Home Insurance

Top 12 home insurance companies of 2021

12. Farmers Insurance

U.S. News &World Report rank: 3.4 out of 5

A.M. Best Rating: A

(Credit: Farmers Insurance)

12. Progressive Insurance

U.S. News &World Report rank: 3.4 out of 5

A.M. Best Rating: A+

(Credit: Ken Wolter/Shutterstock.com)

10. Chubb

U.S. News &World Report rank: 3.4 out of 5

A.M. Best Rating: A++

(Credit: Chubb)

9. Liberty Mutual

U.S. News &World Report rank: 3.5 out of 5

A.M. Best Rating: A

(Credit: Liberty Mutual)

8. Erie Insurance

U.S. News &World Report rank: 3.6 out of 5

A.M. Best Rating: A+

(Credit: Erie Insurance)

7. American Family

U.S. News &World Report rank: 3.7 out of 5

A.M. Best Rating: A

(Credit: American Family)

6. Nationwide

U.S. News &World Report rank: 3.7 out of 5

A.M. Best Rating: A+

(Credit: Susan Montgomery/Shutterstock.com)

5. State Farm

U.S. News &World Report rank: 3.8 out of 5

A.M. Best Rating: A++

(Credit: Diego M. Radzinschi/ALM)

4. Allstate

U.S. News &World Report rank: 3.8 out of 5

A.M. Best Rating: A

(Credit: IgorGolovniov/Shutterstock.com)

3. Amica

U.S. News &World Report rank: 4.2 out of 5

A.M. Best Rating: A+

(Credit: Amica)

2. USAA

U.S. News &World Report rank: 4.3 out of 5

A.M. Best Rating: A

(Credit: USAA)

1. Lemonade

U.S. News &World Report rank: 4.7 out of 5

A.M. Best Rating: N/A

(Credit: Lemonade)

During the third quarter of 2021, U.S. personal line rates increased an average of 6.6%, according to MarketScout, with home insurance rates growing around 4%.

The average cost of home insurance in the U.S. is $1,312 annually for a policy with $250,000 in dwelling coverage, Bankrate.com reported.

More aggressive home insurance pricing is common for the quarter, according to Richard Kerr, MarketScout CEO, who explained this is because insurers typically start seeing losses from wildfire claims during the period.

“The national average rate increases for homeowners are not horrific; however, for those with homes in California and Florida rates can be up as much as 25%,” Kerr said in a release. “California homes $20 million and above with high wildfire exposures may not even be able to secure full coverage. Rate increases of 40% are not unusual.”

The above slideshow highlights the top-ranked home insurance companies of 2021, according to U.S. News & World Report.

Related: