Cheap Homeowners Insurance Oakland

Start My Quote
cheap homeowners insurance OaklandThe cost of living in Oakland is 8% higher than the California average and the cost of housing in Oakland is 110% higher than the national average. Oakland’s crime index is 138 percent higher than California’s average, and property crime is a problem across the city. The median home value in Oakland is $662,400, and Oakland home values have gone up 9.8% since 2014. Zillow predicts home prices will continue to rise. Protecting your home is important, and if you understand how much insurance you need now and in the future, you can get the best cheap homeowners insurance Oakland has available.

Homeowners Insurance In Oakland

The median home price in Oakland is 148% higher than the national average. The range of values is very wide depending on neighborhood. Upper Rockridge has homes at around $1.26 million, while the Coliseum district has prices around $225,000.

Oakland’s employment stats and economy provide a fairly high wage earning environment, so paying for the high priced real estate is in range of most residents. Even with a high median household income, the most expensive cost is housing. Most residents stay put for years, and so homeowners insurance is vital to protecting their home, and their biggest investment.

In addition to the well known high rate of earthquakes, there are other very important risks to homeowners. First of all, the Oakland Hills fires in 1991 made everyone more aware of the cities higher fire risk. Streets in the Oakland Hills can be narrow and windy, making access to firetrucks very challenging.The steep slope means that fire can spread quickly, and move through the canyons at an accelerated rate.

Because of changing risk rates, and price fluctuations, it is a good idea to run a replacement cost estimation on your home every 2 years. This will keep your coverage adjusted to the correct amount and provide the best cheap homeowners insurance Oakland has, even as risk and prices change.