No more wildfire seasons in California?
Californians were used to the typical wildfire season starting in late summer through early fall. This year we have seen wild fires back to back earlier in the year. High temperatures and less rain throughout the 2018 year have contributed to what seems like year round wild fires. These devastating fires have destroyed homes and generated millions of dollars in insurance claims.
As results the cost of insurance for homes has started to go up, and insurance companies have started to restrict insurance for properties in certain zip codes. Most insurance companies request 2-3% increase in the pricing of insurance per year. This year we have seen companies increase the cost of insurance for properties by 6-7%, and one insurance had 2 increases within the 2018 year.
I was recently contacted by Arnold a client we quoted 2 years ago who did not purchase insurance with us. Arnold’s home insurance price had gone up and his agent continually increased his deductible to “save him money.” I was able to give him the same amount of insurance coverage, saved him $200 for the year, and lowered his deductible. I contacted his mortgage company and set up the payment to be combined with his mortgage payment.
As an insurance broker I have the flexibility to shop insurance rates for by customers especially when rates start to change. Our agency represents over 10 different companies for home insurance. This has allowed me to assist people who have claims, rates increases, or need more coverage at a better price. Insurance rates like the wildfires can be unpredictable in California. I am glad that my services as a broker make it easy and convenient for people to find the right coverage and insurance for their homes.