OC Homeowner’s Insurance Tips
Having the Correct Coverage at a Great Price is Paramount
With the proper Orange County home insurance, you can rest safely knowing you have the only coverage you need. We shop all A-rated major homeowner insurance carriers to get you the best rates!
Coffer Insurance is a top Orange County home insurance agency located in Anaheim. To speak with an agent for your free consultation and quote, contact us today.
Do I Need Homeowner’s Insurance?
If you own a home, you definitely need Orange County home insurance for your investment. Furthermore, if you owe a mortgage payment on your home, your lender will make it a mandatory part of your contract.
Even if you own your home free and clear, homeowner’s insurance is a necessary part of your financial portfolio. Most importantly, in case the unforeseen happens.
What Does Orange County Home Insurance Cover?
Policymakers can customize your homeowner’s insurance policy to suit the type of coverage you need. Some policy elements are typical for all policies. Your Orange County home insurance needs to address these main areas:
Structural damage
This includes the structure of your home itself. Specifically, the interior and exterior walls, carpeting, roof, and cabinetry. Structures on your property that are not attached to the home such as as a small shed or a detached garage also need insurance.
Personal belongings
Your personal belongings are all the things you own that are not a part of the home’s structure. Specifically, personal belongings would be your home furnishings, special things like china dishes, electronics, and more.
Liability
Another important part of your Orange County home insurance is the personal liability coverage. This offers financial protection in case someone is injured on your property and sues you. Furthermore, if their belongings are damaged and you are legally responsible.
Your homeowner’s policy covers most situations that are out of your control that result in damage. However, check with our professional Orange County Home insurance agents to get exact details. For example, if your home is robbed, suffers a fire, gets hits by a tree, or a car smashes into the front, you will have coverage for the damages through your policy.
What Is Not Covered by Standard Homeowner’s Insurance?
Items that are not covered with a standard homeowner’s policy include:
- Flood insurance
- Earthquake insurance
- Additional living expenses (some expenses may be covered but not all)
If you are in an earthquake or flood zone, you will want to consider adding these extras. When you are looking for homeowner insurance in the OC, our homeowner insurance specialists can get you the coverage you need at the very best rates.
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Important Orange County Home Insurance Options
If you are a California homeowner, you expect your homeowners insurance policy to cover all the costs of repairing your house damages. However, you may not have enough coverage? As an independent OC home insurance agent, we continually provide new information about homeowner insurance policies. We work for you and not the big insurance carriers.
Two Important OC Home Insurance Coverage Options
Extended Dwelling Coverage
Reconstruction costs are different from market value. Unfortunately, your current homeowners policy may not accurately reflect the true costs of rebuilding your home. No homeowner wants this surprise after house damages occur. Extended dwelling coverage covers construction costs that change and are now more than your current OC homeowners insurance limits.
To illustrate this concept, consider this real-life scenario. Your home is currently insured for 100% of its replacement cost. This replacement cost is based on the value of your house when the policy was originally written years earlier. However, a California wildfire suddenly sweeps through your community destroying your home along with many others nearby.
Due to the high demand caused by the natural disaster, construction materials and labor costs increase 20% in your County. Therefore, your $600,000 home will now cost $720,000 to rebuild. Extended dwelling coverage helps you bridge this reconstruction gap. With 20% extended dwelling coverage, you’d get the additional $120,000. Without this important Orange County home insurance, you receive only $600,000. Sadly, you will have to make up the difference out of pocket. Even worse, you settle for less house than you originally purchased.
Building Ordinance of Law Coverage
If your home is damaged by a covered loss and needs to be rebuilt or repaired, you are required to build according to current building codes. Furthermore, since codes have grown more rigorous over the past 20 years, this means higher costs to rebuild than you planned. That’s where a building ordinance policy, or law coverage, comes into effect. A building ordinance policy will save you thousands of dollars.
Again, let’s take the example from above and assume you have a $800,000 homeowners policy. With a 10% building ordinance policy, you would get an extra $80,000 to apply to the new building code requirements you must meet. Without this important policy option, you’ll have to pay the difference to bring your house up to code.
Not sure what building codes have changed in the last few years? Coffer is a local, independent company providing consultation on local building codes impact to insurance rates.
Extended dwelling and building ordinance insurance policies offer valuable protection from gaps in homeowner coverage. This provides peace of mind and money in case of an unforeseen covered event, and all for an affordable annual premium.