Home Buddies: Top Property Providers and What They’re Known For!

At some point in your life, you’ll be owning assets like cars, businesses, jewellery… etc. One of the grandest assets around has got to be property and if in any case you own one or plan to get one in the future, a responsible choice to do would be protecting it.

There are various ways to protect your property such as adding more security features, getting it maintained annually, and also the most efficient one of all, getting it insured. Insurance can safeguard your property in various aspects such as exterior, interior, content and so on.

So you can guarantee that you’re protected from damages caused to your property in all aspects. So a step closer to that guaranteed protection is by looking for a reliable insurance provider.

To help you out, down below is a list of great insurance providers that offer quality property coverage:

Lemonade

This insurance company is relatively new to the game since it was founded recently back in 2015. This company is incorporated as a public benefit corporation and runs exclusively online. After claims are fulfilled, Lemonade retains a certain portion of premiums and gives consumers the option to designate a charity that will receive up to 40% of the remaining funds.

Another thing to look forward to is that Lemonade offers replacement coverage as part of basic homeowners insurance, in contrast to several other firms in our review that charge extra for it. To know more about it, down below is its list of pros and cons:

Pros:

• Has various add-ons that allow you to customize your policy.
• Has a Giveback program that donates excess premiums to a charity chosen by policyholders annually.
• You can manage your policies through their site on any device.

Cons:

• Is only available in 23 states as well as in Washington, D.C.
• Doesn’t offer local august for in-person service.
• Is a bit pricier than other providers.

Erie Insurance

This insurance provider started out back in 1925 as a regional provider of auto insurance. But throughout the years, Erie Insurance has grown and now offers various policies such as life insurance, property insurance and more. To know more about it, down below is its list of pros and cons:

Pros:

• Expanded identity theft, subterranean service lines, and other benefits are provided by ErieSecure Home Bundles.
• You get a chance to save up to 25% because of its multi-policy discount.
• Offer guaranteed replacement cost standard on dwelling coverage.

Cons:

• Requires you to work with an agent to get a quote or buy a policy.
• Is only available in 12 states.

State Farm

This provider has been around since 1922 and offers various insurance policies for auto, renters, condo owners, homeowners and many more! AM Best awards the organization the highest financial strength grade of A++. Plus this is also one of the most affordable providers on the list. To know more about it, down below is its list of pros and cons:

Pros:

• Offers the lowest average premiums among other providers listed.
• Has over 20,000 local agents.
• The highest ranking for financial strength is available.

Cons:

• Their policies are only available through them directly and are not available through independent agents

Nationwide

This provider started offering their services back in 1926 and now has grown tremendously over the years. Today, they now offer various policies such as life insurance, auto, farm, pet, commercial, health and so much more.

Nationwide’s standard homeowner’s policy offers Brand New Belongings, an option that pays the depreciated value of damaged or stolen items and reimburses you for the difference once you’ve bought a replacement. This option covers credit card coverage for unauthorized charges, forged checks, and counterfeit money.

To know more about it, down below is its list of pros and cons:

Pros:

• Offers one of the cheapest premiums around.
• Its standard home insurance policy includes credit card fraud protection.
• Upgraded roofing for rebuilds and replacement cost coverage for possessions are available coverages.

Cons:

• Reimbursement is required for optional contents replacement costs.
• Not available in certain states such as Alaska, Louisiana, New Jersey, Hawaii and Massachusetts.

Allstate

This provider is known to be one of the insurance giants around since 1931. This has around 87,000 employees, agents and staff has over $45 billion in revenue and is available in over 50 states. And just like Start Farm, this provider also got an award from AM Best which is an +A financial strength.

This provider also offers various policy coverages, discounts and even short-term home shares. To know more about it, down below is its list of pros and cons:

Pros:

• Has local agents available.
• Offers short-term rentals with optional HostAdvantage coverage.
• Is available in 50 states including Washington, D.C.

Cons:

• Is considered to be a pretty expensive option.

How do I get home insurance?

One of the most efficient ways to get insurance is by working with an insurance advisor. An insurance advisor is a professional that specializes in insurance and risk. With their help, you’ll be able (1) get options, (2) get quality advice, (3) fully grasp the coverage you’re getting and (4) even know how to file a claim.

So if you’re new to insurance, a great alternative to start is by working with an insurance advisor.

Take away

Now you know the top providers around, use your new-found knowledge and get the best coverage for you. Each of the providers comes with its own set of pros and cons so consider one with pros that weigh out the cons!

And again, if you’re new to the whole insurance bit, greatly consider working with people that know a bunch about it. You can choose to hire an insurance advisor or an insurnace broker. Both of these are professionals in insurance but offer different services.

So go get the coverage you deserve and need with this list of great insurance providers! All the listed providers have their own websites, so if one catches your interest, consider giving their site a visit! Their site will have all the requirements you need to apply, discounts and much more information about them!