How Forbes Advisor Rates Home Insurance Companies

At Forbes Advisor we take our mission seriously—to make smart financial decisions simple. Our editorial process is free of any outside influence from insurance companies and anyone else. You’ll find the same basic coverage types from almost any home insurer, so we rate insurers based on their average costs and extra coverage types that we find especially valuable. We know that your home is likely one of your biggest assets and that it deserves proper protection.

We use the following factors in our ratings.

	Home insurance rates We calculate the average rates for each insurance company for homes with dwelling coverage of $200,000, $350,000, $500,000 and $750,000. These amounts represent a wide range of homes.    Source: Quadrant Information Services
	Why it’s important to consumers With homeowners experiencing painful rate increases across the country, cost is becoming a barrier to finding quality insurance. We understand the cost is often the primary factor in a buying decision.

	Complaints We only use data for upheld complaints—meaning complaints that state departments of insurance verified as valid. This complaint data is not skewed by fake reviews or consumers who have unsubstantiated gripes.    Source: National Association of Insurance Commissioners
	Why it’s important to consumers Complaints are a window into how an insurer does when it comes to paying claims, delays in claim payments and other problems. Consumers need to make decisions based on legitimate complaints, not inaccurate company reviews or suspicious ratings.

	Availability of extended and/or guaranteed replacement cost coverage  These coverage upgrades provide extra funds above the dwelling coverage amount listed in your policy.    Source: Forbes Advisor research into state insurance filings
	Why it’s important to consumers Expanded dwelling coverage is valuable if your house is destroyed.  Construction costs can spike due to demand or inflation and eclipse your coverage amount. Not all companies offer this type of expanded coverage, so it’s something to look for when you’re shopping for the best home insurance.

	Banned dog lists Banned dog breed lists can make homeowners ineligible for coverage or result in a surcharge simply for owning the breed. While any homeowners insurance company will likely (and rightfully) deny coverage for a dog with a history of biting or aggression, banned dog lists apply a one-size-fits-all rule to dogs who may pose no threat.   Source: Forbes Advisor research into state insurance filings
	Why it’s important to consumers When companies have pre-set lists of banned breeds it can be difficult for owners of those breeds to find insurance even if the dog is well-trained and well-behaved. Not all insurers have banned breed lists, so it’s something to consider if you have certain dogs such as a pit bull, Rottweiler, Akita or other breeds.

We use weighting so our scores reflect the most important aspects of the best home insurance.

Best Home Insurance Companies of 2024

• Home insurance rates: 50% of score
• Complaints: 20% of score
• Availability of extended and/or guaranteed replacement cost coverage: 20% of score
• Banned dog lists: 10% of score

As buyers of home insurance ourselves—and with more claims than we care to think about—we understand the importance of a good home insurance company. We take a data-driven approach to scoring companies—an approach without subjective opinions or guesswork. Each company is scored on a level playing field with the others, and we’re always excited to see who the top companies will be when we do the final calculations.