The Bankrate promise
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation of . Our content is backed by Coverage.com, LLC, a licensed entity (NPN: 19966249). For more information, please see our .
California’s cost of living is the third-highest in the country, with housing costs double the national average. Bakersfield homeowners may be able to save money by finding the best, cheap homeowners insurance in the city to protect their homes. Bankrate has evaluated California home insurers by market share to help you find the best, cheap insurer for your Bakersfield home. We compared each company based on several criteria, including the average insurance premium, coverage, discounts and company attributes like financial strength and third-party rankings for customer satisfaction. Bakersfield homeowners can use this information to help find the cheapest insurance company that also meets the criteria most important to them in an insurer.
Best cheap home insurance companies Bakersfield
The top three best, cheap home insurance companies in Bakersfield are ASI Progressive, USAA and Mercury, according to our assessment. The 2022 average cost of home insurance in Bakersfield is $976 for $250k in dwelling coverage. Bankrate has created the Bankrate Score, which can help you find the best carrier option for your homeowners needs.
The Bankrate Score is based on a five-point scale, consisting of several factors, like quoted annual premiums, available coverage, discount opportunities, affordability, accessibility features, third-party customer satisfaction scores and the company’s financial strength. Each of the best, cheap home insurance providers selected by Bankrate has average annual premiums below the average for Bakersfield, making them a great option for those looking for affordable rates with a great carrier. Consider getting several home insurance quotes from the carriers listed below to compare rates and find the best, cheap home insurer for your Bakersfield home.
|Home insurance company||Bankrate Score||Average annual premium for $250K dwelling coverage||J.D. Power score|
*Not officially ranked with J.D. Power due to eligibility restrictions
As one of the largest insurance providers in the U.S. by market share, ASI Progressive is able to offer the cheapest rates for home insurance in Bakersfield. This provider also offers a variety of discounts you may be eligible for, which can help with premium affordability. ASI Progressive offers standard home insurance coverage with the option to include water backup coverage. Though it ranked just above average in the 2022 J.D. Power Property Claims Satisfaction Study, it received the lowest Bankrate Score in our Bakersfield list of 3.7.
Learn more: ASI Progressive Insurance Review
USAA provides insurance policies to active service members, veterans and immediate family members. If you meet the eligibility criteria, USAA offers you the standard homeowners coverages, plus optional add-ons — such as identity theft and home-sharing coverage. USAA scores highly in the J.D. Power satisfaction study, though its membership restriction makes it ineligible for ranking. With affordable rates, impressive customer satisfaction and other positive factors, it is no surprise that USAA earned the highest Bankrate Score on our Bakersfield list of 4.8.
Learn more: USAA Insurance Review
This California-based insurance company has dedicated agents ready to assist Bakersfield homeowners. With rates just a few dollars more than ASI Progressive and USAA, Mercury is another of the best cheap options in Bakersfield. Homeowners can choose to further protect their home with coverage for home systems, service lines and identity theft. As a regional insurer, Mercury did not make the top rankings list with J.D. Power for customer satisfaction. However, it still receives a 4.0 Bankrate Score, making this small insurer a top contender for the cheapest rates in Bakersfield.
Learn more: Mercury Insurance Review
Though Allstate has the second-highest average premium in our cheap list, it still falls well below the Bakersfield average. With Allstate, homeowners can tailor their coverage with optional add-ons, such as home-sharing, identity theft, scheduled personal property, business property and coverage for hobbies, like sports, gardening and musical instruments. However, Allstate ranked below the industry average for property claims satisfaction and received the second-lowest Bankrate Score of 3.9 once all factors were weighed.
Learn more: Allstate Insurance Review
State Farm is now the largest provider of insurance in the U.S. by market share and continues to innovate even 100 years after its inception. Potential customers and existing ones can obtain quotes, buy a policy, make changes, file claims through the mobile app or online or work with one of the 19,000 agents nationwide. State Farm offers standard coverage options with a few ways to customize but has just a few discounts to make premiums more affordable. However, it received a 4.7 Bankrate Score and scored above average in J.D. Power’s study.
Learn more: State Farm Insurance Review
Home insurance coverage options in Bakersfield
Homeowners insurance is not required by law like auto insurance, but most lenders do require this coverage if you are financing your home. A homeowners insurance policy provides financial protection if you have damage from covered perils and is one of the best ways to protect the investment of your home. Depending on your desired level of financial protection and the value of your home, you may choose to have these coverage types added or increased in policy limits:
- Water backup: This optional coverage pays if your sump pump fails or overflows or if your sewer lines or drains back up, causing water to enter the home. Homeowners should consider this coverage if they want this added protection for their Bakersfield home.
- Identity theft: Bakersfield residents could incur unexpected costs if they find themselves victims of identity theft. With this optional coverage, your home insurer will work with you to help pay for costs incurred and help you get your identity back.
- Earthquake coverage: Standard homeowners policies do not include earthquake coverage. This would provide additional coverage if your home is damaged due to an earthquake.
Home insurance discounts in Bakersfield
Although average rates for homeowners insurance in Bakersfield are well below the national annual average of $1,383, discounts are available that may help homeowners save even more on their policies. Depending on the providers you include in your quote comparison, you may be able to get savings from discounts such as:
- Paperless statements: Switching to paperless statements can help you save on your premiums. In addition to lower rates, it is one less monthly bill taking up space in your mailbox.
- Bundling: Purchasing your homeowners policy through the same carrier as your auto insurance is an easy and effective way to save on both policies.
- New home construction: If your home was built within the last few years, carriers might provide a discount for owning a brand new home.
Though discount savings vary by carrier, most often, the most impactful discount you can apply to your home insurance is the bundling discount. It can also make handling your insurance easier with all your policies handled by the same provider. Other discounts that may have a big impact on your home insurance premium are claims free and new home construction.