Global Major Cities Guide

An introduction to common types of insurance such as health, auto, renters, and travel insurance available to residents.

Sections

1. Health Insurance

Health insurance is essential in the U.S., as medical care can be extremely expensive without it. In San Francisco, you have several options depending on your residency status, income, and employment.

Options for Health Insurance

Employer-Sponsored Insurance: Many employers in San Francisco offer health insurance as part of their benefits package. This is often the most affordable option since employers typically cover a portion of the premium.
Covered California: California’s state-run health insurance marketplace (part of the Affordable Care Act). You can compare plans and apply for subsidies if you qualify based on income.
Medi-Cal: California’s Medicaid program for low-income individuals and families. If you meet the income requirements, you can get free or low-cost health insurance.
Private Insurance: If you don’t qualify for employer-sponsored insurance or government programs, you can purchase private insurance directly from providers like Kaiser Permanente, Blue Shield of California, or Anthem.

Expected Costs

Employer-Sponsored Plans: $200–$500/month (employee contribution).
Covered California Plans: $300–$700/month (before subsidies).
Medi-Cal: Free or very low cost.
Private Insurance: $400–$1,000/month, depending on coverage.

How to Obtain Health Insurance

Through an Employer: Enroll during your company’s open enrollment period or when you start a new job.
Through Covered California: Visit www.coveredca.com to compare plans and apply.
For Medi-Cal: Apply through Covered California or directly at your local county office.
Private Insurance: Contact insurance companies directly or use a broker.

Local Considerations

San Francisco has a Healthy San Francisco program for uninsured residents. While not traditional insurance, it provides access to affordable healthcare services for those who qualify.
Many tech companies in San Francisco offer comprehensive health benefits, including dental and vision coverage.

2. Auto Insurance

If you own or drive a car in San Francisco, auto insurance is mandatory under California law. The city’s dense traffic and high accident rates make it especially important.

Minimum Coverage Requirements in California

Bodily Injury Liability: $15,000 per person / $30,000 per accident.
Property Damage Liability: $5,000.
Optional but recommended: Uninsured/underinsured motorist coverage, collision, and comprehensive coverage.

Expected Costs

Minimum Coverage: $50–$100/month.
Full Coverage: $150–$300/month, depending on your driving record, age, and vehicle.

How to Obtain Auto Insurance

Compare quotes from providers like Geico, State Farm, Progressive, or Allstate.
Provide your driver’s license, vehicle registration, and personal information.
Pay the first premium to activate your policy.

Local Considerations

Parking in San Francisco is limited, and theft rates are relatively high. Consider comprehensive coverage to protect against theft or vandalism.
If you don’t drive often, look into pay-per-mile insurance options like Metromile, which can save money for infrequent drivers.

3. Renters Insurance

Renters insurance is not legally required in San Francisco, but many landlords may require it as part of the lease agreement. It protects your personal belongings and provides liability coverage.

What Renters Insurance Covers

Personal property (e.g., furniture, electronics) in case of theft, fire, or water damage.
Liability protection if someone is injured in your rental unit.
Additional living expenses if your home becomes uninhabitable due to a covered event.

Expected Costs

$15–$30/month, depending on the coverage amount and deductible.

How to Obtain Renters Insurance

Compare quotes from providers like Lemonade, State Farm, or Allstate.
Provide details about your rental property and the value of your belongings.
Choose a policy and pay the first premium.

Local Considerations

San Francisco is prone to earthquakes, but standard renters insurance does not cover earthquake damage. Consider purchasing a separate earthquake insurance policy if you’re concerned about this risk.

4. Homeowners Insurance

If you own property in San Francisco, homeowners insurance is essential to protect your investment. Mortgage lenders typically require it.

What Homeowners Insurance Covers

Damage to your home and personal property from fire, theft, or certain natural disasters.
Liability protection if someone is injured on your property.
Additional living expenses if your home becomes uninhabitable.

Expected Costs

$1,000–$2,500/year, depending on the home’s value, location, and coverage.

Local Considerations

Standard policies do not cover earthquake damage. Given San Francisco’s location near fault lines, consider purchasing earthquake insurance through the California Earthquake Authority (CEA).

5. Earthquake Insurance

San Francisco is in a high-risk earthquake zone, so earthquake insurance is worth considering for both renters and homeowners.

What It Covers

Structural damage to your home.
Replacement of personal belongings.
Additional living expenses if you need to relocate temporarily.

Expected Costs

$800–$5,000/year, depending on the property’s value, location, and construction type.

How to Obtain Earthquake Insurance

Most homeowners and renters insurance providers offer earthquake insurance as an add-on or through the California Earthquake Authority.

6. Travel Insurance

If you’re visiting San Francisco, travel insurance can protect you against trip cancellations, medical emergencies, and lost luggage.

Expected Costs

$50–$200 per trip, depending on coverage and trip length.

How to Obtain Travel Insurance

Purchase through providers like Allianz, World Nomads, or your airline.

7. Life Insurance

Life insurance is not specific to San Francisco but is worth considering if you have dependents or financial obligations.

Expected Costs

Term Life Insurance: $20–$50/month for a healthy individual.
Whole Life Insurance: $100–$300/month.

How to Obtain Life Insurance

Compare quotes from providers like Prudential, Northwestern Mutual, or New York Life.
Undergo a medical exam if required.

General Tips for Obtaining Insurance in San Francisco

Shop Around: Use comparison websites like Policygenius or NerdWallet to find the best rates.
Bundle Policies: Many providers offer discounts if you bundle multiple policies (e.g., auto and renters insurance).
Understand Deductibles: Higher deductibles lower your premium but increase out-of-pocket costs in the event of a claim.
Ask About Discounts: Many insurers offer discounts for good driving records, home security systems, or paying annually instead of monthly.

Local Resources and Assistance

San Francisco Department of Insurance: Provides consumer assistance and information on insurance regulations. Visit www.insurance.ca.gov.
Healthy San Francisco: For uninsured residents. Visit www.healthysanfrancisco.org.
California Earthquake Authority: For earthquake insurance. Visit www.earthquakeauthority.com.

By understanding these insurance options and local considerations, you’ll be well-prepared to navigate life in San Francisco with peace of mind. Let me know if you’d like further details on any specific type of insurance!