The Cheapest and Best Homeowners Insurance in Fremont
The Cheapest Home Insurance Companies in Fremont
Cost is one of the primary factors to consider while shopping for homeowners insurance in Fremont. The majority of the insurers within the city offer the same coverage at different costs.
The cheapest homeowners insurance in Fremont for a dwelling coverage limit of $500,000 is from:
- Travelers: $1,099 per year
- Allstate: $1,126 per year
If you need the best policy for an expensive home, you can consider purchasing one with a dwelling coverage of $2 million. The cheapest providers for this limit are:
- ASI: $3,670 per year (for military personnel and their families only)
- Travelers: $4,607 per year
The table below allows you to compare prices across different dwelling coverage limits.
The Cheapest Home Insurance in Fremont, Ranked
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For this study, MoneyGeek used a sample homeowners insurance coverage with a dwelling coverage base amount of $250,000 and personal property coverage of $200,000. Policies with a dwelling coverage limit of $2 million feature a personal property coverage limit of $800,000. All the policies, however, have a liability coverage limit of $100,000.
If you live elsewhere in California, you can compare cheap homeowners insurance quotes across the state.
The Average Cost of Homeowners Insurance in Fremont for 2021
How much is homeowners insurance in Fremont? On average, it costs $1,854 per year, which is $148 less than the state average of $2,002. The city’s average is also lower than the national average by $249.
Calculate the Cost of Home Insurance in Fremont
Where you live can have a huge impact on the cost of homeowners insurance in Fremont. However, there are several other cost determinants, including your dwelling coverage limit, personal property coverage amount and credit score.
To compare quotes between several homeowners insurance providers within the city, use the MoneyGeek home insurance calculator.
Home Insurance Calculator
These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in Fremont
The cost of coverage should not be the only factor you consider while purchasing homeowners insurance in Fremont. You need to select an insurer that offers exceptional financial stability and customer experience and one that is likely to settle your claims quickly and fairly.
MoneyGeek’s scores for this study depend on various factors, including customer satisfaction, affordability and financial stability. From the study, the highest-ranking insurers in the city are:
- Best Overall: USAA (for former and current military members only)
- Runner-up: Travelers
Apart from offering comprehensive coverage across cities in California, USAA also provides unique coverage options. For example, they offer home-sharing coverage for individuals who rent out part or all of their homes and coverage for lost uniforms at no extra cost for policyholders in active military service. With a USAA policy, you will also be charged a lower monthly premium if you install a security system in your home.
USAA scores the highest in customer satisfaction and financial stability. However, it is limited to former and current military members and their families.Read MoneyGeek's USAA home Insurance Review
Travelers gives homeowners additional replacement cost coverage, which means you will still receive coverage even if the cost of replacing your damaged home is higher than your dwelling coverage limit. The company also has an identity fraud expense coverage that covers the cost of restoring your identity up to $25,000.
Travelers scored highly for affordability and financial stability. With a policy from this company, you can get extra protection for your home if it is constructed using green materials.Read MoneyGeek's Travelers home Insurance Review
Cheapest Home Insurance Companies in Fremont for Newly Constructed Homes
If you own a newly constructed home in Fremont, you will likely pay less for your homeowners insurance. That’s because newer homes utilize the latest materials that are resistant to damage and easy to replace, meaning that there is a lower chance of you filing a claim.
The average cost of homeowners insurance for a newly constructed home in Fremont is $1,322 per year, compared to the $1,854 average for a home built in 2000.
The top two providers of cheap homeowners insurance in Fremont for newly constructed homes with a $500,000 dwelling coverage limit are:
- Travelers: $784 per year
- Allstate: $803 per year
The Cheapest Home Insurance in Fremont for New Homes, Ranked
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Cheapest Home Insurance Companies in Fremont if You Have a Lot of Personal Property
Once you purchase your homeowners insurance in Fremont, you will also get coverage for any personal property within your home. However, the cost of your premium will vary based on the amount of property you have.
For instance, you will pay an average of $2,008 per year for a policy with $250,000 in personal property coverage, compared to the $1,854 average for $100,000 in personal property coverage.
According to MoneyGeek’s research, the cheapest homeowners insurance carriers in Fremont for high personal property limits are:
- Travelers: $1,191 per year
- Allstate: $1,220 per year
Cheap Companies in Fremont for Extra Personal Property Coverage
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Cheapest Home Insurance Companies in Fremont for High Deductibles
While purchasing homeowners insurance, you will need to pay a deductible out of pocket when the insurer agrees to settle your claim. Policies with a high deductible often feature lower monthly premiums and vice versa.
For instance, a policy with a deductible of $2,000 costs an average of $1,639 in Fremont, while one with a deductible of $1,000 costs $1,854 annually on average.
The insurers that offer cheap homeowners insurance in Fremont for high deductibles are:
- Travelers: $972 per year
- Allstate: $996 per year
The Cheapest Companies in Fremont for High Deductibles, Ranked
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Cheapest Home Insurance Companies in Fremont if You Have Poor Credit
While credit score is a factor that determines homeowners insurance costs in most states, this is not the case for cities in California. State regulations do not allow insurers to charge higher rates for individuals with poor credit scores.
Getting Online Homeowners Insurance Quotes in Fremont
While getting a homeowners insurance quote in Fremont, insurance companies will ask you to provide various types of information, including:
- Home replacement cost - This is the amount of money you will need to rebuild your home if it is destroyed by a covered peril. It is different from the market value of your home and is what insurers will use to calculate your dwelling coverage limits. You can work with a building contractor or construction professional to get an estimate.
- Personal property value - This is the value of all the personal items within your home. The insurer will need this amount to calculate your personal property coverage limits.
- Personal information - Some of this information includes previous insurance details, the number of people living in your home and your home address.
- Information about your house - You may also be required to provide details about the size of your home, the year of construction and whether you have safety systems installed.
Homeowners Insurance in Fremont Analysis: Methodology
In partnership with Quadrant, MoneyGeek collected the figures used in this research across 13 insurance companies within Fremont.
The base profile is for a 2,500-square-foot home constructed in 2000, with a dwelling coverage limit of $500,000, a personal property coverage limit of $200,000, a liability limit of $100,000 and a deductible of $1,000.
MoneyGeek calculated affordability scores based on different coverage levels and obtained customer satisfaction scores from J.D. Power.
About Mark Fitzpatrick