Oakland Homeowners Insurance

Your Complete Guide to Oakland, CA, Homeowners Insurance

How to get the best agent in town

Oakland California Homeowners Insurance

Your Oakland, CA, home is a valuable asset. Protection for your property, belongings, and liability can be covered under a homeowners policy. Oakland is a large town consisting of over 425,195 residents and growing. 

When you need coverage for an affordable price, an independent insurance agent can help. They have access to several carriers, giving you options. Connect with a local expert in minutes for quotes. 

How Much Will Oakland, CA, Home Insurance Cost?

Many things impact your insurance premiums. A compilation of personal data and outside factors will set your home insurance price. Take a look at the items insurance companies use to determine your premiums.

  • Where you live
  • How many claims you've filed
  • How new your house is
  • How close you are to a fire department
  • How close you are to a fire hydrant
  • The materials of your home
  • Your credit score
  • If you have a pool, trampoline, or pet
  • The square footage of your home
  • How much it costs to replace your home

The average home insurance premium

  • National average: $1,211
  • California average: $1,008

Risk factors you can improve

  • Improving your credit score
  • Filing fewer insurance claims
  • Updating your roof, electrical, plumbing, or heating

In addition to the above rating factors, consider bundling your home and auto insurance. When you put all your policies with the same carrier, you will save big time. Insurance companies award a 30% discount or more on coverage.

What Liability Coverages Does Your Oakland, CA, Home Need?

Your home's liability insurance options are two-fold. You will have coverage under your primary home policy as well as through umbrella insurance. Liability limits will help you avoid a lawsuit arising out of bodily injury and property damage. Take a peek at the most common ways to obtain liability protection.

  • Your homeowners policy
  • Umbrella insurance

Umbrella insurance is a separate policy that will help in times of extreme financial risk. When your underlying home policy limits have been exhausted due to a large claim, umbrella insurance will apply. Limits start at $1,000,000 and go up from there. 

What Affects Your Home Insurance Premiums in Oakland, CA

Burglaries and other property crimes will have an impact on your homeowners insurance premium. If you live in a safer city historically, you'll get a better rate. Take a look at the burglaries per 100,000 households below.

  • National average: 376.00
  • California average: 416.20
  • Oakland average: 556.40

Home insurance will provide coverage for burglary under the following limits

  • Dwelling limit
  • Personal property limit
  • Additional living expense limit
  • Medical payments limit
  • Liability limit

In addition to the above coverages needing the appropriate limits, your policy as a whole will have to provide insurance for theft. Most homeowners policies have theft as a covered peril. However, reviewing with an adviser is beneficial. 

How Natural Disaster Impacts Your Oakland, CA, Home 

Oakland, CA, has its fair share of weather-related activity. Natural disasters can wreak havoc on your finances if you're without the right coverage. Take a peek at the top exposures in Oakland, CA.

  1. Wildfires and residential fires
  2. Flooding and water damage
  3. Earthquakes and tremors
  4. Severe storms and lightning
  5. Burglary and other property crimes

Oakland's weather-related statistics

The number of natural disasters in Oakland: 16

Major presidentially declared disasters in Oakland: 14

Emergencies declared in Oakland: 2

Let's look at the top three causes in Oakland

Floods: 10 declared as a disaster

Storms: 7 declared as a disaster

Landslides: 4 declared as a disaster

Here's why you need flood insurance

Most homeowners are not aware that their primary home policy will not cover flood damage. For coverage, you'll need a separate flood insurance policy entirely. According to FEMA, an average loss results in over $20,000.  

If You Own an Airbnb in Oakland, CA

When you own a short-term rental in the form of an Airbnb in Oakland, CA, a specific policy is necessary. A standard home policy won't do for the right coverage on revolving tenants and your interests. A landlord policy is needed to protect your asset. 

Landlord insurance provides coverage for third parties and loss of use. When you're not able to rent out your property, this policy will help pay the mortgage until repair or replacement is done. Your investment should have landlord coverage through carriers that allow Airbnbs. 

Connect with an Independent Agent in Oakland, CA

When you're searching for home insurance in Oakland, CA, a trusted adviser can help. With California having 4,158,620,000 home claims reported in 2019, the right coverage should be obtained. When you're protecting your largest asset and family, a licensed professional can help.

An independent insurance agent can find a policy for an affordable price. They have access to several carriers, giving you options on coverage. Connect with a local expert on TrustedChoice.com in minutes. 

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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