How to Get the Best Rates on Homeowner's Insurance in California

How to Get the Best Rates on Homeowner's Insurance in California
By Deborah Mills

Its no secret that many people believe that California is going to be subject to a large earthquake within the next few decades. With the cost of the 1994 earthquake in Northridge estimated to be more than 12 billion dollars, residents in this state should think twice before declining earthquake specific coverage.

Beyond that every homeowner and renter needs homeowners insurance. Finding the best rates is the goal of virtually everyone and with some understanding of what insurance companies see as appealing its not hard to negotiate a reasonably good price on premiums.

Your homeowner insurance history follows you wherever you move within the United States. If you lived in another state and filed several small claims with your homeowners insurance company before moving to California, you can expect your rates to reflect that. If a windstorm blew off a shingle or two from your roof or you suffered a broken window, its a good idea to consider paying to fix those. Claiming them against your homeowners insurance policy may seem like a good idea, but the claim will likely cause your rates to rise for several years.

Be reasonable when deciding on the replacement cost of your home. Many people purchase homeowners insurance at a level that is equal to what they paid for their home. The purchase price of your home is not the same as the replacement cost. You will not be replacing the cost of the land so that can be deducted from the insurance coverage. The same is true of your home contents. Many people overestimate the price of replacing all their possessions. Be realistic and make a list of what you do own. This will help you determine a reasonable coverage level. Purchasing just what you need is the best way to get the lowest rate possible.

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