Shopping for homeowner’s insurance can feel somewhat like figuring out who to vote for in a local or national election — each candidate wants to earn your support while demonstrating why they are a superior choice to the competition. In both cases, it can be dizzying to parse through the pros and cons involved in choosing a candidate. At David Pope Insurance, we can give you a thorough assessment of the best homeowner’s insurance companies in Missouri to help you find a good match, while also comparing their services with our homeowner’s insurance packages!
We’ve done the work of comparing and contrasting services for you and found the overall top companies in the state.
Shelter Insurance is rooted in Missouri soil, as it began in 1946 under the name of MFA (Missouri Farmers Association) Mutual Insurance and exclusively operated in Missouri. Since then, they have expanded operations to 15 different states.
The home insurance packages that Shelter Insurance offers include dwelling insurance, mobile home insurance, condominium insurance, personal articles insurance, apartment owner’s insurance and homeowner’s insurance. With such packages, Shelter insurance provides many additional coverages to basic home insurance, including debris removal, construction costs for necessary repairs, and more. As such, purchasing homeowners insurance from Shelter Insurance is of great value, as they also have significantly lower rates than competitors.
Some of their available discounts include multi-policy discounts when you bundle auto insurance with home insurance, protective devices discounts when you have approved alarm systems, smoke alarms on each level of the house and deadbolt locks on all windows and exterior doors, a claim-free discount when you go six consecutive years without a claim, new home discount of up to 40 percent off for one year for homes under construction and a heating system discount for homes that do not have a solid fuel heating system.
The United Services Automobile Association (USAA) started in San Antonio in the roaring twenties when 25 army officers connected and resolved to establish a mutually beneficial program to insure each other’s vehicles. Once established, USAA evolved into an insurance company that served all Navy, Air Force and Marine Corps officers. While USAA initially began as an automobile insurance company, it eventually expanded its coverage to offer homeowner’s and life insurance in the 60s.
USAA now proudly serves all enlisted and retired military personnel and their families with affordable rates on homeowners insurance, auto insurance, life insurance, renters insurance, flood insurance, small business insurance and more.
Basic coverage for USAA homeowner’s insurance includes liability, fire, theft, vandalism and most weather-related events, aside from floods, which must be purchased separately with flood insurance. Another perk of USAA insurance is that policyholders will receive 10 percent off their premiums if they do not make any claim within a 5-year-period.
While there is much to like with USAA homeowner’s insurance, they are only open to individuals who have served in the military or are a spouse or dependent on someone who has served in the military. As such, they are the best insurance company for military members and their families, but not so much for the rest of the population.
Allstate Insurance was founded in 1931 in Illinois by the president of Sears, Roebuck, and Company, General Robert E. Wood, as an automobile insurance company, and eventually expanded to offer homeowner’s insurance in the late 1950s. Its coverage extends to every state in the United States, as well as the District of Columbia. Thus, it was one of the largest insurance companies in the nation and the second-largest homeowner’s insurance writer in the U.S., next to State Farm.
Their coverage options for homeowner’s insurance include dwelling coverage, personal property coverage, liability coverage, guest medical protection, personal umbrella insurance, home-sharing coverage, mobile home insurance, and flood insurance. As such, they have a flexible array of options for homeowner’s insurance. Furthermore, since not all companies include flood insurance in homeowner’s insurance, that is an added perk for residents of Missouri, where floods are frequent.
Some other perks of purchasing homeowner’s insurance with Allstate include a first-time home buyers discount, a multi-policy discount of up to 25% when you bundle auto insurance with homeowners insurance, as well as an early signing discount and welcome discount for homeowners that switch from another company to Allstate. Such homeowners can also receive a claim-free discount if they switch to Allstate without a recent claim. However, Allstate also has high premiums well above the state average in Missouri for homeowner’s insurance.
American Family Insurance began in 1927 under the name of Farmers Mutual Automobile Insurance Company in Madison, Wisconsin. It underwent a few different name changes until it stuck with American Family Insurance in 1963. The company began offering homeowner’s insurance to its members in 1958. Currently, they are one of the ten largest home insurance companies in the U.S. and offer policies in 19 different states.
In terms of coverage options and discounts, AmFam offers a diverse range. Their coverage options are customizable, while they also have two tiers of discounts, including standard discounts and smart home discounts. Their claims filing process is also available to members 24/7.
Standard coverages with AmFam include dwelling coverage, loss of use coverage, auxiliary structure coverage, personal property coverage and personal liability coverage. Their optional coverages include equipment breakdown, sump pump and water backup coverage, credit fraud protection and matching siding coverage.
The standard discounts that American Family offers including bundling discounts, discounts for homes 15 years old or newer or homes with completely replaced plumbing, heating and electrical systems within the past 15 years, autopay and paperless billing discounts, loyalty discounts after the first year and generational discounts for individuals between the ages of 18 and 30 whose parents are active American Family Insurance members.
In addition to the standard discounts, American Family’s smart home discounts include fire and smoke alarm discounts, home security discounts, climate control discounts and internet-connected water sensor discounts.
Like USAA insurance, State Farm began operations in 1922 when its founder, G.J. Mecherle, sold their first auto policy. It has since become the largest insurance company in the United States according to the Fortune 500 list of the largest companies, where it lands at 39. State Farm sold its first homeowner’s insurance policy in 1964.
Although State Farm is a household name in both the auto and home insurance industry, they do not necessarily provide great value for their rates. Despite having higher annual average premiums than their competitors, their discount options are limited, even for long-term customers. That said, they do have a decent selection of customizable coverage options and have intuitive and user-friendly digital tools for requesting quotes, paying bills, filing claims or speaking to agents, of which there are over 19,000!
Travelers Insurance is one of the oldest insurance companies still in operation, as it was founded in 1864 by James G. Batterson as an accident insurance company. Travelers also pioneered automobile insurance, aircraft liability insurance and insurance coverage for space flight and lunar exploration.
In terms of homeowner’s insurance, Travelers covers all the basics, including dwelling, personal property, liability, loss of use and coverage for auxiliary structures, such as a garage or detached shed. They also have rates below the industry average and offer a competitive array of discounts, which include new homeowner discounts, multi-policy discounts, claim-free discounts, protective device discounts for homes with smoke detectors, smart home technology or interior sprinkler systems, as well as discounts for homes that are certified by Leadership Energy and Environmental Design (LEED).
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Auto-Owners Insurance Group was founded in 1916 in Michigan, branched out to Indiana in 1935, and currently operates in 26 different states, including Missouri. While they are a smaller homeowner’s insurance provider, they have plenty of coverage options available and their rates are significantly lower than average annual premiums.
For coverage options, Auto-Owners covers all the basics in addition to various optional coverages, such as guaranteed home-replacement cost, water backup from sewers or drains, identity theft expense coverage, lawsuit coverage, special personal property coverage and more. They also offer a variety of discounts. Some of those discounts may be applied to individuals who pay their premiums on time for 36 months, bundle multiple policies, enroll in paperless billing and pay their premiums online, have a favorable loss history and more.
While there is a lot to like about Auto-Owners home insurance, their website capabilities are fairly limited in terms of what members can do online, as members cannot file claims, apply for coverage or request quotes online with Auto-Owners.
American Automobile Association (AAA) is a nationwide insurance company founded in 1902 in Chicago, Illinois. Each state has its own membership club affiliated with AAA. Missouri’s AAA affiliated membership club is known as the Automobile Club of Missouri, through which AAA provided its first signature emergency roadside assistance program. AAA began offering homeowner’s insurance to its members in 1974.
AAA’s home insurance packages provide such coverages as auxiliary structure coverage, personal property policies, loss of use coverage, personal liability and guest medical payments. Discount options with AAA homeowner’s insurance include discounts for individuals who pay their entire annual premium in one payment, multi-policy discounts, claim-free discounts, first-time home-buyer’s discounts, roof replacement discounts and discounts for older adults. AAA’s average annual premium rates for Missouri are also some of the lowest in the area.
Farmers Insurance Group, known colloquially as Farmers, began in 1928 in Los Angeles, California, after its founders, John C. Tyler and Thomas E. Leavey, established the company to help local farmers insure their vehicles at lower rates. As such, they defied the odds and survived despite beginning only one year before the onset of the Great Depression. By the time the 1940s came around, Farmers ventured into home insurance. Today, Farmers Insurance Group is a Fortune 500 and leading insurance company in the United States.
Farmers has a lot of flexibility with their homeowner’s insurance packages, with standard, enhanced and premier packages. The standard package is designed for homeowners who are just starting, as it balances affordability with essential features. Their enhanced package caters to established homeowners willing to pay more for their premiums in return for added features, such as roof replacement coverage. Seasoned homeowners will benefit most from their premier package, as it has the highest rates and provides guaranteed home replacement costs under specified conditions.
Additional coverage options with Farmers Insurance group include their Eco-Rebuild coverage program for homeowners who want to rebuild their homes with eco-friendly materials, and personal losses away from home. Some of their discount options include those for green certifications, reliable payers, protective devices, claim forgiveness, homes less than 14 years old and others.
Some drawbacks of Farmers Insurance include their lengthy claims process and their tricky-to-navigate website. That said, their mobile app is a convenient benefit for submitting claims or paying bills.
The Hartford began as a fire insurance company in 1810, providing fire insurance for Yale University in 1825 and Abraham Lincoln’s Illinois home in 1861 during his first term at the White House. In the 20th century, they provided personal liability insurance to Babe Ruth and protected President Eisenhower’s historic 190-acre farm. As such, they certainly have pedigree! It wasn’t until 1984 that they expanded into homeowners insurance with the American Association of Retired Persons (AARP).
Their homeowners insurance packages cover all the basics and their discount options include multi-policy discounts, protective devices and security discounts, claims-free discounts, loyalty discounts for individuals who stay with Hartford for four years and discounts for retirees or individuals who work less than 24 hours per week.
The Hartford has several great qualities, including an easy-to-navigate website and 24/7 claims assistance. However, their homeowners insurance policies are only available to AARP members and they receive a high amount of complaints for homeowner’s insurance.
In the insurance industry, a peril is understood as an unexpected event that causes damage to your home or belongings. In general, a peril can include any of the following unexpected events:
However, not all perils are covered by insurance companies. For example, most insurance companies do not cover flood or earthquake damage, requiring you to purchase flood or earthquake insurance separately. Often, coverages for perils vary from state to state, depending on the common perils associated with that state.
Concerning Missouri, there are several different natural disasters and perils that are common to the Show-Me state that you should consider when purchasing homeowner’s insurance. According to the Official Missouri State Website, the perils and natural disasters that put Missouri homes at risk include:
Homeowners need a lot of information to make an informed decision about which policy. Here are some of the most common questions they have.
The vast majority of homeowner’s insurance companies in Missouri do not cover flood damage. Those that do, such as American Family, typically offer it through the National Flood Insurance Program (NFIP). In general, coverage for flood damage is typically bought separately through flood insurance.
In Missouri, insurance rates are calculated based on several factors. Any insurance company’s base rates are determined on the number of claims they pay out, their operating expenses and their overall profit. With that in mind, rates for individual members vary according to the following factors:
When shopping for homeowner’s insurance in Missouri, the best way to find the cheapest option with the best value is by looking around and comparing quotes. Not only will you have a better lay of the land when determining which company to purchase homeowner’s insurance from, but shopping for multiple quotes will also give you leverage when negotiating rates with different companies. Doing so will also provide you with insight into current market trends for homeowner’s insurance.
Some other ways to lower your premiums include increasing your deductible, bundling policies, and updating the protective devices and security mechanisms in your home.
The purpose of having homeowner’s insurance is to ensure you are covered should you experience any losses or damages to your house and belongings in an adverse event or disaster. With that in mind, you should ideally aim to purchase enough homeowner’s insurance to cover your home and all of your belongings in such an event.
If you are having trouble finding the forest for the trees amid the myriad insurance companies that provide homeowner’s insurance in Missouri, David Pope Insurance can help you determine the best coverage options for you! Please feel free to contact us for a quote or use our online calculator for an instant quote.
