In Redmond, Washington, homeowners pay an average home insurance rate of $1,508, which is higher than the national average premium of $1,438. Redmond homeowners can narrow down the best home insurance companies by considering various factors. Below are the top 5 home insurance companies in Washington by market share.
State Farm is the most prominent company in Washington, occupying most of the market share with 17.01%. The renowned home insurance company has written direct premiums worth $311,354. It has earned direct premiums worth $303,989. State Farm holds a financial strength rating of A++ from A.M. Best for its superior financial capacity to grant current Redmond policyholders potential claims. It also received a customer satisfaction score of 4/5 from J.D. Power based on policyholders’ feedback.
According to NAIC, Liberty Mutual holds a market share of 13.70% in Washington. The home insurance company has direct premiums written worth $250,842 and direct premiums earned worth $242,419. A.M. Best rated Liberty Mutual with an A for its excellent ability to grant current policyholders’ potential claims. In terms of overall customer satisfaction, Liberty Mutual received a score of 3/5 from J.D. Power.
Farmers is another major player in the insurance segment holding a market share of 10.39% in Washington. The company has direct premiums written for a total value of $219,834. It has earned direct premiums worth $216,145. Farmers holds a financial strength rating of A+ for their superior financial ability to grant current Redmond policyholders’ claims. According to customer feedback curated by J.D. Power, Farmers received a customer satisfaction rating of 3/5.
Allstate occupies 9.51% of the home insurance market in Washington. It has written direct premiums of $174,162 and earned direct premiums of $171,396. Allstate has the superior financial ability in granting potential claims of current Redmond policyholders and has been awarded a rating of A+ from A.M. Best. It received a customer satisfaction score of 3/5 from J.D. Power’s customer feedback survey.
Even though USAA only offers its services to veterans, active and retired military personnel, it has managed to hold a market share of 8.61%. It has direct premiums written worth $157,564 and direct premiums earned worth $151,660. USAA is the only home insurance company other than State Farm to receive a financial strength rating of A++ for its superior financial ability to grant current Redmond policyholders’ claims. It also holds a perfect customer satisfaction score of 5/5 from J.D. Power.