We looked at home insurance quotes from companies across the city. And if you want the cheapest homeowners insurance in Richmond, CA there’s Stillwater and Tokio Marine America. For $365 to $517 a year, you can get up to $400,000 coverage for your home.
The best deals don’t stop here, though. There are plenty other offers from top providers, all with great prices.
Where to Find Cheap Homeowners Insurance in Richmond, CA
The annual home insurance in Richmond, CA averages to $1,026. Although $40 more than what the average Californian spends, it’s still $147 less than the average American spending. Note that these “averages” do not represent the actual rates offered by companies. Rather, they provide an estimate of how much you might spend on home insurance. Depending on your choice of provider, you can spend more or less than the 1average cost of home insurance.
Since you’re looking for cheap home insurance in Richmond, CA we rounded up these top 10 providers:
- Tokio Marine America ($425.50)
- Allstate ($547.50)
- Stillwater Ins Co. ($553)
- Pacific Specialty ($569)
- Mercury Ins Group ($636.25)
- Travelers ($651.50)
- CSE Safeguard ($681.50)
- Stillwater Prop & Cas Co. ($685.75)
- California Capital ($709.75)
- QBE ($735.25)
| Company | Annual rate for a new house & $400k coverage | Annual rate for 7-15 yr house & $400k coverage | Annual rate for 7-15 yr house & $300k coverage | Annual rate for 26-40 yr house & $300k coverage | Average |
|---|---|---|---|---|---|
| AAA (Interinsurance Exchange) | $616 | $1,374 | $1,041 | $1,050 | $1020.25 |
| Aegis Security | $888 | $1,181 | $886 | $1,074 | $1007.25 |
| AIG Prop Cas | $1,501 | $1,901 | $1,469 | $1,540 | $1,602.75 |
| Allstate | $429 | $709 | $526 | $526 | $547.5 |
| Amco | $626 | $1,270 | $987 | $1,029 | $978 |
| American Modern | $1,277 | $1,392 | $1,014 | $1,118 | $1,200.25 |
| American Reliable | $816 | $980 | $769 | $938 | $875.75 |
| American Security | $1,167 | $1,668 | $1,253 | $1,519 | $1,401.75 |
| Amica Mutual | $947 | $1,309 | $1,018 | $1,018 | $1073 |
| ASI Select Ins Corp | $528 | $908 | $720 | $831 | $746.75 |
| Bankers Standard | $1,549 | $2,042 | $1,903 | $1,993 | $1,871.75 |
| California Capital | $571 | $869 | $692 | $707 | $709.75 |
| California Casualty | $604 | $1,190 | $1,002 | $1,042 | $959.5 |
| Chubb/Federal | $1,477 | $1,833 | $1,462 | $1,462 | $1,558.5 |
| Cincinnati Ins Co | $1,169 | $1,489 | $1,136 | $1,192 | $1,246.5 |
| CSAA Ins Exch | $564 | $941 | $820 | $844 | $792.25 |
| CSE Safeguard | $471 | $800 | $707 | $748 | $681.5 |
| Encompass | $1,546 | $2,155 | $1,650 | $1,650 | $1,750.25 |
| Farmers (Fire Ins) | $1,206 | $1,942 | $1,595 | $1,684 | $1,606.75 |
| First American Specialty | $634 | $1,037 | $744 | $744 | $789.75 |
| Foremost Insurance | $1,455 | $1,601 | $1,138 | $1,256 | $1,362.5 |
| General Ins | $643 | $1,231 | $985 | $1,045 | $976 |
| Grange | $991 | $1,414 | $1,112 | $1,112 | $1157.25 |
| Hartford (Sentinel) | $884 | $1,270 | $1,052 | $1,277 | $1120.75 |
| Homesite | $946 | $1,259 | $982 | $1,041 | $1057 |
| Horace Mann | $916 | $1,221 | $867 | $919 | $980.75 |
| Horace Mann P & C | $963 | $1,284 | $909 | $964 | $1030 |
| IDS Property Casualty | $760 | $1,163 | $859 | $990 | $943 |
| Integon/National | $942 | $1,296 | $973 | $973 | $1046 |
| Kemper | $776 | $1,195 | $978 | $996 | $986.25 |
| Liberty Ins Corp | $794 | $1,467 | $1,185 | $1,484 | $1232.5 |
| MAPFRE Group | $641 | $1,103 | $820 | $860 | $856 |
| Mercury Ins Group | $416 | $816 | $643 | $670 | $636.25 |
| Metropolitan Direct | $1,489 | $2,255 | $1,732 | $1,817 | $1,823.25 |
| Nationwide | $626 | $1,270 | $987 | $1,029 | $978 |
| Pacific Property And Casualty | $382 | $1,002 | $758 | $920 | $765.5 |
| Pacific Specialty | $471 | $731 | $564 | $510 | $569 |
| Privilege Underwriters Exch | $1,452 | $2,016 | $1,512 | $1,512 | $1,623 |
| QBE | $651 | $819 | $677 | $794 | $735.25 |
| Safeco | $688 | $980 | $755 | $755 | $794.5 |
| State Farm | $511 | $1,002 | $765 | $827 | $776.25 |
| Stillwater Ins Co | $365 | $724 | $563 | $560 | $553 |
| Stillwater Prop & Cas Co | $446 | $896 | $697 | $704 | $685.75 |
| Tokio Marine America | $401 | $517 | $392 | $392 | $425.5 |
| Travelers | $538 | $804 | $649 | $615 | $651.5 |
| Universal North America | $518 | $999 | $800 | $1,005 | $830.5 |
| USAA | $883 | $1,153 | $896 | $943 | $968.75 |
| Wawanesa | $797 | $1,246 | $975 | $1,044 | $1015.5 |
| Western Mutual/Residence | $1,085 | $1,454 | $1,126 | $1,517 | $1,295.5 |
| Average | $837.06 | $1248.53 | $974.39 | $1045.71 | Richmond Average: $1026.42 |
Out of 49 providers in the city, these 10 had the lowest rates based on company average. But if you want the best homeowners insurance rates based on the coverage they provide, here’s what we found:
The Cheapest $400,000 Home Insurance for a New House:
- Stillwater Ins Co. ($365)
- Pacific Property & Casualty ($382)
- Tokio Marine America ($401)
- Mercury Ins Group ($416)
- Allstate ($429)
The Cheapest $400,000 Home Insurance for a 7-15 Yr House:
- Tokio Marine America ($517)
- Allstate ($709)
- Stillwater Ins Co. ($724)
- Pacific Specialty ($731)
- CSE Safeguard ($800)
The Cheapest $300,000 Home Insurance for a 7-15 Yr House:
- Tokio Marine America ($392)
- Allstate ($526)
- Stillwater Ins Co. ($563)
- Pacific Specialty ($564)
- Mercury Ins Group ($643)
The Cheapest $300,000 Home Insurance for a 26-40 Yr House:
- Tokio Marine America ($392)
- Pacific Specialty ($510)
- Allstate ($526)
- Stillwater Ins Co. ($560)
- Travelers ($615)
Why compare homeowners insurance rates in Richmond, CA?
Getting home insurance is one of the biggest decisions you’ll make. After all, it’s going to protect your most valuable asset. Like any major decision, you wouldn’t want to say ‘Yes!’ to the first provider that dangles the cheapest quote, only to find that it lacks coverage.
Having several options gives you the power to choose. Our home insurance comparison tool lets you discover available options in your area. From there, you can contact local agents and request personalized quotes. This will allow you to effectively compare offerings, find an insurance policy that fits your budget, and get adequate insurance for your home.
Do I Need Homeowners Insurance?
Answer: It depends. Homeowners may or may not be required to buy home insurance. You can own a house without home insurance. However, if your house is on mortgage, your lender will insist that you have one. Once your mortgage is fully paid, you can decide for yourself. Though we would still recommend buying one.
Buying house insurance for a mortgaged home
A mortgaged house acts as collateral for your loan, so the lender will continue to own it until it’s paid off. If you are unable to complete your loan, the lender can repossess your home and sell it to make up for losses. Home insurance protects the house and helps preserve its resale value.
Why you should buy homeowners insurance for your home
Even if you already own the house, purchasing home insurance is still advised. It protects against certain risks like fire, storms, and theft just to name a few. In the event that your home suffers loss or damage from a covered risk, your provider can help pay for repairs, renovations, and replacement costs. Your level of coverage will depend on your selected policy. But if you opt-in for endorsements and riders, you can get added extra protection for your home.
What Is It Like To Live In Richmond, CA?
Richmond is a large but otherwise laid back city in California. The place is a melting pot teeming with culture and history. It boasts several museums and bars, beach-side restaurants, and Point Isabel – the best off-leash dog park in the United States. Other than that, it may seem like there aren’t many amenities here. But you can always drive to Marin County or San Francisco if you find it lacking.
It has some nice and quiet neighborhoods, especially around Marina Bay and near the hills. Besides having friendly neighbors, the city is also known for affordable housing. Houses in Albany and Berkeley would easily cost you a million. But in Richmond, CA the median value of homes is just $371,900 or $71,500 less than the state average. With income that averages to about $61,000 per household, it’s not surprising how much the city has grown. In seven years, Richmond grew by a sizeable 6.6% compared to the state average of 6.1%. Currently, its estimated population is 110,040.
Disclaimer:
The home insurance costs on this web page were retrieved from the official website of
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