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State Farm, Allstate, and USAA top our list of the largest home insurance companies in the industry.
By
Rachael BrennanRachael BrennanSenior Editor & Licensed Auto Insurance ExpertRachael Brennan is a senior editor and a licensed auto insurance expert at Policygenius. Her work has also been featured in MoneyGeek, Clearsurance, Adweek, Boston Globe, The Ladders, and AutoInsurance.com.
Edited by
Jennifer GimbelJennifer GimbelSenior Managing Editor & Home Insurance ExpertJennifer Gimbel is a senior managing editor and home insurance expert at Policygenius, where she oversees our homeowners insurance coverage. Previously, she was the managing editor at Finder.com and a content strategist at Babble.com.
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Reviewed by
Michael Reynolds, CSRIC®, AIF®, CFT-I™Michael Reynolds, CSRIC®, AIF®, CFT-I™Financial AdvisorMichael Reynolds, CSRIC®, AIF®, CFT-I™, is a financial advisor, principal and founder of Elevation Financial, host of the weekly personal finance podcast Wealth Redefined®, and a member of the Financial Review Council at Policygenius.
Updated|2 min read
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There are plenty of homeowners insurance companies in the country, but the largest companies account for more than 60% of the market share. Keep in mind that home insurance coverage, cost, and discounts vary by company and state — our Policygenius agents can help you find the best homeowners insurance to fit your needs.
10 largest home insurance companies in 2024
Here’s our breakdown of the top 10 largest homeowners insurers in the United States:
State Farm
Allstate
USAA
Liberty Mutual
Farmers
Travelers
American Family
Nationwide
Chubb
Progressive
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What is the largest homeowners insurance company?
The largest homeowners insurance company by a large margin is State Farm, which makes up 18.42% of the market share. The second largest is Allstate with 8.77% of the market share. [1]
Here’s the top 10 largest home insurance companies based on direct premiums written and market share according to the most recent data from the National Association of Insurance Commissioners. [2]
Ranking | Company | Direct premiums written | Market share |
|---|---|---|---|
1 | State Farm | $22 billion | 18.42% |
2 | Allstate | $10.5 billion | 8.77% |
3 | USAA | $8 billion | 6.67% |
4 | Liberty Mutual | $7.7 billion | 6.41% |
5 | Farmers | $7.6 billion | 6.36% |
6 | Travelers | $5.6 billion | 4.64% |
7 | American Family | $5 billion | 4.18% |
8 | Nationwide | $3.5 billion | 2.94% |
9 | Chubb | $3.2 billion | 2.68% |
10 | Progressive | $2.2 billion | 1.85% |
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Methodology: Why you can trust our list of the largest home insurance companies
To find the largest home insurance companies in the country, Policygenius analyzed data from the National Association of Insurance Commissioners (NAIC). The NAIC's Property and Casualty Market Share Report, which was published in July 2022, lists the total written premiums and market share — nationally and at the state level — for the top 125 insurance groups in the country.
To get the average rates for each insurer, we analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:
Dwelling: $300,000
Other structures: $30,000
Personal property: $150,000
Loss of use: $60,000
Liability: $300,000
Medical: $1,000
All rates based on the above coverage limits except where otherwise noted.
Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.
The 10 largest home insurance companies — explained
Here’s a deeper look at the top 10 largest homeowners insurance companies of 2024, including more about the coverages they offer, their financial strength rating with A.M. Best, and how much you can expect to pay for coverage.
1. State Farm
Policygenius rating
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
4.8
AM Best rating
AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A++
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
Offers extended replacement cost
All 50 states
Bundle home & auto
Smart home discounts
Offers flood insurance
Offers earthquake insurance
Why we chose it
State Farm is currently the largest home insurance company in the country, and it’s also the largest auto insurer in North America.
Pros and cons
Pros
Covers homes in all 50 states, including Florida and California
Save up to $1,127 per year when you bundle your home and auto insurance
Excellent line-up of policy add-ons, including extended replacement cost coverage
Cons
20% more complaints filed with the NAIC than other companies of its size
More details
Market share: 18.42%
Written premiums: $22 billion
Average annual cost: $1,887
State Farm is the largest home insurance company in the country and offers policies in all 50 states. According to J.D. Power’s overall customer satisfaction study, State Farm is “better than most” when it comes to overall customer satisfaction.And policyholders with State Farm gain access to a variety of resources and digital tools, making it a solid choice forfirst-time homebuyers.
Read our full review of State Farm home insurance
2. Allstate
Policygenius rating
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
4.4
AM Best rating
AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A+
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
All 50 states
Bundle home & auto
New homebuyer discount
Offers flood insurance
Why we chose it
The second largest company is Allstate, which offers affordable rates — around $300 cheaper than the national average.
Pros and cons
Pros
High-quality and flexible policy options
Numerous discounts and features that help you save
Below-average customer complaints
Cons
Below-average digital experience rating with J.D. Power
More details
Written premiums: $10.5 billion
Market share: 8.77%
Average annual cost: $1,650
Allstate offers below-average prices and a wide range of discounts, including a home buying discount if you’re a new homebuyer or their protective device discount for securing your home with emergency devices.
Read our full review of Allstate homeowners insurance
3. USAA
Policygenius rating
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
4.9
AM Best rating
AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A++
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
Offers earthquake insurance
Offers flood insurance
Offers extended replacement cost
Bundle home & auto
All 50 states
Smart home discounts
Why we chose it
USAA is the third largest homeowners insurance company, but it’s only available to those affiliated with the U.S. military.
Pros and cons
Pros
Affordable rates
Over a dozen additional coverage options
Industry-best customer service and claims satisfaction ratings
Cons
Limited to people affiliated with the U.S. military
More details
Written premiums: $8b
Market share: 6.67%
Average annual cost: $1,479
Part of what makes USAA stand out are its deductible options of up to $10,000, a perk that helps policyholders keep their rates low. The insurer also offers a home protector plus endorsem*nt to bring your homeup to new building codesafter a covered loss. However, it’s only available to those who have served in or have some affiliation with the U.S. military.
Read our full review of USAA homeowners insurance
4. Liberty Mutual
Policygenius rating
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
4.3
AM Best rating
AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
NA
Offers flood insurance
New homebuyer discount
Mobile app
All 50 states
Bundle home & auto
Why we chose it
Liberty Mutual is the fourth largest home insurance company in the country and received high marks from credit rating agencies like A.M. Best, which means it’s a financially sound company.
Pros and cons
Pros
10+ discounts available to lower rates
Offers water backup coverage, inflation protection, and flood insurance
Available in all 50 states and Washington, D.C.
Cons
Below-average scores in J.D. Power’s overall customer satisfaction and digital experience surveys
3 times more complaints than other similar-sized insurance companies
More details
Written premiums: $7.7 billion
Market share: 6.4%
Average annual cost: N/A
Liberty Mutual offers a slew of coverage add-ons, including inflation guard coverage, water backup coverage, and flood insurance through the NFIP. However, it scored below average on J.D. Power’s overall customer satisfaction study.
Read our full review of Liberty Mutual homeowners insurance
5. Farmers
Policygenius rating
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
AM Best rating
AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
Offers extended replacement cost
Offers flood insurance
Bundle home & auto
New homebuyer discount
Smart home discounts
Why we chose it
Farmers is the fifth largest home insurer in the country and offers affordable coverage in all 50 states.
Pros and cons
Pros
12+ discounts to save on rates
Extended and guaranteed replacement cost for your home
Shave $50 off your deductible each year you’re with Farmers
Cons
Below-average scores on J.D. Power’s overall customer satisfaction and digital experience surveys
More details
Written premiums: $7.6 billion
Market share: 6.36%
Average annual cost: $1,845
Farmer’s offers multiple tiers of coverage so you can customize your home insurance policy to best fit your needs. The insurer offers all of the standard discounts, including discounts for bundling another insurance policy with Farmers or if you’re a non-smoker. But when it comes to overall customer satisfaction, Farmer’s received some of the lowest marks from J.D. Power’s overall customer satisfaction study, coming in at second-to-last place.
Read our full review of Farmers homeowners insurance
6. Travelers
Policygenius rating
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
4.4
AM Best rating
AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A++
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
Bundle home & auto
New homebuyer discount
Mobile app
Offers extended replacement cost
Offers flood insurance
Why we chose it
Travelers is the sixth largest home insurance company in the U.S. While it offers extensive coverage options, its average annual rates are on the higher side compared to other insurers on this list.
Pros and cons
Pros
Green home coverage and discounts
Offers short-term rental coverage for Airbnb hosts
Doesn’t require prior insurance on the home
Cons
Subpar customer service ratings with J.D. Power
Underwhelming number of available discounts
More details
Written premiums: $5.6 billion
Market share: 4.64%
Average annual cost: $1,568
While Travelers scored high with A.M. Best based on its financial strength as a company, it earned one of the lowest scores in J.D. Power’s overall customer satisfaction study. When you sign up for a policy with Travelers, you can choose between silver, gold, platinum, and platinum for varying degrees of protection.
Besides these robust policy packages, Travelers’ unique policy enhancements also set this insurer apart from others in the industry. Additional coverage options include a green home endorsem*nt, identity fraud coverage, and personal articles floater.
Read our full review of Travelers homeowners insurance
7. American Family
Policygenius rating
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
4.5
AM Best rating
AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
Bundle home & auto
Offers flood insurance
Mobile app
New homebuyer discount
Smart home discounts
Why we chose it
American Family, or AmFam, is the seventh largest home insurance company with nearly $5 billion in written premiums in 2021.
Pros and cons
Pros
Affordable rates and 11 available discounts
Ranked #2 in J.D. Power’s 2022 U.S. Home Insurance Study
Diminishing deductible feature to lower out-of-pocket claim costs
Cons
Only available in 19 states
Offers online quotes, but requires talking to an agent to complete the process
More details
Written premiums:$5 billion
Market share: 4.18%
Average annual cost: $1,692
In addition to standard homeowners insurance, AmFam offers coverage add-ons, like matching siding protection to repair or replace the siding of your home, and other impressive features like the interactive home insurance checklist on its website. AmFam also scored the second highest of any company on J.D. Power’s overall customer satisfaction study.
Read our full review of American Family homeowners insurance
8. Nationwide
Policygenius rating
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
4.5
AM Best rating
AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A+
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
Smart home discounts
Offers extended replacement cost
Offers flood insurance
Offers earthquake insurance
Bundle home & auto
Why we chose it
Nationwide is the eighth largest home insurance company with $3.5 billion in written premiums in 2021.
Pros and cons
Pros
Multiple high-quality coverage options
Highly rated for claims satisfaction with J.D. Power
Available in most states
Cons
Below-average customer satisfaction and digital experience ratings
Won’t cover Airbnbs or other short-term rentals
More details
Written premiums: $3.5 billion
Market share: 2.94%
Average annual cost: $1,966
Nationwide offers flexible coverage options for several types of homes and financial needs. Homeowners can save on their premium, too, just by having a newer roof or living in a gated community. The credit rating agency A.M. Best gave Nationwide an A+ score, which suggests they’re a well-established and financially sound company. But when it comes to customer satisfaction, Nationwide earned a below-average score from J.D. Power compared to others on this list.
Read our full review of Nationwide homeowners insurance
9. Chubb
Policygenius rating
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
4.3
AM Best rating
AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A++
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
$
$
$
$
$
Offers extended replacement cost
Offers flood insurance
Bundle home & auto
Smart home discounts
All 50 states
Why we chose it
Chubb takes the No. 9 spot on our list of the largest home insurance companies thanks to the $3.2 billion it wrote in premiums in 2021.
Pros and cons
Pros
Complimentary wildfire and hurricane mitigation services
Cash-out claim settlements
Higher coverage limits available than standard insurers
Cons
Only insures high-value homes
Below-average J.D. Power customer satisfaction ratings
More details
Written premiums: $3.2b
Market share: 2.68%
Average annual cost: N/A
As a luxury insurance carrier designed for high-net worth individuals, Chubb offers enhanced coverage options in its base policy, includingextended replacement cost coveragefor your home andreplacement cost coveragefor your personal belongings, which is usually offered as supplemental coverage with other companies.
Read our full review of Chubb homeowners insurance
10. Progressive
Policygenius rating
Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.
4.5
AM Best rating
AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A+
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
NA
Mobile app
Smart home discounts
Bundle home & auto
Offers flood insurance
Offers extended replacement cost
Offers earthquake insurance
New homebuyer discount
Why we chose it
Progressive takes the last spot in our list of the 10 largest home insurance companies —with $2.2 billion in written premium in 2021.
Pros and cons
Pros
Available in all states except Alaska and Hawaii
Slew of policy and discount options available
Easy-to-use app to manage policy
Cons
Not a direct insurance carrier
Cost varies by company Progressive places you with
Customer service & claims options vary by company
More details
Written premiums: $2.2 billion
Market share: 1.85%
Average annual cost: N/A
Because Progressive works with so many different insurers, customer satisfaction can vary when it comes to the claims process —as evident by its below-average score with. J.D. Power. However, the company earns an A+ rating with A.M. Best based on its good financial strength and stability.
Read our full review of Progressive homeowners insurance
Largest homeowners insurance companies by state
Homeowners insurance coverage and costs can vary by state. Unsurprisingly, State Farm makes up the most in-state market share in nearly all 50 states. [3]
State | Largest insurer | In-state market share |
|---|---|---|
Alabama | State Farm | 27.55% |
Alaska | State Farm | 33.29% |
Arizona | State Farm | 16.95% |
Arkansas | State Farm | 26.56% |
California | State Farm | 19.41% |
Colorado | State Farm | 20.97% |
Connecticut | Travelers | 8.68% |
Delaware | State Farm | 25.50% |
District of Columbia | Travelers | 22.03% |
Florida | Universal | 10.48% |
Georgia | State Farm | 25.49% |
Hawaii | State Farm | 35.51% |
Idaho | Liberty Mutual | 16.52% |
Illinois | State Farm | 33.54% |
Indiana | State Farm | 24.34% |
Iowa | State Farm | 25.71% |
Kansas | State Farm | 21.09% |
Kentucky | State Farm | 25.00% |
Louisiana | State Farm | 26.18% |
Maine | State Farm | 12.31% |
Maryland | State Farm | 17.24% |
Massachusetts | MAPFRE Insurance | 12.23% |
Michigan | State Farm | 17.04% |
Minnesota | State Farm | 26.4% |
Mississippi | State Farm | 25.24% |
Missouri | State Farm | 25.37% |
Montana | State Farm | 24.51% |
Nebraska | State Farm | 23.22% |
Nevada | State Farm | 18.85% |
New Hampshire | Liberty Mutual | 13.49% |
New Jersey | Allstate | 11.94% |
New Mexico | State Farm | 20.67% |
New York | Allstate | 16.38% |
North Carolina | State Farm | 16.68% |
North Dakota | State Farm | 15.09% |
Ohio | State Farm | 21.28% |
Oklahoma | State Farm | 28.99% |
Oregon | State Farm | 22.06% |
Pennsylvania | State Farm | 17.83% |
Rhode Island | Amica | 15.15% |
South Carolina | State Farm | 20.36% |
South Dakota | State Farm | 20.11% |
Tennessee | State Farm | 23.92% |
Texas | State Farm | 18.32% |
Utah | State Farm | 16.63% |
Vermont | Vermont Mutual | 12.05% |
Virginia | USAA | 18.6% |
Washington | State Farm | 17.74% |
West Virginia | State Farm | 26.82% |
Wisconsin | American Family | 22.43% |
Wyoming | State Farm | 22.44% |
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Highest financially-rated home insurance companies
The ten largest home insurance companies all have good financial ratings, but State Farm, USAA, Travelers, and Chubb all received the highest possible financial rating (Superior) from AM Best.
The chart below shows the ten largest home insurance companies by financial rating:
Insurance company | AM Best rating |
|---|---|
State Farm | A++ |
USAA | A++ |
Travelers | A++ |
Chubb | A++ |
Allstate | A+ |
Progressive | A+ |
Nationwide | A+ |
American Family | A |
Liberty Mutual | A |
Farmers | A |
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But keep in mind that financial stability isn’t the only factor to consider when choosing an insurer. Price, customer satisfaction, and types of coverage offered are just a few of the other things you may want to consider when buying a policy.
How to find the best homeowners insurance company
The best homeowners insurance company for you is going to depend on your specific coverage needs. That said, there are some universal factors to consider when looking into different insurance companies.
Below is generally what you should look for when comparing different insurers:
Financial stability of the company
Reliability, with high claims satisfaction scores
Robust, comprehensive coverage options
Affordable rates
The best way to shop for homeowners insurance is to compare quotes from multiple companies. A Policygenius expert can help you determine how much coverage you need and help you find the best homeowners insurance at the best price.
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Frequently asked questions
What makes an insurance company the largest?
The largest insurance companies are the ones that make up the most market share in the industry.
What’s the best homeowners insurance company?
The best homeowners insurance company in our 2023 analysis is Auto-Owners Insurance, thanks to its mix of extensive policy and coverage options, high marks for financial strength and customer experience ratings, and affordable premiums.
Who is the largest homeowners insurance company in the United States?
State Farm is the largest homeowners insurance company, making up over 18% of the market share.
Which company has the highest customer satisfaction score?
Amica remains the standard-bearer of customer satisfaction in residential property insurance, scoring highest in J.D. Power's customer experience survey in every year except one since 2002.
The study determined overall customer satisfaction by examining five factors: interaction, policy offerings, price, billing process and policy information, and claims.
Are large insurance companies better than smaller ones?
Not always. While a larger insurance company is likely to have been around longer and have more financial stability than its smaller counterparts, smaller insurers may offer lower rates or other benefits that the larger companies can’t provide. Large insurance companies are more likely to offer nationwide coverage, but smaller insurers are often the better choice for homeowners who had a lapse in coverage or have high-risk homes.
References
Policygenius uses external sources, including government data, industry studies, and reputable news organizations to supplement proprietary marketplace data and internal expertise. Learn more about how we use and vet external sources as part of oureditorial standards.
National Association of Insurance Commissioners
. "
Market Share Reports for Property/Casualty Groups and Companies By State and Countrywide 2022 edition." Accessed November 01, 2022.
Author
Senior Editor & Licensed Auto Insurance Expert
Rachael Brennan is a senior editor and a licensed auto insurance expert at Policygenius. Her work has also been featured in MoneyGeek, Clearsurance, Adweek, Boston Globe, The Ladders, and AutoInsurance.com.
Editor
Senior Managing Editor & Home Insurance Expert
Jennifer Gimbel is a senior managing editor and home insurance expert at Policygenius, where she oversees our homeowners insurance coverage. Previously, she was the managing editor at Finder.com and a content strategist at Babble.com.
Expert reviewer
Financial Advisor
Michael Reynolds, CSRIC®, AIF®, CFT-I™, is a financial advisor, principal and founder of Elevation Financial, host of the weekly personal finance podcast Wealth Redefined®, and a member of the Financial Review Council at Policygenius.
Questions about this page? Email us ateditorial@policygenius.com.
