Like almost everything in real estate, depending on who you talk to, you could get extremely different answers. Additionally, the cost of insurance varies based on the actual house you are insuring. Is it single or multi-level. Is it in a high fire or flood zone? Does it have a wood shingle roof? How many square feet of living space? Are you in the Torrance Soils Area? Etc, etc, etc. All that being said, you can probably estimate your Home Owner's Insurance at $700 - 1000 per year.
To get a more accurate number, speak with an insurance agent. They regularly give out estimates of premiums and can discuss the various coverages you might need based on the types of homes you are looking at. If you are looking for an insurance agent who specializes in the South Bay and can give you specific information regarding the various areas in Torrance and/or Redondo, call PV Peninsula Insurance, Jose Villasenor. His office number is 310-802-2662 and his direct/mobile number is 310-941-7029. He will be happy to help you out.
Good luck in your search for a great home in the South Bay. If you would like more information about our wonderful area and are not already working with a great agent, feel free to contact me. We are starting to see some good deals and many normal (not bank owned or short sale) listings in this area. Your home is definitely out there, Dare to Dream.
Shel-lee Davis, CDPE
Your Real Estate Consultant for Life
RE/MAX Palos Verdes Realty