State Farm may be dropping your homeowners’ insurance: here’s other options
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SAN DIEGO (FOX 5/KUSI) — Homeowners in 50 San Diego County zip codes are getting the boot from State Farm, leaving many wondering where to turn for insurance policies.
More than 2,000 local policyholders, who live in areas from El Cajon to Lakeside and Jamul, will lose their protection when their current contracts expire. This will begin during the summer months.
For those now shopping around to find their next home insurer, there are a handful of providers that U.S. News & World Report listed as the best in the region. Here’s a look at those options, along with each company’s star rating with five being the best and one being the worst:
With a 4.1-star rating, U.S. News said Amica has many available discounts, including customer loyalty, claim-free, autopay and automatic detection service. Bundling insurance options are also available.
“Another interesting option is the dividend policy, which costs more upfront but may return a portion of the premium (5% to 20% on average, according to Amica’s website) to policyholders,” U.S. News stated in the review.
This insurance company was given a 3.9-star rating by U.S. News. One pro, as mentioned on the review, is that replacement cost coverage and identity theft protection are included with standard homeowners insurance policies.
There is one major requirement for this insurance company that may disqualify a lot of homeowners. Those seeking a policy need to be a military member, veteran, or military family member to get their insurance.
With a 3.8-star rating, this insurance company has several additional coverage options, according to U.S. News. This includes flood insurance, identity theft, better roof replacement and earthquake insurance
“With Nationwide, if your home suffers damage or loss due to a covered peril, the standard policy will fix or rebuild to be current with San Diego building codes,” the publication noted in the review. “You’ll also get credit card coverage with a standard policy.”
This company was give a 3.7-star rating and was described by U.S. News as having “lots of optional coverages” like extended reconstruction cost, swimming pool, water backup and buried utility coverage.
Lemonade is an almost entirely online insurer, meaning everything from signing up, managing your account, and filing claims will be done through the website or app. This is something to keep in mind for those why may be less tech-savvy.
This company was also give a 3.7-star rating, with U.S. News highlighting its water backup and replacement cost coverage which is part of its standard policy. Chubb also has its own flood insurance program,
“The company’s Masterpiece Homeowners policy includes extended replacement cost, which means bringing your home back to its original condition and to current San Diego building codes – even if it costs more than your policy’s limit,” the publication stated in the review.
According to State Farm, San Diego County homeowners who will be impacted by dropped insurance coverage will be notified between July 3 and Aug. 20. In the meantime, it might be wise to start shopping around.
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