Is anyone aware of reliable home insurance providers in California? My annual premium has skyrocketed from $2,100 to $8,500 for my single-story, 1,900 sq ft house in San Jose, which I’ve owned since 2017. I’ve never filed a claim; the insurer, Amica, mentioned the increase is due to fire risks. I tried getting quotes online from major companies like Liberty, AAA, Nationwide, All State, and Farmers, but none are currently offering new policies in California.
Home insurance will quadruple, any CA home insurers that are solid left?
I’m sorry to hear about your steep increase in home insurance costs—it’s really frustrating when you’ve been a responsible homeowner without any claims. The rise in rates is largely due to the increased risk associated with wildfires and other natural disasters in California, which has forced many insurers to rethink their policies.
While options may be limited right now, consider the following:
Shop Around: Keep checking for new quotes, especially from smaller or regional insurers that might still be writing policies in California. Companies like Geico and Progressive might be worth a try as they sometimes partner with local insurers.
Bundle Policies: If you have auto or other insurance needs, bundling those with home insurance can sometimes lead to discounts.
Consult an Insurance Broker: They can offer insights into the market and may have access to insurers that aren’t widely advertised.
Look Into California FAIR Plan: If you’re having trouble finding coverage, the California FAIR Plan provides basic fire insurance for homes that can’t get coverage elsewhere.
Mitigation Discounts: If you’ve taken steps to harden your home against wildfires (like clearing brush, installing fire-resistant materials, etc.), make sure the insurers are aware, as it may qualify you for discounts.
Consider Adjusting Coverage: While it’s not ideal, you might want to look into higher deductibles or less coverage to lower your premium. Just ensure that it still fits your needs.
I hope you find a solution that works for you soon! Stay persistent, as rates can fluctuate, and new companies may enter the market. Good luck!