Cheap Homeowners Insurance Long Beach

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cheap homeowners insurance long beachThe cost of living in Long Beach is 38% higher than our nation’s average, and the cost of housing in Long Beach is 104% higher than the national average! Living in this beautiful beach city is costly, so protecting your biggest investment, your home, is critical. Homeowners in Long Beach should make sure they are protected by understanding their homeowners insurance. If you know how much insurance you need, you can get the best cheap homeowners insurance Long Beach has available.

 

Homeowners Insurance in Long Beach

Long Beach is one of the most beautiful places to live in So-Cal, and is known for its diverse population, arts and cultural scene, LGBT-friendly attitude and Grand Prix auto race. With a diverse stock of housing within easy reach of the city of Los Angeles and Orange County, single-family homes are still the most popular type of property to own. In March, 2017 the median list price for Long Beach homes was $502,000. This was $19,000 lower than the previous month. Homes with prices ranging from $90,000 to $3 million are the norm, but the inventory of available homes for sale continues to decrease from what it was just one year ago. This is making the competition among sellers considerably lower.

Earthquakes, floods, droughts, wildfires and the occasional hurricane are the most common threats to homeowners in Long Beach. The average price in California for a homeowners policy is $762 per year for a home worth $250,000 and $2,099 for homes worth $750,000. For most California households, therefore, higher housing costs consume a large portion of their income. The average California household spends about 27 percent of their monthly income on housing. The the rest of the country, on the other hand, spends about 23 percent.

For most people in Long Beach, their home is their biggest investment. Making sure you know what your insurance company policy covers and how much you need. This will help you get a cheap homeowners insurance policy that adequately covers your biggest and most important investment.