Most consumers aren’t quite sure where to begin when they try to find and evaluate California home insurance. But we make that comparison process painless and far less complicated than it used to be.
A baseline understanding of begins with what it covers. Virtually all policies cover the structure of your residence as well as any other structures on the property. This would include garages, fences and sheds, for example. It also covers personal belongings, including the contents of your home: furniture, clothing and other items.
Unusual and valuable items, such as antiques, jewelry and computer equipment may well require additional coverage.
How much home insurance?
The amount of coverage is going to depend on many factors: what your home is made of, where it is located, its value, what personal property you have in it and other factors. You’ll find lower premiums if your home has burglar alarms and smoke alarms. Carriers consider any security systems are helpful in reducing claims.
You are likely to need additional coverage for floods or earthquakes. Acts of nature are not always covered by standard coverage. Check to see what is necessary in your geographic location. If you live in a flood plane or a hurricane-prone area you will need to make sure you are protected.
But the most important consideration might also be your budget, because you simply cannot afford to have a gap in coverage.
Budgeting for home insurance
Budgetary considerations include how much you can afford to pay each year as well as how much you can afford in the way of deductibles or the cost of replacing what might be damaged. There is no general rule, you simply have to think through your own situation.
If your home is a condo, you do not own the building itself and are only responsible for any improvements and, of course, the contents. You do, however, need to check the association’s master policy to see what is covered because not all association policies are alike and you do not want to be caught short should something happen.
Items that are more valuable will need to be separately scheduled, which means additional coverage. They might include jewelry, antique furniture, sound systems and computer equipment.
Personal liability is important in case someone is hurt or injured on your property and you are sued or have to pay medical expenses. This is the kind of protection you need but hope you never have to call on.