More on Home Insurance
More on Home Insurance
Your guide to the best homeowners insurance companies in Los Angeles, the cost of coverage by ZIP code, and special considerations for Los Angeles homeowners.
Published November 1, 2019
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Homeowners insurance is important and lender-required protection for your home, your personal property, and your combined assets in the event your property is damaged or you’re sued because of an accident. If you’re one of the over 1.5 million Los Angeles County residents who owns a home, you’ll want to make sure you have a good homeowners insurance policy with a reputable company.
Keep reading for our guide to homeowners insurance in the City of Angels, and be sure to check out our guide to homeowners insurance in California for everything you need to know about insuring your home in the Golden State.
When comparing policies, pay special attention to companies’ financial strength, the depth of coverage for standard policies, customer service ratings with J.D. Power and Consumer Reports, and the number of discounts offered.
Of the insurers offered by Policygenius, we determined the most affordable homeowners insurance company in Los Angeles was Swyfft, with an average annual premium of $1,025. MetLife had far and away the highest rates, with an average annual premium of $4,175.
Methodology: Average annual premium for each insurance company was calculated using Policygenius quoting data.
When determining your homeowners insurance premium, companies factor in your coverage amounts, the makeup, build and age of your home, your credit score, and where your home is located.
Among the areas where users submitted quotes with Policygenius, the best deal on coverage was in the 90016 ZIP code (West Adams), with a $1,050 average annual premium. The highest quoted rates were for homes in the 90049 ZIP code (Brentwood), with a $5,600 average annual premium.
|ZIP code||Average annual premium|
Methodology: Average annual premium for each ZIP code was calculated using Policygenius quoting data.
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Your homeowners insurance rates are directly impacted by how much coverage you have. Your home’s insured value or dwelling coverage amount should be equal to the rebuild cost of the home.
Here are the average rates for three different coverage levels for a home in Los Angeles.
|Coverage amount||Average annual premium|
Methodology: Average annual premium for each coverage amount was calculated using Policygenius quoting data.
Los Angeles County is no stranger to earthquakes and the omnipresent threat of “The Big One”, and homes are accordingly retrofitted and constructed to withstand the occasional shake and rattle. But perhaps the biggest threat of late are drought-caused wildfires and flash flooding.
If your home is in an area at high risk of wildfires, consider enhancing your dwelling protection with an extended or guaranteed replacement cost coverage endorsement. It raises your dwelling coverage limits in the event that a fire or other covered peril wipes out your home and its rebuild cost skyrockets because of increased demand for construction materials and labor.
If your home is in an area at risk of flooding, look into acquiring flood insurance. Flood insurance is provided through the federal government’s National Flood Insurance Program and insurance carriers that offer their own private flood coverage.
In addition to protecting your home against bad weather and natural disasters, homeowners insurance also covers you from loss like theft and arson.
Los Angeles’s property crime rate is actually one of the lowest in the country among major cities, averaging around 2,500 reported offenses per 100,000 residents annually—slightly higher than the national average but lower than many other cities of the same size.
When setting up your policy, pay close attention to the portion of your coverage that reimburses you for damage or theft of personal belongings. Certain items—like jewelry, furs, art, and instruments—are only covered up to a certain limit for theft losses and may need additional coverage depending on their value.
Pat Howard is a homeowners insurance editor at Policygenius in New York City. He has written extensively about home insurance cost, coverage, and companies since 2018, and his insights have been featured on Investopedia, Lifehacker, MSN, Zola, HerMoney, and Property Casualty 360.
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