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Choosing the Right Homeowners Insurance Companies

By February 3, 2021March 24th, 2021Tidbits & Tricks

Your home will likely be your most expensive investment. With hundreds of insurance coverage options at our fingertips, it may be overwhelming to choose the right company. We did our research and found some of the best homeowners insurance companies of 2020.

The best homeowners insurance companies of 2020

Forbes completed a homeowners insurance study surrounding company performance in 2020. They analyzed 27 carriers based on price, customer satisfaction, and complaints filed with state insurance departments[1]. The following are the top five homeowners insurance companies in Pennsylvania based on their findings (in alphabetical order):

  • AIG
  • Chubb
  • The Cincinnati
  • Nationwide
  • Travelers

Comparing homeowners insurance companies

Knowing the top-ranked insurance companies is a great start, but you must still consider all options you need. Here are some things to think about when comparing homeowners insurance companies.

How much home insurance you need

To find a company that can fulfill your needs, you must know what they are. One consideration is knowing what it will cost to rebuild your home, and any other structures you may need to insure.

There are optional coverages you may want to pursue, including valuable possessions coverage, flood insurance, sinkhole insurance, service line coverage, umbrella coverage, and earthquake coverage.

By taking into consideration all these factors, you can eliminate companies that do not provide all options you are seeking.

Your insurance deductible

An insurance deductible is the amount you will pay out of pocket in the event of a claim. A deductible can range from nothing to thousands of dollars. Understanding your disposable income and long-term financial situation will help you set a price that is affordable to you if the unexpected occurs.

Check company reviews and complaints

When choosing insurance, you are putting your trust in a company to do right if a claim does occur. Knowing that you are working with a company that has 5-star reviews will make you feel comfortable in your decision.

There are various resources to check customer satisfaction rates of insurance companies. Those include, J.D. Power, Consumer Reports, and the National Association of Insurance Commissioners.

Choosing the right homeowners insurance company

You can shop for insurance on a website or use online quote comparison sites. That is not your best option. This may be a way to get prices fast, but does it get the best policy for you? It is crucial to remember that every policy and carrier vary. Shopping online eliminates the conversation that reveals exclusions and fine print that impact coverage.

By partnering with The Seltzer Group , we take the burden of shopping and comparison off your shoulders. We take the time to understand your coverage requirements and budget, find the best options, and work with you to make an educated choice. Having this trusted partner gives you peace of mind.

At The Seltzer Group, we work with all of 2020’s best homeowners insurance companies. Contact one of our agents today to shop these top-ranked carriers with a single phone call 888-366-1000.

[1] Amy Danise and Jason Metz, eds., “Best Homeowners Insurance Companies 2021,” Forbes (Forbes Magazine, January 12, 2021), https://www.forbes.com/advisor/homeowners-insurance/best-homeowners-insurance-companies/.

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