Greatest Low-cost Owners Insurance coverage in San Francisco

Owning a home in San Francisco is not an easy task. Only 38% of the 874,961 people in the Golden City live in their own homes, well below the national average of 64%. By 2030, the population of San Francisco is projected to reach one million people. It is estimated that property prices will continue to rise, making it more difficult to buy or maintain a home. And because of the low number of homeowners in the city, the cost of home insurance in San Francisco is much cheaper than the national average of $ 1,312. With a home coverage limit of $ 250,000, the average annual cost of home insurance is only $ 982. As a homeowner, it is a smart choice to have insurance to not only cover your most expensive investment against unforeseen disasters, but also to protect the savings of your life from depletion in the event of a disaster.

Best Cheap Home Insurance Company San Francisco

As the fourth largest city in California, San Francisco has an abundance of home insurance companies, but not all of them are cheap. Whether you’re a new homeowner with no prior insurance or just want to switch providers, the following are five of the cheapest insurance companies in San Francisco based on prices, coverage and discounts, customer service, and third-party ratings.

* USAA is not eligible for an official ranking at JD Power due to eligibility restrictions

Mercury

The lowest home contents insurance rates in San Francisco come from Mercury, the national insurer known for its affordability and high customer satisfaction. Prices start at just $ 521 per year. In addition to basic housing, liability, and personal property coverage, Mercury also offers a wide variety of add-ons, including advanced replacement cost and identity theft protection. Some of the discounts offered are for bundling insurance policies, a newly built house, security features like intrusion and smoke alarms, and living in a residential complex. Mercury has an A financial strength rating from AM Best and has local agents across the country. However, one of the drawbacks is the lack of ability to make claims online. To submit a claim, you must call the 24-hour customer service line.

USAA

If you are an active or retired member of the armed forces, USAA offers the best home insurance for military families. Highly rated over the years for customer service, affordability, and financial strength, USAA’s standard home insurance costs an average of $ 572 per year in San Francisco, and there are attractive perks like shared flat, earthquake, and valuable property coverage. Some of the discounts include military service, bundling of insurance policies, a safe home, and the fully paid annual premiums.

District farm

With 19,000 local agents across the country and an 18% market share, State Farm is not only the largest insurer in the US, but also one of the cheapest in San Francisco. Prices start at just $ 572 per year for $ 250,000 housing coverage. In addition to basic supplies, personal property, and liability insurance, State Farm offers you jewelry, art and collectibles, electronic equipment such as cameras and computers, appliances, musical instruments, and more. Homeowners get discounts for an impact-resistant roof, safety features and the bundling of several guidelines. State Farm is a technology company, so you can expect everything to be done online or via the mobile app without having to speak to people. Managing your policy and filing a claim is convenient. Should you ever need further assistance, your local agent is always there to help.

traveler

At just $ 661 per year for standard coverage in San Francisco, Travel Insurance offers liability, home, and personal property insurance, with the option to choose between multiple drivers. Additional replacement costs, different structures, downtime, jewelry and valuable item coverage, identity fraud protection, and eco-friendly home are some of your add-ons to choose from. Prices can come down with discounts on a new home purchased within a year. These are damage-free, safe house functions, LEED-certified green houses and bundling of guidelines.

Progressive

Progressive is a nationally recognized, financially stable company and a safe choice for affordable home insurance in San Francisco. Progressive also offers extended replacement costs as part of standard coverage. The online tools and resources make it easy to manage policies and submit claims. However, Progressive doesn’t take out home insurance of its own, so if you ever make a claim you’ll be working with another company. The mobile app is only available for auto insurance. Compared to its competitors, Progressive has few add-ons.

Other San Francisco home insurance coverage to consider

Home insurance is not mandatory anywhere in the United States. However, since your home is likely your most expensive possession, as a homeowner you can rest assured that you can insure it against theft, vandalism, and weather damage, and protect your savings from costly repairs. San Francisco is prone to wildfires, storms, and earthquakes. Aside from the general coverage that is included in a standard policy, there are a few additional coverage you should consider:

• Loss of use coverage: When you add downtime to your home insurance you can rest assured that you will have financial security if your property becomes damaged and uninhabitable.
• Earthquake Insurance: Although not part of standard household insurance, earthquake insurance can be taken out separately from any national insurer. If you can’t get coverage from a private insurance company, you can consider the California Earthquake Authority’s insurance options, including earthquake damage.
• Home sharing coverage: Since San Francisco is a major tourist destination, it can be a practical choice to insure your home against possible damage when renting out your property to guests. Shared apartment insurance is available from several national insurance companies and is becoming a popular insurance option for those who take guests into their home.

Home Insurance Discounts in San Francisco

Not all insurance policies are priced similarly. San Francisco is an expensive city and it is always economical to get discounts on your annual premiums. Although they can vary from insurer to insurer, some of the most common home insurance discounts offered by most companies include:

• Safe home: If you’ve installed security features like fire and burglar alarms, as well as sprinkler systems in your home, you might get a discount.
• Green home: If your home is built from sustainable, environmentally friendly materials, you may receive a discount.
• Bundling of guidelines: You may be able to get a discount if you get your home insurance from the same provider as other types of insurance (e.g. car).
• New building: If you have a newly built home, you might get a discount.
• Claims free: If you spend a certain number of years without filing a claim, you can qualify for a discount as it puts you at less risk.

frequently asked Questions

What is the best home insurance?

Since insurance is very personal and demand-oriented, no provider can qualify as the best in this overcrowded market. However, some of the most reputable home insurance companies have always offered the most competitive rates, excellent customer service, and coverage and discount options. Our list of the best home insurance companies could get you started.

What is the cost of home insurance in San Francisco?

With home coverage of $ 250,000, San Francisco home insurance costs an average of $ 982 per year.

How Much Home Insurance Do I Need in San Francisco?

The coverage you need depends on your geographic location, climatic conditions, the cost and size of your home, and your budget. Aside from the standard insurance, you can add additional options to your policy for greater security.

methodology

Bankrate uses Quadrant Information Services to analyze 2021 rates for all zip codes and airlines in all 50 states and Washington, DC. The tariffs given are based on 40-year-old male and female homeowners with a clean history of damage, good creditworthiness and the following coverage limits:

• Coverage A Apartment: $ 250,000
• Coverage B, Other Structures: USD 25,000
• Coverage C, Personal Property: $ 125,000
• Coverage D, Loss of Use: $ 50,000
• Cover E Liability: $ 300,000
• Coverage F, Medical Payments: $ 1,000

The homeowners also have a $ 1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should only be used for comparison purposes. Your quotes can be different.