Why You Need Homeowners Insurance in California

Living in a city like Pomona, CA comes with many perks, but a disaster-free zone is not one of them. California is known for its sunny skies and frequent earthquakes. You cannot take a chance on going without homeowners insurance in a region such as this.

Sunny Today, Shaky Tomorrow

California sits on the large and potentially destructive San Andreas Fault. You can quickly go from a vibrant homeowner to someone without a place to lay his head if a violent earthquake sweeps through the state and triggers what many call the sleeping San Andreas giant. While homeowners insurance cannot safeguard against all financial loss, it can ensure that the value of your home is credited back to you and your family.

A Lawsuit is Lurking

Many tourists visit the region throughout the year, and some come with the preconceived notion that all Californians are wealthy. You should not discount the probability of lawsuit simply because you live in Pomona, CA and not Hollywood. Homeowners insurance pays for court proceedings and settlement in the instance of you being found liable in a lawsuit.

The Bank Says You Must Be Insured

The lender is always looking out for its interests, which means that it will require proof of homeowners insurance. Some banks in California even require borrowers to obtain earthquake coverage so that the cost of the loan will be covered should a tragedy take place.  Homes located in areas where wildfires often occur may also require additional insurance for damages caused by fire.

Don’t Get Caught Uninsured

No one is going to twist your arm and force you to obtain homeowners insurance after paying off your loan. It is, however, in your best interest to maintain assurance that reimburses the value of your investment instead of preceding indemnity and coming up empty.