Lakewood Homeowners Insurance

Lakewood homeowners insurance policy owners may be the beneficiaries of nice weather throughout the year, but they can be at the mercy of the California housing insurance market. The state market has had its share of highs and lows historically, and it's mainly because of the specter of major damage. Natural disasters have been a part of coastal life for Lakewood homeowners insurance policyholders for decades.

So despite the sun and surf throughout the year, buying a house near Los Angeles and the Pacific Ocean isn't as wonderfully perfect as those who want to become Lakewood homeowners insurance policyholders would think. All those so-called experts who think they know anything about the Pacific coast can talk about the earthquakes and fault lines. However, the more tangible possibility for danger in the Lakewood homeowners insurance policyholder's life is in the basement of the new, shiny home.

While the housing market isn't as tied to the weather as much as you would think, prospective homeowners must always be aware of possible dangers to that home, no matter how lovely the weather is or as near to a major city like Los Angeles it is. As the monetary value of a Lakewood, CA home averages near $200,000, reading through all your payout options in case of disaster is key for a happy home and protecting your major investment in Lakewood instant homeowners insurance policy. Read on for more info and a handful of tips that will get the most out of your policy!

Rebuilding For Homeowners: Policy Payout Options

Sure, the weather is beautiful in California, but Lakewood homes in CA aren't easily protected should Mother Nature or the San Andreas Fault decide to get angry and take it out on unsuspecting owners. As Lakewood is near the Pacific Ocean and only slightly more than 250 feet above sea level, there is always potential for serious flooding, on top of Lakewood homeowners greatest fear: the Big One, a major earthquake. So Lakewood homeowners insurance costs reflect the hidden and tangible danger of living along the coast.

What happens if disaster strikes? What if homeowners do suffer a serious flood thanks to the typical fall California weather? While the weather can be far more temperate than, say, a snowbound New York in December, rainstorms can soak the Pacific coast and put basements up and down CA at risk all winter. It almost makes those poor souls that live in the Northeast snow belt jealous, almost. (At least snow is almost never life threatening. Some would figure that's a tradeoff for 70 degree temperatures in January.)

How will you get the money owed on your Lakewood homeowners insurance policy when you're slogging through three inches of water in your basement? The first option is to take a lump sum payout, where displaced homeowners receive all that they're owed right away. The second option is in case of a major natural disaster, insurance companies will advance payments to homeowners in desperate need to start that major rebuilding project after a rainstorm.

If your situation is not that dire, your policy lender can is allowed to issue other possible options. All of them are tied to the homeowner's income. Various options abound - you can tie the payout to the insurance policy's interest or you can set the amount to be paid out for the rest of your life (and it can even be passed on in rare situations). In any case, if you need insurance money, there are plenty of options out there for you to get the owed amount.

The Claims Process: How To Get Insurance Money

So you're a Lakewood homeowners insurance policy owner who suffered a flooded basement after a particularly brutal rainstorm, and you're looking to get your money. How do you file a homeowners claim? First, notify your insurance agency about the claim on your Lakewood home. This shouldn't be difficult, especially if there is a major event. They'll know claims are coming, so extra staff should be on and prepared for a rush on insurance claims.

Secondly, start the repair process right away while waiting for your money. Make simple repairs - patch holes in the roof and so on. Make a list of major repairs that would be covered by the settlement, and keep all receipts. It seems like an obvious issue to harp on about, especially in light of major damage. But it's necessary, just in case there are problems with the contractors on your home.

With the options available to policy holders, suffering damage to your Lakewood home may not be as disastrous as feared. Behind the multitude of payment possibilities and easy claims process, Lakewood homeowners insurance policy holders are prepared just in case Mother Nature gets ornery.

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