Bakersfield is one of the most populated cities in California and has a homeownership rate of 59% among the residents, based on U.S. Census data. The average cost of homeowners insurance in Bakersfield is currently $932 per year for $250,000 in dwelling coverage, which is well-below the national average of $1,312 annually. To help California residents who are looking for the best homeowners insurance companies, Bankrate has compared the top providers by market share on the basis of quoted premiums from 2021, customer service ratings, coverage options and discounts for the sake of comparison.
Best cheap home insurance companies Bakersfield
Cheap homeowners insurance rates in Bakersfield can be found by obtaining quotes from multiple providers. Bankrate has reviewed several carriers to help give you an idea of what the lowest rates are, on average, based on 2021 quoted premiums. The 2020 J.D. Power Home Insurance Study ratings were also included to show how these reviewed providers compare on regarding both rates and customer satisfaction.
This California-based insurance company was founded in 1961 and currently has over 9,400 agents available to assist customers with their homeowners insurance needs. Mercury also happens to offer the lowest average annual premiums for Bakersfield homeowners, among the carriers reviewed, and a wide range of coverage options and discounts. The carrier is not included in the 2020 JD Power scores, which may be due to limited market share size compared to other nationally available carriers. However, the benefits of a local provider may be that your agent is more familiar with the risks associated with this state.
USAA provides insurance policies to both current active service members, as well as veterans and immediate family members of both. If you meet the eligibility criteria, USAA offers you the standard homeowners coverages, plus optional add-ons — such as identity theft coverage or an earthquake endorsement. USAA also scores the highest in the J.D. Power Home Insurance Study, with an impressive 889 out 1,000 points, highlighting its commitment to customer satisfaction for its members.
As one of the largest insurance providers in the U.S. by market share, Progressive is able to offer highly-competitive rates in Bakersfield. This provider is widely known for the number of discounts you may be eligible for, which can help with premium affordability. Discounts for things such as paying your policy in advance and renewing ahead of your policy rollover are a couple of examples of how you can save further on your Progressive homeowners policy.
Founded in 1922, State Farm is now the largest provider of insurance in the U.S. by market share and continues to innovate even 100 years after its inception. Potential customers and existing ones can obtain quotes, buy a policy, make changes and file claims through the mobile app or online, or can work with one of the 19,000 agents nationwide. In addition to these factors, State Farm ranks above the industry average for customer satisfaction in the 2020 JD Power home insurance study.
Travelers is the oldest carrier on the list, having written insurance policies since 1864. Today, homeowners who purchase a policy through Travelers can select from useful coverage additions, such as a personal articles floater, which covers your high value items like art and jewelry. Discounts including a multi-policy savings and a new home buyer discount can potentially save you up to 15% on your policy premiums, making the provider even more affordable for California homeowners.
Home insurance coverage options in Bakersfield
Homeowners insurance is not required by law in the same way auto insurance is, but most lenders do require this coverage if you are financing your home. A homeowners insurance policy provides financial protection if you have damage from covered perils, and is one of the best ways to protect the investment of your home. Depending on your desired level of financial protection and the value of your home, you may choose to have these coverages added or increased in policy limits:
- Dwelling coverage: Covers the structure of your home if you have damage from a covered peril, such as theft or fire.
- Personal property coverage: This covers the belongings inside your home, such as furniture and clothing, in case of a covered peril. You can purchase scheduled property coverage for your high value items, such as jewelry or art, if your items exceed the insurance carriers replacement limits.
- Earthquake coverage: Standard homeowners policies do not include earthquake coverage, however you can add this as an endorsement to your policy. This would provide additional coverage if your home is damaged due to an earthquake.
Home insurance discounts in Bakersfield
Although average rates for homeowners insurance in Bakersfield are well-below the national annual average of $1,312, discounts are available to help homeowners save even more on their policies. Depending on the providers you include in your quote-comparison, you may be able to get savings from discounts such as:
- Paperless statements: Save on your premiums with most providers by switching to paperless statements. In addition to lower rates, it is one less monthly bill taking up space in your mailbox.
- Bundling: Purchasing your homeowners policy through the same carrier as your auto insurance is an easy and effective way to save on both. Some carriers offer customers up to 25% in discounts for bundling two or more policies, although your exact savings percentage may vary by provider.
- New home construction: If your home was built within the last year, carriers may provide a discount for owning a brand new home.
Discounts are a great way to save on premiums, but there are other savings options available too. Raising your deductible — the amount you pay out of pocket with a claim — will lower your premiums overall, and many carriers offer additional savings if you pay your premiums in full in advance of your policy renewal date. Speak with an agent to learn about other ways you might be able to reduce the cost of your home insurance with your provider.
Frequently asked questions
What is the best home insurance company?
The best home insurance company for you may be found by reviewing customer service ratings, the financial strength of a carrier, coverages and discounts and digital tools. Bankrate has reviewed several companies based on these variables to assist in your selection process.
How much does home insurance in Bakersfield cost?
The average cost of a homeowners policy in Bakersfield is $932 per year for $250,000 in dwelling coverage. However, your rates may be more or less expensive depending on numerous factors, including your specific ZIP code, age of your home and risks present on the property.
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers 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.