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Best cheap homeowners insurance in Anaheim

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The average home value in Anaheim, California is $602,400. If you own a house in Anaheim, a home insurance policy can provide financial protection for what could be your largest investment.

The average cost of home insurance in Anaheim is $1,095 per year for $250,000 in dwelling coverage. This is in line with the California average of $1,084 per year and quite a bit lower than the national average of $1,383 annually. If you are looking for home insurance, you may want to consider several factors of each insurance company, including average premiums, coverages, discounts and customer satisfaction scores. Having this information might help you feel more confident in your home insurance choices.

Best cheap home insurance companies Anaheim

Anaheim residents have several choices when it comes to home insurance, but finding the best and cheapest coverage can take a bit of research. Using current premium information obtained from Quadrant Information Services, Bankrate’s editorial team analyzed the average premiums of numerous insurance providers. To narrow the list down to the five best companies, we reviewed each company’s customer satisfaction scores from J.D. Power, available coverages and discount options. Based on our research, the best homeowners insurance carriers in Anaheim are:

Home insurance company Bankrate Score Average annual premium for $250K dwelling coverage J.D. Power score
Mercury 4.0 $576 N/A
Progressive 3.7 $581 879/1,000
USAA* 4.8 $596 905/1,000
Travelers 3.7 $716 881/1,000
State Farm 4.7 $729 880/1,000

*USAA is ineligible for official ranking with J.D. Power due to eligibility restrictions

Mercury

Mercury is headquartered in California and is known for selling affordable car insurance, but the company also provides home insurance with the lowest average premium on our list. A Mercury home insurance policy includes the standard dwelling, personal property, liability and additional living expenses coverages. However, you might also be able to add extended replacement cost, which covers up to 150% of the dwelling limit if you need to rebuild your home.

Progressive

Progressive currently has eight agents available in Anaheim, which might be appealing if you like to handle your coverage needs face-to-face. If you prefer to research and buy coverage online, Progressive’s HomeQuote Explorer is a unique feature that allows you to get home insurance quotes from several carriers to compare premiums and coverages. If you are looking for a company that offers several discounts, Progressive might be a good choice. You may be able to earn a discount for getting a quote before your old policy expires, bundling your home coverage with your auto policy, having home safety features installed and more.

Learn more: Progressive review

USAA

USAA consistently receives high scores from J.D. Power, although it is not eligible for official ranking since it only sells insurance to military members, veterans and their immediate families. Along with the standard home coverages you might expect, USAA provides options to purchase coverage for floods and earthquakes, both of which may be a concern in California. Although the company does not offer as many discounts as some providers, its average rates are the second lowest on our list.

Learn more: USAA Insurance review

Travelers

Travelers home insurance is a good option for new homeowners who are learning as they go. The Travelers website features a library of resources on how insurance works, including short, helpful videos. Aside from the helpful resources, Travelers offers an extensive list of optional home insurance coverages. Optional coverages include water backup and green home coverage, which pays for eco-friendly replacements or rebuilding after a covered loss.

Learn more: Travelers Insurance review

State Farm

State Farm offers homeowners in Anaheim a combination of claim-filing ease and speed, thanks to a large network of local agents and a full-featured mobile app and website. These factors may be attractive to some homeowners who value easy claims processes and digital tools. In addition, State Farm’s discounts could make it possible to buy a quality, cheap home insurance policy.

Learn more: State Farm Insurance review

Home insurance coverage options in Anaheim

Home insurance is typically not required unless you have a mortgage. However, having home insurance does not mean you have coverage for all scenarios. Floods, earthquakes, mold and sewer backups are often not automatically covered by home insurance policies. Some optional coverages Anaheim homeowners may want to consider are:

  • Flood insurance: Roughly 600 Anaheim properties on over 544 acres are in a floodplain. If you do not have flood insurance, you may be at financial risk if your home is damaged or lost due to flooding. Flood insurance is typically purchased as a separate policy.
  • Earthquake insurance: Standard homeowners policies do not typically include earthquakes as a covered peril. You may be able to add earthquake coverage as an endorsement, but you may also need to purchase a separate policy. The California Earthquake Authority provides coverage and information regarding earthquake insurance.
  • Green rebuilding coverage: Some carriers offer optional coverage that allows you to use green building materials to replace or rebuild your property after a loss.

Since every homeowner is different, talking to a licensed agent could help you determine the most appropriate coverage options for you.

Home insurance discounts in Anaheim

Home insurance in Anaheim costs an average of $1,033 per year. Although that is lower than the average cost of home insurance in the U.S. as a whole, finding ways to save on your premiums could free up money for other expenses. Some discounts that Anaheim residents might be able to take advantage of are:

  • Bundling discounts: Buying homeowners insurance and car insurance from the same carrier could reduce your premiums on both policies.
  • Payment discounts: Setting up automatic monthly payments or paying in full for your home policy may qualify you for a discount. However, if your home insurance is paid from an escrow account within your mortgage, you likely will not qualify for these discounts.
  • Claims-free discounts: Although your home insurance is designed to protect your finances if your home is damaged or destroyed, filing a claim might increase your premiums. If you have avoided filing claims, you might get a discount on your policy.
  • Safety: A home equipped with safety devices such as a security system, deadbolt locks or carbon monoxide and smoke detectors could earn you a discount.
  • New home: You may be eligible for greater savings if you purchase a newly constructed home, which is typically a home that was built within the last two years.

Every company offers different discounts. You can often research discounts on a company’s website, or you could call and talk to a representative to see if you qualify for additional savings opportunities.

Frequently asked questions

Methodology

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 will differ.

Bankrate Score

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.

Written by
Cynthia Paez Bowman
Personal Finance Contributor
Cynthia Paez Bowman is a former personal finance contributor at Bankrate. She is a finance and business journalist who has been featured in Business Jet Traveler, MSN, CheatSheet.com, Freshome.com and TheSimpleDollar.com.
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