What Are the Best Homeowner Insurance Companies?

The best homeowner insurance companies as of 2014 are Pacific Specialty, Alfa, Nationwide, Citizens Property Insurance Corporation and Farmers Insurance Group, according to a report by Consumer Affairs. USAA, State Farm, Allstate, Travelers and American Family Insurance round out the Top 10 list.

While most companies have a 24-hour claims assistance line, Pacific and Alfa received high marks for their wide variety of insurance plans, their security system discounts and their personal property replacement programs; however, only Alfa had annual premiums of more than $1,000 compared to the other groups, which were able to offer under $1,000.

The companies were rated based on customer service, value and financial strength, measuring how long a company is expected to stay in business and pay claims. Insurance providers were also rated on how effectively they handled filing, processing, adjustments and payment of claims.