Top 7 Home Insurance Companies

Natural disasters are frightening enough with the idea that they can easily destroy your home. But, what’s even more frightening is that they can also take out your insurance provider. For example, we all know the destruction Hurricane Katrina unleashed on New Orleans, but few of us may be aware that it also directly caused Vesta Insurance Group to fail. This is one of many reasons why it is important that you choose a strong and smart company for your home insurance.

To help you out find some of the stronger companies is a list of the top 7 home insurance providers in America.

1. United Services Automobile Association (USAA) based in Texas. – This group is focused on providing banking, investing, and insurance to people and families that serve, or served, in the United States military and other selected federal agencies. Founded in 1922 by a group of U.S. Army officers, their goal was to self-insure each other when they were unable to secure auto insurance due to the perception that they were a high-risk group.
    

2. USAA Casualty based in Texas. This group is made up of the adult children of USAA members and U.S. military junior enlisted personnel.
    

3. Interinsurance Exchange of the Auto Club based in California. The Automobile Club of Southern California was founded December 13, 1900 in Los Angeles as one of the nation's first motor clubs dedicated to improving roads, proposing traffic laws and improvement of overall driving conditions. Today, the Automobile Club of Southern California's affiliated insurance company, one of California's largest insurers, provides coverage for homes, recreational vehicles and watercraft as well as cars and trucks.
    

4. Country Mutual based in Illinois. Country Mutual was founded in 1925 when a group of Illinois Agricultural Association members developed an organization to provide fire and lightning insurance. Crop insurance became available in 1926, auto insurance in 1927, and life insurance in 1929. Financial services, including retirement planning, estate planning, investment management, and annuities have been available for more than 35 years.
    

5. Tennessee Farmers Mutual based in Tennessee. Tennessee Farmers Mutual was founded in 1948. A subsidiary of Tennessee Farmers Insurance Companies, TFMI provides property/casualty products to all Tennesseans and additional services to members of the Tennessee Farm Bureau. (Sister company Tennessee Farmers Life offers complementary lines of life insurance and annuities.) Offerings include personal homeowners, property, auto, farm owners, renters, fire, personal liability, and boating insurance.
    

6. Kentucky Farm Bureau based in Kentucky. This organization was founded at a meeting in Louisville, in November 1919. Membership has soared to more than 440,000 Kentucky families, placing Kentucky in the top two to three state Farm Bureaus for the last decade.
    

7. Frankenmuth Mutual based in Michigan. Frankenmuth Insurance was founded in 1868 and now holds assets over $1 billion, with direct written premiums approaching $500 million and a policyholder contingency reserve fund of $380 million.

These companies hold between $55,738,000 and $1,415,623,000 in homeowners’ premiums. They were rated on a variety of factors such as the trend in its profitability, the adequacy of its loss reserve, the insurer's level of capitalization, and it’s concentration of its business geographically and along business lines. Additionally, these companies all represent a well-diversified portfolio with homeowner’s premiums making up under half of their total written premiums. Essentially this makes them much more financially secure in times of great disasters, which may be more important than you can imagine.