Cheap Homeowners Insurance South Gate

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cheap homeowners insurance south gateSouth Gate is located 7 miles southeast of Downtown Los Angeles, and has a total 2016 estimated population of 99,578, with the median age being 30.2. South Gate has one of the highest state and city taxes in the state of California at 10.75%. The cost of living in South Gate is 10% lower than the California average, but 21% higher than the national average. The median home price in South Gate is $297,200, which is 69% higher than the national average. The home listing price is down 3.33% from 2016. Owning a home anywhere in Los Angeles 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 South Gate has available.

cheap homeowners insurance south gateThe property crime rate in South Gate is 29% higher than the state of California and 36% higher than the nation’s average. Overall crime rate is 39% higher than the national average. This will have an effect on homeowners insurance rates because the risk of theft is higher than other areas. It is also important to know the geographical risks of the area where you own a home.

South Gate has a very high earthquake risk. The largest earthquake within 30 miles of South Gate, was a 6.7 Magnitude in 1994. There have been a total of 3,083 earthquakes since 1931, and there is a 96.15% chance of a major earthquake within 50km of South Gate within the next 50 years. The winter is expected to bring heavy rainfall, and heavy rains may lead to flooding, down power lines and/or traffic signals and fallen trees. Most homeowners insurance policies cover theft and fire, but not flood and earthquake damage. If you own a home in South Gate it is a good idea to add this coverage to your homeowners insurance policy.

About Homeowners Insurance in South Gate

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:

  • 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 South Gate has to offer.