It can be difficult, and it is more expensive to insure a home located in what homeowner insurance companies deem to be of high risk. Many agencies are willing to provide insurance in these areas.
Who are Considered High-Risk Homeowners?
The areas that have more exposure to natural disasters such as floods, earthquakes, and brush fires are considered high-risk areas. It makes these Homeowners’ more likely to experience an insurance claim.
In California, damage caused to a home by a brush fire is always a threat. Like most states, California has a funded insurance plan for those who reside in the “brush areas.” It is known as the California Fair Plan (Fair Access to Insurance Requirements). The coverage is very basic, fire, windstorm damage, vandalism, civil commotion, explosion, smoke, and hail.
What Kind of Coverage Does Homeowners’ Insurance Provide?
Unlike the standard Homeowners insurance policy near you does not provide for theft of your personal property or Third Party Personal Liability. If you want to obtain those coverages, a separate policy would have to be purchased. It is referred to as a Difference -in- Conditions policy or a Homeowners Wrap-Around policy, and they are two different policy forms.
Does It Provide Coverage Policy for Homeowners Impacted by a Wildfire?
Most reliable insurance companies will provide a standard or full Homeowner policy to you. If a wildfire has impacted you in your area, you will most likely face a non-renewal of your current Homeowners’ insurance policy. Your company has determined that the property is uninsurable, and they will drop your coverage. That does not mean that you cannot find suitable affordable coverage.
You do need a knowledgeable agent to represent you. The purchase of homeowners’ insurance can be complex, and you need to be sure of what you are buying. Do not try to do this on your own by shopping websites. You could find yourself without the right kind of coverage when a loss happens.
Visit Makar Insurance Agency at 1130 La Brea Ave, West Hollywood, CA 90038, to get started on tailored homeowners’ Insurance coverage. Our team would like to help you with your insurance needs.