Most of us don’t think about our insurance policies too often. That likely won’t be a topic of discussion at your next summer party. But knowing what kind of coverage other homeowners have — and whether they’re satisfied with their providers — can be helpful. Last month, insurance review platform Clearsurance used data from their site’s crowdsourced ratings to rank the happiest (and least happy) states for homeowners. The Massachusetts-based company’s ratings are based on each user’s overall experience with their insurer and their coverage, customer service, likelihood to renew and likelihood to recommend the carrier. Check out the results and see where your state falls on the insurance satisfaction spectrum.
The happiest states
- West Virginia
- Washington D.C.
The least happy states
- New York
Weather is one factor that determines whether a policyholder is happy with their insurance provider. According to Clearsurance, homeowners in the least happy states mentioned damaging weather-related incidents in their reviews nearly twice as often as those in the happiest states. Florida, the least happy state for homeowners insurance policyholders, is the most hurricane-prone state in the country. Mississippi (fourth on the list of least happy states for home insurance policyholders) and Georgia (seventh on the list) aren’t far behind. The fifth least happy state (Kansas) and 10th least happy state (Texas) have the highest tornado incidence rates in the country. Hail and ice storms are common in both Texas and Colorado — the second least happy state — while snowfall regularly graces New York and Connecticut, other states with homeowners who are least satisfied with their insurers.The majority of the homeowners in the happiest states for insurance policyholders spend an amount on premiums that’s below the national average - according to the Insurance Information Institute Click To Tweet
Cost matters, too, in homeowner’s overall customer satisfaction with their home insurance company. Using data from the National Association of Insurance Commissioners, the Insurance Information Institute ranked states based on the average cost of insurance premiums for homeowners. The majority of the homeowners in the happiest states for insurance policyholders spend an amount on premiums that’s below the national average. In five of the least happy states (Florida, Texas, Kansas, Mississippi and Colorado) premium costs are above average. Premiums might be relative, but consistent rate increases and poor service may leave some homeowners feeling like they’re spending too much money on home insurance.
Reviewing your homeowners insurance policy
A home is probably the largest purchase you’ll ever make. That’s why having homeowners insurance is important. No matter where you live or how content you are with your coverage, it’s important to review your insurance policy every year.Find out the current value of your home using a valuation tool like the one offered by Zillow. Then, assess the value of the items inside your home. Creating a video inventory to help you keep track of what you have is always a… Click To Tweet
Find out the current value of your home using a valuation tool like the one offered by Zillow. Then, assess the value of the items inside your home. Creating a video inventory to help you keep track of what you have is always a good idea. You should also notify your insurer about any recent changes that you’ve made to your home. If you’ve ever filed a claim, consider whether the provider was helpful during the process. With all of this in mind, evaluate whether your policy and provider are a good fit.
How to switch homeowners insurance providers
If your home insurance carrier doesn’t meet your needs, seems too expensive or isn’t providing the level of service you desire, it might be time to switch providers. Some providers offer discounts for sticking around, but others offer new customers substantial reductions. While you can take others’ opinions into account by reading home insurance company reviews, you should make a decision based on your own experience with the company.
If you’re ready to change insurance companies, start searching for a new one. Compare quotes, coverage and customer service style. Take the time to understand home insurance company rankings and how they deal with specific customer service issues. Don’t be afraid to ask potential providers about any specific coverage limitations. Find out how they handle the claims process and ask about average deductibles in your area.
Found a provider you prefer? Fill out an application. Some carriers offer their forms online, while others like Hippo have developed a streamline digital option. You can also always reach out to a licensed representative on the phone, if you’d prefer to speak with someone live. If your application is accepted, find out when your new policy will become effective. Then, make sure you cancel your policy at the right time so you’re not temporarily underinsured. Finally, tell your mortgage lender about the switch.
Don’t feel bad if you’re ready for a change. You deserve to have an insurance provider that makes you happy! If you have questions about switching homeowners insurance carriers, contact a Hippo specialist. We’re here to help!