Insurance

Best Property & Casualty Insurance 2021

Best Property & Casualty Insurance
Best Property & Casualty Insurance 2021.

While you hope to never actually need the coverage, finding and buying the best casualty insurance can help shield you and your family from devastating monetary loss, and offer you peace of mind along the way. These insurance policies—which include coverage for homeowners, renters, drivers, and more—protect liable customers from unexpected loss, damage, and even litigation (lawsuits).

Although auto insurance claims for physical damage average about $3,750, physical injury expenses from car accidents average nearly $18,500, demonstrating the need for casualty coverage.1 Without casualty insurance coverage, these everyday circumstances could turn into financial disasters if you are found liable for someone else’s injuries, property damage, or loss. If sued, you could be left covering these expenses out of your own pocket.

It’s easy to see why this coverage is imperative, but finding the best casualty insurance can be tricky, depending on the type of insurance you want to buy and the level of coverage you need in order to feel protected.

To help with your search, we have sifted through more than 20 insurance carriers to find the best insurance companies for you. We have compared not only cost and coverage availability but also financial strength ratings, accessibility, consumer satisfaction reports, and product availability. Keep reading to see which leading companies we chose for the best casualty insurance coverage, and why we picked each one.

The Best Casualty Insurance for 2021

  • Best Overall: State Farm
  • Best Value: Allstate
  • Best Auto Coverage: GEICO
  • Best Homeowners Coverage: Amica Mutual
  • Best Renters Coverage: Lemonade
  • Best Business Coverage: The Hartford
Best Casualty Insurance
  • State Farm
  • Allstate
  • GEICO
  • Amica Mutual
  • Lemonade
  • The Hartford
  • Bottom Line
  • Compare Providers
  • FAQs
  • Methodology

BEST OVERALLState Farm

statefarm

We picked State Farm as the best casualty insurance company overall due to its consistently high satisfaction ratings and a wide variety of policy types that are offered across the country.

Pros

  • Available in all states and the District of Columbia
  • Many policy types offered
  • Top consumer satisfaction ratings
  • Online quotes, guides, and resources
Cons

  • Policies managed by local agents
  • Discounts can be limited

Founded in 1922, State Farm is a well-trusted name in the insurance industry, insuring more homes and vehicles than any other U.S. insurance carrier. The company offers a variety of both casualty and property coverage options, so you can blend policies to create the coverage you need.

State Farm’s options include home, renters, condo, auto, life, boat, motorcycle, motorhome, ATV, liability, health, small business, and disability insurance. State Farm holds an A++ financial strength rating from AM Best—the highest possible—and earns consistently high consumer satisfaction ratings, even taking the seventh in the J.D. Power 2020 U.S. Home Insurance Study.2

We named State Farm as our overall pick for casualty insurance thanks, in part, to these habitually high ratings. And the fact that they offer policies in all 50 states and the District of Columbia makes coverage accessible to customers everywhere. It’s important to note, though, that while State Farm offers insurance across the country, not all products, services, and/or discounts are available in every state.

Quotes for many different policies can be obtained online or by contacting a local State Farm agent. You’ll also need to purchase your coverage through one of these independent agents, rather than being able to just buy online. Customers can save money by bundling multiple policies together, though State Farm is more limited in terms of standalone discounts than some other carriers.

Claims can be filed online, in the State Farm mobile app, or through your local agent. If you need help with your policy or adding coverage, many answers can be found online through State Farm’s comprehensive resource library. You can also contact State Farm customer service or reach out to your local, independent agent.

If you want to learn more about this carrier, check out our State Farm Home Insurance Review.

BEST VALUEAllstate

allstate

Along with a variety of policy types and coverage in all 50 states, Allstate gives customers the ability to save up to 25% by bundling certain insurance policies together, earning this carrier our top nod for value.

Pros

  • Offered in all 50 states
  • Many policy types to choose from
  • Save up to 25% by bundling
Cons

  • Need to work with a local agent
  • Online quotes not available for everyone

Allstate is a highly rated carrier offering a variety of casualty insurance products across the United States. In fact, Allstate is currently the largest publicly held personal lines insurer in the country, with more than 80 years of trusted coverage, and holds an A+ (Superior) financial strength rating from AM Best.3 They also ranked sixth out of 23 carriers in the 2020 J.D. Power U.S. Home Insurance Study and eighth in the 2020 U.S. Auto Claims Satisfaction Study.42

Through Allstate, consumers can purchase many different types of policies, which include casualty and, if desired, full-coverage protection. The policies offered include auto, home, renters, condo, motorcycle, off-road, roadside, business, and life insurance policies.

There are many different cost-saving opportunities no matter which type of coverage you need, and you can save up to 25% on your premiums by bundling certain policies together, which is why we picked Allstate as the best casualty insurance if you’re looking for value.

For instance, homeowners can take advantage of claims-free and responsible payment discounts; drivers can save with student, good driver, new car, paper-free billing, and early signing discounts; and renters will enjoy 55+, claims-free, and security equipment discounts, to name just a few. Plus, Allstate offers savings just for holding more than one of these policies.

While you can get quotes online for some Allstate products, you’ll need to work with an agent in order to personalize and purchase coverage. Allstate has more than 12,000 agents across the country, making it easy to find someone local to work with. Most claims can be filed online, through the easy-to-use Allstate app, or directly with your agent.

To learn more about Allstate products and services, you can read our comprehensive Allstate Home Insurance Review and Allstate Car Insurance Review.

BEST AUTO COVERAGEGEICO

geico

With top customer satisfaction ratings, a slew of discounts, 24/7/365 customer service, and a range of vehicles that can be covered, GEICO easily wins our pick for the best auto casualty insurance.

Pros

  • Excellent third-party and customer ratings
  • Customer service available 24/7/365
  • Coverage offered for many vehicle types
  • Variety of discount options
  • Coverage can be purchased online
  • Available in all 50 states and Washington, D.C.
Cons

  • Gap coverage not offered
  • Accident forgiveness not available in every state
  • Agents can be limited in some areas

Easily snagging our top spot for the best auto casualty insurance is GEICO, a carrier that has been offering coverage since 1936. Today, GEICO has written more than 17 million policies to customers across the country, and operates in all 50 states plus the District of Columbia. While GEICO offers more than just car insurance, its reputation for trusted auto coverage, claims satisfaction, solid discounts, and customer service accessibility make it an obvious choice for drivers everywhere as one of the best car insurance companies around.

The company was also recognized as J.D. Power’s Highest Customer Satisfaction Among Auto Insurers in the Northwest and North Central Regions in 2020 and holds an A++ (Superior) financial strength rating from AM Best—the highest rating possible.5

Through GEICO, drivers can buy casualty insurance policies for their cars as well as their motorcycles, RVs, boats, ATVs, and collector cars. Additionally, GEICO is one of the few carriers to offer rideshare insurance to drivers who work for platforms like Uber and Lyft. Gap coverage is not currently offered through this carrier.

There are many discounts to choose from when buying auto insurance coverage through GEICO, and they offer accident forgiveness to drivers in many states. You can buy a policy online or through a local agent, but just note that some areas may have a limited number of agents available. Claims can be reported and tracked online, through the mobile app, over the phone, or with your agent.

Check out our full GEICO Car Insurance Review to learn more about this carrier and its coverage options.

BEST HOMEOWNERS COVERAGEAmica Mutual

amica

As our pick for homeowners casualty insurance, Amica Mutual earns top customer service ratings, provides a wide array of discounts, and even links customers to a network of trusted contractors for their various home improvement projects.

Pros

  • Top consumer and claims satisfaction ratings
  • Provides annual dividends to customers
  • Online quotes offered
  • Variety of discount options
  • 24/7 customer service
Cons

  • Not available in all states
  • Some services and benefits not available in all states
  • No local agents

If you’re shopping around for a new homeowners insurance policy, consider the coverage available from our top homeowners pick, Amica Mutual. This carrier offers affordable casualty insurance for homeowners that consistently receives highest-possible ratings, pays out dividends to eligible customers, and provides many opportunities for discounts and/or bundling.

Amica Mutual was founded in Rhode Island in 1907 and is the oldest mutual auto insurer in the United States. Today, they also offer homeowners coverage as well as insurance for renters, condos, life, small business, motorcycles, boats, events, and pets, to name a few.

On select homeowners policies, customers are eligible to receive dividend payouts each year. The company also offers discounts for bundling multiple policies as well as being a loyal customer (two years or more), signing up for auto-pay, having certain equipment in your home (sprinklers, burglar alarm system, fire alarms, etc.), or purchasing a new or remodeled home, to name a few.

Homeowners coverage is not offered in Alaska or Hawaii at this time. Also, certain features and coverage options are not available in some states.

Amica customer service can be reached 24/7 and they offer quotes both online or over the phone. There are no local agents, however, so if you prefer an in-person experience, you may want to go with a different provider.

The company has received an A+ (Superior) financial strength rating from AM Best, as well as top marks from every category in J.D. Power’s annual U.S. Home Insurance Study for the past 10 years.2

To learn more, read our full Amica Home Insurance review.

BEST RENTERS COVERAGELemonade

lemonade
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Using AI technology, Lemonade offers easy-to-manage renters insurance coverage starting at only $5 a month and earns top marks for customer satisfaction.

Pros

  • Renters insurance starting at $5 per month
  • High customer satisfaction ratings
  • App-based and easy to manage
  • Excess profits are donated to chosen causes
  • 90 seconds to buy coverage
  • Three minutes to get paid out for claims
Cons

  • Only available in 23 states
  • Limited coverage and bundling options
  • No agents available

Since its introduction in 2015, Lemonade has aimed to disrupt the traditional renters and homeowners insurance model. Policies—which are managed through a top-rated mobile app—provide instant protection for customers looking for renters, homeowners, condo, or co-op insurance, and even pet coverage, all at an excellent price.

We chose Lemonade as our top pick for renters casualty coverage because they offer policies starting at only $5 a month, claims are simple to file and pay out instantly, and the carrier receives top marks in customer satisfaction. Their mobile app makes it easy to buy or manage your policy, file a claim, and even cancel coverage day or night.

You can purchase a policy in about 90 seconds online, and approved claims are paid out in as little as three minutes. Claim payments are issued directly to your bank account, minus your deductible (“contribution”).

Online quotes can be obtained in just minutes, from your computer or smartphone. If you prefer working with a real-life person to manage your policy, you should note that there are no agents at Lemonade. Additionally, customer service is limited to emails; they do provide a phone number for emergencies or when you’re unable to access your policy by computer or phone. However, there is not a dedicated toll-free number for everyday questions.

While Lemonade is not yet rated by AM Best, the company has been awarded an A (Exceptional) rating from Demotech for financial stability.6 Lemonade was also given the highest satisfaction rating among renters insurance providers in the latest J.D. Power U.S. Home Insurance Study (2020).2

Lemonade renters insurance is currently available in 27 states and the Washington, D.C.: Arizona, Arkansas, California, Colorado, Connecticut, District of Columbia, Georgia, Illinois, Indiana, Iowa, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New Mexico, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, Tennessee, Texas, Virginia, Washington, and Wisconsin.

Check out our comprehensive Lemonade home insurance review to learn more.

BEST BUSINESS COVERAGEThe Hartford

the hartford

Our top choice for business casualty insurance is The Hartford, which offers the ability to purchase up to $4 million in liability protection online with a range of coverage options.

Pros

  • Aggregate liability coverage up to $4 million
  • Online quotes offered
  • Policies can be purchased online or through an agent
Cons

  • Higher priced than many competitors
  • Below-average industry ratings

Founded in 1810, The Hartford has been providing a range of insurance coverage to millions of customers for over 200 years. They offer everything from auto, home, and umbrella coverage to small business insurance protection that can be purchased in minutes online. (Fun fact: one of The Hartford’s claims to fame is that Babe Ruth purchased a disability insurance policy from the carrier in 1920.)

For small business owners, The Hartford offers three categories of coverage: general liability, business property insurance, and business income protection. They also sell a BOP (business owner’s policy) that includes all three coverage types. General business liability protection is offered up to $2 million per occurrence and $4 million as the aggregate, and policies can be purchased online or through an agent.

Business casualty insurance from The Hartford can help owners protect their assets with coverage for professional liability, worker’s compensation, general liability, umbrella, auto, and credit/political risk. Policies are available in all states (except Hawaii) and the District of Columbia, though not all coverage types (and policy limits) are available in all states.

Though claims satisfaction ratings posted on The Hartford’s own website are high—4.8 out of 5 stars from more than 1,000 customers—the company was ranked in ninth place in the J.D. Power 2020 U.S. Small Commercial Insurance Study.7 Also, while The Hartford has an A+ rating from the Better Business Bureau, the carrier is not yet accredited.8

Bottom Line

Casualty insurance coverage is an important product to have, if you want to protect your financial assets and those of your family and/or business. With casualty coverage, you are shielded from certain lawsuits and losses, if you are held liable for someone else’s injuries or damages.

When buying casualty insurance, it’s important to not only shop around for the right type of policy, but also the one that will protect you best. If possible, you may also want to find a carrier that allows you to bundle multiple policies together for even greater savings and peace of mind.

Compare Providers

Our Top Category Company Notable Benefits and Features
Best Overall State Farm Wide variety of policy types offered, online resources and guides available, with top-rated consumer ratings
Best Value Allstate Offers a number of discount and bundle options with many coverage types to choose from
Best Auto Coverage GEICO Top-rated coverage available for drivers in all 50 states
Best Homeowners Coverage Amica Mutual Earns high customer service ratings, provides online quotes, and connects customers with a network of trusted contractors
Best Renters Coverage Lemonade Coverage can be purchased online in 90 seconds, premiums start at $5 a month, and claims are paid immediately
Best Business Coverage The Hartford Online quotes are offered, and up to $4 million in business liability coverage can be purchased in just minutes

Frequently Asked Questions

What Does Casualty Insurance Mean?

Casualty insurance is a type of coverage intended to cover consumers when they are deemed liable, or responsible, for certain expenses. Rather than having to cover the cost of property damage, or paying medical bills out of their own pocket, casualty insurance can step in to pay a portion (or all) of these expenses for policyholders.

This type of coverage is different than comprehensive or personal property insurance. Casualty insurance coverage is meant to cover expenses incurred by others, whether you’re in an at-fault accident, someone is injured in your home, or your business is sued for damages.

What Is Included in Casualty Insurance?

Casualty insurance protects consumers from damage, loss of others’ property, and related expenses for which they are found liable. Depending on the type of policy, this could include property and physical damages stemming from an at-fault car accident or personal injuries that occur on your property, just to name a few.

How Much Does Casualty Insurance Cost?

The cost of casualty insurance depends on the type of policy chosen (homeowners, auto, renters, motorcycle, etc.) as well as personal factors like your age, location, and coverage limits. While there is no golden standard for how much casualty insurance costs, consumers can purchase renters coverage for as low as $5 per month while the average auto casualty insurance premiums range from $763 to $1,444 per year, depending on the state.1

Your best bet is to shop around and get quotes from multiple, trusted carriers to see which will provide you with the best coverage at the lowest rates.

How We Chose the Best Casualty Insurance

In order to provide you with a reliable list of the best casualty insurance carriers, we looked at more than 20 insurance companies. We compared things such as the company’s operational history, product availability, financial strength ratings, the price of casualty insurance coverage, and consumer reviews over time. We also considered the ease with which you could obtain a quote, purchase coverage, and manage your policy.


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