California Wildfire Tips For Homeowners

Posted by Phil Boren on Monday, November 11th, 2019 at 11:05am.

California wildfires have been so prolific in recent years and regardless of the cause(s), there's no question that thousands of California homeowners have been severely impacted. So many people have lost their homes, possessions, and many, their lives, as wildfires like the recent one in Paradise, for example, roared through and decimated entire communities. Click the pic below to access some tips for homeowners relative to this wide-spread insurance problem here in Northern California:

Fire Insurance Tips For Homeowners

For those left in the wake of these wildfires who perhaps didn't suffer those same losses, many are finding that insurance companies that were active in their area suffered major financial losses and are making the decision either 1) renew policies with a much higher premium, or 2) to no longer insure at all in areas designated as being located in "High Fire Danger" areas. If homeowner policies can be found at all in these areas, many are finding that the quoted premiums and deductibles are many times what they were just a few years ago. These conditions have further impacted a lot of people, and we've seen it affecting these micro real estate markets as well. Think about it: If homeowner's insurance is unavailable or if the new premium is $5,000/year when it used to be $1,200/year, this often affects potential home buyers' ability to finance a home purchase, or it negatively impacts what they can pay for the home now that insurance is so much more expensive. Many potential buyers just walk away and buy elsewhere. There are no easy answers. If you or someone you know has already been victimized by wildfires, read our article on How To Avoid Wildfire Scams.

If you're impacted by the insurance fallout of these California wildfires or if you're considering buying a home in an area that's adversely affected, we hope these tips will prove to be helpful. Please feel free to share these tips with anyone you know who might benefit from them.

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Phil Boren
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