Homeowners Insurance Quote Forms
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Homeowners Insurance Information
Despite its sandy beaches, sunshine skies and gorgeous Central Valley with all its vines and fields, California has its fair share of dangers. California homeowners have to be wary of earthquakes, floods and tornadoes when considering a home insurance policy. Academy West Insurance works closely with each client to find the right policy for their California home. A home is a huge investment, and we want to ensure that you have the right amount of coverage for a price that won’t break the bank.
How Much Home Insurance Do I Need?
When you’re purchasing a home, a mortgage lender will typically require you to purchase homeowners insurance. It’s recommended that you purchase enough home insurance to cover the total replacement value of your home. This means that you need enough coverage to pay to rebuild your home if it’s destroyed in a disaster. This value varies depending on the home, but a typical homeowners policy in California includes:
- Dwelling Coverage: $200,000
- Liability: $100,000
- Deductible: $1,000
Why Buy Homeowners Insurance?
Besides the fact that you may need it, homeowners insurance will compensate you for losses or damage you may not be able to pay for out of pocket. It covers four main areas:
- Dwelling: Dwelling coverage compensates for damages or loss due to a list of covered perils, such as fire, wind, storms, lightning, theft and vandalism. This applies to the physical property and its attached structures, though it can be expanded to cover certain unattached structures, such as sheds.
- Personal Possessions: Personal possessions coverage includes the same perils as dwelling coverage but provides compensation for your personal belongings. Riders can be added to cover certain items such as expensive jewelry, furs and art.
- Liability: Liability covers incidents involving other people. If you or a family member cause bodily injury or property damage to someone else, this coverage provides compensation for the damages. It can cover medical expenses as well as legal fees if a victim decides to sue. For example, if you throw a birthday party at your pool and a neighbor sprains their ankle and falls in the pool, your liability insurance will help with their medical expenses related to that injury.
- Additional Living Expenses: Additional living expenses (ALE) helps with the cost of momentarily living somewhere else while repairs are being made to your home after a disaster makes it uninhabitable.
Frequently Asked Questions
How Does Home Insurance Work?
When you purchase homeowners insurance, you pay monthly premiums for coverage. When you file an insurance claim for damages covered under your policy, the insurance company will send an underwriter to inspect the damages and calculate how much compensation you will receive.
When do I File a Home Insurance Claim?
If you’re not sure whether to file a claim, have the damage appraised by an expert. If the cost to fix the damage out of pocket is cheaper than the cost of your deductible, you may want to go ahead and fix the damage without filing a claim. If the damage is much more expensive than your deductible, you should likely file an insurance claim.
What Does Home Insurance Not Cover?
A basic home insurance policy doesn’t cover flood or earthquake coverage, but you can often purchase these as an additional policy.
Where to Buy Home Insurance
Academy West Insurance works with a variety of top carriers to find affordable homeowners insurance policies. We shop your policy for you to find competitive prices for the coverage you and your home needs.