This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Bankrate Home Insurance Scores Methodology

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.

Written by

Bankrate Staff

Edited by

Lisa McArdle

Updated Oct 25, 2024

At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict ,this post may contain references to products from our partners. Here's an explanation of .Our content is backed by Coverage.com, LLC, a licensed entity (NPN: 19966249). For more information, please see our .

The Bankrate promise

At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict ,this post may contain references to products from our partners. Here's an explanation of .Our content is backed by Coverage.com, LLC, a licensed entity (NPN: 19966249). For more information, please see our .

Overall Bankrate Score for home insurance

Our 2024 Bankrate Score for homeowners insurance considers variables our insurance editorial team determined impact policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

Overall Score

Cost & ratings 50%
Coverage & savings 30%
Support 20%

Cost & ratings score

To determine how well home insurance companies satisfy these priorities, quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the National Association of Insurance Commissioners (NAIC), were analyzed.

J.D. Power is a consumer data and analytics company that conducts several annual studies across various industries, including the annual Home Insurance Study, Insurance Digital Experience Study and more.

AM Best is the largest and oldest credit agency in the world, and it specializes in the insurance industry. An AM Best rating is a letter grade based on the carrier’s historical ability to pay out claims, the amount of debt a carrier holds and other financial obligations.

Demotech, Inc. is a financial analysis firm that provides objective and independent Financial Stability Ratings® (FSRs) for property & casualty insurance companies, life & health insurance companies and title underwriters, among others.

The NAIC is composed of insurance commissioners and its role is to standardize insurance agencies and their practices in the United States. The NAIC Complaint Index keeps track of customer complaints it receives about insurance companies, converting these complaints into a complaint index score.

Coverage & savings score

We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.

Support Score

To encompass the many ways a home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

S&P is primarily a credit rating agency that produces regular reports on the debt carried by private and public companies, countries and regional governments. S&P’s long-term issuer credit ratings are represented as letter grades — AAA is the highest and D is the lowest.

Moody’s is a bond credit rating business with global long-term and short-term rating scales. Ratings focus on the relative credit risks of financial obligations issued by financial institutions, public sector entities and more.