Category: <span>Uncategorized</span>

Have you received a double digit increase on your homeowners insurance rate or been flat out non-renewed? It’s becoming more and more common in California every year, and the trend doesn’t appear to be stopping any time soon. Over 350,000 homeowners were non-renewed from 2015-2019, and we expect an even greater increase in 2020 due to the Paradise fire and others.

So what are your options?

Depending where you live, there are still standard homeowners insurance companies actively issuing new policies. The more traditional companies like Nationwide, State Farm, and Travelers will be your best bet because they offer the most comprehensive coverage at competitive rates. If you’re far from a fire department, a tough to access area, or a public fire hydrant isn’t nearby, that might not be an option though. What do you do if the standard market won’t insure you?

The California FAIR plan is a state backed insurance program that will insure your home for some of the more basic, but costly, claims scenarios: Fire, lightning, smoke, and optionally windstorm/hail, explosion, riot, aircraft, vehicles. The FAIR plan isn’t as complete as a traditional homeowners policy, and is missing coverage like water damage, collapse (fallen tree), liability, theft, and more. A handful of companies offer a “Difference in Conditions” policy, that works in tandem with the FAIR plan to create something very similar to a traditional homeowners policy. There are only about a dozen companies currently offering coverage.

If the standard market and FAIR plan can’t offer what you want, then the “Surplus Lines” market is going to be your last option. They deal with the very tough to place homes in extremely high fire areas that have unique characteristics or high rebuild values. With Surplus Lines policies you have more flexiblity to choose the coverage you want, but be aware that most limits don’t come standard, and you have to specifically request the coverage you want.

In any scenario, working with an insurance broker who has multiple options and specializes in high risk homeowners insurance is going to be your best bet. They should have contacts and options for any of the three scenarios outlined above.

No one wants a friend or family member to get a scratch or ding on their car when they borrow it. Should you be worried if your insurance will actually cover them if they get into an accident though? Watch the video to find out!

Check out the video to learn how your car insurance works with rental cars, what coverage transfers, and when you should buy extra coverage.

Car accidents are confusing and stressful. Learning what to do and what not to do will save you time, headaches, and money. Here are 3 of the biggest mistakes people make:

1. Admitting fault. Believe it or not, even if you feel an accident was your fault, the police and insurance companies may disagree. Unless there is really no question (hitting a parked car), you don’t do yourself any favors by admitting fault. It’s best to exchange information with the other driver, submit it to your insurance company, and let them do the investigation and hard work. Many times an accident isn’t declared 100% one person’s fault, and your DMV report will only show the accident as “at-fault” if you are determined to be 51% at fault or greater.

2. Not calling the police. Very minor fender benders may not need a police officer to come, but any time there is an injury, a dispute, or moderate (or greater) damage, you need to call the police. They prepare a police report which gives their initial opinion on who is at fault, and police can help calm down a tense situation. Any damage, location information, and injuries get logged into the police report, which helps make your case.

3. Not getting contact information from witnesses. A witness can be your best friend if there is a question to who was at fault. If you have a different version of what happened in an accident, a 3rd party can the proof you need to back your side of the story up. Insurance adjusters compare both parties’ stories, and damage to the vehicles to determine who is at fault. When that’s inconclusive, they look to anyone else who saw the accident.

As a thank you to our great clients, Nelson Insurance is sponsoring the Santa Cruz Museum of Art & History on Wednesday, July 3’rd and making admission FREE to you, your friends, and family! We’re excited for our second opportunity to sponsor a day this season, and hope you’re able to make it down and check out a great local treasure.

Read More