Home Insurance Agency - California
Many people scoff at the idea of having homeowners insurance until they need it most. From natural disasters such as wildfires and mudslides to electrical fires and accidents resulting in structural damage, there’s plenty that could happen to your home that makes having solid coverage worthwhile.
Whether you’re a long-time homeowner in California, or if you’ve purchased your very first home, it’s important to understand the ins and outs of an average California homeowners policy:
- Unlike auto insurance, it’s not mandatory to carry homeowners insurance. However, your lender may require you to have coverage as a condition of your mortgage. This way, both you and your lender have protection against unforeseen circumstances.
- Although your insurance policy covers a lot of things, there may be a few exceptions. For instance, you may have to purchase a separate flood insurance policy, as most insurers do not include it with their regular homeowners coverage.
- Whether your policy will completely and totally replace your home in the event of a loss depends on whether it’s a “replacement cost value” policy (which covers the actual costs of complete replacement) or an “actual cash value” policy (which only offers the fair market value or policy limit, whichever is less).
- Homeowners who are not able to find adequate coverage on the open market may be eligible to receive special coverage under the California Fair Access to Insurance Requirements (FAIR) Plan. This step is usually a last resort for homeowners. Under most circumstances, independent agencies like THINK Ins. & Financial Services can help customers find and compare quotes for affordable insurance plans from a broad range of carriers.
A solid homeowners insurance policy from an independent agency like THINK Ins. & Financial Services is the best way to protect your property and your family from whatever life throws at you. When you compare online quotes with us, you’ll find a variety of plans from multiple carriers that cover your most valued investments while saving you money.