San Diego is a desirable place to live because of its beautiful beaches and sunny climate. However, the city’s geographical location makes it more vulnerable to natural disasters such as earthquakes, wildfires, and landslides. Proper insurance coverage may be an important part of your financial plan if you’re one of the 53.3% homeowners.
San Diego’s average annual cost for a standard home insurance policy is $926. This is lower than the national average of $13,312. Home insurance is required even though it is not required by law. Bankrate has done extensive research to find the best San Diego homeowners insurance.
San Diego’s best home insurance company
Bankrate’s editorial team for insurance reviewed companies based upon a variety of factors such as average premiums from Quadrant Information Services and third-party ratings, available coverages, and discounts offered. These companies may be worth considering when shopping for home insurance in San Diego:
USAA
USAA home insurance is only available for military personnel and their immediate family members. J.D. consistently gives the company high marks. Power, even though it is not eligible to be ranked. USAA provides basic coverage options, as well as a few endorsements such home sharing and earthquake coverage.
Although the company doesn’t offer any discounts, its average premium is so low that discounts may not be required to lower your price. However, you can save money by insuring multiple policies and not having to pay claims.
Mercury
Mercury offers some of the lowest average home insurance rates in San Diego. J.D. did not rate Mercury. Although Mercury was not rated by J.D. Power, the company received a 0.00 complaint index score from the National Association of Insurance Commissioners. This means that very few complaints or none were filed in 2020.
Mercury offers a variety of additional options like home systems protection, service coverage and identity management. Bundling policies, living within a gated community or purchasing a new house with safety devices may help you save money on your policy.
Travelers
Travelers is a great choice if you’re looking for home insurance that can be customized to your needs. Travelers offers many optional features such as water backup, personal property coverage, extra replacement cost coverage, contents replacement costs, and identity theft protection.
Even though Traveler’s premium is a little lower than the average for the city, there are still many ways to save. Green home, loss-free multi-policy, protective device, and new homebuyer discounts are available.
Progressive
Progressive’s home insurance policies are underwritten American Strategic Insurance (ASI). They offer customizable coverage that can be tailored to your specific needs. Progressive’s Home Quote Explorer tool is one of its most distinctive features. It allows you to compare home insurance quotes from multiple providers all from Progressive’s site.
Progressive offers a wide range of discounts. Progressive may offer savings by bundling auto and home policies, purchasing safety devices, and signing up for paperless billing.
All over the country
The average premium for Nationwide is higher than that of the city, but it’s still lower than the average. It offers many endorsements that are helpful, such as earthquake coverage, identity theft protection, and valuable item coverage.
You may be able to reduce your annual premium by discounts on safety devices, roof upgrades, prior insurance, policy bundling, and being completely free from claims for a number years.
San Diego home insurance options
Although home insurance is not required by law, it can be a necessity if you have a mortgage on your property. You can feel more secure and calm by having home insurance. For additional coverage, you might consider adding these endorsements to your basic home insurance policy:
- Flood insurance – Standard policies don’t cover flood damage. Private carriers may offer separate flood insurance policies. Flood insurance can also be purchased through the National Flood Insurance Program.
- Flood insurance: Although earthquake damage is not usually covered by a homeowner’s policy, you might be able to add it to your home policy. California Earthquake Authority offers coverage.
- Water and sewer backup: A standard home insurance policy does not cover damage caused by water backing up into a drain or sewer line. You can save money by adding water and sewer backup coverage.
Each home insurance company has a different set of coverages. Talking to an insurance professional is a good way to find out what coverages you need and how much.
San Diego home insurance discounts
Most companies offer discounts to customers who are eligible in order to offset the high cost of home insurance. You can lower the cost of your insurance premium by taking advantage discount offers. While discounts vary by insurer, the following are some of the most popular:
- Claims-free: You may be eligible for a discount if you haven’t filed a claim for several years.
- Safety devices: Installing anti-theft, smoke alarms and sprinklers in your home can lower your premium.
- Paid-infull: You might be eligible for a discount if you pay the entire policy. If your premium for home insurance is paid out of your mortgage escrow account, this option may not be available.
- Bundling policies: You could save money if you buy multiple types of insurance from one carrier.
Although you can research discounts offered by companies online, each company is different so it’s worth speaking to someone to find out what discounts are available.
Questions frequently asked
Which is the best company for home insurance?
Insurance is personal. What suits you may not work for others. Your needs will determine the best home insurer. A company with a high level of customer satisfaction, exceptional third-party ratings, and unique coverage options is a good choice.
What is the cost of home insurance in San Diego?
The average home insurance policy in San Diego costs $962 per annum. This is lower than the $1,312 national average and California’s $1,014. Your specific rating factors will affect your premium, such as your claims history, home value, and the coverages you select.
What amount of home insurance do you need in San Diego
Although home insurance is not required by law, your mortgage lender may require that you have it. You should consider the rebuilding costs of your home, personal property, and any special items you require coverage for when deciding on how much coverage you want. It is important to consider your liability exposures such as trampolines and pools. An insurance agent licensed can help you determine the right coverage for you.
