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Best cheap home insurance in San Diego in 2024

Updated May 16, 2024
Mercury, Auto Club and Liberty Mutual are some of the best home insurance options in San Diego.
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This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

The best home insurance companies San Diego

Across California, homeowners are struggling to secure a home insurance policy. San Diego is no exception. State Farm — the largest home insurance company in California — announced that on top of no longer accepting new policies, it will also drop around 30,000 home insurance policies in the Golden State beginning summer 2024. The decision is expected to disproportionately affect San Diego homeowners, with some ZIP codes expected to see more than 50 percent of policies dropped.

With all of the turmoil in the California home insurance market, it can be extra challenging to find not just any home insurance company, but one that offers robust policy options, strong customer service scores and high third-party financial strength ratings. Bankrate can help. Our insurance editorial team did some digging into the local insurance market and found that Mercury, Auto Club and Liberty Mutual offer some of the best home insurance in San Diego.

Best for homeowners on the FAIR plan

Bankrate Score

Rating: 4.3 stars out of 5
4.3

Avg. annual premium

$839

$300K dwelling coverage

JD Power

--

Not rated

Why Mercury made our list: Mercury offers a range of endorsements to personalize your home insurance, such as home systems protection, service line coverage and identity management services. Mercury also offers a wide variety of discounts, so you might be able to save on your premium by bundling auto and home insurance policies, installing protective devices, belonging to a homeowners association and more. Mercury is not rated in the J.D. Power 2023 U.S. Home Insurance Study, likely because it is a smaller insurer that only writes policies in 11 states.

Why Mercury may be the best for homeowners on the FAIR plan: Due to the county’s high risk of fire damage, an increasing number of San Diego homeowners have found themselves on the FAIR plan. From 2018 to 2022, the number of San Diego homes insured by the FAIR plan tripled. Mercury offers a difference in conditions endorsement, which can help fill in some of the coverage gaps left by the FAIR plan like coverage for theft, water leaks, service line coverage and liability protection.

Scores and Ratings
Bankrate Score 4.3
AM Best score A
Read full review
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Best for AAA members

Bankrate Score

Rating: 0 stars out of 5
0

Avg. annual premium

$1,044

$300K dwelling coverage

JD Power

--

Not rated

Why AAA made our list: As far as home insurance policies go, Auto Club (AAA) are fairly standard. However, we included it on our list because of its A+ (Superior) financial strength rating from AM Best and because, thus far, the insurer has not taken steps to limit coverage in the state. It also offers a long list of discounts to help homeowners save on their policies, like up to 37 percent savings for homes built within the past nine years.

Why AAA may be the best for AAA members: With coverage options in San Diego limited, knowing that AAA is still actively writing policies in the area can be a major plus for some homeowners. AAA’s home insurance policies cover the basics and some extras, but it may not be worth joining AAA solely for its home insurance. Card-carrying members, though, may want to get a quote.

Scores and Ratings
Bankrate Score Not rated
AM Best score
Read full review
Plus Collapse
Best for discounts

Bankrate Score

Rating: 0 stars out of 5
0

Avg. annual premium

--

$300K dwelling coverage

Not available

JD Power

789/1,000

Why Liberty Mutual made our list: Liberty Mutual is the fifth-largest home insurance company in California, writing just over 4 percent of all policies in the state. It is an established name in the insurance industry, with over a century of experience. Liberty Mutual writes car, renters, business and pet insurance, which could make it an appealing option for homeowners looking to handle all of their insurance needs with one company.

Why Liberty Mutual may be best for discounts: On its website, Liberty Mutual advertises 11 different discounts for extra savings. Discounts are grouped into three categories: homeowner-based, home-based and policy-based.

Scores and Ratings
Bankrate Score Not rated
J.D. Power 789/1,000
AM Best score A
Read full review
Plus Collapse
Bankrate logo

Bankrate's trusted insurance industry expertise

Read our full methodology

Bankrate knows that finding a reliable San Diego home insurance company can be extra challenging. That’s why our insurance team ensured that the companies we selected as the best are still writing new policies in the states with minimal restrictions. To ensure that our average rate data is as fresh as possible, we update them on a monthly basis.

46

years of industry experience

122

carriers reviewed

34.5K

ZIP codes examined

1.2M

quotes analyzed

The cheapest home insurance companies in San Diego 

San Diego was recently named the city with the highest cost of living, beating out other California cities like San Francisco, Santa Barbara and Los Angeles. As such, San Diego homeowners may be looking to spend less on their home insurance. Based on our analysis of average rate data from Quadrant Information Services, the cheapest home insurance companies in San Diego for a $300K dwelling policy are USAA, Armed Forces, Mercury, Auto Club and Nationwide. We’ve also found the companies with the cheapest rates for other dwelling limits in case you need higher coverage limits.

Caret Down
Company Average monthly premium* Average annual premium*
$55
$663
Armed Forces
$70
$838
$70
$839
Auto Club
$87
$1,044
*Average rates for policies with $300K in dwelling coverage
Company Average monthly premium* Average annual premium*
$59
$663
Armed Forces
$81
$838
$79
$839
Auto Club
$102
$1,044
Company Average monthly premium* Average annual premium*
$67
$802
$101
$1,215
Armed Forces
$104
$1,244
$125
$1,499
Company Average monthly premium* Average annual premium*
$103
$1,230
$160
$1,919
Armed Forces
$177
$2,124
$205
$2,456

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Advertising disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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How much is home insurance in San Diego?

The average cost of home insurance in San Diego is $1,286 per year for a $300K dwelling policy. To compare, the average cost of home insurance in California is $1,452 per year, and the national average is $2,153 per year.

If the average home insurance cost in San Diego seems a little low given the state’s high earthquake and wildfire risk, that’s because it is. It’s a complicated issue, but in a nutshell, current California state regulations for insurance pricing prevent insurance companies from raising home insurance rates to accurately reflect the risk of insuring a California home. That, among other things, is part of what has driven so many of the major insurance players out of the state and left homeowners across the state scrambling to find coverage. However, recently passed legislation and insurance reforms may help remedy the broken market and encourage providers to return to the state.

San Diego rates by home age

The median year of construction for San Diego homes is 1979, according to data from the U.S. Census, and 16 percent of all San Diego homes were built after the year 2000. When your home was built can influence your home insurance costs in San Diego. In most cases, older homes cost more to insure, but that may not be true for every provider. Below, we’ve compiled average rates from the five cheapest home insurance companies in San Diego for a couple of different home ages.

Company 1959 1982 1992 2010 2020
$802
$828
$809
$728
$597
Armed Forces
$1,142
$1,208
$1,238
$1,092
$620
$906
$1,086
$1,134
$1,109
$659
Auto Club
$1,074
$1,113
$1,093
$1,044
$905
$1,421
$1,431
$1,448
$1,340
$888

San Diego rates by deductible

A higher home insurance deductible typically results in a lower premium. Your deductible is the amount of financial responsibility you have after you file a claim with your insurance company: The larger the amount of financial responsibility, the lower your rate will be in most cases. You can see rates for different deductible amounts for the five cheap home insurance companies in San Diego in the table below.

Company $1,500 Deductible $2,000 Deductible $5,000 Deductible
$613
$613
$541
Armed Forces
$838
$724
$657
$792
$670
$555
Auto Club
$1,004
$977
$923
$1,032
$948
$746

Related content:

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze May 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on married male and female homeowners with a clean claim history, good credit and the following coverage limits:

  • Coverage A, Dwelling: $300,000, $350,000, $450,000, $750,000
  • Coverage B, Other Structures: $30,000, $35,000, $45,000, $75,000
  • Coverage C, Personal Property: $150,000, $175,000, $225,000, $375,000
  • Coverage D, Loss of Use: $60,000, $70,000, $90,000, $150,000
  • Coverage E, Liability: $500,000
  • Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible, a $500 hail deductible and a 2 percent hurricane deductible (or the next closest deductible amounts that are available) where separate deductibles apply.

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Year built: Rates were calculated based on the following years built for homes and assigned to our homeowners: “1959, 1982, 1992, 2010, 2016 (base) and 2020.”

Bankrate Score

Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlight where they fall short.

5
Rating: 5 stars out of 5
Overall Score
  • Cost & ratings 50%
  • Coverage & savings 30%
  • Support 20%
  • Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech  and the NAIC, were analyzed.
  • Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
  • Tier 3 (Support): To encompass the many ways a home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.
Written by
Natalie Todoroff
Writer, Insurance

Natalie Todoroff is an insurance writer for Bankrate, prior to which she wrote for a popular insurance comparison shopping app. She has a Bachelor of Arts in English and has written over 800 articles about insurance throughout her career.

Edited by Editor, Insurance