Best cheap homeowners insurance in Bakersfield
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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.
Frequently asked questions
The best home insurance company for you may be found by reviewing customer service ratings, the financial strength of a carrier, coverages and discounts and digital tools. Bankrate has reviewed several companies based on these variables to assist in your selection process. You can also get quotes from several carriers to compare rates and coverage options to help you find the best home insurer for you.
The average cost of a homeowners policy in Bakersfield, California, is $976 per year for $250,000 in dwelling coverage. However, your rates may be more or less expensive depending on numerous factors, including your specific ZIP code, the age of your home and the risks present on the property.
Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
These are sample rates and should be used for comparative purposes only. Your quotes may be different.
Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for homeowners to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support.
To determine how well the best home insurance companies satisfy these priorities, third-party agency ratings from J.D. Power, AM Best, S&P, NAIC, and Moody’s had the most impact on the companies’ Bankrate Scores. As price is a common consideration for homeowners, we analyzed quoted premiums based on 40-year-old male and female homeowners with a home policy with $250,000 in dwelling coverage. This profile, assessed across nearly 35,000 ZIP codes in the U.S., provided a basis on which homeowners may compare each provider.
While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores.