10 things you NEED TO DO if your insurance company drops you or won't renew your policy

You may be one of the millions of Californians facing losing their homeowners’ insurance. 

Why?  It comes down to premiums in California were just too low to cover costs the insurance companies where incurring and anticipate incurring with a high fire season ahead of us this year.

The big two dumping clients and not writing new policies for home owner's in  California are  Allstate and State Farm, read more on CBS News.

If you have gotten notification of nonrenewal or can't find an insurance company that will insure your home here are some steps you should take:

1. Contact your insurance company: Reach out to your insurance provider to confirm the reason for the cancellation. It could be due to a specific incident or change in risk factors. Understanding the cause will help you determine your next course of action.
2. Assess the situation: Evaluate the reasons for the insurance company's decision. If the cancellation is due to factors within your control, such as poor maintenance or increased risk, consider addressing those issues to improve your chances of securing new coverage.
3. Seek clarification and appeal: If you believe there has been a misunderstanding or error, ask for clarification from your insurance company. In some cases, you may be able to appeal the decision and provide additional information or evidence to support your case.
4. Look for new insurance options: Start searching for new homeowners’ insurance providers. Contact multiple insurers to compare quotes, coverage options, and eligibility requirements. Consider working with an independent insurance agent who can help you find suitable options from different companies.
5. Consider alternative coverage: If traditional homeowners insurance is not available or affordable, explore alternative coverage options such as surplus lines insurers, state-run insurance programs (in CA this might be through the California Fair Insurance Plan), or specialized insurers that cater to high-risk properties.
6. Stay proactive and persistent: It may take time to find a new insurance provider, but don't lose hope. Be persistent in your search and follow up with different companies to find coverage that meets your needs.
7. Read your new policy before you sign!  Don't be fooled by discount insurance companies who are writing contracts excluding items that are typically covered, such as personal property, housing for the period to repair or rebuild your home, and more.
8. Mitigate risks: Take steps to mitigate risks and improve your insurability. This may include installing security systems, smoke detectors, fire alarms, or making home improvements that reduce potential hazards. Address any maintenance issues promptly to ensure your property meets the necessary standards.
9. Document your property: Create a thorough inventory of your belongings, including photographs and receipts, to ensure you have a record of your assets in case of a loss. This documentation will be useful when applying for new insurance.
10. You are ultimately responsible for making sure you are protected, which if you are in a high to medium fire risk area, here's a map by county, this might mean having two separate policies, one for fire and on for flood, theft, etc.  If you need to ask a professional contact me today, I can recommend the best in the business to help guide you through your next steps.

Remember that laws and regulations regarding homeowners’ insurance can vary by location, so it's essential to consult with local authorities or legal professionals for specific advice and guidance.

Thanks for reading and hope you found it helpful!  I'm always here to help please call or text me today, 619.972.9462, if you'd like the contact information of an expert I trust in this field that can help guide you through the process.