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.
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 Average Home Insurance Cost (annual)||California Average||United States Average|
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.
|Company||Average Annual Premium Rate|
|Tokio Marine America||$891|
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 Amount||Annual Home Insurance Cost|
|$750,000 to $1000,000||$1,441|
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.
|Neighborhood||ZIP Code||Average annual homeowners insurance rate|
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.
|Deductible Level||Average Annual Homeowners Insurance Rate|
A standard homeowners insurance policy in Riverside provides the following coverages:
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
|Company||J.D. Power Ranking||A.M. Best Rating||BBB Rating|
|Travelers||5 out of 5 star||A++ (Superior)||A+|
|State Farm||4 out of 5 stars||A++ (Superior)||A|
|GEICO||5 out of 5 stars||A++ (Superior)||A+|
|Allstate||3 out of 5 stars||A++ (Superior)||A+|
|Liberty Mutuals||3 out of 5 stars||A||A-|
|Homeowners Insurance Agency Near Riverside||Address|
|Empire Independent Insurance Agency||6792 Magnolia Ave, Riverside, CA 92506, United States|
|Preferred Insurance||3501 Adams St #400, Riverside, CA 92504, United States|
|State Farm Insurance Agent||6560 Van Buren Boulevard Ste A, Riverside, CA 92503, United States|
|Joseph Insurance Services||3694 Sunnyside Dr, Riverside, CA 92506, United States|
|State Farm Insurance Agent||6511 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|
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:
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.
|Company||Avg. Annual Auto Insurance Rate (With Bundle)|
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.