We frequently get requests for the best home insurance. The truth is that most insurance companies offer comparable coverages, packages, and pricing. From year to year, one company may be a little cheaper or more expensive than the others, but generally they will be in the same ballpark. Being independent, Haven can place you with a different company in the event the one you are with has gotten a little too far away from what is reasonable.
The big factors to consider are:
Perils Insured Against: is it a basic policy – covering a very few causes of loss, or an all perils policy – covering all causes of loss unless specifically excluded by the policy?
Replacement Cost or Actual Cash Value: do you have replacement cost – meaning your property is replaced without any depreciation, or do you have actual cash value – meaning your property will be depreciated and then the insurance company will pay some lower amount to you?
Deductibles: do you want a lower deductible – meaning you pay a smaller amount for a loss, or a higher deductible – meaning you pay a higher amount but receive lower premiums?
Add-ons: do you want earthquake, underground sewer line, water backup, etc.?
These are the major cost drivers for a homeowners policy of insurance. We usually recommend an all perils policy, with replacement cost for your dwelling and your personal property, and a reasonable deductible, generally around $2500.00. As for add-ons, most companies will have packages they will include with the policy that provide varying levels of highly specific coverage. This is where your agent will be able to guide you based on your specific needs.
Lastly, it helps to go with a company that can provide home, life, auto and then potentially any business exposures you may have. Most insurance companies provide bundling/premium volume discounts to their insureds, not to mentioned streamlined billing and service options.
In sum, there is no best home insurance, but there are many good options available. Chat with your agent about what is best for you.