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Best cheap homeowners insurance in Fremont

Fremont Housing
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Fremont Housing
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The average cost of homeowners insurance in Fremont, California, is $899 per year for a policy with $250,000 in dwelling coverage. Although the cost of home insurance in Fremont is relatively low, real estate costs are just the opposite. In 2019, the median property value in Fremont was $931,600, which is 3.87 times higher than the national average of $240,500.

Fremont homeowners may strongly want to consider purchasing home insurance to protect their investment. Bankrate conducted research to find the best cheap home insurance companies in Fremont based on criteria such as average 2021 rates, discounts and coverage options.

Best home insurance companies in Fremont

If you are shopping for homeowners insurance in Fremont, we recommend checking out Mercury, USAA, Travelers, State Farm and Progressive. These five providers stand out for their affordable premiums, generous discounts, impressive financial strength scores and reliable coverage.

Home insurance company Bankrate Score Average annual premium for $250K dwelling coverage J.D. Power score
Mercury 4.0 $476 N/A
Travelers 3.7 $528 881/1,000
USAA* 4.8 $541 905/1,000
Progressive 3.7 $559 879/1,000
State Farm 4.7 $606 880/1,000

*Due to membership eligibility restrictions, USAA is considered rank-ineligible by J.D. Power.

Mercury

Mercury is one of Fremont’s best home insurance companies if you are looking for a low rate. The average annual premium for a policy with $250,000 in dwelling coverage is $476, which is more than $400 less than the citywide average rate. Mercury offers basic coverage with only a few endorsements, but the company has a variety of discounts. There are savings for bundling your policies, insuring a new home, owning a home in a gated community and having a home built with fire-resistant materials.

Learn more: Mercury Insurance review

Travelers

Travelers is a good option for Fremont homeowners who are looking for a cheap home insurance company. The average premium for a policy with $250,000 in dwelling coverage is $528 per year. We also recommend Travelers to homeowners who want to customize their policy with endorsements, like contents replacement cost coverage, green home coverage or water backup and sump pump coverage. In terms of discounts, Travelers has savings for new home buyers, LEED-certified “green” homes, being claims-free, bundling your policies and installing protective devices in your home.

Learn more: Travelers Insurance review

USAA

USAA only sells home insurance coverage to active duty and retired military personnel. Fremont homeowners who are eligible for USAA may find the company’s low rates appealing, as well as its highly rated customer service and unique coverage options. USAA has optional earthquake coverage that can be added to standard policies, and military uniforms are also covered for active duty and deployed members. USAA offers discounts for being claims-free, bundling your policies and having a home security system installed in your home.

Learn more: USAA Insurance review

Progressive

Progressive’s home insurance coverage is fairly standard, but the company has a reputation for offering some of the best discounts in the industry. Fremont homeowners can get a lower premium by insuring a new home, paying in full, installing a home security system, getting a quote in advance, bundling their policies and more. Progressive also has a number of online tools, like the HomeQuote Explorer, which allows you to compare Progressive’s rates and coverages to other insurance providers.

Learn more: Progressive Insurance review

State Farm

State Farm is one of the most popular home insurance companies on the market, and it is also the largest, with 24% of the total market share. State Farm is highly rated for overall customer satisfaction and claims satisfaction in J.D Power studies, making it a potentially great option if you care about reliable customer support. In addition to low rates, State Farm also stands out for its impressive list of discounts, including a generous policy bundling discount that could help you save as much as $1,127 per year.

Learn more: State Farm Insurance review

Home insurance coverage options in Fremont

Fremont homeowners are not legally required to carry home insurance, although your lender may require it as part of your loan terms. Either way, having homeowners insurance is often extremely valuable. Without home insurance, you are financially responsible for repairing or rebuilding your home after a destructive event. Here are some of the home insurance coverages that Fremont homeowners may want to consider:

  • Earthquake insurance: Standard home insurance does not typically cover earthquake damage. To protect your home and personal items from earthquake damage, you may need to buy a separate earthquake insurance policy. Insurance agents recommend purchasing enough earthquake insurance to cover the cost of rebuilding your home.
  • Flood insurance: Flood damage is almost never covered by traditional home insurance policies. If a flood damages your home, flood insurance will pay to repair or rebuild it. You can get flood insurance through the National Flood Insurance Program (NFIP), although some insurance companies sell private flood insurance.
  • Scheduled personal property coverage: If you keep valuable items in your home, like electronics, fine jewelry, collections or art, consider purchasing scheduled personal property coverage. This optional policy extends your coverage limit for certain valuable belongings, which may otherwise have very low coverage limits.

Home insurance discounts in Fremont

Taking advantage of home insurance discounts could help you get a lower premium. Every insurance company offers different discounts, but some of the most common ones include:

  • Pay-in-full discount: If you can afford to pay your annual premium upfront and in full, you can likely get a discount on your policy.
  • New home discount: Many insurance companies will offer a lower rate for newly purchased or newly built homes.
  • Multi-policy discount: Homeowners who bundle their auto and home insurance policy with the same company can usually qualify for significant savings.
  • Roof discounts: Some insurance companies offer discounts for homes with an impact-resistant roof or a newly replaced roof.
  • Green home: If you own a LEED-certified home, you may qualify for a green home discount with your insurance company.
  • Safety equipment: Homes equipped with certain safety features, like security systems, fire extinguishers or smoke alarms, may qualify for a safety equipment discount.

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
Elizabeth Rivelli
Insurance Contributor
Elizabeth Rivelli is a contributing insurance writer for Bankrate and has years of experience writing for insurance domains such as The Simple Dollar, Coverage.com and NextAdvisor, among others
Edited by
Insurance Editor