Homeowners Insurance Overview

Lenders require homeowners with mortgages to buy home insurance.  You may think that the policy terms required by your lender are acceptable, but that might not be the case.  Remember, lenders are only concerned that you cover the risks to your property they have financed. This most likely does not include your full exposure to loss were your home and personal property to be destroyed. It is important that you assess your property, determine its value, and make sure you get the full coverage you need in the case of a loss.

You'll want to look at two factors - protection and price.  The proper home insurance coverage consists of buying the right type of policy and having the proper levels of protection within that policy. Don't forget to include special provisions for jewelry, your computer, and any other personal items with a high value. Review with your advisor any high ticket items and ask what supplemental coverages might be necessary. There are also supplemental options for special protection against natural disasters that are not covered in your basic policy.

Review the basic home insurance types below. You will also want to review information dwelling rate factors and how they affect the prices you pay.  You can extend your liability coverage using an umbrella policy.

You may also be carrying PMI insurance when you don't need it.  Be sure to review your current mortgage payment.  If you are paying it, find out if it's still needed.

Earthquake Overview

While it is difficult to surpass the natural beauty of California, some say that all this beauty exacts a price. Natural disasters are part of the price we all pay for living in beautiful California. Fires, mudslides, floods, and earthquakes are a few of the natural disasters common to our state. Earthquakes in particular send a tremor of fear through most Californians. Impossible to predict, earthquakes can cause major damage to your home and personal property, not to mention the loss of human life that can occur in severe earthquakes. Earthquake insurance is one way to protect one of your most valuable assets: your home.