Homeowners Insurance Average Annual Premiums
Homeowners and renters insurance prices have risen only slightly in the last year, Insurance Commissioner John Garamendi said in releasing the department’s annual survey of the state’s largest insurers.
In Los Angeles and Orange counties, for example, the average price among the state’s 10 largest insurers for a $150,000 homeowners policy on a frame house built in 1985 was $516, up $3 from a year earlier.
Insurance officials noted that prices vary widely from company to company for the same coverage, so shopping around can save money. Average prices in the Los Angeles/Orange County area for the $150,000 policy mentioned above ranged from a low of $394 by United Services Automobile Assn. to a high of $805 by Federal Insurance. Six hypothetical examples follow:
1. $65,000 homeowners policy; frame construction, built 1950
2. $117,000 homeowners policy; frame construction, built 1985
3. $150,000 homeowners policy; frame construction, built 1985
4. $150,000 homeowners policy; masonry construction, built 1945
5. $40,000 homeowners policy; multifamily building (6+ units)
6. $25,000 tenant/renters policy; multifamily building (6+ units)
LOS ANGELES/ORANGE COUNTIES:
Example State Farm Allstate Farmers Group Fireman’s Fund USAA 1 $306 $256 $298 N/A $235 2 440 402 430 499 328 3 545 487 525 465 394 4 541 546 525 484 414 5 189 192 152 260 109 6 230 201 224 N/A 146
Example Safeco Federal Insurance 20th Century Republic Ins. Group 1 $293 $461 $195 $292 2 435 681 315 437 3 516 805 411 522 4 538 842 411 522 5 229 482 185 232 6 257 546 N/A 218
SAN BERNARDINO/RIVERSIDE COUNTIES
Example State Farm Allstate Farmers Group Fireman’s Fund USAA 1 $269 $253 $238 N/A $220 2 421 414 367 390 310 3 571 515 484 458 372 4 606 538 484 477 390 5 143 148 121 170 85 6 180 155 190 241 146
Example Safeco Federal Insurance 20th Century Republic Ins. Group 1 $218 $439 $168 $254 2 329 690 317 383 3 371 817 476 458 4 386 854 476 458 5 140 453 151 194 6 208 431 N/A 182
San Diego/Imperial counties
Example State Farm Allstate Farmers Group Fireman’s Fund USAA 1 $233 $220 $239 N/A $220 2 360 328 357 410 291 3 479 393 472 397 350 4 479 420 472 397 350 5 109 122 98 180 76 6 139 127 155 306 146
Example Safeco Federal Insurance 20th Century Republic Ins. Group 1 $256 $347 $154 $248 2 344 495 269 368 3 386 579 358 440 4 402 604 358 440 5 143 338 128 207 6 220 378 N/A 182
Central California (including Ventura and Santa Barbara counties)
Example State Farm Allstate Farmers Group Fireman’s Fund USAA 1 $239 $255 $234 N/A $236 2 378 401 421 354 329 3 488 496 526 415 396 4 490 531 526 432 415 5 126 143 121 165 77 6 154 149 172 201 146
Example Safeco Federal Insurance 20th Century Republic Ins. Group 1 $238 $365 $177 $266 2 343 524 324 396 3 408 614 417 476 4 426 641 417 476 5 167 372 142 194 6 190 418 N/A 182
Source: California Department of Insurance
