Getting a Condo Insurance Quote in California
Many occupants in California choose to live in a condo for the sake of convenience. Deciding which condo insurance to buy in California can be confusing, so we’re here to help. We have outlined a few key elements to keep in mind as you negotiate the final cost of the insurance plan, so you can find the right coverage at the right cost for your needs. There are many factors that will affect the price of your annual California condo insurance quote, so we’ve made it our goal to make the process of buying condo insurance a breeze.
California Condo Insurance Statistics at a Glance
Considering both the numerous factors that affect the purchase price of condo insurance and how property values are on the rise, condo insurance policies in California can be costly. California is rated the 35th most expensive state in the country for condo insurance. California residents pay an average of $82 a month (or $989.00 per year) for condo insurance premiums. Although Californians are paying more for condo insurance, trends demonstrate that rates are getting cheaper, which is good news. Overall, most cities in California have average monthly rates that are similar, but Oxnard, CA seems to be the cheapest city at $54.92 a month, or $659.00 per year. On the flip side, Chula Vista, CA has the highest condo insurance rates in the state at $1,465.50 per year, which is $122.13 every month. It is important to compare prices at different insurance companies when looking for condo insurance in California, since there are significant variations in rates.
$444
Average Annual Cost of Condo Insurance in California
The average cost of condo insurance in California on an annual basis is $444.
$37
Average Monthly Cost of Condo Insurance in California
The cost of condo insurance in California is roughly $37 per month.
37%
Percentage of Income on Ownership for Condos in California
Residents of California spend an average of 37% of their income on condo ownership.
27 years
Median Age of a Property Which Requires California Condo Insurance
The average age of a property requiring condo insurance in California is roughly 27 years.
What Affects the Costs of Your Condo Insurance in California
There are numerous variables that cause condo insurance policies in California to have inconsistent prices. Insurance companies look at these variables to calculate your individual risk and coverage needs, as well as to give an accurate condo insurance coverage quote to you. Many of the variables that could affect the purchase price of your condo insurance in California may be out of your control. These factors include things like the positioning of the condo, the era of your California condo, and the construction quality of the condo. It’s important to note that if your condo is located in a high-risk flood area, you're required to purchase a flood insurance policy to even qualify for a mortgage. The company can also see if you are entitled to discounts. Some factors within your control that can either help or hurt the final pricing of condo insurance prices in California are: your credit history, your claims history with other condo insurance providers, your driving record, the sum of personal belongings in the condo, the number of residents, and if the condo is rented or owned. To acquire the best possible insurance rate, we highly recommend that you have much of this information prepared before obtaining a condo insurance quote for the California property.
Average Cost of Condo Insurance in California by City
The most common type of condo insurance from California is an H06 insurance policy. Whether you enjoy the city life of Los Angeles or San Diego, or you own a condo in a large town like Burbank, you will probably need H06 insurance for your California condo. To give you an idea of how much it may cost to cover your condo, we’ve provided a full list of estimated insurance quotes from your city. These averages are based on all insurance prices in your individual California city or town, so depending on where your condo is in your neighborhood, your final cost could differ drastically from the quote below.
| City in California | Average Monthly Costs for Condo Insurance | Average Annual Costs for Condo Insurance |
|---|---|---|
| Anaheim, CA | $67 | $808 |
| Antioch, CA | $64 | $769 |
| Bakersfield, CA | $67 | $807 |
| Berkeley, CA | $82 | $983 |
| Burbank, CA | $73 | $873 |
| Carlsbad, CA | $68 | $821 |
| Chula Vista, CA | $122 | $1,466 |
| Concord, CA | $61 | $731 |
| Corona, CA | $71 | $846 |
| Costa Mesa, CA | $73 | $880 |
| Daly City, CA | $61 | $731 |
| Downey, CA | $74 | $888 |
| El Monte, CA | $61 | $727 |
| Elk Grove, CA | $68 | $819 |
| Escondido, CA | $106 | $1,270 |
| Fairfield, CA | $63 | $760 |
| Fontana, CA | $114 | $1,371 |
| Fremont, CA | $61 | $734 |
| Fresno, CA | $65 | $779 |
| Fullerton, CA | $70 | $836 |
| Garden Grove, CA | $68 | $813 |
| Glendale, CA | $72 | $862 |
| Hayward, CA | $61 | $733 |
| Huntington Beach, CA | $73 | $871 |
| Inglewood, CA | $85 | $1,016 |
| Irvine, CA | $73 | $871 |
| Lancaster, CA | $90 | $1,077 |
| Long Beach, CA | $63 | $761 |
| Los Angeles, CA | $85 | $1,015 |
| Modesto, CA | $65 | $776 |
| Moreno Valley, CA | $77 | $925 |
| Murrieta, CA | $79 | $947 |
| Norwalk, CA | $71 | $854 |
| Oakland, CA | $80 | $964 |
| Oceanside, CA | $115 | $1,376 |
| Ontario, CA | $73 | $876 |
| Orange, CA | $68 | $813 |
| Oxnard, CA | $55 | $659 |
| Palmdale, CA | $90 | $1,084 |
| Pasadena, CA | $63 | $756 |
| Pomona, CA | $68 | $821 |
| Rancho Cucamonga, CA | $71 | $855 |
| Richmond, CA | $64 | $768 |
| Riverside, CA | $77 | $922 |
| Roseville, CA | $67 | $804 |
| Sacramento, CA | $67 | $798 |
| Salinas, CA | $59 | $710 |
| San Bernardino, CA | $74 | $887 |
| San Diego, CA | $67 | $805 |
| San Francisco, CA | $58 | $692 |
| San Jose, CA | $60 | $719 |
| Santa Ana, CA | $67 | $801 |
| Santa Clara, CA | $56 | $678 |
| Santa Clarita, CA | $76 | $909 |
| Santa Rosa, CA | $72 | $864 |
| Simi Valley, CA | $57 | $686 |
| Stockton, CA | $60 | $725 |
| Sunnyvale, CA | $56 | $669 |
| Temecula, CA | $79 | $948 |
| Thousand Oaks, CA | $88 | $1,057 |
| Torrance, CA | $63 | $754 |
| Vallejo, CA | $64 | $773 |
| Ventura, CA | $58 | $693 |
| Victorville, CA | $81 | $974 |
| Visalia, CA | $64 | $772 |
| West Covina, CA | $70 | $843 |
Choosing the Best Condo Insurance Company in California for Your Needs
Setting time aside in an attempt to find the ideal condo insurance provider in California for your needs will give you peace of mind in the long term. Insuring yourself and your possessions is worth spending the extra time to search for the best coverage. Don't shortchange your California condo or the possessions inside it by settling for the cheapest plan on the market. Ideally, you will look at and compare several companies before making a final choice, so you can choose the ideal condo insurance provider in California for your needs. Keep in mind that a dependable company will not force you to make a decision quickly or pay a rate that you simply don't want to pay. Start looking for condo insurance companies that reward their long-term customers with discounts and loyalty benefits, or who also supply insurance reductions for bundles. Finally, be certain that your chosen provider is licensed. Check the California Department of Insurance website to learn the licensing status, fiscal stability, and criticism history of your chosen insurer.
The Top Rated Condo Insurance Companies in California Based off Consumer Ratings
State Farm has been in first place for more than 50 years as the largest insurance provider for condos in the USA. In California, a study done by JD Power gave State Farm 3 out of 5 stars, an average rating which included policy offerings, billing and payment, customer service, and claims. State Farm also obtained a NAIC criticism ratio of 1.3 in California. Like many condo insurance providers in California, they offer premium discounts on condos that have renovated or improved to withstand any natural disasters that occur in The Golden State. When independently looking at pure metrics of insurance firms in California, USAA has the greatest JD Power score (5) in the state, while American Family has the lowest rating at 2. The condo insurance provider with the lowest NAIC criticism rating in California is AIG at 0.12, and American Family has the highest (2.55) NAIC criticism ratio.
California Condo Insurance Requirements
Under the Common Interest Development Act, a condo unit owner in California can receive insurance for their own benefit, but they are not required to do so. The Act states that if the condo owner has an insurance policy that covers the same risk as the policy of the institution (or association) at the time of loss, the institution’s policy offers essential insurance and will take precedence. California law requires condominium associations to obtain insurance for the condominium construction as a whole. However, condo unit owners still may want to consider buying an insurance policy for accountability that covers loss or items not covered by the association’s insurance, such as personal possessions and/or any developments that they personally install.
What's Covered with Your Condo Insurance in California
While browsing for condo insurance coverage, you will notice that most condo insurance providers in California will offer standard coverage, which can include construction property coverage, private property coverage, loss of use coverage, and liability coverage. Building property coverage protects you financially from damage to the interior of your condo (like floors, walls, and tiles) and against the loss of permanent fixtures by a covered event, such as a fire. Additionally, the California FAIR Plan ensures that all Californians, even those residing in wildfire-prone regions, have access to necessary property coverage and the peace of mind it brings. It's important to note that standard condominium policies do not cover earthquakes. However, the California Earthquake Authority (CEA) provides affordable and flexible residential earthquake insurance as part of its not-for-profit mission. Property coverage protects your personal belongings, like furniture, electronic equipment, and clothing, that are lost due to a covered event. Liability coverage offers protection for you if you are held legally accountable for injury or property damage. Normally, a condo insurance policy from California insures $100,000 in liability compensation. Loss of use coverage will help with increased living expenses, should your condo in California become uninhabitable due to a covered event, and you want to reside at another location, but you are paying more than what you did at your condo.
| Average Costs of Condo Insurance in California by County | Average monthly condo insurance cost | Average annual homeowners insurance cost |
|---|---|---|
| Los Angeles County, CA | $73.60 | $882.67 |
| San Diego County, CA | $95.60 | $1,147.60 |
| Orange County, CA | $69.88 | $836.63 |
| Santa Clara County, CA | $57.33 | $688.67 |
| Alameda County, CA | $71.00 | $853.50 |
| Riverside County, CA | $76.60 | $917.60 |
| San Bernardino County, CA | $82.60 | $992.60 |
| San Francisco County, CA | $58.00 | $692.00 |
| Sacramento County, CA | $67.50 | $808.50 |
| Ventura County, CA | $64.50 | $773.75 |
| Fresno County, CA | $65.00 | $779.00 |
| Kern County, CA | $67.00 | $807.00 |
| Contra Costa County, CA | $63.00 | $756.00 |
| San Joaquin County, CA | $60.00 | $725.00 |
| Solano County, CA | $63.50 | $766.50 |
| Stanislaus County, CA | $65.00 | $776.00 |
| Sonoma County, CA | $72.00 | $864.00 |
| Monterey County, CA | $59.00 | $710.00 |
| Placer County, CA | $67.00 | $804.00 |
| Tulare County, CA | $64.00 | $772.00 |
| San Mateo County, CA | $61.00 | $731.00 |
How to Get California Condo Insurance Discounts
Each insurance provider in California has its own discount or loyalty program. Make sure that when you are comparing condo insurance quotes, you inquire about any discounts that may be available to you or your family. Normally, there are many discounts offered on California condo insurance policies. Some of these discounts are for new customers, while others are multi-policy and bundled discounts, or loyalty discounts.
| Condo Insurance Deductible | Average California Condo Insurance Costs Based off Deductible |
|---|---|
| $500 | $79 |
| $1,000 | $71 |
| $1,500 | $67 |
| $2,000 | $60 |
| $5,000 | $51 |
Getting the Best California Condo Insurance Rates
Shopping around is vital in determining if sufficient savings are obtainable for your California condo insurance policy. You can call us to determine if any other insurers can beat what you are paying. You might be amazed by the savings that are readily available. Asking a friend to refer you to their current condo insurance provider might result in a referral discount. You can increase your deductible because the higher this is, the lower the price of your insurance will be. Do make sure that your deductible is not too high because in the event of a loss, you're responsible for paying any total that costs up to the deductible. Check if you're able to bundle many types of insurance policies together at your provider, since many carriers offer discounts to customers who bundle insurance policies with them. For instance, consult the provider of your car insurance and see if they will reduce your premium if you also buy condo insurance from them. Staying with the same insurer for years could result in longevity reductions for long-time customers. Some of these discounts mentioned can save you around 10% on your premiums. Pay attention to your credit score and make sure it stays high, as insurance providers consider this when picking your condo insurance premium. Boost it or maintain a high score to find a reduced insurance premium.