10 Questions You Should Always Ask About Average Homeowner’s Insurance before Buying It

No matter if you are already a homeowner or you are just now considering buying one, there is one important aspect that you need to consider and that is buying an affordable Homeowner’s Insurance. Since the market is quite broad and there are many companies that offer different types of insurance, you need to do a bit of research work with a trusted agency in order to find that average Homeowner’s insurance in California that suits your needs.

In order to be successful in shopping around for affordable Homeowner’s Insurance quotes online, you need to be aware what you should be looking for. Knowing what questions to ask means that you will get the right answer to facilitate your decision. The guide we have compiled below will give you an idea about the basic elements of the Homeowner’s Insurance.

average Homeowner's Insurance in California

Top 10 questions about the average Homeowner’s Insurance in California

Here is a list of the top 10 questions related to the average Homeowner’s Insurance in California that you need to keep in mind when considering which one is the most suitable for you.

  • When should I get the Homeowner’s Insurance in California?

You need to have your property covered immediately when you get possession of it or in the case you are renting – when your occupancy starts.

  • What does the average Homeowner’s Insurance in California cover?

While policies and level of coverage may differ, the average policy usually covers the house and outbuildings; personal property; additional living expenses if the home is damaged by a covered loss and unlivable during repairs; liability protection; and medical bills for people hurt on your property.

  • How much does the average Homeowner’s Insurance in California cost?

The national average rate is $1,228 for a policy with $200,000 dwelling coverage with a $100,000 deductible and $100,000 in liability protection, while for California it is $793.

  • How to get discounts on average Homeowner’s Insurance in California?

Insurance companies give discounts if you can show that you have taken extra measures to prevent a loss. This may include installing a burglar or fire alarm, having an impact-resistant roof or the like. Always check if the improvements you have made qualify for a discount. If you are retired or a non-smoker you can also get a discount. Multiple policy discounts also apply.

  • Is the Homeowner’s Insurance tax deductible?

In general no, unless in the following two cases:

– You use your home or part of it for business

– You are a landlord and claim rental income on your home

  • Is the Homeowner’s Insurance included in the mortgage payment?

It is not included unless it is escrowed. However, when you get a mortgage, the bank usually requires an escrow account, which you fund, and they use, to pay your Homeowner’s insurance. This means it is paid alongside with your mortgage installment.

  • Is the claim process simple, hassle-free and quick?

It is a step-by-step process that is fairly easy to complete, especially with the help of your insurance agent. You can ask the agent or the company for detailed explanation anytime.

  • Can the Homeowner’s Insurance be canceled?

An insurance company may cancel your policy within the first 60 days if it gives you 30 days’ notice. After 60 days, the reason for cancellation must be due to a specific circumstance such as non-payment, misrepresentation or increase in risk.

  • How is the Homeowner’s Insurance Paid?

It is paid annually at the beginning of each year. You can pay directly the insurance company or work it out through an escrow account (see question No. 6).

  • Where can I get affordable average Homeowner’s Insurance in California?

The best place to get an affordable Homeowner’s Insurance is by contacting a reliable Insurance Agency, which can offer you the best options.

The ultimate checklist before buying a Homeowner’s Insurance

In addition to knowing the answers to the questions above, you can also make a checklist of what you need to do in order to find affordable Homeowner’s Insurance. We can basically divide the process into two steps – preparation and shop around.

Preparation phase

In this phase, you need to determine a few things about your home so that you know what insurance you will need. This step includes:

  • Determine the amount of coverage you need so that you can replace your home if it is destroyed;
  • Know your credit score since some companies take it into account when determining the average home insurance cost;
  • Collect information about your house that you will need to present to the insurance company, such as square footage, number of rooms, condition and age of the property, materials used for roofs and walls, etc.;
  • Get a Comprehensive Loss Underwriting Exchange (CLUE) report that shows property insurance claims history;
  • Make a list of your possessions, especially most valuable ones, such as jewelry, art, electronics, etc. so that you can consider additional coverage;
  • Decide whether you need additional coverage such as flood insurance, hurricane and windstorm coverage or earthquake insurance. Since earthquakes are common in California, you may want to consider adding this coverage.You can also have a professional inspector check the property and help you with some of the calculations or decisions.

Shopping around for a Homeowner’s Insurance

  • This stage does not simply include checking for affordable Homeowner’s Insurance quotes online or trying to determine the average cost of Homeowner’s Insurance in CA, even though this is mainly what it is about. Here you have two approaches:
  • Working on your own – this means contacting several agencies and asking for quotes in order to make the best decision. This can be a lengthy process and you may end up feeling frustrated or not knowing what to do at the end. Therefore, you need to consider working with a trusted insurance agency that will shop around for the best deals and offer only those that match you requirements.

In both cases it is important to keep in mind the following:

  • Verify that the agent or company you are working with are properly licensed
  • Don’t make a decision based only on the price
  • Be as honest as possible about the condition of your house or value of your property
  • Ask for discounts

This, in a nutshell, is all you need to know about the average Homeowner’s Insurance in California. Keep this short guide handy next time you need to get your home insured.

If you are looking for a trusted partner to help you find the best average Homeowner’s Insurance in California, then make sure to contact Promax Insurance Agency. Being a family-owned business with more than 45 years of experience, they know how to take care of their customers. The agency shops around for the best deal and provide you quick access to live agents as well as prompt service and best rates for your requirements. They have branch offices in Corona CA and Fontana CA to serve their customers. Their knowledgeable staff is ready to walk an extra mile for you and is ready to answer all your questions by phone, e-mail or in person. Promax Insurance Agency works with the leading carriers and can help you with home insurance for your primary residence, rental property, a secondary home, or a vacation home.