San Jose’s home ownership costs are high. This is why San Jose’s homeownership rates of 55.3% and 63.9% nationwide is so low. San Jose homeowners have a lower cost of insurance. Home insurance in San Jose is on average $832 per annum for policies with $250K of dwelling coverage.
The average cost for home insurance in San Jose may be lower than the US average rate. However, there are still ways that San Jose homeowners can get a lower premium. Based on their price, coverage options and other factors, we found five companies offering the most affordable home insurance in San Jose.
San Jose’s best home insurance company
Below is a list of the most popular San Jose home insurance companies with the lowest rates. These companies were selected based on criteria such as the average annual premium, discounts, coverage options, financial strength, and third-party satisfaction scores.
Mercury
Mercury, a Los Angeles-based insurer, understands the unique risks California homeowners face. Mercury has some of the most affordable homeowners insurance in San Jose. The average annual premium is $426 for a policy that covers $250K of dwelling coverage.
Although the company provides standard coverage with very limited endorsements, there are many discounts. These include savings on living in a gated community or homes made with fire-resistant materials. Bundling your auto and homeowner’s insurance policies and insuring a brand new home.
Travelers
Another home insurance company that stands out is Travelers, which offers lower rates than the average. The average San Jose home insurance policy for Travelers is $519/year and includes $250K of dwelling insurance. This is more than $300 less than the average rate in San Jose.
We love that Travelers offers a range of endorsements to provide additional protection such as contents replacement cost coverage, green house coverage, personal articles floater and water backup/sump pumps coverage. A few discounts are also available to help you obtain a lower rate, such as one for LEED-certified homes.
USAA
USAA is the most trusted insurance company for military personnel. To purchase USAA home insurance, you must be a retired or active duty service member. You will be eligible if you meet the eligibility requirements. USAA offers exceptional customer service, affordable rates, and comprehensive coverage.
USAA is the only insurance company that offers earthquake coverage free of charge with all policies. This is a great option for San Jose homeowners. Active duty and deployed military personnel are also covered by USAA. USAA offers many discounts including savings on policy bundles, being claims-free, and having a security system installed in your home.
Progressive
Progressive is a solid home insurer. The company has below-average rates in San Jose with a $534 average annual premium for $250K of dwelling insurance. There are also a number of discounts. The online HomeQuote Explorer tool allows you to compare Progressive’s rates with prices from competitors.
San Jose homeowners can get discounts from Progressive. This includes getting a quote in advance and bundling policies. Insuring a home or building a new home is also possible. For an additional cost, you can add personal injury and water backup coverage to your coverage.
State Farm
State Farm is the nation’s largest home insurance provider, accounting for just 17% in the national home insurance market. J.D. highly rates the company. J.D. Power is highly rated for customer satisfaction and offers affordable policies to San Jose homeowners with an average annual premium $536 for a policy with $250K of dwelling insurance.
State Farm’s home insurance coverage is very limited. The company doesn’t offer many customization options. There are still some savings that you may be able to get, such as discounts for home security systems, impact-resistant roofs and bundling of your auto and home insurance policies, which could save you up to $965 annually.
San Jose Home Insurance Options
San Jose homeowners insurance is not required by law unless you are required to have it by your mortgage lender. Home insurance, even without a mortgage, is a smart investment. These are some home insurance policies that San Jose residents might consider:
- Insurance for earthquake damage: Standard home policies almost never cover earthquake damage. San Jose lies on the San Andreas faultline, so homeowners should seriously consider earthquake insurance to protect their homes and personal belongings in the event that there is a major earthquake. At least enough earthquake insurance should be in place to cover the costs of rebuilding your house.
- Flood insurance Much like earthquakes, many home insurance policies do not cover flood damage. Floods can occur in San Jose, so it is worth looking into flood insurance policies. Flood insurance should be sufficient to protect your home and personal belongings.
- Dwelling extended cost coverage:Dwelling extended cost coverage is an optional policy offered by some home insurers. This coverage will cover the cost of rebuilding your home if your dwelling insurance policy limits are exceeded.
San Jose home insurance discounts
Many San Jose home insurance companies offer discounts that could help homeowners obtain a lower rate. You can save more money if you are able to qualify for more discounts. These are some of the most popular San Jose home insurance discounts:
- Get a full discount if you pay your annual premium in full and upfront Homeowners can often get a discount on their policy.
- Discount on security system: A security system can help you save money because there is less chance of theft.
- No insurance claims: Homeowners with no insurance claims in the past several years often have savings.
- Discount on policy bundling: Many insurance providers offer discounts to policyholders who have their vehicle and home insured with the same company.
Questions frequently asked
Which is the best company for home insurance?
Everybody is unique in determining the best home insurer. It all depends on where you live, what coverage you need, the type of coverage that you require, and what discounts you are eligible for. It is important for homeowners to shop around and obtain multiple quotes in order to determine which provider offers the best rate for their coverage.
What is the cost of home insurance in San Jose?
For a policy that covers $250K of dwelling coverage, the average cost for home insurance in San Jose comes to $832 per annum. Home insurance rates can vary based on factors such as your credit history, age, and claims history.