Escondido, CA Homeowners Insurance

Escondido is a beautiful city surrounded by rocky hills and famously called the hidden jewel of the valley. The city is located just 30 miles away from San Diego and 40 miles from Mexico.

The city is home to major attractions, including Queen Califia’s Magical Circle, Roynon Museum of Earth Science and Paleontology, Dixon Lake, and Altipiano Vineyard & Winery. The city has a newly renovated Westfield North County Mall to offer shopping adventures. The historic downtown offers many patio dining restaurants like Filippi’s Pizza Grotto and Mexico Lindo.

The total population of the city is 151,625, out of which 50.6% of residents are homeowners. In terms of crime rate, Escondido is safer than 29% of US cities, with a violent crime rate of 21.5 and a property crime rate of 32.7.

Finding the Cheapest Homeowners Insurance in Escondido

Homeowners insurance is a necessity for homeowners living anywhere in the United States. Buying your own home is the biggest investment and an asset for your future. Thus, when it comes to protecting it, homeowners only want the right kind of homeowners insurance.

A standard policy protects the homeowner’s assets, personal property and covers any medical bills. The California state government does not require Escondido homeowners insurance, but if you have an active mortgage on your home, your lender needs you to purchase a homeowners insurance policy.

Whether you are currently living in Escondido or planning to buy a house, our online insurance comparison tool can help you get free quotes and compare rates offered by different insurance providers.

The Average Cost of Homeowners Insurance In Escondido

The average homeowners’ insurance in Escondido cost $1076, with 46,338 homes in the city, and the median value of a home is $396,200.

Escondido Homeowners Insurance Rates Compared to State and National Average Rates

Escondido Average Home Insurance Cost (annual) California Average United States Average
$1076 $1,165.99 $1,478

Cheapest Homeowners Insurance Company in Escondido

The insurance providers offer a very competitive price for homeowners insurance in Escondido. In Escondido, Travellers insurance company offers the cheapest homeowners insurance rate of $846.

We have collected quotes from the top homeowners’ insurance providers in Escondido. Refer to the chart below to find their rates.

Escondido Homeowners Insurance Rate Comparison by Companies

Company Average Annual Premium Rate
Travellers $846
Liberty Mutuals $942
Farmers $1,089
Allstate $1,320
GEICO $1,549
State Farm $1,375
USAA $1,629
American National Property and Casualty Company $2,374

Average Homeowners Insurance Cost in Escondido by Coverage Amount

While purchasing a homeowners insurance policy, you will be required to decide a dwelling coverage amount. The dwelling coverage should be enough to rebuild your home if it gets damaged due to fire, windstorm, or any other unforeseen disaster. While deciding the amount, you must account for the cost of replacing the structure of the house, the other structures attached with the house, and the cost of appliances or equipment installed in your house.

The level of coverage you choose will directly impact your homeowners insurance premium. In Escondido, if the dwelling coverage amount is $100,000, the average premium will be $249. On the other hand, for coverage worth $1,000,000, the homeowners insurance will cost $2241 annually.

Homeowners Insurance Rates In Escondido by Coverage Limits

Coverage Amount Home Insurance Cost ($)
$100,000 $249
$200,000 $790
$300,000 $963
$400,000 $1,280
$500,000 $1,640
$750,000 to $1000,000 $1,890
Above $1000,000 $2,241

Most and Least Affordable Neighborhoods for Escondido Homeowners Insurance 

The location of your home has the biggest impact on your homeowners’ insurance premium. The rates may vary from state to state and even from ZIP Code to ZIP Code. You may be paying a premium of $1289, and your friends from two streets down could have an annual premium of only $778.

In Escondido, the average homeowner insurance in E Valley parkway and E Lincoln Ave is the cheapest, with a rate ranging from $770 to 1120. The most expensive neighborhood for homeowners insurance is located around the N Broadway Spec. The average cost of houses in this neighborhood is high, which makes the premium cost more.

The homeowners’ insurance premium is higher in the neighborhoods where the crime rate is higher than average. The proximity to the nearest fire station or police station will also affect your homeowners’ insurance cost. If you live near the coastline in Escondido, your insurance premium will be higher as your location is susceptible to floods.

Homeowners Insurance Coverage Cost in Escondido by ZIP Codes

Neighborhood Zip Code Average annual homeowners insurance rate
E Valley Pkwy 92027 $1108
Felicita Road/Hamilton Ln 92029 $2288
San Pasquel 92025 $2700
N Broadway Spc 92026 $3288

Homeowners Insurance Deductibles in Escondido

A deductible is an amount that a homeowner agrees to pay to the insurance provider before filing a claim. For example, if your deductible amount is $1000 and you file a claim for $5000, you will be responsible for paying the $1000 from your own pocket, and the insurance company will only pay the remaining $4000.

Homeowners usually opt for a high deductible amount because it will reduce the cost of your homeowner insurance policy. Have a look at the homeowners insurance cost based on the deductible amount.

Home Insurance Costs By Deductible In Escondido

Deductible Homeowners Insurance Cost
$500 Deductible $1,063.08
$1000 Deductible $961.62
$1500 Deductible $905.19
$2000 Deductible $821.61
$2500 Deductible $771.29

Types of Homeowners Insurance Coverages Available in Escondido

The homeowners of Escondido have the option to choose from several homeowners insurance coverages. Below is a brief description of individual coverages:

  • Dwelling Coverage: This type of coverage protects your home structure when it’s damaged due to unforeseen incidents covered under the policy. The amount of dwelling coverage should be enough to match the full replacement cost of your property.
  • Other Structures: This coverage protects other property structures, like garages, tool sheds, etc. In a standard policy, the coverage is limited to 10%. The homeowners can buy more coverage at an additional premium.
  • Personal Property: The coverage protects the content of your home and other personal belongings like jewelry, antiques, arts, furs, collectible items, silverware, and money.
  • Loss of use: This type of coverage pays for any expenses that occurred due to inhabitability of your home. The coverage offers protection against expenses like housing, meals, and storage. The insurance provider would need you to submit receipts of each individual expense to process the reimbursement.
  • Personal Liability: If one of your home residents is legally responsible for damage to someone else’s property, the personal liability coverage will protect against it. The liability coverage would apply if someone got injured at your house.
  • Medical Payments: If a guest got injured at your house, this coverage would pay for their medical expenses. This coverage does not apply to the resident of your home.

Top Rated Homeowners Insurance Companies in Escondido

While buying homeowners insurance, people usually pay attention to the price, but that’s not the only factor you should consider. You must review the customer service, financial stability, and claim process of the insurance provider. In the following chart, we have compiled a list of homeowners insurance companies in Escondido along with their ratings:

Best Homeowners Insurance Company in Escondido based on Rating

Company J.D. Power Ranking A.M. Best Rating BBB rating
Travelers 5 out of 5 star A++ (Superior) A+
Nationwide 3 out of 5 stars A+ (Superior) A+
Erie 5 out of 5 stars A+ (Superior) A+
All State 3 out of 5 stars A++ (Superior) A+
State Farm 4 out of 5 stars A++ (Superior) A

Top Homeowners Insurance Agents in Escondido

Safe N Easy Insurance Services Escondido – Commercial | House | Home Insurance Company 2510 S Escondido Blvd, Escondido, CA 92025
Anikim Insurance (Auto insurance Home Insurance) Escondido CA

365 W 2nd Ave, Escondido, CA 92025
(760) 300-3957

Home and Auto Insurance

1003 North Ave, Escondido, CA 92026

North County Insurance 900 Canterbury Pl #310, Escondido, CA 92025
(760) 745-9511
State Farm Auto Insurance Home & Life Insurance 120 W Grand Ave Ste 101, Escondido, CA 92025
(760) 741-8383
HJM Insurance Services, Inc. 500 La Terraza Blvd #150, Escondido, CA 92025
(760) 546-2546
20/20 Insurance Services 225 W Valley Pkwy #101, Escondido, CA 92025
(760) 432-2020
Christopher Timmons: Allstate Insurance 1340 W Valley Pkwy Ste 206, Escondido, CA 92029
(760) 737-7424

Common Causes of Homeowners Insurance losses in Escondido

In the last two decades, the number of claims filed has decreased. As per recent statistics, five claims are filed per hundred insured homes, but the frequency of claims has increased.

About 76% of home insurance claims result from damages caused by wind, accidental water damage, hail, and theft. Below is the exact percentage of Homeowners insurance losses caused by different perils:

  • Wind and hail (33.1% of total losses)
  • Water damage and freezing (29.5%)
  • Fire and lightning (26.8%)
  • Vandalism and malicious mischief (5.7%)
  • Liability for injury and property damage to others (2.7%)
  • Theft (1.9%)
  • Medical payments (0.2%)
  • Credit card and other (less than 0.1%)

Money-saving Tip for Homeowners Insurance in Escondido

The best way to save money on your homeowners insurance is by bundling it up with your auto insurance. If you have the same provider for both home and auto insurance, you can ask them to provide you a package that offers sufficient coverage on both assets. You can save 12% by combining two insurance policies.

All the insurance companies provide different bundling discounts. Here’s a chart showing how much you can save after bundling your insurance policies:

Homeowners Insurance Premium After Bundling

Company Average yearly car insurance rate Average yearly homeowners insurance rate Discount* Total
Nationwide $1,400 $1,140 4% $2,438
Farmers $1,245 $1,660 10% $2,615
Progressive $1,240 $1,645 5% $2,741
State Farm $1,370 $1,679 10% $2,744
Allstate $1,715 $2,490 5% $3995
Liberty Mutual $2,355 $2,490 3% $4,700

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Escondido, CA Homeowners Insurance FAQs

Most homeowners simply get their homeowners insurance renewed without negotiating the price. When you haggle the price, the provider will probably provide a rate even cheaper than the original premium.

You can use the Insurance Online Quote Comparison Tool to check homeowners insurance rates from different providers, see what kind of discounts they are offering, and decide a final price point to negotiate the insurance policy premium.

The maximum amount that can be reimbursed when a homeowner files a claim is written on the declaration page, along with all the coverages. On the same page, the provider states the way in which you will be reimbursed – an item replacement cost or actual cost value.

The actual cash value is based on the original cost of your home and personal property. The policies with cash value settlement options are cheaper as the claim rate is low.

The replacement cost value refers to the amount of money to replace the damaged home in today’s market. We recommend going with a replacement cost value as it will provide the same home or a similar home. 

Insurance companies use credit-based insurance scores to determine your homeowners’ insurance premium.  A high credit score may bring your premium down by a few dollars. 

A standard homeowners policy provides coverage for personal belongings, including jewelry, antiques, art pieces, etc. Generally, the insurance company would set a limit of liability for theft and only pay that amount if you lost your jewelry. The homeowners have the option to increase the coverage by raising the limit of liability or getting a floater policy to cover for accidental losses of your personal belongings.

As the threat of wildfires increased, the majority of insurance companies stopped offering wildfire coverage. The California government launched the Fair Plan for homeowners to get coverage against wildfires. The plan has a few insurance providers who are authorized to sell the wildfire insurance policy.

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