Why is home insurance so expensive in San Francisco?

Due to the increased commonality of natural disasters involving fires, high winds, and earthquakes, San Francisco homeowners, especially those fire-prone areas and along the coastline, may have higher-than-average home insurance premiums. When insurance companies take on increased risk, as they do in disaster-prone areas of San Francisco, they increase their chances of needing to pay out customers when disaster strikes. There are ways, though, that you can cut home insurance costs, even if you live on the water. Use Insurify to compare premiums in your area.

How long does a home insurance claim take in San Francisco?

Short answer: it depends. Of course, in times of crisis, like wildfires or earthquakes, many of your neighbors will also be filing claims with their insurance companies, crowding the systems, and slowing down the claims process. The amount of time it takes to file a claim in San Francisco will vary from case to case. To find the best home insurance companies in your area, use insurify to compare reviews and quotes.

Does USAA insure homes in San Francisco?

Yes, USAA insures home in San Francisco. However, policyholders must be active military members, veterans, or the family members of those in the armed forces.

San Francisco, CA Homeowners Insurance Quotes (2023)

San Francisco, CA Homeowners Insurance

The Bay Area. Iconic. Beautiful. Expensive!

Home to nearly 8 million residents, the Northern California cluster of cities and towns including San Francisco, Oakland, and other cities, has some of the most expensive real estate in the nation. Home to one of the largest individual insurance markiets in the country, shopping for homeowners insurance in the north of the Golden State can be a headache-inducing mirage of constant radio and television ads. Let’s clear up a few things about home insurance in San Francisco, Oakland, and the Bay Area.

Insurify can help you get the best and cheapest homeowners insurance in your area in just a few minutes, no matter your background, profile, or insurance needs.

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Cheapest Home Insurance Companies in San Francisco

For homeowners in San Francisco, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.

To simplify comparing companies, Insurify has analyzed rates from top insurance providers in San Francisco. The following are the best insurance rates from carriers that offer homeowners insurance in San Francisco.

Cheapest Companies	Quotes The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.
Mercury	$484
Stillwater	$489
Allstate	$497
USAA	$702
Farmers	$761

How to Find Cheap Home Insurance in San Francisco

Purchasing a home will likely be one of the largest financial investments of your lifetime. With that investment, inevitably, comes risk. However, there are steps homeowners can take to minimize risk and protect their investment, including finding the right home insurance policy.

The first step to protecting your property is homeowners insurance. Though not required by law, home insurance provides financial liability for your property and belongings from natural disasters, vandalism, or theft. Different coverage levels are available for different property types, locations, and other factors.

Keep reading for a full guide on San Francisco home insurance.

Cheapest Home Insurance in San Francisco by Company

Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in. Our free home insurance comparison tool allows you to find the best policy for the best rate fast. And your information stays private and protected.

The price of homeowners insurance varies greatly from city to city. The following quotes are general estimates of annual home insurance premiums throughout San Francisco, insurance companies offer different coverage levels and some even offer bundling options for your home and auto insurance or life insurance policies. Depending on chosen coverage options, dwelling coverage levels, and insurance services a homeowner has chosen, the average cost of policies will vary.

As of 2021, the average home insurance premium in California costs $823 annually, and the median home value in San Francisco is $1,195,000.

For the most accurate quote estimate, use Insurify to compare all of your choices in one place.

Average Home Cost in San Francisco The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.	Average Annual Insurance Premium in San Francisco The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.
$1,195,000	$823

Average Home Cost in San Francisco

Average Annual Insurance Premium in San Francisco

$1,195,000

$823

Average Annual Home Insurance Premium in San Francisco by Company

Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage

$1000 deducible

Mercury

$484

Stillwater

$489

Allstate

$497

USAA

$702

Farmers

$761

Hartford

$765

Nationwide

$800

MAPFRE

$889

Chubb

$1,785

Home Insurance in Bay Area by City and Neighbourhood

Like property costs, home insurance varies in price from city to city, and even from neighborhood to neighborhood. Pricing is determined on ZIP code-specific variables such as the volume of claims filed nearby, crime rates, property costs, and risk variables such as natural disaster frequency. Even your specific neighborhood may determine if you pay more or less on our annual premiums.

Buying and insuring a home comes with loads of unexpected costs and new living expenses. How can you be expected to pay all of these costs—vital as they are—and still provide for you and your family?

Rates in the Bay Area can be relatively high or low compared to the national average—it all depends on which neighborhood you live in, though, overall, San Francisco has some of the most expensive real estate in the country. Here are the most and least expensive towns in the Bay Area to buy and insure a home. Average rates within these cities tend to increase relative to property cost. In wildfire -, windstorm – or earthquake-prone areas, rates are often higher.

Home Insurance Coverage Types in San Francisco

There are several types of home insurance. Specific terms of insurance policies may vary by state, but in general, the standard policy types are as follows:

The simplest and least comprehensive type of homeowners insurance

Provides coverage for a handful of potential problems including
- natural disasters (storms, fires, wind lightning, volcanic eruption),
- explosions,
- theft,
- damage from vehicles,
- or civil commotion.
Broad form homeowners insurance policies includes all basic form coverage, plus
- protection from falling objects,
- damage from weight of ice, snow, or sleet,
- freezing of household systems including HVAC and pipes,
- sudden and accidental damage to pipes and other household systems or from artificially generated electrical current,
- accidental discharge or overflow of water or steam,
- sudden and accidental damage
HO-2 policies typically cover both dwelling protection and personal property

In some cases, Broad Form coverage may also include liability coverage. However, they still only cover the specific damages listed in the policy
The most common form of homeowners insurance is known as “special form” policies

While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy) HO3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents
HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.

Tenant’s form policies typically cover all the same dangers as HO-2 policies.

These policies include personal property coverage and liability coverage, but don’t cover the physical structure of the house.

Some HO-4 policies may also include loss of use coverage for the tenants.
Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policy.

The biggest difference between HO-3 and HO-5 policies is that most HO3 policies are “actual cash value” policies, whereas typically HO-5 policies are “ replacement cost value” policies.

An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).

HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property such as jewelry and artwork.
Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.

They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.

These policies also include personal property and liability coverage and may include loss of use coverage.
If you own a mobile home or manufactured home, you likely have an HO-7 policy.

Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.

Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well.

HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them.

HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.

Owners of registered landmarks are typically forbidden from updating HVAC, electrical and other parts of the home to enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.

For more detailed California city level guides, check out these below.

Natural Disasters and Home Insurance Coverage

As Northern California residents know all too well, natural disasters can be catastrophic to property and livelihoods. In San Francisco, especially, homeowners and renters alike face earthquakes and increasing wildfire risk each season. Earthquake insurance? Flood insurance? Wildfire protection? Additional coverage?! What’s covered and what’s not when it comes to homeowners policies and natural disasters in San Francisco? Damage due to uncontrollable circumstances may still be covered- your level of coverage will determine how much your property is actually protected through your policy.

With such risk, home insurance providers often charge higher premiums to cover potential disasters like the recent wildfires. That being said, with the right tools, you may still be able to find competitive home insurance rates in your area. To compare the best homeowners insurance companies, use Insurify to compare home insurance quotes all in one place.

How to Find the Cheapest Home Insurance in San Francisco and the Greater Bay Area

Just like groceries or clothes shopping, you can find a good bargain on home insurance, without sacrificing sufficient coverage to protect your investment. Protect your home from water damage to burglars, and everything in between. With a little research and the right tools, you’ll be on your way to big savings. California homeowners don’t need to break the bank to protect their home and personal belongings. Select a coverage amount that works best for your family.
Use Insurify to compare free home insurance quotes for your property in San Francisco.

Frequently Asked Questions

Due to the increased commonality of natural disasters involving fires, high winds, and earthquakes, San Francisco homeowners, especially those fire-prone areas and along the coastline, may have higher-than-average home insurance premiums. When insurance companies take on increased risk, as they do in disaster-prone areas of San Francisco, they increase their chances of needing to pay out customers when disaster strikes. There are ways, though, that you can cut home insurance costs, even if you live on the water. Use Insurify to compare premiums in your area.
Short answer: it depends. Of course, in times of crisis, like wildfires or earthquakes, many of your neighbors will also be filing claims with their insurance companies, crowding the systems, and slowing down the claims process. The amount of time it takes to file a claim in San Francisco will vary from case to case. To find the best home insurance companies in your area, use insurify to compare reviews and quotes.
Yes, USAA insures home in San Francisco. However, policyholders must be active military members, veterans, or the family members of those in the armed forces.

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