Riverside, CA Homeowners Insurance

Riverside, the birthplace of the California citrus industry, is located in Riverside County. The city derived the name due to its location beside the Santa Ana River. It’s home to twelve registered historic sites and over one hundred landmarks. 

Riverside is a city that celebrates its history while moving forward towards modern civilization. The city has everything, varying from art to beautiful gardens. The UCR Botanic Garden is spread across 39 acres of land and is enriched with a wide variety of flora and fauna. For art-loving people, the city has Culver Center of the Arts, which includes a gallery, exhibition space, and film screening room. Riverside is also famous for live performances that are held at the Fox Performing Art Center. When you get tired of strolling around the city, you can take a break at The Salted Pig to enjoy a beer and world-class meals. 

As of 2021, the city has a total population of 321,570 and 857,148 housing units, with a homeownership rate of 66.3%. The median home value in Riverside is $409,100. Whether you are currently living in the city or are planning to purchase a house, it is always a good idea to purchase a Riverside homeowners insurance policy to protect the biggest investment of your life. 

It is not mandatory to purchase homeowners insurance in Riverside, but your mortgage company may require you to purchase one to protect their investment. If you are looking to buy homeowners insurance in Riverside, try our Home Insurance Quote Comparison Tool and get free homeowners insurance quotes from top-rated insurance companies. 

Average Homeowners Insurance Cost in Riverside  

When you are looking for homeowners insurance, it’s a wise decision to know the average cost of homeowners insurance in your city and state. The average cost of homeowners insurance in Riverside is $973, which is lower than the national and state average. 

Riverside Homeowners Insurance Rates Compared to State and National Averages

Riverside Average Home Insurance Cost (annual)California AverageUnited States Average
$973$1,173$1,444

Riverside Homeowners Insurance Premiums by Company

When you start your research for a homeowners insurance policy, you will see that all the insurance companies offer different insurance premium rates. That’s because all the companies use different methods to calculate your homeowners insurance premium.

In Riverside, California Capitals sells the cheapest homeowners insurance premium valued at $410. In the following table, we have listed the insurance rates offered by different insurance providers. 

Riverside Homeowners Insurance Rates by Companies

CompanyAverage Annual Premium Rate
California Capitals$410
Mercury$680
USAA$697
AAA$798
Chubb/Federal$865
Tokio Marine America$891

Riverside Homeowners Insurance Rates by Coverage  Amount 

The dwelling coverage amount is used to replace or repair your property if it gets damaged due to any covered perils. If your chosen dwelling coverage level is high, your homeowners insurance will cost more. 

Here’s how different coverage levels affect your annual Riverside homeowners insurance rates:

Homeowners Insurance Rates in Riverside by Coverage Limits

Dwelling Coverage AmountAnnual Home Insurance Cost
$100,000$421
$200,000$695
$300,000$759
$400,000$912
$500,000$1,190
$750,000 to $1000,000$1,441

Riverside Homeowners Insurance Rates by ZIP Codes

Riverside homeowners insurance companies use different local variables to calculate your homeowners insurance premium, such as the crime rate of a certain neighborhood, claim history of the neighborhood, and proximity to the fire station and police station. That is why you will see huge differences in the cost of insurance premiums offered by different companies for the same coverage. 

Take a look at the table below, as we have listed the homeowners insurance rates in Riverside based on different ZIP codes.  

Cost of Homeowners Insurance in Riverside by ZIP Codes

NeighborhoodZIP CodeAverage annual homeowners insurance rate
Picker St92503$948
Elk Blvd92505$959
Wicker Way 92504$961
Orange St92501$999
Windwood Cir92508$1,013
Rosal Rd92509$1,027

Popular Home Insurance Deductibles in Riverside

If you want to reduce the cost of your homeowners insurance policy, you can change the deductible amount. A deductible is an amount that the homeowner agrees to pay the insurance provider before filing an insurance claim. You can choose a high deductible amount to reduce the annual insurance premium. Remember to keep the deductible amount to the exact amount you can afford to pay out of your pocket if any covered perils damage your property.

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

Homeowners Insurance Cost in Riverside based on Deductible

Deductible LevelAverage Annual Homeowners Insurance Rate
$500$1,003
$1,000$892
$1,500$839
$2,000$743
$5,000$628

Homeowners Insurance Coverages Available in Riverside

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

  • Dwelling Coverage – Provides coverage for any damage to the physical structure of your home. 
  • Attached Structures Coverage – Protects the monetary loss for any structure attached to your home, such as a garage or shed. 
  • Personal Property Coverage – Provides coverage to your home’s content, including clothes, furniture, appliances or equipment, and jewelry. 
  • Personal Liability Coverage – Provides coverage if someone gets injured on your property or if a resident of your home caused the injury.  
  • Medical Expenses Coverage – Covers the medical expenses if someone gets injured at your property. 
  • Additional Living Expense – Covers additional living expenses that might incur while living away from your home during an insurance claim. 

Best Home Insurance Companies in Riverside

When you are looking for a homeowners insurance policy in Riverside, price is not the only factor you need to consider. You should also take time to check the insurance company’s customer satisfaction rates, claim process, and financial stability.  

To make your research easier, we have listed the best Riverside homeowners companies based on J.D. Power Rankings, AM Best Ratings, and BBB Ratings.

Best Cheap Homeowners Insurance Company in Riverside 

CompanyJ.D. Power RankingA.M. Best RatingBBB Rating
Travelers 5 out of 5 starA++ (Superior)A+
State Farm 4 out of 5 starsA++ (Superior)A
GEICO 5 out of 5 starsA++ (Superior)A+
Allstate 3 out of 5 starsA++ (Superior)A+
Liberty Mutuals 3 out of 5 starsAA-

Top Homeowners Insurance Agents in Riverside

Homeowners Insurance Agency Near RiversideAddress
Empire Independent Insurance Agency6792 Magnolia Ave, Riverside, CA 92506, United States
Preferred Insurance3501 Adams St #400, Riverside, CA 92504, United States
State Farm Insurance Agent6560 Van Buren Boulevard Ste A, Riverside, CA 92503, United States
Joseph Insurance Services3694 Sunnyside Dr, Riverside, CA 92506, United States
State Farm Insurance Agent6511 Brockton Ave, Riverside, CA 92506, United States
State Farm Insurance Agent

 

5053 La Mart Dr #103, Riverside, CA 92507, United States
Riverside Insurance Agency Inc.4166 Almond St, Riverside, CA 92501, United States

Common Causes of Home Insurance Claims in Riverside 

As per the recent reports, the frequency of homeowners insurance claims in Riverside has decreased, whereas the ferocity has increased drastically. The most common causes of homeowners insurance claims are:

  • Wind and hail (35.0%)
  • Fire and lightning (32.0%)
  • Water damage and freezing (24.0%)
  • Theft, Medical payments, Credit card and other(1.0%)
  • Other property damage, including vandalism and malicious mischief (6.0%)
  • Liability for bodily injury and property damage to others (2.0%)

Money-Saving Tips for Riverside Homeowners Insurance  

If you want to save money on your Riverside homeowners insurance policy, there are several steps that you can take. Insurance companies offer different discounts depending on added safety features, from installing home security systems to sprinklers. One of the best ways to reduce your homeowners insurance premium cost is by bundling your auto and homeowners insurance. 

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

Auto & Homeowners Insurance Bundling Discounts in Riverside

CompanyAvg. Annual Auto Insurance Rate (With Bundle)
GEICO$1,246
Mercury$1,283
Farmers$1,607
Allstate$1,910
State Farm$1,940

Special Resources for Residents of Riverside: 

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Riverside, CA Homeowners Insurance FAQs

A standard homeowners insurance in Riverside covers your personal belongings, including special items that you might carry. If you have high-value collectibles, you can ask your insurance agent about additional coverage options. 

A standard homeowners insurance does not cover the damages caused by wildfires, but it does cover the damages caused by an explosion, lightning, etc. 

Most homeowners insurance in Riverside offers coverage against the damages caused during theft and vandalism. We recommend getting a replacement cost coverage to reimburse the cost to repair or replace the damaged items.

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 to negotiate the insurance policy premium.

The standard Riverside homeowners insurance covers the medical expenses if someone gets injured on your premises. The medical payment insurance does not cover the cost if any of your home residents are injured due to any other reason.

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