Best cheap homeowners insurance in Long Beach

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The median property value for a home in Long Beach, California is $600,700 and roughly 40% of Long Beach residents are homeowners. To insure a home with $250,000 in dwelling coverage, the average annual rate for the city is $1,080, which is lower than the national average homeowners insurance cost of $1,312 per year.

With high costs of living and property values, Long Beach residents can save on insurance by finding the best cheap home insurance companies offering coverage in the area. We analyzed the top insurance companies and compared rates, coverages, discounts, third-party rankings and financial strength to help you make an informed decision on finding home insurance coverage in Long Beach.

Best cheap home insurance companies Long Beach

After comparing the most popular homeowners insurance carriers in Long Beach, the five listed in the table below were found to have the most affordable rates with good coverage options, discounts available, financial strength and third-party rankings. Rates are based on the average cost for annual premiums for $250K in dwelling coverage.

Home insurance company Average annual premium for $250K dwelling J.D. Power Score
Mercury $503 N/A
USAA* $511 889/1,000
Progressive $582 797/1,000
State Farm $602 829/1,000
Travelers $615 803/1,000

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

Mercury

Mercury Insurance offers auto and home insurance for Long Beach residents. Bundling your car and home with Mercury may save you up to 15% on home and almost 15% on your auto insurance. Homeowners can also add additional coverages for home systems, service lines and identity theft.

Though Mercury did not make it into the J.D. Power 2020 U.S. Home Insurance Study, it is the eighth largest home insurer and sixth largest auto insurer in California. With the cheapest average rates for home insurance coverage on the list, Mercury Insurance may be an affordable option for Long Beach homeowners.

USAA

Offered to past and present military, their spouses and children, USAA offers auto and home insurance in all 50 states and Washington, D.C. The insurer is the sixth largest in California and has rates slightly higher than Mercury for home insurance in Long Beach.

USAA offers home sharing coverage if you rent out a room or your entire home and homeowners can also purchase earthquake coverage. Insuring your car with USAA will net you up to 10% savings on the homeowners insurance and an additional 10% discount if you have not filed a home insurance claim in five or more years.

Progressive

The best way to know if you are getting a good deal on cheap homeowners insurance in Long Beach is to shop around for quotes. Progressive makes it easier with HomeQuote Explorer, which helps you get multiple quotes at once so you can do a side by side comparison of coverages, discounts and costs.

Long Beach homeowners who bundle home and auto with Progessive can take advantage of a single deductible if one event causes damage to both. Going paperless, paying in full and getting a quote 10 days in advance of your current policy expiration are just a few of the discounts offered by Progressive.

State Farm

State Farm is the #1 home and auto insurer in California, even though its rates are not the cheapest. State Farm makes up for it with superior financial strength to pay claims and above average third-party rankings. Switching to State Farm and bundling car and homeowners can save up to $965 per year with the company’s generous bundling discount.

Travelers

Travelers homeowners insurance offers the standard coverages expected in a home insurance policy, plus a few extras if needed. Additional coverages include green home coverage, special personal property, personal articles floater, sewer backup, identity fraud and additional replacement cost protection. Travelers also has its own Alexa Skill for policyholders to create reminders, check their accounts and get home safety tips.

Other Long Beach home insurance coverages

While homeowners insurance is usually not a requirement, it is still a great way to protect what might be your biggest investment and asset. Choosing the right coverages to protect your Long Beach home is important, so you know you are putting your money to good use if you have to file a claim. The following homeowners insurance coverages are recommended for Long Beach homeowners:

  • Dwelling coverage: If your home is damaged by a covered peril, dwelling coverage will pay to repair or rebuild the structure of your home. Including guaranteed replacement cost will ensure it is repaired or rebuilt in full without depreciation for age or normal wear and tear.
  • Earthquake coverage: This optional coverage is not always offered as an add-on from homeowners insurance companies, it may only be available as a separate policy. Living in California, Long Beach residents are at high risk for earthquakes, which can easily cause a home to be a total loss. Without earthquake insurance, there is no coverage for a homeowners loss because of earthquake damage.
  • Personal property coverage: Coverage for personal property will pay up to the policy limits to replace your belongings if they are damaged in a covered loss. Actual cash value includes depreciation while replacement cost will replace old and worn items with new, so consider which is best for your belongings when purchasing homeowners insurance.

Home insurance discounts in Long Beach

By taking advantage of discounts on home insurance, Long Beach homeowners can get cheap insurance without sacrificing coverage. Discounts with a big impact on homeowners rates include:

  • Multi-policy: Bundling home and auto with the same insurance company is often the largest percentage discount offered on homeowners policies.
  • Protective devices: Having a burglar or fire alarm keeps your home in Long Beach safe and it may also save you on your homeowners insurance policy.
  • Sprinkler system: Installing an automatic sprinkler system reduces the damage to your home in a fire and may also keep homeowners premiums low.
  • New purchase: Even if your home is not newly built, as long as it is new to you, home insurers may extend a new purchase discount to your homeowners insurance.

Other discounts for Long Beach homeowners insurance include paying in full, purchasing a new construction home, having automatic utility shut offs and having impact resistant features like UL-approved roofing and hurricane shutters are more ways to save. Not all home insurance companies offer the same discounts, so shopping around may be a good idea if you are looking for cheap homeowners insurance.

Frequently asked questions

What is the best home insurance company?

Finding the best home insurance company comes down to understanding what is most important to you. Is it price, coverage, discount options, financial stability of the company, third-party ratings or a combination? Shopping around for homeowners coverage can help you decide which is the best home insurance company with features that are most important.

How much does home insurance in Long Beach cost?

We found the average cost per year for homeowners insurance in Long Beach for $250,000 in dwelling coverage is $1,080. The rate you will pay is determined by your claims history, coverage needs and specifics about the home.

How much home insurance do I need in Long Beach?

You should have enough dwelling and personal property coverage to rebuild your home if it were a total loss. If you are not sure how much homeowners coverage you need, speak with a licensed insurance agent who can help you determine the amount of coverage.

Methodology

Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and homeriers 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.

Rates are determined based on 2020 Quadrant Information Services data.

Written by
Mandy Sleight
Insurance Contributor
Mandy Sleight has three years of experience writing for insurance websites such as Bankrate.com, MoneyGeek and The Simple Dollar, and has been a licensed insurance agent since 2005. Mandy writes about auto, homeowners, renters, life insurance, disability and supplemental insurance products.