Glendora Fire Insurance – Homeowner’s Insurance May Be Harder to Get and Keep Due to California Fires

By August 29, 2018Blog

Glendora Fire Insurance – Due to the drought, warmer weather, and home construction deeper into fire prone regions, California is consequently experiencing an earlier and longer destructive wildfire season. Subsequently, the California Department of Insurance has sent out a warning that California homeowners will find it harder to obtain and hold onto fire insurance. We’d like to preface this with two points:

Glendora fire insurance1) OAK Insurance Solutions is a California company in itself. We know fire has been and unfortunately will continue to be part of California. That said, we also know how hard homeowners work to purchase and keep their home. Accordingly, we firmly stand on doing everything in our power to make sure our clients can obtain and will keep their insurance. We’ve been hearing a lot of stories regarding homeowners opting to go uninsured because they can’t find affordable fire insurance. Do not take the risk! To save you time and money, we can shop and compare rates on your behalf, and set you up with affordable, quality, insurance coverage.

2) A report has also indicated that after California’s most recent wildfires, homeowners are finding it more difficult to rebuild due to coverage shortfalls in their homeowner’s insurance. This is why we can’t stress enough…if you haven’t reviewed your current policy and its coverage limits, you must. Contact us and we’d be happy to identify any limits, gaps, and opportunities for rate reductions. Unfortunately, there have been an increasing number of stories of homeowners who have lost their home due to California’s wildfires. If such devastation wasn’t enough, they are now realizing that the total their insurance pays out to rebuild isn’t enough. In fact, many are facing shortfalls of $200,000 and upwards. What does this mean? It means that once their insurance pays them out, not only do they not have enough to rebuild their home, but the total may not be enough to pay off their current mortgage or even place a down payment on another home. Having no other options, homeowners are having to take out an additional loan to cover the shortfall in their coverage and unfortunately having to pay for the additional mortgage as well. Imagine losing your home in the fires. Then, due to a lack of coverage, needing to take out a second loan and as a result, increasing your monthly home expense by at least another $1000. This isn’t fair.

As the local Glendora fire insurance agency…

We want to be your trusted source for everything insurance. Although the California Department of Insurance is suggesting that the “other guys” may begin opting to not renew policies or stop writing policies in areas with high fire risk, we are not the “other guys.” It’s anticipated that parts of the state will be reclassified from safe to high-risk and our competitors will increase their rates. It further has been revealed by a Department of Insurance report that the number of non-renewals has increased 15% and insurers have dropped more than 10,000 policies in just California’s 24 high fire risk counties. This data is for 2016 and it has been estimated that the numbers have increased since then.

Again, as the community’s go-to insurance agency, we are and will continue to strive to not only provide high coverage, but beat our competitors’ rates 95% of the time. Whether you are with the “other guys” or not, contact us to review your current policy and options. You never know when disaster can strike.

Here in Glendora, fire insurance covers not only damages and losses covered by fire, but it can cover smoke and water damage too. Since fires can ignite from more than just wildfires too, fire insurance covers a policyholder against fire loss or damage from such sources as fire brought by electricity, faulty wiring, gas explosion, lightning, or other natural disasters.

Protect your home, property, and family, contact OAK Insurance Solutions today or get a quick quote here.

Michael Martinez

Click Above Or Call Us & Find Out How Much You Can Save in Insurance!

(626) 775-7850

Michael Martinez

Author Michael Martinez

More posts by Michael Martinez