14 Large U.S. Insurers Closed Nearly Half of Homeowner Claims with No Payment in 2024

PALM BEACH GARDENS, Fla., June 11, 2025 — Weiss Ratings, the nation’s only independent rating agency covering the insurance industry, revealed today that 14 large U.S. property insurers closed 40% to 51% of homeowner claims with no payment whatsoever in 2024.

Weiss Ratings founder, Dr. Martin D. Weiss, commented: “Adding insult to injury for homeowners already suffering from spreading climate disasters and economic headwinds, many insurers appear to be using denials as a strategy to cut back on claims payments."

Large Insurers Closing 40%-51% of Homeowner Claims with No Payment in 2024

Data source: Companies' 2024 annual statement, schedule P.3A, columns 11 and 12, row 11. Includes insurers with at least 50,000 claims received and closed in 2024 and with $1 million in homeowners premiums, representing at least 30% of their business.

Just five large property insurers topping the list accounted for almost half of all nationwide homeowner claims closed without payment in 2024, and the five are affiliated with just two companies — Allstate domiciled in Illinois and USAA in Texas.

Allstate Vehicle & Property closed 50.9% of its 630,930 homeowner claims with no payment.

Allstate Insurance Company closed 49.8% of 952,222 claims with no payment.

United Service Automobile Association (USAA) closed 49.5% of 547,782 claims with no payment.

USAA Casualty Insurance closed 48.7% of 425,965 claims, and USAA General Indemnity also closed 48.7% of its 272,617 claims — all with no payment whatsoever.

Other insurers with high denial rates that processed over 100,000 homeowner claims in 2024 include American Bankers Insurance Company of Florida, Homesite Insurance Company of the Midwest, State Farm Lloyds, and Farmers Insurance Exchange.

Overall, the 14 insurers processed 3.75 million homeowner claims in 2024, closing 48% with no payment.

Even if one includes all U.S. homeowner insurers, the picture is not pretty: Among the 6.8 million claims received and closed nationwide, 42% were closed without payment, up from 39% in 2023 and just 25.7% in 2004.

“In recent years,” Weiss added, “nearly all policyholders had the ability to sue for satisfaction. But now, as tort reform is enacted or proposed in state after state, it’s often becoming easier for insurers to deny claims with impunity.”

A consumer’s best defense is to check each company’s history of denials before buying or renewing home insurance, and with this table, Weiss Ratings is the nation’s only organization that makes the needed data readily available to the public.

About Weiss Ratings: Weiss rates 53,000 institutions and investments, including safety ratings on insurers, banks and credit unions as well as investment ratings on stocks, ETFs, mutual funds and cryptocurrencies. Since its founding in 1971, Weiss Ratings has never accepted any form of payment from rated entities for its ratings. All Weiss insurance company ratings are available at https://weissratings.com/en/insurance.

The U.S. Government Accountability Office (GAO) reported that the Weiss ratings of U.S. life and health insurers outperformed those of A.M. Best by 3-to-1 in warning of future financial difficulties, while also greatly outperforming those of Moody's and Standard & Poor's. The New York Times reported that Weiss “was the first to warn of the dangers and say so unambiguously.” Barron's called Weiss Ratings “the leader in identifying vulnerable companies.”