How to Choose the Right Insurance Provider in 2026
By Itai Varochik | Updated February 18, 2026 | 3 min read
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1. types of insurance you need
Before comparing providers, understand which coverage types are essential for your situation:
- Health insurance: Employer plans, marketplace plans, or direct purchase
- Auto insurance: Required in most states, coverage levels vary
- Homeowner/renter insurance: Protects property and liability
- Life insurance: Term (affordable, temporary) vs. whole (permanent, expensive)
- Disability insurance: Often overlooked but critical for income protection
2. financial strength ratings
An insurance policy is only as good as the company's ability to pay claims. Check ratings from AM Best, S&P, and Moody's. State Farm, GEICO, Progressive, and USAA consistently receive top financial strength ratings.
4. claims experience
Filing a claim is when your insurance choice matters most. Evaluate:
- Average claims processing time
- Customer satisfaction scores (J.D. Power)
- Mobile app claims filing capability
- Complaint ratios from state insurance departments
Lemonade processes simple claims in minutes via AI. USAA consistently tops customer satisfaction. Traditional insurers like State Farm offer agent-assisted claims.
5. digital experience
Modern insurers offer fully digital experiences. Lemonade pioneered AI-first insurance with instant quotes and claims. Root uses driving behavior for auto pricing. Traditional carriers like Progressive and GEICO have invested heavily in mobile apps.
6. bundling & discounts
Most providers offer discounts for bundling multiple policies:
- State Farm: Up to 25% multi-policy discount
- Progressive: Bundle home, auto, and umbrella
- GEICO: Multi-vehicle and multi-policy discounts
- Lemonade: Bundle renters, pet, and life insurance
Frequently Asked Questions
Is Lemonade a legitimate insurance company?
Yes. Lemonade is a licensed insurance carrier (not a broker) backed by major reinsurers. It's publicly traded and regulated by state insurance departments.
How much auto insurance do I need?
Most experts recommend at least 100/300/100 liability coverage. State minimums are typically insufficient for serious accidents.
Term or whole life insurance?
Term life is the right choice for most people. It's 5-15x cheaper than whole life and covers you during your highest-need years (raising children, paying a mortgage).