For a mortgage to be approved, most lenders require a homeowner’s insurance policy that covers structural and content fire damage. Usually, such policies protect both the dwelling and the contents the insured keeps inside the house. Fire insurance is generally more expensive for homes located in wildfire prone areas, but certain risk mitigating factors such as the presence of fire resistant features help lower this expense extremely.
Established in 1907 as the Automobile Mutual Insurance Company of America, Amica is one of the country’s oldest mutual insurers, and being fully owned by its policyholders makes it unique in the industry. The company specializes in providing comprehensive eco, home and life insurance policies, as well as offering discounts for any bundled services. Additionally, Amica customizes coverage with added benefits such as roadside assistance and extended replacements for homeowners.
Known for exceptional customer service and seamless claims management, Assurant was notably ranked 12th out of 88 by CRASH’s 2024 Insurer Report Card with a B+. Furthermore, JD Power gave them 746 in their 2024 claims satisfaction study, which far CLed the industry average of 697.
Most customers appear happy with Amica, however some have shared recently they do not appreciate the price increases and the lack of transparency regarding their rates. It is always a good idea to compare coverage and rates for different providers before making your choice on an insurance company.
To help drivers make a decision about Amica car insurance, WalletHub gathered sample quotes for various driver profiles that change with respect to age and driving history. We included quotes from some of the cheapest major providers that offered policies with liability, collision, comprehensive, and uninsured motorist coverage; all of our quotes were based on having a clean driving record and a good credit score for the purposes of comparison.
USAA
USAA is notable as a low cost provider of home insurance with good basic coverage offered for fire, burglary, vandalism, and most weather related occurrences for a low premium. Personal property is covered for theft as well as reimbursement for additional living expenses after a covered loss when the residence is unliveable. In addition to banking services, the company covers specialty vehicles including motorcycles, classic cars, and RVs. These features earned USAA almost a perfect score in the customer service category of the 2023 Insurance Digital Experience Study by The Zebra.
Ever since its establishment in 1922, USAA has over one century of experience. The massive size and volume of insurance USAA carries has ensured its financial stability as demonstrated by USAA’s AAA rating from Moody’s Investors Service and an A+ ranking from AM Best. In addition, USAA provides insurance and banking products aimed at active and veteran service members and their families at USAA’s customer centric pricing model.
USAA customers have mixed opinions of their experience with the company. Some laud USAA’s competitive rates, efficient claims processing, fulfilled retainer premiums, while other customers express complaints with long hold times at call centers and increase in price at times. USAA earned a 3.5 star rating from WalletHub’s editors for its customer service and claims handling process, and while this is perceived as good, it can still be improved.
Chubb
Chubb is known as “The Craftsmen of Insurance” and provides very high-value insurance policies to high-net-worth individuals and specialty policies such as fine art, jewelry, and collectibles. Also, these individuals receive proactive guidance on risk management and tailored claims servicing, which results in above-average customer satisfaction and low complaints during our editorial review process. These policies received the highest scores for customer support and transparency for pricing and policy options.
Chubb’s premium charges may surpass many competing insurers, But their additional specialized coverage features, such as the Masterpiece claims service, where a claim representative is assigned for every insured service, may explain these higher premiums. In addition, Chubb serves as an established provider and has received high ratings from independent agencies, demonstrating strong financial status.
Chubb distinguishes itself from competitors with its innovative home insurance policies that include extended replacement cost coverage which goes beyond materials and labor costs to rebuild after an incident. Chubb also supports flood, earthquake and valuable items coverage policies. Moreover, Chubb is particularly distinguished by condominium and co-op insurance policies with loss assessment coverage, which reimburses unit owners for their share of repair costs to communal areas like the lobby or the pool, saving all unit owners the trouble of dealing with post repair cost allocation.
Erie
Located on the southern shore of Lake Erie lies the largest city of Pennsylvania, which has a regionally unique economy, with heavy reliance on manufacturing, higher education, service industries and tourism centered around Presque Isle State Park, one of the most visited state parks in the nation.
Erie customers rated it highly in an independent review conducted on its offering and advising policies, customer satisfaction, claims servicing, and especially for the efficiency and ease of claim filing. Erie also received highest scores for dealing with trust among competitors Amica and USAA. In addition, Erie offers lower rates and discounts like ten percent for new vehicles.
While some competitors’ rates may be lower, the comprehensive coverage and excellent claims experience provided with ErieSecure Home(r) policies makes them some of the most expensive. Guaranteed Replacement Cost is a feature of homeowners insurance that gives peace of mind to insureds after an accident because it does not phase value over time like actual cash value policies.
Also, Erie provides renter’s insurance, which, in addition to personal property liability coverage, offers coverage for mobile homes with additional living expenses, structural damage to manufactured or modular homes, unit alterations, and also includes an endorsement called Extended Water Coverage that protects against sewer and drain backups.
