Cheap Homeowners Insurance Riverside

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cheap homeowners insurance riversideRiverside is centrally located and has many affordable homes, room to explore, and a diverse cultural heritage. The median home value in Riverside is $338,600, and home values have gone up 7.4% since 2015 and are predicted to rise another 4.8% within the next year. Understanding the market value of your home and the cost of living in the area can help you find the best cheap homeowners insurance Riverside has available. Residents of Riverside, CA are currently paying $966 for home insurance coverage on average, which is less than the $1,096 more commonly seen in the rest of the nation.

The full replacement coverage of your home, your contents, loss of use, medical payments and homeowner liability coverage, are all very important things to consider when shopping for homeowners insurance. Elevation is crucial to a homeowners insurance policy because it determines the risk of your home being in a flood zone. Riverside is only 851 feet above sea level, which means flood insurance is strongly suggested. The Riverside area is also prone to hurricanes and windstorms, which may or may not be included in a standard homeowners policy.

Living in California means knowing a lot about earthquakes, and how to prepare for one. Yet, only a mere 10 percent of California homeowers statewide carry earthquake protection. Houses built before 1979 do not meet current earthquake building codes so the home would be more at risk for earthquake damage. This could push up the costs of your policy, and retrofitting an older home can result in a discount of up to 20 percent.

Riverside was known not only for crime but also smog. Both have improved over the last few years, but property crime in Riverside is still 24% higher than the average of California, and is 31% higher than the national average. The cost of living in Riverside is 17% higher than the national average. The cost of housing in Riverside is 34% higher than the national average, so thankfully the median income for Riverside homeowners is also higher, at $75,817.