Homeowners Insurance San Francisco | HO3 Insurance California (2024)

FAQs

Which homeowners insurance company has the highest customer satisfaction? ›

Select a zip code to see non-renewed policies, total policies and percent of non-renewed policies. Last month, State Farm issued a written statement explaining its decision to no longer write new policies for new California homes and to end coverage for about 50,000 existing California customers.

Average Cost of Homeowners Insurance in San Francisco

San Francisco homeowners pay an average of $1,121 per year for homeowners insurance, which is lower than the national average of $2,728. California residents enjoy below-national-average rates due to the state's moderate weather.

Living in a high-risk location, having hazardous home features, home maintenance issues, your home's history of insurance claims, and more can be reasons an insurance company may determine a house to be uninsurable.

State Farm, California's largest home insurer, submitted a more recent filing just two weeks ago seeking an average increase of 30% for homeowners insurance, 52% for renters and 36% for condominium owners.

State Farm won't renew homeowners coverage for 72,000 California homes and apartments - CBS News.

The companies have cited high inflation, catastrophe exposure, reinsurance costs and the limitation of decades-old insurance regulations as reasons for scaling back policies in the state. State Farm reported a net loss of $6.3 billion in 2023 compared to a net loss of $6.7 billion in 2022.

Travelers is one of the most expensive companies in our rating for which we have sample data. Compared to others, it also doesn't have as many listed discounts. The discounts available are relatively common ones like bundling policies, having protected devices installed in your home, and being claim-free.

Why is the California Fair Plan so expensive? ›

Contrary to popular belief, the CA FAIR Plan is not a government-backed program: it is financially supported by California's private home insurance companies, not taxpayers. Recent turmoil in the California home insurance market has left the FAIR Plan overburdened, strained and increasingly expensive.

The average cost of homeowners insurance in California is $1,405 a year or $117 a month, well below the national average annual rate of $2,601. California home insurance rates vary by location; home insurance rates in Los Angeles are above average, while homeowners in San Jose pay lower-than-average rates.

Avoid admitting fault or underestimating damages as this might lead to lower compensation or even denial of your claim. Honesty is crucial when dealing with an insurance adjuster, so avoid providing false information which can lead to serious consequences like claim denial or legal repercussions.

If you are turned down or non-renewed by your current insurance company, or are otherwise in need of coverage, you may apply for coverage under the FAIR Plan through an agent or broker licensed to sell property insurance and registered with the California FAIR Plan.

If your insurer nonrenewed or cancelled your policy because your house needs repairs or you filed too many claims, you may have difficulty finding an insurance company willing to insure your home.

State Farm is the largest home and auto insurance company in North America, capturing 17.79 percent of the home market and 18.31 percent of auto.