Home insurance is one of life’s necessary evils. Everybody hates paying the premiums, but you sure are glad the coverage is there when disaster strikes.
So, finding the right home insurance company is important. Some companies are better than others, and a few stand out among the best.
At the top of the heap is Amica Mutual, which ranks first in customer satisfaction for the 18th straight year in J.D. Power’s latest annual U.S. Home Insurance Study.
Amica’s remarkable winning streak is a bright spot in a somewhat discouraging report on home insurance trends. According to J.D. Power:
- The 2019 study found that customer satisfaction with home insurance dipped for the first time since 2015. J.D. Power says lower scores for customers’ experience interacting with their home insurers, and lower scores for their experience with claims, were largely responsible for the decline in overall satisfaction.
- J.D. Powers reports that 74% of homeowners insurance customers say the industry needs improvement — and 13% believe “radical improvement” is necessary.
According to Robert M. Lajdziak, senior consultant with J.D. Power Insurance Intelligence:
“Home insurance seems to be approaching an inflection point as customers expect more value for their premiums — and have demonstrated they are willing to switch insurance companies for it.”
Among all the home insurers included in the study, the average overall customer satisfaction score is 816 out of 1,000 points.
Five companies earned above-average scores. They are:
- Amica Mutual: Overall customer satisfaction score of 845 out of 1,000
- Erie Insurance: 838
- Auto Club of Southern California Insurance Group: 833
- State Farm: 831
- Auto-Owners Insurance: 826
An additional 18 home insurance providers earned below-average scores, with UPC Insurance earning the lowest score of all — 747 out of 1,000.
The USAA financial services company actually led Amica Mutual with its score of 878, but it was excluded from J.D. Power’s rankings because USAA is open only to U.S. military members and their families.
To view how a particular insurer ranked, check out J.D. Power’s announcement about the study and scroll down to the graphic illustrating the ranking for homeowners insurance companies.
Cutting the cost of home insurance
Looking for a great deal on home insurance? One overlooked way to save is to join the right organization.
As we report in “Want a Home Insurance Discount? Join Any of These 4 Organizations“:
Sometimes, you can also save by bundling your policies.
J.D. Power notes that folks who bundle auto and home insurance with one insurer have higher customer satisfaction than those who do not.
They also are especially likely to get policy discounts, online access to policy information and proactive contacts at least annually, according to J.D. Power.
For more ways to save, check out “8 Foolproof Ways to Slash the Cost of Homeowners Insurance.”
What do you think of your home insurance company? Sound off in comments below or on our Facebook page.