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<?xml version="1.0" encoding="UTF-8"?><rss version="2.0" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:wfw="http://wellformedweb.org/CommentAPI/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:sy="http://purl.org/rss/1.0/modules/syndication/" xmlns:slash="http://purl.org/rss/1.0/modules/slash/" xmlns:media="http://search.yahoo.com/mrss/" > <channel> <title>Money.com</title> <atom:link href="https://money.com/money/feed/" rel="self" type="application/rss+xml" /> <link>https://content.money.com/money/feed/</link> <description>Money.com</description> <lastBuildDate>Tue, 01 Jul 2025 20:54:12 +0000</lastBuildDate> <language>en-US</language> <sy:updatePeriod> hourly </sy:updatePeriod> <sy:updateFrequency> 1 </sy:updateFrequency> <generator>https://wordpress.org/?v=6.7.2</generator><site xmlns="com-wordpress:feed-additions:1">180424325</site> <item> <title>Best Student Loan Refinance Companies of July 2025</title> <link>https://money.com/best-student-loan-refinance/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Tue, 01 Jul 2025 20:32:56 +0000</pubDate> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5986896</guid> <description><![CDATA[Looking to refinance your student loan? Check out Money's top picks for student loan refinance companies. ]]></description> <content:encoded><![CDATA[<p><a href="https://secure.money.com/pr/u2084947a058?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-student-loan-refinance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-student-loan-refinance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=u2084947a058&type=image" /></a></p><p>Refinancing your student loans can help some borrowers pay off their debt quicker and save money in the long run. And it may be a good time to pursue the strategy: After the Federal Reserve started <a href="https://money.com/september-fed-rate-cut-effects/" target="_blank" rel="noopener">cutting its benchmark interest rate</a> last year, student loan refinance rates gradually ticked down, though they are still not as low as they were a few years ago.</p><h2>What to know about student loan refinance</h2><ul><li>When you refinance, you replace your existing student loan(s) with a new loan that has either a lower interest rate, a lower monthly payment or, ideally, both.</li><li>When you refinance federal loans, you turn them into private loans and you lose access to exclusive benefits and repayment terms. Although there is a lot of uncertainty regarding federal student loans and possible changes to repayment plans, borrowers with only federal debt should not make any knee-jerk decisions to refinance.</li><li>See industry insights and a comprehensive <a href="#guide">guide on when to refinance student loans here</a>.</li></ul><h2>How we picked our winners</h2><p>Our edit team has been covering student loans (and student loan refinance) for the better part of a decade. Our writers and editors independently analyzed and vetted student loan refinance products, focusing on eligibility, perks, interest rates and fees, to determine which lenders stand out. (See our methodology <a href="#methodology">here</a>.)</p><p>If you’re looking for more information on in-school loans to pay for college, see our picks for <a href="https://money.com/student-loans/" target="_blank" rel="noopener">best student loans</a>.</p><h2>Our top picks for the best student loan refinance companies of July 2025</h2><p><em>The following companies are listed in alphabetical order.</em></p><ul><li><a href="#earnest">Earnest</a> – Best Overall</li><li><a href="#Elfi" target="_blank" rel="noopener">ELFI</a> – Best for Parents</li><li><a href="#laurel">Laurel Road</a> – Best for Healthcare and Medical professionals</li><li><a href="#lendkey">Lendkey</a> – Best for Offers from Community Banks and Credit Unions</li><li><a href="#sofi">SoFi</a>® – Best for Member Perks</li><li><a href="#risla">RISLA</a> – Best for Borrower Protections</li></ul><p><a href="https://secure.money.com/pr/u9d87a0d2688?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-student-loan-refinance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-student-loan-refinance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=u9d87a0d2688&type=image" /></a></p><p><a href="https://secure.money.com/pr/jb39eb8c1bf6?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-student-loan-refinance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-student-loan-refinance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=jb39eb8c1bf6&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Customizable payments</li><li>Ability to set up autopay for biweekly payments</li><li>Offers in-school refinancing for students in their final semester</li></ul><h3>Cons</h3><ul><li>No cosigner releases</li><li>Limited product availability in some states</li></ul><hr><div><div id="embed-code-description"><hr><h3>HIGHLIGHTS</h3><dl><dt>Minimum income requirements</dt><dd>Does not disclose</dd></dl><dl><dt>Minimum credit score</dt><dd>Minimum credit score of 665 (without a cosigner). Cosigners need a minimum credit score of 650.</dd></dl><dl><dt>Loan amount</dt><dd>$5,000 up to $500,000</dd></dl><dl><dt>Loan terms</dt><dd>Customizable between 5 and 20 years</dd></dl><dl><dt>Fees</dt><dd>No origination or application fees. No late fees</dd></dl><dl><dt>Fixed interest rate</dt><dd>4.35% - 10.49% APR (includes 0.25% autopay discount)</dd></dl><hr></div><div></div><div><a href="https://secure.money.com/pr/u06c5930254e?ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-student-loan-refinance%2F" target="_blank" rel="noopener">Earnest</a> is our top overall pick thanks in large part to its Precision Pricing tool, which is unique among lenders. Earnest allows borrowers to pick the monthly payment that fits their budget, and sets the repayment term based on that amount — even if it results in an uncommon number like 7.5 years. The result is more than 180 ways to customize your loan, the lender says. The repayment flexibilities don’t stop there, either. Earnest also allows borrowers to skip one payment every 12 months.</div></div><div></div><div>Earnest doesn’t charge late fees and consistently offers low starting interest rates. In addition to the standard salary and credit score, Earnest considers additional details like how much you have in savings to help determine your eligibility. And it is transparent about what it offers for borrowers struggling to make their payments: You can make interest-only payments for up to 24 months over the life of the loan or request a financial hardship forbearance for up to 12 months.</div><p><a href="https://money.com/earnest-student-loan-refinance-review/">Read full Earnest student loan refinance review>></a></p><hr /><p><a href="https://secure.money.com/pr/s3129241fd3f?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-student-loan-refinance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-student-loan-refinance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=s3129241fd3f&type=image" /></a></p><hr><h3>HIGHLIGHTS</h3><dl><dt>Minimum income</dt><dd>$35,000</dd></dl><dl><dt>Minimum credit score</dt><dd>680</dd></dl><dl><dt>Loan amounts</dt><dd>Minimum of $10,000. Maximum varies based eligibility. </dd></dl><dl><dt>Loan terms</dt><dd>5, 7, 10, 12, 15 or 20 years for students. 5 or 10 years for parents.</dd></dl><dl><dt>Fees</dt><dd>No application or origination fees. Late fee of up to $50. </dd></dl><dl><dt>Fixed interest rate</dt><dd>4.88% to 8.44%</dd></dl><hr><hr><h3>Pros</h3><ul><li>Allows parents to transfer PLUS loans to student's name.</li><li>Excellent customer service</li></ul><h3>Cons</h3><ul><li>No rate discounts</li><li>No cosigner release</li><li>Fewer repayment term options for parent refinance loans</li></ul><hr><p>Most lenders allow parents to refinance federal parent PLUS loans, but many require parents to stay on as the primary borrower. <a href="https://secure.money.com/pr/ed56cddff69e">ELFI</a> doesn’t; parents can refinance a PLUS loan in their name or refinance as a way to transfer the loan to their student (assuming the student meets the lender’s credit eligibility). ELFI only offers two repayment terms for parents (compared to five for student borrowers who are refinancing), but we still chose them for parents as other lenders also limit the number of terms available to for parent refinance loans. ELFI’s starting APR is slightly higher than some winners on our list, but it also has a lower maximum interest rate than most lenders.</p><p>ELFI sets up all customers with a one-on-one session with a student loan advisor, and with more than 2,200 reviews, the company has a 4.9 rating (out of 5 stars) on Trustpilot — the highest of any lender Money looked at.</p><hr /><p><a href="https://secure.money.com/pr/xb3993b7d227?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-student-loan-refinance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-student-loan-refinance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=xb3993b7d227&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Low payments through the medical residency refinancing program</li><li>Lower rates for eligible healthcare professionals</li><li>Loan terms as long as 20 years</li></ul><h3>Cons</h3><ul><li>Limited options for those with associate degrees</li><li>Lowest rates require you to sign up for a bank account</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Minimum income</dt><dd>Does not disclose</dd></dl><dl><dt>Minimum credit score</dt><dd>Does not disclose</dd></dl><dl><dt>Loan amount</dt><dd>$5,000 to total balance ($50,000 maximum for associate degrees)</dd></dl><dl><dt>Loan terms</dt><dd>5, 7, 10, 15 or 20 years</dd></dl><dl><dt>Fees</dt><dd>No origination or application fees. Late payment fees of up to $28.</dd></dl><dl><dt>Fixed interest rate</dt><dd>4.99% - 8.90% (with autopay discount)</dd></dl><hr><p><em>Rates current as of June 30, 2025, rates subject to change. Terms and Conditions apply. All products are subject to credit approval. Please see all Laurel Road disclaimers <a href="https://www.laurelroad.com/partnerships/consumersadvocate/#disclaimers." target="_blank" rel="noopener">here</a>.</em></p><p><a href="https://secure.money.com/pr/u5942b93c5ce" target="_blank" rel="noopener">Laurel Road</a> is an online lender specializing in student loan refinancing for healthcare professions, including doctors, dentists, physical therapists and nurses. It partners with several professional organizations to offer rate discounts to these (and other) healthcare professionals. Plus, it has a program for individuals participating in a medical residency program that allows you to refinance your loans and pay just $100 per month for up to four years during your residency or fellowship. Many lenders don’t offer any refinancing for associate degrees. Laurel Road does, though degrees from only about a dozen health-related fields are eligible. Laurel Road also allows students to take over their parents’ PLUS loans via refinancing.</p><p><a href="https://money.com/laurel-road-student-loan-refinance-review/" target="_blank" rel="noopener">See full Laurel Road student loan refinance review>></a></p><hr /><p><a href="https://secure.money.com/pr/z4d611b3d1e9?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-student-loan-refinance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-student-loan-refinance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=z4d611b3d1e9&type=image" /></a></p><hr><h3>Pros</h3><ul><li>LendKey services all loans </li><li>Associate degrees are eligible to refinance </li><li>Partners with hundreds of banks and credit unions</li></ul><h3>Cons</h3><ul><li>Does not refinance parent PLUS loans </li><li>No ability to choose a specific lender</li><li>Some credit unions may require you to become a member before borrowing</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Minimum income</dt><dd>Does not disclose</dd></dl><dl><dt>Minimum credit score</dt><dd>Does not disclose</dd></dl><dl><dt>Loan amounts</dt><dd>$5,000 - $125,000 (undergraduate debt) or $250,000 (graduate debt) </dd></dl><dl><dt>Loan terms</dt><dd>5, 7, 10, 15 or 20 years</dd></dl><dl><dt>Fees</dt><dd>No application or origination fees. Late fees depend on individual lenders</dd></dl><dl><dt>Fixed interest rate</dt><dd>4.54% - 9.09% APR (with autopay)</dd></dl><hr><p><a href="https://secure.money.com/pr/l13138f972e2">LendKey</a> is a platform that connects you with a network of smaller banks and credit unions. LendKey isn’t a direct lender, but we chose to include it in our list as it can help you quickly expand your search for a solid refinance offer and it offers access to a group of lenders many borrowers wouldn’t find on their own. Plus, while a separate financial institution finances the loan (and determines eligibility), LendKey services the loan, so borrowers deal directly with the company through repayment.</p><p>LendKey has a quick, easy online application and competitive interest rates. But you will have to use the check rates tool (it’s a soft inquiry, so it won’t hurt your credit) to see which of LendKey’s partners you’re eligible for — and even then, LendKey simply presents you with the available terms and interest rates. You cannot browse offers from various lenders.</p><hr /><p><a href="https://secure.money.com/pr/f4d7f97bba5d?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-student-loan-refinance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-student-loan-refinance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=f4d7f97bba5d&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Income-based payment option</li><li>Forbearance for financial hardships</li><li>In-school refinancing available</li></ul><h3>Cons</h3><ul><li>Only offers fixed-rate loans</li><li>Maximum loan term is 15 years</li><li>No cosigner release</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Minimum income requirements</dt><dd>$40,000</dd></dl><dl><dt>Minimum credit score</dt><dd>Not disclosed</dd></dl><dl><dt>Loan amount</dt><dd>$7,500 to $250,000</dd></dl><dl><dt>Loan terms</dt><dd>5, 10 or 15 years</dd></dl><dl><dt>Fees</dt><dd>None </dd></dl><dl><dt>Fixed interest rate</dt><dd>3.99% - 8.29% APR </dd></dl><hr><p><a href="https://secure.money.com/pr/lf7621042243" target="_blank" rel="noopener">RISLA</a> stands out from other lenders because of its borrower protection programs, including an income-based repayment option. Under this program, monthly payments will never exceed 15% of the borrower and cosigner’s discretionary income. And if there is still a loan balance after 25 years on the repayment plan, RISLA will forgive the remainder. There’s also an economic hardship forbearance to help borrowers experiencing financial hardship, unemployment or disability manage their debt.</p><hr /><p><a href="https://secure.money.com/pr/wf5357ff56d7?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-student-loan-refinance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-student-loan-refinance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=wf5357ff56d7&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Members get rate discounts and perks like financial coaching</li><li>Available for associate degrees</li><li>Special payment plans for medical residency</li></ul><h3>Cons</h3><ul><li>Bar exam loans for lawyers and medical residency loans aren't eligible for refinancing</li><li>Does not allow cosigner releases</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Minimum income requirements</dt><dd>Does not disclose</dd></dl><dl><dt>Minimum credit score</dt><dd>650</dd></dl><dl><dt>Loan amount</dt><dd>$5,000 up to total balance</dd></dl><dl><dt>Loan terms</dt><dd>5, 7, 10, 15 or 20 years</dd></dl><dl><dt>Fees</dt><dd>No application or late fees</dd></dl><dl><dt>Fixed interest rate</dt><dd>4.49% - 9.99% APR with all discounts</dd></dl><hr><p><a href="https://secure.money.com/pr/rdc0a878d74c" target="_blank" rel="noopener">SoFi</a>® was the first company to offer refinancing for federal and private students back in 2012, and it remains a top lender in the space today. It stands out for its variety of membership perks. Anyone with a SoFi product (banking and investment services, personal loans, mortgage loans, credit and student loans) gets access to financial coaching, estate planning, discounts, networking events and more.</p><p>SoFi’s SmartStart loan option allows borrowers to ease into repayment on their refinanced loan, with nine months of lower payments before full principal and interest payments are due.</p><p><a href="https://money.com/sofi-student-loan-refinance-review/" target="_blank" rel="noopener">Read full SoFi student loan refinance review>></a></p><p><a href="https://secure.money.com/pr/u89cb207af31?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-student-loan-refinance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-student-loan-refinance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=u89cb207af31&type=image" /></a></p><h3>Other Companies We Considered</h3><p>The companies reviewed below offer competitive student loan refinance interest rates and loan terms that may suit many borrowers. Readers will find short reviews that outline each lender’s pros and cons, as well as a highlights table listing loan terms and eligibility requirements. Finally, we explain why the company didn’t make it into our top picks.</p><h4><a href="https://secure.money.com/pr/e873aa3007ec" target="_blank" rel="noopener">MPower Financing</a></h4><p>MPower Financing is a great options for borrowers who are not U.S. citizens or permanent residents, as the public benefit corporation that specializes in financing higher education for international students. MPOWER will allow borrowers to refinance loans originated in several countries, including Australia, Austria, Brazil, the Dominican Republic, Germany, India, Kenya, Mexico, Nigeria, Philippines, South Korea, Switzerland, Spain, the U.K. and the U.S.</p><p><a href="https://money.com/mpower-financing-student-loan-refinance-review/" target="_blank" rel="noopener">Read full MPower student loan refinance review>></a></p><h4><a href="https://secure.money.com/pr/t5d209eb6157" target="_blank" rel="noopener">Citizens Bank</a></h4><p>Citizens Bank has strict eligibility requirements. Borrowers need good to excellent credit to qualify, and the refinanced loan minimum is $10,000 — higher than other lenders require. Citizens Bank does have forbearance programs, but the lender says decisions are made on a case-by-case basis rather than having set requirements or durations.</p><p>For more information, check out our <a href="https://money.com/citizens-bank-student-loan-refinance-review/">full review of Citizens Bank’s refinancing options</a>.</p><h2>What to to know before refinancing your student debt</h2><p>Students and parents may be able to <a href="https://money.com/how-refinancing-student-loans-saves-money/">save money by refinancing</a>, especially during periods of low interest rates. But refinancing isn’t a smart move for every borrower, so before taking that step, consider the implications of refinancing and if the outcome will be beneficial to your particular financial situation. For example, federal borrowers may score a lower interest rate but lose financial protections that could be crucial down the road.</p><h3>How does refinancing student loans work?</h3><p>When you refinance your student loan you are replacing your current loan with a new loan and new terms from a private lender. Generally, borrowers refinance student loans to extend their repayment period (and therefore lower monthly payments), obtain a lower interest rate so they’ll pay less over the life of the loan or consolidate multiple student loans into one single payment. Some loan borrowers may find terms that achieve all three at once.</p><p>You can only refinance student loans through a private lender, not the federal government. Experts caution people with federal loans to think very carefully about their situation before refinancing, because they’ll be giving up federal benefits that come with government loans such as student loan forgiveness programs and income-driven repayment plans. If your student loan is from a private lender, there’s little downside to looking for better terms. You can refinance private student loans with your current lender or choose a different lender.</p><h4>Student loan refinancing vs. Student loan consolidation</h4><p>One of the benefits of refinancing through a private student loan lender is that borrowers can consolidate multiple loans into one and have a single monthly payment under one servicer. But this benefit is not limited to private lenders. Students with eligible federal loans can consolidate their debt with a <a href="https://studentaid.gov/manage-loans/consolidation" target="_blank" rel="noopener">Direct Consolidation Loan</a>, though there are pros and cons with that process as well.</p><h3>Should you refinance your student loans?</h3><p>Refinancing your debt — whether <a href="https://money.com/benefits-of-federal-student-loans-vs-private-student-loans/">federal or private student loans</a> — may save you money if you have high interest rates and a large monthly payment. However, it’s not always the best financial move, especially for borrowers with federal loans.</p><p>Refinancing a federal loan means converting it to a private lender. You’ll lose valuable benefits and protections, such as income-based loan repayment plans, Public Service Loan Forgiveness and interest subsidies. And, the process cannot be reversed. For many federal borrowers, enrolling in an income-driven repayment plan will be a better option, as those plans can reduce your monthly payment and offer loan forgiveness on any balance left over after a certain number of years.</p><p>If you have a private student loan, there’s no real downside to refinancing to get better terms. But you will need a good credit score and stable income (or a creditworthy cosigner) to qualify for refinancing. When weighing whether it makes sense for you, remember that lenders’ lowest rates are reserved for borrowers with the strongest credit.</p><h3>What to consider when refinancing a student loan</h3><p>Before refinancing your loans, consider the following:</p><h4>Federal student loans</h4><p>With federal student loans, refinancing can help you secure a lower interest rate and possibly reduce your monthly payment. But federal loan refinancing can be risky because your federal loans will be transferred to a private lender. As a result, you’ll no longer be eligible for borrower protections like federal income-driven repayment, Public Service Loan Forgiveness or Total and Permanent Disability Discharge.</p><h4>Private student loans</h4><p>When you refinance, the loans are switched to a new loan servicer. Private loan rates, policies and customer service varies by lender, so be careful about refinancing your loans.</p><h3>Steps to refinance your student loans</h3><p><a href="https://money.com/how-to-refinance-student-loans/">Refinancing student loans</a> can be an excellent way to save money or accelerate your repayment, and it’s easier to do than you may think:</p><h4>1. Check your credit</h4><p>Student loan refinance lenders generally require borrowers to have good to excellent credit, meaning a score of 670 or higher, and to get the best student loan refinancing rates, you’ll need an even better score. <a href="https://money.com/guide-to-credit-scores-and-student-loan-refinance/">Check your credit</a> to see where you stand. If your credit is less-than-perfect or you have a high debt-to-income ratio, you may not even qualify for a loan unless you add a cosigner to your application.</p><p>Not all refinancing companies offer cosigner releases, so review the lender’s loan terms to see if a cosigner release is possible.</p><h4>2. Consider the types of loans you have</h4><p>If you have a mix of federal and private loans, remember that you don’t have to refinance all of your debt. Although you can refinance private student loans and federal loans, you can opt to only refinance your private loans or your loans with the highest rates.</p><h4>3. Shop for the best rate</h4><p>Each lender has its own credit and income requirements, so you may qualify for better rates with some lenders over others. Shop around and request quotes from multiple companies to find the best deal. Many lenders have tools that allow you to view prequalified rates without affecting your credit score, and using a marketplace like <a href="https://secure.money.com/pr/uc684d8ec139">Credible</a> or <a href="https://secure.money.com/pr/u2440b075c05">Splash Financial</a> can help you get several quotes at once.</p><p>Rates range based on your credit and loan term; the lowest rates are usually for the shorter repayment periods, such as five or seven years.</p><h4>4. Research lender’s financial hardship relief options</h4><p>Not all refinancing lenders offer financial relief programs if you lose your job or become ill. And not all lenders will discharge your loans in cases of death or permanent disability. Carefully review the lender’s forbearance, deferment and forgiveness policies so you know under what circumstances the lender will pause or forgive your loans.</p><h4>5. Fill out your loan application</h4><p>Student loan refinancing companies allow you to apply online. You’ll need to provide your current loan statements, student loan account numbers and employment information. You’ll also need to consent to a hard credit inquiry.</p><h4>6. Sign your loan approval and start making monthly payments</h4><p>Once you’re approved, the lender will send you a loan agreement to review and sign. After that, the lender will work with your current loan servicers to pay off your student loans. Continue making your usual monthly payments until you receive confirmation that your loans have been paid in full; otherwise, you risk late payment fees and damage to your credit report.</p><h3>How to refinance student loans with bad credit</h3><p>If you have poor credit or no credit history, you will need a cosigner with a high credit score and steady source of income to qualify for a loan. (Most lenders require a minimum credit score around 650, but your cosigner will need a very good or excellent score to qualify for the best rates) Some lenders will allow you to apply for a cosigner release if you meet its requirements and make a specific number of payments on time, but not all lenders offer that option.</p><p>If you don’t have a cosigner to apply with, you’ll have to <a href="https://money.com/7-ways-to-improve-credit-score/">improve your credit</a> before applying to refinance.</p><h2>Latest student loan refinance news</h2><p>Interest in refinancing federal student loans plummeted during the Biden administration, as borrowers enjoyed a years-long break from monthly bills during the pandemic payment pause. Many borrowers were also waiting to see whether the former president would be able to follow through on his campaign <a href="https://money.com/student-loan-forgiveness-what-biden-accomplished/" target="_blank" rel="noopener">promise to cancel broad swaths of student loan debt</a>. As we all know, the administration’s big swing on debt cancellation was blocked by the Supreme Court and monthly payments, along with <a href="https://money.com/student-loan-on-ramp-ending/" target="_blank" rel="noopener">consequences for missing them</a>, are now back to normal.</p><p>The current administration, meanwhile, is looking at possible changes to Public Service Loan Forgiveness and income-driven repayment even as the Republican-led Congress moves forward with an <a href="https://money.com/trump-bill-change-student-loans/" target="_blank" rel="noopener">overhaul of the student loan system</a> that could limit the number of repayment plans borrowers have access to.</p><p>All that’s to say: There could be new interest in refinancing from millions of borrowers who were previously waiting to see how things would shake out on the federal side.</p><hr><h2>Best Student Loan Refinance Companies FAQ</h2><h3>What happens when you refinance student loans?</h3><p>When you refinance student loans, you are taking out a new loan, ideally one with better terms, to pay off your existing debt(s). With federal loans, you'll have to leave the federal loan program and take out a private loan to refinance your debt, while refinancing private loans usually means switching lenders. Most borrowers look for a lower interest rate when refinancing.</p><h3>How often can you refinance student loans? </h3><p>There is no limit to how often you can refinance your loans. Some borrowers may find that they can qualify for lower rates later as the economy changes and their credit scores improve, so it can make sense to shop around once a year to see what loan options are available. </p><h3>How to refinance student loans with bad credit? </h3><p>If you have poor credit or no credit history, you will need a cosigner with a high credit score and steady source of income to qualify for a loan. Some lenders will allow you to apply for a cosigner release if you meet its annual income requirements and make a specific number of payments on time, but not all lenders offer that option. </p><h3>Who has the best student loan refinance rates?</h3><p>As of June 2025, you can find some of the lowest student loan refinance annual percentage rates (APRs) through Earnest and RISLA, which offer fixed rate loans starting at 4%. However, other lenders may offer a lower rate for your specific situation, so it's always smart to shop around.</p><h3>Is refinancing student loans worth it? </h3><p>Whether refinancing student loan debt is worth it depends on the existing rates of your loans, your credit and how long you have left to repay your loan balance. There is no fee to refinance your loans, so if you can reduce the interest rate, it can be an easy way to save a substantial amount of money. However, borrowers with federal loans should not refinance if they need access to income-driven repayment or may want to pursue a forgiveness program, like PSLF or Teacher Loan Forgiveness.</p><hr><h2>Best student loan refinance methodology: How we picked our winners</h2><p>We evaluated lenders on more than 20 factors, focusing on eligibility, costs, loan terms and borrower protections. Here’s a breakdown:</p><h3>Variety of loans eligible</h3><p>In addition to the standard bachelor’s and graduate degree offerings, we prioritized refinance companies that accepted parent loans, debt from associate degrees and loans from students who are still enrolled.</p><h3>Flexible repayment options</h3><p>We compared the variety of repayment term lengths, favoring lenders with four or more term options. Since the length of your term influences your interest rate and monthly payment, multiple repayment options is critical to helping borrowers get the right fit. We also considered whether lenders offered cosigner releases and how long a borrower had to wait before applying.</p><h3>Competitive interest rates, low fees and reputation</h3><p>We focused lenders that balanced low starting rates for the most credit-worthy borrowers with still reasonable rates for borrowers with fair credit. In this case, we primarily looked for lenders with rates starting around 4% and maxing out below 10%, though we did make some exceptions. Most refinance companies do not charge origination or application fees, but we awarded extra points to lenders that also eliminated late or insufficient fund fees. Finally, we reviewed customer review sites including the Better Business Bureau and Trust Pilot to see which companies are known for good service.</p><p>We favored companies with flexible payback policies, such as cosigner release and financial hardship relief options for qualified applicants. We also looked for financial institutions that offered refinance loans without charging origination fees or late fees.</p><h3>Borrower protections</h3><p>One of the biggest downsides to refinancing federal student loans is that you lose access to extensive forbearance and deferment options, and so its critical for borrowers to research what their options would be should they struggle with payments in the future. These policies vary from lender to lender. We favored lenders with transparent forbearance policies on their websites and options to defer payments for up to a year, at a minimum.</p><h2>Summary of Money’s Best Student Loan Refinance Companies of July 2025</h2><ul><li><a href="#earnest">Earnest</a> – Best Overall</li><li><a href="#Elfi" target="_blank" rel="noopener">ELFI</a> – Best for Parents</li><li><a href="#laurel">Laurel Road</a> – Best for Healthcare and Medical professionals</li><li><a href="#lendkey">Lendkey</a> – Best for Offers from Community Banks and Credit Unions</li><li><a href="#sofi">SoFi</a>® – Best for Member Perks</li><li><a href="#risla">RISLA</a> – Best for Borrower Protections</li></ul>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5986896</post-id> <media:thumbnail url="https://img.money.com/2023/12/Best-Student-Loan-Refinance-mbci_qkcy3__87is3x.jpg?quality=85" /> <media:content url="https://img.money.com/2023/12/Best-Student-Loan-Refinance-mbci_qkcy3__87is3x.jpg?quality=85" medium="image"> <media:title type="html">Best-Student-Loan-Refinance</media:title> </media:content> </item> <item> <title>Best Private Student Loans of July 2025</title> <link>https://money.com/student-loans/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Tue, 01 Jul 2025 20:30:02 +0000</pubDate> <category><![CDATA[Best]]></category> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5986859</guid> <description><![CDATA[Learn more about the loan terms and rates available from private lenders.]]></description> <content:encoded><![CDATA[<p><span class="s1"><a href="https://secure.money.com/pr/gcb95025e980?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fstudent-loans%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fstudent-loans%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=gcb95025e980&type=image" /></a></span></p><p>Summer is crunch time for families paying fall tuition bills — especially for first-year students and their parents, who may be wading into the world of student loans for the first time.</p><p>As you compare options, remember that you should always max out undergraduate federal student loans — issued by the U.S. Department of Education — before turning to private student loans. Federal loans are more accessible, and they offer more flexible repayment terms and borrower protections. Then, a private student loan can help cover your school’s total cost of attendance after you’ve hit the federal borrowing limit and exhausted all other options.</p><h2>What to know about private student loans</h2><ul><li>Private student loans can fill in the funding gap left after federal, state and institutional financial aid. They can be used for tuition, housing, books and more.</li><li>Parents with strong credit may be able to qualify for better terms in the private market as compared to federal Parent Plus loans.</li><li>Private student loans are credit based, meaning not all students or parents may qualify.</li><li>Nearly 90% of undergraduate private student loans have a cosigner.</li></ul><h2>How we chose the best private student loan lenders</h2><p>To pick the best private student loan lenders, we focused on overall costs (including interest rates and any applicable fees), flexible repayment terms and unique perks or offerings that help a company stand out in a relatively uniform industry. (See our full <a href="#methodology" target="_blank" rel="noopener">methodology here</a>.)</p><p><span style="color: #000000"></span></p><h2>Our top picks for best student loans</h2><p><em>The following companies are listed in alphabetical order.</em></p><ul><li><a href="#abe">Abe</a> – Best for Borrower Protections</li><li><a href="#ascent">Ascent</a> – Best for Borrowers Without a Cosigner</li><li><a href="#college">College Ave</a> – Best for Parents</li><li><a href="#earnest">Earnest</a> – Best for Flexible Repayment</li><li><span style="font-weight: 400"><a href="#MPower">MPower Financing</a> – Best for International Students</span></li><li><a href="#sallie">Sallie Mae</a> – Best for Non-Degree Programs</li><li><a href="#sofi">SoFi®</a> – Best for Member Perks</li></ul><p><a href="https://secure.money.com/pr/ubb78d740ff8?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fstudent-loans%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fstudent-loans%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=ubb78d740ff8&type=image" /></a><br /><a href="https://secure.money.com/pr/y3e0097346f6?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fstudent-loans%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fstudent-loans%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=y3e0097346f6&type=image" /></a></p><hr><h3>Pros</h3><ul><li>In-school default protection</li><li>Grace period of up to 12 months</li><li>Several forbearance options</li><li>2% principal reduction after graduation</li></ul><h3>Cons</h3><ul><li>Lacks the history of more established lenders so customer reviews are limited</li><li>Lower lifetime borrowing maximums than other lenders</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Loan amounts</dt><dd>$1,000 up to total school-certified cost of attendance</dd></dl><dl><dt>Loan terms</dt><dd>5, 7, 10, 15 or 20 years</dd></dl><dl><dt>Fixed APR</dt><dd>3.23% - 15.61%</dd></dl><dl><dt>Minimum credit score</dt><dd>Not disclosed</dd></dl><dl><dt>Minimum income</dt><dd>Not disclosed</dd></dl><hr><p><a href="https://secure.money.com/pr/l081037f01dd?data-trk-company=abe-student-loans-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=l081037f01dd&encoded_id={{encoded_id}}">Abe</a>, which launched in the summer of 2024, is a new lender in the private student loan space. Like many lenders, Abe allows borrowers to choose whether they want to make in-school payments or defer payments until they graduate. But Abe stands out for its in-school default protection. If a borrower chooses to start repaying while enrolled and ends up falling behind, Abe will automatically switch them to the deferred payment program.</p><p>Abe has an option to extend its 6-month grace period up to a full year, and a shorter-than-normal 12-month period to apply for cosigner release. The company also offers some of the some of the most robust — and transparent — hardship protections of any lender. Borrowers can get 12 months of forbearance for a job loss or other financial hardship, natural disaster or illness.</p><p>Aside from the autopay rate discount, borrowers can reduce their interest rate by an additional 0.05% for every six months of on-time payments (for a maximum discount of 0.25%). Plus, borrowers can shave 2% off their principal after they graduate through Abe’s Grad Reward.</p><div class="form-group embed-group"><div id="embed-code-description" class="embed-code-description"><hr /><p><a href="https://secure.money.com/pr/ae39b592828b?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fstudent-loans%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fstudent-loans%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=ae39b592828b&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Loans without cosigners or credit histories available</li><li>Bigger than normal discounts for setting up automatic payments</li><li>1% Cash Back Graduation Reward</li></ul><h3>Cons</h3><ul><li>First- and second-year students not eligible for outcomes-based loans</li><li>Lower loan maximums than some lenders</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Loan amounts</dt><dd>$2,001 to $200,000 lifetime maximum for undergraduate loans, $400,000 lifetime maximum for graduate loans. </dd></dl><dl><dt>Loan terms</dt><dd>Five terms for credit-based loans (5, 7, 10, 12 and 15 years) and two terms (10 and 15 years) for outcomes-based loans</dd></dl><dl><dt>Fixed APR</dt><dd>3.09% - 15.61%</dd></dl><dl><dt>Minimum credit score</dt><dd>Not disclosed</dd></dl><dl><dt>Minimum income</dt><dd>$30,000</dd></dl><hr></div></div><p><a href="https://secure.money.com/pr/f983dc4ea2a6">Ascent</a> is the best option for borrowers without a cosigner due to its specialized non-cosigned loan options for undergraduate, graduate and DACA students. It offers two options for non-cosigned loans — a credit-based option for those who do have a borrowing history and an outcomes-based loan for those without. These are unique products, but you should know that both options have significantly higher APRs than cosigned loans offered by Ascent (and other lenders). Credit-based loans without a cosigner start at 8.29% for fixed-rate loans; outcomes-based loans start at 12.98%. Ascent does have a larger-than-normal discount for setting up autopay, with a 0.50% discount for all credit-based loans and a 1% discount for outcomes-based loans.</p><p>For borrowers with cosigners, Ascent offers competitive rates and a quicker 12-month period before you can apply for cosigner release. Other highlights include a 9-month grace period and loan products for career training and bootcamps.</p><div class="form-group embed-group"><div id="embed-code-description" class="embed-code-description"><p><a href="https://money.com/ascent-student-loans-review/">Read full Ascent student loans review>></a></p></div></div><hr /><p><a href="https://secure.money.com/pr/id9e93f4043c?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fstudent-loans%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fstudent-loans%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=id9e93f4043c&type=image" /></a> <b></b></p><hr><h3>Pros</h3><ul><li>Flexible repayment options for parents</li><li>Very competitive APRs for credit-worthy borrowers</li></ul><h3>Cons</h3><ul><li>Cosigner release only available after half the repayment term is completed</li><li>Late fee of up to $25 (several lenders have eliminated late fees)</li><li>Limited information about forbearance options or hardship protections online</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Loan amounts</dt><dd>$1,000 to total cost of attendance</dd></dl><dl><dt>Loan terms</dt><dd>5 to 15 years for most loans; up to 20 years for medical, dental and law school</dd></dl><dl><dt>Fixed APR</dt><dd>3.19% - 17.99%</dd></dl><dl><dt>Minimum credit score</dt><dd>Mid-600s</dd></dl><dl><dt>Minimum income</dt><dd>Not disclosed</dd></dl><hr><p>Like most lenders, <a href="https://secure.money.com/pr/u0611441c5b4?ap_referrer=https%3A%2F%2Fmoney.com%2Fstudent-loans%2F">College Ave Student Loans</a> offers a suite of undergraduate and graduate loans. But it also offers parent loans that have a customizable repayment term. Parents can choose a term anywhere between 5 and 15 years, which allows you to pick a term that best fits your budget. For borrowers with excellent credit and strong financial histories, College Ave may be a solid choice. The lender regularly offers some of the lowest starting APRs in the industry. But if you have fair credit, you may find better deals elsewhere. College Ave’s maximum APR is among the highest on the market.</p><p><a href="https://money.com/college-ave-student-loans-review/" target="_blank" rel="noopener">Read full College Ave student loan review>></a></p><hr /><p><a href="https://secure.money.com/pr/lcda393b0f73?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fstudent-loans%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fstudent-loans%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=lcda393b0f73&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Longer-than-normal grace period</li><li>Skip-a-payment program </li><li>Rate match guarantee</li></ul><h3>Cons</h3><ul><li>No cosigner release</li><li>Student must pursue a bachelor's or graduate degree</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Loan amounts</dt><dd>$1,000 to total school-certified cost of attendance</dd></dl><dl><dt>Loan terms</dt><dd>5, 7, 10 or 15 years</dd></dl><dl><dt>Fixed APR</dt><dd>3.24% - 16.49%</dd></dl><dl><dt>Minimum credit score</dt><dd>650</dd></dl><dl><dt>Minimum income</dt><dd>$35,000</dd></dl><hr><p><a href="https://secure.money.com/pr/s65fa334b7a7">Earnest</a> offers four in-school repayment options, four terms for all of its loans, and a longer-than-usual grace period. It has a unique skip-a-payment benefit, where borrowers have the option to skip one monthly payment a year without penalty, and it also boasts a rate match guarantee. Earnest doesn’t charge any fees, and among the lenders we reviewed, it had the highest customer review rating on TrustPilot, with a 4.6 (out of 5 stars) based on more than 7,000 borrower reviews.</p><p><a href="https://money.com/earnest-student-loans-review/" target="_blank" rel="noopener">Read full Earnest student Loans review>></a></p><hr /><p><a href="https://secure.money.com/pr/f79ecc1634d8?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fstudent-loans%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fstudent-loans%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=f79ecc1634d8&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Offers career training, medical residency and bar exam loans</li><li>Cosigner release available after just 12 monthly payments</li></ul><h3>Cons</h3><ul><li>Limited repayment terms </li><li>Late fee of up to $25 (other lenders have eliminated this) </li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Loan amounts</dt><dd>$1,000 to total school-certified cost of attendance</dd></dl><dl><dt>Loan terms</dt><dd>10 or 15 years</dd></dl><dl><dt>Fixed APR</dt><dd>3.19% - 16.99%</dd></dl><dl><dt>Minimum credit score</dt><dd>Not disclosed</dd></dl><dl><dt>Minimum income</dt><dd>Not disclosed</dd></dl><hr><p>Like other lenders, <a href="https://secure.money.com/pr/ud44de29d401?ap_referrer=https%3A%2F%2Fmoney.com%2Fstudent-loans%2F">Sallie Mae</a> has education loan options for undergraduate, graduate, professional and medical school programs. But it’s also one of the few lenders that has options for students enrolled in trade or certificate programs. Within the professional programs, it offers loans designed specifically to help borrowers navigate periods where they’re not earning much, like during medical residency periods or when studying for the bar exam. Another unique feature: Borrowers who are enrolled in college less than half-time are still eligible to apply. (Many lenders are open to part-time students, but still require at least half-time enrollment.)</p><p>Most top lenders today offer at least three or four different terms for repayment; Sallie Mae only offers two for undergraduate loans and one for graduate school loans. But it does allow borrowers to sign up for a graduated repayment period, where they can make interest-only payments for up to a year after the grace period ends.</p><p><a href="https://money.com/sallie-mae-student-loans-review/" target="_blank" rel="noopener">Read full Sallie Mae student loan review>></a></p><hr /><p><a href="https://secure.money.com/pr/j1b903cb45b1?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fstudent-loans%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fstudent-loans%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=j1b903cb45b1&type=image" /></a></p><div class="v-group panel panel-default"><div class="panel-body"><div class="v-row"><div class="form-group embed-group"><div id="embed-code-description" class="embed-code-description"><hr><h3>Pros</h3><ul><li>No late or insufficient fund fees</li><li>Multiple rate discounts available </li><li>Extra member benefits</li></ul><h3>Cons</h3><ul><li>Not available for associate degree programs</li><li>Must make 24 months of payments before applying for cosigner release</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Loan amounts</dt><dd>$1,000 to total school-certified cost of attendance</dd></dl><dl><dt>Loan terms</dt><dd>5-year, 7-year, 10-year, and 15-year terms</dd></dl><dl><dt>Fixed APR</dt><dd>3.29% - 15.99%</dd></dl><dl><dt>Minimum credit score</dt><dd>Not disclosed</dd></dl><dl><dt>Minimum income</dt><dd>Not disclosed </dd></dl><hr><p>For those looking for a private student loan without added fees, <a href="https://secure.money.com/pr/x4a831e1465e?ap_referrer=https%3A%2F%2Fmoney.com%2Fstudent-loans%2F">SoFi</a><span class="s1">® </span>is the top lender. Like most student loan lenders, it doesn’t charge origination fees. But SoFi also doesn’t charge any late fees. In addition to the standard discount for setting up automatic payments, existing borrowers can earn a returning scholar discount. It also offers a cash bonus for borrowers with Good Grades. And students and parents who borrow through SoFi have access to exclusive member benefits like financial coaching and estate planning, plus a rewards program where you can earn and redeem points for activities like checking your credit score and redeem them against your loan.</p><p>SoFi’s cosigner release policy — requiring 24 months of on-time payments before applying — is better than some lenders, but there are several lenders that offer shorter periods.</p><p><a href="https://money.com/sofi-student-loans-review/">Read full SoFi student loans review>></a></p></div></div><div class="form-group embed-group"><div id="embed-code-description" class="embed-code-description"><div id="embed-code-description" class="embed-code-description"><hr /><p class="p1"><a href="https://secure.money.com/pr/u058e7b0e10d?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fstudent-loans%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fstudent-loans%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=u058e7b0e10d&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Loans available to international students without a cosigner</li><li>Interest-only payments while in school</li></ul><h3>Cons</h3><ul><li>Higher-than-average rates and fees</li><li>Only one repayment option</li><li>Must attend a partner school</li><li>Not available to first- or second-year undergraduate students</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Loan amounts</dt><dd>$2,001 to $100,000</dd></dl><dl><dt>Loan terms</dt><dd>10 years</dd></dl><dl><dt>Fixed APR</dt><dd>11.16%</dd></dl><dl><dt>Minimum credit score</dt><dd>Not required</dd></dl><dl><dt>Minimum income</dt><dd>Not disclosed</dd></dl><hr><p>Although some private student loan lenders will issue loans to international students, they typically require the student to have a cosigner that is a U.S. citizen or permanent resident. If the student doesn’t have close friends or family in the country, it can be difficult to find loans for school.</p><p><a href="https://secure.money.com/pr/m17504a76cd0">MPower</a> is one of the only lenders that offers private student loans to international students without a cosigner or collateral. The lender helps offers visa prep courses and a job search tool for international students, and repaying these loans helps international students build a credit-history in the U.S. MPower works with 500 schools in the U.S. and Canada.</p><p><span class="s1"><a href="https://secure.money.com/pr/u47fd3e39540?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fstudent-loans%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fstudent-loans%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=u47fd3e39540&type=image" /></a></span></p><p><span style="color: #000000"></span></p><h2>What you need to know about student loans</h2><p>Student loans are issued by the federal government or private lenders to help students pay for undergraduate or graduate studies. The loan goes toward tuition, books, student housing and other education-related expenses.</p><p>Once a student loan application is approved, the funds are sent directly to the school to cover tuition, fees and on-campus student housing. Any remaining balance is then disbursed to the student.</p><p>All private loans accrue interest from when the loan is dispersed, while some federal loans don’t start accruing interest until you enter repayment. For private loans, inc-school repayment options usually include deferment, interest-only, or full payment, and repayment terms typically range from five to 20 years.</p><h3>Federal vs. private student loans</h3><p>Since private loans don’t offer the same protections that federal loans do, the general advice is to seek private student loans after you’ve exhausted every federal option.</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col width="26%" /><col width="26%" /><col width="26%" /></colgroup><thead><tr><th></th><th><p><strong>Federal loans</strong></p></th><th><p><strong>Private loans</strong></p></th></tr></thead><tbody><tr><td align="center"><p><strong>Credit Check</strong></p></td><td align="center"><p>Not required for most loans</p></td><td align="center"><p>Required</p></td></tr><tr><td align="center"><p><strong>Minimum income required</strong></p></td><td align="center"><p>Not required</p></td><td align="center"><p>Required</p></td></tr><tr><td align="center"><p><strong>Annual borrowing limits</strong></p></td><td align="center"><p>Borrowing limits apply to most loans</p></td><td align="center"><p>Typically no annual limit</p></td></tr><tr><td align="center"><p><strong>Payments while in schools</strong></p></td><td align="center"><p>Payments deferred until student leaves school</p></td><td align="center"><p>Payments may be required</p></td></tr><tr><td align="center"><p><strong>Eligible for loan forgiveness</strong></p></td><td align="center"><p>Yes</p></td><td align="center"><p>No</p></td></tr></tbody></table><hr><h4>Federal student loans</h4><p><a href="https://money.com/benefits-of-federal-student-loans-vs-private-student-loans/" target="_blank" rel="noopener">Federal student loans</a> are the first choice for many due to their low rates, flexible repayment options and federal protections.</p><p>To apply for federal loans and additional financial aid, students must submit the Free Application for Federal Student Aid (FAFSA) once every school year. Your school will calculate how much you’re eligible to borrow based on the cost of attendance and your family’s financial information.</p><p>The federal government limits how much a student can borrow annually and over their lifetime based on the academic year, loan type and the borrowers’ dependency status.</p><hr><h3>Pros</h3><ul><li>Income-driven loan repayment plan options</li><li>Opportunities for student loan forgiveness</li><li>Low interest rates</li><li>Eligible for forbearance if experiencing a financial hardship</li><li>No credit checks for most loans</li></ul><h3>Cons</h3><ul><li>Disbursement fees apply</li><li>Federal loans aren't subject to statutes of limitations</li><li>Only available to U.S. citizens and permanent residents with Social Security numbers</li><li>Strict annual and aggregate limits</li></ul><hr><h4>Private student loans</h4><p>Private student loans are similar to personal loans, as they are issued by private banks or credit unions.</p><p>Private student loan lenders look at students’ <a href="https://money.com/what-is-a-credit-score/">credit scores</a> and <a href="https://money.com/what-is-a-credit-report/">credit reports</a> to determine interest rates and loan approval. Since most students don’t have enough credit history, lenders often require a qualifying cosigner.</p><p>Private loans don’t feature the same benefits as federal student loans, but they can help pay your school’s total cost of attendance if you’re no longer eligible for federal aid.</p><p>Most private lenders suggest borrowers start loan repayment while still in school, but most offer in-school deferment or grace periods, although interest will continue to accrue.</p><hr><h3>Pros</h3><ul><li>Available to U.S. citizens and qualifying international students</li><li>No financial need requirements</li><li>Fixed and variable rates</li><li>Higher loan limits for undergraduate loans</li></ul><h3>Cons</h3><ul><li>Not eligible for federal forgiveness programs</li><li>Limited repayment options and hardship assistance programs</li><li>Requires credit check</li><li>May have higher APRs</li><li>Will likely require a cosigner</li></ul><hr><h3>Student loan interest rates</h3><p>Current <a href="https://money.com/student-loan-interest-rates/">private student loan interest rates</a> range from about 3% to 17.99%. The interest rate on your loans depends on the type of loans you have, your education level and the lender issuing the loan.</p><p>Rates can be fixed or variable. Fixed interest rates stay the same for the entire repayment period. By contrast, variable interest rates can change over time, so they are usually best for borrowers who want a shorter repayment term.</p><h4>Average student loan interest rate</h4><p><strong>Federal student loans</strong></p><p><a href="https://money.com/federal-student-loan-interest-rates-2025/" target="_blank" rel="noopener">Interest rates on federal student loans</a> are established by federal law. The rates are fixed, so they stay the same for the duration of your loan term.</p><p>For federal student loans, we calculated the average interest rate using the rates for the current academic year. The overall average interest rate for federal student loans is 7.76%.</p><p>The rates you’ll pay depend on the loan and borrower type. These are the rates for loans issued for the 2025-2026 academic year</p><ul><li><strong>Undergraduate:</strong> 6.39%</li><li><strong>Graduate:</strong> 7.94% for Direct Unsubsidized | 8.94% for Grad PLUS</li><li><strong>Parent:</strong> 8.94%</li></ul><div id="embed-code-description" class="embed-code-description"><p><strong>Private student loans</strong></p><p>Private student loans work differently. Lenders set their rate range based on an index, such as the Secured Overnight Financing Rate (SOFR). The rates can change over time as the market fluctuates, so you may find that current rates are higher or lower than when you took out your loan.</p><p>Other factors affect your private loan rates, including your credit history, income, debt-to-income ratio and whether you have a cosigner.</p><h3>How to apply for student loans</h3><p>The following are general tips to consider before applying for student loans, whether federal or private.</p><h4>Calculate your financial needs</h4><p>Consider your school’s cost of attendance (tuition, materials, room and board, etc.) and then factor in additional living expenses. Money’s <a href="https://money.com/best-colleges/">Best Colleges in America</a> contains information about admission, costs, financial aid and graduation rates of hundreds of public and private institutions around the United States.</p><p>We recommend you consider federal loans first, as they have several advantages over private loans and a variety of options to choose from.</p><h4>Shop around for private loans</h4><p>If you need to take out a private student loan, keep in mind that each lender offers different terms, rates and benefits. They also have different underwriting models, so you may qualify for a lower rate with one lender even if they have a higher starting APR than competitors. That’s why you need to shop around and compare fees and APRs from multiple lenders before making a decision. A good place to start is a marketplace like <a href="https://secure.money.com/pr/uaf4245fdd38">Credible</a> or <a href="https://secure.money.com/pr/gac6346a3f96">LendKey</a>, where you can review rates from several lenders at once.</p><p><em>Tip: Most federal student loans are available without a credit check, so they’re a good option for those with poor credit or no credit history. </em></p><h4>Choose the right lender for you</h4><p>To choose the best student loan, you should have a clear understanding of what each lender requires and what they offer regarding interest rates and repayment options:</p><ul><li><strong>Check your lender’s credentials:</strong> Only do business with reputable lenders. To determine this, use reputable sources like Federal Deposit Insurance Corporation (FDIC), Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB).</li></ul><ul><li><strong>Apply for prequalification:</strong> By prequalifying, you get to see what rates, terms and benefits each lender offers, while avoiding a hard credit inquiry. Be sure to understand how different interest rates and terms affect your payments.</li></ul><ul><li><strong>Look for lenders with in-school repayment options:</strong> Starting loan repayment early will reduce the debt burden. Opt for private lenders with multiple options, a grace period, and no penalties for early loan repayment.</li></ul><ul><li><strong>Opt for lenders with low or no fees:</strong> Application and origination fees are processing costs added to your principal, which means you’ll pay interest on them. All federal loans have origination fees; private loans typically do not. Note that student loan companies are legally prohibited from charging prepayment penalties. If you can, look for lenders that don’t charge late fees either.</li><li><strong>Take advantage of discounts and perks:</strong> Many lenders offer autopay discounts and other perks such as free study or tutoring programs and bonuses for good grades or referring friends.</li></ul><h2>Latest student loan news</h2><p>President Donald Trump’s “Big, Beautiful Bill” is awaiting a final vote in the Senate, as lawmakers rush to pass a final budget bill ahead of the president’s July 4 deadline. As written now, the bill would bring <a href="https://money.com/trump-bill-change-student-loans/" target="_blank" rel="noopener">sweeping changes to federal student loans</a>, which, in turn, would affect the private student loan market. In particular, the current version of the bill reduces how much parents can borrow via federal Parent PLUS loans and also creates new borrowing limits for graduate students — both of those could result in a surge in a private borrowing.</p><hr><h2>Best student loans FAQs</h2><h3>What is the interest rate on student loans?</h3><p>The rate depends on the type of loans you have. For federal loans, the following fixed rates apply: Federal Direct Subsidized and Unsubsidized (for undergraduate students): 6.39%; Federal Direct Unsubsidized (for graduate students): 7.94% and PLUS Loans (for graduate students and parent borrowers): 8.94%. </p><p>With private loans, the rates can be fixed or variable. Fixed rates currently range from about around 3.5% to 16%. </p><h3>Do you need a cosigner for student loans? </h3><p>Most federal loans are available without a cosigner, even if you don't have good credit. For private student loans, students will usually need a cosigner with good credit -- such as a parent or relative -- to qualify for a loan. </p><h3>Can you get student loans with bad credit? </h3><p>If you have bad credit, federal loans are an excellent starting point. Most loans are available without credit checks, and the federal government doesn't require a minimum credit score. </p><p>With private loans, qualifying for a loan may be more challenging. If you have poor credit, you'll likely need a creditworthy co-signer to apply for a loan. </p><h3>What is the best private student loan lender?</h3><p>There is no singular best lender for all borrowers. The best lender for you will depend on your (or your co-signer's) credit history and current finances, what type of degree-program you're pursuing and how much you value different perks. </p><hr><p><span style="color: #000000"></span></p><h2>Best student loans methodology: How we picked our winners</h2><p>We reviewed 14 private student loan lenders, evaluating them on more than 20 factors. We prioritized private lenders that offered the following:</p><h3>Flexible repayment options</h3><p>Federal student loans have several different standardized payment plan models, whereas private lenders often offer less flexibility. We looked for lenders that offered multiple in-school payment options. We compared the variety of repayment term lengths, favoring lenders with four or more term options, as the length of your term influences your interest rate and monthly payment, we believe that more options for a more customizable loan is valuable. We also considered whether lenders offered cosigner releases and how long a borrower had to wait before applying.</p><h3>Competitive interest rates and low fees</h3><p>We preferred lenders that balanced low starting rates for the most credit-worthy borrowers with still reasonable rates for borrowers with fair credit. In this case, we primarily looked for lenders with rates starting at or below 4% and maxing out around 15%, though we did make some exceptions.</p><p>Private student loan lenders rarely charge origination or application fees. But some do charge late fees or insufficient fund fees. We gave points to lenders that waived these.</p><h3>Unique perks, discounts or specialized products</h3><p>Lenders often specialize in products for specific programs or populations of students, or they offer unique perks and discounts. These helped us identify stand-out lenders that offered something beyond competitive rates and repayment terms.</p><h3>Borrower protections</h3><p>As an industry, private student loans lack the consumer protections offered via federal loans, so its critical for borrowers to understand their options to reduce or pause payments should they run into problems paying. Forbearance policies vary from lender to lender, and it can sometimes be hard to find clear information about them when shopping around. We favored lenders with transparent policies on their websites and options to defer payments for up to a year, at a minimum.</p><h2>Summary of Money’s Best Student Loans of July 2025</h2><ul><li><a href="#abe">Abe</a> – Best for Borrower Protections</li><li><a href="#ascent">Ascent</a> – Best for Borrowers Without a Cosigner</li><li><a href="#college">College Ave</a> – Best for Parents</li><li><a href="#earnest">Earnest</a> – Best for Flexible Repayment</li><li><span style="font-weight: 400"><a href="#MPower">MPower Financing</a> – Best for International Students</span></li><li><a href="#sallie">Sallie Mae</a> – Best for Non-Degree Programs</li><li><a href="#sofi">SoFi®</a> – Best for Member Perks</li></ul></div></div></div></div></div></div></div>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5986859</post-id> <media:thumbnail url="https://img.money.com/2025/05/Best-Student-Loans-25-mbci_12iy3__gjns8x.jpg?quality=85" /> <media:content url="https://img.money.com/2025/05/Best-Student-Loans-25-mbci_12iy3__gjns8x.jpg?quality=85" medium="image"> <media:title type="html">Best-Student-Loans</media:title> </media:content> </item> <item> <title>We Asked AI Which Stocks to Buy in July. Here’s What It Said</title> <link>https://money.com/ai-picks-stocks-this-month/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Tue, 01 Jul 2025 19:01:50 +0000</pubDate> <category><![CDATA[News]]></category> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5986762</guid> <description><![CDATA[It's evident that the S&P 500's financials sector is of particular interest to AI.]]></description> <content:encoded><![CDATA[<p>AI use cases now run the gamut. From early cancer detection and companionship to helping frustrated readers <a href="https://www.theverge.com/circuitbreaker/2018/8/8/17665268/wheres-waldo-finding-robot-google-cloud-automl-ai">find Waldo</a>, there seems to be an implementation for every aspect of life. That’s true for money management, too.</p><p>While the efficacy of <a href="https://money.com/i-let-ai-pick-my-stocks/">AI stock-picking</a> remains a subject of debate, there is no denying that the technology’s applications in personal finance and investing are increasingly popular. Dozens of apps and websites offer AI stock advice, and even more aim to help users improve their financial skills.</p><p>Accordingly, Money decided to tap into those platforms to see which stocks — and the sectors in which they operate — are being recommended by AI right now. Going one step further, we conducted our own research to determine whether any trends or notable takeaways could be gleaned from those suggestions (and then theoretically applied to retail investors’ portfolios).</p><p>Here are some stocks that AI says are good buys for the month of July.</p><p><a href="https://secure.money.com/pr/kaca5eee7c9d?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fai-picks-stocks-this-month%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fai-picks-stocks-this-month%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=kaca5eee7c9d&type=image" /></a><!-- notionvc: cb9d3df6-1226-4b03-b143-2194c70729af --></p><h2>AI is bullish on the financials sector</h2><p>After running multiple scanners and queries, it’s evident that the S&P 500’s financials sector is of particular interest to AI.</p><p>Thus far in 2025, financials have posted a gain of 8.36% — fourth best among the S&P 500’s 11 sectors. Financials only trail technology (8.91%), communication services (12.11%) and industrials (11.96%) in year-to-date gains, and their index-beating performance is <a href="https://money.com/stock-market-predictions-for-2025/">something Money highlighted</a> as a likely outcome in the wake of President Donald Trump’s election given his anti-regulatory platform.</p><p>In the lead-up to Election Day, Trump received more contributions from the securities and investments industry — which includes hedge funds, investment banks, brokerage firms and <a href="https://money.com/mortgage-rates/">mortgage lenders</a> — than former Vice President Kamala Harris. While on the campaign trail, Trump pledged to further deregulate the financial industry, promising lower taxes, regulations and interest rates, all of which have outsized impacts on companies operating in the financial services space.</p><p>Fast-forward to July, and some of those promises could become a reality if the so-called “<a href="https://money.com/trump-tax-cuts-big-beautiful-bill/">big, beautiful” bill</a>, which seeks to extend the corporate tax cuts from Trump’s first administration, is signed into law.</p><p>If the Federal Reserve cuts its benchmark interest rate this summer — as is expected according to the CME Group’s <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">FedWatch Tool</a> — the result will be an additional boon for financials. The industry will likely see an increase in loan origination and debt refinancing as reduced borrowing costs for businesses and lower rates attract inflows. While the FedWatch Tool pins the likelihood of a rate cut in July at just 19.1%, it projects a 93.2% chance of a cut during the Fed’s September meeting.</p><h2>Stocks that could outperform in July, according to AI — and why</h2><p>AI unsurprisingly recommended a handful of companies operating in the financials sector. Danelfin, an AI-powered stock-picking platform that generates a proprietary “AI Score” for each equity it rates, put four U.S.-based banking companies in its list of top five stocks for July (the sole exception being a Brazilian banking company).</p><p>Among those picks are JPMorgan Chase & Co. (JPM), Wells Fargo & Co. (WFC), US Bancorp (USB) and SouthState Corporation (SSB). Of those four, analysts at the <em>Wall Street Journal</em> <a href="https://www.wsj.com/market-data/quotes/SSB/research-ratings?gaa_at=eafs&gaa_n=ASWzDAjnYPTizcuWcLVfaq1rVoL7zNf8gQ_7y2FplHoKYMo7w4NVLvjasIgFX6iR5QQ%3D&gaa_ts=68643278&gaa_sig=D18kDEHoQbOE93Ju7tfa8ELxVpAkZh08nU_xgKn_B8w5sbPEjF8mmsdJuh46ZUmJsPl-D5sUokRAWfIIaXxCFA%3D%3D">assign</a> SouthState Corporation a 12-month price target that carries the highest potential upside percentage at nearly 24% from where shares of SSB are currently trading. <a href="https://www.wsj.com/market-data/quotes/USB/research-ratings?gaa_at=eafs&gaa_n=ASWzDAh4fun-h10UAcHqH8vJWyFSljLjTE9NPKm6UFr0QoPCoa9mSSYl_X4j4_F5WV8%3D&gaa_ts=686432ad&gaa_sig=Wrc3YkipG0TLn9IyEFGbmWvr0mGTFuYLoEiRXnaqDIO_OmAJMEV3OO_yiJfGmycEwypoGs9WR7ZDGDacIs-JOg%3D%3D">US Bancorp</a> was second, with potential upside of more than 10% over the next 12 months.</p><p>Other AI platforms backed the financials thesis.</p><p>Gemini stated that “t<span class="citation-11 citation-end-11">he Federal Reserve recently indicated that banks are financially strong enough to survive a downturn, which could bode well for financial stocks,” and ChatGPT added that it likes <span class="relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out">Goldman Sachs (GS) after the investment bank’s stock reached its third consecutive record closing price on June 30, resulting in a year-to-date gain of more than 23%.</span> ChatGPT cited how “t<span class="relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out">his rise follows favorable results from the Federal Reserve’s annual stress tests, confirming the resilience of the banking sector.</span> <span class="relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out">Analysts believe Goldman is poised for significant capital returns.</span>“</span></p><p>Of course, any stocks recommended by AI — or <a href="https://money.com/stock-tips-from-social-media-study/">your friends on social media</a>, for that matter — should be taken with a grain of salt. Always conduct your own due diligence and understand what aligns best with your portfolio.</p><p>However, if you are looking for guidance into which sectors or companies may have bullish momentum, these AI stock picks might help point you in that direction.</p><p><a href="https://secure.money.com/pr/kaca5eee7c9d?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fai-picks-stocks-this-month%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fai-picks-stocks-this-month%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=kaca5eee7c9d&type=image" /></a><!-- notionvc: cb9d3df6-1226-4b03-b143-2194c70729af --></p><h2>More from Money:</h2><p class="headline heading-content"><a href="https://money.com/i-let-ai-pick-my-stocks/">I Let AI and My 5-Year-Old Pick My Stocks. Who Did Better?</a></p><p class="headline heading-content"><a href="https://money.com/south-florida-wealth-conference-investing-advice/">What Financial Advisors Are Telling America’s Richest People to Do With Their Money</a></p><p class="headline heading-content"><a href="https://money.com/what-stocks-hedge-funds-bought/">Follow the Money? Here Are the Stocks Hedge Funds Bought and Sold in the First Quarter</a></p><p><a href="https://secure.money.com/pr/v42ab7f4acf9?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fai-picks-stocks-this-month%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fai-picks-stocks-this-month%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=v42ab7f4acf9&type=image" /></a><!-- notionvc: cb9d3df6-1226-4b03-b143-2194c70729af --></p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5986762</post-id> <media:thumbnail url="https://img.money.com/2025/06/News-AI-Approved-Stocks-July.jpg?quality=85" /> <media:content url="https://img.money.com/2025/06/News-AI-Approved-Stocks-July.jpg?quality=85" medium="image"> <media:title type="html">News-AI-Approved-Stocks-July</media:title> </media:content> </item> <item> <title>6 Best RV Insurance Companies of July 2025</title> <link>https://money.com/best-rv-insurance/?xid=moneyrss</link> <dc:creator><![CDATA[ and ]]></dc:creator> <pubDate>Tue, 01 Jul 2025 18:45:56 +0000</pubDate> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5985758</guid> <description><![CDATA[We review the best RV insurers: Auto-Owners (Best for Customer Satisfaction), Nationwide (Best Discounts) and Progressive (Best Overall).]]></description> <content:encoded><![CDATA[<hr /><p><a href="https://secure.money.com/pr/q13ba7b67ef0?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-rv-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-rv-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=q13ba7b67ef0&type=image" /></a></p><h2>What to know about RV insurance</h2><ul><li>RV insurance is essential for both full-time RV living and occasional trips.</li><li>Premiums vary based on your driving record, RV model and location, and may change annually.</li><li>Much like car insurance, it pays to shop around and get new quotes once your policy is up for renewal.</li><li>Our top picks include Progressive, Auto-Owners Insurance and National General.</li></ul><h2>How we chose our top picks</h2><div><p>Money’s editorial team has evaluated RV insurance providers since 2016. Our research and analysis consider customer satisfaction, financial stability, coverage options, and availability, among other factors. We reviewed 15+ companies, conducted over 1,000 hours of research on coverage, available discounts and customer satisfaction from third parties and regulatory agencies.</p><p>Read the <a href="#methodology">full methodology</a> to learn more.</p></div><h2>Our top picks for the best RV insurance companies</h2><ul><li><a href="https://money.com/best-rv-insurance/#progressive">Progressive</a> – Best Overall</li><li><a href="https://money.com/best-rv-insurance/#auto-owners">Auto-Owners Insurance</a> – Best for Customer Satisfaction</li><li><a href="https://money.com/best-rv-insurance/#nationwide">Nationwide</a> – Best for Discounts</li><li><a href="https://money.com/best-rv-insurance/#national-general">National General</a> – Best for Specialized Coverages</li><li><a href="https://money.com/best-rv-insurance/#good-sam">Good Sam</a> – Best for Comparing Multiple Providers</li><li><a href="https://money.com/best-rv-insurance/#roamly">Roamly</a> – Best for Renting Out Your RV</li></ul><p><a href="https://secure.money.com/pr/ud9feb6df46f?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-rv-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-rv-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=ud9feb6df46f&type=image" /></a></p><p><a href="https://secure.money.com/pr/jad5e7b27887?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-rv-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-rv-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=jad5e7b27887&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Disappearing deductibles</li><li>Accident forgiveness for claims under $500</li><li>Add-ons available for pet injury and roof damage</li><li>Often recommended by users in popular RV insurance forums</li></ul><h3>Cons</h3><ul><li>Rates differ based on whether you buy online or through an agent</li><li>Discounts aren't available in all states</li><li>Middling customer satisfaction ratings from J.D. Power and Crash Network</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>A.M. Best Rating</dt><dd>A+ (Superior)</dd></dl><dl><dt>Crash Network Insurer Report Card</dt><dd>C</dd></dl><dl><dt>J.D. Power U.S. Auto Claims Satisfaction Study</dt><dd>Below average (672/1,000)</dd></dl><dl><dt>NAIC Complaint Index</dt><dd>Better than most (0.61)</dd></dl><dl><dt>Discounts</dt><dd>Multi-vehicle, original owner, pay-in-full, responsible driver, prompt payment, disappearing deductibles and more</dd></dl><dl><dt>Bundles</dt><dd>Auto, renters, homeowners, motorcycle or boat insurance bundle</dd></dl><hr><p><strong>Why we chose it:</strong> Progressive is our best RV insurer overall for its competitive catalogue of RV insurance products as well as its available discounts, which offer plenty of opportunities to save money, including the rare combination of disappearing deductibles and accident forgiveness.</p><p>While it costs extra, Progressive’s diminishing deductible benefit allows you to reduce your deductible by 25% every time you renew your policy without filing a claim or getting a traffic violation. After several claims-free periods, RV owners can get their deductibles down to zero. The benefit is automatically included at no cost when you purchase comprehensive and collision coverage for vehicles valued at $25,000 or more. Accident forgiveness for a claim of $500 or less is also included at no cost — this means your premium won’t increase if you file a claim of $500 or less for your first “at fault” accident.</p><hr /><p><a href="https://secure.money.com/pr/f70382e54be6?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-rv-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-rv-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=f70382e54be6&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Low NAIC complaint index</li><li>High J.D Power Customer Satisfaction rating in 10 states</li><li>B grade on Crash Network's Insurer Report Card</li></ul><h3>Cons</h3><ul><li>You can only get a quote by contacting a local agent</li><li>Only available in 26 states</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>A.M. Best rating</dt><dd>A++ (Superior)</dd></dl><dl><dt>Crash Network Insurer Report Card</dt><dd>B</dd></dl><dl><dt>J.D. Power U.S. Auto Claims Satisfaction Study</dt><dd>Below average (692/1,000)</dd></dl><dl><dt>NAIC Complaint Index</dt><dd>Better than most (0.46)</dd></dl><dl><dt>Discounts</dt><dd>Payment history, paid-in-full, paperless billing, advance quote, safety features, driver safety program, mature drivers and favorable loss history</dd></dl><hr><p><strong>Why we chose it:</strong> <a href="https://money.com/pr/uc6a42441939?amp%3Bdata-trk-pcu-type=direct_link&%3Bdata-trk-pcu-uuid=uc6a42441939&%3Bap_referrer=https%253A%252F%252Fmoney.com%252Fbest-rv-insurance%252F">Auto-Owners Insurance</a> has an impressive customer service record. The insurer has fewer complaints with the National Association of Insurance Commissioners (NAIC) than most of its competitors.</p><p>Auto-Owners Insurance is also one of the few insurers with a B grade in Crash Network’s 2024 Insurer Report Card. For this survey, repair shops nationwide evaluate whether insurers prioritize quality repairs and good customer service for motorists. Most major insurers in the U.S. got a grade of C+ or less.</p><hr /><p><a href="https://secure.money.com/pr/v6b3d6d443b8?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-rv-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-rv-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=v6b3d6d443b8&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Vast array of discounts for easy bundling and savings</li><li>Add-ons include coverage for glass windshield replacement</li><li>Optional towing coverage includes lodging, transportation and meals</li></ul><h3>Cons</h3><ul><li>C grade on Crash Network's Insurer Report Card</li><li>No online quotes available</li><li>Nationwide's website may not list all the available discounts</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>A.M. Best rating</dt><dd>A (Excellent)</dd></dl><dl><dt>Crash Network Insurer Report Card</dt><dd>B</dd></dl><dl><dt>J.D. Power U.S. Auto Claims Satisfaction Study</dt><dd>Above average (728/1,000)</dd></dl><dl><dt>NAIC Complaint Index</dt><dd>Better than most (0.70)</dd></dl><dl><dt>Discounts</dt><dd>RV safety course, RV association, paid-in-full, good driver, continuous coverage and more</dd></dl><hr><p><strong>Why we chose it:</strong> Most RV insurers offer discounts, but <a href="https://money.com/pr/u89ef2dc2ade?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-rv-insurance%252F">Nationwide’s</a> list is notably extensive. The insurer offers over 10 different discounts including discounts for staying claims-free and installing safety devices, like smoke detectors.</p><p>Beyond standard home, car and life insurance bundles, Nationwide offers unique opportunities to save money. You can get a premium discount for taking safety courses, joining an RV organization like the National RV Association and paying your annual policy upfront. Nationwide will also reduce your premium if you’ve insured your RV with another provider and maintained continuous coverage. Note that not all discounts are listed on Nationwide’s website, and some only come up during the quoting process.</p><hr /><p><a href="https://secure.money.com/pr/i59a0f99f6ad?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-rv-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-rv-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=i59a0f99f6ad&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Over 15 coverage options designed for every type of RV owner</li><li>Option to suspend collision and liability coverage when your RV is in storage</li><li>Full replacement cost coverage includes expert service to help you find a new RV</li><li>Quotes available online and by phone</li></ul><h3>Cons</h3><ul><li>Not as many discount options as competitors</li><li>Limited information about policies on its website</li><li>D+ rating on Crash Network's 2024 Insurer Report Card</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>A.M. Best rating</dt><dd>A (Excellent)</dd></dl><dl><dt>Crash Network Insurer Report Card</dt><dd>D+</dd></dl><dl><dt>J.D. Power U.S. Auto Claims Satisfaction Study</dt><dd>Below average (672/1,000)</dd></dl><dl><dt>NAIC Complaint Index</dt><dd>Worse than most (3.45)</dd></dl><dl><dt>Discounts</dt><dd>Diminishing deductible, storage savings and low mileage discount</dd></dl><hr><p><strong>Why we chose it:</strong> <a href="https://money.com/pr/o94079ef7a32?ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-rv-insurance%2F&apxa2=pushnami&%3Bapxa3=20210112&%3Bapxa1=%2Fbest-rv-insurance%2F&%3Bca_referer=money.com%2Fbest-rv-insurance%2F%3Apushnami%3A20210112%3ANational+General&%3Bapxp1=National+General&%3Bapnavid=ef5b5f3b3b6d27e9b98163ea3602486a">National General</a> offers a generous purchase price guarantee during the vehicle model’s first nine years on the market. Other insurers don’t offer this if the vehicle is more than five years old. This optional benefit reimburses the customer up to the original cost of the vehicle if it’s stolen or totaled. RVs are also eligible for full replacement cost coverage during their first five model years, regardless of ownership (some companies limit this benefit to original owners).</p><hr /><p><a href="https://secure.money.com/pr/qf5d25870b19?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-rv-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-rv-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=qf5d25870b19&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Partners with insurers that reduce your premium while the RV is in storage</li><li>Discounts on campsites, gear stores, fuel and more</li><li>Online quotes available</li></ul><h3>Cons</h3><ul><li>Limited information on customer satisfaction</li><li>Not a direct insurer -- offers insurance by Progressive, Foremost, Safeco and National General</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>A.M. Best rating</dt><dd>Varies per insurer</dd></dl><dl><dt>Crash Network Insurer Report Card</dt><dd>Varies per insurer</dd></dl><dl><dt>J.D. Power U.S. Auto Claims Satisfaction Study</dt><dd>Vary by provider</dd></dl><dl><dt>NAIC Complaint Index</dt><dd>Varies per insurer</dd></dl><dl><dt>Discounts</dt><dd>Varies per insurer</dd></dl><hr><p><strong>Why we chose it:</strong> <a href="https://money.com/pr/n48296d58c4a?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-rv-insurance%252F">Good Sam Insurance Agency</a> a great option for people who want to compare policies from multiple providers on a single platform and with the help of licensed agents who can match you to the right company.</p><p>Good Sam is an independent agency that partners with well-known insurers like Progressive, Foremost, Safeco and National General — all of which offer RV insurance policies that can suit the needs of most RV owners, whether they just use the vehicle for seasonal travel or intend to live in it. The company also collaborates with MexicoInsuranceOnline.com to connect clients to Mexico-based insurers that offer add-ons for cross-border travel, whether for single-day trips or extended stays.</p><hr /><p><a href="https://secure.money.com/pr/d588fbfadda5?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-rv-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-rv-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=d588fbfadda5&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Coverage continues if you rent out your RV</li><li>Offers motorcycle and boat coverage</li><li>Available in all 50 states and some provinces of Canada</li></ul><h3>Cons</h3><ul><li>Though Roamly offers boat and motorcycle insurance, there's no bundling discount</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>A.M. Best rating</dt><dd>Underwriters have a rating of A- or higher</dd></dl><dl><dt>Discounts</dt><dd>Military discount</dd></dl><dl><dt>Crash Network Insurer Report Card</dt><dd>Varies per underwriting insurer</dd></dl><dl><dt>J.D. Power U.S. Auto Claims Satisfaction Study</dt><dd>Varies per underwriting insurer</dd></dl><dl><dt>NAIC Complaint Index</dt><dd>Varies per underwriting insurer</dd></dl><dl><dt>Discounts</dt><dd>Varies per underwriting insurer</dd></dl><hr><p><strong>Why we chose it:</strong> Most insurers decline to insure you and may even drop your coverage if you rent the vehicle to someone else. With <a href="https://money.com/pr/b57e269807cf?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-rv-insurance%252F">Roamly</a>, you can rent out your RV and the company won’t cancel your coverage.</p><p>You can keep your original insurance policy and pay for specialized rental policy that covers you during the rental period through a platform like Outdoorsy (owned by Roamly). You don’t have to notify Roamly that you’re renting out the RV or pay any additional rental fees (something other insurers may charge). Once the rental period is over, Roamly will resume your regular coverage.</p><h3>Other RV insurance companies we considered</h3><p>During our research for the best recreational vehicle insurance providers, we narrowed down our initial list to seven companies. The following didn’t make our final cut, not because they were lacking, but because other competitors had more standout features.</p><hr /><h4><a href="https://money.com/pr/m918b71d3050?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-rv-insurance%252F">RVInsurance.com</a></h4><p>RVInsurance.com can help you find a suitable policy, whether you use your RV for vacationing or as your residence. The agency works with Foremost, National General and Safeco. These companies cover all RV types, from motorhomes to campers. They offer several policy add-ons, such as full replacement cost, full-timers liability coverage and roadside assistance.</p><p><strong>Why we didn’t pick it:</strong> Though RVinsurance.com partners with reputable insurers it didn’t stand out when compared to similar RV insurance agencies.</p><hr /><h4><a href="https://money.com/pr/kf8d637205a1?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-rv-insurance%252F">AAA</a></h4><p>AAA offers coverage for different types of RVs and some of its policies also cover personal effects such as electronics.</p><p><strong>Why we didn’t pick it:</strong> AAA didn’t make our list because coverage information isn’t readily accessible. You also have to be a member, which costs anywhere from $65 to $125 annually.</p><hr /><h4><a href="https://money.com/pr/sfa249e27c6f?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-rv-insurance%252F">Allstate</a></h4><p>Allstate’s policies include emergency travel expenses if you’re over 50 miles from home when your RV breaks down and the issue is covered under the policy.</p><p><strong>Why we didn’t pick it:</strong> Allstate is not on our main list because it only provides quotes through its sales agents and the information on its website is limited. That said, RV owners interested in Allstate insurance can check out National General, an Allstate company and one of our top picks.</p><hr /><h4><a href="https://money.com/pr/m72b56de095b?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-rv-insurance%252F">Geico</a></h4><p>Geico offers coverage options comparable to those of other companies on our list (such as total loss replacement, emergency expenses coverage and vacation liability).</p><p><strong>Why we didn’t pick it:</strong> Geico’s policies aren’t available nationwide, and its website lacks crucial details, such as available discounts.</p><hr /><h2>What You Need to Know About RV Insurance</h2><p>Specialized RV insurance coverage combines the benefits of <a href="https://money.com/best-auto-insurance/">auto insurance</a> and <a href="https://money.com/best-home-insurance">homeowner’s insurance</a> policies to cover the most common challenges you may face as an RV owner. Those include mechanical failure, inclement weather, theft or damage to the vehicle or your belongings, and even emergency lodging and transportation if you lose access to your RV while traveling.</p><p>Read on for a detailed breakdown of the coverages and costs as well as tips on how to select the best policy.</p><h3>Coverage options for part-time RVers</h3><p>People who use their motorhomes for weekend getaways or periodic vacations should at least have basic liability coverage that meets their state’s minimum requirements.</p><p>For added peace of mind, part-time RVers may also want:</p><ul><li><strong>Property damage liability coverage:</strong> Pays for damages you cause to another person’s property or vehicle.</li><li><strong>Bodily injury liability coverage:</strong> Reimburses the medical expenses of those you injure in an at-fault accident.</li><li><strong>Collision coverage:</strong> Covers repairs to your RV after an accident with another vehicle, whether you’re at fault or not.</li><li><strong>Comprehensive coverage:</strong> Pays for damages caused by theft, vandalism, natural disasters, fire and other non-collision accidents.</li><li><strong>Uninsured/Underinsured motorist coverage:</strong> Covers the cost of RV repairs and your medical payments if you’re in an accident caused by a driver without insurance or with insufficient coverage.</li><li><strong>Personal Injury Protection (PIP):</strong> Covers medical expenses for you and your passengers in the event of an accident, no matter who is at fault. It may also cover lost wages.</li><li><strong>Campsite/vacation liability coverage:</strong> Reimburses your legal expenses if you’re held liable for injuries or losses incurred by a non-family member at a campsite or inside your RV.</li><li><strong>Roadside assistance:</strong> Offers towing and emergency assistance should your RV experience a flat tire, battery discharge or other malfunction.</li></ul><h3>Coverage options for full-time RVers</h3><p>Full-time RVers may want to add the following to their base policy:</p><ul><li><strong>Personal property coverage:</strong> Covers the cost of replacing any damaged or stolen personal belongings such as clothing, furniture, jewelry, and computers.</li><li><strong>Total loss replacement:</strong> Replaces your RV with an equal or similar model if your vehicle is stolen or totaled in an accident – rather than reimbursing you only for the depreciated value of your RV. In other cases, total loss replacement may reimburse you for the original purchase price.</li><li><strong>Full-time RV liability coverage:</strong> Adds additional coverage for liability and medical expenses if you live in your RV for six months or more each year.</li><li><strong>Emergency expense allowance:</strong> Covers living and travel expenses such as car rentals, lodging and food if your RV breaks down or is in an accident, leaving you stranded while traveling.</li><li><strong>Supplemental benefits:</strong> This adds coverage for such items as awnings, satellite dishes and solar panels, and even for pet injuries that happen in the vehicle.</li><li><strong>Loss assessment:</strong> Helps cover fees charged by RV associations for damage to common areas, such as in a campsite.</li></ul><h3>What RV insurance doesn’t cover</h3><p>RV insurance won’t cover the following:</p><ul><li><strong>Normal wear and tear:</strong> RV insurance protects your vehicle against unexpected events, not for the cost of routine maintenance or deterioration.</li><li><strong>Mold damage, fungi or rot:</strong> Insurers view mold as a sign of neglect and will not cover damages, except for those directly linked to water damage caused by a covered event.</li><li><strong>Certain types of water damage:</strong> RV insurance doesn’t cover water damage caused by regular wear and tear, freezing temperatures or manufacturer defects.</li><li><strong>Earthquake damage:</strong> RV insurance covers most natural disasters, including floods, storms and fires. But, depending on the insurer, earthquake coverage may not be included.</li></ul><h3>How much is RV insurance?</h3><p>As when insuring a car, the cost of RV insurance depends on the owner’s driving record, the type of vehicle, its age, condition and features, and how much you use it.</p><p>According to data published by Progressive, an annual policy for a travel trailer costs $600. This includes liability, comprehensive and collision coverage. The same coverage for a motorhome costs a little over $1,000. If you’re taking out a liability-only policy, the average premium is much lower, at about $125 per year.</p><h4>What determines your RV insurance premium?</h4><p>The cost of your RV insurance policy depends on these factors:</p><ul><li><strong>The type of RV:</strong> Motorhomes insurance costs more than policies for trailers, camper vans and pop-up campers.</li><li><strong>Age and condition:</strong> Older trailers and motorhomes cost less to insure due to their reduced resale value.</li><li><strong>Type of RV insurance:</strong> A liability-only policy is more affordable than one that adds collision and comprehensive coverage, along with protection for personal property.</li><li><strong>Where you live:</strong> Your state and zip code affect your insurance rates. RVs in areas prone to extreme weather, or where RV theft and vandalism are higher, will be more expensive to insure.</li><li><strong>Driving experience and driving record:</strong> Insurers will review your general driving record and your experience with RVs. A first-time RV owner poses a higher risk than an experienced RVer.</li><li><strong>Claims history:</strong> Drivers who have never filed a claim are likely to secure a better rate.</li><li><strong>Credit score:</strong> Your credit score may be used to assess your claims risk, except in states where that use is prohibited by law.</li></ul><h3>How to buy RV insurance</h3><p>Here are some tips on how to find and purchase the right RV insurance coverage for you.</p><h4>1. Determine the coverage you need</h4><p>Take stock of how you use your RV and what you want to protect. People who live in their RV full time have different insurance needs than occasional users or people who rent out their vehicle.</p><p>If you’re <a href="https://money.com/rv-rental-insurance-five-tips/">renting an RV</a>, you’ll need an insurance policy specifically designed for that purpose. You can get it through the rental company or your auto insurer. Your existing auto policy may also provide some rental RV coverage. However, it may not apply in certain states or for trips over 30 days, so check with your insurer.</p><h4>2. Shop around for RV insurance quotes</h4><p>For the best rates, compare quotes from multiple insurers using an online marketplace or by consulting an independent insurance agent.</p><p>It also pays to shop around when the policy’s renewal comes around, especially if no loyalty discounts have yet kicked in, and if your premiums have risen from the previous year.</p><p>During this step, it’s important not to withhold details from your insurance provider. For instance, you might get a cheaper premium by not disclosing that you plan to live in the RV, but if you were to file a claim and the insurer discovered that you misrepresented information, they could reject the claim and cancel your coverage.</p><h4>3. Look for discounts and policy bundles</h4><p>Insurers offer several opportunities to lower your premium rate. There are discounts for installing safety features, staying accident-free for at least three years, storing your vehicle seasonally and more.</p><p>You can also snag a lower rate by bundling your RV policy with your home or car insurance. Bundling also helps you avoid the hassle of dealing with different companies when you have to file multiple claims – for, say, weather damage to your home and vehicles.</p><h3>What kind of insurance do I need to rent out my RV?</h3><p>You need a temporary RV rental policy that covers the guest. This policy provides liability and medical payments coverage if the renter is responsible for property damage or injury to others. You can also add collision and comprehensive coverage to protect the RV itself.</p><p>If you rent out your vehicle through platforms like Outdoorsy and RVshare, you may not have to buy extra coverage — the company requires renters to buy insurance that will cover your RV.</p><h2>Methodology</h2><ul><li><strong>Coverage options and discounts:</strong> We picked companies that offer a comprehensive selection of coverage options and premium discounts.</li><li><strong>Customer satisfaction</strong>: We favored companies with above-average scores in J.D. Power’s latest U.S. Auto Insurance Study and considered customer feedback from review sites such as the Better Business Bureau (BBB).</li><li><strong>Financial strength:</strong> We considered each insurer’s financial stability, as evidenced by its AM Best financial strength rating (FSR). AM Best is a credit rating agency that assesses insurance companies’ creditworthiness.</li><li><strong>Complaint index:</strong> We looked up every insurer’s complaint trend report from the National Association of Insurance Commissioners (NAIC) and favored those with few complaints</li></ul><h2>Latest News in RV Insurance</h2><p>Hikes in auto insurance premiums may have slowed down in 2024, but drivers still chose to shop for lower-priced policies. The number of people shopping for automotive insurance increased by 6% compared to the previous year, according to J.D. Power’s Insurance Shopping Study.</p><p>More insurers are offering usage-based insurance (UBI) programs to auto owners. There are only a handful of RV “pay-per-mile” programs, which are a type of of UBI policy. But the increasing availability for car owners might signal a future shift in how premiums for all motor vehicles — including RVs — are determined.</p><hr><h2>RV Insurance FAQs</h2><h3>What states require trailer insurance?</h3><p>Most states require liability insurance and uninsured/underinsured motorist coverage for trailers that have a motor and are self-powered, except for New Hampshire and Virginia.</p></p><p>Legally, you don't need additional insurance for a non-motorized trailer hooked up to your car. The car's insurance coverage extends to the trailer attached to it. However, this coverage is typically limited to liability and does not cover your belongings or any damage to the trailer.</p><h3>Does RV insurance cover water damage?</h3><p>Coverage may pay for water damage beyond the owner's control. For example, RV insurance would cover the resulting water damage if a storm causes a branch to fall and puncture your roof. However, it won't cover water damage due to neglect or poor maintenance. For instance, you'd be out of luck if you were caught in inclement weather and water were to leak through a cracked window seal you had neglected to repair. </p><h3>What is vacation liability RV insurance?</h3><p>Vacation liability coverage offers personal liability protection if someone is injured in or around your RV when it is parked off public roads. This rider is often recommended for full-time RVers or those who frequently go on road trips. Insurers usually cover up to around $10,000 but may increase the limit to $100,000 or more for an additional cost.</p><hr><h2>Summary of Money’s Best RV Insurance of June 2025</h2><ul><li><a href="https://money.com/best-rv-insurance/#progressive">Progressive</a> – Best Overall</li><li><a href="https://money.com/best-rv-insurance/#auto-owners">Auto-Owners Insurance</a> – Best for Customer Satisfaction</li><li><a href="https://money.com/best-rv-insurance/#nationwide">Nationwide</a> – Best for Discounts</li><li><a href="https://money.com/best-rv-insurance/#national-general">National General</a> – Best for Specialized Coverages</li><li><a href="https://money.com/best-rv-insurance/#good-sam">Good Sam</a> – Best for Comparing Multiple Providers</li><li><a href="https://money.com/best-rv-insurance/#roamly">Roamly</a> – Best for Renting Out Your RV</li></ul><p><a href="https://secure.money.com/pr/ief8da99c06c?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-rv-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-rv-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=ief8da99c06c&type=image" /></a></p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5985758</post-id> <media:thumbnail url="https://img.money.com/2023/12/Best-RV-Insurance-mbci_7xcy3__5ci54x.jpg?quality=85" /> <media:content url="https://img.money.com/2023/12/Best-RV-Insurance-mbci_7xcy3__5ci54x.jpg?quality=85" medium="image"> <media:title type="html">Best-RV-Insurance</media:title> </media:content> </item> <item> <title>9 Best Travel Insurance Companies of July 2025</title> <link>https://money.com/best-travel-insurance/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Tue, 01 Jul 2025 18:40:40 +0000</pubDate> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5985748</guid> <description><![CDATA[What to know about travel insurance Travel insurance can reimburse you for lost luggage, missed flights, trip cancellations and emergency medical expenses. Purchase travel insurance right after booking the trip to ensure the best coverage. Our top picks include Seven Corners, Generali Global Assistance and TravelInsured.com How we chose our top picks To select our…]]></description> <content:encoded><![CDATA[<p><a href="https://secure.money.com/pr/k3290c7095ae?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-travel-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-travel-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=k3290c7095ae&type=image" /></a></p><h3>What to know about travel insurance</h3><ul><li>Travel insurance can reimburse you for lost luggage, missed flights, trip cancellations and emergency medical expenses.</li><li>Purchase travel insurance right after booking the trip to ensure the best coverage.</li><li>Our top picks include Seven Corners, Generali Global Assistance and TravelInsured.com</li></ul><h3>How we chose our top picks</h3><p>To select our top picks, our team vetted 15 companies after conducting 1,000+ hours of research based on 15+ data points. We read the fine print on travel insurance plans and compared coverage options and prices to determine which insurers offer coverage that could meet the needs of specific groups.</p><p>Read the <a href="https://money.com/best-travel-insurance/#method">full methodology</a> to learn more.</p><h2>Our Top Picks for the Best Travel Insurance</h2><ul><li><strong><a href="#aig">AIG Travel Guard</a> </strong>– Best for Add-Ons</li><li><strong><a href="#allianz">Allianz Travel</a></strong> – Best for Business Travel</li><li><strong><a href="#generali">Generali Global Assistance</a> </strong>– Best for Emergency Support Services</li><li><strong><a href="#hth">HTH Travel Insurance</a> </strong>– Best for Long-Term Insurance for International Travel</li><li><a href="#nationwide"><strong>Nationwide</strong></a> – Best Cruise Travel Insurance</li><li><strong><a href="#sevencorners">Seven Corners</a> </strong>– Best for Large Groups</li><li><strong><a href="#travelex">Travelex</a> </strong>– Best for Families with Children</li><li><strong><a href="#travelinsurance">TravelInsurance.com</a> </strong>– Best for Comparing Travel Insurance Quotes</li><li><strong><a href="#world">World Nomads</a> </strong>– Best for Adventure Sports Coverage</li></ul><p class="p1"><a href="https://secure.money.com/pr/h2e5a14ae710?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-travel-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-travel-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=h2e5a14ae710&type=image" /></a></p><hr /><p class="p1"><a href="https://secure.money.com/pr/lcd80498f932?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-travel-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-travel-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=lcd80498f932&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Lodging expense benefit</li><li>Trip saver and exchange specialized coverage included</li><li>A child 17 and under is covered per insured</li><li>Covers trips to Cuba if the traveler provides additional documentation</li></ul><h3>Cons</h3><ul><li>High cost of premiums</li><li>Most add-ons are not available for the basic plan</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Age restrictions</dt><dd>Insures travelers of all ages</dd></dl><dl><dt>Coverage add-ons</dt><dd>CFAR, waiver for pre-existing conditions and extra medical coverage</dd></dl><dl><dt>AM Best rating</dt><dd>A</dd></dl><hr><p><strong>Why we chose it</strong>: We chose <a href="https://secure.money.com/pr/w2fd7ee8b6e0">AIG Travel Guard</a> as the best travel insurance for add-ons because it offers travelers a wide variety of coverage options to customize their plans.</p><p>AIG Travel Guard offers unique services such as MedEvac and Bag Trak® as well as coverage options few (if any) other insurers offer: a pet bundle, a wedding bundle (for canceled weddings) and an inconvenience bundle in the event any attractions you wanted to visit are closed.</p><p>Another of AIG’s specialized insurance products is lodging expense coverage. This benefit is for travelers who test positive for COVID-19 and must remain abroad until they present a negative test result. There’s also a Pack N’ GO Plan for last-minute trips which includes post-departure coverage and 24-hour emergency travel assistance.</p><hr /><p class="p1"><a href="https://secure.money.com/pr/de75308c8768?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-travel-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-travel-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=de75308c8768&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Epidemic coverage endorsement</li><li>Allianz TravelSmart App</li><li> Annual plan geared to business travelers</li><li>24-hour multilingual assistance hotline</li></ul><h3>Cons</h3><ul><li>Low medical coverage</li><li>No "cancel for any reason" benefit</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Age restrictions</dt><dd>Insures travelers of all ages</dd></dl><dl><dt>Coverage add-ons</dt><dd>Rental car collision/loss</dd></dl><dl><dt>AM Best rating</dt><dd>A+</dd></dl><hr><p><strong>Why we chose it</strong>: <a href="https://secure.money.com/pr/l1c53f517d51">Allianz Travel</a> is our choice for the best travel insurance for business trips because its annual plan offers comprehensive coverage that includes trip cancellation and interruption, emergency medical and transportation, rental car damage and theft, and business equipment protection.</p><p>Allianz offers 10 distinct travel insurance plans, ranging from basic cancellation coverage to comprehensive multi-trip protection. All plans include a 24-hour multilingual assistance hotline and the TravelSmart App, which gives quick access to travel advisories, local medical facilities, mobile claims filing and more.</p><p>Another one of Allianz’s highlights is its lack of age restrictions (most other insurers limit coverage by age). Some of its plans also cover kids 17 and under traveling with a parent or grandparent.</p><hr /><p class="p1"><a href="https://secure.money.com/pr/g7015f9932fd?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-travel-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-travel-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=g7015f9932fd&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Offers 24-hour emergency assistance services</li><li>Up to $1K upfront payment for acute medical treatment</li><li>Car rental damage add-on available</li></ul><h3>Cons</h3><ul><li>Pre-existing condition coverage only available in the Premium plan</li><li>High premium costs</li><li>"Cancel for any reason" only available for the Premium plan</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Age restrictions</dt><dd>Insures travelers of all ages</dd></dl><dl><dt>Coverage add-ons</dt><dd>Rental car damage and CFAR coverage</dd></dl><dl><dt>AM Best rating</dt><dd>A+</dd></dl><hr><p><strong>Why we chose it</strong>: <a href="https://secure.money.com/pr/ueed5bb6aadf">Generali Global Assistance</a> is our choice for the best travel insurance for emergency support services because all of its policies include 24-hour Travel Support for problems that might arise during a trip — from medical emergencies to identity theft.</p><p>Travelers can choose between three plans — Standard, Preferred and Premium — that cover trip cancellation, trip interruption, travel delay, and baggage damage, loss or theft. Each plan also covers medical and dental emergencies up to specific payout limits (from $50,000 to $250,000 per person).</p><p>Both its Preferred and Premium plans include trip cancellation benefits or trip interruption in case a travel supplier — say, a cruise company, hotel or rental car company — becomes insolvent and can no longer offer its services.</p><hr /><p class="p1"><a href="https://secure.money.com/pr/v5ee481c0108?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-travel-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-travel-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=v5ee481c0108&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Travel medical insurance for groups of five or more</li><li>International expatriate comprehensive coverage</li><li>Passport app to find doctors, pharmacies, and translations of drug names</li><li>Pet medical expense coverage</li></ul><h3>Cons</h3><ul><li>12-hour wait for bag delay coverage (24 hours under the economy plan)</li><li>"Cancel for any reason" option is only offered in the Preferred plan</li><li>Eligibility for the multi-trip plan requires primary health insurance</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Age restrictions</dt><dd>Insures travelers up to 95 years of age</dd></dl><dl><dt>Coverage add-ons</dt><dd>CFAR and International Expatriate Travel coverage</dd></dl><dl><dt>AM Best rating</dt><dd>A (Nationwide)</dd></dl><hr><p><strong>Why we chose it</strong>: <a href="https://secure.money.com/pr/le09935bd2b2">HTH Travel Insurance</a> is our choice for the best travel insurance for long-term international travel because it offers specialty coverage for expats and students. Its Xplorer Plan features no deductible for office visits, no waiting periods for preventive care services, and no waiting period for pre-existing conditions with proof of prior coverage.</p><p>HTH Travel Insurance also offers international health insurance for students with flexible trip duration options. This plan has unlimited annual and lifetime medical care maximums, includes supplies and prescriptions and covers medically necessary COVID-19 testing and treatment.</p><p>Other global health and safety services available through HTH Travel Insurance include 24/7 call assistance, access to elite international doctors and hospitals, and translated medical terms.</p><hr /><p class="p1"><a href="https://secure.money.com/pr/q56a172640c1?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-travel-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-travel-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=q56a172640c1&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Offers a pre-existing condition waiver</li><li>24-hour assistance</li><li>Multi-trip plans</li></ul><h3>Cons</h3><ul><li>Must wait 12 hours before bag delay coverage</li><li>"Cancel for any reason" only available for the Premium plan</li><li>Few options for additional coverage.</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Age restrictions</dt><dd>Insures travelers uo to 81 years of age</dd></dl><dl><dt>Coverage add-ons</dt><dd>Rental car collision/loss, accidental death & dismemberment</dd></dl><dl><dt>AM Best rating</dt><dd>A</dd></dl><hr><p><strong>Why we chose it</strong>: We picked <a href="https://secure.money.com/pr/ib6ba7c3008b">Nationwide</a> as the best travel insurance for cruises because it offers three cruise insurance plans (Universal, Choice and Luxury) that fit different budgets and needs.</p><p>Nationwide’s emergency medical coverage starts at $75,000, and all three plan tiers include “cancel for work reasons” coverage, a $500 return-home-early benefit, $200 in coverage for shipboard service disruption, and $25,000 for non-medical evacuations.</p><p>Nationwide also has two single-trip plans: Essential and Prime. In addition to industry-standard trip protection basics, these plans offer above-average medical coverage starting at $75,000 and a “cancel for any reason” add-on that reimburses 75% of non-refundable trip costs.</p><hr /><p class="p1"><a href="https://secure.money.com/pr/kd2abe4f9a0e?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-travel-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-travel-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=kd2abe4f9a0e&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Coverage from five up to 364 days</li><li>Allows coverage extensions</li><li>Website includes sample scenarios to illustrate how the coverage works</li></ul><h3>Cons</h3><ul><li>Hazardous activities not included in coverage (add-on only)</li><li>Different plan options for WA, NY, PA, and MO residents</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Age restrictions</dt><dd>Insures travelers 14 days of age to 100 years old</dd></dl><dl><dt>Coverage add-ons</dt><dd>CFAR, Interruption for Any Reason, Event Ticket Registration Fee</dd></dl><dl><dt>AM Best rating</dt><dd>A (United States Fire Insurance Company)</dd></dl><hr><p><strong>Why we chose it</strong>: We chose <a href="https://secure.money.com/pr/uc6bd5d54d53">Seven Corners</a> as the best travel insurance for large groups because it insures parties of 10 or more travelers through comprehensive policies that cover medical expenses and evacuations.</p><p>Seven Corners’ simple and budget-friendly Trip Protection Choice plan covers trip cancellation, interruption or delays for specific reasons, including COVID-19 for groups of 10 or more. Its emergency medical protection goes up to $500,000 and offers up to $1,000,000 for medical evacuation and repatriation of remains.</p><p>In addition to its group trip travel insurance plans, Seven Corners has three travel medical plan tiers with comprehensive medical coverage for emergency room visits, hospital room and board, and onset of pre-existing medical conditions. These plans include 24/7 multilingual customer service.</p><hr /><p class="p1"><a href="https://secure.money.com/pr/af283826b732?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-travel-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-travel-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=af283826b732&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Flight insurance plans available</li><li>Pre-existing conditions waiver</li><li>Several upgrades available</li></ul><h3>Cons</h3><ul><li>Upgrades not available for the Basic plan</li><li>Customer service has limited operating hours</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Age restrictions</dt><dd>Insures travelers of all ages</dd></dl><dl><dt>Coverage add-ons</dt><dd>Pre-existing conditions waiver, adventure sports, accidental death and dismemberment, CFAR, car rental collision, additional medical coverage</dd></dl><dl><dt>AM Best rating</dt><dd>A++ (Berkshire Hathaway Specialty Insurance), A+ (Zurich Insurance Group)</dd></dl><hr><p><strong>Why we chose it</strong>: <a href="https://secure.money.com/pr/peb7d4518e2a">Travelex</a> is our choice as the best travel insurance for families with children because it offers two plans that cover family members under 17 at no additional cost.</p><p>Travelex Insurance Service features two main plans for international trips, Travel Basic and Travel Select — plus a Travel America plan for trips in the USA. Both plans include children 17 and under at no additional cost.</p><p>The Travel Basic is an affordable plan perfect for students, backpackers, small groups or those on a budget. These plans cover trip cancellation and interruption at 100% of the trip cost and offer up to $2,000 for trip delays or missed connections.</p><hr /><p class="p1"><a href="https://secure.money.com/pr/l8b7a17e90ca?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-travel-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-travel-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=l8b7a17e90ca&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Emergency medical $100,000 (accident and sickness)</li><li>Buy more while traveling</li><li>24/7 emergency support (Generali Global Assistance)</li></ul><h3>Cons</h3><ul><li>Does not cover pre-existing conditions</li><li>No "cancel for any reason" option offered</li><li>Trip Cancellation/Interruption coverage low compared to other providers ($2.5K-$10K)</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Age restrictions</dt><dd>Insures travelers under 70 years of age</dd></dl><dl><dt>Coverage add-ons</dt><dd>None</dd></dl><dl><dt>AM Best rating</dt><dd>A (Nationwide)</dd></dl><hr><p><strong>Why we chose it:</strong> <a href="https://secure.money.com/pr/u54a7cbc7e17">World Nomads</a> is the best travel insurance for travelers who enjoy adventure sports because it covers over 150+ sports and adventure activities, unlike most companies.</p><p>Its Standard and Explorer plans cover scuba diving, skiing, surfing and 150+ other sports and activities. Both plans include accident and illness coverage and 24/7 emergency support as well as emergency evacuation, trip cancellation, trip interruption, trip delay, accidental death and lost luggage or theft.</p><p>While most companies don’t let you purchase or extend coverage during the trip, World Nomads offers a rare alternative; individuals who didn’t purchase coverage before their trip can enroll in the company’s “Buy While Traveling” plan. Those who already purchased a policy can also extend their coverage to keep exploring.</p><hr /><p class="p1"><a href="https://secure.money.com/pr/e2c93a4e258b?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-travel-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-travel-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=e2c93a4e258b&type=image" /></a></p><h3>Other travel insurance companies we considered</h3><p>In this section, we feature popular companies that didn’t make our top picks. The table below highlights the highest coverage available for each type of benefit. Check out the full reviews to learn more about each provider:</p><h4>TravelInsurance.com</h4><p><strong>Why it didn’t make the cut</strong>: <a href="https://secure.money.com/pr/p379b35a171a">TravelInsurance.com</a> is a travel insurance comparison platform, not a direct insurer. That said, it’s a great tool for users who want to compare plans from top travel insurance providers quickly and easily. Users can input their trip details and receive personalized quotes based on the travelers’ ages and the duration and cost of the trip. The results page presents multiple policies in a simple table for easy comparison, displaying essential coverage information, reviews, ratings and a link to each provider’s COVID-19 policy FAQs.</p><h4>Tin Leg</h4><p><strong>Why it didn’t make the cut</strong>: Tin Leg has no coverage for rental car damage, limited customer service hours and limited baggage and personal effects coverage, even with the premium plan. On the plus side, some policies cover financial default and employment layoff, and the company also offers a rider to cover sports activities and equipment as well as a rider to cover cancellations for medical and work reasons.</p><h4>Berkshire Hathaway Travel Protection</h4><p><strong>Why it didn’t make the cut</strong>: Berkshire Hathaway didn’t make our list of the best providers because its medical expense maximums are lower than those of competitors. Additionally, the basic plan does not include missed connection or accidental death and dismemberment coverage. Berkshire Hathaway stands out from competitors in one respect: its AirCare plan offers unique flight protection that monitors your flights and processes reimbursements automatically, so you don’t even need to file a claim.</p><h2>Travel Insurance Guide</h2><p><a href="https://money.com/what-is-travel-insurance/">Travel insurance</a> reimburses you if you need to cancel or interrupt your trip early. It can also pay for stolen or lost baggage and medical expenses if you get sick or injured during the trip.</p><p>Read on to learn how travel insurance works and tips on how to select the right type of coverage.</p><h3>What does travel insurance cover?</h3><p>Comprehensive travel insurance covers common travel issues and mishaps, from accidents to baggage delays.</p><p>The following are standard coverage options and add-ons.</p><ul><li><strong>Trip cancellation insurance </strong>refunds up to 100% of prepaid, non-refundable travel costs if you cancel an upcoming trip for covered reasons.</li><li><strong>Trip interruption coverage</strong> reimburses you for the unused portion of the trip and any expenses you may incur to get back home. Covered events include natural disasters and medical emergencies. Insurers typically cap reimbursement at 150% of the cost of the trip.</li><li><strong>Travel delay coverage</strong> reimburses you (up to the policy’s coverage limits) for extra expenses such as meals or lodgings during a flight delay. It may also cover airport delays and any flight change fees necessary to catch up on your travel plans.</li><li><strong>Emergency <a href="https://money.com/what-is-travel-medical-insurance/">travel medical insurance</a></strong> reimburses you for medical expenses incurred during your trip under certain circumstances. Coverage amounts for medical expenses can range from $15,000 to $50,000. Coverage may apply even if you’re <a href="https://money.com/travel-insurance-when-pregnant/">pregnant while traveling</a>.</li><li><strong>Emergency medical evacuation coverage</strong> reimburses you if you need to be evacuated to the nearest medical facility or to a facility in your country of origin. Maximum benefits usually range between $100,000 and $500,000 but can be as high as $1 million.</li><li><strong>Baggage and personal effects coverage</strong> refunds you the cost of replacement items if your luggage is lost or delayed during your trip, typically up to $2,500. You must wait a predetermined number of hours before filing a claim and submit purchase receipts or a list of items in your luggage. Coverage may be subject to a deductible.</li><li><strong>Worldwide assistance </strong>offers 24/7 customer service should you need assistance while traveling. This includes multilingual medical hotlines that can provide medical advice and refer you to local healthcare services.</li></ul><h4>Popular travel insurance add-ons</h4><p>Here we explain a variety of add-ons or riders that allow you to increase benefit limits and cover activities that may be excluded from standard policies.</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col span="2" style="width:50%" /></colgroup><tbody><tr><td><p>Cancel for any reason coverage</p></td><td><p>CFAR coverage allows you to cancel your travel plans for any reason and get reimbursed for 50% to 75% of pre-paid, non-refundable expenses.</p></td></tr><tr><td><p>Pre-existing medical condition waiver</p></td><td><p>Adds coverage for pre-existing medical conditions. Travelers must select this option within a certain number of days after making their initial trip deposit.</p></td></tr><tr><td><p><a href="https://money.com/rental-car-coverage-and-travel-insurance/" target="_self">Rental car insurance</a></p></td><td><p>Covers theft of or damages to a rental car due to causes beyond your control (think collisions, vandalism and weather events).</p></td></tr><tr><td><p>Adventure sports coverage</p></td><td><p>Covers injuries or losses caused by participating in adventure sports such as skydiving or bungee jumping.</p></td></tr><tr><td><p>Identity theft protection</p></td><td><p>Helps you notify creditors, cancel your cards, and get a replacement for your lost passport, credit card or other important documents.</p></td></tr></tbody></table><hr><h3>What does travel insurance not cover?</h3><p>The most common exclusions in a travel insurance policy are:</p><ul><li>Pre-existing medical conditions</li><li>Injuries that happen while you’re intoxicated with drugs or alcohol, even if the intoxicating substance is legal to use at the destination</li><li>“Foreseeable events” such as epidemics and pandemics that are officially declared by federal or international health agencies. (Insurance claims related to COVID-19 illness may be covered)</li><li>Missed flights, where the traveler is at fault</li><li>Injuries caused by extreme sports</li><li>Theft/loss of personal items such as electronic devices and jewelry</li><li>Pregnancy-related conditions</li></ul><h3>How much does travel insurance cost?</h3><p>The <a href="https://money.com/how-much-is-travel-insurance/">cost of travel insurance</a> can range from 4% to 12% of the total cost of your trip and depend on:</p><ul><li>Your age</li><li>Your travel destination</li><li>The length of your trip</li><li>The types of travel insurance benefits and policy limits you select</li></ul><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col width="40%" /><col width="40%" /></colgroup><thead><tr><th><p>Total trip cost</p></th><th><p>6% of trip cost (estimated travel insurance cost)</p></th></tr></thead><tbody><tr><td align="center"><p>$1,000</p></td><td align="center"><p>$60</p></td></tr><tr><td align="center"><p>$1,500</p></td><td align="center"><p>$90</p></td></tr><tr><td align="center"><p>$2,600</p></td><td align="center"><p>$156</p></td></tr><tr><td align="center"><p>$3,200</p></td><td align="center"><p>$192</p></td></tr><tr><td align="center"><p>$5,000</p></td><td align="center"><p>$300</p></td></tr></tbody></table><hr><p>* Insurance for a $2,200 trip for a family of four ranged from $90 to over $300, based on 6% of trip costs.</p><h3>How much travel insurance do I need?</h3><p>Before <a href="https://money.com/when-to-buy-travel-insurance/">buying travel insurance</a>, consider what losses you would incur if you were forced to cancel the trip because of an unexpected setback or medical emergency.</p><ul><li><strong>Non-refundable travel expenses:</strong> These include flight tickets, lodging reservations, pet care accommodations, travel activities like guided tours, and transportation expenses booked in advance.</li><li><strong>Potential medical emergencies:</strong> Travelers may need medical care abroad due to injuries, endemic illnesses and other health emergencies. Some travel insurers recommend a minimum of $50,000 in emergency medical coverage for international trips and $100,000 for cruises and trips to remote locations.</li><li><strong>Additional coverage needs:</strong> Travelers who engage in adventure sports may need a rider to ensure medical coverage if they get injured. These sports are usually excluded from trip insurance policies.</li></ul><h3>Is travel insurance worth it?</h3><p><a href="https://money.com/is-travel-insurance-worth-it/">Travel insurance could be worth it</a> in specific situations. Before buying a policy, consider the following scenarios.</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col width="40%" /><col width="40%" /></colgroup><thead><tr><th><p><strong>You may want travel insurance if:</strong></p></th><th><p><strong>You may not need travel insurance if:</strong></p></th></tr></thead><tbody><tr><td align="center"><p style="text-align: left">You've pre-paid for high-cost, non-refundable expenses like tours, concerts or sporting events.</p></td><td align="center"><p style="text-align: left">You're traveling domestically and have alternate coverage (car insurance, medical insurance that covers you across state lines, and a credit card that offers travel benefits).</p></td></tr><tr><td align="center"><p style="text-align: left">You're traveling internationally and need coverage for medical emergencies and evacuation.</p></td><td align="center"><p style="text-align: left">You can get reimbursed for trip expenses, especially costly ones.</p></td></tr><tr><td align="center"><p style="text-align: left">You're visiting an area where weather is unpredictable or there is political unrest.</p></td><td align="center"><p style="text-align: left">You're going on a short and relatively low-risk trip.</p></td></tr><tr><td align="center"><p style="text-align: left">You plan to participate in high-risk activities such as skiing or scuba diving.</p></td><td align="center"><p style="text-align: left">You can afford to cover emergency expenses out of pocket.</p></td></tr></tbody></table><hr><h3>How to get travel insurance</h3><p>You can <a href="https://money.com/can-you-buy-travel-insurance-after-booking-a-flight/">buy travel insurance after booking a flight</a>. However, it’s advisable not to delay obtaining a policy. The longer you wait between your initial trip payment and purchasing trip insurance, the greater the chance you’ll miss out on valuable add-ons like coverage for pre-existing conditions and CFAR upgrades.</p><p>The best time to purchase travel insurance coverage is right after you’ve booked your trip’s costliest non-refundable expenses, such as flight tickets and lodging.</p><h4>1. Define your travel insurance needs</h4><p>Consider your reasons for traveling, including who’s going with you and your planned activities. Also, note how long you’ll be away. You may need an annual travel insurance plan for long trips, which can narrow down your choice of providers.</p><p><a href="https://money.com/allianz-travel-insurance-review/">Business travel insurance</a> is suitable for frequent travelers who need coverage for items like work laptops and phones. Vacationers who booked a cruise may need a specialized policy such as <a href="https://money.com/nationwide-travel-insurance-review/">Nationwide’s cruise insurance plans</a>, and students in overseas programs may want to look into a plan like <a href="https://money.com/trawick-international-travel-insurance-review/">Trawick International Insurance</a>.</p><h4>2. Review the policy limits</h4><p>Each travel insurance benefit has a specific payout limit, which may or may not be enough for your particular situation. For example, individuals traveling with expensive personal belongings such as sports equipment, cameras or jewelry may want a higher payout limit for personal effects or riders for high-value items.</p><h4>3. Check the policy’s fine print</h4><p>Before finalizing any document, make sure the trip insurance policy you’re interested in covers the activities you have planned, especially if there are recreational sports involved.</p><p>Travelers with pre-existing medical conditions should also confirm whether those are covered under their policy. If not, they may need to look for a different provider or purchase supplemental medical coverage.</p><p>Take a moment to check if emergency assistance services are available 24/7 and what kind of assistance you can expect should you have a medical emergency or your belongings be stolen.</p><h4>4. Compare travel insurance quotes</h4><p>We recommend getting insurance quotes through comparison sites and marketplaces such as InsureMyTrip.com or SquareMouth Travel Insurance. Even if you’re traveling on a tight budget, you can still <a href="https://money.com/how-to-find-cheap-travel-insurance/">find cheap travel insurance</a> that will cover the essentials, such as medical expenses and personal effects.</p><p>Consider the following when comparing quotes:</p><ul><li>Affordability</li><li>Maximum payout limits for baggage loss or theft</li><li>Available add-ons such as “Cancel for Any Reason”</li><li>Policy terms regarding pre-existing medical conditions</li><li>Minimum wait time before you can file a claim for baggage loss and trip delays</li><li>Maximum payout limits for medical expenses and emergency evacuation</li></ul><h3>Credit card travel insurance</h3><p>Many credit cards offer flight insurance and travel protection for lodging and luggage if you use the card to pay for these trip expenses. That being said, if you <a href="https://money.com/credit-card-vs-travel-insurance/">compare credit card travel coverage with travel insurance</a>, you’ll see that most credit cards lack medical expenses and emergency evacuation coverage.</p><p>Read our guide to the <a href="https://money.com/best-travel-credit-card/">best travel credit cards</a> for more information on how your credit card can help you travel smarter.</p><h2>Methodology</h2><p>As part of our methodology, we obtained travel insurance quotes from the online comparison site Travelinsurance.com using the following profile:</p><ul><li>Family of four traveling from New York City to London</li><li>$2,200 on flight tickets for all four travelers</li></ul><p>We then reviewed the available plans and looked at the following factors to evaluate and compare each company:</p><ul><li><strong>Plans and coverage: </strong>We looked for insurers with a variety of plans and the ability to customize the policy with unique add-ons, such as coverage for extreme sports and lost gear or equipment.</li><li><strong>Reputation</strong>: To gauge each company’s reputation, we evaluated factors such as customer feedback and ratings, years in business and financial stability as evidenced by AM Best financial strength ratings.</li><li><strong>Customer service and support:</strong> We rated companies higher for having a 24/7 hotline, a global emergency network, mobile apps, multiple customer support options, and perks like concierge and translation services.</li><li><strong>Ease of use:</strong> We considered how easily you could get a quote and understand the policy information. Most of our top picks offer just a few plans to keep things simple or provide a comparison page where you can quickly spot the differences in each plan.</li></ul><h2>Latest News in Travel Insurance</h2><p>After three years of equitable exchange rates, U.S. dollar is weaker than the euro, making European tourism roughly 15% more expensive for Americans. But travel experts say you can still <a href="https://money.com/weak-dollar-save-money-summer-travel/?amp=true#">enjoy a summer trip to Europe without breaking the bank</a>.</p><p>InsureMyTrip reports that more people are requesting travel insurance quotes on its platform this year. Compared to the same time period in 2024, the travel insurance comparison website saw a 32% increase in request for quotes. According to the company, travelers are particularly concerned about unpredictable airline schedules and protecting non-refundable expenses.</p><p>Despite this increase in travel insurance requests, the travel industry is experiencing an overall slump in demand, CNBC reports. Concerned about economic uncertainty light of recent events (mass government layoffs, Canadians boycotting U.S. travel and the impending impact of tariffs), consumers are cutting back on unnecessary expenses and holding off on their travel plans.</p><hr><h2>Travel Insurance FAQ</h2><h3>Do I need travel insurance?</h3><p>Travel insurance can provide invaluable peace of mind, especially for international trips with non-refundable expenses. It acts as a financial safety net for unforeseen events, covering flight expenses, medical bills and reservation costs if you get sick or need to cancel or interrupt your trip. However, if your credit card offers travel insurance, additional coverage may be unnecessary.</p><h3>How does travel insurance work?</h3><p>Travel insurance reimburses covered expenses or losses before or during your trip, including medical emergencies and prepaid costs like airfare and accommodations. To get reimbursed for a covered loss, file a claim with evidence. The insurer will review and reimburse if the claim is valid; you can appeal if it's denied.</p><h3>When is it too late to buy travel insurance?</h3><p>Once you depart, you can't buy travel insurance. Coverage may be available up to 24 hours before departure, but specifics vary by provider. Last-minute policies cover basics like trip interruptions, delays, medical emergencies, and baggage loss, but exclude benefits like "cancel for any reason," "trip interruption for any reason," and pre-existing condition waivers.</p><h3>What is a pre-existing condition for travel insurance?</h3><p>Illnesses or injuries diagnosed 60 to 180 days before purchasing a policy are considered pre-existing conditions. Definitions vary by provider, so clarify with your insurer, even if you have a waiver, to avoid claim denial due to misunderstandings.</p><hr><h2>Summary of Money’s 9 Best Travel Insurance Companies of July 2025</h2><ul><li><strong><a href="#aig">AIG Travel Guard</a> </strong>– Best for Add-Ons</li><li><strong><a href="#allianz">Allianz Travel</a></strong> – Best for Business Travel</li><li><strong><a href="#generali">Generali Global Assistance</a> </strong>– Best for Emergency Support Services</li><li><strong><a href="#hth">HTH Travel Insurance</a> </strong>– Best for Long-Term Insurance for International Travel</li><li><a href="#nationwide"><strong>Nationwide</strong></a> – Best Cruise Travel Insurance</li><li><strong><a href="#sevencorners">Seven Corners</a> </strong>– Best for Large Groups</li><li><strong><a href="#travelex">Travelex</a> </strong>– Best for Families with Children</li><li><strong><a href="#travelinsurance">TravelInsurance.com</a> </strong>– Best for Comparing Travel Insurance Quotes</li><li><strong><a href="#world">World Nomads</a> </strong>– Best for Adventure Sports Coverage</li></ul><hr><p><a href="https://www.youtube.com/watch?v=HVqVUeo6fo0" target="_blank">Best Travel Insurance Companies</a></p><hr>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5985748</post-id> <media:thumbnail url="https://img.money.com/2023/12/Best-Travel-Insurance-mbci_9xcy3__kfi54x.jpg?quality=85" /> <media:content url="https://img.money.com/2023/12/Best-Travel-Insurance-mbci_9xcy3__kfi54x.jpg?quality=85" medium="image"> <media:title type="html">Best-Travel-Insurance</media:title> </media:content> </item> <item> <title>9 Best Pet Insurance Companies of July 2025</title> <link>https://money.com/best-pet-insurance/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Tue, 01 Jul 2025 18:21:38 +0000</pubDate> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5985478</guid> <description><![CDATA[[pet-insurer-quote-widget] What to know about pet insurance Pet insurance reimburses you for diagnostic tests, hospitalization, surgery and more if your pet gets sick or injured Though pet insurance seems similar to health insurance, it works more like your car or home insurance policy. You pay upfront then file an insurance claim for reimbursement Much like…]]></description> <content:encoded><![CDATA[<p>[pet-insurer-quote-widget]</p><h2>What to know about pet insurance</h2><ul><li>Pet insurance reimburses you for diagnostic tests, hospitalization, surgery and more if your pet gets sick or injured</li><li>Though pet insurance seems similar to health insurance, it works more like your car or home insurance policy. You pay upfront then file an insurance claim for reimbursement</li><li>Much like your home insurance doesn’t pay for cleaning your gutters or sealing your roof, pet insurance doesn’t cover routine care like vaccinations and annual check-ups</li><li>It’s important to enroll your pet when it’s young and healthy in order to avoid pre-existing condition clauses</li></ul><h2>How we chose our top picks</h2><p data-pm-slice="1 1 []">At Money Magazine, we have been helping readers navigate personal finance since 1972. Our editors and writers evaluate insurance companies independently, ensuring our content is precise and guided by editorial integrity. To identify the best providers on the market, we’ve dedicated 1,000+ hours to researching, comparing and analyzing 50+ data points from 19 pet insurance companies.</p><p data-pm-slice="1 1 []">Read the <a href="#methodology">full methodology</a> to learn more.</p><h2>Our Top Picks for Best Pet Insurance of July 2025</h2><ul><li><a href="#akc">AKC</a> – Best for Pre-Existing Conditions</li><li><a href="#embrace">Embrace</a> – Best for Healthy Pet Discount</li><li><a href="#figo">Figo</a> – Best for Reimbursement Options</li><li><a href="#lemonade">Lemonade</a> – Best for Fast Claims Processing</li><li><a href="#metlife">MetLife</a> – Best for Multiple Pets</li><li><a href="#nationwide">Nationwide</a> – Best for Exotic Pets</li><li><a href="#petsbest">Pets Best</a> – Best for Treatment of Mobility Issues</li><li><a href="#pumpkin">Pumpkin</a> – Best for Puppies and Kittens</li><li><a href="#spot">Spot</a> – Best for Unlimited Coverage</li></ul><p><a href="https://secure.money.com/pr/v9b61b2a2667?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=v9b61b2a2667&type=image" /></a></p><hr /><p class="p1"><a href="https://secure.money.com/pr/fd6571659cce?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=fd6571659cce&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Offers supplemental accident and illness coverage for breeding pets</li><li>Direct payments to vets available under certain conditions</li><li>24/7 vet hotline available to policyholders</li></ul><h3>Cons</h3><ul><li>Coverage for congenital and hereditary conditions costs extra</li><li>No dental coverage except tooth extractions due to injury</li><li>6-month waiting period for orthopedic conditions coverage</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Plan options</dt><dd>Accident and illness, accident-only, preventive care</dd></dl><dl><dt>Annual payout limit</dt><dd>$2.5K, $5K, $7.5K,$10K, $15K, 20K, unlimited</dd></dl><dl><dt>Reimbursement rates</dt><dd> 70%, 80%, 90%</dd></dl><dl><dt>Annual deductible</dt><dd>$100, $250, $300, $400, $500, $600, $750, $1K</dd></dl><dl><dt>Waiting periods</dt><dd>2 days for accidents, 14 days for illnesses</dd></dl><dl><dt>Discounts</dt><dd>Multi-pet</dd></dl><hr><p><strong>Why we chose AKC:</strong> The<a href="https://money.com/pr/q63543b61d89?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-pet-insurance%252F"> American Kennel Club’s</a> (AKC) pet insurance policy offers unprecedented coverage for pre-existing conditions. It covers illnesses and injuries sustained before the policy’s effective date or during the waiting period.</p><p>To qualify, you must keep the policy active for 365 days. Any pre-existing issue that was initially excluded will be fully covered once the waiting period elapses and the policy renews. You can also pay extra for preventive care and coverage for end-of-life expenses, veterinary exam fees, behavioral therapy and issues related to breeding.</p><p>AKC’s coverage lacks in other respects. There’s no coverage for dental illnesses, and hereditary and congenital conditions coverage (HereditaryPlus rider) is sold separately. Residents of Florida, California and Washington must enroll their pet before its second birthday to qualify for this add-on.</p><hr /><p><a href="https://secure.money.com/pr/j7ec2bc1f99d?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=j7ec2bc1f99d&type=image" /></a></p><hr><h3>Pros</h3><ul><li>High upper age limit for enrollment</li><li>High annual reimbursement limit option compared to other competitors with annual caps</li><li>Includes up to six months of pet travel insurance</li></ul><h3>Cons</h3><ul><li>Limited wellness benefits</li><li>Caps dental illness coverage at $1,000 a year</li><li>Patellar luxation and hip dysplasia are excluded for six months</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Plan options</dt><dd>Accident and illness, accident-only</dd></dl><dl><dt>Annual payout limit</dt><dd>$5K, $8K, $10K, $15K, $30K</dd></dl><dl><dt>Reimbursement rates</dt><dd>70%, 80%, 90%</dd></dl><dl><dt>Annual deductible</dt><dd>$100, $250, $500, $750, $1K</dd></dl><dl><dt>Waiting periods</dt><dd>14 days for illnesses</dd></dl><dl><dt>Discounts</dt><dd>Multi-pet, military and healthy pet</dd></dl><hr><p><strong>Why we chose Embrace:</strong> <a href="https://secure.money.com/pr/t5e6c54b811e?data-trk-company=embrace-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=t5e6c54b811e&encoded_id=%7B%7Bencoded_id%7D%7D">Embrace pet insurance</a> is one of the few companies that offer a discount for keeping your pet healthy. If you don’t exceed $300 in claims in the year prior to the discount period, you can earn 5% off your monthly premium the first year you qualify. The discount increases to 10% if you also qualify the following year.</p><p>Embrace is also the insurer behind USAA’s pet insurance policy, a members-only financial services company with excellent customer satisfaction ratings. Military members, veterans and eligible relatives can access all of Embrace’s pet insurance benefits at a 25% discount.</p><p>Policyholders should note that the company caps dental illness coverage at $1,000 per year. Additionally, an extended waiting period of six months applies to Intervertebral Disk Disease (IVDD), cruciate ligament injuries, patellar luxation and hip dysplasia. Finally, there’s no coverage for natural supplements, vitamins or food.</p><hr /><p><a href="https://secure.money.com/pr/t4101396920b?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=t4101396920b&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Up to 100% reimbursement with no annual limits</li><li>No upper age enrollment limit</li><li>Low deductible options</li><li>Most affordable premiums</li><li>1-day waiting period for accidents</li></ul><h3>Cons</h3><ul><li>No coverage on hereditary conditions if the pet is enrolled after 2nd birthday</li><li>Low payout limits in wellness care plan</li><li>Vet exam fees and physical therapy coverage require separate riders</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Plan options</dt><dd>Accident and illness, wellness rider</dd></dl><dl><dt>Annual payout limit</dt><dd>$5K,$10K, unlimited</dd></dl><dl><dt>Reimbursement rates</dt><dd>70%, 80%, 90%, 100%</dd></dl><dl><dt>Annual deductible</dt><dd>$100, $250, $500, $750, $1K</dd></dl><dl><dt>Waiting periods</dt><dd>1 day for accidents, 14 days for illnesses</dd></dl><dl><dt>Discounts</dt><dd>Multi-pet</dd></dl><hr><p><strong>Why we chose Figo: </strong>Most competitors offer only up to 90% reimbursement. <a href="https://money.com/pr/ved3845950f6?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-pet-insurance%252F">Figo</a> stands out because pet owners can choose up to 100% reimbursement without annual payout limits and avoid copayments entirely.</p><p>Figo offers pet owners the option to reduce their copayment to 0%, thanks to its 100% reimbursement option. (Generally, the lowest copayment provided by other insurers is 10%.). The company also offers several endorsements that add coverage for pet boarding, lost or stolen pets (advertising costs and the value of the pet if it isn’t found) and pet liability insurance.</p><p>Notable downsides include strict limits on its coverage for hereditary conditions such as hyperthyroidism, renal disease and intervertebral disc disease (IVDD). These issues are excluded if the pet is enrolled after its second birthday. Additionally, Figo offers exam fee reimbursement and physical therapy as separate riders, while other insurers include these benefits in their base policy.</p><hr /><p><a href="https://secure.money.com/pr/tcefd8acd59c?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=tcefd8acd59c&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Quick claims processing -- in minutes rather than weeks via mobile app</li><li>Multiple discounts available</li><li>A portion of payments go to charities</li><li>Customizable coverage</li></ul><h3>Cons</h3><ul><li>Only available in 38 states</li><li>Policies can only be adjusted at renewal</li><li>Older pets may not be eligible for coverage</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Plan options</dt><dd>Accident and illness, wellness rider</dd></dl><dl><dt>Annual payout limit</dt><dd>$5K, $10K, $20K, $50K, $100K</dd></dl><dl><dt>Reimbursement rates</dt><dd>70%, 80%, 90%</dd></dl><dl><dt>Annual deductible</dt><dd>$100, $250, $500</dd></dl><dl><dt>Waiting periods</dt><dd>2 days for accidents, 14 days for illnesses</dd></dl><dl><dt>Discounts</dt><dd>Multi-pet</dd></dl><hr><p><strong>Why we chose Lemonade:</strong><a href="https://money.com/pr/g2ec239e4bb0?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-pet-insurance%252F"> Lemonade</a> is our top pick for speedy claims because the company uses novel, AI-powered processing, which promises to deliver claims very quickly via the Lemonade app. The ability to direct a part of the company’s profit to a charity of your choice may also appeal to many pet owners.</p><p>Lemonade is only available in 38 states, but you can sign up for updates on its website. Users may also find Lemonade’s website hard to navigate. To get a quote, you have to input a lot of information that other insurers don’t require. Also, if you have questions the automated chat can’t answer, talking with a live agent via chat isn’t possible.</p><hr /><p class="p1"><a href="https://secure.money.com/pr/t0ac4a4a11a0?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=t0ac4a4a11a0&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Fast accident-only coverage</li><li>Low and no-deductible plans available</li><li>24/7 telehealth service</li><li>Diminishing deductible </li></ul><h3>Cons</h3><ul><li>No standalone accident-only plan</li><li>Terms and conditions vary by underwriter</li><li>6-month waiting period for cruciate ligament problems applies in some states</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Plan options</dt><dd>Accident and illness</dd></dl><dl><dt>Annual payout limit</dt><dd>$1,000 to $25,000</dd></dl><dl><dt>Reimbursement rates</dt><dd>$50, 65%, 70%, 80%, 90%</dd></dl><dl><dt>Annual deductible</dt><dd>$0 to $2,500</dd></dl><dl><dt>Waiting periods</dt><dd>Same-day coverage for accidents, 14 days for illnesses, 6 months for orthopedic conditions</dd></dl><dl><dt>Discounts</dt><dd>Multi-pet discount and diminishing deductible</dd></dl><hr><p><strong>Why we chose Metlife:</strong> With <a href="https://money.com/pr/ka037ca832a4?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-pet-insurance%252F">MetLife</a>, pet owners with multiple pets don’t have to stress about meeting a separate deductible for each animal. Policyholders can enroll up to three animals under one plan and each eligible vet visit contributes towards the same deductible. Once the deductible is met, every pet is eligible for coverage for the remainder of the year.</p><p>MetLife’s coverage terms are also much more flexible than those of other providers on the market. Pet owners can select a deductible between $0 and $2,500 and an annual limit between $1,000 and $25,000. However, MetLife enforces a six-month waiting period for cruciate ligament issues and other orthopedic conditions without the option to qualify for a waiver.</p><hr /><p><a href="https://secure.money.com/pr/f315c4d8c840?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=f315c4d8c840&type=image" /></a></p><hr><h3>Pros</h3><ul><li>No per-incident, annual or lifetime caps</li><li>Covers alternative therapy for diagnosed conditions</li><li>Direct payments available under certain conditions</li></ul><h3>Cons</h3><ul><li>Limited coverage for hip dysplasia</li><li>12-month waiting period for knee injuries</li><li>No coverage for behavioral issues or prescription food</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Plan options</dt><dd>Accident and illness, preventive care plan</dd></dl><dl><dt>Annual payout limit</dt><dd>$10K</dd></dl><dl><dt>Reimbursement rates</dt><dd>50% or 70%</dd></dl><dl><dt>Annual deductible</dt><dd>$250</dd></dl><dl><dt>Waiting periods</dt><dd>14 days for accidents and illnesses</dd></dl><dl><dt>Discounts</dt><dd>Multi-pet</dd></dl><hr><p><strong>Why we chose:</strong> <a href="https://money.com/pr/u5cb4bee0ab0?ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F"><span style="font-weight: 400">Nationwide</span></a><span style="font-weight: 400"> is the only pet insurance company of its size that offers insurance for avian and exotic pets.</span></p><p><span style="font-weight: 400">The Avian & Exotic Pet Plan covers most birds, rabbits, reptiles and small mammals, including goats and pot-bellied pigs. (Note that any animal not explicitly listed on the Nationwide website isn’t eligible, including those listed under venomous or endangered species.) Owners of exotic pets can select up to 90% reimbursement for covered accidents and illnesses and add preventive care riders as well. Just as with dog and cat insurance, pre-existing conditions are excluded from coverage.</span></p><p><span style="font-weight: 400">Cat and dog insurance is easy to get directly on Nationwide’s website. However, exotic pet owners must call (844-244-3691) to get a quote or sign up. Additionally, cat and dog owners have to wait 12 months to get coverage for cruciate ligament issues — double the time of similar waiting periods.</span></p><hr /><p><a href="https://secure.money.com/pr/r1dc06e4854c?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=r1dc06e4854c&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Coverage for prosthetic devices and wheelchairs</li><li>Wide range of deductibles</li><li>Covers pets as young as seven weeks with no upper age limit</li><li>Direct payments to vets available upon request</li></ul><h3>Cons</h3><ul><li>Slow claims processing</li><li>Excludes alternative therapy and behavioral modification</li><li>Policy upgrades are not available until the renewal date</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Plan options</dt><dd>Accident and illness, accident-only, wellness rider</dd></dl><dl><dt>Annual payout limit</dt><dd>$2.5K, $5K, $10K, unlimited</dd></dl><dl><dt>Reimbursement rates</dt><dd>70%, 80%, 90%</dd></dl><dl><dt>Annual deductible</dt><dd>$50, $100, $250, $500, $1K</dd></dl><dl><dt>Waiting periods</dt><dd>Varies by state. 0 to 3 days for accidents, 14 days for illnesses, 1 to 6 months for cruciate ligament conditions</dd></dl><dl><dt>Discounts</dt><dd>Multi-pet</dd></dl><hr><p><strong>Why we chose Pets Best:</strong> <a href="https://money.com/pr/ze8cbed378d2?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-pet-insurance%252F">Pets Best</a> has a wide range of coverage options and deductibles, and it offers pet insurance for cats and dogs as young as seven weeks. It’s also one of the few pet insurance companies that cover prosthetic devices and wheelchairs. Pets Best provides coverage for wheelchairs and prosthetic devices when prescribed by a veterinarian to treat a covered accident or illness.</p><p>A notable downside is that cruciate ligament conditions and any related complications are subject to a six-month waiting period. Pet owners can waive the accident and illness waiting period with a medical exam on the same day they purchase coverage, but this waiver doesn’t apply to cruciate ligament issues.</p><hr /><p><a href="https://secure.money.com/pr/s16928e48977?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=s16928e48977&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Preventive care packages for the particular needs of puppies and kittens</li><li>No upper age limit</li><li>Short (14-day) waiting period for all health conditions, including knee and hip dysplasia</li><li>Covers exam fees at no extra cost</li></ul><h3>Cons</h3><ul><li>No customizable reimbursement levels</li><li>No accident-only option</li><li>Preventive plan doesn't cover spay/neuter or dental cleanings</li><li>Most expensive option in our survey</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Plan options</dt><dd>Accident and illness, wellness rider</dd></dl><dl><dt>Annual payout limit</dt><dd>$10K, $20K, unlimited</dd></dl><dl><dt>Reimbursement rates</dt><dd>90%</dd></dl><dl><dt>Annual deductible</dt><dd>$100, $250, $500, $1K</dd></dl><dl><dt>Waiting periods</dt><dd>14 days for accidents and illnesses</dd></dl><dl><dt>Discounts</dt><dd>Multi-pet</dd></dl><hr><p><strong>Why we chose Pumpkin:</strong> <a href="https://money.com/pr/e1cc9829ac05?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-pet-insurance%252F">Pumpkin</a> offers extensive insurance and non-insurance preventive care options tailored to junior animals. Pumpkin’s puppy preventive care pack includes one annual wellness exam fee, four puppy vaccines and one yearly fecal test. It will also refund the cost of up to four vaccines your puppy may have received prior to being insured under the preventive pack, as well as cover lab tests for parasites.</p><p>Pumpkin offers comprehensive accident and illness coverage with some standout benefits: microchip implantation, stem cell therapy and a pet poison control consultation fee. Pet owners are free to call the ASPCA Poison Control Center or the Pet Poison Helpline (and maybe save themselves a trip to the emergency room) without worrying about paying $85-$95 for the phone call.</p><p>Pumpkin charges some of the highest premiums out of all the companies we surveyed. And customers can’t customize the reimbursement rate in order to find a rate that suits their budget.</p><hr /><p><a href="https://secure.money.com/pr/abe19974de10?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=abe19974de10&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Unlimited annual coverage available</li><li>No upper age limit</li><li>24/7 telehealth helpline</li><li>Pet owners have 270 days (around eight months) to file a claim</li></ul><h3>Cons</h3><ul><li>Higher-than-average premiums for young pets</li><li>Charges transaction fees for monthly, quarterly or semi-annual payments</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Plan options</dt><dd>Accident and illness, accident-only, wellness rider</dd></dl><dl><dt>Annual payout limit</dt><dd>$2.5K, $3K, $5K, $7K, $10K or unlimited</dd></dl><dl><dt>Reimbursement rates</dt><dd>70%, 80% or 90%</dd></dl><dl><dt>Annual deductible</dt><dd>$100, $250, $500, $750 or $1K</dd></dl><dl><dt>Waiting periods</dt><dd>14 days for accidents and illnesses</dd></dl><dl><dt>Discounts</dt><dd>10% employee, 10% multi-pet</dd></dl><hr><p><b>Why we chose S</b><strong>pot</strong><span style="font-weight: 400"><strong>:</strong> We picked</span><a href="https://money.com/pr/b305b163f3f4?ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F"><span style="font-weight: 400"> Spot</span></a><span style="font-weight: 400"> as the best for unlimited coverage because it caters to pet parents who want to maximize their pet’s coverage, no matter the cost. Spot is also a fine choice for older pets since there’s no age limit for coverage.</span></p><p><span style="font-weight: 400">Spot’s full (100%) coverage option allows you to maximize your pet’s coverage, meaning you are not responsible for any co-payment. In addition, the company offers a very low ($100) deductible option, which further reduces your out-of-pocket payments for care. That said, choosing one or both of a low co-payment and a low deductible will lead to higher premiums for the policy.</span></p><p><span style="font-weight: 400">That said, unlimited annual coverage comes at a high cost and Spot’s prices are already higher than the norm for young pets.</span></p><hr /><h3>Other companies we considered</h3><p>Our pet insurance comparison table includes our top picks as well as other insurance agencies that stood out in some respects but didn’t quite match the strengths of our top picks.</p><h4>Healthy Paws</h4><p><strong>Why it didn’t make the cut:</strong> <a href="https://secure.money.com/pr/u997d41f37ea?ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F">Healthy Paws</a> offers a comprehensive accident and illness plan with unlimited payout limits and 90% reimbursement. However, two factors kept the company out of our top picks: 1) There is no coverage for hip dysplasia for pets enrolled after age six, and 2) the company doesn’t distinguish between curable and incurable pre-existing conditions.</p><p>Read <a href="https://money.com/healthy-paws-pet-insurance-review/">Healthy Paws Pet Insurance</a> full review</p><h4>ASPCA</h4><p><strong>Why it didn’t make the cut:</strong> Both <a href="https://secure.money.com/pr/c71993364763?ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F">ASPCA</a> and Spot provide identical insurance policies. Ultimately, Spot made it to our top picks due to its unlimited annual payout feature, which is not available with ASPCA, and its 24/7 pet telehealth helpline.</p><p>Read <a href="https://money.com/aspca-pet-insurance-review/">ASPCA Pet Insurance</a> full review</p><h4>Fetch by The Dodo</h4><p><strong>Why it didn’t make the cut:</strong> Although <a href="https://secure.money.com/branded/splash?ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&apnavid=187ef3cdff9828dcc7dcdec2b2c3e41d&company_alias=fetch-pet-insurance-review&pcuid=i00eee598364&redirect_to_top=1&skip_dynamic_offer=true&vertical_alias=pet-insurance&zip=20108">Fetch</a> has a 15-day waiting period for most illnesses and injuries, it has a six-month waiting period for hip and knee injuries. The extended waiting period can be waived for knee conditions if there is a veterinary exam within the first 30 days, but the waiver does not apply to hip-related injuries. Additionally, the company doesn’t sell preventative or wellness coverage.</p><p>Read <a href="https://money.com/fetch-pet-insurance/">Fetch Pet Insurance</a> full review</p><h4>Many Pets</h4><p><strong>Why it didn’t make the cut:</strong> <a href="https://secure.money.com/pr/b87a10da5708?ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F">Many Pets’</a> accident and illness coverage isn’t available in all states and it has more restrictions than other leading companies. For example, pets older than 14 years are not eligible for coverage, and the company won’t cover treatments for hip dysplasia in pets that were enrolled after the age of six.</p><p>Read <a href="https://money.com/manypets-pet-insurance-review/">Many Pets Pet Insurance</a> full review</p><hr /><p><a href="https://secure.money.com/pr/p929b7beaf62?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=p929b7beaf62&type=image" /></a></p><h2>What You Need To Know About Pet Insurance</h2><p>Pet insurance might seem similar to our own health insurance but there are key differences to keep in mind. In this section, we explain the ins and outs of pet insurance policies so you know what to expect in terms of coverage, cost and claims.</p><h3>What does pet insurance cover?</h3><p>Pet insurance covers diagnostic tests, hospitalization, surgery, prescription medication and long-term treatment for accidents and chronic conditions such as allergies or diabetes. Most policies also cover medically necessary physical and <a href="https://money.com/dog-therapy-and-pet-insurance/">behavioral therapy</a>.</p><p>As with most insurance policies, there are exclusions. Pet insurance doesn’t cover routine care, pre-existing conditions or injuries due to owner negligence.</p><p>Check out our<a href="https://money.com/what-pet-insurance-covers/"> pet insurance coverage guide</a> for more information.</p><h3>How does pet insurance work?</h3><p>Pet insurance has no network restrictions, so you can take your pet to any licensed specialist. Coverage begins after you’ve met the policy’s deductible and after a waiting period of one to 14 days (the exact number depends on whether the issue is an accident or illness).</p><p>Once you meet the deductible, you’ll pay the vet bill and file for reimbursement — unless your insurer offers direct payments to vets. Most insurers cover 70% to 90% of the bill, leaving you to pay the remaining amount. Annual reimbursement limits apply and reset each year upon renewal.</p><p>While insurance premiums don’t increase after a claim, they can rise by 20% to 30% annually based on your pet’s age and veterinary costs in your area.</p><h3>Types of pet insurance</h3><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col width="26%" /><col width="26%" /><col width="26%" /></colgroup><thead><tr><th><p style="text-align: left"><strong>Accident & illness policy</strong></p></th><th><p style="text-align: left"><strong>Accident coverage</strong></p></th><th><p style="text-align: left"><strong>Wellness riders</strong></p></th></tr></thead><tbody><tr><td align="center"><p style="text-align: left">Covers diagnosis, surgery, hospitalization, treatment and medications for any covered accident or illness.</p></td><td align="center"><p style="text-align: left">Pays only for the treatment of sudden accidents or injuries (e.g., poisonings, broken bones or bloating). </p></td><td align="center"><p style="text-align: left">Reimburses policyholders for services such as vaccinations, microchipping, dental cleanings and heartworm prevention.</p></td></tr></tbody></table><hr><h3>How much is pet insurance?</h3><p>According to NAPHIA’s<a href="https://naphia.org/industry-data/"> 2025 State of the Industry Report</a>, the average cost of pet insurance for cats is $29 a month while dog insurance plans cost about $49 a month. In our sample of providers, the cheapest pet insurance quotes for a young pet were $15 per month for cats and $40 for dogs.</p><p>The price jumped to prohibitive amounts for a 10-year-old dog. The cheapest rate was $139 a month.</p><p>If you’re on a tight budget, check out our reviews of the<a href="https://money.com/best-cheap-pet-insurance/"> best cheap pet insurance</a>.</p><h3>Factors that affect your pet insurance costs:</h3><ul><li><strong>Type of policy:</strong> Accident and illness policies cost more than wellness plans or accident-only policies.</li><li><strong>Type of animal:</strong> Dog insurance costs twice as much as cat insurance.</li><li><strong>Pet’s age:</strong> Premiums increase with age.</li><li><strong>Pet’s breed:</strong> It costs more to insure purebreds prone to congenital or hereditary conditions than to insure mixed-breed dogs.</li><li><strong>Pet’s size:</strong> Insuring larger dogs or cats will cost more than insuring small or toy-sized animals. However, smaller breeds tend to live longer, so you’ll pay more over their lifetime.</li><li><strong>Where you live:</strong> Pet insurance costs more in states with expensive vet costs, like California and New York.</li></ul><h3>Additional out-of-pocket expenses</h3><p>The cost of pet insurance is not limited to premium payments. Unless you purchase a policy with 100% reimbursement, unlimited payouts and no deductibles, you’ll have to cover some expenses yourself.</p><ul><li><strong>Exam or office fees:</strong> Veterinarians and<a href="https://money.com/how-much-is-an-emergency-vet-visit/"> emergency vet care</a> clinics charge an exam fee that’s separate from diagnostic or treatment costs. Most insurers exclude this fee from coverage, which then amounts to a hidden deductible of $30 to $100 for each visit.</li><li><strong>Deductible:</strong> You’ll need to meet the policy’s deductible before the insurance company starts reimbursing you. It might take a few vet visits to reach the dollar amount, especially if you set a high deductible.</li><li><strong>Copay:</strong> Plans typically pay 70% to 90% of eligible veterinary services. The remaining 30% to 10% comes out of your own wallet.</li><li><strong>Payout caps:</strong> Pet insurance will not pay once you reach the policy’s maximum coverage amount for the year. Some insurers also set lower coverage caps for behavioral modification, dental care and end-of-life expenses.</li></ul><h3>Is pet insurance worth it?</h3><p>Some pet owners might regret spending thousands on insurance if their pet stays healthy, thinking a credit card or savings account might have been more cost-effective. However, for pets facing health issues, insurance can be vital. Dr. Karen Halligan, host of Collars and Cents, points out that advanced treatments like “$35,000 stem cell transplants or open-heart surgery” are now possible, and “the big difference is the insurance.”</p><p>Pet insurance can offer some peace of mind amid<a href="https://money.com/why-are-vet-bills-so-expensive/"> rising vet care costs</a>. Dr. Lindsey Butzer of Clint Moore Animal Hospital highlights that financial limitations often lead to euthanasia or delays in treatment: “People won’t pay for their dog over their groceries,” she says.</p><h3>How to choose the best pet insurance plan</h3><p>Follow these steps to find the best policy for your pet:</p><h4><strong>Decide between an accident-only or accident and illness policy: </strong></h4><p>An accident and illness plan may be worth it if you’re enrolling a young and healthy pet. (This is the only way to avoid exclusions for<a href="https://money.com/pet-insurance-for-pre-existing-conditions/"> pre-existing conditions</a>). Accident-only plans, on the other hand, are suitable for budget-conscious pet owners who want a safety net for serious accidents.</p><h4><strong>Study the policy’s coverage</strong></h4><p>In general, every pet insurance policy covers diagnostics, surgery, medication, and treatment. However, there can be differences in the fine print. For instance, some insurers cover dental injuries and illnesses while others only cover the cost to extract a tooth after an accident.</p><p>The best pet insurance policies also cover exam fees, behavioral therapy, and prescription medications. Some may even pay vets directly. It’s also a good idea to look into the policy’s dental care coverage. Be sure to ask about coverage for periodontal disease, age limits for congenital dental problems, and whether all teeth are covered.</p><h4><strong>Compare waiting periods</strong></h4><p>Most pet insurance companies make you wait 14 days before you can file a claim. If you want fast coverage, look for companies that offer shorter waiting periods for accidents of one to three days.</p><p>Orthopedic waiting periods are another factor to consider. Pet owners typically have to wait six to 12 months for joint injuries and hip dysplasia coverage. If your pet’s breed is prone to these issues (which can develop in puppyhood), it’s important to enroll them as young as possible.</p><h4><strong>Select the policy’s terms</strong></h4><p>Most providers let you choose your policy’s reimbursement rate, deductible and annual coverage limit. Reimbursement rates range from 70% to 100%, covering that portion of the bill.</p><p>Annual limits can range from as low as $5,000 to unlimited, with higher limits costing more.</p><h4><strong>Compare pet insurance quotes</strong></h4><p>You’d be surprised at how much prices can vary between insurance companies; some insurers quote double the price of others for similar coverage. Pet insurance comparison sites like Petted Insurance, Pawlicy Advisor or Pet Insurer can help you find the best deal.</p><p>Check out our guide on<a href="https://money.com/how-to-buy-pet-insurance/"> how to buy pet insurance</a> for more information.</p><h2>How to save on pet insurance</h2><p>When it comes to premiums, there’s not much you can do about your zip code, your pet’s breed or age but you can tweak coverage levels to fit your budget:</p><ul><li><strong>Payout caps:</strong> Higher coverage limits translate to higher premiums. To pick the right payout cap, check the average cost of treatment in your area for breed-specific illnesses and common injuries.</li><li><strong>Reimbursement percentage:</strong> A low reimbursement percentage means you’ll pay less in premiums. However, this also means you’ll have a higher copayment.</li><li><strong>Deductibles:</strong> The higher the deductible, the lower your premium.<a href="https://money.com/choosing-a-pet-insurance-deductible/"> Choosing a higher deductible can save you money</a> if your pet remains healthy. However, if your pet suddenly becomes ill or injured, you’ll have to pay more out of pocket before your insurance starts covering costs.</li></ul><div></div><h2>Methodology</h2><p>To identify the best pet insurance companies of 2025, we reviewed 19 companies across 50 data points, which can be summarized as follows:</p><ul><li><strong>Basic coverage:</strong> Our top picks cover<a href="https://money.com/pet-exam-fees-sponsored-fetch/"> exam fees</a>, diagnostic testing, treatment, surgery, medications and hospitalizations for accidents and illnesses. We skipped companies that didn’t cover curable pre-existing conditions, as this would mean that one-time ailments such as respiratory infections or a stomach bug could potentially be excluded.</li><li><strong>Extra benefits:</strong> Not all providers cover alternative therapies, behavioral modification, telehealth services or offer 24/7 vet support. We also took note of providers that offer coverage for non-health-related issues, such as advertising for lost or stolen pets and pet boarding in the event the owner falls ill.</li><li><strong>Limitations and exclusions:</strong> We reviewed the provider’s upper age limits and cut-off points for coverage. Many accept pets regardless of age, some issue only accident-only policies after the pet reaches a certain age and others deny coverage if the pet is too old. We also identified any additional lifetime or per-incident payout limits that could increase a buyer’s out-of-pocket expenses.</li><li><strong>Affordability:</strong> We gathered sample quotes using the pet profiles of a one-year-old Labrador Retriever and a one-year-old domestic shorthair cat from Mami, Florida. With that data, we identified which insurers offer the best rates for similar coverage.</li><li><strong>Availability:</strong> Most pet insurance providers are licensed to sell policies in all 50 states. And once you have a policy, you can typically visit any licensed veterinarian in the U.S., Canada and any U.S. military base overseas. We excluded companies that issued policies with limited membership and insurers that resell policies from other providers.</li><li><strong>Customizability:</strong> Multiple deductible, payout, and reimbursement options allow policyholders to tweak the coverage details to get a premium within their budget. Most providers allow this flexibility.</li><li><strong>Ease of use:</strong> Most pet insurance companies do well in this regard, featuring streamlined quote tools, well-designed websites and mobile apps.</li></ul><h2>Latest News in Pet Insurance</h2><p>Last April, Florida Gov. Ron DeSantis signed House Bill 655 into law, a measure to regulate the pet insurance industry. The 15-page document targets deceptive practices such as advertising pet wellness plans as insurance and failing to disclose whether chronic and pre-existing conditions are covered.</p><p>Pet insurance has gotten so expensive that pet owners are considering cancelling their policies and going without coverage. If it were any other type of insurance, they could shop around and switch companies but pre-existing condition clauses make it so that pet owners can’t switch provider without losing coverage.</p><p>The price hike is mainly attributed to inflation and the increasing cost of veterinary care. Some insurers are also backing out of the industry. Just last year, Nationwide pet insurance abruptly cancelled coverage for about 100,000 pets because the policies weren’t profitable anymore. The insurer is now subject to a <a href="https://insurancenewsnet.com/oarticle/nationwide-sued-over-dropping-pet-insurance-coverage-in-potential-class-action-case">class action lawsuit</a> that alleges Nationwide falsely promised consumers it wouldn’t cancel coverage due to a pet’s age or medical condition.</p><hr /><hr><h2>Pet Insurance FAQ</h2><h3>How much is a vet visit?</h3><p>Without insurance, a routine veterinary visit for a cat or dog may range from $50 to $300. Emergency visits can be significantly more expensive, depending on the severity of the situation and required care. Addressing specific health issues also incurs higher costs.</p><p>For example, according to Healthy Paws's 2024 Cost of Veterinary Care report, skin conditions were the most common insurance claim for dogs, with bills averaging $200 to $2,500. Similarly, gastritis was the most common condition in cats, with reimbursement claims ranging from $1,500 to $1,800.</p><h3>What is the best pet insurance?</h3><p>The ideal policy will depend on a combination of different elements, mainly your budget and your pet's needs. Our roundup of the <a href="#bestpet">best pet insurance</a> providers includes reputable companies such as Spot, Pumpkin, AKC, Figo, Embrace, Pets Best, Lemonade and Nationwide.</p><h3>What is the best pet insurance for dogs?</h3><p>The best pet insurance for dogs (much like pet health insurance for cats) covers the veterinary services your pet will need if they get seriously sick or injured. This includes surgeries, hospitalization, diagnostics, treatment and medication. The best insurers also offer exam fee and wellness coverage, and most cover alternative therapies and <a href="https://money.com/dog-therapy-and-pet-insurance/">behavioral modification</a> at no extra cost.</p><p>Get a quote from any of our top picks -- <a href="#spot">Spot</a>, <a href="#akc">AKC</a>, <a href="#lemonade">Lemonade</a><br />, <a href="#embrace">Embrace</a>, <a href="#petsbest">Pets Best</a>, <a href="#figo">Figo</a> and <a href="#pumpkin">Pumpkin</a> -- to see which of their dog pet insurance plans is the best for your pup.</p><h3>How does pet insurance know about pre-existing conditions?</h3><p>Pet insurance companies identify pre-existing conditions by reviewing your pet's healthcare records or requesting a nose-to-tail medical exam before enrollment. To gather your pet's medical records, the company might request the contact information of every shelter or veterinarian that has treated your pet in the past.</p><h3>What is a good annual limit for pet insurance?</h3><p>In most cases, $5,000 to $10,000 is more than enough to cover yearly veterinary expenses. However, some treatments, such as cancer treatment or hip replacement surgery, can be very costly. A limit of $10,000 may not be enough, depending on your location and your pet's breed. Assess your pet's susceptibility to certain conditions to choose the appropriate limit. You can also research local treatment costs to make an informed decision.</p><hr><h2>Summary of Money’s Best Pet Insurance Companies of July 2025</h2><ul><li><a href="#akc">AKC</a> – Best for Pre-Existing Conditions</li><li><a href="#embrace">Embrace</a> – Best for Healthy Pet Discount</li><li><a href="#figo">Figo</a> – Best for Reimbursement Options</li><li><a href="#lemonade">Lemonade</a> – Best for Fast Claims Processing</li><li><a href="#metlife">MetLife</a> – Best for Multiple Pets</li><li><a href="#nationwide">Nationwide</a> – Best for Exotic Pets</li><li><a href="#petsbest">Pets Best</a> – Best for Treatment of Mobility Issues</li><li><a href="#pumpkin">Pumpkin</a> – Best for Puppies and Kittens</li><li><a href="#spot">Spot</a> – Best for Unlimited Coverage</li></ul>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5985478</post-id> <media:thumbnail url="https://img.money.com/2023/12/Best-Pet-Insurance-mbci_axcy3__ygi54x.jpg?quality=85" /> <media:content url="https://img.money.com/2023/12/Best-Pet-Insurance-mbci_axcy3__ygi54x.jpg?quality=85" medium="image"> <media:title type="html">Best-Pet-Insurance</media:title> </media:content> </item> <item> <title>8 Best Crypto Wallets of July 2025</title> <link>https://money.com/best-crypto-wallets/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Tue, 01 Jul 2025 18:09:44 +0000</pubDate> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5984490</guid> <description><![CDATA[Blockchain technology has made digital currency transactions increasingly accessible. However, as the number of crypto traders has gone up, so have the rates of theft and fraud related to cryptocurrencies. That’s why it’s important to understand how crypto works, how it’s stored and what to look for in a crypto wallet — whether it’s digital…]]></description> <content:encoded><![CDATA[<p><a href="https://secure.money.com/pr/h7197acf5b04?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=h7197acf5b04&type=image" /></a></p><p>Blockchain technology has made digital currency transactions increasingly accessible. However, as the number of crypto traders has gone up, so have the rates of theft and fraud related to cryptocurrencies. That’s why it’s important to understand how crypto works, how it’s stored and what to look for in a crypto wallet — whether it’s digital or physical.</p><h2>What to know about crypto wallets</h2><ul><li>Crypto wallets are necessary to hold cryptocurrencies. They come in two versions: hot, which is available as software or web-based apps, and cold, most of which are physical devices.</li><li>The best hot wallets are highly secure and easy to use on desktop and mobile devices, whereas the best cold wallets should be of a convenient size and competitively priced.</li><li>Traders who are serious about crypto should opt for a non-custodial crypto wallet, which means you will have direct access to your crypto — and unfettered ownership thereof.</li><li>Many crypto wallets allow you to swap assets within their app or device by connecting to a crypto exchange.</li></ul><p><em>Some people searching for crypto wallets are actually looking for a crypto exchange. If you’re more interested in learning where to buy and sell cryptocurrency without a crypto wallet — as well as the difference between centralized and decentralized exchanges — read our piece on the <a href="https://money.com/best-crypto-exchanges/">Best Crypto Exchanges</a>.</em></p><h2>How we chose our top picks</h2><p>Our team of writers and editors has spent years researching crypto wallets. After reaching out to experts and gathering information from authoritative sources, we identified over 30 key data points for evaluating crypto wallets, including security ratings and audits, Web3 compatibility, crypto staking options and supported coins.</p><p>Read our <a href="https://money.com/best-crypto-wallets/#methodology">full methodology</a> to learn more.</p><h2>Our top picks for the best crypto wallets</h2><ul><li><a href="https://money.com/best-crypto-wallets/#exodus">Exodus</a> – Best Crypto Wallet Overall</li><li><a href="https://money.com/best-crypto-wallets/#zengo">Zengo</a> – Best Crypto Wallet for Beginners</li><li><a href="https://money.com/best-crypto-wallets/#sparrow">Sparrow</a> – Best Crypto Wallet for Bitcoin</li><li><a href="https://money.com/best-crypto-wallets/#bluewallet">BlueWallet</a> – Best Mobile Bitcoin Wallet</li><li><a href="https://money.com/best-crypto-wallets/#trustwallet">Trust Wallet</a> – Best Mobile Crypto Wallet</li><li><a href="https://money.com/best-crypto-wallets/#metamask">MetaMask</a> – Best Web3 Wallet</li><li><a href="https://money.com/best-crypto-wallets/#trezor">Trezor Model One</a> – Best Entry-Level Hardware Wallet</li><li><a href="https://money.com/best-crypto-wallets/#ledger">Ledger Nano Flex</a> – Best High-End Hardware Wallet</li></ul><p><a href="https://secure.money.com/pr/eb093258d9a0?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=eb093258d9a0&type=image" /></a></p><p><a href="https://secure.money.com/pr/h879957819e5?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=h879957819e5&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Supports assets across 50+ blockchain networks</li><li>Native integration with Trezor hardware wallets</li><li>Allows swapping crypto directly in the app</li><li>High security marks across the board</li></ul><h3>Cons</h3><ul><li>No control over exact transaction fees</li><li>Lacks third-party audits</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Platform(s)</dt><dd>Android, Brave, Chrome, iOS, Linux, Mac, Windows</dd></dl><dl><dt>CER Security Rating</dt><dd>AAA</dd></dl><dl><dt>CertiK Skynet Score</dt><dd>85.05 (A)</dd></dl><hr><p><strong>Why we chose it: </strong><a href="https://money.com/pr/t9a30fa7d700?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-crypto-wallets%252F">Exodus</a> is an excellent option for a variety of investors — particularly for those managing diverse portfolios — thanks to its broad asset support, thousands of trading pairs and built-in crypto swapping. The wallet’s ease of use across platforms and consistently high marks for security add to this, making it a reliable choice regardless of your goals.</p><p>Learn more by reading our full <a href="https://money.com/exodus-crypto-wallet-review/">Exodus</a> review.</p><p><a href="https://secure.money.com/pr/xdf4ac786ad6?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=xdf4ac786ad6&type=image" /></a></p><hr><h3>Pros</h3><ul><li>No seed phrases or private keys</li><li>Round-the-clock customer support</li><li>Intuitive, user-friendly interface</li><li>Straightforward setup process</li></ul><h3>Cons</h3><ul><li>Low number of supported crypto networks</li><li>High fees on in-app exchange</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Platform(s)</dt><dd>Android, iOS, Linux, Mac, Windows</dd></dl><dl><dt>CER Security Rating</dt><dd>AAA</dd></dl><dl><dt>CertiK Skynet Score</dt><dd>84.44 (A)</dd></dl><hr><p><strong>Why we chose it:</strong> <a href="https://money.com/pr/f858bf72df27?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-crypto-wallets%252F">Zengo</a> removes much of the complexity that typically comes with crypto wallets by eliminating complex seed phrases and private keys, replacing them with multi-party computational (MPC) cryptography, a keyless security model. The platform’s appealing design further adds to its beginner-friendly appeal, as does its 24/7 live customer support and streamlined setup process, which help quickly onboard new users.</p><p>Learn more by reading our full <a href="https://money.com/zengo-crypto-wallet-review/">Zengo</a> wallet review.</p><p><a href="https://secure.money.com/pr/j12c7a24287a?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=j12c7a24287a&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Lightweight, multi-platform desktop wallet</li><li>Support for all common hardware wallets</li><li>Comprehensive transaction editor</li><li>Several server connection options</li></ul><h3>Cons</h3><ul><li>Requires understanding of bitcoin fundamentals </li><li>No native token swaps or fiat onramps</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Platform(s)</dt><dd>Linux, Mac, Windows</dd></dl><dl><dt>CER Security Rating</dt><dd>Not applicable</dd></dl><dl><dt>CertiK Skynet Score</dt><dd>Not applicable</dd></dl><hr><p><strong>Why we chose it:</strong> <a href="https://secure.money.com/pr/p10e5ab1a8e6?data-trk-company=sparrow-crypto-wallet-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=p10e5ab1a8e6&encoded_id={{encoded_id}}">Sparrow</a> offers complete control over your bitcoin and trading fees, letting you choose between public, private or Bitcoin Core servers for trades. It also comes with a transaction editor that functions as a blockchain explorer and has reduced storage requirements due to its light client. Lastly, the wallet supports the Lightning Network — a payment protocol built on bitcoin that enables faster transactions.</p><p><a href="https://secure.money.com/pr/p494b8675335?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=p494b8675335&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Modern design with an accessible user interface</li><li>Lightning, multi-signature, watch-only and HD wallets</li><li>Push notification service for bitcoin wallets</li><li>Wide variety of transaction options</li></ul><h3>Cons</h3><ul><li>Lack of educational resources</li><li>Highly technical features</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Platform(s)</dt><dd>Android, iOS, Mac</dd></dl><dl><dt>CER Security Rating</dt><dd>Not applicable</dd></dl><dl><dt>CertiK Skynet Score</dt><dd>Not applicable</dd></dl><hr><p><strong>Why we chose it:</strong> <a href="https://money.com/pr/d522e30963f1?ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F">BlueWallet</a> brings a number of advanced trading features to mobile wallets with a highly intuitive interface that is easy to navigate and makes managing your bitcoin much less demanding. Said features include Lightning Network wallets for faster, cheaper trades; batch, broadcast and partially signed transactions; and push notifications to keep users updated on their wallets’ activity.</p><p>Learn more by reading our full <a href="https://money.com/bluewallet-crypto-wallet-review/">BlueWallet</a> review.</p><p><a href="https://secure.money.com/pr/jcfe951dccca?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=jcfe951dccca&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Native NFT viewing for Ethereum and BNB Chain NFTs</li><li>Designed for mobile with a simple, clean interface</li><li>One of the largest number of supported coins</li><li>Swap tokens directly inside the wallet</li></ul><h3>Cons</h3><ul><li>Limited customization for gas fees</li><li>No live customer support</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Platform(s)</dt><dd>Android, Brave, Chrome, Edge, iOS, Opera</dd></dl><dl><dt>CER Security Rating</dt><dd>AAA</dd></dl><dl><dt>CertiK Skynet Score</dt><dd>91.12 (AA)</dd></dl><hr><p><strong>Why we chose it:</strong> <a href="https://money.com/pr/s871bd43cc71?ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F">Trust Wallet</a> is an excellent generalist wallet for mobile users, boasting extensive support for NFTs and other Web3 projects. It receives high scores on security assessment platforms and features the highest number of supported assets and chains of any wallet on our list. It’s also one of the easiest wallets to use on mobile thanks to its in-app token swaps and accessible interface.</p><p>Learn more by reading our full <a href="https://money.com/trust-wallet-crypto-wallet-review/">Trust Wallet</a> review.</p><div class="v-group panel panel-default"><div class="panel-body"><div class="v-row"><div class="form-group embed-group"><div id="embed-code-description" class="embed-code-description"><a href="https://secure.money.com/pr/q137ec08d57a?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=q137ec08d57a&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Works seamlessly with thousands of dApps</li><li>Additional functionality through third-party plugins</li><li>Frequent updates and security patches</li><li>99.99% transaction success rate</li></ul><h3>Cons</h3><ul><li>No native bitcoin or Solana support</li><li>Complex network configuration</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Platform(s)</dt><dd>Android, Brave, Chrome, Edge, iOS, Opera, web</dd></dl><dl><dt>CER Security Rating</dt><dd>AA-AAA</dd></dl><dl><dt>CertiK Skynet Score</dt><dd>89.44 (AA)</dd></dl><hr><p><strong>Why we chose it:</strong> <a href="https://secure.money.com/pr/qb23e0b31c52?ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F">MetaMask</a> has become the go-to Web3 wallet thanks to its integration with nearly every decentralized finance (DeFi) app and NFT marketplace available today. It combines strong security measures — the wallet has some of the highest scores on our list — with customizable transaction settings, built-in token tracking and slippage controls. This makes it a favorite among both casual and advanced users.</p><p>Learn more by reading our full <a href="https://money.com/metamask-crypto-wallet-review/">MetaMask</a> review.</p><p><a href="https://secure.money.com/pr/qb1bc37563aa?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=qb1bc37563aa&type=image" /></a></p><hr><h3>Pros</h3><ul><li>On-device confirmation for all transactions</li><li>Entry access with passphrase and PIN</li><li>Open-source security and design</li><li>Affordable price point</li></ul><h3>Cons</h3><ul><li>No support for Cardano, Solana and others popular coins</li><li>Expensive guided tutorial</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Platform(s)</dt><dd>Android, iOS, Linux, Mac, Windows</dd></dl><dl><dt>Dimensions</dt><dd>2.4x1.2x0.2 inches</dd></dl><dl><dt>CER Security Rating</dt><dd>C</dd></dl><hr><p>*Security rating and platforms for the brand’s official app, <strong>Trezor Suite</strong>.</p><p><strong>Why we chose it:</strong> The <a href="https://money.com/pr/tb6249c32745?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-crypto-wallets%252F">Trezor</a> Model One was the first crypto wallet of its kind — a hardware device meant to safeguard your private keys instead of a software application. Released in 2014, it remains one of the most affordable options today at $49. The wallet may not have all the bells and whistles, but it doesn’t need them. Its hands-on transaction verification, PIN or passphrase entry and a small frame make the device a reliable entry point for new cold wallet users.</p><p>Learn more by reading our full <a href="https://money.com/trezor-crypto-wallet-review/">Trezor</a> wallet review.</p></div></div></div></div></div><p><span class="s1"><a href="https://secure.money.com/pr/y09e7d857bd9?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=y09e7d857bd9&type=image" /></a></span></p><hr><h3>Pros</h3><ul><li>Review and sign transactions from a single screen</li><li>E Ink(R) display for improved readability</li><li>Supports 5,500+ coins and tokens</li><li>CC EAL6+ secure element chip</li></ul><h3>Cons</h3><ul><li>More vulnerabilities due to added connectivity</li><li>Ledger Live required for full functionality</li><li>New and relatively untested</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Platform(s)</dt><dd>Android, iOS, Linux, Mac, Safari, Windows</dd></dl><dl><dt>Dimensions</dt><dd>3.07 x 2.22 x 0.33 inches</dd></dl><dl><dt>CER Security Rating</dt><dd>CCC</dd></dl><hr><p>*Security rating and platforms for the brand’s official app, <strong>Ledger Live</strong>.</p><p><strong>Why we chose it: </strong>The <a href="https://money.com/pr/sa58b80ad920?ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-crypto-wallets%2F">Ledger</a> Flex is full of features that enhance its usability and security. On top of a 2.84” touchscreen and its compact size, the wallet is equipped with a specialized, tamper-proof chip for storing private keys and signing transactions. The Flex can also seamlessly connect to other devices thanks to its near-field communication (NFC) chip, which keeps critical data such as private keys away from prying eyes.</p><p>Learn more by reading our full <a href="https://money.com/ledger-crypto-wallet-review/">Ledger</a> review.</p><h3>Other crypto wallets we considered</h3><h4><a href="https://secure.money.com/pr/p237c13dd753?data-trk-company=best-wallet-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=p237c13dd753&encoded_id={{encoded_id}}">Best Wallet</a></h4><p>Best Wallet offers a polished mobile interface and integrates easily with DeFi apps and NFT marketplaces. It also includes built-in portfolio tracking and token swaps, making it a convenient all-in-one solution. Other unique advantages include anonymity — users don’t need to provide identifiable information to open an account — and early access to partner token launches.</p><p><strong>Why it didn’t make the cut:</strong> Best Wallet is still relatively new and lacks the track record of older, more established wallets. However, if its extensive roadmap is anything to go off of, the wallet’s future is bright given the number of advanced features in the works.</p><h4><a href="https://secure.money.com/pr/n0707d011681">Coinbase Wallet</a></h4><p>Backed by one of the most trusted names in crypto, Coinbase Wallet supports a wide range of assets, dApps and NFTs. It boasts several security features, including transaction previews, biometrics and dApp blocklist, to name a few. The wallet’s educational content is another highlight; namely, its “Quests” section lets you earn crypto by learning new skills.</p><p><strong>Why it didn’t make the cut:</strong> Coinbase Wallet lacks the advanced customization and developer tools of other non-custodial wallets. Moreover, although it’s non-custodial, the wallet’s close ties to the centralized Coinbase platform might be a source of concern for some.</p><h4><a href="https://secure.money.com/pr/xbe730c0d1f0?data-trk-company=tangem-cryptocurrency&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=xbe730c0d1f0&encoded_id={{encoded_id}}">Tangem</a></h4><p>Tangem Wallet stands out due to its credit card-sized, NFC-powered hardware that doesn’t require a battery or cables. The wallet’s secure chip was assigned a EAL6+ certification (the same level of protection used in passports) and its firmware has passed two audits from the independent Swiss company Kudelski Security and the international security laboratory Riscure.</p><p><strong>Why it didn’t make the cut:</strong> While Tangem’s security model is innovative — storing the private key on a chip and using a mobile app for management — it might raise concerns for users who prioritize open-source verification or more traditional security layers. Tangem also supports fewer assets compared to other popular hardware wallets.</p><h2>What you need to know about crypto wallets</h2><p>Despite the name, cryptocurrency wallets (or simply crypto wallets) don’t actually store cryptocurrency. What they hold are the digital codes known as “keys” that grant access to your crypto on the blockchain, a type of ledger that functions as an online record of transactions.</p><p>When someone sends you cryptocurrency, they’re not transferring physical or digital coins to your wallet. Instead, they’re updating the blockchain to show that the ownership of a certain amount of crypto or of a tokenized asset has been assigned to your wallet’s address.</p><p>To find your address on a blockchain, your wallet relies on two key pieces of information:</p><ul><li>A <strong>public key</strong>, which is a string of letters and numbers automatically generated by the crypto wallet provider. For example, a public key could look like this: B1fpARq39i7L822ywJ55xgV614.</li><li>A <strong>private key</strong>, which is another string of numbers and letters, but one that only the owner of the wallet should know.</li></ul><p>It helps to think of crypto wallets as email accounts rather than containers for holding coins. To receive an email, you need to provide others with your email address. The equivalent of this would be your public key. However, you would never give someone the password to access your email account. For crypto wallets, that password is your private key, which under no circumstances should you ever share with another person.</p><p>Together, these keys allow you to send and receive crypto without compromising the integrity of the transaction. The public key is visible to others, while the private key proves your ownership. Once both are verified, the balance in your crypto wallet increases or decreases accordingly.</p><p>In short, a crypto wallet is your gateway to the blockchain — it identifies you, stores your access credentials and keeps your digital assets safe.</p><h3>Types of crypto wallet</h3><p>There are two types of crypto wallet: hot wallets and cold wallets. The former are always connected to the internet while the latter are kept offline. Some wallet brands operate under a hybrid model, offering both software and hardware solutions for crypto management.</p><figure class="image-wrapper no-caption"><img class="aligncenter wp-image-5792918 size-medium" src="https://img.money.com/2022/09/Best-Crypto-Wallets-Icons-1.png?resize=300,200" alt="" width="300" height="200" align="none" /></figure><h4>Hot wallets</h4><p>Hot wallets are digital tools whose connection to the internet cannot be severed. They allow users to access and manage their crypto via their phones, desktops or web browser of choice.</p><p>Their primary advantage is convenience: Public and private keys are stored and encrypted within the app or website, enabling users to access funds from anywhere with an internet connection, making them ideal for frequent traders or those spending crypto.</p><p>At the same time, this constant online connectivity also leaves hot wallets more vulnerable to cyberattacks, particularly through software exploits or malware, with web wallets hosted by exchanges being especially attractive targets for hackers.</p><figure class="image-wrapper no-caption"><img class="aligncenter wp-image-5792919 size-medium" src="https://img.money.com/2022/09/Best-Crypto-Wallets-Icons-2.png?resize=300,200" alt="" width="300" height="200" align="none" /></figure><h4>Cold wallets</h4><p>Cold wallets are deliberately designed to be hard to hack. They store your digital keys offline, either on hardware like a USB drive or in physical form such as on paper or engraved metal, offering a high level of protection from remote hacks.</p><p>Hardware wallets allow crypto transactions only when connected to a computer, while paper wallets use printed QR codes or written keys. Their offline nature makes them nearly impervious to cyberattacks — hackers would need physical access to the device and its password to steal funds.</p><p>However, this level of security comes at a risk: If the wallet or keys are lost and they haven’t been backed up, access to your crypto is likely gone forever. Hot wallets don’t face the same issue, since they often allow recovery through a seed phrase — a master key for your crypto wallet consisting of 12 to 24 randomly generated words.</p><h3>What to look for in a crypto wallet</h3><p>When looking for the best cryptocurrency wallet, it’s very important to first ask yourself:</p><figure class="image-wrapper no-caption"><img class="aligncenter wp-image-5792920 size-medium" src="https://img.money.com/2022/09/Best-Crypto-Wallets-Icons-3.png?resize=300,200" alt="" width="300" height="200" align="none" /></figure><ul><li><strong>How often do I trade?</strong> Are you going to buy and hold crypto indefinitely — HODL (“Hold on for Dear Life”), as crypto investors affectionately refer to this practice — or will you be trading frequently? Hot wallets are better for active traders due to their speed and practicality, while cold storage is recommended for holding your crypto in the long-term.</li></ul><figure class="image-wrapper no-caption"><img loading="lazy" class="aligncenter wp-image-5792921 size-medium" src="https://img.money.com/2022/09/Best-Crypto-Wallets-Icons-4.png?resize=300,200" alt="" width="300" height="200" align="none" /></figure><ul><li><strong>What do I want to trade?</strong> Are you looking to buy and store bitcoin, or are you interested in <a href="https://money.com/cryptocurrency-number-of-new-coins/">different types of cryptocurrency</a>, like altcoins and stablecoins? The crypto wallet you pick should support the currencies you wish to trade and will ideally accommodate any other coins you may want to trade in the future.</li></ul><figure class="image-wrapper no-caption"><img loading="lazy" class="aligncenter wp-image-5792922 size-medium" src="https://img.money.com/2022/09/Best-Crypto-Wallets-Icons-5.png?resize=300,200" alt="" width="300" height="200" align="none" /></figure><ul><li><strong>How much am I willing to spend?</strong> Are you planning on accumulating large amounts of crypto? Hardware wallets are ideal for this, but unlike hot wallets (most of which are free), they require an upfront payment to own the wallet itself. Some hot wallets have higher <a href="https://money.com/cryptocurrency-trading-fees-avoid/">crypto trading fees</a> but offer faster transactions or greater functionality.</li></ul><figure class="image-wrapper no-caption"><img loading="lazy" class="aligncenter wp-image-5792923 size-medium" src="https://img.money.com/2022/09/Best-Crypto-Wallets-Icons-6.png?resize=300,200" alt="" width="300" height="200" align="none" /></figure><ul><li><strong>What do I need in a wallet?</strong> Do you plan on doing anything specific with crypto beyond buying, selling or trading it? For example, traders who want to make passive income with their crypto can look for wallets that allow crypto lending or staking.</li></ul><h3>Investing in crypto prudently</h3><p>Cryptocurrencies have been around for a while now, but they are still a relatively new financial vehicle. They are an exciting asset class for many; the idea of a decentralized currency independent of the banking industry is enticing. Wild price swings can be a thrill, and some coins are simply amusing.</p><p>Consider the story of <a href="https://money.com/what-is-dogecoin/">Dogecoin</a>. A portmanteau of bitcoin and internet meme Doge, the currency was a hit on social forum platform Reddit and quickly generated a market value of $8 million. DOGE hit an all-time high of more than $90 billion after Tesla CEO Elon Musk and Reddit users involved in the GameStop short squeeze turned their attention to it.</p><p>For a more sobering example, take a look at Hawk Tuah. Created by a team of crypto people and Haliey Welch, the woman who popularized the phrase over the summer of 2024, HAWK surged to a $490 million market cap before crashing just as quickly. It lost 90% of its value in just a few hours — a textbook <a href="https://money.com/new-crypto-pump-and-dump-schemes/">pump and dump scam</a>.</p><p>It’s not just memecoins like DOGE and HAWK, though: bitcoin, the grandparent of all crypto, has experienced multiple crashes throughout its lifespan. The fact remains that cryptocurrencies are unpredictable, highly volatile assets and should be traded with caution. It’s important to consider the following dangers when asking yourself if you should invest in crypto:</p><figure class="image-wrapper no-caption"><img loading="lazy" class="aligncenter wp-image-5792924 size-medium" src="https://img.money.com/2022/09/Best-Crypto-Wallets-Icons-7.png?resize=300,200" alt="" width="300" height="200" align="none" /></figure><p><strong>Crypto is volatile.</strong> A cursory glance at the <a href="https://www.coindesk.com/price/bitcoin/">historical price of Bitcoin</a> is enough to see massive peaks and troughs throughout its lifespan. The same goes for any other major cryptocurrency. These dramatic swings in price are not normal compared to the pace at which most mainstream assets — like stocks, exchange-traded funds (EFTs) and other types of equities — move in value.</p><figure class="image-wrapper no-caption"><img loading="lazy" class="aligncenter wp-image-5792925 size-medium" src="https://img.money.com/2022/09/Best-Crypto-Wallets-Icons-8.png?w=300" alt="" width="300" height="200" align="none" /></figure><p><strong>Crypto isn’t backed by anything. </strong>Most coins do not have an underlying resource, such as gold, silver or other metals, that is used to benchmark their value. They’re not backed by the government like Treasurys, nor do they track the growth potential of companies the way stocks and ETFs do.</p><p>Cryptocurrencies are also speculative assets, which are riskier due to their inherently large fluctuations in price. Many active traders invest in them with the hope of making a big profit after their value dramatically increases in the near future — hopefully before a price crash occurs.</p><figure class="image-wrapper no-caption"><img class="size-medium wp-image-5792917 aligncenter" src="https://img.money.com/2022/09/Best-Crypto-Wallets-Icons-9.png?w=300" alt="" width="300" align="none" /></figure><p><strong>Crypto is unregulated. </strong>Governments and institutions worldwide are still grappling with how to regulate cryptocurrencies, asking whether they need specific legislation to regulate crypto assets — or if they should be regulated at all.</p><p>In the U.S., there is no single body overseeing all aspects of crypto However, several agencies do enforce some regulation. The Securities Exchange Commission (SEC) regulates cryptocurrency as securities, for example, while the IRS treats cryptocurrency as property for tax purposes.</p><p>While this lack of regulation responds to the nature of crypto and its ethos of freedom, a lack of adequate regulation means consumers are not protected against many crypto crimes and scams. Ultimately, crypto must be studied and handled carefully.</p><h2>Latest news</h2><p>Digital appear to be the investment of choice for Gen Z, who are <a href="https://money.com/gen-z-crypto-vs-retirement/">four times more likely to own a cryptocurrency</a> than they are to have a retirement account. According to a February report from YouGov on U.S. investment trends, Gen Zers are less likely to work with a financial advisor and prefer leveraging crypto exchanges rather than banks and credit unions.</p><p>As cryptocurrency ownership and confidence slips from previous highs, investors are looking into <a href="https://money.com/etfs-for-crypto-exposure/">ETFs for crypto exposure</a>. A 2024 investing trends study by the Journal of Financial Planning and the Financial Planning Association shows that ETFs are the most commonly recommended investment among financial planners, making bitcoin and ethereum ETFs a noteworthy alternative to investing in crypto directly.</p><hr><h2>Best Crypto Wallet FAQs</h2><h3>Are crypto wallets free?</h3><p>Many hot wallets -- mobile apps, desktop software, browser extensions -- are free to download and use. They don't charge fees for holding your crypto either, though the in-wallet exchanges they feature might. </p><p>Cold wallets, most of which are hardware devices, come with a one-time purchase cost. This ranges from as low as $49 for an entry-level wallet to as high as $500 for high-end models.</p><h3>Can I have more than one crypto wallet?</h3><p>Yes, you can have more than a single crypto wallet -- in fact, some people have several of them. For example, you might use a hot wallet for everyday transactions or short-term trading and a cold wallet for storing larger amounts of crypto long-term. Traders also multiple wallets to hold different crypto, diversify risk and better organize their holdings.</p><h3>Do I need a wallet to buy crypto?</h3><p>You don't absolutely need a wallet to buy crypto, but it's highly recommended to have one anyway, especially if you intend to hold crypto for longer periods of time. </p><p>Although many cryptocurrency exchanges let you buy and store crypto within their platform, having your own wallet gives you added security over your assets. It also gives you full control over your private key, and as crypto investors often say, "Not your keys, not your coins."</p><h3>What happens if I lose my crypto wallet?</h3><p>You can usually recover a lost crypto wallet using your seed phrase, a sequence of 12 to 24 words that you receive when first setting up the wallet. Some wallets have begun to incorporate different recovery methods or use cryptography that avoids private keys altogether. However, for most wallets, losing your seed phrase means your crypto is likely unrecoverable.</p><h3>Are hot wallets or cold wallets safer?</h3><p>Cold wallets are generally safer than hot wallets because they store your private keys offline, making them immune to most online threats. Hot wallets, while more convenient because they can be accessed on multiple devices, are always connected to the internet, which leaves them more exposed to cyberattacks.</p><hr><h2>Methodology</h2><p>The team at Money scrutinized 44 crypto wallets — 26 hot and 18 cold — and evaluated them based on security, functionality and user experience. Because the two types of wallets don’t share the exact same features, we considered different factors for each. For instance, cold wallets aren’t rated on most security assessment platforms, which makes third-party audits even more important.</p><h3>Security</h3><p>Security is the factor that held the biggest weight during our evaluation process. After all, the whole point of getting a crypto wallet for many people is to keep their coins and tokens safe.</p><p>We started evaluating security by looking at scores from trustworthy assessment sites — namely Certik, Coinspect and CERtified. These platforms rate wallets based on numerous data points, including bug bounty programs, previous security incidents, threat prevention tools and penetration tests.</p><p>Unfortunately, not every wallet shows up on these platforms. Because of this, we continued with our own research, considering each company’s network and app security, authentication options, code audits, certifications and more.</p><h3>Functionality</h3><p>For functionality, we mainly focused on the trading features each wallet offers. Crypto wallets with a larger number of tradable assets, live market charts, Web3 support, customizable transactions and staking capabilities were highly favored by us. For bitcoin-only wallets, we also considered any features that sped up transactions, such as support for the lightning network.</p><h3>User experience</h3><p>If you can’t figure out your own wallet, there’s no point in using it in the first place. We favored wallets that were easy to use for casual and dedicated traders alike thanks to intuitive interfaces, 24/7 live support and educational content. For cold wallets, we also considered the dimensions of each device, the quality of their screen and any hardware components meant to improve usability.</p><h2>Summary of our top picks</h2><ul><li><a href="https://money.com/best-crypto-wallets/#exodus">Exodus</a> – Best Crypto Wallet Overall</li><li><a href="https://money.com/best-crypto-wallets/#zengo">Zengo</a> – Best Crypto Wallet for Beginners</li><li><a href="https://money.com/best-crypto-wallets/#sparrow">Sparrow</a> – Best Crypto Wallet for Bitcoin</li><li><a href="https://money.com/best-crypto-wallets/#bluewallet">BlueWallet</a> – Best Mobile Bitcoin Wallet</li><li><a href="https://money.com/best-crypto-wallets/#trustwallet">Trust Wallet</a> – Best Mobile Crypto Wallet</li><li><a href="https://money.com/best-crypto-wallets/#metamask">MetaMask</a> – Best Web3 Wallet</li><li><a href="https://money.com/best-crypto-wallets/#trezor">Trezor Model One</a> – Best Entry-Level Hardware Wallet</li><li><a href="https://money.com/best-crypto-wallets/#ledger">Ledger Nano Flex</a> – Best High-End Hardware Wallet</li></ul>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5984490</post-id> <media:thumbnail url="https://img.money.com/2023/12/Best-Crypto-Wallet.jpg?quality=85" /> <media:content url="https://img.money.com/2023/12/Best-Crypto-Wallet.jpg?quality=85" medium="image"> <media:title type="html">Best-Crypto-Wallet</media:title> </media:content> <media:content url="https://img.money.com/2022/09/Best-Crypto-Wallets-Icons-1.png?resize=300,200" medium="image" /> <media:content url="https://img.money.com/2022/09/Best-Crypto-Wallets-Icons-2.png?resize=300,200" medium="image" /> <media:content url="https://img.money.com/2022/09/Best-Crypto-Wallets-Icons-3.png?resize=300,200" medium="image" /> <media:content url="https://img.money.com/2022/09/Best-Crypto-Wallets-Icons-4.png?resize=300,200" medium="image" /> <media:content url="https://img.money.com/2022/09/Best-Crypto-Wallets-Icons-5.png?resize=300,200" medium="image" /> <media:content url="https://img.money.com/2022/09/Best-Crypto-Wallets-Icons-6.png?resize=300,200" medium="image" /> <media:content url="https://img.money.com/2022/09/Best-Crypto-Wallets-Icons-7.png?resize=300,200" medium="image" /> <media:content url="https://img.money.com/2022/09/Best-Crypto-Wallets-Icons-8.png?w=300" medium="image" /> <media:content url="https://img.money.com/2022/09/Best-Crypto-Wallets-Icons-9.png?w=300" medium="image" /> </item> <item> <title>6 Best Crypto Exchanges of July 2025</title> <link>https://money.com/best-crypto-exchanges/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Tue, 01 Jul 2025 17:58:45 +0000</pubDate> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5984493</guid> <description><![CDATA[Money's reviews of the best Crypto Exchanges for 2024.]]></description> <content:encoded><![CDATA[<p><a href="https://secure.money.com/pr/we6d3dfc7133?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-crypto-exchanges%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-crypto-exchanges%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=we6d3dfc7133&type=image" /></a></p><h2>What to know about crypto exchanges</h2><ul><li>Crypto exchanges in the US face much stricter regulation than elsewhere because they must comply with SEC, CFTC, FinCEN and sometimes even state-level regulators.</li><li>Most crypto exchanges run on a maker-taker fee model, meaning you are charged differently depending on whether you add or take liquidity from the market.</li><li>There are two main types of crypto exchange: centralized and decentralized. The former are operated by a single entity, whereas the latter run as a peer-to-peer network.</li><li>Centralized crypto exchanges don’t provide control of your private keys, meaning you don’t technically “own” your coins until you withdraw it to an independent crypto wallet.</li></ul><p><em>Storing your crypto on an exchange is possible, but it’s far from a best practice when it comes to securing your assets. If you’re looking for somewhere to hold your cryptocurrency, not just trade it, read our piece on the <a href="https://money.com/best-crypto-wallets/">Best Crypto Wallets</a>.</em></p><h2>How we chose our top picks</h2><p>Our team has spent hundreds of hours researching crypto, including how it’s stored and traded. To pick the best crypto exchanges, we evaluated 22 companies based on their security, trading features and user experience. We also studied current crypto regulation and compliance reports, compared fee schedules and spoke to our in-house crypto experts for further guidance.</p><p>Read our <a href="https://money.com/best-crypto-exchanges/#method">full methodology</a> to learn more.</p><p><em>Money is not a client of any investment adviser featured on this page. The information provided on this page is for educational purposes only and is not intended as investment advice. Money does not offer advisory services.</em></p><h2>Our top picks for the best crypto exchanges of 2025</h2><ul><li><a href="https://money.com/best-crypto-exchanges/#kraken">Kraken</a> – Best Crypto Exchange Overall</li><li><a href="https://money.com/best-crypto-exchanges/#coinbase">Coinbase</a> – Best for Beginners</li><li><a href="https://money.com/best-crypto-exchanges/#cryptocom">Crypto.com</a> – Best for Crypto Rewards</li><li><a href="https://money.com/best-crypto-exchanges/#uphold">Uphold</a> – Best for Altcoins</li><li><a href="https://money.com/best-crypto-exchanges/#pionex">Pionex.US</a> – Best for Automated Trading</li><li><a href="https://money.com/best-crypto-exchanges/#uniswap">Uniswap</a> – Best Decentralized Exchange</li></ul><p><span class="s1"><a href="https://secure.money.com/pr/eb093258d9a0?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-crypto-exchanges%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-crypto-exchanges%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=eb093258d9a0&type=image" /></a></span></p><p><a href="https://secure.money.com/pr/s88dbd191b18?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-crypto-exchanges%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-crypto-exchanges%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=s88dbd191b18&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Wide range of supported cryptocurrencies</li><li>Low fees and transparent fee schedule</li><li>Reliable security track record</li><li>Margin trading available</li></ul><h3>Cons</h3><ul><li>Unavailable in Maine, New York and Washington state</li><li>High fees for instant purchases</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Trading fees</dt><dd>0.25% - 0.00% | 0.40% - 0.08%</dd></dl><dl><dt>CER Security Rating</dt><dd>??? | AAA</dd></dl><dl><dt>CoinGecko Trust Score</dt><dd>10/10</dd></dl><hr><p><strong>Why we chose it:</strong> <a href="https://secure.money.com/pr/z1e809daf706">Kraken</a> has been around for a while now, being well-beloved and trusted by many crypto traders. The exchange supports more than 400 cryptocurrencies and has arguably the safest digital platform for trading your crypto, with high marks across all the security assessment platforms we looked at. In fact, Kraken has never suffered a large-scale hack since it first went online in 2011 — an accolade that very few others of its size can attest to.</p><p>Kraken Pro, the exchange’s advanced trading platform, is especially notable for having some of the lowest spot trading fees and highly customizable, responsive dashboard that supports more than 25 trading and market data widgets. It also belongs to a handful of platforms that allow margin and derivatives trading, a practice that is heavily restricted in the U.S.</p><p><span class="s1"><a href="https://secure.money.com/pr/e442eb16ac79?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-crypto-exchanges%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-crypto-exchanges%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=e442eb16ac79&type=image" /></a></span></p><hr><h3>Pros</h3><ul><li>Educational tools that reward users with crypto</li><li>Streamlined, easy to navigate interface</li><li>Strong consumer protections</li><li>24/7 live customer support</li></ul><h3>Cons</h3><ul><li>More limited coin selection than other large exchanges</li><li>High fees on standard Coinbase app</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Trading fees</dt><dd>0.40% - 0.00% | 0.60% - 0.05%</dd></dl><dl><dt>CER Security Rating</dt><dd>??? | AAA</dd></dl><dl><dt>CoinGecko Trust Score</dt><dd>10/10</dd></dl><hr><p><strong>Why we chose it: </strong><a href="https://secure.money.com/pr/n0707d011681">Coinbase</a>, one of the largest and most well-known exchanges in the U.S., does a great job of lowering the barrier to entry for new investors. Its straightforward onboarding process makes it easy to verify your identity and eases users into trading, while educational incentives like Coinbase Earn help you learn about crypto while earning small amounts.</p><p>The exchange’s security features are worth mentioning as well. It offers six types of two-factor authentication, allows customers to store their funds in a vault with time delayed withdrawals, and has an insurance policy to protect custodial accounts of up to $250,000. This is why Coinbase is ultimately worth trying for beginners, despite its higher fees.</p><p><span class="s1"><a href="https://secure.money.com/pr/w485f5f458e5?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-crypto-exchanges%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-crypto-exchanges%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=w485f5f458e5&type=image" /></a></span></p><hr><h3>Pros</h3><ul><li>CFTC-regulated crypto options and derivatives</li><li>High liquidity and market presence</li><li>Cashback via Visa debit card</li><li>Zero-fee USD deposits</li></ul><h3>Cons</h3><ul><li>Layered rewards model can be confusing</li><li>Most benefits require staking CRO</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Trading fees</dt><dd>0.25% - 0.08% | 0.50% - 0.18%</dd></dl><dl><dt>CER Security Rating</dt><dd>?? | AAA</dd></dl><dl><dt>CoinGecko Trust Score</dt><dd>10/10</dd></dl><hr><p><strong>Why we chose it</strong>: <a href="https://money.com/pr/c4f3956a23f8?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-crypto-exchanges%252F">Crypto.com</a> features several rewards programs, including referral bonuses, rebates based on trading volume and other special promotions like welcome offers and periodic token sales. The platform also offers competitive staking yields, plus its Visa debit card program can earn customers up to 5% cashback in crypto depending on how much CRO (Cronos, Crypto.com’s native token) they stake.</p><p>While its higher reward tiers require significant CRO staking, the sheer variety of rewards available puts Crypto.com on top when it comes to getting more out of your crypto. This is especially true when combined with the platform’s other advantages: high liquidity to ensure smoother transactions, robust security infrastructure and a sleek, beginner-friendly app.</p><p><span class="s1"><a href="https://secure.money.com/pr/jc3adc507a86?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-crypto-exchanges%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-crypto-exchanges%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=jc3adc507a86&type=image" /></a></span></p><hr><h3>Pros</h3><ul><li>Support for hard-to-find altcoins</li><li>Highly transparent business model</li><li>Simple interface for cross-asset conversions</li><li>Staking for a broad range of coins</li></ul><h3>Cons</h3><ul><li>Lacks advanced trading tools</li><li>No spot or margin trading</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Trading fees</dt><dd>2.5% - 2.95% for altcoins | 1.4%-1.6% for bitcoin and ether | 0.2% for most stablecoins</dd></dl><dl><dt>CER Security Rating</dt><dd>Not applicable</dd></dl><dl><dt>CoinGecko Trust Score</dt><dd>Not applicable</dd></dl><hr><p><strong>Why we chose it</strong>: <a href="https://secure.money.com/pr/c14332e2db82?data-trk-company=uphold-crypto-exchange&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=c14332e2db82&encoded_id={{encoded_id}}">Uphold</a> offers a wide range of fiat and cryptocurrencies — over 300 cryptocurrencies, to be exact. While this may not be the largest selection overall on our list, it includes hard to find coins that often are not available elsewhere. There’s no better example for this than Ripple (XRP), which Uphold continued to support even as nearly every other US exchange delisted it as a result of the now-dropped SEC lawsuit against it.</p><p>Uphold also allows users to trade between different asset classes, such as converting Bitcoin directly into gold or U.S. dollars. The exchange is no slouch when it comes to security either. Its proprietary technology regularly undergoes independent audits, holding SOC 2 Type 2 and ISO 27001 certifications, and is a FinCEN Registered Money Services Business in the US.</p><p><a href="https://secure.money.com/pr/nf9340f55dde?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-crypto-exchanges%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-crypto-exchanges%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=nf9340f55dde&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Beginner-friendly automation features</li><li>11 built-in trading bots</li><li>$200 USDT welcome bonus</li><li>Low fees and high liquidity</li></ul><h3>Cons</h3><ul><li>Unavailable in Alaska, Hawaii and New York</li><li>Limited fiat on-ramps</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Trading fees</dt><dd>0.1% for all transactions</dd></dl><dl><dt>CER Security Rating</dt><dd>?? | BBB</dd></dl><dl><dt>CoinGecko Trust Score</dt><dd>10/10</dd></dl><hr><p><strong>Why we chose it:</strong> <a href="https://secure.money.com/pr/nea55b87aed7">Pionex.US</a> has 11 baked-in trading bots that cover options such as grid trading, dollar-cost averaging and rebalancing, each of these being customizable based on your risk tolerance and market view. This is unlike many other exchanges that support automation, which require third-party tools and/or technical skills to get bots up and running.</p><p>Pionex.US also stands out when considering cost. With trading fees as low as 0.1% on all transactions, it’s one of the most affordable options available, and because it pulls liquidity from larger exchanges like Binance and Huobi, orders are filled quickly and at competitive prices. Moreover, new users can receive up to $200 USDT as a welcome bonus, giving you some extra cushion as you explore the platform’s bots and features.</p><p><a href="https://secure.money.com/pr/db4da3869a43?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-crypto-exchanges%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-crypto-exchanges%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=db4da3869a43&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Thousands of tokens on more than 11 chains</li><li>Fully decentralized and non-custodial</li><li>Earn by providing liquidity</li><li>No sign-ups or KYC</li></ul><h3>Cons</h3><ul><li>No fiat support or customer service</li><li>High ethereum gas fees</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Trading fees</dt><dd>Variable (gas fees)</dd></dl><dl><dt>CoinGecko Trust Score</dt><dd>Not applicable</dd></dl><dl><dt>CER Security Rating</dt><dd>Not applicable</dd></dl><hr><p><strong>Why we chose it: </strong><a href="https://secure.money.com/pr/re95de629bce?data-trk-company=uniswap-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=re95de629bce&encoded_id={{encoded_id}}">Uniswap</a> leads the pack in the decentralized exchange (DEX) space with its user-friendly interface, deep liquidity — it’s the largest on-chain marketplace today — and permissionless trading environment. The platform lets you trade directly from your crypto wallet, meaning there’s no account registration, Know Your Customer process or middlemen involved.</p><p>Another feature that makes Uniswap stand out is its multi-chain support, which now spans ethereum, Polygon, BNB Chain and many more. This opens the door to thousands of tokens, from major assets to niche altcoins. The exchange also rewards liquidity providers, who earn a share of trading fees in return for depositing tokens into liquidity pools.</p><p><span class="s1"><a href="https://secure.money.com/pr/e104f72e29f6?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-crypto-exchanges%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-crypto-exchanges%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=e104f72e29f6&type=image" /></a></span></p><h3>Other crypto exchanges we considered</h3><p>The following trading platforms are all strong options, especially for new traders. However, they didn’t make it to our top list because they lack certain core features, are not dedicated crypto exchanges or don’t excel in any particular area.</p><h4><a href="https://secure.money.com/pr/te29b3ad1cb5" target="_blank" rel="noopener">Cash App</a></h4><p>Cash App is one of the easiest platforms you can use to get started with bitcoin — but <em>only</em> with bitcoin. The app added the capability to buy and sell bitcoin cryptocurrency in 2018 and unlike other non-dedicated crypto exchanges, lets you keep custody of your coins. This alone makes it a worthy entry point to crypto investing.</p><p><strong>Why it didn’t make the cut</strong>: Cash App lacks advanced trading tools, educational resources and access to altcoins, so it won’t serve users looking for a broader crypto investing experience.</p><h4><a href="https://secure.money.com/pr/c4f3956a23f8">Binance.US</a></h4><p>Binance.US is one of the most affordable platforms on our list, with many trades starting at just 0.1%. The platform also stands out for users who want to do more than just buy and hold crypto thanks to staking rewards, recurring buys and over-the-counter services for high-volume traders.</p><p><strong>Why it didn’t make the cut</strong>: Binance.US has been the target of legal scrutiny in the past. In 2023, it admitted to engaging in anti-money laundering, unlicensed money transmitting and sanctions violations. The platform is also unavailable in 12 states, including Georgia, New York and Texas, as well as in several U.S. territories.</p><h4><a href="https://secure.money.com/pr/vafe08a49d39">Gemini</a></h4><p>Gemini is a well-funded crypto exchange with a reputation for being easy to use. The platform supports 80 crypto to buy, sell and store, offers a variety of tools for high-performance traders and boasts excellent security practices.</p><p><strong>Why Gemini didn’t make the cut:</strong> Gemini’s fees are markedly higher compared to those of other exchanges. And while the platform’s features make for a good package overall, none of them were impressive enough to earn Gemini a top spot with us.</p><h4><a href="https://secure.money.com/pr/ade7d9f444b9">Robinhood</a></h4><p>Robinhood is a popular commission-free investment platform that caters to beginners and casual investors. Like Cash App, it launched its cryptocurrency trading service in 2018, starting out with only bitcoin and ethereum. It now allows users to buy and sell over 50 different coins.</p><p><strong>Why it didn’t make the cut</strong>: While Robinhood is easy for crypto beginners to get started with, it lacks the features and charting tools of a full-service cryptocurrency exchange. It has also been the target of numerous complaints from users and regulators regarding its dishonest business practices (the app was fined $70 million by FINRA in 2021 for misleading consumers).</p><h2>Crypto Exchanges Guide</h2><p>Crypto exchanges are the primary gateway for trading digital currencies like bitcoin (BTC), ethereum (ETH) for other cryptocurrencies or fiat currencies such as U.S. dollars and euros. They are online platforms that act as intermediaries, allowing users to buy, sell or swap crypto.</p><p>In addition to trading, crypto exchanges provide a variety of services unavailable elsewhere. Crypto staking is a big one: it allows you to earn crypto back for setting aside a portion of the coins in their wallet. Some even offer cashback card programs and tools for web3 developers.</p><p>Exchanges are essential to the crypto ecosystem because most traditional investment firms don’t support crypto trading. Without them, you would have to find another person willing to trade crypto, agree on an exchange rate and send the coins directly to each other’s crypto wallets — a somewhat convoluted process.</p><h3>The different types of crypto exchanges</h3><p>There are two main types of crypto exchange: centralized and decentralized. Platforms that combine features of both types are sometimes considered “hybrid” exchanges.</p><h4>Centralized exchanges (CEX)</h4><p>Centralized exchanges are the most common and traditional type of crypto exchange. These are owned by private companies and offer investors a platform to trade cryptocurrencies. This type of exchange tends to have higher trade volumes and liquidity and a greater number of trading pairs.</p><p>Centralized exchanges are often considered a good option for new crypto traders because of their smoother onboarding and availability of customer support. However, they are also inherently more vulnerable to cyberattacks and require you to provide personally identifiable information — which some users may feel uncomfortable sharing.</p><p><strong>Examples</strong>: Coinbase, Kraken, Gemini</p><h4>Decentralized exchanges (DEX)</h4><p>Decentralized exchanges follow in the spirit of bitcoin by operating with no central point of control. Servers for this type of exchange are spread throughout computers located across the world, which means if one computer is attacked, the network keeps running.</p><p>Where centralized exchanges operate as brokerages, decentralized exchanges are more like marketplaces. They facilitate peer-to-peer trading and have a less rigid registration process. The main drawbacks of decentralized exchanges include lower trading volume, small liquidity and a lack of customer support.</p><p><strong>Examples</strong>: Uniswap, Bisq, dYdX</p><h3>Understanding crypto exchange fees</h3><p>Like exchanging fiat currencies, trades on a crypto exchange usually incur fees, which is how these platforms make the most of their revenue. But it’s not always clear what exactly you’ll be charged for — even less so when exchanges can run on different fee models.</p><p>Crypto exchange fees can be broadly classified into three categories: trading fees, spread fees and deposit and withdrawal fees. There are also network fees, which will come up when withdrawing crypto and trading on decentralized exchanges.</p><h3>Trading fees</h3><p>Charged when buying or selling crypto, trading fees are present across exchanges in a variety of ways, but are most often seen in spot exchanges under a <strong>maker-taker</strong> model.</p><p>This model comes with two percentages that apply to your transactions under different circumstances (for example, 0.20% / 0.40%). The <strong>maker</strong> fee applies when you add liquidity to the exchange by placing an order that doesn’t immediately fill. The <strong>taker</strong> fee applies when you remove liquidity, which happens when you place an order that fills instantly at the current price.</p><h3>Spread fees</h3><p>Some crypto exchanges don’t have clear trading fees. Instead, they charge something called a spread fee, which is the difference between the price at which an exchange sells a cryptocurrency and the price at which it buys it from you. This difference is how some platforms make money, especially those that advertise “zero commission” or “no trading fees.”</p><p>For example, if bitcoin’s market price is $90,000, an exchange might sell it to you for $90,300 and buy it from you for $89,700. That $600 difference is the spread — effectively a hidden fee you pay on each trade.</p><p>Spread fees are common when using the “instant buy” feature of crypto exchanges which, although convenient, is almost always more expensive than regular spot trades.</p><h3>Deposit and withdrawal fees</h3><p>Deposit and withdrawal fees may apply when transferring money into or out of your crypto exchange, for example, via debit card, credit card or PayPal. These fees vary widely from exchange to exchange depending on the payment method and type of asset you’re moving.</p><p>Bank transfers are often free or low cost. Credit and debit card deposits can carry fees of 2% to 5%. Crypto withdrawals often come with blockchain network fees (like gas fees on ethereum) and sometimes incur additional platform fees.</p><h3>Network fees</h3><p>Also known as gas fees, network fees are paid to cryptocurrency miners, who process and secure crypto transactions on the blockchain. Most importantly, most exchanges do not set these fees: They’re built into the blockchain itself and are based on network activity.</p><p>Many centralized crypto exchanges incur this cost, though some may allow you to pay more in fees to speed up your transactions. Users on decentralized exchanges have to pay this fee themselves, since there is no third party between them and the crypto miners.</p><div class="v-group panel panel-default"><div class="panel-body"><div class="v-row"><div class="form-group embed-group"><div id="embed-code-description" class="embed-code-description"><hr><h2>Crypto Exchanges FAQs</h2><h3>Are crypto exchanges safe to use?</h3><p>Crypto exchanges are generally safe to use, partly because they must follow more stringent regulation today. To operate in the U.S., exchanges have to register with FinCEN and follow anti-money laundering (AML) and know-your-customer (KYC) rules. This doesn't mean they are impervious to bad actors or cyberattacks, but they are held up to a higher standard overall.</p><h3>Can I store my crypto on an exchange?</h3><p>You can store your crypto on an exchange, but keeping large amounts of it there is risky. If the exchange's platform is hacked and your crypto is moved out of their wallet, there is no way to recover it. The same goes for any exchange with no financial assistance for existing clients that shuts down.</p><h3>What payment methods do crypto exchanges accept?</h3><p>Major exchanges accept a range of payment options, including bank transfers (ACH, wire, SEPA), credit and debit cards, third-party services like PayPal and Apple Pay, and other cryptocurrencies for crypto-to-crypto trading?. Some exchanges also support gift cards or transfers from e-wallets.</p><h3>Do I need to verify my identity to use a crypto exchange?</h3><p>Most regulated exchanges require users to complete an identity verification process called Know Your Customer (KYC) before allowing fiat deposits, withdrawals or large trades. You may need to submit your ID, a photo and proof of address as part of this process. Decentralized exchanges often skip this process altogether, extending greater privacy to its users.</p><h3>Why is liquidity important for crypto exchanges?</h3><p>You can generally judge how efficient an exchange is based on its liquidity. An exchange with high liquidity will have many buyers and sellers, making it easier to match orders quickly. It will also feature less of a difference between the bid and ask prices of crypto, which results in lower spread fees and a more stable platform overall.</p><hr></div></div></div></div></div><h2>How we chose the best crypto exchanges</h2><p>The team at Money researched over 22 crypto exchanges and evaluated them based on cost, security and user experience. We mainly focused on dedicated crypto exchanges and then looked at trading platforms that let you trade other securities.</p><h3>Cost</h3><p>Fees can quickly add up, especially for frequent traders, so we prioritized exchanges with low or reduced fees and transparent pricing. Many platforms offer tiered maker-taker fee structures where trading costs drop as your volume increases. Some also provide discounts for using native tokens like BNB or CRO, or even waive fees altogether for high-volume orders.</p><p>Clear and easily accessible fee disclosures were a must for us. We favored exchanges that not only openly establish their fee schedules but that also explain them in layman’s terms.</p><h3>Security</h3><p>A secure crypto exchange protects both your funds and personal information through strong preventative measures and responsible account management. The best platforms conduct regular penetration tests, host bug bounties and request third-party audits to identify and fix vulnerabilities in their code. They may also offer insurance to cover losses from internal errors.</p><p>On the user side, exchanges should enforce best practices like TLS/SSL encryption and multi-factor authentication (MFA) to ensure safe account access. These tools — along with a strong track record of guarding against breaches — are key signs of a trustworthy platform.</p><h3>User Experience</h3><p>A good crypto exchange should offer a smooth, intuitive experience for both beginners and seasoned traders. We evaluated platforms based on the design and usability of their mobile and desktop interfaces, prioritizing those with clean layouts and simple navigation.</p><p>Strong user experience also includes access to educational content like tutorials, guides and explainers to help users understand crypto basics and platform features. In addition, research tools that provide real-time market data, coin filtering and sorting options and performance metrics (like market cap and price trends) help users make informed decisions.</p><h2>Summary of Money’s Best Crypto Exchanges of 2025</h2><ul><li><a href="https://money.com/best-crypto-exchanges/#kraken">Kraken</a> – Best Crypto Exchange Overall</li><li><a href="https://money.com/best-crypto-exchanges/#coinbase">Coinbase</a> – Best for Beginners</li><li><a href="https://money.com/best-crypto-exchanges/#cryptocom">Crypto.com</a> – Best for Crypto Rewards</li><li><a href="https://money.com/best-crypto-exchanges/#uphold">Uphold</a> – Best for Altcoins</li><li><a href="https://money.com/best-crypto-exchanges/#pionex">Pionex.US</a> – Best for Automated Trading</li><li><a href="https://money.com/best-crypto-exchanges/#uniswap">Uniswap</a> – Best Decentralized Exchange</li></ul>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5984493</post-id> <media:thumbnail url="https://img.money.com/2023/12/Best-Crypto-Exchange-mbci_9mcy3__b0ps3x.jpg?quality=85" /> <media:content url="https://img.money.com/2023/12/Best-Crypto-Exchange-mbci_9mcy3__b0ps3x.jpg?quality=85" medium="image"> <media:title type="html">Best-Crypto-Exchange</media:title> </media:content> </item> <item> <title>Why States With No Income Tax Aren’t as Affordable as They Seem</title> <link>https://money.com/no-income-tax-states-expensive/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Tue, 01 Jul 2025 17:46:56 +0000</pubDate> <category><![CDATA[News]]></category> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5986285</guid> <description><![CDATA[If a state doesn’t charge income tax, it must find revenues elsewhere.]]></description> <content:encoded><![CDATA[<p>There are nine states that don’t tax workers’ wages. But just because a state doesn’t have income taxes doesn’t necessarily mean it’s an affordable place to live.</p><p>If a state doesn’t charge income tax, it must find revenues elsewhere, which explains why other tax rates tend to be high in these locations. What’s more, the cost of living in some states with no income tax has soared in recent years, often as a result of skyrocketing <a href="https://money.com/best-home-insurance/">home insurance prices</a> related to climate change, as well as higher housing prices in general.</p><p class="p1"><a href="https://secure.money.com/pr/ga61e1ed77a1?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fno-income-tax-states-expensive%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fno-income-tax-states-expensive%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=ga61e1ed77a1&type=image" /></a></p><p>The point is: Moving to a state with no income tax is not a slam-dunk strategy to save money. In fact, if you don’t do the math to factor in other local living expenses, it can seriously backfire. (FYI, the states with no ordinary income tax in 2025 are Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming.)</p><p>“The correlation between the cost of living and the absence of income tax in a state is relatively weak,” <a href="https://taxfoundation.org/about-us/staff/andrey-yushkov/" target="_blank" rel="noopener">Andrey Yushkov</a>, a senior policy analyst with the Center for State Tax Policy at the nonpartisan nonprofit Tax Foundation, explains to Money via email. “Many other factors affect the cost of living, including property and sales taxes, excise taxes and home insurance. Therefore, the absence of income tax does not necessarily imply that it is cheaper <em>for everyone</em> to live there.”</p><h2>Rising home insurance and car insurance costs</h2><p>The state with the highest home insurance rates happens to be one with no income tax. According to the online insurance marketplace <a href="https://insurify.com/homeowners-insurance/average-cost-of-homeowners-insurance/" target="”_blank" rel="noopener">Insurify</a>, Florida has the nation’s costliest homeowners insurance, with the average annual policy running $10,675 in 2025. Home insurance in Texas, another destination celebrated for having no state income tax, averages $4,789, good for fourth-most expensive in the country.</p><p><img loading="lazy" class="alignnone wp-image-5986910 size-portrait_small_2x" src="https://img.money.com/2025/07/News-Tax-Free-States-Cost-Chart-Home.jpg?w=560" alt="Top 10 most expensive states for Home Insurance chart" width="560" height="392" /></p><p>These rates are far more expensive than the national average (which is $2,584 as of 2025), and homeowners in many states are growing accustomed to soaring insurance premiums. Washington saw one of the nation’s biggest increases in insurance costs in 2024, up over 20% year over year, according to <a href="https://www.spglobal.com/market-intelligence/en/news-insights/articles/2025/1/us-homeowners-rates-rise-by-double-digits-for-2nd-straight-year-in-2024-87061085">S&P Global data</a>.</p><p>It’s also simply getting harder to find coverage, period.</p><p>Many home insurers have left states where <a href="https://money.com/home-insurance-leaving-states-hiking-prices/">climate change is causing costs to soar</a>, including Florida, Louisiana, California and Colorado. Earlier this year, the Treasury Department issued a <a href="https://home.treasury.gov/news/press-releases/jy2791">report</a> on what it called an “alarming” rise in home insurance costs and the decreasing availability of coverage options in many areas.</p><p>It’s a similar story for car owners, who’ve seen average <a href="https://money.com/best-auto-insurance/">auto insurance</a> prices increase to $2,324, up nearly 30% in two years. And, yes, according to <a href="https://insurify.com/car-insurance/report/data/" target="”_blank" rel="noopener">Insurify</a>, many of the states with the highest car insurance prices are places with no income taxes: Nevada has the nation’s sixth-most expensive auto insurance costs (averaging $3,207 for full coverage in 2025), and Florida ($2,967) comes in eighth.</p><p><img loading="lazy" class="alignnone wp-image-5986909 size-portrait_small_2x" src="https://img.money.com/2025/07/News-Tax-Free-States-Cost-Chart-Auto.jpg?w=560" alt="Top 10 most expensive states for car insurance" width="560" height="392" /></p><p>The takeaway is that insurance cost differences around the country can have a major impact on a household’s budget and lifestyle.</p><p>“If someone is considering moving to a state without income tax to save money, they should look into the auto and home insurance market in that area first,” says Cassie Sheets, a data journalist at <a href="https://insurify.com/">Insurify</a>. “Some states are seeing bigger increases than others, and several states with no or low income tax are among the most expensive.”</p><p class="p1"><a href="https://secure.money.com/pr/u901edf57e84?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fno-income-tax-states-expensive%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fno-income-tax-states-expensive%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=u901edf57e84&type=image" /></a></p><h2>Consider property taxes, sales tax and other expenses</h2><p>Homeowner property taxes vary dramatically in different parts of the country. There are many counties in rural states where the typical property tax bill is under $300 a year, per <a href="https://taxfoundation.org/data/all/state/property-taxes-by-state-county/" target="”_blank" rel="noopener">Tax Foundation data</a>. Meanwhile, median residential property taxes in several suburban counties in California, New York, New Jersey and Virginia are over $10,000.</p><p>Property taxes are assessed as a portion of a home’s assessed value. So instead of looking just at property taxes in raw dollars, it’s important to consider the rates charged in order to understand their real impact on owners.</p><p>Illinois has the nation’s highest property tax rates (1.83%), followed by New Jersey (1.77%). But next on the list comes New Hampshire (1.93%), which stands out in New England for having no general sales tax or taxes on wages. Texas, another no-state-income-tax state, has the seventh-highest property tax rate, at 1.36%.</p><p>As for <a href="https://money.com/states-highest-lowest-no-sales-tax/">sales tax</a>, three states with no income tax are ranked among top 10 for highest rates: Tennessee charges 7%, while Nevada tacks on 6.85%. The sales tax rates in Texas (6.25%) and Washington (6.5%) are high in the grand scheme, as well.</p><p>States with no income tax may charge sales tax on items like groceries that are usually exempt. For example, voters in South Dakota voted to keep their grocery tax last year, with some voters saying they were worried property taxes would rise without it, according to the <a href="https://southdakotasearchlight.com/2024/11/06/partial-south-dakota-results-show-big-deficit-for-grocery-sales-tax-repeal/">South Dakota Searchlight</a>.</p><p><img loading="lazy" class="alignnone wp-image-5986911 size-portrait_small_2x" src="https://img.money.com/2025/07/News-Tax-Free-States-Cost-Chart.jpg?w=560" alt="States with the highest sales tax chart" width="560" height="392" /></p><p>Depending on your consumption habits, sales taxes in these states can add up to hundreds, if not thousands, of dollars in your budget each year.</p><p>As the Tax Foundation’s Yushkov tells Money, “for high-income individuals, income taxes may be one of the most important factors” in deciding where to live, assuming they’re aiming to keep as much of their earnings as possible. If you’re not super wealthy or your wealth is not based on income, however, the financial benefits of living in a state with no income tax are less clear.</p><p>Before deciding to move to a state with no income tax, you should examine your individual circumstances, including “job opportunities, family considerations, climate, infrastructure, educational system” and various local taxes, Yushkov says.</p><p>In addition to taxes on property, purchases and ordinary income, people should find out whether a state charges tax on capital gains, dividends and <a href="https://money.com/social-security-state-taxes-2025/">Social Security benefits</a>, too. It’s worth looking into recurring expenses too, like utility bills: <a href="https://www.aarp.org/money/investing/info-2023/average-utility-costs-ranked-by-state.html">Research</a> indicates that New Hampshire has the highest average utility bills in the mainland U.S. (adding up to about $4,500 a year), while Wyoming has the <a href="https://www.realtor.com/news/trends/the-states-with-the-highest-and-lowest-energy-bills-might-shock-you-into-moving/">highest residential energy costs</a>.</p><h2>Living expenses in states with no income tax</h2><p>Using data from Insurify, the Tax Foundation, Zillow and other sources, here are some location-specific factors to consider before moving to a state with no income tax:</p><h2>Alaska</h2><p><strong>State sales tax rate</strong>: 1.82%<br /><strong>Property tax rate</strong>: 0.91%<br /><strong>Average home insurance per year</strong>: $1,197<br /><strong>Average car insurance per year</strong>: N/A at Insurify due to insufficient data<br /><strong>Other factors</strong>: Cities can charge local sales tax up to 10%; Alaska also collects significant revenues from the oil industry.</p><h2>Florida</h2><p><strong>State sales tax rate</strong>: 6.95%<br /><strong>Property tax rate</strong>: 0.74%<br /><strong>Average home insurance per year</strong>: $10,675<br /><strong>Average car insurance per year</strong>: $2,967<br /><strong>Other factors</strong>: Home values have soared, up 50% in five years.</p><h2>Nevada</h2><p><strong>State sales tax rate</strong>: 8.24%<br /><strong>Property tax rate</strong>: 0.49%<br /><strong>Average home insurance per year</strong>: $1,370<br /><strong>Average car insurance per year</strong>: $3,207<br /><strong>Other factors</strong>: Nevada collects significant revenues related to gambling.</p><h2>New Hampshire</h2><p><strong>State sales tax rate</strong>: 0%<br /><strong>Property tax rate</strong>: 1.41%<br /><strong>Average home insurance per year</strong>: $1,226<br /><strong>Average car insurance per year</strong>: $966<br /><strong>Other factors</strong>: Utility bills are among the highest in the nation.</p><h2>South Dakota</h2><p><strong>State sales tax rate</strong>: 6.11%<br /><strong>Property tax rate</strong>: 0.99%<br /><strong>Average home insurance per year</strong>: $2,871<br /><strong>Average car insurance per year</strong>: $1,876<br /><strong>Other factors</strong>: Charges sales tax on items that are often exempt, such as groceries.</p><h2>Tennessee</h2><p><strong>State sales tax rate</strong>: 9.56%<br /><strong>Property tax rate</strong>: 0.49%<br /><strong>Average home insurance per year</strong>: $2,584<br /><strong>Average car insurance per year</strong>: $1,652<br /><strong>Other factors</strong>: Charges sales tax on items that are often exempt, such as groceries.</p><h2>Texas</h2><p><strong>State sales tax rate</strong>: 8.20%<br /><strong>Property tax rate</strong>: 1.36%<br /><strong>Average home insurance per year</strong>: $4,789<br /><strong>Average car insurance per year</strong>: $2,703<br /><strong>Other factors</strong>: Texas collects significant revenues related to the oil industry.</p><h2>Washington</h2><p><strong>State sales tax rate</strong>: 9.43%<br /><strong>Property tax rate</strong>: 0.75%<br /><strong>Average home insurance per year</strong>: $1,470<br /><strong>Average car insurance per year</strong>: $2,038<br /><strong>Other factors</strong>: Charges 7% tax on capital gains over $250,000.</p><h2>Wyoming</h2><p><strong>State sales tax rate</strong>: 5.44%<br /><strong>Property tax rate</strong>: 0.55%<br /><strong>Average home insurance per year</strong>: $1,740<br /><strong>Average car insurance per year</strong>: $1,229<br /><strong>Other factors</strong>: Charges sales tax on diapers and feminine hygiene products, residential energy costs are very high too.</p><p class="p1"><a href="https://secure.money.com/pr/i86244fe9d5c?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fno-income-tax-states-expensive%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fno-income-tax-states-expensive%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=i86244fe9d5c&type=image" /></a></p><h2>More from Money:</h2><p><a href="https://money.com/best-places-to-live/">The 50 Best Places to Live in the U.S.</a></p><p><a href="https://money.com/state-sales-tax-rates-map/">Map: Here’s How Much Every State Charges in Sales Tax</a></p><p><a href="https://money.com/home-insurance-what-happens-no-coverage/">More People Are Skipping Home Insurance to Save Money — and It Could Backfire</a></p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5986285</post-id> <media:thumbnail url="https://img.money.com/2025/06/News-Tax-Free-States-Cost-Update1.jpg?quality=85" /> <media:content url="https://img.money.com/2025/06/News-Tax-Free-States-Cost-Update1.jpg?quality=85" medium="image"> <media:title type="html">News-Tax-Free-States-Cost-Update</media:title> </media:content> <media:content url="https://img.money.com/2025/07/News-Tax-Free-States-Cost-Chart-Home.jpg?w=560" medium="image"> <media:title type="html">Top 10 most expensive states for Home Insurance chart</media:title> </media:content> <media:content url="https://img.money.com/2025/07/News-Tax-Free-States-Cost-Chart-Auto.jpg?w=560" medium="image"> <media:title type="html">Top 10 most expensive states for car insurance</media:title> </media:content> <media:content url="https://img.money.com/2025/07/News-Tax-Free-States-Cost-Chart.jpg?w=560" medium="image"> <media:title type="html">States with the highest sales tax chart</media:title> </media:content> </item> <item> <title>5 Best Homeowners Insurance Companies of 2025</title> <link>https://money.com/best-home-insurance/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Mon, 30 Jun 2025 21:45:04 +0000</pubDate> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5986121</guid> <description><![CDATA[Money's top picks for homeowners insurance companies for 2025.]]></description> <content:encoded><![CDATA[<p>Homeowners insurance pays to repair or rebuild your home and replace its contents if they’re damaged by specific perils like fire, theft or weather events such as wind or lightning.</p><h2><span style="font-weight: 400">What to know about homeowners insurance</span></h2><ul><li>Most standard homeowners insurance policies cover the structure of your primary residence, personal property, personal liability, and additional living expenses.</li><li>Though your state government doesn’t require it, your mortgage lender will require that the property is insured.</li><li>Before buying a policy, assess your home insurance needs. The age of your home, the value of your belongings, and the risk of natural disasters should all be considered.</li><li>Shop around. We focused on companies with a national presence, but regional carriers may offer the best rate and a more personalized service.</li></ul><p><a href="https://secure.money.com/pr/l2910688b2e6?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-home-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-home-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=l2910688b2e6&type=image" /></a></p><h2><span style="font-weight: 400">How we chose our top picks</span></h2><p><span style="font-weight: 400">Money vetted 15 companies after conducting 1,000+ hours of research based on more than 20 data points. We reviewed the insurers’ availability, financial strength and customer satisfaction ratings to determine which were the best providers nationwide.</span></p><p><span style="font-weight: 400">Read the full <a href="#methodology">methodology</a> to learn more.</span></p><h2>Our top picks for the best homeowners insurance</h2><ul><li style="font-weight: 400"><a href="https://money.com/best-home-insurance/#amica"><span style="font-weight: 400">Amica Mutual</span></a><span style="font-weight: 400"> – Best Overall</span></li><li style="font-weight: 400"><a href="https://money.com/best-home-insurance/#AIG"><span style="font-weight: 400">AIG</span></a><span style="font-weight: 400"> – Best for High-Value Homes</span></li><li style="font-weight: 400"><a href="https://money.com/best-home-insurance/#usaa"><span style="font-weight: 400">USAA</span></a><span style="font-weight: 400"> – Best Home Insurance Company for Military Members</span></li><li style="font-weight: 400"><span style="font-weight: 400"><a href="#chubb">Chubb</a> – Best for Diversity of Coverage Benefits</span></li><li style="font-weight: 400"><span style="font-weight: 400"><a href="#statefarm">State Farm</a> – Best for Bundling Policies</span></li></ul><p><a href="https://secure.money.com/pr/ra1ef2cf7d9a?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-home-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-home-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=ra1ef2cf7d9a&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Offers database listing vetted and licensed contractors</li><li>Discounts for claims-free customers</li><li>Ranks highly in JD Power's studies</li><li>Superior financial strength ratings</li></ul><h3>Cons</h3><ul><li>Not available in Hawaii</li><li>Premium rates are generally more expensive</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Financial rating:</dt><dd>A+ (Superior) on A.M. Best</dd></dl><dl><dt>Discounts:</dt><dd>Bundling, loyalty, claim-free, autopay, electronic bill, alarm system, detection devices</dd></dl><dl><dt>Bundling options:</dt><dd>Auto, renters, life, umbrella</dd></dl><hr><p><b>Why we chose Amica Mutual:</b><span style="font-weight: 400"><a href="https://money.com/pr/ndccc2c933c7?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-home-insurance%252F"> Amica</a> is our top choice for homeowners insurance because it checks all of the boxes: comprehensive coverage, very positive customer satisfaction ratings and nationwide availability.</span></p><p><span style="font-weight: 400">Amica, though not the cheapest insurer, has a great customer service track record. Indeed, Amica has top marks in what’s arguably the most important factor for customers: the claims process. It earned the top spot in J.D Power’s 2025 U.S. Property Claims Satisfaction Study, which surveys homeowners who filed an insurance claim within nine months prior.</span></p><p><span style="font-weight: 400">Another standout aspect of the company is its Contractor Connection database, which lists thousands of vetted, licensed and insured contractors and guarantees their work with a five-year warranty.</span></p><p><a href="https://money.com/amica-homeowners-insurance-review/">Read our full review of Amica Homeowners Insurance.</a></p><p><a href="https://secure.money.com/pr/l54ed2417c44?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-home-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-home-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=l54ed2417c44&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Coverage for homes up to $100 million</li><li>Robust cybersecurity coverage</li><li>Coverage for properties outside the United States</li><li>High rating in J.D. Power's Home Insurance Study</li></ul><h3>Cons</h3><ul><li>Customers have to buy more than one policy with the company</li><li>No homeowners insurance coverage in California</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Financial rating:</dt><dd>A (Excellent) on A.M. Best</dd></dl><dl><dt>Discounts:</dt><dd>Undisclosed</dd></dl><dl><dt>Bundling options:</dt><dd>Undisclosed</dd></dl><hr><p><b>Why we chose AIG:</b><span style="font-weight: 400"><a href="https://secure.money.com/pr/s4408b75c147?ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-home-insurance%2F&apnavid=81bb56bc1e7f4fa2050937fbf8cc2b3f"> AIG</a> is known as a luxury insurer that provides comprehensive coverage, from dwelling to cybersecurity insurance, for high-value properties worth up to $100 million.</span></p><p><span style="font-weight: 400">AIG offers guaranteed replacement cost (without any limits, according to the company) for homes valued from $750,000 all the way up to $100 million on an “all-risk” basis — meaning its policy covers all perils except the few specifically excluded.</span></p><p><span style="font-weight: 400">It also offers the option of ultra-high deductibles (up to $100,000). This could help significantly lower your premium, but you’ll also pay a lot more out of pocket.</span></p><p><span style="font-weight: 400">In addition to standard coverage, AIG offers services such as: kidnap, ransom and extortion coverage, landscaping coverage, multinational property coverage and business property coverage.</span></p><p><a href="https://money.com/aig-homeowners-insurance-review/">Read our full review of AIG Homeowners Insurance.</a></p><p><a href="https://secure.money.com/pr/dcf008328e98?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-home-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-home-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=dcf008328e98&type=image" /></a></p><hr><h3>Pros</h3><ul><li>10% bundling discount when paired with car insurance policy</li><li>Home Sharing coverage available</li><li>Superior financial strength ratings</li></ul><h3>Cons</h3><ul><li>Only available to military personnel and their families</li><li>Home Sharing coverage not available in all 50 states</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Financial rating:</dt><dd>A++ (Superior) on A.M. Best</dd></dl><dl><dt>Discounts: </dt><dd> Bundling, protection devices, detection devices, multi-product (bundling with auto earns 10% discount, additional policies earn 5% discount), loyalty, claim-free</dd></dl><dl><dt>Bundling options:</dt><dd>Auto</dd></dl><hr><p><b>Why we chose USAA:</b><span style="font-weight: 400"> For those who qualify, <a href="https://money.com/pr/mbe6006b43f2?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-home-insurance%252F">USAA</a> offers a great combination of low premiums and broad coverage, along with outstanding customer satisfaction and financial stability ratings.</span></p><p><span style="font-weight: 400">USAA is among the few home insurers that include Guaranteed Replacement Cost coverage as standard, which allows homeowners to replace items rather than receive the depreciated value.</span></p><p><span style="font-weight: 400">The company is also known for its low premiums. If you qualify for membership with USAA, it would be difficult to find better home insurance rates and coverage for property damage.</span></p><p><span style="font-weight: 400">The company is one of the few — along with Erie and Allstate — to offer, at additional cost, home-sharing coverage as an alternative to buying such insurance through Airbnb or Vrbo. Typically, damage to paying guests is not covered under a standard homeowners insurance policy.</span></p><p><a href="https://money.com/usaa-homeowners-insurance-review/">Read our full review of USAA Homeowners Insurance.</a></p><h2><span style="font-weight: 400"></span></h2><p><a href="https://secure.money.com/pr/f5a7dc0eced5?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-home-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-home-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=f5a7dc0eced5&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Masterpiece homeowners policy covers properties valued at over $1M</li><li>Covers the cost to rebuild or repair even if it exceeds the policy's limit</li><li>Offers a cash payout settlement if you don't rebuild or repair the property</li><li>Coverage for traumatic experiences such as child abduction and home invasions</li></ul><h3>Cons</h3><ul><li>More expensive than average, focuses most on high-end customers</li><li>No online quotes and only sells through local insurance agents</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Financial rating: </dt><dd>Superior (A++) on A.M. Best</dd></dl><dl><dt>Discounts: </dt><dd>Security and safety systems, new or renovated home, gated community, loyalty, claim-free, autopay, electronic bill, alarm system and more.</dd></dl><dl><dt>Bundling options: </dt><dd>Auto, renters, life, and umbrella</dd></dl><hr><p><strong>Why we chose Chubb:</strong> The Masterpiece policy from<a href="https://money.com/pr/t31796add3da?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-home-insurance%252F"> Chubb</a> offers unique benefits beyond the standard homeowners insurance policy, such as risk consulting services, coverage against hijacking, home invasions and more. A standout benefit is that policyholders can opt to get a cash settlement up to the policy’s limit if, after damages, they choose not to rebuild the property or opt to rebuild someplace else. Chubb’s private flood insurance also exceeds the industry standard. Homes are covered up to $15 million against flood damage, compared to the NFIP’s $250,000 maximum.</p><p>These rare benefits come at a cost. Chubb is widely regarded as one of the most expensive home insurers on the market, but if its rates fit your budget, it’s an excellent choice. The insurer consistently ranks in the top three in J.D. Power Customer Satisfaction Surveys year over year and has one of the lowest NAIC complaint indexes out of all the insurers we reviewed.</p><p><a href="https://secure.money.com/pr/hf4e59b89c5e?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-home-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-home-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=hf4e59b89c5e&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Available in 47 states and Washington, D.C.</li><li>Ranks above average in J.D. Power's Property Claims Satisfaction Study</li><li>Partnered with Wildfire Defense Systems to provide free fire prevention and risk management</li><li>Large variety of coverage types, great for bundling discounts</li></ul><h3>Cons</h3><ul><li>Fewer discounts than other large insurers</li><li>Only accessible through State Farm agents</li><li>No longer accepting applications from California residents</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Financial rating:</dt><dd>A++ (Superior) on A.M. Best</dd></dl><dl><dt>Discounts:</dt><dd>Bundling, home security systems, resistant roofing</dd></dl><dl><dt>Bundling options:</dt><dd>Auto, renters, life</dd></dl><hr><p><b>Why we chose State Farm: </b><span style="font-weight: 400"><a href="https://secure.money.com/pr/x00a98ea0075">State Farm</a> is the largest home insurance company in the United States and offers a wide variety of policies, from life to car to condo. This gives customers the chance to bundle in various ways and not only get discounts but also have a more streamlined experience overall. </span></p><p><span style="font-weight: 400">One drawback to State Farm, though, is that the company only works through captive agents. However, its agent network is extensive — close to 19,000 by some estimates — and covers almost every state, so prospective customers should have no trouble finding assistance with their applications.</span></p><p><a href="https://secure.money.com/pr/x83a11368c9c?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-home-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-home-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=x83a11368c9c&type=image" /></a></p><h2><span style="font-weight: 400">Other companies we considered</span></h2><p><span style="font-weight: 400">The following insurance companies didn’t quite meet one or several of our methodology criteria. However, they still offer features and benefits that could make them a good choice for some customers.</span></p><p><span style="font-weight: 400">Read on to see if one of these companies might fit your specific needs.</span></p><h3><a href="https://money.com/pr/uc46e283def3?apxa2=pushnami&apxa3=20210105&%3Bapxa1=%2Fbest-home-insurance%2F&%3Bca_referer=money.com%2Fbest-home-insurance%2F%3Apushnami%3A20210105%3ALemonade&%3Bapxp1=Lemonade&%3Bap_referrer=https%3A%2F%2Fmoney.com%2Fbest-home-insurance%2F"><span style="font-weight: 400">Lemonade</span></a></h3><p><b>Why it didn’t make the cut:</b><span style="font-weight: 400"> Lemonade Insurance is an online-only insurance company that uses artificial intelligence to provide notably fast home insurance quotes. However, Lemonade has an alarming number of complaints lodged against it with the NAIC relative to its small market share — it sells home insurance in just 30 states.</span></p><h3><a href="https://money.com/pr/kbf5b2c0e39f?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-home-insurance%252F"><span style="font-weight: 400">Erie Insurance</span></a></h3><p><b>Why it didn’t make the cut:</b><span style="font-weight: 400"> Erie’s is one of the country’s top insurers when it comes to customer service and claims satisfaction. Unfortunately, it’s only available to homeowners in 12 states and Washington D.C. If you’re looking to insure your home in a state serviced by Erie, make sure to get a quote to see if it’s the right fit.</span></p><p><a href="https://money.com/erie-homeowners-insurance-review/"><span style="font-weight: 400">Read our full review of Erie Homeowners Insurance.</span></a></p><h3><a href="https://money.com/pr/b00acee93c0a?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-home-insurance%252F"><span style="font-weight: 400">Allstate</span></a></h3><p><b>Why it didn’t make the cut:</b><span style="font-weight: 400"> Allstate didn’t make our list because it fell slightly short in terms of customer satisfaction and overall features compared to competitors. It also recently announced that it will no longer accept applicants from the state of California.</span></p><h2><span style="font-weight: 400">A guide to homeowners insurance</span></h2><p><a href="https://money.com/what-is-homeowners-insurance/"><span style="font-weight: 400">Homeowners insurance</span></a><span style="font-weight: 400"> coverage is a type of property insurance that provides financial compensation if your home is damaged by certain natural disasters, theft and/or accidents. This type of insurance does not cover flooding or earthquakes, which require a different type of coverage.</span></p><h3><span style="font-weight: 400">How much does home insurance cost?</span></h3><p><span style="font-weight: 400">Home insurance premiums vary from company to company, but will also depend on the location, style, square footage and age of your home. Personal factors such as your credit score and claims history will also affect your rates. </span></p><p><span style="font-weight: 400">According to a </span><a href="https://consumerfed.org/press_release/new-report-finds-american-homeowners-faced-24-increase-in-homeowners-insurance-premiums-over-the-past-three-years/"><span style="font-weight: 400">report</span></a><span style="font-weight: 400"> by the Consumer Federation of America (CFA), typical homeowners paid over $3,000 to insure their property. This figure represents an alarming average increase of 24% since 2021. Overall, the report finds that Florida, Louisiana, Oklahoma, Kentucky, and Nebraska are the most expensive states to insure a home. But Utah saw the sharpest jump in premiums at 59%.</span></p><h3><span style="font-weight: 400">Home insurance discounts</span></h3><p><span style="font-weight: 400">One of the most common discounts among insurance companies is the multi-policy discount or bundling discount. In some cases, this could save you over $1,000 a year.</span></p><p><span style="font-weight: 400">Insurers also reduce your rate for automatic payments, electronic statements, paying the annual policy cost upfront, insuring a brand new home and even for installing protective devices like burglar and smoke alarms.</span></p><h3><span style="font-weight: 400">What does homeowners insurance cover?</span></h3><p><span style="font-weight: 400">Most standard policies cover the following:</span></p><ul><li style="font-weight: 400"><b>Dwelling coverage:</b><span style="font-weight: 400"> This covers the main structure of the property — namely, the actual house — from ten basic perils: fire, lightning, hail, windstorms, explosions, civil unrest, aircraft damage, vehicle damage, smoke damage, vandalism, theft and volcano eruption.</span></li><li style="font-weight: 400"><b>Personal property coverage:</b><span style="font-weight: 400"> Standard insurance will typically cover personal belongings up to a certain percentage of your overall home insurance coverage. This percentage will vary by policy. Homeowners should consider an add-on to cover valuable items like jewelry, art collections, and other precious possessions.</span></li><li style="font-weight: 400"><b>Personal liability coverage:</b><span style="font-weight: 400"> Liability protection covers injuries suffered by non-residents of your household while on your property. It could cover medical payments and legal costs, depending on the policy.</span></li><li style="font-weight: 400"><b>Other structures:</b><span style="font-weight: 400"> This covers detached structures such as fences, gazebos or tool sheds affected by covered perils.</span></li><li style="font-weight: 400"><b>Additional living expenses (ALE) or loss of use coverage:</b><span style="font-weight: 400"> When a covered loss makes your home unlivable, most homeowners insurance policies will reimburse you for temporary housing, like hotels or rentals, up to your coverage limits.</span></li></ul><h2><span style="font-weight: 400">What is excluded from homeowners insurance?</span></h2><p>The perils listed in the table below are typically excluded from standard homeowners insurance policies.</p><figure class="image-wrapper no-caption"><img loading="lazy" class="wp-image-5846491 size-portrait_small_2x aligncenter" role="img" src="https://img.money.com/2023/06/perils-excluded.svg" alt="infographic on the perils excluded from homeowners insurance" width="2000" height="2000" align="none" /></figure><h3><span style="font-weight: 400">Other weather-related exclusions</span></h3><p><span style="font-weight: 400">Though floods are excluded from standard home insurance policies, you’ll be required to purchase </span><a href="https://money.com/best-flood-insurance/"><span style="font-weight: 400">flood insurance</span></a><span style="font-weight: 400"> if the Federal Emergency Management Agency (FEMA) determines that your property is in a flood zone.</span></p><p><span style="font-weight: 400">The National Flood Insurance Program (NFIP) provides flood insurance for property owners, renters, and businesses in 23,000 participating NFIP communities. Visit </span><a href="https://www.floodsmart.gov/"><span style="font-weight: 400">FloodSmart.gov</span></a><span style="font-weight: 400"> for more information. </span></p><p><span style="font-weight: 400">Most homeowners insurance policies cover </span><a href="https://money.com/does-homeowners-insurance-cover-water-damage/"><span style="font-weight: 400">water damage</span></a><span style="font-weight: 400"> caused by a covered peril (for example, a vehicular accident breaking a pipe). However, if the cause is something not listed in the policy, such as a hurricane, water backup, or a DIY home renovation accident, it will not be covered.</span></p><p><span style="font-weight: 400">Depending on where you live, there may be additional weather-related exclusions. For example, homeowners’ insurance policies issued for coastal homes in Texas don’t cover wind or hail damage.</span></p><p><span style="font-weight: 400">In Eastern coastal states, hurricanes and windstorms have a special type of deductible based on a percentage of your chosen coverage amount. This is mostly regulated by state laws. For more on your specific state, visit the </span><a href="https://www.iii.org/article/background-on-hurricane-and-windstorm-deductibles"><span style="font-weight: 400">Insurance Information Institute</span></a><span style="font-weight: 400">.</span></p><p><span style="font-weight: 400">Earthquake damage is typically excluded from home insurance policies. You can get coverage for this peril through a rider or by buying a separate policy. Checking with the largest earthquake insurer in the state, the </span><a href="https://www.earthquakeauthority.com/"><span style="font-weight: 400">California Earthquake Authority</span></a><span style="font-weight: 400">, is a good start.</span></p><p><span style="font-weight: 400">Most home insurance policies cover wildfire damage. However, some companies have stopped offering this coverage in places with a high risk of wildfires or made adjustments involving this specific peril. Check locally available insurance companies to see if they still offer wildfire coverage in your area or explore alternative options like your state’s FAIR Plan (e.g., </span><a href="https://www.cfpnet.com/"><span style="font-weight: 400">California FAIR Plan</span></a><span style="font-weight: 400">).</span></p><p><span style="font-weight: 400">For additional information, read our in-depth guide on </span><a href="https://money.com/what-is-homeowners-insurance/"><span style="font-weight: 400">how homeowners’ insurance works</span></a><span style="font-weight: 400">. </span></p><h3><span style="font-weight: 400">How to choose the best homeowners insurance</span></h3><p><span style="font-weight: 400">To </span><a href="https://money.com/how-to-buy-home-insurance/"><span style="font-weight: 400">choose the best homeowners insurance</span></a><span style="font-weight: 400"> company, there are a few factors you should keep in mind. These include the price of the policy and what it covers, the value of your home and personal belongings, and more.</span></p><h4><span style="font-weight: 400">Assess your home insurance needs</span></h4><p><span style="font-weight: 400">Before you can choose the right type and level of coverage, you have to assess your home insurance needs. When doing so, take into account the following:</span></p><ul><li style="font-weight: 400"><b>Your area</b><span style="font-weight: 400">: If you live in a flood zone or a state like Florida or California, where natural disasters are a frequent concern, you may need additional coverage.</span></li></ul><ul><li style="font-weight: 400"><b>Home features</b><span style="font-weight: 400">: If you live in a historical building or have made recent, expensive renovations, you might need a policy that offers guaranteed replacement cost so you can rebuild your home as close to its previous state as possible.</span></li><li style="font-weight: 400"><b>Belongings</b>: Make an inventory of your belongings and invest in additional coverage for precious items such as jewelry or collectibles. While most policies cover personal belongings, there’s generally a limit, and high-value items won’t be covered in full.</li></ul><h4><span style="font-weight: 400">Consider the extras</span></h4><p><span style="font-weight: 400">Depending on your living situation, standard insurance products might not be enough.</span></p><p><span style="font-weight: 400">Check what types of endorsements — also known as</span><a href="https://money.com/what-are-insurance-riders/"><span style="font-weight: 400"> insurance riders or add-ons</span></a><span style="font-weight: 400"> — each company offers. These will increase your annual premium, but it might be worth it if it means protecting valuable assets such as jewelry or collectibles.</span></p><p><span style="font-weight: 400">With certain companies, you can also get protection for more specific issues such as water damage, identity theft, cybersecurity threats and even kidnapping.</span></p><h4><span style="font-weight: 400">Find the best homeowners insurance companies in your state</span></h4><p><span style="font-weight: 400">The next step should be to find insurers, both national and local, that work in your state. Then, get multiple quotes, look at their coverage, financial strength ratings, customer satisfaction scores, complaints, etc.</span></p><p><span style="font-weight: 400">Though national carriers have name-brand recognition and larger market share, small, regional providers may offer better customer service, personalized coverage and competitive rates. </span></p><p><span style="font-weight: 400">You can find insurers in your state or county through your local government’s insurance department — their contacts can be found on the pages of the </span><a href="https://content.naic.org/state-insurance-departments?field_contact_state_department_target_id=1028"><span style="font-weight: 400">National Association of Insurance Commissioners (NAIC)</span></a><span style="font-weight: 400"> or the </span><a href="https://www.iii.org/services/directory/company-categories/state-insurance-departments"><span style="font-weight: 400">Insurance Information Institute</span></a><span style="font-weight: 400">. </span></p><hr><h2>Homeowners Insurance FAQs</h2><h3>How much is homeowners insurance?</h3><p>The average cost of homeowners insurance in the US is $1,200 per year or $100 per month. However, homeowners' insurance rates vary substantially depending on your home's specific situation and condition, how much coverage you want, and where you live.</p><h3>Is homeowners insurance required?</h3><p>Homeowners insurance is not required by state or federal law. However, practically all lenders will require homeowners insurance as part of your mortgage agreement.</p><h3>Does home insurance cover mold?</h3><p>As with many issues, mold is covered by homeowners insurance if the cause is a covered peril. If the mold is caused by a peril that's not listed in your policy (such as flooding) or negligence by the homeowner, it will not be covered.</p><h3>Does homeowners insurance cover water damage?</h3><p>Water damage caused by a covered peril (for example, a vehicular accident breaking a pipe) will be covered by most homeowners insurance policies. If the cause is something that's not listed in the policy, such as a hurricane or a DIY home renovation accident, it will not be covered.</p><h3>What is the 80% rule in homeowners insurance?</h3><p>Most insurers abide by the 80% rule, which states they will only reimburse you for the full cost of damages to your home if your coverage equals at least 80% of the property's value.</p><p>However, even a policy that covers 100% of your home's value won't guarantee the insurer will pay the full amount needed to repair your home. Read your policy carefully and consult with an agent if you have questions.</p><h3>Which is the best home insurance company?</h3><p>If you focus solely on customer satisfaction, the best home insurance companies are Amica Mutual and Erie Insurance. However, Lemonade and Hippo offer streamlined claims processing and allow you to purchase coverage online in just a few minutes. In short, the best insurer will depend on what you're looking for and where you live, as not all companies are available nationwide.</p><hr><h2><span style="font-weight: 400">How we chose the best homeowners insurance companies:</span></h2><p><span style="font-weight: 400">To select the best homeowners insurance companies, we reviewed the following factors.</span></p><ul><li style="font-weight: 400"><b>Customer satisfaction:</b><span style="font-weight: 400"> We reviewed J.D. Power’s 2025 U.S. Property Claims Satisfaction Study and the 2024 U.S. Home Insurance Study to gauge customer satisfaction with the insurers on our list. We also looked at the NAIC Complaint Index of select subsidiaries with the largest homeowners insurance market share. With few exceptions, we selected companies with above-average J.D. Power ratings and a low NAIC complaint index.</span></li><li style="font-weight: 400"><b>Financial strength:</b><span style="font-weight: 400"> We looked at financial ratings from agencies like AM Best and Demotech to ensure that the companies on our list are financially sound and able to meet their insurance obligations.</span></li><li style="font-weight: 400"><b>Coverage options:</b><span style="font-weight: 400"> Coverage options vary little among insurers. We took special note of companies that offered flood insurance and other riders, such as extended replacement cost coverage and the option to get a cash settlement.</span></li><li style="font-weight: 400"><b>Market share:</b><span style="font-weight: 400"> Our top picks prioritized carriers that were available nationwide and had a sizable market share. For this, we referenced the NAIC’s </span><a href="https://content.naic.org/sites/default/files/research-actuarial-property-casualty-market-share.pdf"><span style="font-weight: 400">2024 Property/Casualty Market Share</span></a><span style="font-weight: 400"> report. </span></li></ul><h2><span style="font-weight: 400">Latest news in homeowners insurance</span></h2><p><span style="font-weight: 400">Money </span><a href="https://money.com/home-insurance-satisfaction-drops/"><span style="font-weight: 400">reports</span></a><span style="font-weight: 400"> the results of the latest J.D. Power Property Claims Satisfaction Study: While home insurance premiums are on the rise and the industry is raking in the profits, customer satisfaction is taking a nose dive. Many customers express frustration over slow service, particularly with claims and repairs that are dragging on for more than a month. Clients who didn’t file a claim are also seeing premium increases, further aggravating the people’s frustration with their carriers.</span></p><p><span style="font-weight: 400">A.M Best, the insurance industry’s benchmark for financial stability, reports that the National Oceanic and Atmospheric Administration (NOAA) plans to sunset a database that’s crucial for insurers to set prices and determine risk. This database has been tracking climate disasters that caused damages of at least $1 billion for over 40 years. It’s an irreplaceable tool, particularly as </span><span style="font-weight: 400">the frequency and intensity of extreme weather events increase. Finding an alternative won’t be that easy, either — the NOAA’s database was created in 1980 and building something comparable to the original will take years.</span></p><h2><span style="font-weight: 400">Homeowners insurance FAQs</span></h2><h3><span style="font-weight: 400">Is homeowners insurance required?</span></h3><p><span style="font-weight: 400">Homeowners insurance is not required by state or federal law. However, practically all lenders will require homeowners insurance as part of your mortgage agreement.</span></p><h3><span style="font-weight: 400">Does home insurance cover mold?</span></h3><p><span style="font-weight: 400">As with many issues, mold is covered by homeowners insurance if the cause is a covered peril. If the mold is caused by a peril that’s not listed in your policy (such as flooding) or negligence by the homeowner, it will not be covered.</span></p><h3><span style="font-weight: 400">What is the 80% rule in homeowners insurance?</span></h3><p><span style="font-weight: 400">Most insurers abide by the 80% rule, which states they will only reimburse you for the full cost of damages to your home if your coverage equals at least 80% of the property’s value.</span></p><p><span style="font-weight: 400">However, even a policy that covers 100% of your home’s value won’t guarantee the insurer will pay the full amount needed to repair your home. Read your policy carefully and consult an insurance agent if you have questions.</span></p><h2><span style="font-weight: 400">Summary of Money’s best homeowners insurance companies of 2025</span></h2><ul><li style="font-weight: 400"><a href="https://money.com/best-home-insurance/#amica"><span style="font-weight: 400">Amica Mutual</span></a><span style="font-weight: 400"> – Best Overall</span></li><li style="font-weight: 400"><a href="https://money.com/best-home-insurance/#AIG"><span style="font-weight: 400">AIG</span></a><span style="font-weight: 400"> – Best for High-Value Homes</span></li><li style="font-weight: 400"><a href="https://money.com/best-home-insurance/#usaa"><span style="font-weight: 400">USAA</span></a><span style="font-weight: 400"> – Best Home Insurance Company for Military Members</span></li><li style="font-weight: 400"><span style="font-weight: 400"><a href="#chubb">Chubb</a> – Best for Diversity of Coverage Benefits</span></li><li><span style="font-weight: 400"><a href="#statefarm">State Farm</a> – Best for Bundling Policies</span></li></ul>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5986121</post-id> <media:thumbnail url="https://img.money.com/2025/07/Best-Homeowners-Insurance1-mbci_5mcy3__8uos3x.jpg?quality=85" /> <media:content url="https://img.money.com/2025/07/Best-Homeowners-Insurance1-mbci_5mcy3__8uos3x.jpg?quality=85" medium="image"> <media:title type="html">Best-Homeowners-Insurance</media:title> </media:content> <media:content url="https://img.money.com/2023/06/perils-excluded.svg" medium="image"> <media:title type="html">infographic on the perils excluded from homeowners insurance</media:title> </media:content> </item> </channel></rss> If you would like to create a banner that links to this page (i.e. this validation result), do the following:
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