It is difficult to own a house in San Francisco. Only national average $1,312. The average cost of home insurance for a $250,000 dwelling coverage is $982. Insurance is a smart decision for homeowners. It covers your most costly investment against unforeseeable catastrophes, but also protects your savings in case of a natural disaster.
San Francisco’s best home insurance company
San Francisco is the fourth-largest city in California. However, not all home insurance companies are affordable. These are the top five most affordable insurance companies in San Francisco, based on price, coverage, discounts and customer service.
Mercury
Mercury is the national insurer that offers home insurance at low rates in San Francisco. Mercury is known for being affordable and providing high customer satisfaction. Mercury offers a wide range of add-ons including identity theft protection and extended replacement cost. Rates start at $521 per year. There are discounts available for policy bundles, new constructions, and safety features like burglar and smoke alarms. Mercury is rated A by AM Best for financial strength and has agents across the country. The downside is that you cannot file online claims. You will need to contact the 24/7 customer support line in order to submit a claim.
USAA
USAA offers the best home insurance policies to military families, whether you’re an active member or retired soldier. The USAA standard home insurance policy is highly rated for its customer service, affordability, financial strength and customer service. It costs $572 per annum in San Francisco. There are also attractive add-ons like home sharing coverage, earthquake coverage and valuable property coverage. You can get discounts on military deployment, policy bundling and safe home, as well as annual premiums that are fully paid.
State Farm
State Farm has 19,000 agents across the country, and 18% of the market share. It is the largest U.S. insurer, but it also offers the lowest prices in San Francisco. Prices start at $572 per annum for $250,000 dwelling coverage. State Farm offers additional coverage beyond basic dwelling, personal property, and liability. It also allows you to insure jewelry and other collectibles as well as electronic gadgets like computers and cameras, and musical instruments. Discounts are available for homeowners who have an impact-resistant roof or safety features, and bundle multiple policies. State Farm is a technology-friendly company. You can expect to be able to do everything online or via the mobile app, without needing to speak to anyone. You can manage your policy online and file a claim. If you need any assistance, your local agent will be there.
Travelers
A standard policy from Travelers Insurance in San Francisco costs $661 annually. It also offers liability, dwelling, and personal property coverages. You can also choose to add additional riders. You can add on additional replacement cost, other structures and loss of use coverage, as well as jewelry and valuable item coverage, identity protection, and green home. You can get discounts on a new home if you buy within one year.
Progressive
Progressive, a financially sound and well-respected company, is an affordable choice for home insurance in San Francisco. Progressive offers an extended replacement cost as part its standard coverage. The online tools and resources make it easy to manage your policy and file claims. Progressive doesn’t underwrite home insurance policies. If you do file a claim, you will work with another company. Progressive does not offer any add-ons to its mobile app. The mobile app can only be used for auto insurance.
There are other San Francisco home insurance policies you might be interested in.
It is not mandatory in the United States to have home insurance. Your house is likely your most valuable possession. Home insurance will give you peace of mind and prevent your savings from being used for costly home repairs. San Francisco is susceptible to earthquakes, wildfires, and storms. A standard policy will cover you. However, there are additional coverages that may be of interest to you.
- Loss of Use coverage: If you add loss-of-use to your home insurance policy you can be sure that you will be financially protected in the event that your property is damaged or rendered unlivable.
- Earthquake insurance: While not included in a standard home insurance policy earthquake insurance can be purchased separately at any national insurer. You can also look into coverage options offered by the California Earthquake Authority if you are not able to obtain coverage through a private insurer. This includes earthquake damage.
- Home sharing coverage: San Francisco is a popular tourist destination so it might be an option to have your home covered for any damage that may occur when guests are staying there. Many national insurance companies offer home sharing coverage. This coverage is becoming increasingly popular for hosts who have guests staying in their homes.
San Francisco Home Insurance Discounts
All insurance policies have different prices. San Francisco is a costly city so it’s always a good idea to take advantage of discounts to lower your annual premiums. While they can vary between insurers, the most common home insurance discounts offered by most companies include:
- You may be eligible for a discount if you have fire alarms and burglar alarms installed in your home.
- Green home: You may be eligible for a discount if your house is made with sustainable and eco-friendly materials.
- Bundling policy: If you have home and auto insurance, you may be eligible for a discount.
- A discount may be available for new construction
- Claims-free: You may be eligible for a discount if you don’t file a claim within a specified time frame.
Questions frequently asked
Which is the best company for home insurance?
Insurance is highly individual and depends on the needs of each customer. This makes it difficult for one provider to be considered the best in a crowded market. The most well-respected home insurance companies offer the best rates, great customer service, coverage, and discounts. This top home insurance companies list can help you get started.
What is the cost of home insurance in San Francisco?
Home insurance in San Francisco is $982 per year for a $250,000 dwelling coverage.
What amount of home insurance do you need in San Francisco
Your location, climate, house size, and budget will all affect the coverage you require. You can add additional options to your policy to increase your security beyond the standard coverages.