When it comes to the best insurance rates, it is difficult to name a particular company as providing the best. This I so because insurance is not just compared in terms of the value of premiums. In fact some companies attract new customers by showing lesser premium rates.
Does les premium mean the best rate? Definitely no. Homeowners Insurance is not just about the structure and cost of the house. It covers many other issues and the level of coverage that it may provide, varies from company to company.
For example the home insurance also has a liability coverage. In case of any mishaps or accidents involving others and in case of injuries, you may be required to compensate the victim. This compensation can range to any high amount. Now the quantum of compensation offered may vary from company to company. A company may charge a higher premium and give you much higher liability coverage. So it makes sense to take such policies in case you are residing in a rich locality.
In case your house has been damaged or is undergoing repairs, you will need to stay in a hotel and outside your house. Some companies may give you less amount to stay outside, despite your actual requirement. Some companies may pay you up to a higher level. This is where the value of higher premium matter. It is not just restricted to the matter of house and its structure.
However, it is best to always use your own discretion and judgment in finding out what is best suited for you. As per a nationwide survey, the best rates are those that provide a good mix of benefits, coverage and customer service. The best rates have been found to be provided by Amica and All-State.