Cheap Homeowners Insurance Richmond

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cheap homeowners insurance richmondThe City of Richmond is located 16 miles northeast of San Francisco on the western shore of Contra Costa County. Richmond developed rapidly as a heavy industrial town during World War II. Shipbuilding was the main activity, and today the city is still an active seaport. The cost of living in Richmond is 6% lower than the California average and 27% higher than the national average. The cost of housing in Richmond is 47% higher than the national average, with a median home price of $271,300.  If you own a home here it is very important to understand how much insurance you need according to the special features of the area. This will help you get the best cheap homeowners insurance Richmond has available.

cheap homeowners insurance richmond 2In the past the city of Richmond suffered from a high crime rate. The crime rate has been declining, but it is still 47% higher than the national average. Property crime has decreased from last year, but it is still above the national average. There are a total of 276 police officers in Richmond. This works out to about 2.6 police officers per 1,000 residents which is 28.2% less than the California average and 20.6% less than the National average. Crime is an important factor in determining the cost of homeowners insurance.

Geographical specifics also play a role in the cost of homeowners insurance. Richmond lies in the volatile California region that has a potential for devastating earthquakes, and the city has also had at least one minor tornado. Most homeowners insurance policies cover fire and theft, but not earthquake and flood damage. If you own a home in Richmond it is a good idea to add this coverage to your policy.

About Homeowners Insurance in Richmond

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 richmond 3

  • Damage 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 Richmond has to offer.