The insurance for my home in San Diego, rebuilt in 2009, was dropped by my carrier. The broker found only one company that tripled my rate. Is this typical?
My broker has access to 25 companies and found only one. I’ve tried two other brokers. California Fair will cost more because of the additional insurance I need. We had the 2007 Witch Creek fire in which I lost my home. Others did also, but I haven’t heard of them being gouged like this.
Nancy Hylbert asked 2 years ago 1 Answers
Karl Susman Expert answered 2 years ago Hi Nancy,
While it is not unusual to see rates significantly higher than they have been, what I would ask your broker is how many insurance companies they have access to in order to shop for a replacement policy for you. If they only have one or two, then perhaps see about another broker.
Additionally, other factors can make it extraordinarily challenging to get coverage on properties in California. Is your home anywhere near the hills, or what could be considered brush? If so, this limits things that much more. You may save money by obtaining a California FAIR Plan and DIC policy together.
If you have or need any other details, don’t hesitate to reach back out.
Karl Susman
Please login or Register to submit your answer