If you live in Norwalk, CA, you must be aware of the rising number of homes in the city. Norwalk has a population of 105,328 and there are more than 22,000 homes in the city. As a homeowner, protecting your home is an important task. A Norwalk Homeowners Insurance can do the perfect job.
The average cost of Norwalk homeowners insurance is $1,096. This is lower compared to the average rate. This cost can be further brought down if you do the right research and choose the right insurance policy. This guide will help you in finding the best and cheapest Norwalk Homeowners Insurance.
|Place||Average Homeowners Insurance Premium|
Allstate provides the cheapest homeowners insurance in Norwalk, CA at $516 per year. Mercury Ins Group is also a good fit which costs $559 yearly.
|COMPANY||Average Insurance Price (Yearly)|
|Mercury Ins Group||$559|
|ASI Select Ins||$705|
|Universal North America||$774|
The most expensive Norwalk homeowners insurance is provided by Safeco and Universal North America. The insurance premium is $750+ for both of these companies.
Dwelling coverage is a part of your homeowners’ insurance policy that may help pay for the rebuilding or the repair of the physical structure of your home if it’s damaged by a covered hazard. A $150k coverage amount home insurance policy from First American Ins will cost you $376. The insurance premium for the same coverage amount can differ greatly from one company to another.
|Coverage||Company||Average Insurance Price (Yearly)|
|$150,000 dwelling||First American Ins||$376|
|$150,000 dwelling||Horace Mann||$393|
|$200,000 dwelling||CSE Safeguard||$550|
|$250,000 dwelling||Pacific Speciality||$1,088|
|$300,000 dwelling||MAPFRE Group||$1,221|
The Norwalk homeowners insurance premium for a home value less than $50k is $47k per year. If your home value is $100,00 to $125,000, your homeowners’ insurance premium will be around $209 per year.
|Home Value||Number of Homes||Average Insurance Premium|
|Less than $50k||556||$47|
|$101,000 – $125,000||167||$209|
|$151,000 – $175,000||237||$305|
|$176,000 – $200,000||239||$357|
|$201,000 – $250,000||1,863||$431|
|$251,000 – $300,000||3,615||$520|
|$301,000 – $400,000||6,962||$664|
|Above $400k||N/A||Varies as per company|
The average home value in Norwalk is $ $162,000. Depending on your home value, the insurance premium gets affected.
The most expensive homeowners insurance rates are in Stagecoach Lane, Faculty Drive, Hoxie Avenue, and Pantheon Street. The insurance premium in these areas is $628. Homes in Brimley Street, Sproul Street, and Pluton Street get the cheapest Norwalk homeowners’ insurance rates at $614.
|Street Name Near Norwalk, CA||Average Insurance Cost|
|Brimley St, Sproul St, Gettysburg Dr, Vieudelou Ave, Bayside Dr, Pluton St||$614|
|Lowemont St, Foix Ave, Cedardale Dr, Pantheon St, Hercules St, Aegean St||$619|
|Hopland St, Fidel Ave, Gracebee Ave, Cameo Ave, Crestbrook St, Hopland St||$620|
|Nordesta Dr, Ben Nevis Ave, Leyva St, Flatbush Ave, Rancho Dr, McRae Ave, Ringwood Ave||$624|
|Stagecoach Ln, Abingdon St, 162nd St, Faculty Dr, Hoxie Ave, Pantheon St||$628|
The deductible is an amount you have to pay before the insurance company helps you with a claim. Hence, it becomes very important to choose the right deductible amount as this can have a big impact on the insurance premium you end up paying. The table below shows how your deductible amount impacts your homeowners’ insurance rate in Norwalk.
Depending on the company, your insurance premium will be different for the deductible amount you choose. For a $1,000 deductible policy with State Farm, your homeowners’ insurance in Norwalk will cost $286.
|Company||Deductible Amount||Average Insurance Premium|
|Stillwater Insurance Group||$500||$379|
|Personal Property Coverage||Covers your personal and precious belongings such as gold jewellery or your clothing and watches in case of an accident.|
|Flood Insurance||Keeps your home protected from flood and weather damage. If your home is destroyed by flood, this coverage will cover your loss.|
|Dwelling Coverage||Does not include personal belongings but will cover the damage caused to your home building and attached structures. This coverage helps you in covering the replacement cost of your home.|
|Personal Liability Insurance||Helps to cover the legal fee or any extra expenses if a court finds you guilty of damage or injuries that took place in your home or on your property.|
|Other Structure Insurance||A fence or tool shed which is not attached to your home is covered under this option.|
Insurance companies are rated by Rating Agencies. A higher rating means that the company is doing a good job. In California, Statefarm and Allstate have great ratings from BBB and AM Best. Before you purchase your homeowners’ insurance policy, make sure you check the company’s ratings.
|Rating Company||Mercury Ins||Statefarm||Allstate||USAA|
|JD Power Rating||NIL||4/5||4/5||5/5|
|AM Best Rating||A||A++||A+||A++|
The following list contains the contact details of some of the best and most trusted insurance agents/agencies nearby Norwalk, CA.
|NA||3 Imperial Promenade 3 Imperial Promenade Santa Ana, Garden Grove, CA, 92707|
|Liberty Mutual||9795 Cabrini Dr STE 206, Burbank, CA, 91504|
|State Farm||23033 Lyons Ave. Suite 1, Santa Clarita, CA, 91321-2758|
|Travelers||28570 Marguerite Parkway STE 208, Mission Viejo, CA, 92692|
|Nationwide||4326 South St 90712, CA|
|Allstate||Ste 616 5199 E Pacific Coast Hwy 90804-3381,CA|
The most important questions which you need to ask your insurance agent are regarding your homeowners’ policy. These can be broken down into 3 most important questions:
Senior occupied homes in Norwalk can save $94-95 in homeowners insurance premiums. In Downey-Norwalk, the savings for seniors are $93.
|City||Average Insurance Savings|
|Norwalk||$94 – $95|
|Santa Fe Springs||$92|
Bundling means that you are buying more than one insurance from the same company. If you buy homeowners insurance and you bundle it with car insurance or life insurance, then you can get some extra discount. This is your insurance bundling savings.
|Bundle||X1 Car Insurance||X2 Car Insurance||X3 Car Insurance|
|Downey-Norwalk CCD, CA||$78||$106||$155|
|Santa Fe Springs, CA||$77||$105||$157|
You can save $78 if you bundle your Norwalk homeowners insurance with one-car insurance. If you have two cars and you decide to bundle your home insurance policy, then you can get a
discount of $106 in Downey-Norwalk.
The insurance premium in Seal Beach with a home value of $338k and median household income of $21k is the cheapest at $890 per year. Compared to Redondo Beach, a home value of $817k and a median household income of $16.6k, the insurance premium is $1,655 yearly.
|Place||Home Value||Household Income||Average Insurance Cost|
|Insurance Company||GEICO Insurance||Nationwide Insurance||Liberty Mutual|
|Home Description||3 Beds, 1 Bathroom||2 Beds, 1 Bathroom||4 Beds, 2 Bathroom|
|Coverage Amount||$301,000 – $349,999||$149,999 – $174,999||$401,000 – $499,999|
Resource Links For California Homeowners Insurance
The average household income in Norwalk, CA is $46,015. This is below the national average of $61,928.
No, it is not. Homeowners insurance is a personal choice to stay safe from dangers like fire, lightning, theft, weather damage etc. In cases like mortgage financing, a homeowners insurance might become necessary but in general, it is not.
The average cost of homeowners insurance in Norwalk, CA is $1,096.
The average home value in Norwalk is $ $162,000.
Depending on your home value, the insurance premium gets affected. If your home value is high, the insurance premium also increases. If your home value is $100,00 to $125,000, your homeowners insurance premium will be around $210 per year.