MoneyGeek ranked the best cheap homeowners insurance companies in Modesto to ensure that you secure coverage that is both affordable and of high quality. The average cost of homeowners insurance in the city is $1,752 per year or about $146 per month. How much you pay for insurance may vary depending on various factors, including the insurance provider and coverage amounts you choose. The cheapest insurance company in the city is ASI, with an average cost of $1,129 per year. The company with the highest rates is Chubb, at $2,794 on average. That means you can save up to $1,665 annually just by shopping around with different companies.
The Best Cheap Homeowners Insurance in Modesto, CA for 2022: Quotes and Reviews
The Cheapest and Best Homeowners Insurance in Modesto
The Cheapest Home Insurance Companies in Modesto
The majority of insurers in Modesto offer policyholders the same core homeowners insurance coverages. These companies, however, charge different costs for their coverage, and you may need to compare quotes to get the cheapest homeowners insurance.
Based on MoneyGeek’s research, the most affordable homeowners insurance companies in Modesto with a $500,000 dwelling coverage limit are:
- ASI: 1,129 per year
- Allstate: $1,169 per year
The cost of homeowners insurance also differs across different dwelling coverage amounts and insurance companies. The cheapest providers of homeowners insurance for a dwelling coverage limit of $2,000,000 are:
- ASI: $3,144 per year
- AAA: $3,854 per year
You can use the table below to compare prices for different dwelling coverage limits.
The Cheapest Home Insurance in Modesto, Ranked
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The sample policies used in this study with an initial dwelling coverage limit of $500,000 have personal property coverage of $200,000. Policies with a dwelling coverage limit of $2 million have a personal property coverage limit of $800,000. For all the homeowners policies considered in Modesto, the liability coverage amount is $100,000.
If you do not live in Modesto, you can still use MoneyGeek’s research to check out cheap statewide homeowners insurance in California.
The Average Cost of Homeowners Insurance in Modesto for 2021
How much is homeowners insurance in Modesto? The average cost of homeowners insurance in Modesto is $1,752 per year. This cost is lower than the state average by $250 and lower than the national average by $351.
Calculate the Cost of Home Insurance in Modesto
While purchasing homeowners insurance in Modesto, where you live can partly influence the amount you pay, but it is not the only consideration to make. Other factors that may determine your monthly premiums include the amount of dwelling coverage and personal property coverage you choose.
If you are looking for the best coverage, MoneyGeek’s homeowners insurance calculator can help you compare prices across various companies within Modesto.
Home Insurance Calculator
These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in Modesto
Most residents of Modesto consider cost as one of the main factors when purchasing homeowners insurance. However, other factors such as financial stability and user satisfaction also play a vital role in determining the best coverage for your needs.
Based on the MoneyGeek research, the best homeowners insurance in Modesto comes from:
- Best Overall: USAA (limited to military members and their families)
- Runner-up: Allstate
USAA provides various coverage options aside from standard coverages. Policyholders can get coverage for earthquake damage at an additional cost. They also get a discount if they have security systems installed in their home. A home-sharing coverage is also available for those who rent out part of their home. There is also deductible-free coverage for lost or damaged uniforms given to policyholders still in active service.
USAA has the best overall score in Modesto, with the highest ratings across the financial stability and customer satisfaction categories. However, the company only serves military members and their families.
Unlike some other insurers, Allstate allows you to buy flood damage coverage through the National Flood Insurance Program. If you do not file a claim, you get a discount, even when switching from a different insurance company. Policyholders can also include Claim Rateguard in their coverage, which helps keep your rates down even when you decide to file a claim.
Allstate is the second-best insurer in Modesto, with an excellent affordability score. One advantage of Allstate policies is that the cost reduces by $100 each year for individuals who do not file a claim, up to a maximum of $500.Read MoneyGeek's Allstate home Insurance Review
Cheapest Home Insurance Companies in Modesto for Newly Constructed Homes
You will pay less for homeowners insurance in Modesto if you purchase a newly constructed home. Most newer homes use modern materials that are resistant to damage and cheaper to replace, so you are less likely to file a claim.
For a newly constructed home, the average cost of homeowners insurance in Modesto is $1,249 per year. The cost for an older home constructed in 2000 is $1,752 per year.
The cheapest providers of homeowners insurance in Modesto for newly constructed homes are:
- ASI: $805 per year
- Allstate: $833 per year
The Cheapest Home Insurance in Modesto for New Homes, Ranked
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Cheapest Home Insurance Companies in Modesto if You Have a Lot of Personal Property
If you purchase homeowners insurance in Modesto, your policy also covers damage to your personal property. How much you pay for coverage will depend on the amount of personal property you have.
If you have lots of personal property, you will pay about $1,898 per year for your homeowners insurance. Otherwise, you will pay an average of only $1,752.
According to MoneyGeek’s study, the cheapest homeowners insurance in Modesto with high personal property limits comes from:
- ASI: $1,223 per year
- Allstate: $1,266 per year
Cheap Companies in Modesto for Extra Personal Property Coverage
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Cheapest Home Insurance Companies in Modesto for High Deductibles
The amount of deductible you pay determines how much your monthly premiums will cost. A deductible is an amount you pay out of pocket when your insurer agrees to pay your claims.
Policies with high deductibles feature lower premium costs and vice versa. For instance, purchasing a policy with a deductible of $2,000 means that you will pay an average of $1,549 per year, while a policy with a deductible of $1,000 will cost you around $1,752.
Insurers that charge the lowest rates for high deductibles in Modesto are:
- ASI: $998 per year
- Allstate: $1,033 per year
The Cheapest Companies in Modesto for High Deductibles, Ranked
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Cheapest Home Insurance Companies in Modesto if You Have Poor Credit
Insurers often use credit scores as one of the factors to determine the cost of homeowners insurance. However, this is not the case for Modesto. State regulations in California bar insurance companies from calculating their premiums based on an individual’s credit score.
Getting Online Homeowners Insurance Quotes in Modesto
While sourcing for home insurance quotes in Modesto, insurers will ask you to provide certain information about your home. Some of this information includes:
- Cost of home replacement - This is the cost of rebuilding your destroyed home. Insurers use it to determine your ideal dwelling coverage limits. Note that this cost does not refer to the actual market value of your home. You can ask a construction professional or building contractor to calculate it for you.
- Personal property value - This refers to the value of all your belongings within your home. The value helps insurers to calculate your personal property limits.
- Personal information - While requesting a quote from insurers, you will need to provide personal details, including the number of people you live with and your insurance history.
- Property information - You may also need to provide details about the size of the home and when it was built, as well as whether it has security systems installed.
Homeowners Insurance in Modesto Analysis: Methodology
The data utilized by MoneyGeek in this research was sourced across 13 different insurance companies. The costs are for a sample 2,500-square-foot home built in 2000, for a dwelling coverage limit of $500,000, personal property limit of $200,000, liability coverage limit of $100,000 and a deductible of $1,000.
The scores are for different coverage levels, sourced in conjunction with Quadrant, while the customer satisfaction scores are from J.D. Power.
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