Sunnyvale, located in the heart of Silicon Valley, is home to more than 152,770 residents who have kept a very progressive approach to life. Every year, the picture-perfect city attracts thousands of tourists who are looking for a wide array of activities to enjoy. Many technology leaders have their headquarters located in Sunnyvale, including Yahoo, Lockheed Martin, NetApp, Spansion, Simco Electronics, Ariba, and many more.
The housing expenses in the city are 380% higher than the national average. There are 59024 housing units in Sunnyvale, and the homeownership rate is 45.4%, with a median home value of $968,700. As the cost of buying a home in Sunnyvale is very high, it is important to have homeowners insurance.
Shopping for homeowners insurance can be very overwhelming. We have made this process much easier. You can use the Insurance Online quote comparison tool and find affordable homeowners insurance rates in Sunnyvale.
Your Sunnyvale homeowners insurance rates depend on many factors, such as your property’s cost, the value of your personal possessions, location of your home, dwelling coverage amount, deductible amount, and type of construction of your home. If your house is located in areas that are susceptible to natural disasters and property crimes, your insurance premium can be expensive.
The average cost of homeowners insurance in Sunnyvale is $1314.99, higher than the state average.
|Sunnyvale Average (annual)||California Average||United States Average|
Homeowners insurance companies work to provide their best policies based on different types of coverages. The insurance premium can vary from one company to another. In Sunnyvale, Amco insurance offers the cheapest homeowner insurance rate of $325.99, whereas Liberty Mutual has the most expensive rates.
Depending on your insurance company, your premium can cost anything from $300 to $2499. We have gathered some basic information from Sunnyvale and collected insurance quotes from different insurance providers. Refer to the table below and see the list of cheapest homeowners insurance companies in Sunnyvale.
|Company||Average Annual Premium Rate|
|Universal North America||$391|
Dwelling coverage is an important part of your Sunnyvale homeowners insurance. When you are looking for a homeowner insurance policy, you need to decide on a dwelling coverage level that should be equal to your home’s replacement cost. The dwelling coverage amount is used to pay to rebuild your home if it gets damaged due to any unforeseen event.
The chosen dwelling coverage affects the cost of your insurance premium. In the following table, we have shown how dwelling coverage amount affects the annual homeowners insurance rate.
|Coverage Amount||Home Insurance Cost ($)|
|$750,000 to $1000,000 dwelling||$920|
|Above $1000,000 dwelling||$1090|
Homeowners Insurance is calculated based on the local variables. Depending on your location in Sunnyvale, you can see vast differences in your insurance premium. If your ZIP code has a history of burglary, hailstorms, and other disasters, your insurance premium will be higher.
The residents who own a house in Afuera Arena enjoy the cheapest homeowners insurance policy. Refer to the table below and find homeowners insurance rates based on ZIP codes.
|Neighborhood||ZIP Code||Average annual homeowners insurance rate|
|Afuera Arena||94089||$ 492|
|N Mary Ave Spc||94086||$1260|
|Santa Catalina Ter||94085||$5088|
A deductible is an amount that you must pay the insurance company in case of a claim. When you shop for an insurance policy, your agent will ask you to decide whether you want a high or low deductible. The chosen deductible amount will affect how much you will pay for your home insurance.
If you want a cheaper insurance premium, you can set a high deductible amount. Just remember to choose an amount that you can afford to pay out of your pocket. Take a peek at the table below and compare the rates based on low to high deductibles.
|Deductible Level||Average Annual Homeowners Insurance Rate|
A standard Sunnyvale homeowners insurance policy includes six coverage provisions that cover different parts. We have briefly explained each type of coverage in the following table.
|Coverage Type||What does it cover?||How much does it cover?|
|Dwelling coverage||Covers the physical structure of your home.||The coverage limit should be equal to the replacement cost of your home.|
|Other structures coverage||Covers the structures that are not attached to your home, such as a garage.||Set as 10% of your dwelling limit|
|Personal property coverage||Covers your personal belongings both inside and outside of your home.||50% of your dwelling limit|
|Loss of use coverage||Covers the additional expenses that might incur while your home gets repaired.||20% of your dwelling limit|
|Personal liability coverage||Covers you against the loss if you or any resident of your home causes damage to someone else’s property or a guest gets injured at your home.||Between $100,000 and $500,000|
|Medical payment coverage||Covers the medical bills of any guest who gets injured at your home.||Between $1,000 and $5,000|
The housing cost in Sunnyvale is always rising. Undoubtedly, your home is your most expensive asset. Even if it is located in a region where disastrous events are highly unlikely, you must buy homeowners insurance to protect your home.
Generally, people focus on the cost of homeowners insurance, but you need to be well informed about the customer service rating, financial status, and claim history of the insurance providers. We have researched and listed the best homeowners insurance companies in Sunnyvale. Have a look at the table below:
|Company||J.D. Power Ranking||A.M. Best Rating||BBB rating|
|Farmers||3 out of 5 stars||A+ (Superior)||A+|
|GEICO||5 out of 5 stars||A++ (Superior)||A+|
|Nationwide||3 out of 5 stars||A+ (Superior)||A+|
|State Farm||4 out of 5 stars||A++ (Superior)||A|
|Allstate||3 out of 5 stars||A+ (Superior)||A+|
|Home Insurance Company Near Sunnyvale, CA||Address|
|Travelers||1731 TECHNOLOGY DR SUITE 250, SAN JOSE, CA, 95110|
|Liberty Mutual Independent||456 MONTGOMERY ST 16TH FL, SAN FRANCISCO, CA, 94104|
|State Farm||3581 Mt Diablo Blvd Ste 225, Lafayette, CA, 94549-8306|
|Travelers||39812 MISSION BLVD STE 101, FREMONT, CA, 94539|
|State Farm||35 Bayhill Shopping Center, San Bruno, CA, 94066-2901|
The main purpose of buying homeowners insurance is to safeguard your home against damages and loss. Once you purchase an insurance policy with the right coverage type, sufficient dwelling coverage, and desired deductible, you need to know about the most common causes of insurance losses in your city.
If you live in any city in California, there are six main causes of insurance claims. The majority of these are filed against the damages caused by weather-related disasters. Here are the top reasons for insurance loss in Sunnyvale:
If you are looking for tips to save money on your Sunnyvale homeowners insurance, bundling your auto and home insurance is the best way. Combining these two policies can help you reduce your insurance premiums by 20%.
Most of the insurance-providing companies offer different discount rates for bundling your auto and home insurance. In the following table, you can see how bundling can reduce the cost of your insurance premiums.
|Place||1 Car Bundle Savings On Insurance||2 Car Bundle Savings On Insurance||3 Car Bundle Savings On Insurance|
|Mountain View city, California||$85||$114||$171|
|Santa Clara city, California||$82||$110||$165|
|Los Altos city, California||$90||$120||$180|
A homeowners insurance claim typically stays on your record for five to seven years. It may vary from company to company. The time also depends on the type of damage. Whenever a claim is filed, the insurance company reports it to the CLUE or A-Plus.
Whenever you buy a new homeowners insurance policy, your insurance agent will check your claim history. If you have a claim filed in the last five years, your insurance policy can be expensive. Some companies may even deny you from buying an insurance policy.
Insurance companies offer many payment methods and plans, such as partial payment, automatic drafts, and full payment. Paying homeowners insurance in full is the best option. Many insurance providers offer discounts for paying full insurance in advance. Additionally, you can save the monthly fee and will never miss a monthly payment.
Your insurance company charges an insurance installment fee in addition to your annual premium. The fee is used to cover the cost of processing your monthly and quarterly payments. If you pay your premium in full, you can save the installment fee.
Several precautions and measures can be taken to reduce the chances of damage or loss. Here are a few steps that you can take to prevent common home insurance claim:
Homeowners are not legally required to purchase homeowners insurance. Still, if you have an active mortgage on your house, the loan lending company needs you to buy a hazard insurance policy. This type of insurance policy would ensure that their investment is safe as the insurance policy would cover the financial losses if the house gets damaged due to any covered peril.