Here’s a checklist of things you should consider when you purchase homeowners insurance:
- Determine the amount and type of insurance that you need. The coverage limit of your house should equal 100% of its replacement cost. A coinsurance condition, common on commercial property forms, is unusual on California homeowners policies, so check your own policy rather than assuming one applies. The larger risk is a dwelling limit set below today’s rebuild cost, because the shortfall on a total loss is yours. Going through a replacement cost estimator with your agent is how that limit gets set. Also, decide if the personal property and personal liability limits are adequate for your needs.
- Determine which, if any, additional endorsements you want to add to your policy. For example, do you want the personal property replacement cost endorsement, an earthquake endorsement, or a jewelry endorsement?
- Once you’ve decided on the coverage you want in your homeowners insurance policy, consult us. We’ll be able to help you determine if there are any gaps in coverage you might not have been aware of and explain the details of the policy’s exclusions and limitations, as well as recommend an insurance company that will live up to your expectations.
Related FAQs
Enough to rebuild the home, which is a different figure from its market value and usually from the purchase price. Market value reflects land, location, and what a buyer ...
No. The FAIR Plan is a separate insurer of last resort. We help clients obtain FAIR Plan coverage and pair it with a DIC policy, but we represent you, not ...
No. Both are excluded from standard California homeowners policies and are written separately. Earthquake is bought as its own policy or endorsement, and the deductible is typically a percentage ...
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