The Cheapest and Best Homeowners Insurance in San Diego
The Cheapest Home Insurance Companies in San Diego
One of the most important factors to consider when choosing a policy is the cost, as there are plenty of companies that offer the same core coverages at varying prices.
On average, the companies who offer cheap homeowners insurance in San Diego with a baseline dwelling coverage of $500,000 include:
- Travelers: $1,243 per year
- ASI: $1,408 per year
On the other hand, companies offering the cheapest homeowners insurance on average for expensive homes with $2 million in dwelling coverage include:
- ASI: $3,978 per year
- Travelers: $5,118 per year
See how prices can change based on dwelling coverage limits in the table below.
The Cheapest Home Insurance in San Diego, Ranked
Scroll for more
The personal property limits of policies with an initial baseline dwelling coverage and a $2 million dwelling coverage are $200,000 and $800,000, respectively. Data on all the policies gathered have $100,000 in liability coverage.
Residents who live elsewhere in the state can also look at MoneyGeek’s analysis on the price of home insurance in California.
The Average Cost of Homeowners Insurance in San Diego for 2021
When it comes to homeowners insurance, San Diego rates are slightly lower than the rest of the state and country. At $1,767 per year on average, they are less than the state average of $2,002 and less than the national average of $2,103.
Calculate the Cost of Home Insurance in San Diego
Location is one of the many factors that get taken into consideration when determining home insurance costs. It also gets affected by the dwelling coverage and personal property coverage limits, a policyholder’s credit score and other factors.
To compare home insurance quotes, San Diego residents can compare quotes using MoneyGeek’s home insurance calculator.
Home Insurance Calculator
These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in San Diego
Cost is a significant factor that homeowners often consider, but it shouldn’t be the only one. Customer service and the insurance company's financial stability are just as important since claims are often made during stressful times. Consequently, policyholders will want to deal with issues as efficiently as possible.
MoneyGeek’s analysis found that the companies offering the best homeowners insurance in San Diego include:
- Best Overall: USAA (only available for current and former military members and their family members)
- Runner-up: Travelers
MoneyGeek evaluated these home insurance companies based on affordability, user satisfaction and financial stability.
USAA is considered the best insurer not only for their affordability but also for their unique coverages. The company offers homeowners discounts if they have protective security systems and remain claims-free. Additionally, for policyholders who rent out a room or their home, USAA offers home-sharing coverage to cover any costs associated with being a landlord.
USAA is MoneyGeek’s top pick as it ranks well across categories and scores perfectly in affordability. Note that they only offer their services to current and former military members.Read MoneyGeek's USAA home Insurance Review
Travelers also offers unique coverages. For example, the company lets policyholders add identity fraud expense coverage up to $25,000 in costs to restore their identity. Travelers also offers additional replacement costs, which means that if the cost to replace a home is higher than the dwelling coverage, the resident will still be covered.
Travelers is the next best and most accessible option, offering extra protection to cover damages to a home with green materials.Read MoneyGeek's Travelers home Insurance Review
Cheapest Home Insurance Companies in San Diego for Newly Constructed Homes
Residents with newly constructed homes in San Diego may benefit from cheaper insurance. This is because homes with more modern materials have increased resistance to damage and are easier for insurers to replace.
Newly constructed homes cost an annual average of $1,367 to insure, compared to an average of $1,767 for a home built in 2000.
On average, the companies offering cheap homeowners insurance in San Diego for newly constructed homes with $500,000 in dwelling coverage are:
- Travelers: $810 per year
- ASI: $929 per year
The Cheapest Home Insurance in San Diego for New Homes, Ranked
Scroll for more
Cheapest Home Insurance Companies in San Diego if You Have a Lot of Personal Property
Home insurance also has personal property coverage, which covers damage to personal property kept at home. Note that adding higher limits to this will increase your premiums.
In San Diego, a standard policy with $250,000 in personal property limits costs an average of $2,029. On the other hand, a policy with just $100,000 in personal property limits will cost an average of $1,767.
On average, the cheapest insurance companies in San Diego for residents who desire a personal property limit of $250,000 include:
- Travelers: $1,383 annually
- Allstate: $1,531 annually
Cheap Companies in San Diego for Extra Personal Property Coverage
Scroll for more
Cheapest Home Insurance Companies in San Diego for High Deductibles
A policyholder’s deductible can significantly impact the cost of home insurance for San Diego residents. Higher deductibles mean that policyholders will pay more money out-of-pocket when claims are made, but premiums will cost less annually.
It costs an average of $1,541 for policies with a $2,000 deductible compared to an average of $1,767 with a deductible of $1,000.
Companies offering the cheapest insurance for policies with a $2,000 deductible on average are:
- Travelers: $994 per year
- Universal North America: $1,165 per year
The Cheapest Companies in San Diego for High Deductibles, Ranked
Scroll for more
Cheapest Home Insurance Companies in San Diego if You Have Poor Credit
In San Diego, residents get to benefit from California state regulations that dictate that insurers cannot charge higher rates for those with low credit. This means that credit scores are not a factor when calculating rates.
Getting Online Homeowners Insurance Quotes in San Diego
Before getting home insurance quotes, San Diego homeowners need to prepare the following information.
- The replacement cost of your home: If a home ever gets damaged, insurers need to know how much it will cost to rebuild. This will determine the dwelling coverage limits.
- The value of your personal property: Insurers also need to know about the value of personal items inside the home to determine personal property coverage limits.
- Personal information: Insurers will ask about the home's address, who lives in it and their details, along with insurance history and other personal details they deem necessary.
- Information about your house: Aside from personal details, insurers will also ask about the house itself, such as when it was built, the dimensions, any safety devices and more.
Homeowners Insurance in San Diego Analysis: Methodology
MoneyGeek analyzed home insurance premiums from 13 companies in San Diego. Data was provided in partnership with Quadrant, and quotes were collected for a home with varying coverage levels to calculate affordability scores.
MoneyGeek used a base profile for a homeowner with a 2,500 square-foot home that was built in 2000 and is looking for a dwelling coverage of $500,000, personal property coverage of $200,000 and liability coverage of $100,000. All policies included a $1,000 deductible.
Quotes were also collected for homeowners with newly constructed homes, increased dwelling or personal property coverage, higher deductibles and poor credit scores to consider a variety of situations. Finally, customer satisfaction ratings were drawn from J.D. Power surveys.
About Mark Fitzpatrick