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Los Angeles Home Insurance Rates

Los Angeles home insuranceHome prices in Los Angeles and Southern California are some of the highest in the country. However, the cost of Los Angeles home insurance isn’t. Home insurance rates in Los Angeles, Orange, and San Diego counties are very much the same as those in the rest of the country and oftentimes even less. There are a couple reasons for this. First, catastrophic perils such as tornadoes, hurricanes, and freezing weather aren’t a factor here in Southern California. We have earthquakes, but it’s rare for an earthquake to cause significant damage to a home (besides, that’s what earthquake insurance is for). Secondly, the replacement cost used in home insurance rates is based on the value of the home itself, insurance calls this the dwelling, and NOT the land.  Here in Southern California, home prices are high because we are paying a premium for the land (location-location-location) and the actual home price is similar to home prices in the rest of the country.

We typically insure homes in Los Angeles/San Diego/Orange counties for around $150-$200 per square foot. To insure a standard home (1,500-2,400 square feet) in these areas, you will pay approximately $1,000-$1,500 per year on average. Larger or more upscale homes are insured from about $200-$300 per square foot.  So it is not uncommon, especially in the Southern California coastal areas, for the replacement amount or dwelling coverage on the home insurance policy to be less than the purchase price.

You should also take advantage of the various discounts that Farmers Insurance offers, such as the Farmers affinity discounts, which are about 15% savings, depending on your occupation or line of work. There is also a 25% discount if you insure both your home and auto with us. Farmers offers other discounts too, which can often result in Los Angeles home insurance rates under $1,000 per year.

If you have any questions about home or condo insurance rates in the Southern California area or questions about discounts that might be available to you, please call me at (949) 436-0740.

Security System Can Provide a Home Insurance Discount

home insurance discountOn this day in history, on December 2, 1969, a patent was granted for the first home security system. And speaking of  home security, did you know that an alarm system can provide a home insurance discount of 5% on your premium? Not only will it provide peace of mind and a potential deterrent for criminals, but it could also save you money.

California is above the national average for burglaries, and Orange County is nearly double the rest of the state*!

If you have questions or would like to discuss this particular home insurance discount or any aspect of your home insurance policy, please contact me today.

Your friendly Farmers agent, Pavel

(949) 436-0740

* Based on analysis of information provided by the FBI for 2013 and January through June of 2014

Vacant Home Insurance

vacant home insuranceDo you have a vacant home? Maybe your primary residence is under construction and you moved out temporarily. Or your rental property is between tenants. Perhaps you moved out of your home but haven’t sold it yet. Whatever the circumstances, vacant homes present additional risks, since no one lives there. Typical home insurance policies do not extend coverage when a residence is unoccupied. Farmers offers insurance products specifically for unoccupied and vacant homes.

Farmers’ vacant home insurance provides coverage for additional risks such as vandalism and malicious mischief. Those perils are not always covered by policies from other insurance carriers. We also provide a 12-month policy with pro-rated cancellation. This is convenient when you don’t need a full year of vacant coverage. Or if your property becomes occupied earlier than you anticipated. In addition, Landlord policies can be easily endorsed to provide vacant home coverage when your rental property is temporarily unoccupied.

Please call me with any questions or concerns on vacant home insurance for your unoccupied home or rental property. Also please remember to let your insurance agent know if your primary residence will become vacant for any length of time and for any reason. It helps to make sure you are properly covered, should a loss occur while the home is unoccupied.

Three Signs That You May Have a Slab Leak

Slab leaks are a common problem in Orange County, California homes. Depending on whom you ask, there are various reasons for this. Organic matter and other soil minerals can wear away at the copper pipes buried in the concrete slab foundation. Others blame the water district and the additives in our tap water, which could erode the pipes and cause them to fail. And others say high water pressure is the main culprit.

Whatever the truth is, or possibly a combination of all these and other factors, suffice it to say that water damage caused by slab leaks are the most common home insurance claim type I see in my business.  And while slab leaks can flood your homes and cause costly damage, they can also go undetected for a month or more.  Sometimes leaking water simply drains down into the slab and soil, and you never see damage inside your home at all. Here are three signs to watch out for. Any of these could indicate a slab leak.

  1. Water heater making more noise than usual, or you notice it running late at night. Slab leaks are almost always a hot water line.
  2. A warm spot under your carpet or hard floor.  The hot spot can even be in a straight line and extend many feet.  The water is simply pooling alongside the length of pipe, inside your slab.
  3. Obviously an unusually high water or gas bill should be investigated immediately.

As I’ve mentioned in the past, one method of prevention is to regularly test your water pressure. And also learn where the water shutoff valves are in and around your home.
slab leak water shutoff
If you have any questions regarding water damage or claims related to slab leaks, please contact me.

Pavel
(949) 436-0740

Orange County Home Insurance Rates

Orange County home insuranceThe cost of purchasing a home in Southern California is quite pricey due to the high demand to live here. However, the price for home insurance is comparable to the rest of the country and many times even lower. The reason for this is that Southern California doesn’t typically experience the devastating perils that affect other areas of the country such as hurricanes, tornadoes, freezing, and windstorms.

We normally insure homes in the Orange County area from $150-$200 per square foot. More customized homes will be insured from $200-$300 per square foot. It’s important to remember that home insurance replacement cost is for the dwelling and not the land. So it is not uncommon, especially in the Orange County area,  for the replacement amount or dwelling coverage on the home insurance policy to be less than the purchase price. Thus, Orange County home insurance rates are similarly priced to the rest of the country.

A standard home (1,500-2,400 square feet) in Southern California (Los Angeles, Orange County, and San Diego) will typically run $1,000-$1,500/yr to insure on average. This price is lower than many other parts of the country like Texas and Florida that get battered by hurricanes a few times per decade. If you factor in our 25% home/auto insurance discount, the Farmers affinity discounts, and other discounts, we can often insure your home for under $1,000/yr in premiums.

If you have any questions about home or condo insurance prices in the Southern California or Orange County area, please call me at (949) 436-0740.