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USAA Ranks Among Top Homeowners Insurance Companies

By Mike Heuer

When it comes to finding the best deals on homeowners insurance, it helps to know which ones are ranked among the top homeowners insurance companies in the United States. Once that is known, if those insurers underwrite coverage in consumers’ respective states, they have a good idea where to go for some of the best deals and policies available anywhere.

The highly knowledgeable assessors at J.D. Power and Associates recently conducted their annual homeowners insurance reviews of the top homeowners insurance companies in the United States. And ranked right at the top is the USAA insurance company, which underwrites coverage for auto, home and life insurance for U.S. military veterans and their extended families.

For its homeowners insurance policies, USAA received top marks for overall satisfaction among policyholders who participated in the publication’s annual homeowners insurance reviews. USAA also earned top marks for policy offerings, pricing, billing and payment and ease of contacting the insurer with any issues or problems. USAA typically earns top marks from not only J.D. Power and Associates but also from third party financial strength ratings firms for its ability to pay potential claims. USAA also typically has some of the more affordable policies available, whether it is auto, home or life insurance.

Also earning top marks was the Amica Mutual Insurance Co., which has ranked at or near the top of the J.D. Power and Associates’ rankings since the organization first began providing homeowners insurance reviews more than a dozen years ago.

Several other insurers also scored well, but none earned the top marks across the board that USAA and Amica Mutual posted among their customers. That does not mean the others are poor insurers. Most of them scored well with above average marks that indicate they would be good insurers with whom to do business.

Earning “better than most” ratings were Erie Insurance, Nationwide Mutual, Shelter Insurance, the Automobile Club of Southern California and State Farm Mutual. Erie is a relatively small insurer operating mostly in the Midwest and other parts of the nation but is not a provider of insurance across the United States, which makes it easier to focus on policyholders.

Shelter, Nationwide and State Farm have mutual insurance operations underwriting their homeowners insurance plans, which is a big reason why the three insurers rank highly as does Amica. Mutual insurance companies are owned by their policyholders and pay dividends when profits exceed a certain amount as determined by each insurer.

Policyholders also have the power to make decisions regarding business operations with an equal vote when informed of various issues, such as electing a board of directors. As part owners of the insurers underwriting their home insurance plans, mutual insurers often times prove to be the best sources of insurance coverage while at the same time providing some of the best customer service available.

The Automobile Club of Southern California, as the name implies, also gives its policyholders a great deal of say in how the company operates. The “club” focuses on the needs of its policyholders and provides a generally high level of customer satisfaction, as determined by the J.D. Power and Associates study.