.S Army officers in San Antonio, USAA offers homeowners insurance to military officers, veterans, and their families. It is among the very few insurance providers that include identity theft coverage in its standard policy. Other insurance services offer it as an add-on. All its policies also include full-cost replacement. One out of four employees of USAA is either a veteran or the spouse of a military officer. The company has a reputation for remarkable customer service and offers an app through which you can register digital claims. USAA is also available in all the American states, unlike many of its competitors. This insurance provider also offers discounts to those with a home-monitoring system and those who are claim-free. However, it offers fewer discounts those made by its competitors.
Allstate
Founded in 1931, Allstate is an experienced and major player among the top insurance providers in the country. This company has grown to offer very valuable coverage options to complement its standard homeowner’s insurance policy. While there are several frequently seen ones like scheduled personal property coverage for high-value items, there are also some unusual ones like coverage for your sports equipment, musical instruments, garden, and yard. Moreover, with their widespread local agency network, you can rest assured that you will be assigned an agent who can help customize your plan on the basis of your needs.
