The average cost of home insurance in Tempe, Arizona, ranges between $534 to $725. vHome’s analysis reveals that Tempe homeowners can save as much as $252 by comparing quotes from multiple home insurance companies. However, homeowners must also ensure that the coverage value meets their requirements. Below are the top 5 home insurance companies in Arizona by market share.
State Farm is the leading home insurance company in Tempe, occupying a market share of 17.97% in Arizona. The renowned home insurance company has written direct premiums worth $303,259 and has earned direct premiums worth $299,049. State Farm holds a financial strength rating of A++ from A.M. Best for its superior financial capacity to grant potential claims of current Tempe policyholders. It also received a customer satisfaction score of 4/5 from J.D. Power based on the feedback collected from policyholders.
Farmers is another major player in the insurance segment, holding a market share of 13.01% in Arizona. The company has direct premiums written for a total value of $219,578 and has earned direct premiums worth $220,278. Farmers holds a financial strength rating of A+ for their superior financial ability to grant claims of current Tempe policyholders. According to customer feedback curated by J.D. Power, Farmers received a customer satisfaction score of 3/5.
Even though USAA only offers its services to veterans, active, and retired military personnel, it has managed to hold a market share of 8.70%. It has direct premiums written worth $146,815, and direct premiums earned worth $142,816. USAA is the only home insurance company to receive a superior financial strength rating of A++ from A.M. Best and a perfect customer satisfaction score of 5/5 from J.D. Power.
According to NAIC, Liberty Mutual holds a market share of 8.64% in Arizona. The home insurance company has direct premiums written worth $145,779, and direct premiums earned worth $140,214. A.M. Best rated Liberty Mutual with an A for its excellent ability to grant potential claims of current policyholders. In terms of overall customer satisfaction, Liberty Mutual received a score of 3/5 from J.D. Power.
Allstate occupies 8.64% of the home insurance market in Arizona. It has written direct premiums of $145,772 and earned direct premiums of $145,509. Allstate has the superior financial ability in granting potential claims of current Tempe 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.