Recent developments in the California insurance market have made it more challenging for homeowners to find adequate coverage. Major insurers are citing inflationary pressures and an increased wildfire and natural disaster risk among their reasons for skyrocketing premiums and non-renewals, leading homeowners on a search for a new policy.
Some insurance companies in California are limiting or stopping new business. Companies that are still accepting new business may have more stringent underwriting processes, which could mean longer review periods before policy approval.
Homeowners should begin shopping for insurance at least 45 days before the expiration date on an existing policy or closing on a new home purchase. This allows time to research coverage options and compare quotes.
A reputable agent will evaluate your needs and recommend coverage levels based on factors such as the value of your home, personal belongings, and liability exposure. They should also inform you of available discounts to help save money on insurance premiums. You might be able to lower insurance costs by:
Let Wescom help you find affordable insurance for your most valuable asset. Get a free insurance quote today!
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