Cheap Homeowners Insurance Santa Monica

cheap homeowners insurance santa monicaSanta Monica is a beautiful seaside resort city in western Los Angeles County. The Santa Monica Pier is iconic and over 100 years old. The city is very progressive and enthusiastically green, and even has a goal of achieving complete energy independence by 2020.  Sustainability and preservation of natural resources are a primary focus of Santa Monica residents, they even have their own environmental task force. It is one of the most popular cities on the California coast to live in, so naturally it is also expensive. The cost of living in Santa Monica is 56% higher than the California average, and 111% higher than the national average! The median home price is $1,363,600, which is 350% higher than the national average. Owning a home anywhere on the coast is a big investment, so 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 Santa Monica has available.

cheap homeowners insurance santa monica 2The overall crime rate in Santa Monica is 60% higher than the national average, and property crime is 6% higher than the California average,  and 64% higher than the national average. The city has it’s own full time police department, with around 203 officers, and 373 employees total. Crime rates have an important impact on the cost of homeowners insurance in Santa Monica, as does the geographical traits that are unique to the city.

Santa Monica has a very high earthquake risk. The biggest earthquake within 30 miles of the city was a 6.7 Magnitude in 1994. There is also a 94.99% chance of a major earthquake within 50km of Santa Monica happening within the next 50 years. Because of its location on the open Santa Monica Bay, coastal influence can make yearly rainfall totals unpredictable. Flood conditions and rainy years are occasionally followed by droughts. Most homeowners insurance policies do not cover flood and earthquake damage, so if you own a high dollar home in Santa Monica, adding these policies is recommended.

About Homeowners Insurance in Santa Monica

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 santa monica 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 Santa Monica has to offer.