Cheap Homeowners Insurance Downey

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cheap homeowners insurance downeyDowney is located 13 mi southeast of downtown Los Angeles and is surrounded by four major freeways. The cost of living in Downey is 1% higher than the California average and  37% higher than the national average. The median home price in Downey is about $413,400, which is 11% higher than the California average. Many people live in Downey and commute to Los Angeles for work, in order to take advantage of the more affordable housing costs. Even so, for most people their home is their biggest investment, so it is very important to understand how much insurance you need according to the special features of the city you live in. This will help you get the best cheap homeowners insurance Downey has available.

cheap homeowners insurance downey 2The overall crime rate in Downey is 2% lower than the national average, and property crime is 4% lower than the state average and 1% higher than the overall national average. There are a 144 Downey police officers in Downey, which works out to about 1.3 police officers per 1,000 residents. This is 64.9% less than the California average and 61.2% less than the National average. Crime rates are important considerations for homeowners as it can affect the cost of policy coverage.

Another consideration is the geological features of Downey. Most of Southern California is considered to be a seismically active region. Downey has about 25 small earthquakes a month, and the probability of a large earthquake in the next 30 years is high. The earthquakes also have the potential to create a dam failure at Whittier Narrows Dam, causing flooding of the area. Most homeowner insurance policies cover theft and fire, but not flood and earthquake damage. If you own a home in Downey it is a good idea to add flood and earthquake protection to your policy.

About Homeowners Insurance in Downey

Since each homeowner is an individual, not every person will want the same coverage. However, there are certain aspects to homeowners insurance that are necessary. Most policies generally cover
the following:

  • cheap homeowners insurance downey 3Damage to your home, such as permanent structures being destroyed by fire.
  • Damage to personal property, including items in your home being damaged that are not permanent structures.
  • Liability Coverage, which can be useful in legal matters or if there is an accident at your residents.
  • Limited Coverage for theft, which covers things such as stolen jewelry or other expensive property.

California has many cheap homeowners insurance carriers to choose from and premium rates are largely based on who is providing the coverage. This means it pays to take the time to shop around for the best coverage on cheap homeowners insurance Downey has to offer.