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Branch home insurance review Oct 2020

Last updated:  

Provides big savings for bundling policies, but lacks some standard discounts offered by other insurers

  • Get a quote if you’re interested in bundling your home and auto policies.
  • Pick something else if you’re looking for a policy that comes with more standard discounts.
  • Homeowners interested in leveraging community ties to lower insurance rates may find Branch to be a perfect fit.

AZ, IL, MO, OH, TX

Available states

24/7 claims

Online quotes

Details

Pros

  • A community focus to help lower costs
  • Branch has solid financial backing
  • Bundling is quick and easy and comes with a hefty discount

Cons

  • Only available in Arizona, Illinois, Missouri, Ohio and Texas.
  • Not as many discounts as its competitors
New home discount discount No
New homeowner discount No
Home safety features discount No
New policy discount No
Bundling discount Yes
No claims discount No
Other discounts Customer referrals
Personal property coverage Yes
Valuable personal property Yes
Theft coverage No
Fire coverage No
Flood coverage No
Identity theft coverage No
Homesharing Yes
Dwelling coverage Yes

Expert review

Heather Petty

Review by


Heather Petty is a writer at Finder specializing in banking, investments and insurance. She's a self-proclaimed word nerd who worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. Heather earned a bachelor’s degree in English from the University of Nevada, Reno.

Expert review

Branch home insurance is a great fit for anyone who wants to take advantage of the community-based discounts and bundle their home and auto policy. But if you’re not interested in inviting your friends to apply or vouching for other Branch clients in your area, bundling may be your only option to save money on your policy. To find home insurance with a wider selection of discount options, compare other home insurance what Branch has to offer.

What home insurance coverage does Branch offer?

Branch offers standard home insurance coverage:

  • Dwelling coverage. Covers the structure of your house and any permanent features.
  • Other structures. Covers all other structures on your property including fencing, sheds and pools.
  • Liability. Provides coverage for expenses for damage to property or injury to a third party when you are at fault.
  • Personal property. Covers the repair or replacement of your personal belongings.

Additional coverage options include:

  • Roof surfaces extended coverage. Extends your existing roof coverage to provide the replacement cost, if the damage to your roof is beyond repair.
  • Incremental coverage. Increases your standard dwelling coverage above the replacement cost to give you a cushion in case the cost to rebuild is higher than expected.
  • Water backup. Covers damage due to indoor water flooding from plumbing issues and sump pump backups.
  • Homeshare coverage. Provides coverage if you rent out your home as a vacation rental or as part of a homeshare service.
  • Valuable property. Provides the option to buy additional coverage for yard and garden, musical instruments, sports equipment or silverware.
  • Scheduled personal property coverage. Allows you to individually cover high-end items, such as furs, jewelry or fine art.
  • Personal umbrella coverage. Provides additional liability coverage.

What home insurance discounts can I get?

The central principle of Branch’s community focus is that it can save you money in these three ways:

  • Customer referrals. Instead of giant advertising campaigns, Branch relies on customer word of mouth to bring in new customers, and they reward you for it. In Arizona and Missouri, for every friend you invite who signs up for Branch insurance, you get a 1% discount. So, if you invite ten friends, you get 10% off your bill.
  • Vouch for each other. To reduce the amount of money spent on insurance fraud, Branch asks customers within a community to vouch for each other, and gives a 1% discount per person who vouches for you. Get up to 5% off your premium if you can get five Branch customers to say that you won’t commit insurance fraud.
  • Bundle and save. Branch designed home and auto policies to be bundled, which means you don’t have to take any extra steps to bundle your policy. And Branch claims that those who do, save an average of $517 annually.

Pros and cons of Branch

Pros

  • Easy quote system. Enter your name and address on the Branch home page, and Branch compiles publicly available data to complete your quote.
  • Financially stable. Branch is underwritten by General Security National Insurance Company (GSNIC), which has an A+ rating from AM Best, pointing to a strong financial backing.
  • Help your uninsured neighbors. A portion of every customer’s premium goes to the Safety Nest program, which allows those who have experienced a tragedy or accident while uninsured or underinsured to apply for financial help.

Cons

  • Limited availability. While Branch has plans to extend its service to the entire US, it currently only operates in Arizona, Illinois, Missouri, Ohio and Texas.
  • Limited discount options. If you’re not interested in advertising Branch’s policies to your friends or vouching for other Branch customers in your community, your only option to save is by bundling your policies.
  • Not an insurance company. Branch is technically an insurance agency, selling insurance for GSNIC and backed by SCOR reinsurance. While that gives Branch a large financial banking, reinsurance sometimes leads to more expensive policies.

How to apply for Branch home insurance

Branch compiles the publicly available data about you and your home after you enter your name and address, so that you don’t have to enter all the details yourself.

  1. From the home page of the Branch website, enter your name and address and click See Price.
  2. Branch aggregates your information from several databases. If they are having trouble finding information about your vehicle, they may ask for information such as your birthday or your car’s VIN number.
  3. Choose from the three plans provided. Either click Select to accept the plan as-is or click Customize this Plan to change the details for an updated price. From here, you can also click the Edit link to check that the details about your home are correct.
  4. Answer a few questions about preferences and add-on coverage and enter your payment details. And when you’re ready to purchase the plan, click Buy Now.

What info do I need to apply for home insurance with Branch?

Only your name and address are required to get a quote. But you should also have ready the types and amount of coverage you need. If you want to add coverage for jewelry or other high-value items, you’ll need to have appraisals of the value of each piece ready to make sure you’re not underinsuring your items.

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