The Cheapest and Best Homeowners Insurance in Oakland
The Cheapest Home Insurance Companies in Oakland
In Oakland, insurers offer more or less the same core coverages for home insurance, so cost should always be a key factor when choosing the best policy for your home.
The cheapest insurance companies in Oakland for home insurance with $250,000 in dwelling coverage are:
- Travelers: $1,344 per year
- Allstate: $1,371 per year
The most affordable insurers in Oakland for expensive homes with $2,000,000 in dwelling coverage are:
- ASI: $4,433 per year
- Travelers: $5,243 per year
You can use the table below to see how home insurance prices change depending on the dwelling coverage amount.
The Cheapest Home Insurance in Oakland, Ranked
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In this analysis, policies with the initial baseline dwelling coverage of $500,000 have personal property limits of $200,000, and all policies with dwelling coverage of $2 million have personal property limits of $800,000. The liability coverage for all policies is $100,000.
For homeowners in other California cities, you can examine statewide pricing details by looking up California home insurance rates.
The Average Cost of Homeowners Insurance in Oakland for 2022
The average cost of home insurance in Oakland of $2,299 per year does not differ significantly from the average statewide rate of $2,002 yearly. Compared to the national average of $2,103 per year, Oakland homeowners pay roughly $196 more yearly.
Calculate the Cost of Home Insurance in Oakland
In addition to location, home insurance costs in Oakland also depend on the dwelling coverage limit, the value of your personal property and other factors.
You can use MoneyGeek’s home insurance calculator to compare quotes for home insurance in California.
Home Insurance Calculator
These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in Oakland
To ensure that an insurer will handle your claims efficiently and fairly, you should look at their customer satisfaction ratings and financial stability metrics before buying a home insurance policy in Oakland.
MoneyGeek’s scoring system found that the best homeowners insurance companies in Oakland are:
- Best Overall: USAA (only available for current and former military members)
- Runner-up: The Hartford
MoneyGeek’s unique ranking system identified the best companies in Oakland for home insurance based on affordability ratings, J.D Power customer satisfaction scores and financial stability data.
One of the key benefits of a USAA policy is the optional earthquake damage coverage which is typically excluded by other insurers. This policy also allows homeowners who rent out a room in their homes to get home-sharing coverage. Since USAA is only available to current and former members of the military, it also offers active military personnel deductible-free coverage in case they lose or damage their uniforms.
Our top pick was USAA based on its high performance in customer satisfaction and affordability. For current and former members of the military, a USAA policy offers the best combination of cost and coverage in Oakland.Read MoneyGeek's USAA home Insurance Review
The Hartford offers optional flood protection coverage for Oakland homeowners who need it. This policy also comes with discounts if a homeowner has installed security upgrades in their home. Retired homeowners are also eligible for discounts on their premiums if they work less than 24 hours weekly.
We picked The Hartford as the runner-up based on its high scores in customer satisfaction and affordability. This policy offers unique coverage at affordable prices, making it one of the best home insurance options in Oakland.Read MoneyGeek's The Hartford home Insurance Review
Cheapest Home Insurance Companies in Oakland for Newly Constructed Homes
If you have a newly constructed home in Oakland, you will likely pay lower home insurance rates than someone with an older home. Insurers take into account the fact that modern materials are generally easier to replace and also more resistant to damage. For a newly constructed home In Oakland, you will pay an average of $1,771 yearly for home insurance, while an older home built in 2000 would cost around $2,299 per year.
The cheapest insurance companies in Oakland for new homes with $250,000 in dwelling coverage are:
- Travelers: $898 per year
- ASI: $1,004 per year
The Cheapest Home Insurance in Oakland for New Homes, Ranked
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Cheapest Home Insurance Companies in Oakland if You Have a Lot of Personal Property
Personal property insurance is one of the core coverages in a homeowners insurance policy in Oakland. This means that the value of the personal property that you want to be covered will affect your premiums. People with more property to cover will typically pay more for home insurance. Oakland homeowners with high personal property limits of $250,000 pay an average of $2,612 yearly, while those with $100,000 personal property limits pay roughly $2,299 annually.
The cheapest insurance companies in Oakland for those with high personal property coverage limits of $250,000 are:
- Allstate: $1,417 per year
- Travelers: $1,478 per year
Cheap Companies in Oakland for Extra Personal Property Coverage
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Cheapest Home Insurance Companies in Oakland for High Deductibles
Homeowners in Oakland who opt for a higher deductible will typically pay lower annual premiums. This is because a higher deductible means you’ll pay more money out of pocket if you make a claim. If you purchase a policy with a $2,000 deductible, you will pay an average of $1,977 per year, while a policy with a $1,000 deductible would cost you $2,299 per year on average.
The cheapest home insurance companies in Oakland for a policy with $2,000 deductibles are:
- Travelers: $1,065 per year
- Allstate: $1,287 per year
The Cheapest Companies in Oakland for High Deductibles, Ranked
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Cheapest Home Insurance Companies in Oakland if You Have Poor Credit
Due to California state regulations, insurance companies in Oakland cannot charge homeowners higher premiums for having a poor credit score. Therefore, in Oakland and other cities in California, your credit score will not affect the cost of homeowners insurance.
Getting Online Homeowners Insurance Quotes in Oakland
If you are looking for home insurance quotes in Oakland, you can get them online from the insurer. You will need to provide information to the insurer, including:
- Personal information: The insurer needs personal details about you and your home, including your address, the number of occupants in your home and more. They may also ask for your previous insurance history and other personal details deemed necessary.
- The replacement cost of your home: The insurance company needs to know how much it would cost to rebuild your home. This cost is referred to as the replacement cost and is used to determine your dwelling coverage limit. In case you do not know the replacement cost of your home, you can get an estimate from a construction specialist.
- The value of your personal property: Home insurance rates vary depending on the value of your personal property. Your insurer will ask for details about the personal property you want to cover to determine the appropriate personal property coverage limit.
- House specifications: The insurer will want to know details about your house, including when it was built, its size and if there are any safety devices installed.
Homeowners Insurance in Oakland Analysis: Methodology
MoneyGeek analyzed home insurance rates from 13 insurance companies in Oakland. Data used in this analysis was provided in partnership with Quadrant.
We used quotes for homes with varying coverage levels to calculate affordability. We drew customer satisfaction ratings used in this study from J.D Power surveys.
We also collected quotes for homeowners with newly constructed homes, increased dwelling or personal property coverage and higher deductibles.
In this analysis, the base profile for a homeowner was for a 2,500-square-foot home built in 2000 with a dwelling coverage limit of $500,000, personal property coverage of $200,000 and liability coverage of $100,000. Policies had a $1,000 deductible.
About Mark Fitzpatrick