The average cost of home insurance in Sacramento is between $515 and $696. Homeowners here can save up to $242 based on a detailed comparison of home insurance quotes obtained from different home insurance companies. The cost of one’s home insurance depends on numerous factors ranging from the age of the house to the rate of deductibles. Some of the factors that could result in a higher insurance rate are listed below:
The cost of home insurance depends to a large extent on the rate of deductibles. If the rate of the deductible is high, the cost of home insurance is lower and vice-versa. In contrast, paying a low deductible can lead to a massive increase in the cost of home insurance in Sacramento. For example, if the deductible is high, say $2,700, the cost of home insurance for 8 years will be $5,100. But, if the deductible is lower, say $1,700, then the cost of home insurance for 8 years goes up to $5,700.
Area one lives in:
The cost of home insurance can also vary within the city, depending on factors such as the rate of burglaries that take place in that area. For example, the median home insurance rate seems to be the highest in the area that has the zip code 95830, at $660. It is the lowest in the area that has the zip code 95824 ($590).
Value of Home and the Year in which it was Built:
The value of the property, along with its age, also determines the cost of home insurance for that property. A home built in 1981, whose value is $265,000, will have a monthly premium of $260. This also depends on the type of roof and the area in which it is built. In this example, the house has a wood shake roof and is built over an area of 2,250 square feet. Another home, which is relatively new and constructed in 2012, has a value of $275,000. The monthly premium for this home is $670. This is far more expensive than the former. It has four bedrooms and is built on an area of 2,0000 square feet. The difference in the rate of premiums is mainly because the rate of the deductible for the former is greater than $10,000, while for the latter, it is between $1,000 and $2,500.