Why is it important to have homeowner’s insurance? When you purchase your home, for most people whether it’s an investment or whether it’s going to be your primary residence, this is going to be one of your key financial obligations. If that home were to catch on fire or if your personal belongings were stolen, a lot of us do not have ready cash to come up with. The key to insurance is to make whole, it’s to help that individual get back to their lives and to keep moving forward. We offer home insurance on a condo or a home, we offer personal liability coverage or a single policy for liability. We offer auto insurance, earthquake insurance, and life insurance may be term or permanent.
Why would somebody need flood insurance? Actually there are certain areas here in California which are considered flood zones and when you are buying property in certain areas, the lender will require that you have flood insurance, in order to close your deal. A lot of homes are older here and with most insurance policies, they cover the structure. So let’s say a pipe bursts, the dwelling portion of your home would be covered, the floors and anything that’s water impacted. It’s the homeowners responsibility for maintenance and upgraded if needed.
We had a major earthquake here in California back in 1975 and a lot of your private insurance companies stopped selling earthquake insurance. One of my policy holders was out on the slopes, had a skiing accident with an attorney. That attorney actually filed a suit. That discount can be up to 25% or more on your homeowner’s premium. We just want to remind you that we are here every Saturday at 3:00pm on Call Toni Real Estate Radio where we are committed to bring you tools for positive change. If you would like more information, you can go to CallToni.com and you can click on the prior shows link. You can always reach us at our off-air number which is 1-888-309-9797. Thanks for tuning in.