Homesite Insurance Review 2023

Home insurance from Homesite insurance offers affordable rates to potential customers. However, it lacks coverage options and excellent customer service usually associated with top providers. 

The coverage that Homesite basic home insurance policy provides falls a little short of what other competitors typically offer. Remember to check our list of best home insurance providers to compare offers and rates. 

However, if you’re only looking for the lowest price, Homesite could be sufficient for you and your family, especially if you’re willing to overlook its poor service. Like other affordable options for home insurance, Homesite requires its customers to pay a separate hail deductible before they can file a claim. Moreover, they must purchase added liability protection to get coverage from slander or libel suits. 

Our Methodology

Our methodology is based on:

• Info about the company
• States available
• Coverage provided by Homesite insurance company
• Customer reviews
• Customer support
• How easy it is to purchase a Homesite insurance policy
• Financial stability of Homesite
• How Homesite insurance stands against competitors

About the Company

Homesite insurance started operations back in 1997. It was one of the first few insurers that sold home insurance instantly online. 

In 2014, the company was purchased by American Family Insurance, after which it expanded into more insurance products, such as life, commercial, and auto insurance. 

Its policies are issued and underwritten by affiliates and member companies that belong to the Homesite insurance group. 

States Available

Homesite insurance policies are available in 48 states apart from Alaska and Hawaii. However, the chances of you getting insurance also depend on the licensed agent you’re working with. Since with their license, they might get you coverage in one state but not in another. 

What Is Covered by a Homesite Home Insurance Policy?

Homesite is one of the fastest-growing home insurance companies in the US. Its insurance products are designed to protect customers against human-caused and natural risks. Its coverages include:

• Home
• Condo
• Auto
• Renters
• Small business
• Term Life

Customers can also purchase additional flood insurance. 

In a standard Homesite homeowners insurance policy, you can expect to see:

Dwelling Coverage

This insurance option helps pay for the loss and damage to your home caused by the covered peril. The amount of coverage you get depends on the amount of money needed to restore your home to its original condition.

Personal Possessions

This coverage helps replace or repair damaged belongings resulting from burglary, natural disaster, or an act of vandalism. However, it’s also important to remember that standard coverage doesn’t cover some valuables, such as family heirlooms, jewelry, or antiques. 

Loss of Use 

If you have to leave your home temporarily due to the damages your house has sustained, loss of use can pay for hotel stays, Airbnb, or any additional food expenses. 

Medical Payments

This coverage provides medical costs in case someone gets injured in your house. So even if you, a family member, or a pet may not have been at fault, this insurance option can pay the bill. 

Other Homesite Insurance Policies

The basic Homesite insurance policy doesn’t offer as many riders or endorsements as other insurance providers. Homesite clients who want to add additional insurance options to their basic plan can choose from the following options:

• Identity Theft Protection: This option can give you up to $15,000 in coverage for the expenses that result from the identity theft. 
• Personal Liability Protection: This endorsement option covers you from slander, invasion of privacy, and libel. 
• Personal Property Coverage: If you own valuable items like musical instruments, jewelry, golf equipment, fine art, etc., you may want to consider this endorsement option. It will provide open perils coverage for all your items.

• Extended Coverage for Home: It provides homeowners with 25% to 50% added coverage in addition to home insurance. It can help cover the cost of replacing your home if standard coverage doesn’t get the job done. 

• Customized Coverage: Based on your conditions, Homesite can provide you with a personalized quote tailored to your preferences and needs.

Cost of Premiums

The insurance carrier will factor in the following conditions during the underwriting process:

• Deductible
• Location
• How close you are to a fire station
• Age of home and its size
• The roof’s condition
• Previous claims 
• Home maintenance systems and security devices
• Credit history
• If there’s a hot tub, wood-burning stove, or a swimming pool on your property
• Dog bite incidents
• Cost of replacement

How Easy Is It to Purchase a Homesite Insurance Policy?

Purchasing an insurance policy from Homesite is easy. You only need to visit the official website, enter your zip code, and click on the “start a quote” option. After that, you have to fill out the form that pops up so that Homesite can give you a customized quote based on your preferences. 

If you want to learn more about the different kinds of products it offers, you can visit the products page on the official website. If things still aren’t clear, you can also reach the contact center by calling 1-800-947-0713.

Homesite Home Insurance and Discounts

There are several home insurance discounts to ask for; some of them are:

• • Newer features: If you have newer features in your home, you can be eligible for a discount. 
  • Auto-pay discount: Autopay costs $5. If you pay it monthly, you can get a reduced rate from $5 to $3, which will save you a total of $24 per year. If you opt for a 10-month payment, your fees can reduce from $45 to $33 per year.
  • Safety features: A monitored home alarm system, fire alarm, indoor sprinkler system, or deadbolts can all help you qualify for a reduced rate on your coverage. 
  • Drive home: You can save up to 10% by bundling your auto and home insurance policies.

• Installation of home maintenance systems and security devices: You can also get additional savings by installing smoke detectors, automatic sprinklers, security systems, and deadbolts.

• New home: If you’ve moved into a new home, you’re eligible for a discount.  

Homesite Ratings and Customer Satisfaction 

In most Homesite home insurance reviews, the company is often rated poorly for all services. For example, in the J.D. Power customer survey of 2020, the company ranked 18th out of 19 in property claims satisfaction. It also was 22nd out of 23 in terms of customer satisfaction. 

Even though Homesite receives criticism based on customer satisfaction and service, it has fewer complaints than an insurer of its size.

Study	Result
J.D. Power Property Claims Satisfaction Study	Below average
J.D. Power Home Insurance Research	Below average
NAIC Complaints Index 2019	2.06 (double than the industry average)

Homesite started off operations with a cutting-edge approach towards customer innovation. Unfortunately, we can’t confirm the same now since the company receives several negative reviews online. In addition, for some people, contacting customer service to discuss insurance coverage is a challenge. 

Homesite has more than three times the average number of complaints registered against it. The National Association of Insurance Commissioners compiles these complaints and then compares them with the industry average. The industry average set by NAIC is 1.0. It means that if a company gets a score of 0.5, it has half the number of complaints as the average. 

In mid-July 2021, Homesite‘s score was 3.28. 

Financial Stability of Homesite Insurance

An insurance customer must be sure that their insurer will be there whenever they go through severe loss. If you’d like to know whether you can trust an insurer to pay out your claims, look at the company’s financial stability. AM Best is one of those companies that rates insurers based on their financial strength.

The Homesite insurance AM best rating is an A (excellent), two grades below the highest rating of A++. It means that in case of a loss, customers can trust Homesite insurance for any future claims. 

Claim Handling

Policyholders can file insurance claims online or call the Homesite claims phone number: 1-866-621-4823. 

After you’ve suffered a loss, you should:

• Take extra measures to protect your house from additional damage.
• Make an inventory of the caused damage and take photographs of your personal belongings that need to be repaired or replaced.
• Hold on to any recent receipts to present to your adjuster.
• If someone gets injured or someone’s property gets damaged, provide their contact information and name.

Comparison with Competitors

Typically, Homesite offers more affordable home insurance than its competitors, such as State Farm, Liberty Mutual, and Allstate. If you request information for a house in an area where Homesite has the largest market share, you’ll get the cheapest home insurance rates. 

For instance, here are the quotes for a $275,000 coverage:

$949 ← Homesite Insurance Company vs State Farm → $1,175 $949 ← Homesite Insurance vs Liberty Mutual → $1,921 $949 ← Homesite vs Allstate → $1,971

Even though insurers use an online form and let you request quotes instantly, comparing and customizing homeowners insurance quotes with Homesite isn’t easy. 

The cost to insure your home with an insurance policy from Homesite has a distinct baseline. Even though you can add extra coverage depending on your home’s value, you won’t be able to purchase $150,000 worth of coverage if the company values your home at $160,000.