Corona, CA Homeowners Insurance

Located just 45 miles away from Los Angeles is a beautiful and charming city named Corona. The city is popularly known for its agricultural products, such as alfalfa, tomatoes, and walnut. Corona was home to the first lemon-processing plant, and the ideal growing conditions gave the city title of “Lemon Capital of the World.” 

Today, Corona is an ethnically diverse community and offers an exceptional life quality to its residents. It offers almost 400 acres of parks along with various recreational facilities, hotels, restaurants, basketball courts, and playgrounds. The Fender Museum of Music and the Arts is largely popular for providing educational programming to the local students.

In 2020, the population of Corona was 166,792, with a significant number of young and well-educated families. The median value of a home in Corona is $444,200 while the city’s homeownership rate is 64.5%, which is 0.6% higher than the national average.  

Best Corona Homeowners Insurance 

Corona homeowners insurance premiums are very high, but it is not impossible to find an affordable rate. A home is the biggest investment of one’s life, and it is important to protect it from unforeseen disasters. Buying homeowners insurance will give you peace of mind.

Although homeowners insurance is not mandatory in the state of California, your loan lenders would want you to have sufficient coverage for your home. Whether you are currently residing in Corona or planning to move to the city, you must take your time to shop around and find the best-suited insurance policy. 

Use the Insurance Online quote comparison tool to do your research and get homeowners insurance quotes from the best insurance providers in Corona.

Corona Homeowners Insurance Average Cost 

The average cost of Corona homeowners insurance is $1,691, whereas the national average is  $1,444.   

Corona Homeowners Insurance Premium Vs State and National Averages

Corona Average Home Insurance Cost (annual)California AverageUnited States Average
$1,691$1,173 $1,444

A standard homeowners insurance protects your home and other personal belongings from the damages caused by different perils, such as burglary, robbery, windstorms, hail, accidental water damage, etc. If your house is located in a region where the frequency of such incidents is relatively high, your homeowners’ insurance premium will be high. 

When you are looking to purchase homeowners insurance, knowing the average cost will give you the upper hand, and you can quickly negotiate the rate with your insurance agent. 

Corona Homeowners Insurance Rates By Company 

Homeowners’ insurance rates vary from company to company. Insurance providers in Corona offer competitive prices with great customer service. In Corona, Allstate provides the cheapest homeowners insurance rate of $517, and Chubb provides an annual premium of $2805.

When you start shopping for a perfect homeowners insurance policy, you consider doing your research and find out the average cost offered by different companies. Here’s a detailed chart with a comparison of homeowners insurance premiums in Corona. 

Homeowners Insurance Rates In Corona By Company

CompanyAverage Annual Premium Rate
Allstate$517
Travelers$724
State Farm$1180
Farmers$1324
Chubb$2805

Corona Homeowners Insurance Cost by Coverage Amount 

While buying homeowners insurance, you have to decide the coverage amount for dwelling, liability, and medical expenses. The level of coverage you choose will affect the premium of your homeowners’ insurance. 

We collected insurance quotes based on the median home value for different coverage levels. Here are the different premiums: 

Corona Homeowners Insurance Rates by Coverage Limits

Coverage AmountHome Insurance Cost ($)
$100,000 dwelling$335
$200,000 dwelling$541
$300,000 dwelling$795
$400,000 dwelling$1,103
$500,000 dwelling$1,302
$750,000 to $1,000,000 dwelling$1,503
Above $1,000,000 dwelling$2,048

Corona Homeowners Insurance Rates Based on ZIP Codes

Not every neighborhood in Corona has the same insurance rates. Premiums often depend on the local variables like susceptibility to wildfires, floods, heavy snow, number of claims submitted from your neighborhood, rate of crime, and cost of the house. The location of your home is critical to calculating the cost of your homeowners’ insurance. 

In Corona, the neighborhood around Rimpau Avenue Space has the lowest homeowners insurance premium. On the other side, Marysa Kathrin Street has the most expensive insurance premiums. 

Corona Homeowners Insurance Rates Based on ZIP Codes

NeighborhoodZIP CodeAverage Annual Homeowners Insurance Rates
Rimpau Ave Spc92881$348 
Green River Rd Spc92878$408
Magnolia Ave Spc92879$996
Palm Canyon Dr92883$1308
Irisbend Ave92880$1,764
Marysa Kathrin St92882$2,520

Corona Homeowners Insurance Deductibles

There are many options when it comes to buying homeowners insurance. One of those big decisions is to decide the deductible amount. The deductible amount is the amount that a homeowner agrees to pay when filing an insurance claim. The chosen deductible decides the premium of your homeowners’ insurance. 

For example, if you choose a deductible of $1000 and file a claim worth $10,000, you will be liable to pay the $1000, and the insurance provider will be paying the remaining $9000.

The basic rule is that if your deductible is high, your premium will be cheaper. We recommend that the deductible amount should be as much as you can afford in case you need to claim. Refer to the chart below and see how the deductible amount affects your premium.  

Corona Homeowners Insurance Cost Based on Deductible

Deductible LevelAverage Annual Homeowners Insurance Rate
$500$1,264
$1,000$1,162
$1,500$1,102
$2,000$1,032
$5,000$973

Corona Homeowners Insurance Coverages Available 

A standard Corona homeowners insurance policy provides coverage for:

  • Dwelling – Provides coverage for any damage to the physical structure of your home. 
  • Attached Structures – Protects the monetary loss for any structure attached to your home, such as a garage or shed. 
  • Personal Property – Provides coverage to the content of your home, including clothes, furniture, appliances or equipment, and jewelry. 
  • Personal Liability and Medical Expenses – provides coverage if someone gets injured on your property or if the injury was caused by a resident of your home. The insurance will also cover the medical expenses of the injured person. 
  • Additional Living Expense Coverage – If the residents are temporarily forced out of their house while it’s getting repaired, the policy will cover the additional living expenses that occurred while living away from your home. 

Best Corona Homeowners Insurance Companies

Finding the right homeowners insurance can be a tricky task. While researching the rates of different companies, people often tend to see the cost only. There are other factors involved that can affect you after you sign the insurance agreement. 

Before you purchase homeowners insurance in Corona, we recommend you look at the company’s coverages, customer service rating, and financial stability. In the following table, we have listed the top-rated homeowners’ insurance companies.  

Best Homeowners Insurance Companies in California Based on Rating

CompanyJ.D. Power RankingA.M. Best RatingBBB rating
Allstate 3 out of 5 starsA+ (Superior)A+
Liberty Mutuals4 out of 5 starsA (Excellent)A+
Travelers 5 out of 5 starA++ (Superior)A+
State Farm 4 out of 5 starsA++ (Superior)A
Farmers  3 out of 5 starsA+ (Superior)A+

Top Homeowners Insurance Agents in Corona

Home Insurance Company Near Corona, CAAddress
State Farm1066 Bolsa Ave, Seal Beach, CA, 90740-6211
State Farm9111 Valley View St Ste 114, Cypress, CA, 90630-5800
State Farm18621 Yorba Linda Blvd, Yorba Linda, CA, 92886-4136
State Farm8050 Florence Ave Ste 10, Downey, CA, 90240-3825
State Farm4166 Norse Way Ste A, Long Beach, CA, 90808-1533

Common Causes for Corona Homeowners Insurance Claims

Corona city has faced forty-three natural disasters, out of which one was considered an emergency. All these natural disasters are the main reason for homeowners insurance loss in Corona. Below is the list of all the natural disasters and their frequency of hitting Corona city. 

  • Fire (22)
  • Floods (18)
  • Storms (8)
  • Winter storms (6)
  • Landslides (5)
  • Mudslides (3)
  • Heavy rains (2)
  • Earthquakes (1)
  • Flash flood (1)
  • Hurricane (1)
  • Tornado (1)

In 2020, 3785 crimes were reported. From this total, 3493 were property crimes, and the remaining were violent crimes. The high rate of property crimes is also a reason for insurance losses in Corona.

Corona Homeowners Insurance Money-Saving Tips

Homeowners insurance can be very expensive; plus, if you have separate car insurance, it can make your monthly budget skyrocket.  

How about combining both of those insurance policies and getting a discount from your insurance provider? 

You can lower your insurance premium by 12% by bundling your home and auto insurance. Refer to the chart and see how bundling can affect your premiums.  

Corona Homeowners Insurance and Car Insurance Bundling Discount

CompanyHomeowners% Savings$ Savings
Allstate$8888.54%$74
Farmers$64922.05%$142
Liberty Mutual$73811.71%$86
Nationwide$62011.9%$72
Progressive$68810.55%$72
State Farm$53317.57%$94

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Corona, CA Homeowners Insurance FAQs

Your Corona homeowners insurance should be enough to rebuild your home. Generally, people use the sale price to determine the replacement cost, but you should avoid it. If your home was damaged due to any covered peril, your insurance agent would visit your property to do an evaluation. 

Don’t forget to include the unique features of your home, such as stained glass windows. Otherwise, you may find yourself underinsured for your losses. 

The actual cash value coverage means the policy will cover the cost of an item after deducting the depreciation amount. The Replacement cost coverage means the policy will pay the amount to repair or replace the damaged property. 

The modified or functional replacement cost is a new option available for the residents of Corona city. This coverage enables them to restore the home to its functional condition after being damaged by the covered perils. Under this coverage, your damaged property will be replaced by something that serves the same purpose but is not exactly the same. 

A standard homeowners insurance policy provides coverage to any personal belongings inside your home, including any antique items. In the event of a total loss, your insurance company would check and confirm the antique items’ value with a dealer or a specialist. After estimating the total cost of the items, you will be paid a dollar value.

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