Is anyone else experiencing skyrocketing home insurance rates in California? My one-story, 1900 sq ft home in San Jose has been insured with Amica for $2,100 per year since 2017, and I’ve never filed a claim. Now, my renewal has shot up to $8,500 annually! When I called, they mentioned that the increase is related to fire risks. I tried getting quotes from some major insurers like Liberty, AAA, Nationwide, Allstate, and Farmers, but none are offering new policies in California. Are there any reliable home insurers left in the state?
Home insurance will quadruple, any CA home insurers that are solid left?
It’s tough to see such a dramatic increase in home insurance rates, especially when you’ve had no claims. The rising costs in California, particularly due to the increased risk of wildfires and other natural disasters, are affecting many homeowners.
As for finding a solid insurer, you might want to consider a few options:
Smaller or Regional Insurers: Sometimes smaller companies that specialize in California markets may have better rates. Look for insurers with good customer satisfaction ratings and financial stability.
Captive Agents: Working with a local insurance agent who represents multiple insurers can help you find policies that aren’t heavily marketed online.
State Programs: California has programs like the CAL FIRE Home Hardening Program, which offers resources that may help reduce your risk and, potentially, your insurance costs.
Adjusting Coverage: If you’re open to it, consider adjusting your coverage levels or increasing your deductible, as this could lower your premium.
Bundle Policies: If you have other types of insurance (like auto), bundling them could yield discounts.
Lastly, the insurance landscape can change rapidly, so keep checking back with the insurers you contacted, as they may begin offering new policies as market conditions evolve. Good luck!