The Nationwide Affiliation of Insurance coverage Commissioners (NAIC) has lately launched its market share knowledge for all traces of property and casualty (P&C) protection, together with residence insurance coverage, unveiling the most important suppliers within the US. These are the ten largest residence insurance coverage suppliers primarily based on the affiliation’s newest knowledge.

1. State Farm

Market share: 24.26%
Direct premiums written: $22 billion
Direct premiums earned: $20.7 billion

State Farm is not only the most important residence insurer within the US – the Illinois-headquartered insurance coverage large can also be the nation’s largest auto and P&C insurance coverage supplier. State Farm has greater than 58,000 staff and 19,000 brokers that service 83 million insurance policies and accounts throughout the nation.

It presents normal protection for most owners’ insurance policies, however purchasers can go for a number of add-ons. These embody the elevated dwelling restrict, which robotically extends substitute value protection to twenty% if a house is insured a minimum of as much as the estimated substitute value.

Insurance policies can be upgraded to incorporate protection for earthquake injury, identification fraud, vandalism, and changing cooling and heating home equipment with energy-efficient items. State Farm has among the many highest buyer satisfaction ranking in J.D. Energy’s newest survey, scoring 835 out of a 1,000-point scale, good for a tie for third place.

2. Allstate

Market share: 11.56%
Direct premiums written: $10.5 billion
Direct premiums earned: $10 billion

Allstate operates by seven segments and serves greater than 145 million insurance policies in drive, together with an estimated 35 million property and legal responsibility insurance policies. Its residence insurance coverage merchandise are beneath the Allstate Safety section, which additionally contains auto insurance coverage.

Allstate presents normal insurance coverage for all sorts of properties, together with residences, apartment items, and cell homes. Policyholders also can select from a spread of add-ons, together with water backup, inexperienced enchancment, digital knowledge restoration, identification theft restoration, yard and backyard and enterprise property protection.

Homeowners renting out their properties through Airbnb or different trip rental platforms can go for home-sharing insurance coverage, which supplies as much as $10,000 per rental interval to assist pay for repairs that the usual residence insurance coverage doesn’t cowl. Allstate has an above-average buyer satisfaction ranking in J.D. Energy’s index.

3. USAA

Market share: 8.79%
Direct premiums written: $7.9 billion
Direct premiums earned: $7.6 billion

USAA presents a spread of insurance coverage and monetary merchandise for members of the US armed forces, reserves, and veterans, together with their households. Other than normal inclusions, the insurer supplies earthquake safety in choose states, in addition to home-sharing protection, a characteristic tailor-made for individuals who hire out their properties.

Some owners could even be eligible for identification theft protection and umbrella insurance coverage. By way of reductions, USAA presents bundles with different insurance coverage merchandise. Though not eligible in J.D. Energy’s rankings, it has achieved the survey’s highest rating at 882, main the next-placed firm by a mile.

4. Vacationers

Market share: 6.12%
Direct premiums written: $5.5 billion
Direct premiums earned: $5.1 billion

Vacationers presents residence insurance coverage in 45 states and Washington, D.C. Owners can customise their insurance policies with a spread of add-ons, together with inexperienced residence protection, which pays for using environment-friendly supplies when repairing or rebuilding the property. It additionally presents non-obligatory protection for identification theft and beneficial gadgets.

One disadvantage, nonetheless, is the variety of complaints the corporate has obtained when it comes to buyer expertise and claims processing. Vacationers’ buyer satisfaction ranking is beneath the business common in J.D. Energy’s index.

Learn extra: Taking property claims to the subsequent degree

5. Nationwide

Market share: 3.88%
Direct premiums written: $3.5 billion
Direct premiums earned: $3.4 billion

Nationwide presents one of many least costly insurance policies of all of the insurers on the listing. Policyholders can save additional with a spread of rate-reduction choices, together with residence renovation credit score, new residence low cost, and prior insurance coverage low cost.

Nationwide additionally supplies different advantages that its opponents don’t resembling ordinance or regulation insurance coverage, which covers the fee to rebuild the house to present constructing codes, and bank card protection that pays out for unauthorized transactions and cast checks. The insurer, nonetheless, scored beneath the business common in J.D. Energy’s buyer satisfaction rankings.

Learn extra: Nationwide on enhancing company success

6. Chubb

Market share: 3.53%
Direct premiums written: $3.2 billion
Direct premiums earned: $3.1 billion

Chubb is the nation’s largest industrial insurer, taking on greater than a tenth of the general market share. It presents a spread of non-public insurance coverage insurance policies, together with auto, accident, life, and renters’ protection along with owners’ safety. Chubb’s Masterpiece Owners coverage is designed to incorporate options different residence insurance coverage suppliers provide as add-ons resembling substitute value, water back-up protection, and cyber and identification theft insurance coverage.

The corporate will even restore knowledge if a policyholder’s laptop is focused by cybercriminals and match new locks to their properties in the event that they lose their keys. It additionally presents earthquake protection and its personal flood insurance coverage as a substitute for the Nationwide Flood Insurance coverage Program that the majority insurers use.

7. American Household Insurance coverage

Market share: 2.98%
Direct premiums written: $2.7 billion
Direct premiums earned: $2.6 billion

American Household Mutual Insurance coverage supplies private and industrial P&C insurance coverage throughout the nation. This contains auto, owners’, journey, farm and ranch, retail enterprise, and industrial legal responsibility insurance coverage. It additionally presents life insurance coverage, annuities and supplemental well being plans.

For the corporate’s normal residence insurance coverage insurance policies, protection for pump overflows and sewer backups, identification theft, gear breakdown, matching siding safety, and residential enterprise legal responsibility and property protection will be added. American Household ranks tied for sixth in J.D. Energy’s buyer satisfaction ranking, with a rating of 831.

8. Progressive Insurance coverage

Market share: 2.44%
Direct premiums written: $2.2 billion
Direct premiums earned: $2 billion

Progressive presents owners’ insurance coverage insurance policies by its Progressive Dwelling Benefit community of insurers, together with its personal American Strategic Insurance coverage unit. It additionally offers prospects entry to its on-line HomeQuote device, which permits them to check quotes from numerous residence insurers.

Progressive supplies policyholders with numerous alternatives to get reductions, together with when making advance funds, signing up for a coverage earlier, and opting to obtain paperwork by e-mail. Among the many non-obligatory options that the agency presents are water back-up, private legal responsibility, and private damage protection.

9. Erie Insurance coverage

Market share: 2.15%
Direct premiums written: $1.9 billion
Direct premiums earned: $1.8 billion

Other than house owner’s insurance policies, Erie Insurance coverage sells specialised protection for apartment homeowners, cell owners, and renters. Additionally it is among the many few corporations that supply substitute prices as a part of normal protection.

Erie supplies policyholders with a spread of low cost choices, together with bundling insurance policies. By way of add-ons, the insurer presents home-sharing, identification restoration and legal protection reimbursement of as much as $25,000. Erie ranks tied for third in J.D. Energy’s buyer satisfaction index.

10. Auto-Homeowners

Market share: 2.11%
Direct premiums written: $1.9 billion
Direct premiums earned: $1.8 billion

Auto-Homeowners Insurance coverage operates in 26 states and is represented by greater than 6,200 unbiased companies, consisting of 48,000 brokers. It presents auto, residence, legal responsibility, and employees’ compensation protection to greater than 5 million policyholders. The Higher Enterprise Bureau-accredited (BBB) insurer presents all the usual house owner coverages, together with dwelling safety, legal responsibility insurance coverage, private property and extra dwelling bills protection.

The insurance policies can be customized to incorporate a number of add-ons resembling assured residence substitute, ordinance or regulation protection, identification theft safety, and protection for equipment leaks and meals spoilage ensuing from energy failures. Auto-Homeowners sits tied for sixth place in J.D. Energy’s buyer satisfaction index.