Help with Home Insurance SoCal
Help with Home Insurance SoCal
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
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
Re: Help with Home Insurance SoCal
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.
Re: Help with Home Insurance SoCal
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.
You may end up with an insurer you've never heard of.
Re: Help with Home Insurance SoCal
I am working with couple of insurance brokers and they are not able to help too
Re: Help with Home Insurance SoCal
$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?
Re: Help with Home Insurance SoCal
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.
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.
Re: Help with Home Insurance SoCal
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
Re: Help with Home Insurance SoCal
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.
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.
Re: Help with Home Insurance SoCal
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.
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.
Re: Help with Home Insurance SoCal
Foremost is Farmer's high risk
Re: Help with Home Insurance SoCal
Farmers rejected the property.
Re: Help with Home Insurance SoCal
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.
Re: Help with Home Insurance SoCal
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
Re: Help with Home Insurance SoCal
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
Re: Help with Home Insurance SoCal
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.
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.