Homeowners insurance is required by most mortgage lenders, and it’s also an affordable way to protect one of your most valuable assets. Having the right policy in place can keep you financially stable if disaster were to strike.
Homeowners insurance covers both your home and your belongings in the event of extreme weather, fire, vandalism, and theft. It also offers protection if you’re sued for an injury that occurs on your property.
All home insurance policies aren’t the same. That’s why finding coverage that’s trustworthy and easy-to-use is key. We’ve rounded up three homeowners insurance companies that customers simply love, so you can easily make the right choice.
#1 Lemonade
Lemonade is a digital-based insurer with a business model that puts trust, transparency, and social impact front-and-center. Customers can’t get enough of Lemonade, which has earned the relatively new company a net promoter score (NPS) of 70.
What does that mean, exactly? NPS measures customer satisfaction based on a single survey question: How likely are you to recommend the service to a friend or colleague?
For reference, global NPS standards classify a score of 50 as excellent, and an NPS of 70 as world-class. Many of the world’s largest financial institutions have single digit NPS, or even negative scores.
Policyholders also love Lemonade’s mobile app, which has a rating of 4.9, placing it above some of the most highly regarded consumer technology apps—including Amazon, Netflix, Spotify and Uber—in terms of customer satisfaction.
Lemonade offers renters insurance, pet health insurance, car insurance, and term life insurance, and invites policyholders to bundle coverages and save. You’re able to adjust coverages, and file claims, for any of your policies—all through a single app.
Lemonade was created for digital natives in mind, so keep that in mind if you are tech-phobic. There might be a slight learning curve to get up to Lemonade’s speed.
Key coverage takeaways:
- Accepted by all major lenders
- Seamless switching and escrow process
- Fast, digital claims process (some claims are paid in seconds!)
- Social impact: Unclaimed premiums are donated to a charity of your choice
#2 State Farm
State Farm is a Fortune 500 company that has been in the insurance business for nearly 100 years—and it’s still going strong. For homeowners who might not be so tech savvy, State Farm offers more of a conventional user experience.
According to Customer Guru, a site that estimates NPS scores, State Farm has an NPS score of 60, which is outstanding for the industry. State Farm’s affordable coverage, convenient add-ons, and wide availability makes it a dependable option for homeowners around the country.
In addition, State Farm’s mobile app has a 4.8 in the App Store, showing that this traditional insurance company is able to keep pace with the digital age.
State Farm doesn’t offer as many discounts to homeowners insurance policies as their competitors, so you might want to compare several quotes to maximize your savings.
Key coverage takeaways:
- Discounts available
- Add-ons available, including coverage for cyber attacks
- Over 19,000 agents available
- Ability to file claims online
#3 Progressive
Progressive is the 10th-largest insurer in the country, and offers affordable coverage.
Progressive doesn’t technically offer homeowners insurance, but instead matches homeowners with coverage through affiliates such as Nationwide or The American Strategic Insurance Corp (ASI). This model can often benefit customers who already have other insurance policies through Progressive, and want to bundle in homeowners insurance as well.
According to Comparably, a site that estimates NPS scores, Progressive has an NPS score of 39. While this might seem low compared to Lemonade and State Farm, this is still considered a very good score for the industry.
One thing to keep in mind is that because Progressive doesn’t underwrite its own homeowners insurance policies, you’ll have to file claims through an affiliate site, not Progressive’s.
Key coverage takeaways:
- Discounts available
- Pay one deductible on claims for both car and home damage
- Purchase a policy online, on the phone, or through an agent
- Coverage available everywhere in the continental United States
The App Store ratings above are current as of May 2022.