Oakland, CA Homeowners Insurance

Oakland is the largest city in Alameda County, and it stretches from the waterfronts to rolling hills. It’s a giant city that offers both an urban and cultural feel. The city is famous for its local slang, delicious food, and complicated history. 

The beautiful city of Oakland offers a wide array of attractions, including parks, lakes, and art galleries. It is famous for the Oakland Redwood Regional Park, which is often very peaceful and quiet. When you visit downtown, you can enjoy a giant and gorgeous lake in the middle, named Lake Merritt. There are many art galleries that showcase the art pieces created by local artists, such as the Oakland Art Murmur. 

Oakland has a very diverse community, and as of 2021, it has a total population of 435,224. There are 150,790 households in the city, with a homeownership rate of 41.3%. The median value of a home in Oakland is $581,099. Regardless of the property’s cost, homeowners in Oakland are always looking for cheap homeowners insurance policies. 

A standard homeowners insurance policy in Oakland will protect your most significant investment – your home, from any unforeseen financial setbacks. Although it is not legally required to purchase homeowners insurance, it’s wise to get one anyway. If you are looking to buy homeowners insurance in Oakland, try our Home Insurance Quote Comparison Tool and get free homeowners insurance quotes from top-rated insurance companies. 

Average Homeowners Insurance Cost in Oakland

Your home is the biggest investment of your life, and it is vital to protect it against any unforeseen disasters. A standard homeowners insurance policy protects the homeowner’s assets, personal property and covers any medical bills. When you are looking for homeowners insurance, you need to compare rates from the best-rated companies in your area to ensure you get the best rates.

In Oakland, the average homeowner insurance rate is $1,690, which is slightly higher than the national average.  

Oakland Homeowners Insurance Rates Compared to State and National Averages

Oakland Average Home Insurance Cost (annual)California AverageUnited States Average
$1,690$1,173$1,444

Oakland Homeowners Insurance Premiums by Company

When you start looking for affordable Oakland homeowners insurance premiums, you will notice that rates vary significantly between companies. All the insurance companies offer special discounts, which affects the insurance price as well. You need to find the right insurance company for your needs. 

In Oakland, Mercury offers the cheapest homeowners insurance policy, valued at just $596 per year. 

Take a look at the table below and see rates offered by different insurance providers in Oakland. 

Oakland Homeowners Insurance Rates by Companies

CompanyAverage Annual Premium Rate

Mercury

$596

Allstate

$733

Nationwide

$795

State Farm

$841

USAA

$852

Oakland Homeowners Insurance Rates by Coverage Amount 

When you purchase homeowners insurance, you need to choose a dwelling coverage limit covering the cost to rebuild or replace your home if it gets damaged due to any covered disaster. The dwelling coverage selected by you will have a direct impact on the cost of your homeowners insurance.  

Here’s how different coverage levels affect your annual homeowners insurance cost in Oakland :

Homeowners Insurance Rates in Oakland by Coverage Limits

Dwelling Coverage AmountAnnual Home Insurance Cost
$100,000$301
$200,000$395
$300,000$750
$400,000$1,158
$500,000$1,243
$750,000 to $1000,000$2,029

Oakland Homeowners Insurance Rates by ZIP Codes

Not every neighborhood has the same insurance rates in Oakland. If your neighborhood is prone to wildfires, floods, and heavy snow, you will likely have a high homeowners insurance premium. The cost of Oakland homeowners insurance depends on the local variables like your home location, number of claims submitted in your neighborhood, crime rate, and cost of the property.    

Take a look at the table below, and see how homeowners insurance rates in Oakland differ based on different ZIP codes. 

Cost of Homeowners Insurance in Oakland by ZIP Codes

NeighborhoodZIP CodeAverage annual homeowners insurance rate
Booker St94606$598
Cairo Rd94603$622
Longridge Rd94610$631
Cole Street94601$916
Hillview St.94602$1,012
9th St.94607$1,271
24th St.94612$1,592

Popular Home Insurance Deductibles in Oakland

When you purchase homeowners insurance, your insurance agent would ask you to decide on a deductible amount. A deductible is a dollar amount that a homeowner is responsible for paying when filing an insurance claim. A high deductible can help you to reduce the cost of your homeowners insurance premium. 

The following table shows how Oakland homeowners insurance rates fluctuate based on different deductible amounts. 

Homeowners Insurance Cost in Oakland based on Deductible

Deductible LevelAverage Annual Homeowners Insurance Rate
$500$1,675
$1,000$1,512
$1,500$1,424
$2,000$1,291
$5,000$1,098

Homeowners Insurance Coverages Available in Oakland

A standard homeowners insurance policy in Oakland provides the following coverages:

  • Dwelling Coverage: Your homeowner’s insurance policy provides coverage against the damage caused by fire, hurricanes, vandalism, and other covered peril. Your insurance provider will reimburse the cost to repair or replace the structure of your property.  
  •  
  • Other Structure: Homeowners insurance also covers the structures attached to your home, such as a garage or shed. 
  • Personal Property: Homeowners insurance covers all the personal property that’s inside your house. Insurance companies also offer ‘Off-Premises’ coverage specific to your personal possessions like jewelry. 
  • Loss of Use: After an unforeseen event, if you are forced to stay out of your home, your insurance policy will cover all the living expenses related to housing and food till your house gets repaired. 
  • Personal Liability: If your son or a dog was responsible for causing an injury to someone or their property, your insurance would cover it. 
  • Medical Expenses: If a guest gets injured at your house, your Oakland homeowner insurance will be responsible for paying for their medical expenses.

Best Home Insurance Companies in Oakland

When looking for a homeowner insurance policy in Oakland, don’t just pay attention to the cost. You need to also consider the customer service, claim process, and financial status of the insurance provider. 

We compiled a list of the best Oakland homeowners insurance companies based on J.D. Power Rankings, A.M. Best Ratings, and BBB Ratings.

Best Cheap Homeowners Insurance Company in Oakland

CompanyJ.D. Power RankingA.M. Best RatingBBB Rating
State Farm 4 out of 5 starsA++ (Superior)A
Erie 5 out of 5 starsA+ (Superior)A+
Travelers 5 out of 5 starA++ (Superior)A+
Allstate 3 out of 5 starsA++ (Superior)A+
Nationwide 3 out of 5 starsA+ (Superior)A+

Top Homeowners Insurance Agents in Oakland

Homeowners Insurance Agency Near OaklandAddress
Jumpstart Insurance344 Thomas L Berkley Way, Oakland, CA 94612, United States
State Farm Insurance Agent490 Grand Ave #210, Oakland, CA 94610, United States
Farmers Insurance 1013 Harrison St Ste 215, Oakland, CA 94607, United States
Allstate Insurance900 Alice St Ste 128, Oakland, CA 94607, United States
Rate Crushers Insurance Brokers410 14th St, Oakland, CA 94612
Farmers Insurance 3560 Grand Ave, Oakland, CA 94610, United States
Allstate Insurance3608 Grand Ave Ste 201, Oakland, CA 94610, United States

Common Causes of Home Insurance Claims in Oakland

Oakland is highly prone to natural disasters, such as fire, earthquakes, floods, and riots. The biggest reasons for homeowners insurance claims in Oakland are wildfires and theft. The most recent wildfires caused a homeowners insurance loss of $950 million. In 1992, Oakland recorded the costliest homeowners insurance claims of $1.7 billion due to a firestorm. 

Due to the increased risk of wildfires, some of the Oakland homeowners insurance companies have stopped renewing insurance policies. The homeowners can buy wildfire insurance coverage through the California FAIR plan. 

Money-Saving Tips for Oakland Homeowners Insurance 

If you want to save money on your Oakland homeowners insurance, you can try these steps: 

  • Renovating your home
  • Bundling your home and auto insurance
  • Construction type of your home
  • Installing sprinklers, fire alarms, and burglar alarms
  • Make a full payment of your premium. 

The best way to reduce the cost of your homeowners insurance policy is by bundling your home and auto insurance. Bundling can reduce your insurance premium by 20%. 

Refer to the following table to see how bundling your home and auto insurance affects your insurance premiums.

Auto & Homeowners Insurance Bundling Discounts in Oakland

CompanyAvg. Annual Auto Insurance Rate (With Bundle)
Mercury$1,365
GEICO$1,381
Farmers$1,826
AAA$2,028
State Farm$2,040

Special Resources for Residents of Oakland: 

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Oakland, CA Homeowners Insurance FAQs

If you are having difficulty finding homeowners insurance policies and have been denied a policy by at least three insurance companies, you can contact the state department of insurance. If you are unable to purchase Oakland homeowners insurance, you might be eligible to get insurance coverage through the California Fair plan. 

Your Oakland homeowners insurance policy covers your personal belongings against any damages caused by covered perils. Generally, the policy covers personal belongings at 50% and the loss of use coverage at 20%.

Standard homeowners insurance provides financial coverage against losses caused by disasters, theft, and accidents. Most of the homeowners insurance policies offer four types of coverage:

  • Coverage for the structure of your home
  • Coverage for your personal belongings
  • Personal liability protection
  • Coverage for additional living expenses that might incur while your property is getting repaired. 

Before you buy homeowners insurance, you need to consider several factors, such as:

  • How much coverage do you need
  • What types of coverage your insurance policy offers
  • What would the deductible amount
  • Which payment method you will be using

It is not mandatory to purchase flood insurance in Oakland. But, your mortgage company might require you to purchase coverage. 

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