The Best Condo Insurance in California of 2023

As a type of homeowners insurance, California condo insurance helps condo owners in the Golden State protect themselves against expensive financial losses resulting from covered incidents. Condo insurance helps pay to repair interior condo structures or replace damaged or stolen belongings after a covered loss. In the event the condo is uninhabitable for a period of time after a covered loss, condo home insurance in California may cover temporary housing up to the policy limits. It also provides liability coverage and medical payments to others if a condo owner is found responsible for property damage or injury to a third party, or if a visitor to the condo is injured, regardless of fault.

Since the amount and types of coverage can vary among policies, finding the right condo insurance policy is a priority for many California condo owners. Condo owners searching for the best condo insurance in California can look at a list of insurance companies in California to begin their search, comparing policies, prices, and customer service; the following list can provide a place to start.

1. BEST OVERALL: State Farm
2. RUNNER-UP: Amica
3. BEST DISCOUNTS: Allstate
4. BEST FOR SERVICE MEMBERS: USAA
5. ALSO CONSIDER: Farmers Insurance

What to Consider When Choosing One of the Best Condo Insurance Companies in California

Finding the best condo insurance in California isn’t necessarily an easy task. California condo owners will want to consider their unique insurance needs when comparing policies. A good fit for one condo owner may not be the right fit for another. It’s recommended that condo owners start their search by considering several factors, including the amount of coverage they need, policy options available, deductible and premium amounts, and the customer service of the insurance company.

Coverage Amount

The coverage amount of a condo policy is how much the insurance company will pay to repair damages or replace belongings after a covered loss. Condo owners can also choose how much liability coverage they want—insurers will typically offer a standard amount but policyholders can increase their coverage limit if they are concerned about the financial impact of being found responsible for causing property damage or injury to a third party. Medical payments to others coverage can help pay for the medical bills of guests injured while on the property, up to the policy limits, but condo owners may be able to increase their coverage amount if they choose.

Unlike traditional homeowners insurance, condo insurance policies offer limited coverage for the structure of the building. That’s because it’s typical for condo associations to have an insurance policy that covers the physical structure of the building and any common areas. Condo owners are encouraged to check their condo association’s insurance policies to see what is and isn’t covered for their unit.

Policy Options

Although all condo insurance policies offer similar types of coverage as standard, some insurance companies offer additional policy options. Depending on the policy and the insurance provider, a condo insurance policy may include certain types of additional coverage as standard. Other policies, however, might allow condo owners to customize their coverage with add-ons or endorsements. Endorsements for such things as sewer backups, earthquakes, floods, and high-value property can provide extra coverage. Although they’ll add an additional cost to the monthly premium, these endorsements let condo owners create a more customized policy to meet their needs.

The best homeowners insurance companies offer a range of policy options for condo owners to customize their policies. A policy that comes with many standard options, or one that allows policyholders to add the specific coverage they need for an affordable price, makes it easier for condo owners to get adequate coverage without the need for additional insurance policies.

Insurance Premiums

Because property values are sometimes higher in California than in other areas of the country, condo owners might find that the average homeowners insurance cost in California is higher than in other regions. The cost of condo insurance premiums can vary within the state of California as well.

Location isn’t the only factor impacting the cost of condo insurance premiums. The age and construction of the property, as well as the value of the owner’s belongings, can affect the total cost of a condo insurance policy. Other factors, including the owner’s claims history and the deductible amount, can change how much a condo owner pays for coverage. In addition, the price of California homeowners insurance can vary among insurance companies.

Quote Process

Getting multiple insurance quotes in California can help condo owners find the right fit to protect their homes. In addition to helping shoppers find the best condo insurance in California, getting quotes through multiple insurance companies can give them a glimpse into the customer service of each company.

Insurance companies that provide a smooth quote process, for example, may be easier for customers to work with. On the other hand, if it’s difficult for condo owners to get a quote from a company, this could be a sign that the company’s customer service is lacking. As condo owners shop for insurance, they may want to take into account how easy it is to get in touch with a company and get a quote as a good starting point.

Claims Process

Filing an insurance claim can be a stressful experience for many homeowners in that it often involves a loss. This could be, for example, a fire that destroys a homeowner’s living room, damaging their furniture and carpets. During these stressful experiences, homeowners want to be sure that their insurance company is there to help them through the process.

An insurance company’s claims process could be a factor in helping condo owners in California find the right insurance for their situation. For example, many of the best condo insurance companies in California offer 24/7 claims service through a phone hotline, online portal, or even a mobile app. Having the ability to easily file and manage claims could make it somewhat less stressful for a homeowner to deal with a covered loss

Deductibles

An insurance deductible is the amount a homeowner is responsible for before their insurance company pays their claim. For instance, if a policyholder with a $500 deductible experiences a kitchen fire that causes $1,000 in damage, the insurance company would pay the policyholder $500 toward the cost of the repairs. The condo owner covers the remaining $500 of the cost in the form of their deductible.

Comparing deductible options is usually a big factor when shopping for homeowners insurance. Condo owners can often adjust an insurance policy’s deductible depending on their needs. In many cases, the higher the deductible, the lower the insurance premium. On the other hand, a homeowner with a low deductible may pay a higher premium for the same policy but will pay less out of pocket when filing a claim.

Additional Policies

Not all coverage types are available through endorsements to an existing condo insurance policy. Some types of coverage, such as earthquake insurance and flood insurance, often require a policyholder to purchase additional policies. For condo owners in areas prone to these events, it could make sense to purchase these separate policies to protect their investment.

For example, earthquake insurance is worth it for many homeowners in California because of the high rate of seismic activity in the region. Likewise, those living in flood-prone areas may want to purchase flood insurance in California to protect their condo. Standard condo insurance policies typically exclude coverage for floods, whether it’s due to a storm or heavy rainfall.

Other types of coverage exist for condo owners that extend beyond insurance. For instance, one of the best home warranties for a condo, such as one provided by American Home Shield or Select Home Warranty, could help a condo owner pay for expensive repairs to major appliances that result from age or wear and tear and wouldn’t be covered by insurance.

Discounts

Most of the best homeowners insurance companies in California offer discounts to help customers save money on condo insurance. The exact discounts a condo owner qualifies for can vary depending on the insurance company, policy type, and more. However, many condo owners find they qualify for one or more discounts to help lower their insurance costs.

When considering different policies, condo owners may want to ask an insurance agent or customer service representative about available discounts. The right discount could make a big impact on the cost of insurance premiums. A common way insurance companies provide savings is through a bundling discount. Bundling discounts help condo owners save money on their policies when they purchase other types of insurance through the same insurance company. For example, bundling condo and car insurance through one insurance provider could lead to a discount on premiums.

AM Best Rating

An AM Best insurance rating is a letter grade given to an insurance company by the AM Best company, a credit-rating agency that analyzes the financial health of insurance companies. This grade, ranging from A++ as highest to D as lowest, helps consumers better understand the financial health of an insurance provider. AM Best looks at income and balance sheets of various insurance companies to help determine their ratings. The healthier the company’s financials the higher the rating it receives.

In general, a high AM Best rating can indicate an insurance company has the financial ability to pay claims. This means a customer can feel fairly confident that their claims will be paid. However, not all companies have an AM Best rating, especially newer insurance providers.

Our Top Picks

Finding the best condo insurance company in Los Angeles, San Francisco, San Diego, or any other California city can take time. Condo owners can jump-start their insurance search by checking out our top picks, which were chosen based on their coverage options, affordability, and other factors.

Best Overall

State Farm

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• Quote process: Online, phone, agent
• Claims process: App, online, phone, agent
• Deductibles: $500 to $10,000
• Discounts: Multipolicy, claim record, home alert protection, automatic sprinklers
• AM Best rating: A++

Pros

• High $1 million personal property coverage limit
• High $1 million building property coverage limit
• Relatively low insurance premiums
• A++ AM Best rating

Cons

• High $10,000 deductible possible

Why It Made the Cut: State Farm gives condo owners in California high coverage limits for their personal belongings and their physical unit. California condo owners who have a lot of belongings may appreciate State Farm’s high coverage limits for personal property. Because they can purchase up to $1 million in coverage, those with a lot of possessions can get the peace of mind they want. Additionally, State Farm offers condo owners up to $1 million in building property coverage. This higher limit could be beneficial for condo owners who have made additions or alterations to their individual units and could make it easier for them to completely cover the interior of their unit. With high coverage limits, however, State Farm also has high deductible options. Although condo owners can choose a lower deductible, some might be tempted to opt for the high $10,000 deductible to lower premiums. In the event of a covered loss, owners would receive an insurance payout less their $10,000 deductible, meaning their insurance would in essence only provide coverage for certain catastrophic events. Luckily for California condo owners, State Farm also offers relatively low insurance premiums. The lower premiums compared to those of other insurance companies could make it possible for condo owners to opt for a more attainable deductible while still maintaining affordability. State Farm also boasts an A++ AM Best rating, which is the highest possible grade.

Runner-Up

Amica

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• Quote process: Online, phone
• Claims process: Online, phone
• Deductibles: $500 or $1,000
• Discounts: Multipolicy, paperless, autopay, automatic detection devices
• AM Best rating: A+

Pros

• Exclusive dividend policy option available
• Standard $50,000 loss assessment coverage
• High $50,000 water backup coverage available
• Standard identity fraud coverage

Cons

• Relatively high insurance premiums

Why It Made the Cut: Amica’s unique dividend policy option lets eligible condo owners get part of their premiums back as a dividend, which saves them money. Customers who qualify for Amica’s exclusive dividend policy option can get from 5 percent to 20 percent of their premiums back as dividends. This unique program helps condo owners save money by putting some of their premium payments back into their pockets. Condo owners have to meet certain eligibility criteria, such as enrolling in automatic payments, to qualify for the policy. However, California condo owners may have to pay higher rates with an Amica policy. This higher rate could lower the overall value of a dividend policy. Condo owners can see if they’re getting an affordable rate by comparing quotes from multiple insurance providers, including Amica. Those who choose Amica, however, can enjoy a range of benefits on their condo insurance. In addition to the unique dividend policy, Amica includes a $50,000 standard loss assessment coverage. This coverage helps pay for the cost of repairing damage to shared condo areas; for example, if the condo roof is damaged by a covered event, this loss assessment coverage would help to repair the owner’s portion of the roof. Many condo associations charge owners a fee to assess and repair damage to common areas, so this coverage could be helpful. Often, insurance companies will only offer loss assessment coverage as an added endorsement, and many have lower limits than what Amica offers as standard. Another premium feature of Amica condo insurance policies is the company’s standard $5,000 water backup coverage. Most policies exclude water backup from their standard coverage, whereas condo owners can increase Amica’s coverage up to $50,000. Finally, Amica condo insurance customers get access to identity fraud coverage as a standard feature of their policies. Other insurance companies usually require an additional fee for this type of coverage, which helps cover the cost of restoring a customer’s identity after fraud.

Best Discounts

Allstate

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• Quote process: Phone, agent
• Claims process: App, online, phone, agent
• Deductibles: $500 to $5,000
• Discounts: Multipolicy, welcome, loyalty, protective device, home buyer, automatic payments, early signing, claim-free, responsible payer
• AM Best Rating: A+

Pros

• High loss of use coverage of up to 100 percent of personal property coverage available
• Wide range of discount opportunities
• Wide variety of other policies available

Cons

• Online quote process not supported in California

Why It Made the Cut: Allstate makes it easier for condo owners to lower their premiums with a wide range of discount options. When comparing condo insurance options, many condo owners want to save money on their policy they choose. Allstate’s large discount program could make it easier for condo owners to cut down their insurance costs while still getting the coverage they need. Savings opportunities include bundling discounts and claim-free discounts. Customers can also save with discounts for paying their premiums on time or insuring a condo they just purchased. Condo owners who install deadbolts, fire extinguishers, and smoke detectors in their unit, to name a few, may also be eligible for a protective device discount. To find out which discounts might be available, however, California condo owners may have to jump through a few hoops. Allstate doesn’t support online quotes for California addresses. This could make it a little more difficult to get a quote for tech-loving condo owners who prefer to work online. The good news is Allstate has customer service representatives and a quote line where California residents can quickly request a quote over the phone. By speaking to a representative, condo owners can provide specific information about their insurance needs and receive a more tailored quote for coverage. When getting a quote over the phone, condo owners may want to ask about the high loss of use protection Allstate offers. Customers can get loss of use coverage equal to 100 percent of their personal property coverage. This helps pay for additional living expenses, such lodging or restaurant meals, if an owner’s condo is uninhabitable after a covered loss. In addition to high loss of use coverage, Allstate gives condo owners lots of bundling options through many different policy types. Allstate provides coverage for boats and RVs, and it also offers flood insurance, which could be helpful for California residents. Having all of their insurance with one company can make it easier for condo owners to manage their policies.

Best for Service Members

USAA

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• Quote process: Online (for USAA members), phone
• Claims process: App, online, phone
• Deductibles: Unknown
• Discounts: Multipolicy, protective device, claim-free
• AM Best rating: A++

Pros

• High $50,000 loss assessment coverage
• Standard identity fraud coverage
• A++ AM Best rating

Cons

• USAA membership limited to service members and their families
• Unknown deductible options

Why It Made the Cut: USAA’s high loss assessment coverage makes it a great choice for veterans and service members looking for condo insurance. USAA provides condo and homeowners insurance for veterans, service members, and eligible family members. Eligible USAA members may want to consider the company for their condo insurance in California thanks to the high loss assessment coverage provided. This coverage helps reduce the cost a service member pays if damage happens to the shared spaces of their condo building. For example, this coverage could help cover the condo owner’s portion of roof repairs to the entire condo complex. Not everyone is eligible for USAA coverage, however. By limiting membership to veterans and military service members and their families, USAA focuses on providing top-quality service for eligible members. This means civilians won’t qualify for coverage from USAA. Additionally, it’s hard to tell what deductible options USAA offers for condo insurance. Members may have to call for more details on their condo insurance deductible options. Despite the limiting eligibility factors, those who do qualify for USAA insurance may find it’s one of the best options for coverage. Along with the loss assessment coverage, USAA also includes $5,000 in identity theft coverage that comes standard with condo insurance policies. This protection helps service members and their families cover the costs associated with restoring their identity after fraud, such as legal fees. In addition, USAA’s highest AM Best rating of A++ can help give customers peace of mind that covered claims will be paid.

Also Consider

Farmers Insurance

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• Quote process: Online, phone, agent
• Claims process: Online, phone, agent
• Deductibles: $500 to $5,000
• Discounts: Multipolicy, protective device, non-smoker, claim-free, occupation
• AM Best rating: A

Pros

• High $1 million building property coverage limit
• High loss of use coverage of up to 100 percent of personal property coverage available
• Earthquake coverage add-on available

Cons

• Low $200,000 personal property coverage limit
• Relatively low “A” AM Best rating

Why It Made the Cut: California condo owners might want to consider Farmers Insurance for the ability to add earthquake coverage as an add-on, not a separate policy. Earthquake coverage isn’t standard on most homeowners or condo insurance policies. For California residents, however, having earthquake coverage could be important because of the high levels of seismic activity in the region. Farmers Insurance makes it easy for customers to get the coverage they want by offering earthquake insurance as an add-on to their policy. Most insurance companies require customers to take out a separate policy for earthquake coverage. Being able to add it directly to an existing condo policy could make it easier for condo owners to manage their coverage. Farmers also offers a high loss of use coverage up to 100 percent of the personal property coverage limit. Condo owners can choose to have this coverage pay for living expenses for up to 24 months. However, the maximum personal property limit Farmers offers is only $200,000, which is a bit lower than the coverage offered by competitors. Still, for those who have fewer belongings, the $200,000 coverage limit could be more than adequate to cover their property. On the other hand, Farmers offers fairly high building property coverage to help condo owners repair covered damage to the physical structure of their unit, such as its floors and walls. With up to $1 million in coverage as an available option, condo owners who have a high-value property may find this coverage limit will provide more complete coverage. Farmers also offers discount opportunities to condo owners with certain occupations, such as teachers, doctors, and firefighters, which can help lower the cost of coverage.

Our Verdict

State Farm is our Best Overall pick for condo insurance in California thanks to its high coverage limits for building coverage and personal property. Amica is our Runner-Up choice because it’s a top choice for condo owners looking to get premium coverage and receive part of their premiums back as dividends.

How We Chose the Best Condo Insurance Companies in California

Determining the best condo insurance companies in California takes extensive research to find the companies that offer a good mix of affordability, discounts, deductible and policy options, and coverage options. When looking at companies for this list, we considered a number of factors. One of the main factors we consider is the type of coverage available as well as coverage limits. This includes looking at both the standard coverage and any add-ons or endorsements available for customers.

Other factors that helped us pick the companies on this list included the average cost of premiums and any discounts offered by the companies. Deductible options also played a role in choosing the best condo insurance companies, as the deductible amount can potentially change the overall cost of a policy. Finally, we reviewed the quote and claims process, as well as the AM Best rating for each company, to get a sense of overall customer service and financial health.

Before You Choose One of the Best Condo Insurance Companies in California

Picking an insurance company often requires homeowners to look into multiple policies, options, and providers. While this list is a great starting point for California condo owners, it’s recommended that shoppers consider their own unique circumstances when choosing an insurance company. This could include physical properties of their condo, such as age or location, as well as insurance-related factors, such as claims history or the length of time a customer has been with a company.

Getting multiple insurance quotes is often the best way for condo owners to find a policy that works for them. Many condo owners in California might find the best mix of coverage and affordability from one of the companies on this list. However, insurance isn’t a one-size-fits-all proposition. Condo owners will want to consider all of their options to find the policy that works for them.

Cost of Opting for One of the Best Condo Insurance Companies in California

Condo owners looking for cheap homeowners insurance in California may want to consider how well a cheap policy protects their homes. Many homeowners are tempted by the cheapest available option, only to find out they don’t have enough coverage when they find they need to file a claim. Rather than looking only at the cost of premiums, condo owners are encouraged to consider a policy’s affordability, discount eligibility, deductible options, and overall coverage limits. This gives them a better chance of finding a policy that provides a balance of cost savings and adequate coverage.

With higher property values in California, the average cost of homeowners insurance in California can be higher than in other states. Homeowners in California can use discounts to help lower their insurance costs, such as bundling policies. Additionally, many condo owners find the best price on homeowners insurance by shopping around. Requesting quotes from multiple companies can help condo owners compare the costs and benefits of each and get the right coverage for the right price.

The Advantages of Opting for One of the Best Condo Insurance Companies in California

California condo owners may want to get multiple quotes from different insurance companies to find the right policy for their home. Getting multiple quotes helps condo owners determine which companies offer the coverage they need and lets them compare prices among carriers. Many condo owners are likely to find that one of the best condo insurance companies in California provides the right mix of benefits and savings. A condo insurance policy offers the following advantages:

• High available coverage limits for personal property, building, and loss assessment coverage;
• Numerous add-on coverage options, such as identity theft protection, earthquake coverage, and water backup coverage; and
• Customizable policy deductibles and discounts on rates to help policyholders keep the cost of coverage within their budget.

FAQs

Many homeowners feel overwhelmed when choosing an insurance policy for their condo. When shopping for California hazard insurance, which is another name for homeowners insurance, condo owners often have questions. Addressing the most common questions from condo owners can help others determine how to shop for the policy that’s best for their needs.

Q. Is condo insurance required by law in the state of California?

The state of California doesn’t require condo insurance. However, mortgage lenders generally require borrowers to carry homeowners insurance to secure a mortgage.

Q. How long does it take before condo insurance coverage starts in California?

Once approved for a policy, condo owners can often choose their policy start date. Many homeowners choose a start date that is the same as the day they take ownership of the condo.

Q. What are the biggest factors that influence condo insurance costs in California?

Location can play a large role in the cost of homeowners insurance for a condo owner. Other factors include the coverage amount, deductible amount, any policy add-ons, and the owner’s claims history.

Q. What does condo insurance cover in California?

As a type of homeowners insurance, condo insurance covers the interior structure, like the walls and floors, of a condo. It also usually covers personal belongings, liability, medical payments to others, and loss of use if the condo is uninhabitable for a time. However, condo insurance does not cover floods; instead, condo owners will want to consider a policy from one of the best flood insurance companies if they live in an area at risk of flooding.

Q. Is condo insurance in California paid annually or monthly?

Condo insurance can usually be paid annually or monthly. Many condo owners with a mortgage pay their insurance premiums monthly through their escrow account.

Q. How long does condo insurance coverage last in California?

Most insurance policies last 1 year, although many companies let condo owners automatically renew their policies for another year.