The Cheapest and Best Homeowners Insurance in Bakersfield
The Cheapest Home Insurance Companies in Bakersfield
Insurance companies in Bakersfield usually offer the same core coverages in their homeowner’s insurance policies, making cost a significant factor while choosing a policy.
For a policy with $500,000 in dwelling coverage, the cheapest home insurance companies in Bakersfield are:
- Allstate: $1,237 per year
- ASI: $1,386 per year
However, the amount of coverage you opt to buy can change the cheapest options. For example, in policies for expensive homes with dwelling coverage limits of $2,000,000, the most affordable companies in Bakersfield are:
- ASI: $3,910 per year
- Allstate: $5,054 per year
Your dwelling coverage limits significantly influence your home insurance premiums and certain companies can be cheaper than others depending on your needs. You can use the table below to see how prices change with changing dwelling coverage levels.
The Cheapest Home Insurance in Bakersfield, Ranked
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Our sample home insurance policies have an initial baseline dwelling coverage of $500,000 and personal property limits of $200,000. For policies with a dwelling coverage of $2,000,000, personal property limits increase to $800,000. Regardless of dwelling coverage limits, liability coverage remains set at $100,000
If you live somewhere else in the state, you can compare statewide home insurance rates in California.
The Average Cost of Homeowners Insurance in Bakersfield for 2021
The average cost of homeowners insurance in Bakersfield is $1,867 per year or approximately $156 per month. This is lower than the statewide average cost of homeowners insurance in California, which costs $2,002.
Across the country, the national average cost of home insurance is 2,103 per year.
Calculate the Cost of Home Insurance in Bakersfield
Location is only one of the several factors impacting the cost of home insurance in Bakersfield. How much dwelling and personal property coverage you purchase and your credit score can also affect your rates, among other factors. You can use MoneyGeek’s home insurance calculator to compare home insurance quotes in California.
Home Insurance Calculator
These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in Bakersfield
Cost is a significant consideration while choosing a home insurance policy in Bakersfield; however, it is also important to prioritize the quality of customer service. When a crisis strikes, you need to know that your insurance provider will process your claim fast and objectively. Choosing a financially stable company also ensures that a legitimate claim will get paid reliably.
Based on MoneyGeek’s study, the companies with the best homeowners insurance in Bakersfield are:
- Best Overall: USAA (only available for current and former military and eligible family members)
- Runner-up: Allstate
MoneyGeek uses a unique scoring system that rates insurance providers on three parameters: affordability, financial stability and customer satisfaction.
USAA has several unique coverages that you can benefit from. For example, homeowners who remain claims-free or install security systems in their homes can become eligible for attractive discounts. In California, you can also add earthquake damage coverage to your USAA policy, usually not included in homeowners insurance.
Our top pick for Bakersfield is USAA, with perfect scores in customer satisfaction and financial stability. USAA policies are only available to current and former members of the military and eligible family members.Read MoneyGeek's USAA home Insurance Review
Allstate has several add-ons that can provide additional value to your policy. For example, customers can add on Claim Rateguard, a feature that prevents your home insurance rates from rising after you file a claim. Every year you stay claim-free with Allstate, your deductible reduces by $100 up to a maximum of $500, making it less costly to file a claim eventually.
Allstate is a solid second choice in Bakersfield, with high scores across the board and a perfect affordability score. Customers opting for an Allstate policy can get assistance from an Allstate agent if they want to add a flood insurance policy through the National Flood Insurance Program (NFIP).Read MoneyGeek's Allstate home Insurance Review
Cheapest Home Insurance Companies in Bakersfield for Newly Constructed Homes
Generally, newly built homes in Bakersfield are cheaper to insure. New homes use modern materials and construction techniques, making them more resistant to damage. As a result, the probability of a claim also reduces significantly. Insurers can also replace newer materials easily. A newly constructed home in Bakersfield costs an average of $1,423 to insure, while a house built in 2000 costs an average of $1,867 per year.
If you are a homeowner with $250,000 dwelling coverage, these two companies can offer you the cheapest home insurance in Bakersfield:
- ASI: $861 per year
- Travelers: $1,055 per year
The Cheapest Home Insurance in Bakersfield for New Homes, Ranked
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Cheapest Home Insurance Companies in Bakersfield if You Have a Lot of Personal Property
Typically, your home insurance would cover not just damages to the house itself but also the personal belongings you have inside your house. Therefore, your premiums increase as you opt for more personal property coverage. For example, a standard home insurance policy with a personal property coverage limit of $200,000 costs an average of $1,867 a year. In contrast, a policy with an increased personal property coverage limit of $250,000 costs $2,110 on average.
For homes in Bakersfield that keep $500,000 in dwelling coverage but enhance personal property coverage to $250,000, the two most affordable companies are:
- Allstate: $1,287 per year
- ASI: $1,505 per year
Cheap Companies in Bakersfield for Extra Personal Property Coverage
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Cheapest Home Insurance Companies in Bakersfield for High Deductibles
Every time your insurance provider pays a claim, you have to pay a certain sum out of pocket. This is your deductible. Deductibles can influence home insurance costs in Bakersfield.
For instance, while a policy with the standard $1,000 deductible costs $1,867 on average, one with a higher deductible of $2,000 costs $1,608. This is because your premiums become lower with higher deductibles.
The two providers with the cheapest home insurance in Bakersfield for homeowners with $2,000 deductibles on average are:
- Allstate: $1,163 per year
- USAA: $1,245 per year (only available for current and former military and eligible family members)
The Cheapest Companies in Bakersfield for High Deductibles, Ranked
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Cheapest Home Insurance Companies in Bakersfield if You Have Poor Credit
Usually, insurance providers take into account the credit scores of customers while calculating insurance premiums. However, due to state regulations in California, insurers are not allowed to charge higher rates for customers with lower credit scores. Therefore, your credit score will not have any impact on your homeowner’s insurance costs in Bakersfield.
Getting Online Homeowners Insurance Quotes in Bakersfield
It is a good idea to keep some information handy while applying for a home insurance quote online:
- Home replacement cost - The amount it takes to build your home again after getting damaged using similar quality materials. This decides your dwelling coverage limits. To get an accurate estimate, it is good to hire a professional, like a building contractor or an independent appraiser.
- Personal property value - The total value of your personal property inside the house. This determines your property coverage limits.
- House details - You would need to share details about your home, including its age, size and whether you have any safety and security devices installed.
- Personal information - Online quote websites will need you to share personal data like your address, how many people are in your household and your past insurance history, among other things.
Homeowners Insurance in Bakersfield Analysis: Methodology
For this study, the base profile of the average homeowner is someone with a 2,500 square-foot home built in 2000 with dwelling coverage of $500,000, personal property coverage of $200,000 and liability coverage of $100,000. In addition, all policies have a deductible of $1,000.
MoneyGeek, using data provided in partnership with Quadrant, analyzed homeowners insurance premiums from 13 companies in Bakersfield. Affordability was calculated using quotes for a home with different levels of coverage, while customer experience ratings were sourced from J.D. Power. In addition, we gathered quotes from homeowners with newly built homes, increased dwelling or personal property coverage and higher deductibles to provide accurate information for various situations.
About Mark Fitzpatrick