if you don't have a mortgage there's no requirement for insurance
Fire Insurance Availability... California
- Thread starter ultrarunner
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if you don't have a mortgage there's no requirement for insurance
OP
ultrarunner
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True... but, I don't know if you can get homeowner's coverage without Fire Insurance.
I do think today having basic liability, worker's comp and theft plus storm damage is worthwhile...
I do think today having basic liability, worker's comp and theft plus storm damage is worthwhile...
OP
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OK... just got off the phone with my Agent of 30+ years...
He said the last few weeks he has been writing a lot of blended coverage plans... even in the city limits because new underwriting is denying Fire coverage to many...
The most popular coverage is the State of California Fire Plan which is minimum coverage that meets lender's requirements coupled to a Farmer's Home Owner policy with fire EXCLUDED...
He thinks this is the way fire insurance is headed in California and expects to see a lot more of these blended policies... the first one he has ever written was just a few weeks ago.
Interesting because the California Fair Plan came about as minimum insurance of last resort for run down inner city areas and now it looks like it will be the only rural and semi rural coverage available for many going forward...
One catch is you may have to have applied for and been denied by at least 3 carriers...
Eligible Areas
Just like Earth Quake is almost all exclusively the State now...
State of California Auto Insurance is also growing by leaps and bounds...
Maybe one day the government will by the major or only player for Health, Auto and Home
He said the last few weeks he has been writing a lot of blended coverage plans... even in the city limits because new underwriting is denying Fire coverage to many...
The most popular coverage is the State of California Fire Plan which is minimum coverage that meets lender's requirements coupled to a Farmer's Home Owner policy with fire EXCLUDED...
He thinks this is the way fire insurance is headed in California and expects to see a lot more of these blended policies... the first one he has ever written was just a few weeks ago.
Interesting because the California Fair Plan came about as minimum insurance of last resort for run down inner city areas and now it looks like it will be the only rural and semi rural coverage available for many going forward...
One catch is you may have to have applied for and been denied by at least 3 carriers...
Eligible Areas
Just like Earth Quake is almost all exclusively the State now...
State of California Auto Insurance is also growing by leaps and bounds...
Maybe one day the government will by the major or only player for Health, Auto and Home
OP
ultrarunner
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Update...
Some of my neighbors who have lived in their homes since the 1960's are getting non-renewals... they have zero claim history.
Replacement policies are much higher... like going from $1500 annually to $5000 on a 1700 square foot ranch home... the reason cited it California Fire Danger and this is city living with sidewalks and fire hydrants...
All are on Social Security and one has said he may just go without.... home has been paid for years ago and he is 90...
Seems to be always something popping up...
Some of my neighbors who have lived in their homes since the 1960's are getting non-renewals... they have zero claim history.
Replacement policies are much higher... like going from $1500 annually to $5000 on a 1700 square foot ranch home... the reason cited it California Fire Danger and this is city living with sidewalks and fire hydrants...
All are on Social Security and one has said he may just go without.... home has been paid for years ago and he is 90...
Seems to be always something popping up...
EddieWalker
Epic Contributor
Wonder how much their health insurance is going to go up there? Add that to home owners insurance and it's going to be very hard for a lot of people to survive
OP
ultrarunner
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I think Health Insurance escalation will hit everyone pretty hard... many of the co-ops have gone under around the country... some have said it will eventually end up with government single payer...
The Home insurance does seem to be very much a California thing... kind of ironic in that I need a permit to take out a single oak tree or any other tree like I did for a single walnut in the backyard and it took several weeks with neighborhood posting before the permit was granted.
Yet the insurance companies are focusing in on areas with foliage/trees... urban/wildland interface is what they call it.
Of course there is always the California Fair Plan that is through the State of California as the insurance of last resort that meets minimum requirements for lending.
Lots of people I know are doing OK with no debt and Social Security... that said it would take much of an increase to make things unaffordable.
On a separate note... there has been a lot of moving to Texas talk around the watercooler... and I just can't help share your story Eddie... only the names have been changed!
The Home insurance does seem to be very much a California thing... kind of ironic in that I need a permit to take out a single oak tree or any other tree like I did for a single walnut in the backyard and it took several weeks with neighborhood posting before the permit was granted.
Yet the insurance companies are focusing in on areas with foliage/trees... urban/wildland interface is what they call it.
Of course there is always the California Fair Plan that is through the State of California as the insurance of last resort that meets minimum requirements for lending.
Lots of people I know are doing OK with no debt and Social Security... that said it would take much of an increase to make things unaffordable.
On a separate note... there has been a lot of moving to Texas talk around the watercooler... and I just can't help share your story Eddie... only the names have been changed!
