Riverside residents pay more for home insurance than homeowners in many other California cities, though residents in Los Angeles and San Francisco pay higher rates. The average Riverside homeowner pays $2,023 per year for $300,000 in dwelling coverage with a $1,000 deductible.

Allstate, Armed Forces Insurance Exchange, and First American Insurance provide the cheapest coverage in Riverside, but the ideal insurer for you will depend on your unique circumstances. 

Here’s what to consider when shopping for home insurance in Riverside so you can secure the most affordable rate.

Best home insurance companies in Riverside

Many reliable home insurance companies serve Riverside. The best home insurance company for you will depend on your situation and needs.

Here, you can see how some of the top insurers in the area stack up against one another.

Cheapest rates: Allstate

Best insurer for military members: Armed Forces Insurance Exchange

Armed Forces Insurance Exchange caters to activity-duty military members, military veterans, and U.S. Department of Defense employees. That means nearly 117,000 veterans are eligible in Riverside.1 Combine them with active-duty military members stationed at March Air Reserve Base, and plenty of area residents could benefit from coverage from Armed Forces Insurance Exchange.

Best insurer for earthquake and flood insurance: Pacific Specialty

Best insurer for mobile policy management: Mercury

Cheapest home insurance in Riverside

Allstate offers the cheapest home insurance in Riverside. Its average annual premium stands at $858 for $300,000 in dwelling coverage. Here, you can see the average annual rates that other top companies offer in the area.

Cost of homeowners insurance in Riverside

The average home insurance customer in Riverside pays $1,940 per year for a $300,000 policy with a $1,000 deductible. But several factors will determine the rate you’ll pay in Riverside, including:2

• Coverage amount

• Deductible amount

• Geographic location of your home

• Age of your home

• Structure of your home

• Value of your personal belongings

Cost of homeowners insurance by dwelling coverage amount

Not surprisingly, the cost of homeowners insurance rises as the amount of coverage rises. In California, the average annual premium ranges from $930 for $100,000 in coverage to $2,644 for $500,000 in coverage. You can get a rough idea of how much your home insurance will cost by multiplying the total square footage of your home by local per-square-foot construction costs.

Here, you can see how average annual premiums differ based on dwelling coverage limits in California.

Cost of homeowners insurance by deductible

The average annual home insurance premium with a $500 deductible is $2,023 in Riverside. But when the deductible climbs to $1,000, the average premium dips to $1,940.

This is because you’re taking on more of the risk yourself up front, and raising your deductible might lower your premium by as much as 25% in some cases.

How to get cheap homeowners insurance in Riverside

If you’re concerned about the cost of homeowners insurance in Riverside, you can take several steps to lower your premium, including:3

• Compare quotes. When shopping for coverage, look at rates offered by several home insurance companies, not just one company. Then, consider which option would best fit your needs based on price, coverage, and other factors, such as customer service and available liability protection. You can typically buy directly from an insurance company or through insurance agents or brokers.

• Bundle your coverage. You might achieve cost savings if you buy home and auto insurance from the same company. Some companies take 5%–15% off your premium if you buy at least two policies. Just be certain the bundled price is lower than the price you’d pay for coverage from two or more companies.

• Improve your home’s disaster resistance. In a hurricane- and flood-prone place like Riverside, you should seek ways to make your home more resilient when it comes to disasters. For example, you might consider retrofitting an older home so it can better withstand an earthquake.

California homeowners insurance rates by city

Homeowners insurance rates differ from one city or ZIP code to another, based on several factors. For example, the average home insurance premium for a policy with a $1,000 deductible is $1,940 in Riverside, but the same policy is $1,488 in San Diego.

Here are some possible reasons for the rate difference:

• Some areas, such as Riverside, are more prone to earthquakes than other areas.

• Construction costs may be higher in one spot compared to another.

• Some homes may be closer to a fire station than others.

• Living in a high-crime neighborhood, where theft and vandalism often happen, might lead to higher rates than living in a low-crime neighborhood.

Here, you can see how the average annual premium in several other California cities compares to what you’ll pay in Riverside. All rates are for policies with a $1,000 deductible.

How much homeowners insurance do you need in Riverside?

State laws don’t require that you buy home insurance. But if you take out a mortgage on your home, your lender will generally require you to buy coverage.

Before you purchase a home insurance policy, be sure you understand what it covers and ensure that the coverage meets your needs. For instance, make sure your policy offers enough coverage if you must rebuild your home if a fire were to destroy it.

What are some of the biggest risks when owning a home in Riverside? 

Some of the biggest risks of owning a home in Riverside include: