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The best home insurance companies will perform exceptionally well in three critical categories:

Although Amica ranks highest in customer satisfaction by J.D. Power, companies like State Farm, Liberty Mutual, and Allstate also rank well in these areas and are worth considering.

There are many reputable national carriers offering similar types of coverage. To find the ideal option for you, the best way to start is by getting an online quote to get an idea of the average rates and companies offering insurance in your location. Even if you don’t buy right away, you get an idea of what the cost will be.

What Does Home Insurance Cover?

The main reason you buy an insurance policy is for the coverage it provides. State Farm stands out for offering excellent coverage options, some of which include:

Dwelling Coverage: The part of your policy that helps pay to repair or rebuild your home if damage is the result of a covered loss. Critical home components like plumbing, electrical wiring, or your HVAC system fall into this category.

Liability Insurance: Helps protect your assets and cover costs associated with a lawsuit when you or a family member are responsible for injuring another person, or if someone is injured on your property. (For example, if your dog bites your neighbor.) It also provides coverage if you or a family member causes damage to another person’s property. $100, 000 is a good benchmark for liability coverage, but this will vary depending on the size of your home and the assets you need to protect.

Other Structures: Covers the cost of repairing (or rebuilding) detached garages, sheds, and other similar structures.

Personal Property Coverage: Covers your clothing, electronics, furniture, and other personal property that is damaged or destroyed by a cause that is covered by your insurance. Most top insurance companies provide checklists, personal property calculators, or other resources to help you document your belongings. For example, Liberty Mutual provides a mobile app where you can upload pictures, receipts, and more.

Loss of use: If your home is damaged to a degree that you have to temporarily move out while it is being repaired, loss of use will help pay your housing and living expenses.

Guest Medical Coverage: Provides coverage for medical bills and related expenses when someone is injured on your property, but they do not want to sue you. $1, 000 per person is a common level of coverage, though some homeowners choose to take out an extension for added protection.

Most of the top homeowners insurance carriers offer similar types of coverage. The best way to find the right homeowners insurance package is by comparing rates and coverage options through an online quote.

Factors that Influence Home Insurance

There are several factors that influence the cost of your homeowners insurance policy. You won’t be able to change or control many of these factors. However, identifying the characteristics you can modify and making the appropriate adjustments can help you keep your rates low. The most common factors that influence your homeowners insurance premium include:

Home’s age and type of construction: If your home is older, there’s a higher chance there will be problems with major components like plumbing, electrical wiring, and HVAC systems. New homes are less susceptible to these major problems.

Location: If you live in an area prone to natural disasters, with a relatively high crime rate, or located far from emergency services, expect to pay more for your policy.

Claims History: If you file several claims a year, you are more likely to pay a higher premium.

Risk Factors: If your home has a swimming pool, aggressive dog, trampoline, or other characteristic deemed risky, you’ll likely pay a higher premium.

Credit Score: Your credit score (whether good, bad, or average) has an impact on the price of your policy.

Deductible: The level of deductible you choose plays a role in the price of your coverage. If you choose a high deductible, that means you have to pay more out of pocket if an incident does occur. The trade-off is a lower premium. (As a side note, I recommend sticking with a deductible you’re comfortable with. If your home is damaged, coming up with $1, 000 is probably manageable. Coming up with $2, 500 or $5, 000 is probably going to be more difficult for most of us. Remember, your insurance won’t kick in until the deductible is met.)

Coverage Amount: The amount of coverage you select will play a role in the price of your insurance.

You can’t control the location of your home, but you do have a say in whether you get a trampoline or an aggressive dog.

By choosing to minimize the risks that are in your power to control, you’re helping keep your premium low.

What Does Home Insurance Not Cover?

As much as insurance is meant to cover the things you can’t plan for, the inverse is also true: you need to plan for the things insurance doesn’t cover. Too often people file home insurance claims, only to find out too late that they’re liable for the high cost of damages themselves. Sometimes, it’s a simple matter of gaps in coverage, where someone thought they were protected but either had insufficient or incorrect coverage. Those issues can usually be addressed by either upgrading a policy (before disaster strikes) or switching providers to one with better coverage options. However, there are certain situations that aren’t likely to be covered by any insurance company, situations that can leave you on the hook for a lot of money if you aren’t prepared. Here are some of the most common:

Flooding
Home insurance does not cover damage caused by weather-related flooding. Many insurance companies do offer special coverage or water damage endorsements, but they only cover accidents occurring inside the home (or on the property), such as flooding caused by burst pipes. They won’t cover water damage caused by heavy rain or overflowing rivers. If you think your home is at risk of flooding, or want the peace of mind of the added coverage, the government does offer protection through the National Flood Insurance Program.

Earth Movement

• Earthquakes: The most common earth movement damage is that caused by earthquakes. Special endorsements can be purchased for an extra fee in all states except California, but without them, no standard policy covers earthquake damage.
• Landslides and Sinkholes: Earthquakes aren’t the only forms of earth movement to consider. Standard policies also won’t cover the damage caused by sinkholes or landslides. Like with earthquake endorsements, some companies may offer this protection, but with the exception of the state of Florida (which mandates sinkhole coverage) they aren’t legally required too.