Insurance Survey

Insurance Commissioner John Geramendi released a statewide survey of homeowners’ and renters insurance on Monday showing wide variations in premiums from one region to another and among companies found that premiums for identical coverage could differ by more than 100%. Garamendi said consumers should shop around, carefully evaluate the type of coverage they are receiving and study the financial condition of the insurance firm that they choose. Consumers may recieve free copies of the survey by calling 800-927-HELP. Both charts use a $150,000 homeowners’ policy based ona 1950 single family frame house with $250 deductible and no losses. Average Annual Premiums by Region Los Angeles / Orange County: $552 San Bernardino / Riverside: $509 San Diego / Imperial: $443 Central California: $492 San Francisco Bay Area: $518 Sacramento Area: $553 Northern California: $553 Statewide: $517 Average Annual Premium In L.A. and Orange Counties by Company State Farm: $543 Allstate: $539 Farmers: $568 Fireman’s Fund: $568 Chubb Group: $834 USAA: $414 Safeco: $512 Republic: $507 20th Century: $419 Source: State Department of Insurance