Price isn't the only thing to consider when choosing your home insurance company, but for most homeowners it is certainly a factor to be considered. Data from S&P Global Market Intelligence shows homeowners premiums rose an average of 12.2% nationwide from 2017 to 2021, which has set many insureds on the hunt for a potential new carrier as they compare quotes. According to the Insurance Information Institute (III), a key factor that has driven homeowners premiums higher is growth in insured losses due to natural catastrophes, including tornadoes, wildfires and floods. The cost of these disasters reached $92 billion in 2021, with a total of $400 billion in costs between 2017 and 2021. In addition to shopping for carriers, ValuePenguin suggests the following tips for homeowners to maximize the discounts they may receive on their policy:

• Have an impact-resistant roof
• Install working smoke detectors or a sprinkler system
• Install a security alarm system
• Avoid unnecessary claims
• Install deadbolt locks
• Bundle your policies with the same insurer, if possible.

ValuePenguin also recently gathered thousands of homeowners insurance quotes from across the country from companies across the U.S. in order to determine where customers should look if they are shopping for a new carrier. In the slideshow above, we count down the ten insurers with at least 1% of the total market who can boast the most affordable home insurance rates.

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