All About Home Insurance In High-Risk Areas

​The 2018 wildfire season was the most fatal and most damaging wildfire season of all time in California. Fire centers took action to alleviate the catastrophe. Here’s the result after the tragic event —the fire suppression costs reached $1.792, and the total cost of all the damages stretched up to $3.5 billion. With this, what is now the stand of California when it comes to home insurance?

The Impact of Catastrophes to Insurance Companies
Insurance companies provide adequate assistance during emergencies and natural disasters. Homeowners feel safe when they are insured because there’s an assurance that they will be able to recover through their coverage quickly. 

But, the case in California alarms insurers. The 2018 wildfire season caused $12.6 billion of insurance claims. It has been noted that the wildfires happening in the state keep getting bigger. There’s a continued increase of recurrence, and the destruction is getting worse than before. In fact, almost 12,000 homes were destroyed by the mishap in 2018 catastrophe.

Due to what’s happening in California, some property insurers are getting pressured. It’s true that some of them decline the renewal of homeowners’ policies in fire-prone locations.

What You Can Do If You Live in High-Risk Area
A lot of Americans prefer living in the “wildland-urban interface,” like California. Why? It’s because the geography is quiet with picturesque realms where cities and town end and grasslands are abundant. However, if your home is near the vegetation, you are exposed to complex risks like fires. So, if you live in a high-risk area, you must be aware of climate change and other catastrophic events. 

Moreover, other residents in the high-risk areas decided to save money by cutting back on their insurance coverage. Some households dropped their policy entirely due to lack of funds.

Here’s what you can do. Talk to a reliable insurance agent to help you assess everything. He can provide you helpful advice for you to get proper coverage that you need, especially if you have a family to protect.

Good to know: Households who live near the fire station get lower insurance rates because insurers consider the area. The safer your home is, the lower your insurance premium becomes.

One More Thing Before You Go
Don’t compromise the safety of your family. Get the basic home insurance plan from a reputable insurance company.

At American Eagle Insurance, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (225) 667-7377 or Click Here to request a free quote.