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By: Ajay kumar Medagani October, 25, 2019

Homeowners in Irving, Texas, pay an average homeowner's insurance rate of $610, which is considerably lower than the national average of $1,228. Gavop analyzed data published by the National Association of Insurance Commissioners (NAIC) to identify the top 5 insurance firms providing multi-peril homeowners insurance in Irving. The top 5 insurance firms together own more than half the market share in the multi-policy homeowners insurance segment.

The following chart shows the market share in percentage held by the top 5 insurance firms in Irving.

State Farm

With 19.55% of the market share, State Farm is the largest provider of multi-peril homeowners insurance in Irving. Notably, State Farm has been awarded the highest possible rating of A++ by A.M. Best for the superior ability to meet their ongoing insurance obligations.

Everquote has also rated State Farm 4 out of 5 stars for customer satisfaction. About 52% of the firm’s customers say they would buy insurance from State Farm again and 40% believe they might continue to do so. Only 6% of customers state they won’t be purchasing insurance from State Farm again.

Allstate

Allstate has a market share of 13.08% in Texas and is the third-largest provider of multi-peril homeowners insurance in the state of Texas. A.M. Best has awarded Allstate a rating of A+ for their superior ability to meet their current insurance obligations.

In addition, Everquote rates Allstate 4 out 5 stars for overall customer satisfaction. Among Allstates’ customers, 64% will continue to buy insurance from Allstate and 26% might do so in the future. However, 10% say they won’t be buying insurance from Allstate again.

Farmers

Farmers insurance firm holds a 10.39% share of the multi-peril segment in the Texas insurance market. In 2018, A.M. Best gave Farmers a score of A for their superior ability to fulfill their current insurance obligations.

Everquote has awarded Farmers a score of 4 out of 5 stars for customer satisfaction.

USAA

USAA owns a market share of 9.70% in the multi-peril home insurance segment in Irving. A.M. Best has awarded USAA with the highest possible rating of A++ for their superior ability to meet ] ongoing insurance obligations.

About 70% of USAA’s customers say they will continue to buy insurance from the company, and 23% believe they might do so again. Only 7% of customers admit they will not return to USAA to fulfill their insurance needs.

Liberty Mutual

Liberty Mutual holds a market share of 7.37% in the multi-peril homeowners insurance segment in Irving. A.M. Best has given Liberty Mutual Group an A rating for their excellent ability to meet their ongoing insurance obligations.

In addition, Everquote has awarded Liberty Mutual a 4 out of 5 star rating for overall customer satisfaction. About 46% of customers who have previously bought insurance from Liberty Mutual say they would continue to do so. Moreover, 44% of customers might buy insurance from Liberty Mutual again, while 10% will not be buying insurance from Liberty Mutual again.

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