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CA Department of Insurance
CA Department of Insurance
CA Department of Insurance

Shopping for Residential Insurance

Whether you own a house, a condominium, or renting your residence, for most people their home is the most important investment they have. Finding insurance for your investment can often be confusing and frustrating. When searching for good quality insurance, emphasis should be placed on obtaining coverage that is reasonably priced and written by authorized insurance companies that have a reputation of paying claims fairly and promptly. You should purchase insurance that is properly structured to cover your residence and your specific needs.

We have three resources below that will assist you when shopping for insurance for your residence:

  • Residential Insurance, Homeowners and Renters
    This brochure is designed to give you a better understanding about homeowners and renters insurance. This guide also provides a clear understanding of the coverages provided in both types of policies.
  • Homeowner's Premium Survey
    This survey is a comparison of insurance premiums of various insurance companies offering homeowner's insurance in California.
  • Homeowner's Consumer Complaint Study
    This study ranks and analyzes insurance companies according to a comparable ratio of justified complaints received by the department.

Shopping Tips

Because the price you pay for homeowner's and renter's insurance can vary by hundreds of dollars, we have provided a list of items to consider when purchasing or trying to lower the cost of your insurance.
  • Shop Around
    This may take some time, but could save you a considerable sum of money. Consult the Homeowner's Premium Survey.
  • Consider Buying Your Home and Auto Policies from the Same Insurance Company
    Many insurance companies will take as much as 5 to 20 percent off your premiums if you buy two or more policies from them.
  • Look to Raise Your deductibles
    The higher your deductible, the more money you can save on your premiums.
  • Improve the Security of Your Home
    Many insurance companies offer discounts from 5 to 20 percent for smoke detectors, dead-bolt locks, sprinkler systems and alarm systems that directly alert the police and/or fire departments.
  • Don't Confuse What You Paid For Your House With Rebuilding Cost
    The land under your house is not at risk from theft, windstorm, fire or other perils covered in your homeowner's policy. Be careful not to include land value in deciding how much insurance to buy. Including land value in your estimate will cause you to pay higher premiums.
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