Insurance World Championships – How Fast Can Companies Get You Homeowner Insurance?

Previously, SafeButler compared how fast consumers can get renters insurance from the top ten insurance companies. Today, we did the same experiment for homeowner insurance. Before digging deep into the data, let’s see how they performed!

Here is what we learned. At over a minute long, Lemonade was the fastest, with Hippo and Geico following behind. Travelers was quick as well at a little over two minutes but required phone calls to ensure the qualification.

Unfortunately, Allstate did not provide an online homeowner insurance quote for the property so we timed five minutes for the phone quoting process, while Safeco and Travelers only provide online condo insurance quote so we timed that instead of homeowner insurance quote. Below is the summary of the time spent for a complete quote.

How many clicks and key presses?

The fewer user actions you need, the faster you can get covered. An important factor we evaluated was how many mouse clicks and inputs on text fields were performed in the quote process before the first premium was presented. As the chart below shows, the number of actions generally corresponds to the length of time it takes to get quotes. We excluded Allstate, Safeco, and Travelers due to their quote are for condo insurance.

Construction Material Questions…

Not everyone knows the differences of tens of construction types or roof materials. Most insurance companies, to save customers time, pull default home information from third parties to pre-fill question answers. This information includes data like “number of stories”, “square footage”, and “roof type.” etc.,

However, in the long-run, those property questions may not be included in the quoting process because those data are increasingly available from data providers. New players like Lemonade and Hippo condensed the number of questions to a single digit. Powered by data providers, there’s a good chance that a much simpler onboard experience will exist, giving customers even faster shopping experience.

Conclusion

Getting the best homeowner insurance fast is important. Fortunately for you, as our experiment shows, more and more carriers are making it easier to get you covered. While we found that Lemonade, Hippo, and Geico were the most efficient, we are certain that in time the others will likely catch up, giving consumers like you even faster and better options to choose from.