Help with Home Insurance SoCal

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
Post Reply
Topic Author
FD234
Posts: 58
Joined: Fri Aug 22, 2014 2:29 pm

Help with Home Insurance SoCal

Post by FD234 »

Hello - I am lost and hoping you can help me.

We recently purchased a house in Encino, CA and having a tough time insuring the property (House size 2,700 Sqft, lot size 11K Sqft). This will be our primary house. House was built in 1961 and in decent shape (major renovation in 2010). All the big providers like Mercury, Gieco, Progressive, Amica and not letting me insure citing fire risk. House is in a residential neighborhood with no brush surrounding the property. There is no vacant land next to the property too. My only option seems to be CA fair plan + secondary plan but this is a very expensive option ($6K). Can you suggest any alternatives I should be pursing.

Thanks
123
Posts: 10416
Joined: Fri Oct 12, 2012 3:55 pm

Re: Help with Home Insurance SoCal

Post by 123 »

Also consider the unexciting insurance companies that your grandparents may have used. Check with Jake at State Farm or the Mayhem Man at Allstate.
The closest helping hand is at the end of your own arm.
quietseas
Posts: 901
Joined: Fri Dec 27, 2013 3:43 pm

Re: Help with Home Insurance SoCal

Post by quietseas »

Are you working with an insurance broker? That may help find a policy although you might not like the cost.
You may end up with an insurer you've never heard of.
Topic Author
FD234
Posts: 58
Joined: Fri Aug 22, 2014 2:29 pm

Re: Help with Home Insurance SoCal

Post by FD234 »

I am working with couple of insurance brokers and they are not able to help too
TPIR
Posts: 106
Joined: Fri Nov 01, 2019 6:12 pm

Re: Help with Home Insurance SoCal

Post by TPIR »

$500/month all in to insure a home that probably sold for $2mn+ doesn't sound horrible. Encino is bordered on two sides by a big swath of wildlands. What deductible are you assuming?
Topic Author
FD234
Posts: 58
Joined: Fri Aug 22, 2014 2:29 pm

Re: Help with Home Insurance SoCal

Post by FD234 »

quietseas wrote: Tue Aug 09, 2022 10:06 am Are you working with an insurance broker? That may help find a policy although you might not like the cost.
You may end up with an insurer you've never heard of.
$3,500 deductible
TPIR
Posts: 106
Joined: Fri Nov 01, 2019 6:12 pm

Re: Help with Home Insurance SoCal

Post by TPIR »

Sounds pretty reasonable for a low deductible. FAIR plan has come a long way!

Maybe consider changing the deductible if you can't find another carrier and don't like the monthly payment. Or playing around with personal property vs home rebuild coverage amounts. Some people get over insured on the personal belongings side.
Big Dog
Posts: 4608
Joined: Mon Sep 07, 2015 4:12 pm

Re: Help with Home Insurance SoCal

Post by Big Dog »

User avatar
Beensabu
Posts: 5658
Joined: Sun Aug 14, 2016 3:22 pm

Re: Help with Home Insurance SoCal

Post by Beensabu »

Try Foremost if you need high-risk coverage -- they're under Farmers Insurance.
"The only thing that makes life possible is permanent, intolerable uncertainty; not knowing what comes next." ~Ursula LeGuin
Bwise1
Posts: 45
Joined: Sat Oct 24, 2015 12:23 pm

Re: Help with Home Insurance SoCal

Post by Bwise1 »

I am in your area and backup directly to open space/brush. We are as fire hazard as it gets. We have never had a problem with fire insurance through State Farm.

Not sure if it matters but we have all insurance through them. Fire, Home, Car, Earthquake, & Umbrella.

PM me if you would like our agent.
Topic Author
FD234
Posts: 58
Joined: Fri Aug 22, 2014 2:29 pm

Re: Help with Home Insurance SoCal

Post by FD234 »

I will try StateFarm and Farmers.

Problem I am having is that recently some designation changed where they are tagging Encino as a fire danger area and all the carriers stopped providing insurance.
cowbman
Posts: 638
Joined: Sat Jan 14, 2017 1:10 pm

Re: Help with Home Insurance SoCal

Post by cowbman »

Foremost is Farmer's high risk
Topic Author
FD234
Posts: 58
Joined: Fri Aug 22, 2014 2:29 pm

Re: Help with Home Insurance SoCal

Post by FD234 »

Farmers rejected the property.
123
Posts: 10416
Joined: Fri Oct 12, 2012 3:55 pm

Re: Help with Home Insurance SoCal

Post by 123 »

FD234 wrote: Tue Aug 09, 2022 9:36 pm ...Problem I am having is that recently some designation changed where they are tagging Encino as a fire danger area and all the carriers stopped providing insurance.
The Los Angeles Fire Department has a Fire Zone Map https://www.lafd.org/fire-prevention/br ... e-zone-map and there are new home-buyer disclosure requirements https://www.lafd.org/fire-zone

Much of the Encino area is included in the fire zone area along with I'm sure far over 10,000 properties in the foothills of the cities. Much of the area included in the fire zone would be considered a normal residential areas, I am sure many residents would be surprised to learn they are included.

While I don't have any direct advice for the OP I would think the situation would put a considerable slow-down on real estate sales if individuals are not able to get fire insurance for a mortgage on a new property. I can understand that insurance companies could decide to renew policies but to not write new policies.

Perhaps the OP could ask the real estate agent they used for some guidance, the OP's situation is likely not unique.
The closest helping hand is at the end of your own arm.
User avatar
enad
Posts: 1581
Joined: Fri Aug 12, 2022 2:50 pm

Re: Help with Home Insurance SoCal

Post by enad »

When I lived in SoCal, I used Amica. You can also look at putting your automobiles and even get an Umbrella policy. When I did that the auto policy and homeowner's policy were reduced since the Umbrella provided that extra boost in coverage for very little money. You can take this approach with State Farm or possibly other insurance companies.
What Goes Up Must come down -- David Clayton-Thomas (1968), BST
User avatar
Beensabu
Posts: 5658
Joined: Sun Aug 14, 2016 3:22 pm

Re: Help with Home Insurance SoCal

Post by Beensabu »

FD234 wrote: Thu Aug 11, 2022 8:43 pm Farmers rejected the property.
Wow. Have you tried knocking on your neighbors' doors and asking which carrier they use? If nothing else, it'll be a heads up to them that they might get dropped in a year or so, which most people would appreciate. And maybe you'll get a lead.
"The only thing that makes life possible is permanent, intolerable uncertainty; not knowing what comes next." ~Ursula LeGuin
nanciT
Posts: 174
Joined: Sat Jan 11, 2020 8:38 am

Re: Help with Home Insurance SoCal

Post by nanciT »

We are in Northern CA and were cancelled by AAA 3 years ago. State Farm was one of two that would insure us 3 years ago and we have stayed with them. Most people in our area are posting on Nextdoor (community site) their policies have soared since the fires. Although we are not in the mountains or anywhere near Santa Cruz , we do have alot of trees around.
Our's went up a great deal so we went through each item and had to increase deductible. We also lowered insurance on contents which we feel is reasonable.

My recent experience with my Mom's total loss in Santa Cruz was a big education for me. It's worth taking the time to go through a new policy by line items.
Post Reply