Kiplinger Readers' Choice Awards 2024: Homeowners Insurance Companies

About the Kiplinger Readers’ Choice Awards

The Kiplinger Readers’ Choice Awards aim to recognize and celebrate the best products and services in the personal finance arena. We asked you, our Kiplinger community, to help us name the products and services you think have delivered excellent value in the past year.

The survey results, which we’re sharing here in our second annual Readers’ Choice Awards, offer valuable insight into which providers shine when it comes to your everyday interactions and experiences with them. Our Awards recognize excellence in everything from credit cards, banks and brokers to insurers, tax software and financial apps.  For each category, we’ve listed an overall winner that earned the highest score. We’ve also highlighted other products and services that earned above-average scores for various criteria we asked readers to assess.

By voting, our community has helped us form our guide to the very best financial products. These are the products and companies that you think stand out from the crowd.

Kiplinger Readers' Choice Awards: Homeowners Insurance Companies

Readers assessed their homeowners insurance provider based on how competitive the rates are, how positive the experience has been when filing a claim and how likely they would be to recommend the insurance company to others. Most of the providers here are also honorees for their auto insurance services; see the previous section for more.

OVERALL WINNER: USAA

Outstanding for:

• Competitive rates
• Claims experience
• Most recommended

Readers like USAA for its affordable premiums and impressive customer service during the claims process. “I’ve had USAA home insurance for over 20 years on my primary home as well as rental properties. They have never given me a reason to shop for another provider,” says one reader. Another survey respondent says, “So many people struggle with claims service with other companies, but not with USAA. They are quick to respond.”

Standard policies include replacement-cost coverage for possessions: If your stuff gets damaged in a covered event, USAA will pay the cost to repair it, or the company may replace an item with a new one valued up to your policy limits. You just pay your deductible. USAA insurance is available to military servicemembers, veterans and their families.

Erie Insurance 

Outstanding for:

• Competitive rates
• Claims experience
• Most recommended

Readers appreciate Erie’s reasonable pricing and strong customer service during the claims process. “My agent is always available,” says one reader. “No other insurance company that I have been involved with in the past is competitive with the service provided by Erie!” says another. 

If you bundle multiple policies, such as for homeowners and auto insurance, the typical discount is 20%, according to Erie. A discount is also available when you install smoke alarms, a burglar alarm system or an automatic sprinkler system in your home. 

Amica

Outstanding for:

• Claims experience
• Most recommended

Amica’s homeowners policies won over plenty of readers. One says, “After my uninsured neighbor caused extensive water damage to my home, the Amica representative efficiently negotiated the extensive remediation and made sure I still had a good relationship with my neighbor. Amica’s rates are competitive, the service is fantastic and payments are fast.”

There are a number of ways to get discounts with Amica. If you have a recently remodeled home or newly built home or zero claims over a three-year period, for example, you may be eligible for a discount.

NJM Insurance Group

Outstanding for:

• Competitive rates
• Most recommended

“An excellent company! Their customer service is the best. Their claims service is second to no other,” one reader says of NJM. Readers also rated NJM highly for offering competitive rates, which are well below the national average; the average cost for $450,000 in dwelling coverage with NJM is $931 per year, compared with $3,046 on average nationally, according to Bankrate. 

NJM offers discounts to policyholders who are 65 or older, who are nonsmokers or who own a generator, among other possibilities.

Farm Bureau

Outstanding for:

• Competitive rates

Farm Bureau, which has local operations in a handful of states, earned high ratings from readers — particularly for offering competitive rates. Plans vary from state to state, as do premiums, but generally they include replacement-cost coverage for personal property, such as furniture, personal belongings and electronics, as well as higher-value items such as cameras, jewelry and collectibles with added coverage. 

The size of your home, any recent renovations and the coverage levels you choose are important factors in your quoted premium, as is the state you live in.

Kiplinger Readers' Choice Awards Categories

• Wealth Managers
• Donor Advised Funds
• Cash Back Credit Cards
• Travel Rewards Credit Cards
• Hotel Rewards Credit Card Programs
• Airline Rewards Credit Card Programs
• National Banks
• Internet Banks
• Full-Service Brokers
• Tax Software
• Auto Insurance Companies
• Homeowners Insurance Companies 
• Peer-to-Peer Payment Services