San Diego, California may have near-perfect weather year round, but the area’s geographical composition puts homes at risk of expensive and heightened structural damage. San Diego has an estimated population of 1,409,573, with a homeownership rate of about 46.8%. Therefore, if you’re one of the approximately 600,000 people living in San Diego who owns a home, you should have a quality homeowner insurance policy to protect your property and belongings and be sure that a reputable company handles the insurance claims for you in case of wildfires, floods, local crime, and other disasters that could occur.
How Much Does San Diego Homeowners Insurance Cost?
The question most San Diego homeowners seek to find answers to, after deciding to get their home insured, is; how much will it cost to me to get my home insured in San Diego? The answer to that question varies. The cost of homeowners insurance in San Diego depends on factors such as the home’s current value, materials used to construct the home, the location where your home is based, the value of personal items in the home, and several other factors.
On average, homeowners in San Diego pay about $1,238 annually for home insurance, which is lower than the national average of $1,548 and significantly less than the California average of $1,868. So, homeowner insurance coverage is relatively cheap in the city of San Diego.
If you want affordable home insurance coverage in San Diego, it’s best to start by comparing different insurance policies as provided by various insurance companies. While most insurance companies will consider many of the same factors that influence the cost of homeowners’ insurance coverage, the aggregate rate usually differs.
|San Diego Annual Average||California Average||United States Average|
Compared to San Diego’s average annual homeowners insurance rate of $1238— USAA provides basic coverage for about $670 annually, which is the most affordable among other San Diego homeowner insurance companies.
The table below gives you a comprehensive detail of the cheapest home insurance companies in San Diego, California.
|Company||Average Annual Rate|
The level of coverage you choose is one factor that affects your home insurance rates in San Diego. The more the dwelling coverage you carry on your policy, the higher your homeowners insurance rate will be. In San Diego, if you carry a coverage dwelling cost of around $200K to $300K, your average rate will be at about $900, while if you carry a dwelling coverage cost of up to $500k, your rate can rise to about $1,300 annually.
|Coverage Level||Average Annual Rate|
|$100K – 200K||$650|
|$200K – 300K||$900|
|$300K – 400K||$1,150|
Homeowners insurance companies in San Diego consider the location of your home when determining your policy premium. So, your home insurance cost may vary depending on where you live in San Diego. Also, the number of insurance claims previously filed in your local area is a significant determinant of the price you pay for homeowners insurance. Therefore, as a rule of thumb, the area you live in San Diego could significantly impact your home insurance cost.
The area with the cheapest home insurance rates is Normal Heights, which has the ZIP code 92116 and an average annual insurance premium of $650. A typical home insurance policy in 92107 (Ocean Beach) will cost an average of $720 per year—that’s $150 less than the rate you’ll get in the city-wide areas of San Diego. The table below shows you areas in San Diego and the average home insurance rates in those areas. If you’re looking for the neighborhoods with the cheapest homeowners insurances in San Diego, check out the table below.
Cheapest San Diego Homeowners Insurance Rates by ZIP Code and Neighborhood
|ZIP Code||Neighborhood Names||Average Annual Insurance Rate|
|92102||San Diego Central||$830|
One of the many choices you’ll have to make when you’re looking to purchase a homeowner insurance policy in San Diego is how low or high your deductible will be. Deductibles are what you are responsible for paying your insurer for servicing your insurance claim.
The lower your deductible, the higher the premium you pay, and vice-versa. Therefore, if you want a lower homeowner insurance premium, you should consider choosing a higher deductible.
Here are some popular deductibles offered by homeowners insurance companies in San Diego, as well as the average rates for each of them.
|Deductible Level||Average Annual Insurance Rate|
Homeowners in San Diego need to be aware of the different coverage options available to them. These are:
|Homeowners insurance||What is covered|
|HO-1 (Basic Plan)|
|HO-2 (Broad Plan)|
|HO-3 (Special Plan)|
|HO-4 (Tenant’s Plan)|
|HO-5 (Comprehensive Plan)|
|HO-6 (Condo Plan)|
|HO-7 (Mobile home Plan)|
|HO-8 (Older home Plan)|
One of the factors you should consider when shopping for homeowners insurance in San Diego is the price. However, another important factor to put into consideration is the financial stability of the insurer you choose to go with. Financial stability ratings will determine a company’s ability to pay claims. So, make sure you check the AM Best Rating and the JD Power Ranking of your insurer before purchasing your home insurance policy with them.
|Home Insurance Company||Average Annual Rate for $250K Dwelling||J.D. Power Customer Satisfaction Score||AM Best Rating|
|CSAA Insurance Group||$807||832/1,000||A|
The San Diego region is prone to occasional tremors and threats like flooding in the low-lying areas and in recent years a rise in drought-caused wildfires. If your home is in an area at a high risk of wildfire, your dwelling cost could increase.
However, if your home is in an area at a high risk of flooding, you can bear in mind that the federal government usually provides flood insurance.
Also, many homes in San Diego have backyard pools. Residents in homes with pools should be aware that a basic homeowners’ insurance policy does not cover injuries in or around the pool.
|Homeowners Insurance Agents Near San Diego, CA||Address of Agents|
|San Diego Insurance||4411 Mercury St #105B, San Diego, CA 92111|
|Prosper Insurance Solutions||7710 Balboa Ave #323, San Diego, CA 92111|
|Einhorn Insurance Agency||3333 Midway Dr #1, San Diego, CA 92110|
|AIS Insurance Specialists of San Diego||3131 Camino Del Rio N #100, San Diego, CA 92108|
|Farmers Insurance – Amy Hallquist||4241 Jutland Dr Ste 302, San Diego, CA 92117|
|Scripps Insurance Services||10650 Scripps Ranch Blvd #128, San Diego, CA 92131, United States|
|McCormick Insurance Solutions||1437 Morena Blvd # 201, San Diego, CA 92110, United States|
|Nationwide Insurance – Richard Turner Insurance Agency||3443 Camino del Rio S #221, San Diego, CA 92108, United States|
Bundling your San Diego auto insurance and homeowners insurance through one insurance company is one sure way to save money. Bundling policies will save you a substantial amount each month compared to when you insure with separate companies. So, by bundling your insurance policies, you could save up to 17% annually on insurance rates.
|Company||Average Annual Rate|
USAA, Mercury, AAA, AmTrust NGH, and Nationwide insurance companies have the lowest prices among other home insurers in San Diego. So, as a homeowner living in San Diego, take a look at any of these insurance companies for the cheapest rates from trusted insurers.
The average cost of homeowner insurance in San Diego is $1238, making San Diego one of California’s best cities to insure your home. That rate is lower than the average national homeowners’ insurance cost of $1568 and lower than the average of $1838 most homes pay in California. So, homeowner insurance coverage is relatively cheap in the city of San Diego.
The answer to that question depends on the perspective from which you view it. If you observe it from the perspective of companies that offer the cheapest homeowners insurance rates, then USAA, Mercury, AAA, AmTrust NGH, and Nationwide are some of the best. But if you want to save money by Bundling your auto insurance and homeowner insurance, then GEICO, Mercury, Farmers, State Farm, and Allstate insurance companies are the best.
In San Diego, if you carry a dwelling coverage of $200k, your average rate will be at about $900, while if you have a dwelling coverage cost of up to $400k, your rate can rise to $1,300 annually.
The rule of thumb is that the lower your deductible, the higher the premium you pay and vice-versa. Therefore, if you aim to pay a lower premium, it’s best to choose a higher deductible. Also, Bundling your auto insurance and homeowners insurance through one insurance company is another sure way to save money. Bundling will save you a substantial amount each month compared to insuring home and auto with separate companies.