Torrance, CA Homeowners Insurance

Torrance is located in the coastal region of South Bay in Los Angeles County. The residents famously call it the place where “sun and sand” meet “suds and stouts.” Just 15 minutes away from the LAX Airport is a hidden gem of California. 

The city offers many unique experiences and activities without the hustle of the busy city. From water sports to museums and art galleries, the city has something for everyone. Torrance is also famous for its eateries, cafes, and music concerts. If you want to spend time with nature, you can enjoy the scenery on the 22 miles long Strand Bike Trail and end the stroll at the Will Rogers State Beach.  Torrance is home to the nation’s largest shopping center – Del Amo Fashion, where you can buy high-end brands. 

Torrance constitutes thirty-four neighborhoods, with a total population of 145,492. The city has 54,360 housing units, and the median value of a house is $687,900. Torrance’s housing expense is not the most expensive, but the real estate prices are on the rise. Regardless of the high cost of buying a home, the homeownership rate in Torrance is 54.76%. 

Although it is not mandatory to purchase homeowners insurance, 80% of the residents have homeowners insurance policy. A standard homeowners insurance protects your home against any unforeseen events and covers you from financial loss. If you are looking for an affordable homeowners insurance policy, take some time to do some research and use the Insurance Online quote comparison tool to find homeowners insurance quotes from the best insurance companies in Torrance. 

Average Homeowners Insurance Cost in Torrance

Once you have bought a house, the next important decision is to buy a homeowners insurance policy. Standard homeowner insurance protects your most valuable asset – home, your personal belongings, pays for the medical bills and additional expenses that might occur while your house gets repaired. 

The average homeowners insurance in Torrance is $1452.55, almost equal to the national average cost of homeowners insurance. 

Torrance Homeowners Insurance Rates Compared to State and National Average Rates

Torrance Average (annual)California AverageUnited States Average
$1452.55$1,165.99$1,478

Torrance Homeowners Insurance Premiums by Company

When you start shopping for your homeowners insurance policy, you will see that different companies offer different rates. Depending on your chosen dwelling coverage, your insurance premium may cost more. Some areas of Torrance may have high premium costs due to their crime rate, wildfire risk, flood risk, earthquake risk, and proximity to police stations and fire stations. 

In Torrance, General Insurance offers the cheapest homeowners insurance for a price of $410, whereas Chubb sells homeowners insurance at a rate of $2535. Have a look at the table below and see rates offered by different providers. 

Comparison of Torrance Homeowners Insurance Premiums by Companies

CompanyAverage Annual Premium Rate
General Insurance$410
Universal North America$459
Mercury Insurance Group$536
Nationwide$850
State Farm$982
Liberty Mutual$1183
Chubb$2535

Average Homeowners Insurance Cost in Torrance by Coverage Amount 

The homeowners insurance rate is determined by the dwelling coverage amount chosen by you. The dwelling coverage amount is used to pay the replacement cost of your home. When you choose a dwelling coverage level, you need to remember that it should be equal to the money it would take to replace your home with a similar structure and features. 

If you choose a high dwelling coverage level, your insurance premium will cost more. For instance, if your dwelling coverage is worth $100,000, your insurance premium will be $205. In the following table, we have listed the homeowners insurance rates based on the coverage limit. 

Homeowners Insurance Rates in Torrance by Coverage Limits

Coverage AmountHome Insurance Cost ($)
$100,000$205
$200,000$532
$300,000$797
$400,000$929
$500,000$1189
$750,000 to $1000,000$1375
Above $1000,000$1627

Torrance Homeowners Insurance Rates by ZIP Code

Homeowners Insurance is calculated after considering various factors. The location of your home is the most significant factor in determining the cost of your insurance premium. The weather conditions in your neighborhood, population density, crime rate, and proximity to a fire station and police station have a considerable impact on the cost of the homeowners insurance policy.

If you move from one street to another, you can see a drastic change in your insurance premium. Take a look at the table below and find out the homeowners insurance rates based on ZIP codes. 

Cost of Homeowners Insurance in Torrance by ZIP Codes

NeighborhoodZIP CodeAverage annual homeowners insurance rate
Earl St Spc90503$252
Meyler St Spc90502$600
Pacific Coast Hwy Spc90505$756
Lincoln Ave90501$1644
Amie Ave90504$2592

Homeowners Insurance Deductibles in Torrance 

A deductible is an amount that homeowners agree to pay the insurance provider before filing an insurance claim. When you buy a homeowners insurance policy, your insurance agent would ask you to decide on a deductible amount, which can be anywhere between $500 to $2000. Some insurance providers even offer $5000 deductible amounts. 

Typically, if you select a low deductible amount, your homeowners insurance premium will be more. You can choose a high deductible amount to reduce the cost of your premium. In the following table, we have demonstrated how the deductible amount can change your annual insurance premium.  

Homeowners Insurance Cost in Torrance based on Deductible

Deductible LevelAverage Annual Homeowners Insurance Rate
$500$1435.96
$1,000$1298.89
$1,500$1221.97
$2,000$1109.78
$5,000$1042.99

Homeowners Insurance Coverages Available in Torrance

Homeowners insurance companies offer several types of coverages, such as:

  • Dwelling insurance: This covers the physical structure of your home and any other structure attached to your home, such as a garage. 
  • Flood insurance: This coverage pays to repair or replace items damaged by floods. A standard homeowners insurance policy does not cover flood damages, so you need to buy additional coverage.
  • Earthquake insurance: This type of insurance pays for damage to your home caused by an earthquake. You need to buy separate earthquake insurance to get coverage. 
  • Loss of use insurance: The loss of use coverage will cover the additional living cost that may incur when your home is uninhabitable while it’s getting repaired. 
  • Personal property insurance: Personal property insurance covers your personal possessions inside and outside of your home.
  • Personal liability insurance: If you or any other resident of your home is found legally responsible for injuries or damages caused to someone or someone’s property, this coverage will protect you.
  • Medical payments insurance: If a guest gets injured at your home, this coverage will cover the medical expenses.
  • Personal umbrella insurance: If the medical expenses exceed the limit of personal liability and medical payment coverage, your umbrella insurance will help you pay the exceeding amount.

Best Home Insurance Companies in Torrance 

Finding the best insurance company can be hard. There are many insurance providers in Torrance who strive to provide insurance policies to the residents of the city. While shopping for homeowners insurance, you should never buy it just based on the price. The ideal insurance company should offer an affordable price, a variety of coverage options, and the best customer service.  

We have researched and collected information about insurance providers based on J.D. Power Ranking, AM Best financial rating, and Better Business Bureau rating of the home insurance market. 

Top-rated Homeowners Insurance Company in Torrance 

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

Top Homeowners Insurance Agents in Torrance

Home Insurance Company Near Torrance, CAHomeowners Insurance Agency Near Torrance, CAAddress
State FarmCarol Robinson2615 Pch Hwy Ste 221, Hermosa Beach, CA, 90254-2228
State FarmElaine Lavine34080 Gldn Lantern St Ste 105, Dana Point, CA, 92629-2679
AllstateJames Astorino3371 Glendale Blvd # 218, Los Angeles, CA, 90039
AllstateJay Shah4747 W El Segundo Blvd Ste 201, Hawthorne, CA, 90250
TravelersMark Insurance Services510 E FOOTHILL BLVD STE 105, SAN DIMAS, CA, 91773

Common Causes of Home Insurance Losses in Torrance

Homeowners insurance can be very costly. Your claim history affects the cost significantly. In Torrance, there are several reasons why people may file an insurance claim.

  • Natural Disasters: Torrance is located just a few miles away from the coast of the Pacific Ocean, which makes the city susceptible to a range of natural disasters, such as hurricanes, windstorms, hail. Floods, blizzards, and tornadoes. 
  • Vandalism: Even though Torrance is pretty safe to live in, the residents often have to face human-induced damages, such as graffiti and vandalism. 
  • Burglary & theft: Burglary and theft are another reason that causes insurance losses in Torrance. You can reduce the risk by installing home security systems, sensor lights, and safety locks. 
  • Fire: Though the frequency of fire claims is less, the damages are the most expensive. A standard homeowners insurance covers the damages caused due to fire and will pay to replace or rebuild your home if it gets damaged. 
  • Water damages: As Torrance is located in the coastal region, it is impossible to avoid floods. Your standard homeowners insurance doesn’t cover the water damages caused by floods. It only covers accidental water damages. You need to buy additional coverage to protect your home. 

Money-saving Tip for Homeowners Insurance in Torrance

Homeowners insurance gives you peace of mind that your home is protected. But, the premium can be very expensive. If you are looking for tips to save money on your homeowners insurance, your best solution is bundling

Bundling your home and auto insurance will not only offer you discounts, but your insurance policies will be more manageable. Insurance companies offer different discounts based on the cost of your premium. Take a look at the table and see how insurance premium fluctuates after bundling your home and auto insurance. 

Auto & Homeowners Insurance Bundling Discounts 

Place1 Car Bundle Savings On Insurance2 Car Bundle Savings On Insurance3 Car Bundle Savings On Insurance
Redondo Beach city, California$101$135$203
West Carson CDP, California$93$124$187
Lomita city, California$95$127$191

Special resources for residents of Torrance: 

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Torrance, CA Homeowners Insurance FAQs

There are several reasons why your homeowners insurance claim might be rejected, such as:

  • Incorrect or missing information was given to the company.
  • If the loss occurred due to negligence of the homeowner or any other resident.
  • Incorrect personal information related to criminal history. 

Suppose you think that the insurance provider has wrongfully rejected your claim. In that case, you can contact the company by either calling or submitting a formal letter requesting them to re-access your losses.

Your homeowners insurance premium is affected by several variables. Here are some of the most common factors that have an impact on the cost of your insurance policy:

  • Your home’s characteristics, including the type of construction, roof type, square footage, age, and value, will affect the insurance premium. 
  • Your location impacts your homeowners insurance premium. Areas with high crime rates and a higher risk of natural disasters will have higher premiums.
  • Your chosen deductible amount also affects the insurance cost. 
  • Your insurance provider uses your claim history to assess your risk factor. 
  • If you have a lot of personal possessions that include expensive items, your insurance premium will cost more. 

A windstorm mitigation inspection is conducted to check your home’s resistance to wind storms. The inspector will come and look at your roof, doors, and windows. As a resident of Torrance, you don’t need to get the mitigation inspection done; if you do, you can save quite a lot of money off your homeowners insurance policy. 

A catastrophe claim is filed when a single disastrous event causes a loss worth $25 million or more. Here is a list of events that can lead to catastrophe claims:

  • Hurricane
  • Floods
  • Wildfires
  • Tornadoes
  • Mudslides
  • Earthquakes
  • Hail
  • Terrorism

Being a homeowner, you should always keep an up-to-date record of your personal items and valuable possessions. The inventory can be very helpful to assess the damaged property if your house gets damaged by a covered peril. You can use your inventory to ensure that you have enough dwelling coverage.

You can also add the receipts of your valuable items to the home inventory. We recommend that you start taking inventory of one room at a time. You can also take photos of your rooms and make videos while talking about different personal items. 

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