Homeowners in California may be paying some of the lowest home insurance rates when compared to the rest of America, but a new guide published by insurance quote comparison site ExpertInsuranceReviews.com reveals that there are a lot of strings attached to such deals.
According to ExpertInsuranceReviews.com, the average monthly premiums in California are $84 – lower than the national average of $101. Other California-specific findings of the insurance comparison site include:
- State population – 39,512,223
- Median Home Price – $492,080
- Homeownership Percentage – 54.80%
- Biggest Home Insurance Company – State Farm
- Average Annual Rate $1,008
- Direct Premiums Written Annually – $8,365,295
- Homeowners Insurance Incurred Losses – $56,835,067
