Best cheap homeowners insurance in Fresno

If you own a home in Fresno, California, having a comprehensive home insurance policy could provide financial protection in the event of a covered peril. Fortunately, Fresno homeowners pay below-average rates for home insurance. The average cost of homeowners insurance in Fresno is $954 per year for $250K in dwelling coverage, which is cheaper than California’s statewide average rate of $1,084 for the same amount of coverage.

If you’re shopping for home insurance in Fresno on a budget, most insurance professionals recommend comparing quotes from various providers. To kick off your insurance shopping, we’ve created a list of the best cheap homeowners insurance companies in Fresno. Based on Bankrate’s research, you might consider getting quotes from Mercury, Allstate and USAA. These are the cheapest home insurance companies in Fresno, based on Quadrant rate data.

Best cheap home insurance companies in Fresno

The three cheapest home insurance companies in Fresno include Mercury, Allstate and USAA, according to average rate data from Quadrant Information Services. After collecting average rates for the cheapest companies, we assigned the top companies a Bankrate Score, out of 5 points, which is based on features like coverage options, financial strength, claim handling and overall customer satisfaction as rated in J.D. Power’s 2022 U.S. Home Insurance Study.

*USAA is not eligible for official ranking with J.D. Power due to eligibility restrictions

Mercury

Mercury is a California-based insurance company, which may give the company an understanding of the needs of Fresno homeowners. Mercury has the cheapest average Fresno home insurance rates on our list, with an average premium of $522 per year. For homeowners looking to customize their policy, Mercury offers a selection of add-ons including service line protection and home systems protection. Potential customers should note that Mercury does not offer online quotes for home insurance, so you must work with an agent.

Learn more: Mercury Insurance review

Allstate

Allstate may be a good insurer for homeowners looking to customize their policy. The provider stands out for its unique optional coverages, which include options like identity theft restoration, yard and garden coverage, green improvement reimbursement coverage, musical instrument coverage, sports equipment coverage and others. Allstate also offers potential discounts for new homebuyers and homes with protective devices installed. Allstate is rated below average by J.D. Power for overall customer satisfaction, indicating that some customers may not be satisfied with the service.

Learn more: Allstate Insurance review

USAA

USAA has relatively low average rates and the highest J.D. Power score on our list, but not everyone is eligible for coverage with this provider. USAA only sells insurance to eligible military members and their immediate family. USAA’s standard homeowners policies include robust coverages such as replacement cost coverage and deductible-free uniform coverage for active-duty military members. Although USAA may not have as many discounts as other providers on this list, it does offer potential savings for safe home devices, bundling and remaining claims-free.

Learn more: USAA Insurance review

Travelers

If you prioritize environmental sustainability in your Fresno home, Travelers may be a good home insurance provider to consider. The company offers a special endorsement called green home coverage, which provides additional coverage if you need to repair, replace or rebuild your home with sustainable materials after a covered loss. Plus, you can save up to five percent on your premium if your home is LEED-certified as a “green home.” Overall, Travelers offers reasonable discounts and add-ons across the board, but it’s rated near the bottom of J.D. Power’s Home Insurance Study.

Learn more: Travelers Insurance review

State Farm

State Farm is the largest home insurance company in the country, but the carrier still ranks highly for customer satisfaction with J.D. Power. State Farm has the highest average rates of the companies on our list, but its average premium of $735 is still below average for Fresno. State Farm offers a handful of discounts and coverage options, but there are fewer options for customization compared to other companies in our roundup.

Learn more: State Farm Insurance review

Home insurance coverage options in Fresno

Although home insurance is not mandatory in Fresno, your lender will likely require you to carry a valid home insurance policy until you pay off your mortgage. Even if your home is paid in full, most insurance professionals recommend carrying home insurance to provide financial protection in case of a covered peril.

When you purchase home insurance in Fresno, wildfires are usually a covered peril. However, earthquakes and floods are not covered perils under most standard homeowners insurance policies. As a result, Fresno homeowners may want to consider adding endorsements to their policy for more protection. Here are some common add-ons that may be available from many Fresno home insurance companies:

• Earthquake insurance: Fresno sits in proximity to the San Joaquin fault zone. Standard home insurance typically excludes coverage for earthquakes, so it may be a good idea to purchase a separate earthquake insurance policy. You could get earthquake insurance in Fresno as an add-on from your home insurance company or from the California Earthquake Authority.
• Flood insurance: Homes in Fresno aren’t typically considered at serious risk of flooding due to their inland location. However, home insurance policies don’t cover flood damage. If you want protection in the event of a flood, you might consider getting a separate flood insurance policy from your insurer or the National Flood Insurance Program (NFIP).
• Extended replacement cost: Extended replacement cost insurance provides higher levels of coverage if you need to rebuild your home after a covered loss. It may also provide more coverage for things like lumber and raw materials, which often become more expensive over time.

Home insurance discounts in Fresno

Fresno homeowners may be able to save further on their home insurance by taking advantage of discounts. Most carriers offer at least a handful of discounts. These may include:

• Multiline or bundling discounts: If you live in Fresno, it is likely that your household owns at least one vehicle. You may be able to get a discount on home and car insurance if you buy policies from the same carrier.
• Fire resistance discounts: Insurance companies may give you a discount on coverage if you improve your home’s fire resistance. This could include increasing your home’s defensible space by cutting back overgrown trees and dry brush and showing that your home is built with fire-resistant home materials.
• Claims-free discounts: Many home insurance companies may provide a discount to Fresno homeowners who haven’t filed any home insurance claims within a set period of time, usually three to five years.

While home insurance discounts may be a great way to lower your premium, it’s important to understand that different discounts may have different savings potential. For example, Allstate advertises that policyholders may save up to 25 percent by bundling their home and auto policies. Every home insurance company may offer different discounts, so it may be a good idea to talk to an insurance agent about how much potential discounts could realistically save you.

Frequently asked questions

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    What is the best home insurance company?

    The best home insurance company is likely different for each homeowner. The value of a home insurance company may depend on what coverages you’re looking for and your budget. To find the best insurance provider for you, most insurance professionals recommend you compare multiple insurance quotes to find the most affordable policy for your needs.
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    Do I need earthquake insurance in Fresno, California?

    Earthquakes may be top of mind for homeowners looking for California home insurance. You are not legally required to have earthquake insurance in Fresno, but it is not included in most standard homeowners insurance policies and could provide financial protection in the event of a covered peril. Speaking with a licensed insurance agent might help you evaluate if earthquake insurance is relevant for your specific home.
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    How much home insurance do I need in Fresno?

    If you own a home in Fresno, most insurance professionals recommend having enough home insurance to cover the cost of rebuilding the physical structure of your home and replacing your personal items. If you aren’t sure how much coverage you need, an insurance agent may be able to provide a recommendation. Speaking with an agent may also help you identify potential endorsements that may be beneficial for your home.

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    Methodology

    Bankrate utilizes Quadrant Information Services to analyze 2022 current rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. 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 will differ.

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    Bankrate Score

    Bankrate Scores are calculated on a five-point scale and 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.