Modesto homeowners pay $885 per year for coverage on a $250,000 home, compared to the average cost of homeowners insurance at £1,312. Residents should still consider their options in order to find the most affordable homeowners insurance.
Bankrate identified the five top-rated Modesto homeowners insurance providers based on affordability and coverage options. They also included discounts that are available, average customer satisfaction index rating, and availability of discounts. This breakdown will help homeowners find the best coverage for their needs.
Best Home Insurance Companies in Modesto
Below is a table that lists the top affordable home insurance providers for Modesto. It is based on their average annual premiums for a $250,000 residence and customer satisfaction index rating. The sections below provide more information about each company’s available discounts and coverage options.
Mercury Insurance Group policyholders will pay only $523 per year for homeowners insurance coverage on a Modesto dwelling worth $250,000. Mercury also offers additional coverages, including personal property, extended replacement costs, additional living expenses and identity theft protection.
Homeowners can cut down on their premiums by bundling their auto and home insurance. They can also save money by having protective devices installed, having their homes built from fire-resistant materials, upgrading to a newer house, or living in a gated community. Unfortunately, J.D. Power has not received a Mercury customer satisfaction rating from J.D.
Progressive is the most affordable homeowner insurance provider in Modesto, with a cost of $519 per year for coverage on a $250,000 home. The company offers standard coverages that include dwelling coverage, other buildings, personal possessions and loss-of-use. They also offer medical payments. The provider offers additional coverages such as water backup and personal injury.
Progressive may be the lowest-priced provider on the list. However, homeowners can still save more with the many discounts offered by the company. Bundling your auto insurance with Progressive can help policyholders save money. They can also get a quote ahead of time, have certain safety devices in their home, sign up for edocuments, purchase a new home, or pay for all their policies.
State Farm offers affordable homeowners insurance coverage. Although the provider doesn’t offer additional coverage beyond medical and personal liability, they offer comprehensive coverage in their standard dwelling policies. This standard policy provides homeowners with protection for jewelry, collectibles and photos, as well as electronic, electronic, lawn decorations, swing sets, tools, and clothing. You are covered for theft, vandalism, arson and vandalism. This provider has a unique advantage: State Farm’s base insurance covers damage caused by accidental discharge of water from your pipes, the tearing or bulging HVAC equipment, and artificially generated electricity currents.
State Farm is similar to USAA in that it offers policyholders only three major discount options: multi-policy bundles and home alert protection systems.
The average cost of a travelers home insurance policy beats the regional average by $215 despite it being the most expensive homeowner insurance provider. The coverage options offered by Travelers range from the simple (dwelling, other buildings, personal property loss-of-use and personal liability) to the more comprehensive (special personal property and contents replacement cost, additional cost protection, jewelry, valuables, water backup, sump pump discharge and identity fraud, green house). If you have many valuables, Travelers offers several coverage options.
There are many ways that Travelers customers can save. You can get discounts for purchasing multiple policies, purchasing a home in the last year, having no claims, installing eligible protective devices, and being a “green” home certified by the Leadership Energy and Environmental Design Organization.
USAA homeowners Insurance is an affordable option for those who live in Modesto, whether they are a veteran, active military member or spouse. Standard dwelling coverage is offered by the provider. Other options include loss-of-use and personal liability, home sharing and earthquake coverage. As with all providers, adding optional coverages may increase your premium.
USAA offers only three discount programs: Bundling an auto policy with zero claims for five years or more, ADT home security system installation and bundling it with an auto insurance policy. However, the ADT program is more of a partnership than a discount. USAA credits eligible policyholders with security system installation costs. USAA is not eligible to receive a J.D. ranking. The company has the highest customer satisfaction score at 905/1000. This is due to the fact that it only serves military personnel and their families.
Modesto Home Insurance Options
Although homeowners insurance is not required by law, most mortgage lenders require that applicants have a policy in place to get loan approval. The standard home insurance policy does not typically cover disasters such as earthquakes, identity theft, or failures of the plumbing system. It is therefore important to have additional coverage to protect yourself in the event of an unexpected. These are some additional coverage options Modesto residents should look into when looking for home insurance providers.
- Replacement cost coverage: Modesto has a much higher crime rate than the rest of California. Robberies, burglaries and thefts are all common in Modesto. Replacement cost coverage is available to cover the cost of replacing stolen items in the event of a home being robbed.
- Earthquake coverage: Modesto is at high risk for earthquakes. The city has experienced almost 80 earthquakes over the past 90-years. Modesto residents should look for additional coverage that covers earthquake damage, as most homeowners insurance companies do not cover it.
- Water Backup Coverage If your plumbing system has not been updated in recent years, it could be in serious trouble. If you don’t have a water backup plan, you’ll be responsible for any water damage caused by a plumbing system failure.
Modesto Home Insurance Discounts
Modesto residents might not have to pay the same amount for coverage as those in other parts of the United States. However, that doesn’t mean they don’t need to take advantage any discounts available. There are many discounts offered by insurance companies to policyholders.
- Multi-Policy Discount: You may be able save some money by bundling your auto and home insurance policies from the same provider.
- Discounts for Home Security Systems: There are many insurance companies that offer discounts to homeowners who have qualified home security systems.
- No Claims Discount: Policyholders with zero claims within the last five years could be eligible for a discount, depending on their provider.
- Home Age Discount: Insurance companies offer discounts to homes older than a certain age.
Multi-policy discounts are the best option for those who want to save the most on available discounts. According to Travelers’ website policyholders who bundle at minimum three policies can save on average 12% on their insurance costs.
Most Frequently Asked Questions
Which is the best company for home insurance?
The best Modesto home insurance company depends on your coverage requirements, budget, and preferred customer service experience. We recommend doing extensive research to find the best coverage for you.
What is the cost of Modesto home insurance?
For coverage of a $250,000 home, the average cost for homeowners insurance in Modesto was $885 per year. Homeowners can also save more by finding the most affordable home insurance providers in their area.
What amount of home insurance do you need in Modesto
There is no minimum amount of home insurance required by law. Your mortgage lender might specify the policy limits that you must have to be approved for a loan. Insurance experts recommend that you obtain a policy that covers the entire cost of replacing your home if it becomes unsafe or unlivable. This number can be determined by taking inventory and examining all your belongings.