Homesite Insurance Group insures only owner-occupied residential property, and partners with major auto insurance companies, like Progressive, National General (formerly GMAC), & GEICO, to offer home insurance coverage to their customers in some states. This blog post will review Homesite Insurance, evaluating its AM Best financial strength ratings, JD Power Claims & Customer Satisfaction ratings, and homeowner insurance customer complaints over the last five years, to let you know if Homesite Insurance performs better than average, average, or worse than average.
The homeowners (including condos, renters & mobile home) insurance complaint statistics will be analyzed for the subsidiary companies of Homesite Insurance Group, to determine whether each subsidiary, such as Homesite Insurance Company of the Midwest, has a better-than-average, average, or worse-than-average customer complaint record. I’ll also compare the home insurance complaint records for the Homesite subsidiary companies, with its major competitors, such as State Farm, Allstate, and Farmers Insurance.
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Homesite Insurance Review
Homesite Insurance Group, a leading direct writer of homeowners, renters & condominium insurance, was established in 1997, and offers products in 46 states and the District of Columbia. The company is the 24th largest homeowners insurer in the U.S., with 2012 written premium of $548 million. Its sales primarily occur through alliances with other insurers, such as GEICO & Progressive, as well as direct sales through its website and call centers. American Family Insurance announced its purchase of Homesite Insurance Group in September 2013.
This Homesite insurance group review is divided into four sections, consisting of: 1. its AM Best Financial Strength Ratings, 2. its JD Power ratings, 3. its 2009-2014 home insurance customer complaint record & change in market share, and 3. information about competing home insurance companies, and how their complaint records compare to the Homesite companies.
1. AM Best Financial Strength Ratings for the Homesite Insurance Companies
Homesite, not previously rated by AM Best, now has a financial strength rating in connection with its acquisition by American Family Insurance in 2013. The Homsite companies (Homesite Insurance Company, Homesite Indemnity Company, Homesite Insurance Company of the Midwest, Homesite Insurance Company of California, Homesite Insurance Company of Florida, Homesite Insurance Company of Georgia, Homesite Insurance Company of New York, Homesite Insurance Company of Illinois, and Homesite Lloyd’s of Texas) have an A (Excellent) AM Best Financial Strength Rating, with a stable outlook (no ratings upgrade or downgrade is expected in the near future) as of 5/07/2015. A is the third highest rating for AM Best. I become concerned with any car or homeowners insurance company or subsidiary with less than an A- rating for financial strength from AM Best.
AM Best financial strength ratings are not a measure of customer service or the quality of the claims adjusting for the Homesite insurance companies, but an opinion about their ability to pay claims, remain financially solvent, and stay in business. I recommend avoiding, if possible or practical, any auto or homeowners insurance company with lower than an “A-” rating for financial strength from AM Best.
Some major homeowners insurance companies have higher financial strength ratings than the Homesite companies, but the difference in financial strength among A++, A+, A, & A- rated companies is not significant to me unless higher rated companies are the same or better in terms of price, coverage, claims handling, and customer service.
2. Homesite Insurance JD Power Claims & Customer Satisfaction Ratings
Homesite Insurance Group has had too small a sample size, from having too few customers nationally compared to other major insurance companies, to be included in any of the recent annual JD Power insurance claims or customer satisfaction studies, which evaluate the largest insurance companies in the USA. Not being included in a JD Power insurance study does not make any of the Homesite Insurance Group companies better or worse than larger JD Power rated companies or better-known brands, but it does make it harder to objectively evaluate the quality of customer service provided by a company not rated by JD Power, like Homesite.
3. Homesite Insurance Group Homeowners Insurance Complaint Statistics & Ratings
Can positive or negative customer reviews help you choose a better home insurance company? Do customer reviews at least help you avoid home insurance companies with the worst customer service? You may really like your insurance company, or you may have been told by relatives or friends about the home insurance companies they think are best, but you never really know how good your insurance company will be, until you have a serious claim. The good news is many homeowners insurance companies settle a good portion of their claims in a manner acceptable to the majority of their customers. However, the wise consumer should avoid insurance companies with a worse than average history of home insurance complaints.
The most common reasons, for people to file home insurance complaints with a state insurance department against insurance companies, are for delays in a claim payment, unsatisfactory payment of a claim, and denial of a claim. The complaint statistics used in this Homesite insurance group review are the number of upheld complaints filed against the Homesite companies with a state’s insurance regulatory authority, adjusted for each company’s market share, as determined by the National Association of Insurance Commissioners. This review provides valuable information to help you decide if Homesite is best for you. By choosing a company with a better-than-average complaint history, or at least avoiding companies with consistent, worse-than-average complaint records, you decrease the likelihood you will have a negative experience, when you need your homeowners insurance company.
Homesite Insurance Group sells home, condo, flood, & renters insurance through the eight subsidiary companies listed below. The use of more than one home insurance subsidiary company is usually to offer different pricing to specific risk profiles (high risk versus standard or preferred risk), or operate in a certain US state or group of states. The subsidiary, Homesite Lloyds of Texas, has no home insurance policies in force in 2014 or recent years, so it is not included in this review.
A recent rapid increase or decrease in market share may indicate whether a company or subsidiary has higher or lower insurance rates for at least some people. Below I show & comment about the change in homeowners market share for each Homesite subsidiary.
The complaint statistics for the Homesite insurance companies listed below were calculated by the NAIC, and display the ratio of the company’s U.S. market share of closed complaints compared to its U.S. market share of premiums for a specific policy type. Complaint ratios lower than “1” have less complaints than average, and complaint ratios over “1” have more complaints than average. The lower the complaint ratio, the less complaints against the company. Ideally, you want to choose an insurance company with complaint ratios much less than 1.00 each year, over the last three years.
So you don’t have to worry about comparing complaint ratio numbers, I devised a rating system to help you identify if a Homesite insurance subsidiary has a good or poor complaint record.
Here’s how I establish my home insurance complaint ratings:
B = Better than average. Insurance companies with complaint ratios less than 75% of the average insurance company.
C = Average. Insurance companies with complaint ratios from 75% to 125% of the average insurance company. I use a minus sign (-) to indicate auto insurance complaint ratios slightly worse than average (1.05 to 1.25) and a plus sign (+) for auto insurance complaint ratios slightly better than average (.95 to .75).
W = Worse than average. Insurance companies with complaint ratios more than 125% of the average insurance company.
I prefer companies with the longest recent history of “B” ratings each year (or at least in the most recent three years). Companies with “B” or “C+” ratings are okay, too, particularly if they have less market share, with less than $50,000,000 in premiums for that line of insurance (auto or home) each year. I prefer to avoid companies with a consistently higher than average number of complaints, or with inconsistent complaint records, unless there are mitigating factors, such as very small market share.
Here is the home insurance complaint data for each Homesite subsidiary:
B = Better than Average C = Average W = Worse than Average
2017 Home Insurance Complaint Ratio = C (1.06)
2017 US home insurance premium = $245,044,918
2016 Home Insurance Complaint Ratio = C- (1.14)
2016 US home insurance premium = $357,014,315
2015 Home Insurance Complaint Ratio = W (1.25)
2015 US home insurance premium = $294,097,993
2014 Home Insurance Complaint Ratio = C- (1.20)
2014 US home insurance premium = $252,169,697
2013 Home Insurance Complaint Ratio = W (1.58)
2013 US home insurance premium = $223,287,308
2012 Home Insurance Complaint Ratio = W (3.45)
2012 US home insurance premium = $183,353,667
2011 Home Insurance Complaint Ratio = W (3.72)
2011 US home insurance premium = $163,411,803
2010 Home Insurance Complaint Ratio = W (2.08)
2010 US home insurance premium = $135,581,290
2009 Home Insurance Complaint Ratio = W (3.25)
Homesite Insurance Company is available in Connecticut, Delaware, Idaho, Kentucky, Louisiana, Mississippi, North Carolina, New Jersey, Pennsylvania, Rhode Island, Virginia, & Wisconsin.
Homesite Insurance Company has a higher than average number of home insurance complaints each year from 2009 to 2014 (although improving toward the average in 2013 & 2014), with its number of home insurance complaints in its worst performing year during the six-year period at 372% of the industry average.
The home insurance market share for Homesite Insurance Company has increased each year since 2010, which may indicate Homesite Insurance Company has competitive home insurance rates in at least some of the states where this subsidiary operates.
B = Better than Average C = Average W = Worse than Average
2017 Home Insurance Complaint Ratio = B (.67)
2017 US home insurance premium = $393,934,246
2016 Home Insurance Complaint Ratio = C (1.08)
2016 US home insurance premium = $330,496,865
2015 Home Insurance Complaint Ratio = C (.98)
2015 US home insurance premium = $245,044,918
2014 Home Insurance Complaint Ratio = W (1.87)
2014 US home insurance premium = $206,898,006
2013 Home Insurance Complaint Ratio = W (1.73)
2013 US home insurance premium = $184,660,982
2012 Home Insurance Complaint Ratio = W (2.81)
2012 US home insurance premium = $167,578,812
2011 Home Insurance Complaint Ratio = W (4.10)
2011 US home insurance premium = $153,999,188
2010 Home Insurance Complaint Ratio = W (2.06)
2010 US home insurance premium = $141,418,052
2009 Home Insurance Complaint Ratio = W (3.25)
Homesite Insurance Company of the Midwest is available in Alabama, Arkansas, District of Columbia, Georgia, Iowa, Indiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Montana, North Dakota, New Hampshire, Ohio, Oregon, South Carolina, South Dakota, Tennessee, Vermont, Washington, & West Virginia.
Homesite Insurance Company of the Midwest has a worse-than-average home insurance complaint history each & every year from 2009 to 2014, with its number of home insurance complaints in its worst performing year during this period at 410% of the industry average.
The home insurance market share for Homesite Insurance Company of the Midwest has increased each year since 2010, which may indicate Homesite Insurance Company of the Midwest has competitive home insurance rates in at least some of the states where this subsidiary operates.
B = Better than Average C = Average W = Worse than Average
2017 Home Insurance Complaint Ratio = W (1.62)
2017 US home insurance premium = $81,023,783
2016 Home Insurance Complaint Ratio = C+ (.77)
2016 US home insurance premium = $81,960,422
2015 Home Insurance Complaint Ratio = W (1.29)
2015 US home insurance premium = $84,844,543
2014 Home Insurance Complaint Ratio = W (1.39)
2014 US home insurance premium = $79,369,887
2013 Home Insurance Complaint Ratio = W (2.17)
2013 US home insurance premium = $76,195,465
2012 Home Insurance Complaint Ratio = W (6.11)
2012 US home insurance premium = $70,315,206
2011 Home Insurance Complaint Ratio = W (8.97)
2011 US home insurance premium = $66,832,791
2010 Home Insurance Complaint Ratio = W (5.08)
2010 US home insurance premium = $53,777,136
2009 Home Insurance Complaint Ratio = W (9.04)
Homesite Indemnity Company is available in Arizona, Colorado, Kansas, Missouri, Nebraska, New Mexico, Nevada, Oklahoma, Utah, & Wyoming.
Homesite Indemnity Company has a worse-than-average home insurance complaint history each year since 2009, with its number of home insurance complaints in its worst performing year during this period at 904% of the industry average.
The home insurance market share for Homesite Indemnity Company has increased each year since 2010, which may indicate Homesite Indemnity Company has competitive home insurance rates in at least some of the states where this subsidiary operates.
B = Better than Average C = Average W = Worse than Average
2017 Home Insurance Complaint Ratio = W (1.71)
2017 US home insurance premium = $102,668,256
2016 Home Insurance Complaint Ratio = W (2.70)
2016 US home insurance premium = $85,498,151
2015 Home Insurance Complaint Ratio = W (3.25)
2015 US home insurance premium = $64,376,117
2014 Home Insurance Complaint Ratio = W (1.32)
2014 US home insurance premium = $48,626,821
2013 Home Insurance Complaint Ratio = C- (1.12)
2013 US home insurance premium = $39,323,941
2012 Home Insurance Complaint Ratio = W (1.45)
2012 US home insurance premium = $27,912,233
2011 Home Insurance Complaint Ratio = W (1.70)
2011 US home insurance premium = $23,879,684
2010 Home Insurance Complaint Ratio = W (2.28)
2010 US home insurance premium = $19,982,028
2009 Home Insurance Complaint Ratio = W (7.01)
Homesite Insurance Company of California is available in California only.
Homesite Insurance Company of CA has a higher than average number of home insurance complaints every year since 2009, with its number of home insurance complaints in its worst performing year during this period at 701% of the industry average.
The home insurance market share for Homesite Insurance Company of California has increased each year since 2010, which may indicate Homesite Insurance Company of CA has competitive home insurance rates in the state of California.
B = Better than Average C = Average W = Worse than Average
2017 Home Insurance Complaint Ratio = B (0) (No complaints)
2017 US home insurance premium = $15,722,997
2016 Home Insurance Complaint Ratio = B (.63)
2016 US home insurance premium = $16,731,276
2015 Home Insurance Complaint Ratio = B (.57)
2015 US home insurance premium = $17,439,581
2014 Home Insurance Complaint Ratio = B (0) (No complaints)
2014 US home insurance premium = $18,367,148
2013 Home Insurance Complaint Ratio = B (.62)
2013 US home insurance premium = $17,703,945
2012 Home Insurance Complaint Ratio = B (.49)
2012 US home insurance premium = $16,607,148
2011 Home Insurance Complaint Ratio = W (1.58)
2011 US home insurance premium = $15,395,327
2010 Home Insurance Complaint Ratio = C+ (.79)
2010 US home insurance premium = $11,510,899
2009 Home Insurance Complaint Ratio = C+ (.91)
Homesite Insurance Company of Illinois is available in Illinois only.
Homesite Insurance Company of IL had a lower than average number of home insurance complaints in five of the last six years, with its number of home insurance complaints in its worst performing year during this period (2011) at 58% more than the industry average.
The home insurance market share for Homesite Insurance Company of Illinois remained about the same from 2013 to 2014, which may indicate Homesite Insurance Company of Illinois no longer has competitive home insurance rates in the state of Illinois.
B = Better than Average C = Average W = Worse than Average
2017 Home Insurance Complaint Ratio = C- (1.16)
2017 US home insurance premium = $37,662,604
2016 Home Insurance Complaint Ratio = B (.60)
2016 US home insurance premium = $35,162,223
2015 Home Insurance Complaint Ratio = C (.99)
2015 US home insurance premium = $20,103,839
2014 Home Insurance Complaint Ratio = W (1.78)
2014 US home insurance premium = $15,553,082
2013 Home Insurance Complaint Ratio = W (1.35)
2013 US home insurance premium = $16,331,193
2012 Home Insurance Complaint Ratio = B (.48)
2012 US home insurance premium = $16,781,150
2011 Home Insurance Complaint Ratio = B (0) (No complaints)
2011 US home insurance premium = $18,346,433
2010 Home Insurance Complaint Ratio = W (3.50)
2010 US home insurance premium = $2,604,426
2009 Home Insurance Complaint Ratio = No policies in force.
2009 US home insurance premium = $0
Homesite Insurance Company of Georgia is available in Georgia & Pennsylvania only.
Homesite Insurance Company of GA had a worse than average number of home insurance complaints in each of the most recent two years. Its number of home insurance complaints in its most recent year of 2014 was 78% more than the industry average.
The home insurance market share for Homesite Insurance Company of Georgia has decreased each year since 2011, which may indicate Homesite Insurance Company of GA no longer has competitive home insurance rates.
B = Better than Average C = Average W = Worse than Average
2017 Home Insurance Complaint Ratio = B (.18)
2017 US home insurance premium = $61,111,638
2016 Home Insurance Complaint Ratio = B (.37)
2016 US home insurance premium = $56,132,663
2015 Home Insurance Complaint Ratio = B (0) (No complaints)
2015 US home insurance premium = $52,554,345
2014 Home Insurance Complaint Ratio = B (0) (No complaints)
2014 US home insurance premium = $46,615,340
2013 Home Insurance Complaint Ratio = C (1.06)
2013 US home insurance premium = $41,445,113
2012 Home Insurance Complaint Ratio = W (1.65)
2012 US home insurance premium = $34,393,680
2011 Home Insurance Complaint Ratio = W (2.23)
2011 US home insurance premium = $29,036,430
2010 Home Insurance Complaint Ratio = B (0) (No complaints)
2010 US home insurance premium = $20,650,394
2009 Home Insurance Complaint Ratio = W (3.06)
Homesite Insurance Company of New York is available in New York only.
Homesite Insurance Company of NY has a higher than average number of home insurance complaints in four of the last six years, with its number of home insurance complaints in 2012 at 65% more than the industry average.
The home insurance market share for Homesite Insurance Company of New York has increased each year since 2010, which may indicate Homesite Insurance Company of New York has competitive home insurance rates in New York.
B = Better than Average C = Average W = Worse than Average
2017 Home Insurance Complaint Ratio = B (0) (No complaints)
2017 US home insurance premium = $20,005,238
2016 Home Insurance Complaint Ratio = C+ (.77)
2016 US home insurance premium = $13,594,956
2015 Home Insurance Complaint Ratio = B (0) (No complaints)
2015 US home insurance premium = $4,738,896
2014 Home Insurance Complaint Ratio = B (0) (No complaints)
2014 US home insurance premium = $23,594
2013 Home Insurance Complaint Ratio = No FL home insurance policies in force
2013 US home insurance premium = $0
2012 Home Insurance Complaint Ratio = B (0) (No complaints)
2012 US home insurance premium = $738,518
2011 Home Insurance Complaint Ratio = W (3.99)
2011 US home insurance premium = $2,028,236
2010 Home Insurance Complaint Ratio = W (4.00)
2010 US home insurance premium = $2,273,112
2009 Home Insurance Complaint Ratio = W (10.45)
Homesite Insurance Company of Florida insures homes in Florida only. It was a small subsidiary with little homeowners market share in 2010, but with no home insurance premiums in 2013, it looks like Homesite Insurance Company of Florida canceled all of its Florida home insurance customers between 2011 & 2012. Homesite Insurance Company of Florida had $23,594 in home insurance premiums for 2014, but this is too low a number to assume this subsidiary is selling policies again, until we see its market share for 2015.
4. Homesite Insurance Group Home Insurance Complaint Ratings Compared to Major Competitors
Homesite homeowners insurance complaint record considering all its subsidiaries:
Worse than average
Below is how the homeowners insurance complaint record for the Homesite companies compare to a few major competitors. You can also go to this review on my website here, to see at a glance how Homesite performs compared to over 40 other U.S. home insurance companies.
Allstate Insurance
Home insurance complaint record: Most of the Allstate subsidiaries have a history of better annual home insurance complaint ratios than the larger Homesite companies.
You can check Allstate’s complaint statistics in my Allstate Insurance complaints & ratings review here.
State Farm Insurance
Home insurance complaint record: The State Farm subsidiaries have a history of better annual home insurance complaint ratios than the Homesite companies.
You can check the State Farm complaint statistics in my State Farm Insurance complaints & ratings review here.
Farmers Insurance
Home insurance complaint record: Most of the Farmers Insurance Group companies have a history of better annual home insurance complaint ratios than the larger Homesite companies.
You can check the Farmers complaint statistics in my Farmers Insurance complaints & ratings review here.