California Homeowners Insurance
California homeowners insurance is the coverage of your residence in the event of a natural disaster. There is a wide variety of policies available to fit your needs. No matter whether you are the owner of an old Hollywood home in Palm Springs, CA, or have a cottage in Camarillo, CA, you will enjoy the peace of mind California homeowners insurance can provide.
Basic homeowners coverage covers you for a variety of perils including fire, vandalism, riots, or personal liability. Personal liability is needed when the owner accidently injures someone not living in the house with him or her, or damages his or her property at either the home or somewhere else. This coverage can include medical, legal, and physical damage to property. There are several items not covered in a basic California homeowners insurance policy that need to be considered. The following paragraphs will identify these provisions and help you understand if they apply to you.
Types of Provisions
CA is a state where there are many perils from natural disasters. These include fires, floods, earthquakes, and mold. Because of these additional perils, there are provisions available to you that can be added to your California homeowners insurance policy to protect you.
Insurers are required to offer homeowners earthquake insurance coverage for an additional premium. The coverage for an earthquake may be written by the insurer, or by the California Earthquake Authority. Although it may increase your premiums, earthquake policies are necessary if you live in California. If your home is damaged in an earthquake and you have not added this provision, you will not receive compensation for the damage.
Floods and fires are common in California. Although most general homeowners policies will cover you in the event of a fire, most exclude flooding. Fortunately, you can purchase flood insurance to add to your homeowners policy. This would cover your home and personal belongings in the event of a flash flood that can be devastating to your home.
Another occurrence, although not as common, is a Typhoon. California homeowners insurance policies do not cover typhoons so you will need to add it in as a provision. You are not required to carry typhoon insurance, but you may want to consider it since the damage from one could be extensive.
Decreasing Your Risks
There are many ways to save on premiums in California. Items such as installing storm shutters, adding smoke detectors, and installing deadbolt locks on the exterior doors are some inexpensive ways to save. In addition, you might want to consider the following ideas to help you lower your premiums.
Reinforcing your roof against possible wind damage is one way of saving on your California homeowners insurance. You might also consider retrofitting your home to better withstand earthquakes. Although these changes may be slightly costly, the benefits of your home's safety and your savings on your premiums far outweigh the costs.
Many other options available that can help you decrease your risks and thus lower your premiums of your California homeowners insurance. Talk to your representative to determine what is available for discounts and take advantage of the savings. Do not hesitate to ask for senior or military discounts as well.
Finding Homeowners Policies
Once you have determined your risks and assessed your values, you are ready to find a California homeowners insurance policy to fit your needs. Your homeowners policy costs will be determined by where you live, risks, age of home, credit history, and your deductibles. You will want to shop around for the right coverage for you. Not all policies are the same so make sure to compare them and do not assume that the least expensive is the best rate.
Look for credited insurance carriers that are licensed to insure in the state of California. When you review your policy needs with your provider, discuss the option of lumping all of your policies together to give you deeper discounts on them all. Discuss the available provisions you can add to your plan and ask which ones are right for you. By doing your homework and identifying your needs and the carriers you want to work with, you will find an insurance policy that will provide you with the coverage you need at an affordable rate.
Although shopping for California homeowners insurance can be challenging, you now have the information you need to find a comprehensive plan that fits your needs. Be sure to review your policy periodically to ensure it still fits your needs. There are many California insurance policies available. Shop around and get several quotes. Compare rates and policies carefully. Your insurance on your home will be one of the best investments you can make to protect your residence and your belongings.