Top Home Insurance

It would only take a few seconds for a fire to burn away everything that you own. With this kind of threat, having a the best home insurance can be essential. Take a look at the top home insurance companies available today.

✔ Last updated: 2020-11-23

Having a home insurance is very essential. Your properties can be covered by fire insurance. And even renters or tenants can also get home insurance to have their possessions protected.

Now, let’s discuss the top home insurance, and its benefits.

Rank

Service Provider

Features

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★★★★★
100+ Ratings

✔ Offers homeowners insurance policies that can be tailored to meet your unique needs
✔ Offers discount for customers who bundle other insurance policies
✔ Report an A+ rating for financial strengths and claims payment ability from A.M.
✔ Boasts a 95% retention rate

★★★★★
100+ Ratings

✔ 24/7 customer service
✔ Guaranteed replacement cost of your home in the event you need to file a claim
✔ Customers can add extra coverage for earthquakes, flooding, water backup, and sump pump overflow

★★★★★
100+ Ratings

✔ Offers insurance along with auto and life insurance options
✔ Offers discounts for consumers who bundle several policies
✔ Discounts for home security systems, impact-resistant roofing systems and choosing a higher deductible

★★★★
100+ Ratings

✔ Offers personalized coverage for homes, autos,rental properties, recreational vehicles.
✔ Can add extra coverage for floods, identity theft restoration.
✔ Special savings and discounts for customers who haven’t filed a claim

★★★★
100+ Ratings

✔ Offers three different levels of coverage, standard, enhanced and premier

How Important is Home Insurance

Having home insurance will make you financially whole if you ever encounter a loss. You would be paying a certain small fee to an insurance company, and in exchange, you would have the guarantee from the company that it will bear the burden of a large uncertain loss in the future.

If you have a house that you own without any insurance, you can still enjoy the use of that house for as long as you like, as long as you pay your property taxes. You can do anything with that property. You can live there, rent it out, or even sell it if you want.

But if there is a massive tree in your backyard, and it falls on your house, causing huge damage, you would shoulder the entire cost to have your house repairs. This is the main reason why you should get home insurance.

Who Needs Home Insurance?

For those of us who have been neglecting our responsibility of having home insurance, there are many cases that the law or a contract would require us to get one. Most of the states in the US require you to carry home insurance. They often need some form of liability insurance, especially for autos.

What Does Home Insurance Cover?

A lot of people are having misguided views of their homeowner’s insurance coverage. One-third of homeowners think that flood damage will be covered by their standard home insurance policy. And over half feel that their policy covers them in the event of a water line break.

But in reality, the typical perils that are typically not covered are:

1. Flood damage (this requires a separate policy)
2. Earthquake (this needs a different policy as well)
3. Mold
4. Acts of war
5. Parts of the property in despair

Insurance policies are often written so that you would know which accidents would be covered. For example, if your roof caves in due to old age, and not from storm damage, most likely, it wouldn’t be covered.

The typical perils which are covered by home insurance are:

1. Fire
2. Wind, tornado or hurricane
3. Hail
4. Theft

Liability Coverage

There’s a lot of insurance policies that offer important provision for liability coverage. You might think that this is not important, but there are a handful of lawyers in every city looking for lawsuits against people like you. Liability coverage is popular for owners of cars, but it is lesser-known to homeowners.

For instance, your neighbor’s house catches fire because you left your outdoor grill unattended, you would be paying for the damage caused by the fire. But since you have paid your insurance company your premiums, they would be the one paying for larger claims when these incidents occur.

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