Murrieta is the 58th most populous city in California, with a population of over 112,000. The city sits in the southwestern part of the state and is mostly residential. It has many entertainment and fun hubs for its residents, including the Bear Creek Golf & Country Club, Mulligan Family Fun Center, and the Santa Rosa Plateau.
As one of the fastest-growing cities in California, the need for homes is ever-rising. With that comes an irrefutable need for homeowners in Murrieta to get a reliable home insurance plan to cover their homes against any form of damage or theft on their property.
Murrieta homeowners insurance will reduce the financial burden that comes with repairing damaged property, replacing stolen personal items, and paying for medical costs due to injury sustained in your property.
This guide will take you through all you need to know about Murrieta homeowners insurance. We’ve provided average homeowners insurance rates based on the insurance provider, zip code, and deductible.
The average Murrieta homeowners insurance cost is $1,112 per year. This rate is $332 and $61 lower than the national average and state average, respectively. The exact cost of your home insurance will depend on a couple of factors such as the age of the home, deductible, proximity to the Fire Department, and others. The table below shows the average homeowners insurance rate in Murrieta compared with the state and national averages.
Average Homeowners Insurance Rate in Murrieta vs. Statewide and National Average
While the average Murrieta homeowners insurance rate stands at $1,112, many insurance providers offer lesser rates. Mercury Ins Group offers the lowest annual Murrieta homeowners insurance rate for just $411.26. Comparing quotes from one provider to another will help you reach a decision. It’s important to note the factors that affect the eventual cost of insurance for your home and the coverage the policy offers. Murrieta homeowners insurance average rate might be lower than the state average, but there’s nothing wrong with getting an even cheaper deal. The table below shows you the cheapest Murrieta homeowners insurance premiums.
Cheapest Rates of Murrieta Homeowners Insurance
|Company||Annual Insurance Rate|
|Mercury Ins Group||$411.26|
|First American Specialty||$604|
|Tokio Marine America||$785|
It’s important to know that insurance companies consider neighborhoods when giving a quote for homeowners insurance. Essentially, having your home in some areas costs you more in homeowners insurance. Likewise, having your home in other areas will cost you less. The deciding factor, largely, is the likelihood of claims from the neighborhood you reside. Murrieta has a long list of neighborhoods, and insurance providers usually have different homeowners insurance costs for these neighborhoods. Bellamy Ln sees the lowest homeowners insurance rates in Murrieta at just $610 annually. Our table below lists some places in the city, their ZIP codes, and their average homeowners insurance rates.
|Place||ZIP Code||Insurance Average|
|Pinon Pine Way||92592||$620|
If your home suffers damage, a deductible is the amount of money you pay towards repairs or renovation. Your insurance provider pays for the remaining part of the cost. As a rule, you have to agree with the insurance company on the deductible before putting your signature on a policy. A low deductible means you pay more in insurance premiums compared to choosing a high deductible. In the long run, a high deductible will save you a substantial amount in insurance costs. The table below shows a deductible scenario in Murrieta.
|Low Deductible||High Deductible|
|Yearly Murrieta, California Homeowners Insurance Rate Example||$800||$500|
|Total Home Insurance Policy For 5 Years + Pocket Expense For Claim||$4,800||$4,300|
|Net Savings to Murrieta, California Homeowner From the High Deductible Plan||$500|
Policies from different insurance companies cover almost the same things. One should expect the extent of coverage and the events necessitating claims to differ. The common types of coverage include:
Every insurance company you find will offer you promises of being the best. However, it would be a risky thing to bank on their words alone. But how then do you make your judgment on their customer satisfaction, coverage, rate, and reliability? Thankfully, we have financial institutions like J.D, NAIC, and A.M providing an independent rating of these insurance companies.
Best Companies and their A.M Best Rating, J.D Power Score, and NAIC Complaint Index
|Company||A.M Best Rating||J.D Power Score||NAIC Complaint Index|
In Murrieta, you will find an array of agents representing the different insurance companies that operate in the city. To save you the stress of going from door to door, here’s a list of popular insurance providers and their representatives in Murrieta.
Murrieta Homeowners Insurance Agents and Their Addresses
|Allstate||7270, Victoria Park, Cucamonga, CA|
|Allstate||27281, Las Ramblas Ste 105, Viejo, CA|
|Farmers||41707 Winchester Rd Ste 305, Temecula, CA|
|State Farm||6994 El Camino Real Ste 211, CA|
One could always do with some extra cash. When it comes to Murrieta home insurance nothing’s set in stone. You could way ways – like we’ve listed below – to save some money.
Three out of five homes in the United States have homeowners insurance that doesn’t sufficiently cover their insurance needs. That’s underinsurance. The home has insurance, but the coverage is inadequate. If there’s damage to such property, the owner ends up spending a lot on repairs.
While California enjoyed around 6% population growth in the last decade, Murrieta grew by over 9%. If that tells nothing, it shows many people find Murrieta a better place to live than the average place in California. The city is well-planned, with clean and safe neighborhoods. With a high median household income of over $80,000, alongside its affordable homes, Murrieta makes for a great place to reside.
Getting homeowners insurance is a big deal, so you don’t want to rush it. A good policy will put you at ease if your home suffers any damage. On the flip side, it won’t be an easy ride with a bad policy. Therefore, it’s advisable you carefully compare insurance policies from different providers before making a decision. With you, you get a double of affordability and reliability.
Yes, home value plays a large role in the cost of home insurance in Murrieta, California. The more expensive the house is, the more costly it would be to insure it. The building materials also play a role, as well as the year of construction.
Homeowners insurance covers damages inside the house, such as damages to the ceilings, walls, cabinets, and floors. It also covers damages outside the house, such as damages to the garage, outside walls, roof, and windows. Home insurance also covers personal belongings like electronics and furniture in the house.