Best cheap home insurance in Fresno in 2024

The best home insurance companies in Fresno

Home insurance in California has become increasingly hard to come by, with some of the state’s largest insurance companies pausing or heavily limiting new policies. Fresno homeowners may have an especially difficult time securing coverage, considering the Federal Emergency Management Agency (FEMA) labels Fresno County as relatively high risk for wildfire damage. Bankrate’s insurance editorial team looked at average rates from Quadrant Information Services, customer service scores from J.D. Power, coverage availability, financial strength ratings, discount options and other metrics. We also checked to ensure that the carriers we chose as best are still writing policies in California and have not announced coverage limitations. Based on our research, Mercury, MAPFRE and Encompass write some of the best home insurance in Fresno.

The cheapest home insurance companies in Fresno

Home insurance can strain a budget, and some homeowners may need to consider their budget first when shopping for insurance. Bankrate’s insurance editorial team found the cheapest home insurance companies in Fresno, California, for different dwelling coverage limits. The dwelling limit you choose can play a large role in the cost of your policy, so the cheapest provider for a $300K limit may not be the same as the one for a $750K policy.

How much is home insurance in Fresno, California?

The average cost of home insurance in Fresno, California is $1,239 per year for a $300K dwelling limit policy. This is 15 percent less than California average of $1,453.

Both of these averages are below the national average cost of home insurance, which is $2,230 per year — which may seem odd, considering California’s exceptionally high wildfire risk. That’s not an accident: current California’s insurance regulations currently prevent insurance companies from raising rates to a level that accurately reflects the risk of insurance on a home in the state. This leaves home insurance rates stuck at a deceptively low level, and is a major contributor to the ongoing California home insurance crisis.

Fresno rates by home age

In most cases, older homes are more expensive to insure. That is because if an older home needs a full rebuild after a covered loss, it could cost the insurer more money to bring the home up to current building codes. Plus, older homes are more likely to be built with more expensive, hard-to-source materials than a new build. But, that does not guarantee you will get the cheapest rates with a new build. Below, we’ve pulled different rates from the cheapest home insurance companies in Fresno for five different home construction years.

Fresno rates by deductible amount 

If you’re trying to get a more affordable rate on your home insurance policy, you might want to look at your deductible. A home insurance deductible is the amount of financial responsibility a homeowners has after they file a claim. In most cases, raising your deductible will result in a lower home insurance premium. But, be careful not to raise it to something you cannot reasonably afford. The table below illustrates average rates for different deductible amounts from the five cheapest insurance companies in Fresno.

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze July 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on married male and female homeowners with a clean claim history, good credit and the following coverage limits:

• Coverage A, Dwelling: $150,000, $300,000, $350,000, $450,000, $750,000
• Coverage B, Other Structures: $15,000, $30,000, $35,000, $45,000, $75,000
• Coverage C, Personal Property: $75,000, $150,000, $175,000, $225,000, $375,000
• Coverage D, Loss of Use: $30,000, $60,000, $70,000, $90,000, $150,000
• Coverage E, Liability: $500,000
• Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible, a $500 hail deductible and a 2 percent hurricane deductible (or the next closest deductible amounts that are available) where separate deductibles apply.

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Year built: Rates were calculated based on the following years built for homes and assigned to our homeowners: “1959, 1982, 1992, 2010, 2016 (base) and 2020.”

Bankrate Scores

Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.

• Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
• Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
• Tier 3 (Support): To encompass the many ways a home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.