For California homeowners, insurance company information can be found online with a little effort. Spending some time online investigating an insurance company serving California homeowners can save you a lot of grief later on. Since your home is probably going to be the largest single purchase you ever make, it is important that you find an insurance company for CA homeowners insurance coverage that can provide you with the right coverage at a reasonable price.
Types Of Coverage Offered By A California Homeowners Insurance Company
Along with replacement and contents coverage, you may want to discuss the following insurance options with your California homeowners insurance company:
Building Code Upgrade Coverage: When you buy building code upgrade coverage, you are protected if your property needs to be upgraded to comply with building code requirements when it is being rebuilt or repaired after a loss.
Coverage For Other Structures On Your Property: Do you have a shed or another type of structure on your property? Your California homeowners insurance company policy doesn’t cover outbuildings unless the policy specifically includes them. Unless you want to pay for the cost of replacing your detached garage, pool house, or shed yourself, you need to consider buying this protection separately. In most cases, you will be looking at a policy limit of approximately 10% of your home.
Condominium Insurance: Condo owners still need to buy homeowners insurance. In this case, the policy will be written to cover your personal property (contents insurance) as well as repairs to the individual condominium unit. Loss of use coverage will be capped at 40% of the value of the condominium.
Loss Of Use Coverage: Loss of use coverage kicks in when you are not able to live in your home while it is being repaired or rebuilt following a loss. You may be able to claim the following expenses while you are living elsewhere:
- Accommodation
- Meals
- Storage of Personal Property
- Cost of Renting Furniture
- Additional Transportation Costs Incurred to Go to Work or School
How to Deal With An Adjuster From A California Homeowners Insurance Company
If you have sustained a loss and need to make a claim to your California homeowners insurance company, you will need to provide information about the incident to the claims adjuster. Here are some tips that will help you get your claim resolved quickly and efficiently:
- If possible, provide the adjuster with receipts to confirm the purchase price of any items damaged or destroyed. In a situation where you are making a claim for living expenses, get receipts for all your expenses and keep them together.
- Answer the adjuster’s questions honestly and directly.
- Don’t speculate when you are providing information to the adjuster. Share only the information you have personal knowledge of. If you don’t recall a detail about the event, just say so.
- Keep detailed records of all of your discussions with the adjuster.
- If you are asked to submit information in writing to the insurer, keep a copy for yourself.
An Alternative To Getting Coverage From A California Homeowners Insurance Company
In a situation where an individual has tried, without success, to arrange coverage through a California homeowners insurance company, the California FAIR plan provides basic insurance. The FAIR pan provides the following insurance coverage:
- Fire
- Vandalism
- Earthquake (Optional)
- Replacement Cost (Optional)
- Trees, Shrubs, and Plants (Optional)
- Television and/or Radio Antennas, Canopies, Signs, and Awnings (Optional)
Please note that coverage under the FAIR program doesn’t include liability insurance (to protect the homeowner if someone visiting the property is injured) or protection against theft. Damage caused by water is also not included.
Business owners can apply for coverage under the FAIR plan as well. Policy provisions for entrepreneurs include coverage for losses stemming from burglary, fire, or negligence (liability coverage).
To access the FAIR program, contact a licensed insurance agent or broker. Under regulations set out by the Department of Insurance, the agent or broker is specifically prohibited from charging a fee for assisting homeowners to complete an application for insurance coverage under the FAIR program.
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