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Best Reverse Mortgage Companies of May 2025

May 2, 2025 Ogghy Filed Under: Money.com, SUCCESS

* Sample rates are based on the most recent government data on reverse mortgages, issued in November 2024.

Reverse mortgages are one of the many tools you can use to access your home equity and turn it into cash — but not everyone can use them.

With reverse mortgages, only homeowners of a certain age are eligible. For the government-backed kind — called Home Equity Conversion Mortgages (HECMs) — you must be 62 to qualify. Other lenders offer proprietary options that allow seniors 55 and up to apply.

For those who are eligible, they can be helpful tools as you enter retirement, giving you access to much-needed cash at a time when your income might be limited. And the best part? They come with no monthly payments.

Are you considering a reverse mortgage? Here are the best lenders to choose from.

What to know about reverse mortgages

Reverse mortgages allow you to turn your home equity into cash. You can receive the funds as a one-time payment, monthly payments, a line of credit or a combination of these options.
Only seniors are eligible — those 62 and up for HECMs and 55 and up for proprietary programs.
There are no monthly payments with reverse mortgages. You only repay the money once you sell the house, move out permanently or die.
Major banks or credit unions don’t typically offer reverse mortgages, so you’ll need to shop around to ensure you get the best deal.

How we chose our top picks

Our editors and writers reviewed over 20 reverse mortgage lenders throughout the U.S., using government data, lender websites and lender representatives to confirm data accuracy. We then used factors such as product variety, interest rates, reputation, maximum loan amounts, age requirements and geographic availability to score each lender on a one-to-five scale. What you see below are the top companies that emerged.

Read our full methodology to learn more about our approach.

Our Top Picks for Reverse Mortgage Lenders

Finance of America: Best Overall
Northwest Reverse Mortgage: Best for Comparison Shopping
Longbridge Financial: Best for Coverage Options
South River Mortgage: Best for Refinancers
Guild Mortgage: Best for Low Rates
Fairway: Best for Homebuyers

Best reverse mortgage companies reviews

Pros

55 age minimum
No notable regulatory actions or lawsuits
Strong reviews and ratings

Cons

Middle-of-the-road interest rates
Not available in all 50 states

HIGHLIGHTS

Product types: HECM, proprietary/jumbo reverse mortgage, second-lien credit line

Maximum loan amount: $4 million

Minimum age: 55

Average HECM rate (Nov. 2024): 6.36%

Why we chose it: Finance of America clocked in with the highest score out of all the reverse mortgage companies we considered, with a 4.4 out of 5 rating. Its loan product variety, wide availability, strong ratings and variety of online resources and tools make it a good option for a large swath of potential borrowers. It also has a strong reputation in the industry and has no NMLS actions or notable lawsuits to its name within the last five years.

Pros

Wide variety of products
55 age minimum
Strong reviews and ratings

Cons

Only available in 28 states
No rate data available

HIGHLIGHTS

Product types: HECM, HECM for purchase, proprietary/jumbo reverse mortgage (four different kinds)

Maximum loan amount: $4 million

Minimum age: 55

Average rates (Nov. 2024): Not available

Number of states served: 28

Why we chose it: If you’re looking for choices, Northwest Reverse Mortgage is the company to consider. The niche mortgage broker offers access to an expansive list of reverse mortgage options, including HECMs for purchase and four kinds of proprietary and jumbo reverse mortgages, including some from Finance of America and Longbridge (other winners on our list). The only drawback is its limited geographic availability. Borrowers in just 28 states can use Northwest’s services.

Pros

55 age minimum
Available in all 50 states
Strong reviews and ratings

Cons

Middle-of-the-road interest rates

HIGHLIGHTS

Product types: HECM, HECM for purchase, proprietary/jumbo reverse mortgage

Maximum loan amount: $5 million

Minimum age: 55

Average rates (Nov. 2024): 6.39%

Number of states served: 50

Why we chose it: Regardless of where you live in the U.S., Longbridge Financial is a solid choice for reverse mortgage loans, lending to borrowers in all 50 states plus Washington, D.C. The lender boasts strong reviews and ratings, has no regulatory actions against it over the last five years, and its online resources and tools are plentiful, making it a great option for new borrowers just getting their feet wet.

Pros

Low interest rates
Lots of experience in HECM refinances
Strong reviews and ratings

Cons

Not available in all 50 states

HIGHLIGHTS

Product types: HECM, HECM for refinance, proprietary/jumbo reverse mortgage

Maximum loan amount: $4 million

Minimum age: 55

Average rates (Nov. 2024): 6.24%

Number of states served: 28

Why we chose it: If you already have a HECM and are considering refinancing to access more cash or get a better interest rate, South River Mortgage is worth a look, as the lender has extensive experience with HECMs for refinancing. South River also boasts strong online ratings, has no regulatory actions against it, and came in with some of the lowest average interest rates of all the lenders we analyzed.

Pros

Low interest rates
Very strong reviews and ratings
Wide product variety

Cons

Not available in New York

HIGHLIGHTS

Product types: HECM, HECM for purchase, HECM for refinance, proprietary/jumbo reverse mortgage

Maximum loan amount: $4 million

Minimum age: 62

Average rates (Nov. 2024): 6.16%

Number of states served: 49

Why we chose it: Among large, nationwide reverse mortgage lenders, Guild Mortgage offered the lowest HECM rates, with an average of just 6.16% in November 2024 — nearly 0.75 points lower than the highest-rate lender we analyzed. Guild is also highly accessible, serving 49 states, has no regulatory actions against it in recent history, and boasts strong customer ratings (5 out of 5 on Zillow on over 42,000 reviews).

Pros

Wide product variety
Available in all 50 states
E-closings available

Cons

BBB rating could be better
Higher-than-average rates
Recent customer data breach

HIGHLIGHTS

Product types: HECM, HECM for purchase, second-lien HELOC, proprietary/jumbo reverse mortgage

Maximum loan amount: $4 million

Minimum age: 62

Average rates (November 2024): 6.46%

Number of states served: 50

Why we chose it: Not all lenders offer HECMs you can use for home purchases, but Fairway does. Combine that with its wide availability, deep library of online tools and resources, and its e-closing option, which lets you finalize your loan remotely, and you’ve got a lender that can help make your next home purchase much easier.

Other Companies We Considered

All Reverse Mortgage

All Reverse Mortgage actually had the second-highest score of all lenders we considered, but its limited geographic footprint — just 13 states — held it back. However, if you happen to be in one of the places it serves, count yourself lucky: The lender offers the lowest average HECM rates (just 5.99%) and the most robust set of online tools and resources around. Its squeaky-clean record and loads of high-scoring customer reviews are notable, too.

Atlantic Avenue Mortgage

Atlantic Avenue Mortgage also boasted ultra-low interest rates compared to other reverse mortgage lenders on our list, but again, its accessibility is limited, offered in just 27 states. If you live in one of those states, though, choosing Atlantic could save you quite a bit on interest. The lender boasts an average 6.05% HECM rate, as of the most recent government data.

Mutual of Omaha

Mutual of Omaha is a well-known name in the reverse mortgage space and is one of the biggest originators by volume. Unfortunately, the lender faces several regulatory actions and lawsuits, and its website is less than helpful for newbie borrowers.

What You Need to Know About Reverse Mortgage Loans

Reverse mortgage loans function a little differently than other types of mortgage loans and home equity products. Before you apply for one, here’s what you should know.

What is a reverse mortgage?

A reverse mortgage is similar to a traditional mortgage, only it works in reverse: Instead of the borrower paying the lender, the lender pays the borrower out of the available home equity.

Reverse mortgages are only available for senior homeowners, and they’re often used to help supplement Social Security or other limited forms of income in retirement.

How does a reverse mortgage work?

Reverse mortgages work by letting you borrow from your home equity — or the stake in your home that you own outright.

The exact amount you can borrow depends on your age and the value of your home, and you can usually choose from several payout options:

A credit line, which allows you to borrow money as needed over time (like a credit card)
A lump sum payment, giving you your equity funds all at once
Monthly payments, paying you a set amount each month
Some combination of the above

For HECMs, you must be 62 or older, and with some lenders, you can get a proprietary reverse mortgage at age 55. Most lenders require you to have at least a 50% equity stake in your home to qualify — meaning your current mortgage loan balance is less than 50% of your home’s value. Additionally, you must attend a counseling session with an independent service to ensure you understand the pros and cons of reverse mortgages as part of the application process.

You also must stay up to date on your property taxes, home insurance and home maintenance during your reverse mortgage term. If you don’t, the lender can foreclose on the property.

Types of reverse mortgages

There are several types of reverse mortgages. The most popular type is the Home Equity Conversion Mortgage (HECM), which is the government’s version of a reverse mortgage. It’s insured by the Federal Housing Administration and, depending on the lender, can sometimes be used to purchase another property.

There are also proprietary reverse mortgages, which are programs unique to the private lenders that offer them. They may allow for younger borrowers, large loan amounts or less equity. Many lenders that offer these options allow for ages as low as 55 and loan amounts of up to $4 million. Sometimes, these are called jumbo reverse mortgages.

Finally, there are single-purpose reverse mortgages. As the name suggests, these can only be used for a designated purpose, such as paying for home repairs. They’re typically offered by state and local governments.

How to choose a reverse mortgage lender

Choosing the right lender is important when considering a reverse mortgage. For one, products and interest rates can vary widely by lender. But more than that, scams are common in the reverse mortgage industry, and if you’re not careful, you or a loved one could fall victim.

To ensure you choose the right lender, always consider:

Reputation, including Better Business Bureau, Trustpilot and J.D. Power ratings and reviews
Regulatory actions and lawsuits, paying special attention to any actions noted in the Nationwide Mortgage Licensing System
Eligibility requirements, such as equity and age minimums
Availability, as not all lenders serve borrowers in every state
Loan products, especially if you are looking for a higher loan amount or lower age minimum than HECMs allow for

If you’re not sure what reverse mortgage lender to use, consult a financial professional you trust before applying.

How is a reverse mortgage paid?

Reverse mortgages don’t come with monthly payments, as traditional mortgages do.

While they do accrue interest, you won’t pay for that interest or the money you borrow until one of the following occurs:

You sell your house
You move away for six months or more (this includes moving to an assisted living facility or similar arrangement)
You pass away

You can always repay all or a portion of a reverse mortgage before these circumstances arise, of course. This would reduce the long-term interest you owe on your loan.

Pros and cons of reverse mortgages

Pros

No monthly paymets
Allows you to age in place at home
Several payout options
Can supplement income in retirement
Easy to qualify for

Cons

May leave your heirs with unpaid debts
Can come with high upfront fees
Reduces the amount of equity you have in your home
You must stay up to date on taxes, insurance and maintenance or the lender can foreclose
Scams are common in the industry

Alternatives to reverse mortgages

A reverse mortgage isn’t the only option if you need money as you age.

You can also look to a:

Cash-out refinance: This involves replacing your current mortgage loan with a larger one, but it can provide you with a lump sum of cash to work with. You’ll need to make monthly payments just as you would with your existing loan. Just be careful, as it replaces your rate and loan term, too, which may not be a good idea if interest rates have increased since you took out your original loan.
Home equity loan: A home equity loan is another way to turn your equity into cash. This provides you with a lump sum of money after closing, which you can use for any purpose. You’ll repay the money via fixed monthly payments for anywhere from five to 30 years.
HELOC: A home equity line of credit (HELOC) is similar to a home equity loan, although it works more like a credit card, allowing you to withdraw money as you need it over a long period of time (usually 10 years).
Home equity sharing agreement: Home equity sharing agreements allow you to sell a portion of your home’s future value to an investor in exchange for a lump sum payment. You then pay the investor their portion of your home’s value once you sell the home or your agreement’s term comes to an end. Like reverse mortgages, these require no monthly payments.

You can also consider a credit card or personal loan for cash, too, though these typically come with higher rates than mortgage and home equity products.

Latest Reverse Mortgage News

Homeowners are gaining about $30,000 annually in home equity, according to recent data, making reverse mortgages a solid option for older homeowners who need cash or help paying for retirement.

Be careful, though, as scams and fraud happen in this industry. Lenders also move in and out of the reverse mortgage space often, so it’s important to shop around thoroughly before deciding where to get your loan. For example, Open Mortgage is now offering wholesale lending only, while AAG — American Advisors Group — is now a part of Finance of America, our overall pick for best reverse mortgage lender.

FAQ

How do I pick a reverse mortgage lender?

You should consider product options, geographic availability, interest rates, age minimums, loan amounts and, perhaps most importantly, reputation, as scams happen regularly in the reverse mortgage industry.

Can you lose your home with a reverse mortgage?

Yes, you can lose your home with a reverse mortgage if you fail to stay up to date on your property taxes, home insurance or home maintenance. These are required when you take out a reverse mortgage.

What would disqualify me from a reverse mortgage?

Reverse mortgages have strict age minimums, so if you’re not old enough, you won’t qualify. You also may not qualify for a reverse mortgage if you don’t have enough equity in the home, you don’t have the funds to pay for ongoing property taxes, insurance or maintenance, or you’ve moved out of the home into a long-term care facility.

Methodology

We evaluated nearly two dozen reverse mortgage lenders nationwide. Gathering data on product terms, qualifying requirements, interest rates, availability, reputation and other factors to zero in on the best ones. Lenders were rated on a one-to-five scale based on eight categories: product variety (10%), maximum loan amount (10%), age minimum (10%), online resources (10%), average rates (15%), states served (15%), lawsuits/regulatory actions (15%) and ratings/reviews (15%).

We prioritized companies that:

Had no lawsuits and no regulatory actions listed in the Nationwide Mortgage Licensing System in the last five years
Offered low average interest rates on HECMs (as measured from government data on reverse mortgages issued in November 2024)
Boast high ratings on Better Business Bureau, Zillow, Google and Trustpilot
Have low age minimums and wide geographic availability, allowing more borrowers access to their products
Offer several reverse mortgage products, including HECMs, jumbo products and proprietary loans

Summary of our Top Picks for Reverse Mortgage Lenders

Finance of America: Best Overall
Northwest Reverse Mortgage: Best for Comparison Shopping
Longbridge Financial: Best for Coverage Options
South River Mortgage: Best for Refinancers
Guild Mortgage: Best for Low Rates
Fairway: Best for Homebuyers

6 Best RV Insurance Companies of May 2025

May 1, 2025 Ogghy Filed Under: Money.com, SUCCESS

What to Know About RV Insurance

RV insurance is essential for both full-time RV living and occasional trips.
Premiums vary based on your driving record, RV model and location, and may change annually.
Much like car insurance, it pays to shop around and get new quotes once your policy is up for renewal.
Our top picks include Progressive, Auto-Owners Insurance and National General.

How We Chose Our Top picks

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.

Read the full methodology to learn more.

Our Top Picks for the Best RV Insurance Companies

Progressive – Best Overall
Auto-Owners Insurance – Best for Customer Satisfaction
Nationwide – Best for Discounts
National General – Best for Specialized Coverages
Good Sam – Best for Comparing Multiple Providers
Roamly – Best for Renting Out Your RV

Best RV Insurance Reviews

Pros

Disappearing deductibles
Accident forgiveness for claims under $500
Add-ons available for pet injury and roof damage
C grade on Crash Network’s 2024 Insurer Report Card

Cons

Rates differ based on whether you buy online or through an agent
Discounts aren’t available in all states

HIGHLIGHTS

Coverage options: Standard collision, comprehensive and liability coverage, total loss replacement, personal effects, vacation liability, full-timers liability, loss assessment, emergency expenses, horse trailers and more.

Discounts: Multi-vehicle, original owner, pay-in-full, responsible driver, prompt payment, disappearing deductibles and more.

Bundles: Auto, renters, homeowners, motorcycle or boat insurance bundle

Why we chose it: Progressive is our best RV insurer overall for its competitive catalogue of RV inurance 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.

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 deductible 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.

Members of the military and family can also get Progressive RV insurance through USAA and save an additional 5% on their insurance policy.

Though Progressive is often recommended by users on RV online forums, the insurer is rated average in terms customer satisfaction (as is the case with most U.S. insurers). It ranks slightly below industry average on multiple J.D. Power Auto Insurance surveys and earned a C grade from the Crash Network, which gathers information from auto shops regarding repairs and customer satisfaction.

Learn more: Progressive RV insurance review

Pros

Low NAIC complaint index
High J.D Power Customer Satisfaction rating in 10 states
B grade on Crash Network’s Insurer Report Card

Cons

You can only get a quote by contacting a local agent
Only available in 26 states

HIGHLIGHTS

Coverage options: Standard comprehensive, collision and liability, uninsured/underinsured motorist, personal property coverage, additional expenses coverage, full replacement cost coverage, nationwide towing and roadside assistance

Discounts: Discounts Payment history, paid-in-full, paperless billing, advance quote, safety features, driver safety program, mature drivers and favorable loss history

Bundles: Car or life insurance bundle

Why we chose it: Auto-Owners Insurance has an impressive customer service record and fewer complaints with the National Association of Insurance Commissioners (NAIC) than most of its competitors. It’s also one of the few insurance providers in the country with a B grade from Crash Network.

In J.D. Power’s 2024 Auto Insurance Customer Satisfaction Study, Auto-Owners Insurance earned above-average rakings in Florida and the Central region, which includes Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma, and South Dakota.

Auto-Owners Insurance also stands out from major insurers nationwide with a B rating in Crash Network’s, 2024 Insurer Report Card. For this survey, body shops nationwide are asked to evaluate whether insurers prioritize quality repairs and good customer service for motorists. Most auto insurers with the largest market share in the U.S. got a grade of C+ or less.

Pros

Vast array of discounts for easy bundling and savings
Add-ons include coverage for glass windshield replacement
Optional towing coverage includes lodging, transportation and meals

Cons

C grade on Crash Network’s Insurer Report Card
No online quotes available
Nationwide’s website may not list all the available discounts

HIGHLIGHTS

Coverage options: Roadside assistance, towing and labor, vacation liability, safety glass replacement, RV replacement cost and personal effects coverage

Discounts: RV safety course, RV association, paid-in-full, good driver, continuous coverage and more

Bundles: Home or auto insurance. Two or more ATVs, boats, motorcycles, snowmobiles or scooters

Why we chose it: Most RV insurers offer discounts, but Nationwide’s list is notably extensive. The insurer offers over 10 different discounts including discounts for staying claims-free and installing safety devices, like smoke detectors.

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.

In terms of customer satisfaction, Nationwide has mixed reviews. In J.D. Power’s 2024 Auto Insurance Study, the insurer ranks lower than the industry average in several regions of the country. Crash Network’s Insurer Report Card, which measures quality repairs and customer service for motorists, also gave Nationwide a C grade. That said, J.D. Power’s 2024 U.S. Auto Claims Satisfaction Study — which only looks at the claims process — places Nationwide at a higher spot.

Learn more: Nationwide RV insurance review

Pros

Over 15 coverage options designed for every type of RV owner
Option to suspend collision and liability coverage when your RV is in storage
Full replacement cost coverage includes expert service to help you find a new RV
Quotes available online and by phone

Cons

Not as many discount options as competitors
Limited information about policies on its website
D+ rating on Crash Network’s 2024 Insurer Report Card

HIGHLIGHTS

Coverage options: Personal belongings, vacation liability, specialized equipment, permanent attachments, full replacement cost, purchase price guarantee, emergency expenses, roadside assistance and more.

Discounts: Diminishing deductible, storage savings and low mileage discount

Bundles: Auto and RV insurance

Why we chose it: National General has a host of specialized coverages designed to fit the needs of every type of RV owner, including unique benefits such as coverage for specialized equipment, pet insurance and policies compliant with Mexico insurance law.

National General’s coverage for specialized equipment is particularly good for RV owners who want t invest in (and protect) upgrades such as solar panels, custom wheels or modified suspension systems.

And though competitors offer some of these benefits as well, certain add-ons such as pet coverage and policies compliant with Mexico insurance law to facilitate cross-border travel, aren’t as common. National General also offers coverage options for full-time RV living, vacation liability, accident forgivenes and more.

With National General, RVs are eligible for full replacement cost coverage during their first five model years, regardless of ownership (some companies limit this benefit to original owners). National General also offers a generous purchase price guarantee that’s available during the vehicle model’s first nine years on the market (other insurers may not offer this guarantee if the vehicle is more than five years old). This optional benefit reimburses the customer up to the original cost of the vehicle in case it’s stolen or totaled.

One notable downside is Nationwide’s D+ rating on Crash Network’s Insurer Report Card, Though the survey doesn’t distinguish between RVs and cars, a low rating regarding repairs and customers service might be of concern.

Learn more: National General RV insurance review

Pros

Manage your policy through Good Sam Travel app
Discounts on campsites, gear stores, fuel and more
Partners with insurers that reduce your premium while the RV is in storage
Online quotes available

Cons

Not a direct insurer — offers insurance by Progressive, Foremost, Safeco and National General
Limited information on customer satisfaction

HIGHLIGHTS

Coverage options: Varies per insurer but most offer comprehensive, collision, liability, property damage, personal injury protection, roadside assistance, full replacement cost coverage and other specialized benefits, such as full-time RV insurance.

Discounts: Premium reduction if RV is in storage, multi-vehicle, paid-in-full, multi-policy, safety and anti-theft devices discounts and more.

Bundles: Vary by provider

Why we chose it: Good Sam Insurance Agency 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.

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.

If you’re a part-time RV user, Good Sam partners with insurers that allows you to reduce monthly premiums by suspending collision and liability coverage if your RV or trailer remains unused and in storage for over 30 days. Furthermore, Good Sam also helps craft personalized policies for full-time RVers who need extra coverage. Those additions could include reimbursement for food and lodging if your RV is in the shop or medical expenses coverage if someone is injured inside your RV or the surrounding area.

Learn more: Good Sam RV insurance review

Pros

Coverage continues if you rent out your RV
Offers motorcycle and boat coverage
Available in all 50 states and some provinces of Canada

Cons

Though Roamly offers boat and motorcycle insurance, there’s no bundling discount

HIGHLIGHTS

Coverage options: Coverage options Total loss replacement, roadside assistance, full-timer RV and motorhome, RV rental, commercial RV insurance and more

Discounts: Military discount

Bundles: None — Roamly specializes in RV insurance

Why we chose it: With Roamly, you can rent out your RV and the company won’t cancel your coverage. You’ll still need to get (and pay for) a separate rental insurance policy for the duration of the rental but Roamly will resume coverage once the rental period is over.

With Roamly, you can keep your original insurance policy and get a 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). This arrangement stands out because most insurers typically decline to insure you and may even drop your coverage if you rent the vehicle to someone else.

Rented RVs typically require comprehensive commercial insurance due to their higher risk exposure when compared to personal vehicles. Outdoorsy’s protection packages for hosts include up to $1 million in liability coverage and up to $300,000 in comprehensive and collision coverage. Renters who book their RV through Outdoorsy can opt for a separate package that includes travel medical insurance as well as trip and interior damage coverage.

Learn more: Roamly RV insurance review

Other RV insurance companies we considered

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.

RVInsurance.com

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.

Why we didn’t pick it: Though RVinsurance.com partners with reputable insurers it didn’t stand out when compared to similar RV insurance agencies.

AAA

AAA offers coverage for different types of RVs and some of its policies also cover personal effects such as electronics.

Why we didn’t pick it: 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.

Allstate

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.

Why we didn’t pick it: 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.

Geico

Geico offers coverage options comparable to those of other companies on our list (such as total loss replacement, emergency expenses coverage and vacation liability).

Why we didn’t pick it: Geico’s policies aren’t available nationwide, and its website lacks crucial details, such as available discounts.

What You Need to Know About RV Insurance

Insuring an RV is tricky — recreational vehicles fall somewhere between a car and a home. Your car insurance may include a towable trailer in its liability coverage, and your homeowners’ insurance may cover your motorhome while it’s parked in the driveway, but neither of those policies offers sufficient coverage. The manufacturer’s warranty also falls short — these policies cover mechanical failure, not damage from accidents or extreme weather events.

That’s where specialized RV insurance comes in. This type of coverage combines the benefits of auto and homeowner’s insurance policies to cover most of the 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.

Read on for a detailed breakdown of the coverage and cost of an RV insurance policy, as well as tips on how to select the best coverage.

What does RV insurance cover?

Common coverage options for part-time RVers

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.

For added peace of mind, part-time RVers may also want:

Property damage liability coverage: Pays for damages you cause to another person’s property or vehicle.
Bodily injury liability coverage: Reimburses the medical expenses of those you injure in an at-fault accident.
Collision coverage: Covers repairs to your RV after an accident with another vehicle, whether you’re at fault or not.
Comprehensive coverage: Pays for damages caused by theft, vandalism, natural disasters, fire and other non-collision accidents.
Uninsured/Underinsured motorist coverage: 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.
Personal Injury Protection (PIP): Covers medical expenses for you and your passenger in the event of an accident, no matter who is at fault. It may also cover lost wages.
Campsite/vacation liability coverage: 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.
Roadside assistance: Offers towing and emergency assistance should your RV experience a flat tire, battery discharge or other malfunction.

Common coverage options for full-time RVers

Full-time RVers may want some or all of the coverages mentioned above as well as any of the following:

Personal property coverage: Covers the cost of replacing any damaged or stolen personal effects such as clothing, furniture, jewelry, and computers.
Total loss replacement: 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.
Full-time RV liability coverage: Adds additional coverage for liability and medical expenses if you live in your RV for six months or more each year.
Emergency expense allowance: 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.
Supplemental benefits: This adds coverage for such items as awnings, satellite dishes and solar panels, and even for pet injuries that happen in the vehicle.
Loss assessment: Helps cover fees charged by RV associations for damage to common areas, such as in a campsite.

What RV insurance doesn’t cover

RV insurance won’t cover the following:

Normal wear and tear: RV insurance protects your vehicle against unexpected events, not for the cost of routine maintenance or deterioration.
Mold damage, fungi or rot: 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.
Certain types of water damage: RV insurance doesn’t cover water damage caused by regular wear and tear, freezing temperatures or manufacturer defects.
Earthquake damage: RV insurance covers most natural disasters, including floods, storms and fires. But, depending on the insurer, earthquake coverage may not be included.

How much is RV insurance?

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.

According to data published by Progressive, it costs an average of $600 a year to insure a travel trailer with a policy that 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.

According to other online estimates, a class A motorhome with state-of-the-art components is by far the most expensive type of RV to insure. Averages range from $1,000 to $4,000 for a 12-month policy.

What determines your RV insurance premium?

The following factors influence the cost of an RV insurance policy:

The type of RV: Motorhomes cost more to insure than trailers, camper vans and pop-up campers.
Age and condition: Older trailers and motorhomes cost less to insure due to their reduced resale value.
Type of RV insurance: A liability-only policy is more affordable than one that adds collision and comprehensive coverage, along with protection for personal property.
Where you live: 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.
Driving experience and driving record: 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.
Claims history: A lengthy claims history is a red flag to insurers. Drivers who have never filed a claim are likely to secure a better rate.
Credit score: As with other types of auto insurance, your credit score (with lower scores associated with higher claims risks) may be used to assess your claims risk, except in states where that use is prohibited by law.
Additional coverage: Add-ons such as total loss replacement, full-timers coverage and vacation liability will increase your premium.

Common RV insurance discounts

While these may vary by company, most insurers offer rate discounts for:

Bundling multiple policies
Installing safety features in your RV
Signing up for paperless billing
Paying the total annual policy upfront
Making monthly payments on time
Staying claim-free during the previous policy period

Rarer discount options for RVers include:

Being the vehicle’s original owner
Staying accident-free for at least three years
Taking safety courses
Being a member of an RV association
Storing your vehicle away seasonally

Drivers aged 50 and up may also snag a lower rate, at least until they reach their 70s, as can parents or guardians who don’t insure drivers under 25 on their policy.

How to buy RV insurance

Here are some tips on how to find and purchase the right RV insurance coverage for you.

1. Determine the coverage you need

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. (RV rental platforms like RVShare and Outdoorsy require rental insurance for any vehicle listing.)

Your auto insurance policy may cover towable campers or fifth-wheel trailers but not motorhomes. And while auto policies cover liability while using the RV, they generally exclude property damage to the trailer and any belongings or appliances stored inside.

Homeowners insurance may also offer some coverage, but only when the RV is parked on the insured property.

If you’re renting an RV, an RV rental insurance policy specifically designed for that purpose is essential. It typically covers liability, collision damage, personal accidents, and personal effects. You can get it through the rental company or your insurer. Your existing car or RV insurance 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.

2. Shop around for RV insurance quotes

RV insurance costs depend on factors such as your driving history, where you live, the type of vehicle you own and how you use it. For the best rates, compare quotes from multiple insurers using an online marketplace or by consulting an independent insurance agent.

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.

During this step, it’s important not to withhold details from your insurance provider, such as how you plan to use the RV. You might save a few bucks on your premium by not disclosing that you plan to live in the RV, for instance, but the omission could backfire on you. If you were to file a claim and the insurer discovered that you misrepresented information, they could reject the claim and even cancel your coverage.

3. Look for discounts and policy bundles

You can save money by bundling your RV policy with auto, home, renters, boat or even life insurance policies from the same provider. These discounts typically save you 5% to 10% off the total cost to buy each policy separately. 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, including your RV.

Does RV insurance cover RV rental?

Renting out your RV is considered commercial use, so your insurance won’t cover the renter — they’ll need to obtain their own insurance.

That said, platforms like RVshare, Go RV Rentals, and RV Plus offer their own insurance while the RV is rented. If you use these platforms, review each company’s fees, support, renter screening and protection policies.

In some states, like Arkansas and Wisconsin, drivers need special licenses in order to drive RVs legally. Ensure that anyone borrowing your RV has the required license for your policy to apply.

What kind of insurance do I need to rent out my RV?

To rent out an RV, most states require that you have at least liability coverage, which covers damages or injuries you cause to others in an at-fault accident.

All states except New Hampshire and the District of Columbia require liability coverage for vehicles, including self-propelled RVs. For towable RVs, you need only enough coverage to protect your belongings, not additional liability insurance. (An exception is when the trailer is financed, in which case the lender will likely require comprehensive and collision coverage as part of the loan agreement.)

How We Chose the Best RV Insurance Companies

Coverage options and discounts: We picked companies that offer a comprehensive selection of coverage options and premium discounts.
Customer satisfaction: 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).
Financial strength: 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.
Complaint index: We looked up every insurer’s complaint trend report from the National Association of Insurance Commissioners (NAIC) and favored those with few complaints

Latest News in RV Insurance

Hikes in auto insurance premiums may have slowed down in 2024, but drivers still chose to shop for lower-priced policies. According to J.D. Power’s most recent Insurance Shopping Study, the number of people shopping for automotive insurance increased by 6% compared to the previous year.

Also, more insurers are offering usage-based (or “telematics”) insurance programs to auto owners. Currently, these programs are mostly confined to cars, and there are only a handful of RV “pay-per-mile” programs, which is one kind of UBI policy. But the trend to wider availability for cars might signal a future shift in options for how premiums for all motor vehicles — including RVs — are determined.

Unlike pay-per-mile programs, usage-based insurance programs (or UBI) track your driving behavior in real-time, recording instances of hard braking, speeding, mobile use and other risk factors. Though these programs encroach on the driver’s privacy, some consumers are willing to accept these terms if they get a lower rate.

RV Insurance FAQs

What states require trailer insurance?

Trailer insurance requirements vary by state and by type of trailer. Most state governments require liability insurance, while others also require uninsured motorist coverage.

Currently, only two states don’t require any type of trailer insurance. You can drive an uninsured vehicle in Virginia if you pay an uninsured motorist fee. In New Hampshire, you can drive uninsured if you prove you have enough money to cover liability expenses in an at-fault accident.

Do you need trailer insurance?

Legally, you don’t need additional insurance for a non-motorized trailer hooked up to a towing vehicle. The vehicle’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.

Talk to your auto insurance provider if you want to add property damage coverage for the trailer or purchase separate RV insurance for added protection.

Does RV insurance cover water damage?

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.

What is vacation liability RV insurance?

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.

Summary of Money’s Best RV Insurance of May 2025

Progressive – Best Overall
Auto-Owners Insurance – Best for Customer Satisfaction
Nationwide – Best for Discounts
National General – Best for Specialized Coverages
Good Sam – Best for Comparing Multiple Providers
Roamly – Best for Renting Out Your RV

Best No-Appraisal Home Equity Loans of May 2025

April 29, 2025 Ogghy Filed Under: Money.com, SUCCESS

Note: The sample rates included in the reviews are valid as of April 28 and may change at any time.

Many homeowners are sitting on a good amount of equity these days, and home equity loans and lines of credit (HELOCs) can be a smart way to turn that equity into cash.

Most of these equity products require an appraisal, though — an in-person evaluation of your home to determine its value. This assessment process can add time, hassle and extra costs to the mix.

Some lenders, however, use alternative assessment methods that let you bypass the traditional appraisal process, making it faster and easier. If you’re looking for a no-appraisal home equity loan or HELOC, these are some of the top lenders you should consider.

What to know about no-appraisal home equity loans:

Most lenders require an appraisal before they approve a home equity loan or HELOC.
Some lenders let you waive the appraisal, use an old one, or leverage data-based approaches to determine your home’s value instead.
Choosing a no-appraisal lender can help speed up the lending process and cut down on costs.

How we chose our top picks

Our editors and writers reviewed over 60 home equity products and lenders to ensure our list is as comprehensive as possible. We used publicly available data and interviews with lender representatives to confirm data accuracy. We then narrowed down a list of lenders offering no-appraisal loans and used factors such as interest rates, term options, maximum loan amounts, credit score requirements, and loan-to-value thresholds to score each lender on a scale of one to five.

Read our full methodology to learn more.

Our top picks for the best no-appraisal home equity loans

Connexus Credit Union: Best Overall
Figure Lending: Best no-appraisal HELOC
Discover: Best Home Equity Loan
Rate: Best for Low Interest Rates
PenFed Credit Union: Best for Smaller Loan Amounts

Pros

Offers the best combination of low rates, flexible terms
Long draw period (for HELOCs)
High LTVs allowed
Several term options to choose from

Cons

Must become a credit union member
Closing costs range from $175 to $2,000
Not offered in Maryland, Texas, Hawaii, or Alaska

HIGHLIGHTS

Product options:: HELOCs, home equity loans

Maximum loan amount:: Varies by location

Maximum LTV:: 90%

Terms:: 15-year draw period; 15-year repayment (for HELOCs); 5, 10, and 15-year terms (for home equity loans)

Interest rates:: Variable, starting at 5.99% (HELOCs) and fixed, starting at 7.31% (home equity loans)

Credit score minimum:: 640

Properties allowed:: Single-family homes, two- to four-unit condominiums, owner-occupied duplexes, townhouses

Why we chose it: Connexus Credit Union takes the cake for top no-appraisal home equity lender. Not only does it offer both home equity loans and HELOCs for up to 90% of your home’s market value (minus your current mortgage balance), but it also offers low interest rates (you can currently get an introductory rate lock as low as 5.99% on a line of credit, valid until April 1, 2026). Its HELOC also offers a longer-than-typical draw period of 15 years, giving you even more time to use that home equity if you needed.

Pros

Four loan terms to choose from
Low, fixed interest rates
Second homes allowed
Funding in as little as 5 days

Cons

LTV and max loan amount could be higher
Requires an origination fee of up to 4.99%
Not offered in Hawaii, New York, or West Virginia

HIGHLIGHTS

Product options:: HELOCs

Maximum loan amount:: $400,000

Maximum LTV:: 85%

Terms:: 5, 10, 15, and 30-year terms

Interest rates:: Fixed, starting at 7.10%

Credit score minimum:: 640

Properties allowed:: Single-family homes, townhouses, planned urban developments (PUDs), most condos, second homes, and duplexes

Why we chose it: Figure has our top-rated no-appraisal HELOC, and it’s no wonder: The all-digital online lender specializes in these products, and it offers some big perks for its borrowers. Interest rates are always fixed (a big difference compared to most HELOCs), there are four loan terms to choose from, and you can receive your cash in as few as five days. You can also use Figure’s HELOCs for second homes — another standout compared to other companies.

Pros

Uses AVM for appraisal
Competitive interest rates
High LTVs allowed and no closing costs
Four term options to choose from

Cons

High credit score requirement
No second homes or investment properties allowed
Not offered in Iowa or Maryland

HIGHLIGHTS

Product options:: Home equity loans

Maximum loan amount:: $300,000 to $500,000, depending on lien position

Maximum LTV:: 90%

Terms:: 10, 15, 20 or 30-year terms

Interest rates:: Fixed, starting at 7.85%

Credit score minimum:: 680

Properties allowed:: Single-family homes, condominiums, townhomes, and PUDs

Why we chose it: Discover offers our top-rated no-appraisal home equity loan. The lender allows loan-to-value ratios of up to 90% and a maximum loan amount of $500,000 ($300,000 for a second mortgage). Additionally, it charges no application fees, origination fees, or processing fees. Discover uses a data-based approach to its property valuations, and its application process is wholly online.

Pros

Low, fixed interest rates
Funding in as few as 5 to 10 days
No closing costs
Second homes, investment properties, and rentals allowed

Cons

High credit score requirement
Short draw periods
Not offered in New York, Kentucky, West Virginia, Delaware, or Maryland

HIGHLIGHTS

Product options:: HELOCs

Maximum loan amount:: $400,000

Maximum LTV:: 85%

Terms:: two- to five-year draw periods; five, 10, 15 and 30-year repayment periods

Interest rates:: Fixed, starting at 6.80%

Credit score minimum:: 680

Properties allowed:: Primary homes, second homes, investment properties, single-family rentals, condos, townhomes

Why we chose it: Among all the no-appraisal lenders we analyzed, Rate (formerly Guaranteed Rate) has some of the lowest possible interest rates around (they’re fixed, too). Rates currently start at just 6.45%, and you can choose between five-, 10-, 15-, and 30-year repayment terms. The lender offers funding in as quick as five to 10 days, and there are no upfront closing costs either.

Learn more about Rate in our lender review.

Pros

No appraisal required for loans up to $400,000
Funding in as few as 15 days
No closing costs or origination fees

Cons

High credit score requirement
Requires credit union membership

HIGHLIGHTS

Product options:: HELOCs

Maximum loan amount:: $500,000 (over $400,000 requires an appraisal, though)

Maximum LTV:: 85%

Terms:: 10-year draw period; 20-year repayment period

Interest rates:: Variable rate with three fixed-rate lock-in options

Credit score minimum:: 680

Properties allowed:: One to four-unit properties only

Why we chose it: If you don’t need to borrow a ton of cash, you can look to PenFed Credit Union, which only requires appraisals on loans above $400,000. The lender offers both fixed- and variable-rate options, and lends up to 85% of your home’s equity. There are also no origination fees, and you can close on your loan in as fast as 15 days.

Learn more about PenFed in our best credit unions of 2025 round-up.

Other no-appraisal home equity loans we considered

Achieve

Achieve offers home equity loans for borrowers with credit scores as low as 600, the lowest required by all the lenders we considered. In most cases, it uses an automated valuation model, which means you won’t need an in-person appraisal. Achieve has a maximum loan amount of $150,000 for debt consolidation and $300,000 for home improvements. Qualified buyers can get funding in as little as 10 days.

Why we didn’t choose it: The published interest rates are higher than those offered by our top picks, and the 5-year draw period is shorter than many of the other companies we considered.

Hometap

Hometap is a home equity sharing company that uses in-person and automated valuation models in its property appraisals. Hometap offers a different way to tap into home equity. Instead of providing a loan, Hometap will invest in your home, “buying” a portion of your home’s future equity in exchange for a lump sum payment. No monthly payments are required, and you can use the money for any purpose. Hometap is one of our picks for best home equity sharing companies.

Why we didn’t choose it: Home equity sharing is not a traditional loan product. While you don’t have to worry about making regular payments, you will have to make a balloon payment of the initial investment amount plus a percentage of your home’s increased value when the agreement ends, which could represent a large sum of money.

What you need to know about no-appraisal home equity loans and HELOCs

If you want to tap your home equity without the hassle and headache of an appraisal, there are certainly options out there. Before you apply, though, make sure you understand how these loan products work.

What is a no-appraisal home equity loan or HELOC?

Most home equity loans and HELOCs require some form of appraisal. That’s because how much you can borrow from these loans — and how risky they are to a lender — depends on your home equity. And the only way to determine that is by having an accurate valuation of your home.

That’s what appraisals do. An appraiser will visit the property, assess its current condition, and look at local housing market data to determine its market value. Once a lender knows this value, they can subtract your current mortgage balance and determine the total amount of equity you have in the home.

No-appraisal home equity loans and HELOCs don’t require this step, which can save time and money. But be aware: The lender will need to assign a value to your home in some form or fashion — even on no-appraisal loans. We’ll go more into how they might do this below.

How does a no-appraisal home equity loan or HELOC work?

A lender still needs to know determine you home’s value before it can issue a home equity loan or HELOC against it. And while one might skip the full, in-person appraisal, there are other methods that can be used to determine your home’s value.

Most commonly, lenders use what’s called an automated valuation model. This is a type of computer algorithm that assigns a property value based on external data points such as size, age, number of bedrooms, and other similar homes in the area. Zillow’s “Zestimate” feature, which gives you an estimated price for virtually any address in the U.S., is a good example of an AVM.

Other lenders might use desktop appraisals, which use a combination of property data records and other computer-accessible data to evaluate your house, or they may let you use a previous appraisal (maybe one done the last time you refinanced your house) or your original purchase appraisal if it wasn’t too far in the past.

Once your home’s value is determined, the lender can calculate how much equity you have and how much you can borrow, and it can start underwriting your loan. When that step is complete, you’ll close on the loan by signing your paperwork and paying any closing costs that the lender requires.

How to choose a no-appraisal home equity lender

Whether a lender requires an in-person appraisal is just one factor to look at when evaluating where to get your home equity loan or HELOC. You should consider these other factors as well:

Their qualifying requirements, including credit scores, loan-to-value ratios, and equity minimums
The maximum loan amount you can borrow
What properties qualify for their HELOC or home equity loan
Any fees the lender charges
Their interest rates and term options
Customer reviews and ratings

You also want to look up a company’s profile on the Better Business Bureau, too. If they have lots of complaints or a low rating, it could indicate the company isn’t great to work with.

Pros and cons of no-appraisal home equity loans and HELOCs


Pros	Cons
Faster loan processing, as it removes a time-consuming step	Fewer lender options to choose from
Lower upfront costs, since appraisals usually add $300 to $400 to your closing fees	May mean you can borrow less (if a full appraisal would confirm your home has gained value, for instance)
Less headache and hassle all around	May come with higher interest rates or lower loan amounts, as they can be considered riskier for lenders

Alternatives to no-appraisal home equity loans and HELOCs

The main alternative to a no-appraisal home equity lender is, well, one that requires a full appraisal. This will likely extend the time it takes to process your loan, and add an extra cost, too. The exact cost of an appraisal varies by location and the size of your property, but it typically ranges from $300 to $400, according to home services platform Angi.

If you don’t want to go through the appraisal process, other options for funding include:

A cash-out refinance: This replaces your current mortgage with a larger one, giving you the difference between the two balances back in cash. Just keep in mind that it will mean trading your existing mortgage term and interest rate in for a new one, which could be good or bad depending on market conditions.
A reverse mortgage: This loan is designed for senior homeowners and allows you to tap into your home equity without having to make monthly payments. You can receive regular payments or take the loan in a lump sum. You don’t repay the balance until you permanently move out, sell the house, or pass away.
A personal loan or credit card: Instead of tapping your home equity, you could use a personal loan or credit card if you need money in a pinch. Take note, though: You will typically pay much higher interest rates for these products than you will for home equity loans, HELOCs, and other mortgages.

Don’t be afraid to talk to a mortgage professional or financial advisor if you’re not sure how to best get the cash you need. They can point in the direction that’s best for your budget and goals.

Latest home equity news

Economic uncertainty is making home equity a more attractive option for homeowners seeking extra cash. Increasing home prices over the past few years have resulted in over $30 trillion in aggregate homeowner equity by the first three months of 2025.

There are several ways to tap into this equity. The most well-known are home equity loans and lines of credit (HELOCs) and cash-out refinancing. Of all these options, most homeowners are choosing a HELOC to access their equity. According to data analysis company ATTOM, more than 76,000 HELOCs were originated this past February alone, representing a nearly 6% increase from the previous year.

Another option generating interest among homeowners is home equity investments (HEIs), where investors provide cash in exchange for a percentage of a home’s future value. These agreements don’t require monthly payments, which can be helpful if the homeowner needs cash but can’t afford additional monthly expenses.

No-Appraisal Home Equity Loan FAQs

Can you get a home equity loan without an appraisal?

Yes, you can get a home equity loan without a full appraisal, but the lender will still need to determine the value of your home before proceeding. They may use an automated valuation model, desktop appraisal, or drive-by appraisal, or they may allow you to use a previous appraisal or valuation in its place.

Can I get a HELOC without an appraisal?

Similarly, you can also find lenders that will issue HELOCs without requiring a full, in-person appraisal. They will use alternate methods to determine your home’s value, though. Most of these are data-based.

Who pays for the appraisal on a home equity loan?

Typically, the borrower in a home equity loan must cover the cost of any necessary appraisal. The cost of an appraisal varies depending on the size and location of the property and can range anywhere from $200 to $700 or more. Some lenders may cover the cost of the appraisal, but it’s best to confirm this with your lender for the specific terms of the loan.

Do home equity loans require an inspection?

Home equity loans don’t require an inspection, but they will typically require an appraisal in most cases. Some lenders will allow you to skip this step, though, using an alternative method to determine your home’s value instead.

Methodology

We evaluated dozens of banks, credit unions and online home equity lenders nationwide. We gathered data on product terms, qualifying requirements, interest rates, availability, and other perks to zero in on the best ones. We scored lenders on a one-to-five scale based on five categories: interest rates (30%), loan terms (20%), credit score minimums (20%), loan-to-value ratio (15%) and maximum loan amounts (15%).

We considered companies that offered competitive interest rates since they are one of the primary factors influencing the cost of financing a home purchase,
Companies that provided longer payback and, in the case of HELOCs, draw periods were given a higher score.
We prioritized companies with lower credit score requirements because they make the products available to a broader group of borrowers.
Higher scores were given to companies with higher loan-to-value ratios, which helps increase the pool of borrowers able to take advantage of the products offered.
We gave companies that offered higher loan amounts better scores compared to their competitors.

Summary of our top picks for no-appraisal home equity lenders

Connexus Credit Union: Best Overall
Figure Lending: Best HELOC
Discover: Best Home Equity Loan
Rate: Best for Low Interest Rate
PenFed Credit Union: Best for Smaller Loan Amounts

More from Money:

Best Home Equity Loans of 2025

Best Home Equity Sharing Companies of 2025

How to Get a Home Equity Loans With Bad Credit

What a Crashing U.S. Dollar Means for Your Money

April 26, 2025 Ogghy Filed Under: Money.com, SUCCESS

The market mayhem of the past several weeks hasn’t been limited to stocks and bonds. Since the beginning of the year, the value of the U.S. dollar relative to other currencies has tumbled by around 10% from its January peak, with much of the decline taking place after President Donald Trump began implementing a wide range of tariffs.

“Investors have been spooked by Trump’s recent moves in the global economy, and they’ve moved away from investing in U.S. Treasurys,” says Michael O. Moore, a professor of economics and international affairs at George Washington University.

The result? A slumping greenback.

Quick vocab lesson: A weak dollar means that the value of our money is worth less compared to other major currencies. By contrast, a strong dollar means that our money is worth more. To put it in an exchange-rate scenario, if you wanted to exchange $100 for euros today, you’d get about €88. If you’d exchanged that same $100 back in January when the dollar was high, you’d have gotten about €97.

While a lower-value dollar in global currency-market terms isn’t the same as an erosion of purchasing power due to inflation, the combination of the two means Americans’ budgets are in trouble, according to Michael L. Walden, an economics professor at North Carolina State University.

You might think that if you don’t buy or sell stuff internationally, “it’s not a big deal,” he says. But before you breathe a sigh of relief, Walden notes that this isn’t as cut-and-dried as it might seem. Even if you don’t have plans for an international vacation or a new foreign car in your future, you could see price increases in a variety of products from foreign manufacturers.

Tariffs are already projected to add $3,800 to the average family’s costs this year, according to one estimate. A weak dollar compounds this impact. And unlike tariffs, which can have carve-outs or exclusions, the impact of a weaker dollar hits across the board.

“A weaker dollar is going to make everything we import more expensive,” says Dann Ryan, managing partner at Sincerus Advisory. “We’re already seeing people have a little bit of sticker shock,” he says, noting that clients are holding onto their cars for longer and readjusting vacation plans to stay stateside to avoid exposure to fluctuating exchange rates.

Who would want a weak dollar?

The president, for one. Trump has long been a proponent of a weaker dollar, a stance that ties in with his goal of reestablishing American manufacturing prowess. “As your President, one would think that I would be thrilled with our very strong dollar. I am not!” he posted on Twitter (now called X) in 2019.

In theory, a weak dollar boosts the fortunes of companies — and the people who work for them — that sell goods exported and purchased in other parts of the world, because those exports become cheaper to buy when the dollar is weak.

In reality, trade experts say it’s not that simple. Decades of globalization have tied American industries to overseas partners and suppliers. The international nature of automotive, electronics and other manufacturing supply chains means that even products nominally made here probably include imported raw materials or components.

On top of that, Trump’s trade war has raised the prospect of companies implementing reciprocal tariffs on American imports in retaliation to the White House’s policies. Burgeoning anti-American sentiment could also depress U.S. exports, with evidence of a falloff in international tourism one early indication.

Experts warn of potential long-term economic damage

Pricier cars and canceled travel bookings aren’t even the worst of it.

“For a long time, the U.S.’s biggest export has been Treasurys,” or government-issued debt, Ryan says. “Tied into that has been a sense of stability and confidence — and that’s just been shaken.”

U.S. Treasurys have enjoyed the status of being the world’s de facto safe haven for the past several decades, which allows the government to run deficits and issue new debt more easily and cheaply compared to other countries (even during periods of global economic turbulence).

“Safety is a relative thing. If all options are bad, the U.S. is a better place to be,” Moore says.

A chaotic rollout and ever-shifting pronouncements on tariffs are prompting investors to reexamine that conventional wisdom.

“The direction of this change is not normal — chaos and uncertainty usually drive investors to the dollar and not away from it,” Peter Petri, professor emeritus of international finance at the Brandeis International Business School, says via email. “The dollar is usually seen as the world’s safest currency. But today’s uncertainty is so closely tied to U.S. markets that other currencies and even gold look like safer bets,” he says.

“None of this is good for U.S. consumers, so let’s hope that the dollar’s decline stops.”

‘No Place to Hide’: Where and When Trump’s Tariffs Will Hit Your Wallet

Which Is Worse: a Recession or a Bear Market?

On TikTok, Preparing for a Recession Is a Vibe

April 25, 2025 Ogghy Filed Under: Money.com, SUCCESS

In March, just days before President Donald Trump declared a national emergency over the U.S. trade deficit that sent markets plummeting, Kim Casamento was browsing the aisles of a tiny thrift shop in Wayne, New Jersey.

In passing, another customer told Casamento, 32, that she had recently found an original Martha Stewart cookbook that she’d resold for $500. Casamento didn’t know much about vintage cookbooks, but she decided to scan the shelves anyway.

That’s when she found it: The $7 a Meal Cookbook, a 2008 guide to feeding a family of four for $7 or less during the Great Recession. (Spoiler alert: The recipes cost far more than $7 in 2025.)

“The price of everything is skyrocketing these days. Gas prices, commodities futures and the economy in general are forcing food prices up sharply,” wrote the author, Linda Larsen, in the introduction. “We have to take control of our budgets.”

Seventeen years have passed. But with universal tariffs now in effect and Trump’s tit-for-tat trade war dashing consumer sentiment, the cookbook reads like it could have been written yesterday.

“I saw that cookbook and was like, you know what, this is going to be my TikTok,” Casamento says. Also known as saltandvibes on the popular video-sharing site, she is one of a growing number of social media content creators who have developed a unique and timely niche: sharing tips online about preparing for a potential recession.

Trending now: recession prep

As economic uncertainty grips America, financial advice about everything from avoiding panic buying to predicting whether you’re about to get laid off are starting to take over internet feeds. Participants range from Vivian Tu, a popular “finfluencer” with 2.7 million followers on TikTok alone, to smaller creators just hoping to get a piece of the action.

“We don’t panic during recessions, we prepare for them,” said TikToker itzettromero, who’s been posting videos with recession advice in recent weeks. (Among her suggestions: Gen Zers should seek advice from millennials, immigrants or people who grew up low-income since they know how to weather financial turmoil. Make shopping lists and stick to them. Include cheap, quick and versatile tuna on said shopping lists.)

Some recession-prep videos, like Casamento’s, have surprisingly glitzy production value. Others, like itzettromero’s, are soaked in dark humor and jokes about young people once again facing another “once-in-a-lifetime” event.

Casamento’s videos put Larsen’s recipes to the test — not only for flavor but also by comparing grocery prices circa 2008 to 2025, all the while sharing helpful tips for cooking on a budget. She plans on making 30 recession recipe videos in 30 days.

While preparing for a recession may sound stodgy, Casamento’s videos are anything but. They feature ultra close-ups of gooey chocolate oatmeal cookies, crispy homemade parmesan potato chips and fluffy scrambled eggs. Her camerawork makes the recipes look delicious, even if she rates some of them a 2 out of 10 for taste.

About a dozen recipes into her project, Casamento has already racked up nearly 700,000 views and sparked numerous conversations with her viewers about the state of the economy.

“Most of my audience is women, so they’re the caretakers. They’re the ones going grocery shopping,” she says. “Whether we’re headed into a recession or not, a lot of people have opinions saying that they already think we’re in one.”

This type of content is resonating with young Americans — and proliferating. On TikTok, more than 130,000 videos now use the hashtags #recession or #recessionproof.

Bad vibes or something worse?

To be clear, a recession has not officially been declared in the U.S. The National Bureau of Economic Research, or NBER, is the group that makes that call once it sees “a significant decline in economic activity that is spread across the economy and lasts more than a few months,” according to its website.

While we have not reached that threshold, many people aren’t feeling good about the economy right now, notes Sofia Baig, economist at Morning Consult. And it’s not just folks on TikTok.

April survey results from the University of Michigan show that consumer confidence in the economy is lower now than it was during the Great Recession (December 2007 to June 2009). The reading indicates that everyday Americans are increasingly worried about losing their jobs, expect inflation to tick up and believe their incomes will fall.

Meanwhile, J.P. Morgan recently raised its prediction of a recession in 2025 from 40% to 60%. Goldman Sachs did much the same, raising its recession probability prediction from 35% to 45%. The uncertainty has been reflected in the stock market, with prices cratering and spiking ever since Trump announced widespread tariffs.

Right now, those are mainly measures of how people feel about the economy and not a reflection of economic performance. The latest reports from the Departments of Labor and Commerce show the unemployment rate (4.2%), inflation rate (2.4%) and gross domestic product (2.4%) all within healthy ranges. Actual economic threats loom, of course; namely, ones related to Trump’s trade war that could affect unemployment, inflation and GDP.

Still, people’s expectations themselves can be an important indicator.

“It’s a bit of a self-fulfilling prophecy,” Baig says. If people feel bad enough about the economy, they might spend less. “If people spend less, then that slows down the economy.”

Theoretically, if the recession prepping trend — or full-blown fearmongering — on social media got big enough, it could cause people to change their spending habits, potentially adding to the likelihood of a recession. But that doesn’t seem to be the case, Baig says. For now, many of the videos are harmless, if not helpful.

“In spending data, it’s a pretty rosy picture,” she says. “We’re not really seeing things slow down yet.”

In fact, she says, Morning Consult data consistently shows younger people are the ones spending the most on discretionary purchases, like entertainment, dining out and leisure activities.

While a lot of people may be sharing their bleak feelings about the economy in surveys and on social media, the hard economic data is currently looking pretty stable. Baig says she doesn’t think that all the recession prep on TikTok portends a real recession — not yet, at least.

“I think it might just be vibes,” she adds, “and it might not actually correlate into action.”

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Top 10 U.S. Cities Where Home Sellers Are Offering Perks to Sweeten the Deal

April 24, 2025 Ogghy Filed Under: Money.com, SUCCESS

Home sellers are increasingly offering concessions such as home repairs as the housing market becomes somewhat more buyer-friendly.

That’s especially true in the Pacific Northwest and the Western U.S. in general. The West region contains nine of the 10 large metro areas where more than half of home sellers are offering concessions, according to a new report from Redfin.

Overall, 44.4% of sellers gave concessions in the first quarter of the year. That’s just shy of the highest level since the data was first tracked in 2019 (45.1% in early 2023).

“More sellers are offering concessions as rising housing costs and economic uncertainty make buyers nervous, and housing supply hits a five-year high,” Redfin said in the report.

Agents told Redfin that some types of sellers, including condo builders, often prefer to give concessions over cutting list prices. What exactly is a concession? In addition to home repairs, a seller concession could also mean covering the buyer’s closing costs, including rate buydowns (in which sellers pay an upfront fee to temporarily reduce buyers’ mortgage rates), or offering new washer-and-dryer units.

Seattle and Portland ranked highest for seller concessions out of the 24 metro areas in the analysis, with 71.3% and 63.9% of sellers offering them, respectively. According to Redfin, high mortgage rates, expensive home prices and uncertainty about the economy are suppressing homebuyer demand, prompting sellers to try to sweeten the deal. But concessions are more popular in some segments of the housing market than others.

“It’s super common to see seller concessions for condos and new-construction townhomes, but less so for single-family homes — unless the single-family home has been sitting on the market for a while,” Stephanie Kastner, an agent in Seattle, said in the report. “Condos have become a tougher sell because of skyrocketing HOA fees and insurance.”

10 cities with the most seller concessions

Here are the large cities that had the highest share of sellers agreeing to concessions in the first quarter of 2025:

Seattle: 71.3%
Portland, Oregon: 63.9%
Atlanta: 61.5%
San Diego: 60.7%
Denver: 59.2%
Los Angeles: 56.1%
Sacramento, California: 52.5%
Las Vegas: 51.9%
Phoenix: 51.2%
Riverside, California: 51.2%

10 cities with the fewest seller concessions

In other cities, including some of the largest business hubs, concessions are much less common. That could suggest lower housing inventory or higher demand from buyers, but it could also stem from more realistic initial list pricing by sellers and their agents.

These large metros had the lowest share of sales with seller concessions in the first quarter:

New York: 5.5%
San Francisco: 14.9%
San Jose, California: 16.7%
Boston: 18.7%
Chicago: 26.4%
Philadelphia: 27.6%
Miami: 33.8%
Tampa, Florida: 33.9%
Washington: 39.2%
Baltimore: 41.4%

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Have a Student Loan in Default? Your Wages Could Soon Be Garnished Again

April 23, 2025 Ogghy Filed Under: Money.com, SUCCESS

After a five-year hiatus, the Department of Education is gearing up to resume the collections process on millions of borrowers who have defaulted on their federal student loans.

Borrowers who are in default are at least 270 days, or about nine months, behind on their federal student loan payments, and the status typically comes with harsh financial consequences. Chief among them is involuntary garnishment of wages and federal benefits. The Education Department says it will restart collections and garnishment activities on May 5.

“American taxpayers will no longer be forced to serve as collateral for irresponsible student loan policies,” said Education Secretary Linda McMahon in a statement Monday, referring to programs enacted by former President Joe Biden that sought to reform the student loan repayment system.

The financial penalties for falling behind on student loan payments have been largely blunted since the onset of the COVID-19 crisis, but that leniency is over. Forced collections from defaulted borrowers is the last major step in returning the loan repayment system to its pre-pandemic rules. It follows a year-long on-ramp aimed at easing borrowers back into repayment that ended last fall. Before that transition period, payments were entirely paused for over three years.

Now, more than 5 million borrowers are in default, according to the Education Department, but that number is set to double in the coming months as borrowers struggle to resume payments after years of not making them. Only 38% of borrowers are current on their loans, the department said. The remaining students are 90 days behind, aka delinquent, or in a forbearance, deferment or grace period.

Advocates of student loan borrowers decried the decision to restart collections given that the Education Department is in disarray following layoffs of more than 1,300 department workers last month.

The advocacy group Student Borrower Protection Center (SBPC) said that the Trump administration is throwing millions of borrowers “into the maw of government debt collection machine.”

“This is cruel, unnecessary, and will further fan the flames of economic chaos for working families across this country,” Mike Pierce, executive director of SBPC, said in an emailed statement.

Millions of student loan borrowers are already feeling the financial effects of running behind on their loan bills now that the full consequences of the missed student loan payments have returned.

Last week, credit scoring firm FICO noted a spike in delinquent student loan borrowers, as pandemic-era protections that shielded borrowers’ credit scores from late student loan payments expired.

In February alone, 2.7 million borrowers became delinquent, the firm said, tanking their credit scores by up to 171 points. Student loan delinquencies are so widespread that the nation’s average credit score fell by one point to 715 that month.

What to expect as student loan collections resume

The consequences of defaulting on student loans are wide-ranging and long-lasting.

Even before you default, a delinquent loan will likely have a major, negative effect on your credit score. But once the loan payment is about nine months late, more severe consequences kick in.

For starters, you become ineligible for many federal student loan programs, including forbearance and deferment periods in which you’re exempt from payments. You also lose the ability to choose an income-driven repayment (IDR) plan, and you’ll lose eligibility for new Pell grants and federal loans.

The default is reported to the credit bureaus, hurting your score even more than a delinquent loan. That black mark can make it near impossible to buy or sell any assets or property.

Perhaps worst of all is that the federal government can garnish your income, including wages from your job(s) as well as federal payments, such as Social Security checks and tax refunds.

To get your loan back in good standing, you will need to complete a loan rehabilitation or consolidation program through the Education Department, which may take up to 10 months.

In the coming two months, the Education Department says it is rolling out a “robust communications campaign” designed to stress the importance of loan repayment and outline options for defaulted loans.

According to the department, it’s also implementing an AI assistant to help borrowers navigate their options, extending loan servicers’ customer service hours, and simplifying the IDR enrollment and re-certification process.

Ahead of May 5, the Education Department said it’s reaching out to borrowers in default by email urging them to take action on their defaulted loan.

Later this summer, it will begin sending out wage garnishment notices.

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How to Invest in Silver

April 22, 2025 Ogghy Filed Under: Money.com, SUCCESS

Although gold is the most popular precious metal among investors, silver is also a strong-performing alternative asset worthy of your consideration. While many precious metal investors find gold appealing because of its historical role as a store of value, silver is a strategic metal that has numerous uses in manufacturing. Its industrial uses range from renewable energy and auto parts to medical supplies and water treatment applications.

In addition to serving as a form of currency, silver is also more affordable than gold. And like gold, silver can provide a safe haven during times of stock market turmoil and act as a hedge against inflation. The precious metal remains a highly sought-after commodity.

Below, we explore the best ways to invest in silver as well as the benefits and risks you should consider before adding it to your portfolio.

The best ways to invest in silver

There are many different ways you can add silver to your investment portfolio. But if you decide to invest in this precious metal, make sure to consider your broader financial goals, timeline and risk tolerance. These factors will help you determine the most financially advantageous way for you to invest in silver.

If you’re still unsure about whether or not the investment is a good choice for you after studying this guide, talk to a financial advisor. Your best bet is to consult with a fiduciary, who is required to recommend what is in your best interest and who understands the value of investing in physical precious metals as much as other asset classes. It is important to note that not every advisor has a thorough understanding of physical precious metals.

Silver bullion

Buying silver bullion — that is, silver ingots, bars or rounds — or collectible minted silver coins is the most straightforward way to buy silver. Investors may want to purchase silver coins and bars to supplement a portfolio of paper assets, such as stocks and bonds. However, be aware that investing in physical assets creates unique conditions for investors.

How to invest in physical silver

Investment-grade silver is at least 99.9% pure. You can buy fine silver bullion from online precious metals brokers — like JM Bullion, where you can buy gold and silver — as well as from storefront dealers, pawn shops, some jewelry stores and specialty retailers.

If you want to buy silver bullion coins or bars, acquaint yourself beforehand with the spot price (i.e., the current market value) of silver. While coins are marked-up to reflect their rarity and condition, the price of pure silver bullion is based on the value of the metal itself.

Each type of silver purveyor comes with its own advantages and disadvantages. Online dealers typically offer a wider selection and a secure way to purchase metals. However, they often charge markups on silver products, which can vary depending on the dealer’s business model. Local coin shops, on the other hand, provide the convenience of immediate exchanges; you can walk out with your silver the same day, but their inventory is often limited as they cater primarily to a local market.

It is important to note that all precious metal dealers charge different premiums based on their approach, and the range of fees will reflect chargebacks to customers to help them recover their cost of doing business. Therefore premiums can be especially steep for limited-edition collectible coins which may not always guarantee a return on investment, even over the long term.

As an investor, understanding the difference between a product’s value and its spot price is crucial. Some items, like a 1 oz. Silver American Eagle, carry a higher premium due to their desirability and recognition compared to standard 1 oz. silver bars. Always consider the balance between product type, premium and potential resale value when choosing where to buy.

Pros and cons of physical silver

Buying silver bullion yourself cuts out the middleman that other investments may have, but there are still associated costs you need to consider. Examples include sales tax (some states impose sales tax if the invested amount is below $2,000), dealer markups and the cost of storing and insuring your silver to protect it from loss or theft. You may choose to store it at home or in a bank safe deposit box or precious metals depository.

Keep in mind that FDIC insurance only covers deposited funds and not the items in your safety deposit box. Storing physical precious metals at a third-party depository ensures they are inspected, audited, confirmed and insured for your benefit. While this level of security and oversight involves an annual fee, it provides valuable peace of mind.

Although silver is a highly sought-after commodity in financial and industrial markets, the metal itself might not be as liquid as silver futures or silver exchange-traded funds (ETFs), which are still backed by actual silver but can be quickly and easily sold via a broker or online trading platform.

Silver mining stocks

If having to store bulky silver bars or coins doesn’t sound appealing, investing in stocks of silver mining companies may be a better fit for your investment style. Companies that mine silver generally do so either as an adjunct to gold mining, or they mine silver along with other industrial commodity metals, such as aluminum and copper.

Investing in silver companies provides you with the benefits of investing in this precious metal without having to own the physical metal yourself. However, like any other investment, you should conduct your own due diligence on the company’s management history and current operations since those are always risks with publicly traded companies.

How to invest in silver stocks

Finding silver company stock to buy isn’t quite as straightforward as picking the stocks of gold mining companies. Companies that mine silver might not exclusively — or even predominantly — focus on that metal. If your goal is to invest in silver, research mining companies’ holdings and operations in order to determine how much of their business is actually in silver as opposed to other metals.

Investing in silver stocks is done the same way you would invest in other stocks. You can use an online trading platform or stockbroker. You can also buy stocks in precious metals streaming companies, which are firms that provide financing to the companies that actually perform the mining operations.

Pros and cons of silver stocks

Owning stock in silver companies gives you exposure to investor demand for this safe-haven asset during times of market volatility, but doesn’t burden you with the expense and hassle of buying and storing physical silver. Silver mining stocks are easy to buy and are more liquid than silver bullion, with transparent pricing and a highly efficient market.

Although silver is a sought-after commodity by precious metals investors as well as buyers for industrial and manufacturing usage, tracking down the best silver stocks takes a bit of legwork because most precious metals miners focus on extracting gold. Companies that mine other types of metals and minerals, such as lead and zinc, may also not place as much focus on silver production.

Silver ETFs

ETFs are buckets of securities, like stocks or commodities, that investors can trade throughout the day with an ordinary brokerage account. Silver ETFs hold silver-backed assets. With ETFs, you are not owning physical silver but merely gaining exposure to its price movement, which may be more convenient for investors who prefer not to store the physical metal. Some ETFs, such as iShares Silver Trust, hold physical silver bullion, while others, such as Global X Silver Miners ETF, hold stocks of silver mining companies.

How to invest in silver ETFs

You can buy and sell silver ETFs with an ordinary brokerage account. These trading platforms and apps have resources available to help you research the composition and performance of an individual silver ETF before making a purchase.

Pros and cons of silver ETFs

ETFs are a low-cost and popular way to hold positions in multiple companies across an index like the S&P 500 or within an industry sector. There are gold ETFs as well as silver ETFs, in addition to other commodity-focused ones that hold assets backed by products, such as oil or copper.

That said, silver ETFs are narrowly focused investments. While they can be part of a well-diversified portfolio, most financial advisors recommend keeping alternative asset investments — such as precious metals — between 5% and 10% of your total holdings to avoid over-concentration that can heighten your risk.

Because of their specialized nature, silver ETFs have higher expense ratios (i.e., the costs of managing and administering a fund). The average silver ETF expense ratio is 0.61%, compared to just 0.15% for the average index ETF. Silver ETFs backed with actual pure silver can also be subject to less favorable tax treatment because they’re classified as commodities rather than paper assets. This categorization means they can be taxed at a higher maximum capital gains tax threshold.

Silver futures

Another way to invest in silver is with silver futures. These financial instruments are contracts in which the buyer agrees to purchase silver at a predetermined price on a specific date at some point in the future.

While silver futures are convenient because they can be easily traded with an ordinary brokerage account, they’re not recommended for beginners. That’s because trading silver futures requires a fair amount of familiarity with trading in general and with how the futures market operates in particular.

How to invest in silver futures

If you want to trade silver futures, many brokerage firms and trading apps have the functionality to do so. However, you may have to fulfill additional requirements on account of the greater complexity and increased risk of loss.

The primary commercial function of futures markets is to allow investors to reduce their risk by hedging against unexpected price movements. Investors can take long positions — betting that the underlying asset’s price will rise — or short positions, which entails predicting a drop in value.

Pros and cons of silver futures

Trading in silver futures contracts instead of buying silver can give you more flexibility as well as the opportunity for greater leverage on your investment. But there’s risk. Keep in mind that futures contracts are financial instruments only intended for sophisticated investors who understand the mechanics and risks of futures trading.

Futures trading takes place on centralized futures exchanges, which provides consistency and transparency. Unlike ETFs and mutual funds, you won’t pay management fees if you buy silver futures, and taxes are divided between the short- and long-term capital gains rates.

Make sure you’re familiar with how the futures market operates broadly and how silver futures are priced and traded. Educating yourself about how these contracts are structured and your obligations should you enter into this type of trade is crucial. If you don’t have the time or inclination to become proficient with this segment of the market, another type of silver investment might be a better fit for you.

The benefits of investing in silver

Investors seeking out alternative assets might find attributes of silver appealing. Like other precious metals — including gold, platinum and palladium — silver can serve as a hedge against inflation and changing interest rates. It can help protect your portfolio from market volatility.

Wealth preservation

One of the key benefits of silver is that it’s a store of value. It’s also a sought-after commodity across multiple sectors of industrial supply chains. Investors often seek out precious metals because they likely won’t lose value when inflation rises. Some silver-backed assets can even be bought and held in a silver and gold IRA, potentially helping to preserve the value of your retirement nest egg.

A safe-haven asset

Like other precious metals, the value of silver tends to move inversely to the stock market. During times of market turmoil — such as a pandemic or recession — when stocks tumble, silver may hold or even grow its value as investors flock to these kinds of assets.

Portfolio diversification

Silver is used in a wide range of goods, from medical supplies to car parts to solar panels. You can buy physical silver or stocks in silver companies or invest in funds that hold silver-backed assets. Adding silver investments to your portfolio will help diversify your investment spread. Diversification is important because it helps reduce your risk of losing money on your entire portfolio when one area takes a hit.

The drawbacks of investing in silver

No income generation

Silver doesn’t generate income in the form of interest or dividends, so even if you plan to buy and hold silver long-term, the only increase in value you’ll realize is when you sell it. Investors who buy stocks and bonds benefit from the value appreciation that comes from compounding over time, but silver, like other precious metals, also can’t add value to your portfolio via compound interest.

Price volatility

While investors use precious metals such as gold and silver to counterbalance stock volatility, the price of silver in the short term can be volatile and may even lose value. If you plan to buy silver, you likely want to approach it as a long-term investment so you won’t be forced to sell it at a loss.

Storage and insurance costs

Unlike a stock portfolio, silver bullion is bulky and can be at risk of theft. If you plan to invest in physical silver, you must factor in how much you’ll need to pay to store and insure that metal, whether you keep it at home or in a safe deposit box.

Is silver a good investment?

While silver had a strong performance in 2024, it remains undervalued compared to its peak of around $50 per ounce in 2011. If you’re trying to determine if investing in silver is the right move for you, you must consider your long-term personal finance goals, risk tolerance and timeline. Make sure to do your own research and seek information from well-regarded, unbiased sources — don’t depend on guidance from companies that make their money from selling silver. If you need investment advice, consult a financial advisor who is a fiduciary and is obligated to put your best interests first when giving you investment recommendations.

Investing in silver FAQs

Is it better to invest in silver than in gold?

Gold and silver — along with platinum and palladium — are considered part of the same asset class, so if you plan to only invest in one, you’ll want to consider your overall investing style. While investors usually consider gold a store of value, silver is more like other metal commodities in that its value is driven less by speculation and more by industrial demand from manufacturers of goods in sectors like healthcare, energy and transportation.

How much money should I invest in silver?

The amount of money you choose to invest in silver should be driven primarily by your portfolio’s value and existing composition. Most financial advisors recommend that no more than 5% to 10% of your portfolio be devoted to precious metals. It’s important to prioritize diversity: If your investments are overweight in silver, you could find your nest egg threatened by risk concentration.

What is the minimum amount I can invest in silver?

If you choose to buy physical silver, either as silver bullion bars or collectibles like silver coins or jewelry, your minimum investment will be determined by the spot price — the real-time market price — for one ounce of silver at the time you make your purchase. If you plan to buy silver stocks or invest in silver ETFs, the barrier to entry is much lower: Most brokerage apps let you buy fractional stock shares for as little as $1, and you can invest in an ETF by buying as little as one share. (The prices of those shares will depend on current market valuations and conditions.)

When is the best time to invest in silver?

Generally, investing experts recommend against trying to time the market when it comes to buying or selling silver. Instead, if you plan to buy silver over a period of time, you can use a technique like dollar-cost averaging to mitigate price fluctuations in the silver market to which you would otherwise be exposed.

Like other precious metals, silver should not be considered a short-term investment, particularly if you plan to buy physical silver coins or bars. Precious metals are less liquid than stocks, bonds or funds, and precious metals dealers tend to mark up the silver they sell. That means the value of silver will likely have to rise before you can even break even, let alone earn a return on your investment.

Summary of how to invest in silver

Silver is a popular precious metal for investors seeking portfolio diversification, a hedge against inflation and wealth preservation. Investment-grade silver is defined as having a silver content of at least 99.9% purity. You can buy physical silver bullion coins or silver bars from online dealers, jewelry stores or pawn shops, but make sure to factor in the expense of storing and insuring your precious metal. Storing it yourself eliminates external storage fees.

If you want exposure to silver but don’t want to buy the physical metal, you can invest in silver company stocks, silver ETFs or silver futures contracts. Many online trading platforms offer silver stocks and ETFs, and some may be available to buy and hold in an IRA. Silver ETFs that hold the stock of silver mining companies offer more diversified exposure than just buying stock in a single mining company, which can help mitigate risk. Silver ETFs backed by pure silver have less favorable tax treatment.

Some brokerages also permit silver futures trading, although there may be additional requirements due to the greater complexity and risk involved. Silver futures are sophisticated financial instruments that aren’t suitable for beginners because the ability to increase leverage — and potential gains — also means losses can be magnified if the value of your investment falls.

Before investing in silver, conduct your own due diligence, establish whether or not you want to invest in the physical metal or paper derivatives, select where you want to store it and decide the amount. Always seek unbiased advice and consider your personal financial situation and retirement goals before investing.

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Best Dental Insurance Plans of 2025

April 19, 2025 Ogghy Filed Under: Money.com, SUCCESS

Along with brushing and flossing, good dental insurance goes a long way towards keeping your teeth healthy. Since 2016, Money’s editorial team has spent thousands of hours researching and vetting the best dental insurance providers and coverage. We’ve evaluated the most comprehensive policies from top insurers, including Delta Dental, Guardian Direct and Spirit Dental.

What to know about dental insurance

The best dental insurance plans offer a high reimbursement limits, comprehensive coverage and no waiting periods for basic care.

Depending on the type coverage and your oral health needs, an individual policy can be expensive. Be sure to consider not only the monthly premium cost but the amount of your deductible, copays and coinsurance, as well as maximum benefit thresholds.

However, dental insurance can lower the cost of expensive restorative or emergency work such as crowns, fillings and implants.

How we chose our top picks

The marketplace of dental insurance plans is large and complex. Offerings vary by state, and plans available in the individual market differ from those available in a state marketplace or those offered as part of employer-sponsored health benefits.

From each company evaluated, we selected the plan that seemed most comparable to the others. These plans are generally insurers’ top-tier plans. While they do tend to have higher premiums, they also offer the most complete coverage; the plans for our top picks all cover 100% of preventative care with no waiting period. The plans here are individual PPO plans, which typically give you the flexibility of seeking care within or outside the insurer’s provider network.

We looked at plans offered by nearly 20 different insurance providers. Factors we took into consideration included costs, waiting periods, coverage levels and other criteria. Read our full methodology to learn more.

Our top picks for dental insurance plans

Denali Dental – Best Overall
Delta Dental – Best for Braces
Spirit Dental – Best for Value
Ameritas – Best for No Waiting Periods
Guardian Direct – Best for Teeth Whitening

Pros

30% major care coverage from day 1, rising to 60% in year 4
$6,000 annual maximum beginning in year 4
Orthodontics coverage available for adults
Deductible is lifetime, rather than annual

Cons

Premiums higher than many competitors
Not available in all states

HIGHLIGHTS

Name of plan: Summit Plan

Monthly premium: $63.92

Annual deductible: $100 lifetime in-network deductible; $200 lifetime out-of-network deductible

Annual maximum: $1,200 year 1; $2,000 year 2; $3,500 year 3, then $6,000

Why we chose it: We chose Denali Dental‘s Summit PPO plan as our best overall, despite the company charging higher premiums than our other top picks. Premiums are just one part of overall dental costs, however, and we found that Denali’s benefits justify its cost, especially over time.

Like the rest of our top picks, this plan covers 100% of preventative care with no waiting period. It covers basic care at 50% with no waiting period; coverage rises in tiers each year you have the plan, with a generous 90% coverage level after three years. The Summit plan covers 30% of major work with no waiting period. Major-work coverage tiers top out at 60% after three years.

This plan’s annual maximum is also tiered. It starts at $1,200 in the first year — an amount that already is higher than some of the plans we reviewed. That maximum rises over time to a very high $6,000 after three years, making the Summit plan a good choice for people who expect to need major dental work, or who just want the peace of mind that their dental care needs will be covered.

Pros

Orthodontics coverage for adults available
Teeth whitening covered after a 6-month waiting period
Discounts on hearing, vision coverage through partners

Cons

Orthodontics coverage has a 12-month waiting period
Not available in all states

HIGHLIGHTS

Name of plan: DPO Premium

Monthly premium: $46.48

Annual deductible: $50, excluding preventative care; separate $50 orthodontics deductible

Annual maximum: $2,000; lifetime orthodontics maximum: $1,500

Why we chose it: Delta Dental’s DPO Premium plan is one of a relative few that covers orthodontics care for adults. While even the best dental insurance for braces requires a significant out-of-pocket cost, this plan has some of the best coverage available. After a 12-month waiting period, this plan covers 50% of orthodontics up to a lifetime maximum of $1,500 per person. (There is a separate $50 annual deductible for braces.)

This full-coverage dental insurance doesn’t skimp in other areas of coverage, either: In addition to covering 100% of preventative care with no waiting period, this plan covers basic care at 80%, and major care at 50%. The caveat is that there are waiting periods of six and 12 months, respectively, for coverage to kick in. The annual maximum is $2,000.

This policy is a good pick if you want coverage for both braces and for teeth whitening. After a six-month waiting period, it covers 80% of teeth whitening services.

Pros

$5,000 annual maximum beginning in year 3
25% major care coverage from day 1, rising to 60% in year 3
3 cleanings per year covered

Cons

Deductible applies to preventative care
Orthodontics coverage for kids only

HIGHLIGHTS

Name of plan: Pinnacle PPO

Monthly premium: $42.37

Annual deductible: $100 lifetime

Annual maximum: $1,200 year 1; $2,500 year 2, then $5,000

Why we chose it: Spirit Dental is our Best for Value pick. Starting in your third year, its Pinnacle PPO plan has a very high annual maximum of $5,000. Although this is tiered, even its year-one maximum of $1,200 is on par with what some of its competitors offer; the year two maximum is $2,500.

In addition to covering preventative care at 100% with no waiting period, its annual benefits include three cleanings; most others only cover two cleanings per year. While the plan’s deductible is $100 (most of the plans we reviewed have $50 deductibles), it is a lifetime rather than an annual deductible, offering good value if you plan to stick with this plan for the long term. It also covers braces for kids up to a $1,200 lifetime maximum, and optional vision coverage is available at an additional cost.

Pros

80% basic care coverage from day 1, rising to 90% in year 2
20% major care coverage from day 1, rising to 50% in year 2
Benefits include hearing coverage, up to $400 towards hearing aids

Cons

Ranked last in most recent J.D. Power Dental Plan Satisfaction Study
Smaller provider network than some competitors

HIGHLIGHTS

Name of plan: PrimeStar Complete

Monthly premium: $49.56

Annual deductible: $50

Annual maximum: $2,500 year one, then $3,000

Why we chose it: Ameritas is our top pick for plans with no waiting periods. Like our other picks here, its PrimeStar Complete PPO plan covers 100% of preventative care without a wait. Basic care is covered at 80% right from day one, which is relatively generous; better plans cover 80%, but most require at least a six-month waiting period. That coverage level rises to 90% after one year.

Major dental work is covered at 20% without a waiting period; while this is on the low side, most of the plans we evaluated have 12-month waiting periods before they cover major work. After one year, major work is covered at 50%.

The PrimeStar Complete’s year-one $2,500 annual maximum is relatively generous to begin with; after the first year, that rises to $3,000. Additionally, preventative care does not count towards the annual maximum, a benefit that gives you more bang for your buck if you need significant work done.

Pros

Teeth whitening covered at 50%, up to $500 annually
$3,000 annual maximum from day 1
80% basic care coverage from day 1

Cons

Higher premiums than some competitors
Below-average ranking in most recent J.D. Power Dental Plan Satisfaction Study

HIGHLIGHTS

Name of plan: Premier

Monthly premium: $53.37

Annual deductible: $50, separate $50 teeth whitening deductible

Annual maximum: $3,000; annual teeth whitening maximum: $500

Why we chose it: Guardian Direct is our top pick if you’re looking for a dental insurance plan that includes teeth-whitening benefits. Although this is a cosmetic rather than a medically necessary procedure, some dental insurance companies are beginning to cover it.

Guardian Direct‘s Premier PPO plan also offers solid coverage for more essential dental-care needs. Along with covering 100% of preventative care with no waiting period, it covers basic care at 80% with no waiting period, which is higher than what most plans allow — even those with no waiting period often tier their coverage levels so a lower percentage is covered until you’ve had the policy for a period of time. There is a 12-month waiting period before the Premier plan covers major work, but after that, it covers 60%, which is among the highest among the plans we reviewed.

Other dental insurance companies we considered

The following providers didn’t meet the requirements for any of our “Best for” categories. That said, they’re still worthy of consideration if none of our best picks meet your needs or aren’t available where you live.

Cigna

Cigna’s Dental 3000/100 plan (and comparable ones where that one is unavailable) has lower premiums than some of its competitors. However, the benefits are on the more meager side, with only 50% of basic services covered after a 6-month waiting period and a higher-than-usual $100 deductible.

DentaQuest

DentaQuest’s Personal Dental Plan Plus had comparable coverage — and lower premiums — than many of our top picks, but the company’s individual dental PPO plans aren’t available in most states.

Physicians Mutual

Physicians Mutual’s Premier plan had higher premiums than most of our top picks, and you have to have enroll in bank autopay to get the best rate. That said, we did like this plan for its coverage of basic services at 70% with no waiting period, no annual maximums and no in-network deductibles.

What you need to know about dental insurance

The cost of dental care varies widely. Routine cleanings and X-rays generally run from $40 to $97. But more complex procedures like root canals and implants can run into the thousands of dollars. Dental insurance is particularly useful in lowering the cost of these expensive fixes.

In this section we’ll explain how dental insurance works, the most common types of plans available, how much it costs and where to purchase it. By the end, you should have all the information in order to make an informed decision on dental insurance.

How does dental insurance work?

A dental insurance policy covers expenses for checkups, routine cleanings and other dental restorative work such as fillings, implants and crowns. Many providers such as Humana, Cigna and UnitedHealthOne also offer dental, hearing and vision bundles.

Providers are regulated at the state level, meaning plan availability, benefits and rates may vary per state.

Dental insurance waiting periods

Once you have an active policy, insurers may enforce a waiting period on certain services. Although this ultimately depends on the plan type and company, standard waiting periods look a bit like this:

Preventive services: 0 months
Basic procedures: 3 to 6 months
Major services: 12 to 24 months

Dental plans without waiting periods on basic and major services exist, but they’re expensive. Coverage also starts small and increases yearly. For example, implants are immediately covered, but the company will only pay 15% of the total cost, which is very little considering that a single implant can cost over $1,600. The company will pay 50% of the same procedure if a patient waits six months or more.

Although it’s technically major work, orthopedic treatment is considered a separate category for insurers. It’s easier to find coverage for child orthodontia than for adults, but coverage is capped at 50% regardless of the patient’s age.

Companies also enforce a lifetime benefit limit, meaning they will only pay for braces or aligners once for the duration of the policy, up to $1,000 to $1,500.

If you are considering orthodontic treatment, take a look at our article on how much Invisalign costs and the choices available.

What isn’t covered by dental insurance?

Pre-existing conditions

Pre-existing conditions clauses are commonplace in dental insurance plans. Missing teeth, for example, are typically excluded from coverage. This means that if you had a tooth extraction prior to enrollment, your plan won’t pay for implants or bridges to replace missing teeth. Some providers might lift the clause after a certain amount of time and offer coverage for the pre-existing issue, but this depends on the policy’s terms.

Cosmetic dentistry

Dental insurance carriers usually won’t cover cosmetic procedures. Examples of cosmetic dentistry include teeth whitening, dental veneers and orthodontic treatment that isn’t deemed medically necessary.

You’ll also find limited coverage when it comes to tooth fillings. Amalgam, or silver fillings are covered while ceramic and composite fillings might not be, despite being the better option in terms of looks and longevity.

Types of dental insurance plans

The three types of dental plans on the market today are dental preferred provider organization (DPPO or PPO) plans, dental health maintenance organization (DHMO or HMO) plans and fee-for-service plans:

Dental preferred provider organization (DPPO)

DPPO plans have a wider network of dentists, and patients have more flexibility when choosing their doctors. You can see providers both in-network and out of network, but you’ll find the best rates within the dental provider network.

This flexibility comes with a higher price tag — premiums for DPPO plans are more expensive and have higher out-of-pocket costs.

Dental health maintenance organization (DHMO)

A DHMO plan works within a dental provider network. There’s a fixed copayment for each visit, premiums are more affordable and there are no annual maximum limits.

Members of a DHMO plan have a smaller provider network to choose from, and they’ll also need to select a primary care dentist from the plan’s network. Lastly, there’s no coverage for out-of-network providers, and seeing a specialist requires a referral.

Fee-for-service plans

Fee-for-service plans pay a flat rate for eligible services. This plan type allows greater flexibility because patients can visit the provider of their choice.

On the downside, out-of-pocket expenses are higher. Patients can either make a copayment at the dentist’s office or pay upfront and then file a claim for reimbursement with their insurance provider.

Dental discount plans

A dental discount plan is not dental insurance. It’s a membership program that charges a monthly or annual fee in exchange for discounts on eligible dental services of participating providers. These plans are offered by providers such as 1Dental as well as many dental insurance companies.

There are no waiting periods on any services, and most procedures benefit from a discounted rate — even orthodontics. With dental discount plans, uninsured individuals can still access dental care at a reduced cost. However, discount rates vary from 10% to 60% and the network of participating dentists may be smaller.

Besides dental discount plans or preventive coverage, you can invest in additional products to brush up on your dental hygiene. Devices like electric toothbrushes and water flossers help keep cavities and gum disease at bay.

How much is dental insurance?

Dental plan premiums range from $17 to $96. Cost varies per plan type, coverage level and state of residence.

The plans with the lowest premiums cover preventive dental care and offer minimal or no coverage for basic and major services. On the other hand, the plans with the highest premiums tend to have shorter or no waiting periods, high annual limits and comprehensive coverage for preventive, basic and major work.

If purchasing a dental insurance plan doesn’t make sense for your financial situation, consider low-cost alternatives to dental health insurance such as dental school clinics and state assistance programs.

Cost of common dental procedures

The cost of dental care depends significantly on the provider, the location and whether the patient’s insured.

To give readers a general idea, we looked at the average cost of common dental procedures in the Survey of Dental Fees published by the American Dental Association (ADA). Then, we calculated how much that procedure would cost with an insurance policy that covers 100% of preventive care, 80% of basic dental work and 50% of complex procedures.

Here’s what we found:

	Cost without dental insurance	Cost with dental insurance
X-rays	$40 – $143	$0
Cleanings	$73 – $97	$0
Dental filling	$171 – $471	$34 – $94
Root canal	$369 – $1,325	$184 – $662
Dental crown	$528 – 1,386	$264 – $693

Additional costs to consider

Policyholders pay monthly premiums for their coverage, but that’s not the only expense to keep in mind.

Deductibles

A deductible is the amount you pay before your insurance coverage kicks in. Most dental insurance companies set annual deductible rates at $50 per person and $150 per family. Other providers charge a one-time deductible, but plans with this type of deductible tend to have higher premium rates and a higher deductible ($100-$200 for individuals and over $400 for family plans)

Coinsurance

Coinsurance refers to the portion of dental care a policyholder must pay out-of-pocket after they meet the deductible and the insurance coverage kicks in.

Imagine you need a root canal that costs $1,000 and your dental insurance covers 80% of the procedure but charges a $50 annual deductible. If you already met this deductible on a previous visit, the coinsurance for the root canal would be $200 (20% of the total cost). However, if you haven’t yet met the $50 deductible, the procedure would set you back $250.

Copayment

A copay (or copayment) is a fixed fee that policyholders pay each time they seek specific services or products like prescriptions and office visits (no matter if they’ve met the policy deductible or not). Copay rates should be listed on your insurance card or policy document.

Annual maximum limits

A policy’s annual maximum limit establishes the highest dollar amount a provider will pay for dental care in a calendar year. Most policies set limits between $1,000-$1,500, depending on the plan type and service. Certain services like orthodontia have a separate payout cap.

Once you exceed the benefit maximum, all other dental expenses payments come out of your pocket. For family plans, the annual maximum limit applies to each individual separately.

Is dental insurance worth it?

Individual dental plans — those purchased by people instead of employer group plans — aren’t always worth it. You might end up paying more in premiums, deductibles and copays if the plan’s level of coverage doesn’t match your dental care needs.

Most plans offer 100% coverage for preventive care with no deductible, copays or annual limits and such benefits may be worth the cost of dental insurance. However, your savings are significantly reduced when it comes to basic and major work coverage.

Most providers only cover 50% to 80% of these procedures and set annual maximum limits that rarely exceed the $1,000-$2,000 range. A patient that needs major work may reach this limit fairly quickly and pay a significant amount on top of the monthly premiums. That said, enrolling in a dental plan grants you access to negotiated fees and rates at the dentist’s office that could save you money.

How to get dental insurance

Most people have access to dental insurance through their employer. However, those who are uninsured or underinsured – like Medicare beneficiaries – need to purchase a standalone policy if they want dental coverage.

Our guide on how to get dental insurance with Medicare can help you with this process.

You can also purchase a standalone dental plan directly with the insurance company or through a marketplace. Dental plans sold on Healthcare.gov have to meet the criteria set by the Affordable Care Act, which include offering coverage for pediatric dentistry, emergency services and prescription drugs.

Getting dental insurance is easy if you follow these guidelines to pick the best dental plan provider:

Identify your dental needs

A young adult with healthy teeth has very different dental care needs than a child with malocclusion or an older adult with tooth decay or gum disease. We recommend writing down the dental care needs of you and your family to make it easier to find providers that cover these procedures.

A general rule of thumb is to look for plans that cover 100/80/50: 100% preventive coverage, 80% basic work and 50% major work. However, it’s important to see what’s included in each percentage. A policy covering 50% of major work but excluding implants may be useless if your main concern is missing teeth.

Review the different types of dental plans

We go over common dental plans in our types of dental plans section. Revise each one to see which fits best in terms of coverage options and cost.

Check out which plans are available in your state

Providers don’t offer the same dental plans for every state. For example, Delta Dental offers five dental plans nationwide, but our sample quotes for California, New York and Miami returned only three options.

Check the provider network

Verify that your preferred dentist or specialist is part of the insurer’s provider network before enrolling.

If you have a preferred dentist or specialist, verify that they are part of the insurer’s provider network before enrolling. Even if you don’t have a dentist of choice, we recommend you look at the insurer’s dentist directory online to check how accessible the provider network is. You can search by name, specialty or location to see how many in-network dentists and specialists are nearby.

Compare cost vs value

Besides premium rates, deductibles, coinsurance and annual limits all factor into the overall cost of dental care. Sometimes, patients pay too much for dental insurance and get minimal coverage in return, especially on preventive and basic services.

To make sure the plan is worth it, tally up the insurance cost and compare it to the coverage benefits and an estimate of your yearly dental expenses.

Verify providers with regulatory agencies

Check the companies of your choice (and their subsidiaries, if applicable) with state regulatory agencies. You can also look up any licensed insurance provider with the National Association of Insurance Commissioners (NAIC), which registers and analyzes consumer complaint data from across the country.

Best Dental Insurance FAQ

What is the best dental insurance?

The best dental insurance for you and your family will depend on your needs and your budget. Consider what kind of dental work you anticipate needing, keeping in mind that many dental plans impose waiting periods before they will cover care, especially major work. If you or someone in your family needs braces, dentures or an implant, read each policy carefully to be sure you understand what kind of coverage your plan offers for these services.

What is the best dental insurance with no waiting period?

In addition to our pick for the best dental plan with no waiting period above, we’ve highlighted some other plans that have short or no waiting periods in this guide.
The best dental insurance policies have no waiting periods for preventative care. It is less common to find dental plans that waive waiting periods for all procedures, even for major and restorative work. Those that do generally have reduced reimbursement levels initially.

What is full-coverage dental insurance?

Comprehensive or full-coverage dental plans generally have the highest premiums, but they offer the most complete insurance. The best full-coverage dental insurance plans cover preventative and diagnostic care at no out-of-pocket cost to you.
They usually cover 80% to 90% of the costs for minor care, such as fillings; they typically cover between 50% and 60% of the costs for major work, such as crowns.

Does dental insurance cover braces?

Coverage of orthodontics is included in some plans, but it by no means universal, especially if you need braces as an adult. Additionally, braces have separate reimbursement terms, and specific restrictions apply.
Insurers generally cover 50% orthodontia up to a lifetime payout limit of $1,000 or $1,500. Furthermore, the insurance payout amounts to a fraction of the true cost of treatment, which generally averages $5,000 to $6,000.

Insurers generally cover 50% orthodontia up to a lifetime payout limit of $1,000 or $1,500. This means dental insurance will only pay for braces once during the patient’s lifetime. Furthermore, the insurance payout amounts to a fraction of the true cost of treatment, which is generally between $3,000 and $6,000.

Does dental insurance cover implants?

Coverage of dental implants varies widely. Some plans include them under the umbrella of major care, but some exclude them or impose additional conditions or limitations. Expect to have a waiting period before a plan will cover implants, and expect to have out-of-pocket costs in any case.
Additionally, the cost of an implant, typically between $3,000 and $7,000, is higher than many plans’ annual coverage maximums.

Methodology

To rank the best dental plans, we evaluated:

Coverage benefits for preventive, basic and major services – Our top picks offer 100% coverage on all preventive services without any waiting period. We looked for plans that had shorter — or no — waiting period for basic and major coverage, as well as coverage levels that reach at least 80% for basic coverage and 50% for major coverage after the waiting period.

Annual maximum limits – Most dental plans limit payouts to $1,500 or $2,000 per year. Providers that set annual limits under $1,000 didn’t make the cut, and we prioritized plans that offer limits of $3,000 or more.

Premium rates – While comprehensive PPO plans tend to have higher premium than more bare-bones offerings or HMO plans that restrict you to seeing an in-network dentist, we evaluated plan premiums in the context of the scope of coverage they offered. While premiums vary based on where you live and sometimes by age and sex, we used the same criteria for comparing each plan, obtaining sample quotes for individual plan premiums based on the profile of a 30-year-old woman living in the Houston metropolitan area. (While New York City, Los Angeles and Chicago are all larger cities than Houston, state-specific regulations in each of those states make it challenging to do an apples-to-apples comparison of plans.)

Customer satisfaction – We reviewed the complaint index set by the National Association of Insurance Commissioners and each company’s ranking in J.D Power’s 2023 U.S Dental Plan Satisfaction.

Latest news

As the price of dental care continues to rise, an overwhelming 92% of respondents in a recent survey said they would consider delaying dental care because of the cost. Roughly 62% of adults under the age of 65 have private dental insurance, according to the American Dental Association. The organization found that those with insurance are more likely than those without to visit a dentist, and by a whopping 32 percentage points.

Traditional Medicare doesn’t cover dental insurance for seniors, so many private Medicare Advantage plans offer dental coverage. A recent study, though, found that most Medicare Advantage dental coverage is lacking, and that the added cost seniors pay for Medicare Advantage plans with dental coverage doesn’t lead to better outcomes.

Summary of Money’s Best Dental Insurance Plans

Denali Dental – Best Overall
Delta Dental – Best for Braces
Spirit Dental – Best for Value
Ameritas – Best for No Waiting Periods
Guardian Direct – Best for Teeth Whitening

How to Buy Gold

April 18, 2025 Ogghy Filed Under: Money.com, SUCCESS

Gold has been a coveted asset for thousands of years. Today is no exception. Whether investors plan to buy the metal in its physical form as coins or bars, or as gold-backed securities like gold stocks and gold exchange-traded funds (ETFs), there are plenty of reasons to consider adding the precious metal to an investment portfolio.

Gold has long been considered a safe-haven asset because when prices of other investments — like stocks or real estate — drop sharply, gold historically retains its value. In some instances of market volatility or market downturns, the precious metal may even gain value while other asset classes experience losses as panicked investors rush to buy what they consider a low risk store of value.

Some experts also see gold as the ultimate hedge to protect against inflation since the yellow metal has retained its value for centuries and recently appreciated to an all-time high. Due to its inverse relationship with fiat currency, gold tends to rise in value when the U.S. dollar weakens. So during periods when people experience eroded purchasing power, the precious metal tends to increase in worth.

But when does it make sense to buy gold? And what’s the best method? In this review, we share everything you need to know about how to buy gold, including the benefits and downsides of buying physical gold or investing in different types of gold-backed securities.

Buying gold

If you’re interested in buying gold, there are principally two ways to do it: (1) purchasing physical gold or (2) investing in gold-leveraged securities like gold stocks, mutual funds or ETFs. Depending on your investment strategy, expertise and the level of risk you’re willing to take, you may find one or the other more appealing.

Read on to learn how you can buy gold, whether or not it is a good investment and if it is the right fit for your goals.

Gold bullion

Bullion is physical gold of high purity and usually comes in the form of ingots, bars, coins or rounds. Rounds are often confused for coins — like the U.S. Mint’s American Gold Eagle — because of their circular shape. However, they are closer to gold bars in that they don’t have value as legal tender and do not differ in design from one year to the next.

Bullion derives its value from the gold content of the precious metal rather than the form of the metal, and it’s measured in what’s known as a troy ounce (standardized at 31.1034768 grams or 1.09714 ounces). You can purchase gold bullion bars in various weights, with bars ranging from 1 gram to 1 kilogram. Investment-quality gold bars are 99.5% (995) pure gold, which is the international standard. Legitimate bars are stamped with the manufacturer’s name, purity and the weight.

Like any investment, there are pros and cons of having gold in your portfolio. Here is a brief overview of the benefits and downsides of owning the physical precious metal:

Pros of buying gold bullion

When you own gold, you own a physical, valuable asset that can be easily passed on to others. Additionally, gold bullion provides stable value and you don’t need to watch it closely like you would with a portfolio of stocks, mutual funds, ETFs and bonds.

Cons of buying gold bullion

You may need a secure vault and/or gold insurance to protect it, especially if it’s held in a gold IRA, for which the IRS maintains strict guidelines on gold purity standards and off-site storage requirements.

There are many reputable gold dealers, but scams are commonly committed by fraudulent online dealers. Gold dealers typically charge a markup — known as the spread — from the precious metal’s spot price when you buy or sell it. In some cases, the markup could be 10% or more of the gold’s value. Read about the best online gold dealers to learn more.

Lastly, it can also be difficult to determine the purity of gold on your own, presenting a challenge in verifying the quality of the physical gold you purchase.

How to buy gold bullion

There are many retailers that allow you to buy gold online and feature a variety of gold coins, rounds, bars and ingots. Sellers routinely mark up the price of physical gold from its current spot price, so be prepared to pay more than the actual value of the gold itself.

These online gold dealers often offer discounts to members of the military and for buying in bulk. Buying more than 100 gold bars (or 500 gold coins) is considered a bulk purchase, but this will depend largely on the individual seller. You may also be able to buy smaller gold bars, ranging from half a gram up to 100 grams, in stores that specialize in numismatics, pawn shops or some jewelry stores.

Where to buy gold bars

For investors interested in purchasing these physical gold assets, our guide on how to buy gold bars includes a comprehensive breakdown. Some well-known, reputable dealers that sell gold bars include:

APMEX
American Hartford Gold
JM Bullion
Provident Metals
Westminster Mint
Money Metals Exchange

Where to buy gold coins

Several governments, including the U.S., as well as many private mints currently manufacture gold coins. Some of the most well-known government gold mints in the world include:

The United States Mint
The Royal Canadian Mint
The Royal Mint of the United Kingdom
The Central Mint of the People’s Bank of China
The Perth Mint in Australia

Some of the most well-known privately-owned gold mints in the world include:

New Zealand Mint
Sunshine Minting
Valcambi
Austrian Mint
South African Mint
Geiger Edelmetalle
PAMP Suisse

Coins issued by the U.S. Mint are technically legal tender, meaning that in theory, they could be used to pay for goods and services. However, the value of gold coins tends to be much higher than their face value. Collectible coins may have an even higher market value due to their rarity or potentially higher demand. Popular minted coins include:

American Eagle
Gold Buffalo
Canadian Maple Leaf
South African Krugerrand
Vienna Philharmonic
Mexican Gold 50 Pesos
British Sovereign
Australian Kangaroo

Minted coins usually range in size from one-tenth of an ounce to an ounce to accommodate various investors’ buying power. Their purity is usually between 22 and 24 karats, with the purity guaranteed by the mints that produce them. You can buy gold bullion coins from:

Mints
Coin shops
Online dealers
eBay
Coin shows

Where to buy gold jewelry

When buying gold jewelry, keep in mind that the price you pay will be tied to the craftsmanship of the piece and, importantly, that the amount of gold content will be just a percentage (karat) of its overall weight. In effect, this means you’ll be paying more money for less gold.

For example, the most common type of gold used in jewelry in the U.S. is 14K gold, produced from 58.3% pure gold and 41.7% of other metals like copper and silver. Other common mixtures of gold are 18K and 22K. On the other hand, 24K gold — like investment-grade gold bars — is 99.95% pure gold and contains no other metals. However, it is rarely used for jewelry because it is softer and more malleable because of its purity.

Some jewelers take steps to assure customers that their gold doesn’t come from areas of armed conflict. These pieces are often sold with the tags “ethical,” “conflict-free” or “sustainable.” For example, Fairmined jewelry may have a Fairmined stamp to assure it comes from a responsibly-managed community mine.

Investing in gold

If purchasing physical gold doesn’t seem like the right fit for you, you can invest in a variety of gold-backed securities. These investments can be made through brokerage accounts and online trading platforms and include shares of gold mining stocks, gold streaming stocks and gold ETFs.

Some examples of how you can invest in gold outside of the physical metal include gold ETFs, like the VanEck Gold Miners Equity ETF (GDX); gold mutual funds, like the Fidelity Select Gold Portfolio Fund; stocks of gold miners and refiners, like Newmont Corp. (NEM) and Barrick Gold Corp. (GOLD); and gold futures contracts, through exchanges like the Chicago Mercantile Exchange.

To learn more, read our guide about how to invest in gold.

Should you buy gold?

Pros

Gold is a tangible asset that is highly liquid, meaning it’s easy to quickly find a buyer if you need to sell.
Gold has historically been considered a hedge against inflation, since the price of gold tends to keep pace with the cost of living.
Gold can be used to diversify your portfolio because it tends to rally when other asset classes — such as stocks and real estate — fall in value.

Cons

Gold doesn’t produce income like bonds or dividend-paying stocks and ETFs. In the long run, these other assets are likely to outperform gold.
Gold prices can experience volatility.
There are additional costs associated with buying, selling and holding physical gold as an investment.

Owning gold can be a way to diversify your investment portfolio. Gold is also considered to be a good way of protecting your money from inflation. But, as with any investment, there are risks. Gold can be volatile in the short term and can lag behind equities in terms of long-term price appreciation.

Before purchasing physical gold or investing in gold-backed securities, make sure it fits with your investment strategy, financial goals and risk tolerance.

Gold and diversification

Diversification — which entails owning a mix of different assets — aims to help shield investors from dramatic losses. In a well-diversified portfolio, when prices for one type of investment decline, you’re insulated by the prices of others, which can potentially offset losses.

While gold’s price can be volatile in the short term, it often has an inverse relationship with stock and bond prices. In fact, during financial calamities when investors tend to flee the stock market, gold prices often rally. When the S&P 500 fell around 30% between November 2008 and March 2009, the price of gold was up by about the same amount.

However, this isn’t always the case. During 2022’s bear market when the S&P 500 lost nearly 20%, the price of gold also dropped. But it only fell by -0.1% by year’s end, ultimately beating many other asset classes. Additionally, when gold hit its all-time high in October 2024, the S&P 500 was continuing its bull market run that began in 2023.

Nonetheless, owning some gold alongside stocks and bonds is one way to diversify your investment portfolio. Just be mindful that financial advisors typically don’t recommend investing more than about 10% of your overall assets in gold or precious metals in general.

The ethical concerns of buying gold

Investors have increasingly been looking for investments that align with their viewpoints. That has been coupled with the emergence of environmental, social and governance (ESG) investing. Gold mining can have significant environmental impacts and mining practices have raised concerns about labor practices and human rights, as many gold mines are located in conflict-affected areas and impoverished nations.

In 2019, the World Gold Council took steps to implement guidelines for member companies, as did the International Council on Mining and Metals. Both require that participating mining companies publish information on their progress publicly, making it easier for consumers and investors to find and use as consideration for their purchases.

How to Buy Gold FAQs

What is the price of gold today?

The price of gold fluctuates daily, but the precious metal hit its all-time high in December 2023. Price fluctuations can be attributed to multiple factors, some of which include the monetary policies of various nations’ central banks, the value of the U.S. dollar and overall market conditions.

In the U.S., the COMEX is the primary exchange for gold futures, and therefore the place where the most-widely quoted gold prices are set. The London Bullion Market Association also provides a twice-daily fixed gold price used as a benchmark for large market participants.

In general, look for what’s known as gold’s spot price, which is the price at which buyers and sellers are willing to trade gold on any given day, as opposed to some future date.

Is gold a good investment?

Gold is considered a hedge against inflation and can be used to diversify your portfolio. It’s also a highly liquid asset, so you’ll be able to find a buyer for your gold when you need to sell.
However, don’t expect high returns with gold compared to other asset classes like stocks. It is a considerably stable investment, but over the long term, gold is likely to be outperformed by securities.

Where can I buy gold?

You can buy physical gold from dealers like JM Bullion and APMEX, as well as pawn and jewelry shops. Keep in mind that purchasing gold from jewelry stores and pawn shops could be riskier as it could end up being a lower karat and have a higher markup. You can also buy gold-backed securities — like gold stocks, gold-leveraged ETFs and mutual funds as well as gold futures — through a brokerage or online trading app.

Do you have to pay taxes on gold?

Profits from trading securities (e.g, stocks, ETFs, mutual funds, CDs and bonds) are considered capital gains and are taxed at special long-term and short-term capital gains rates. Short-term capital gains taxes can range anywhere from 10%-37%, while long-term capital gains taxes are 0%, 15% or 20% depending on your taxable income. One exception is for ETFs backed by physical gold (not gold mining companies), from which gains are taxed as collectibles rather than capital gains.

The IRS views profits you earn from trading physical gold and other collectibles differently. If you own physical gold for less than one year, gains are taxed as ordinary income. If you own physical gold for longer than one year, gains are taxed at a maximum 28% rate.

Summary of How to Buy Gold

Gold investments are considered a hedge against inflation and, historically, a store of value. They also offer the benefits of portfolio diversification. However, consider the risks of investing in gold before adding the precious metal to your portfolio.

Most financial advisors recommend not investing more than 5% to 10% of your overall portfolio in alternative assets like gold. Because the price of the precious metal remains relatively stable — unlike speculative investments like cryptocurrency — it offers a safe haven for investors. But because the physical metal doesn’t generate income, gold is unlikely to produce the large gains that other asset classes like stocks and real estate are capable of.

If you decide to invest in gold, you can purchase the physical metal (i.e., gold bullion ingots, bars, coins or rounds) or invest in gold-backed securities (i.e., stocks, ETFs, mutual funds and futures).

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