What are the typical insurance policies a home owner should hold?

Asked by Trulia Sacramento, Sacramento, CA Mon Dec 10, 2012

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Jim Walker, Agent, Carmichael, CA
Tue Dec 18, 2012
I have been interviewing a lot of Hurricane Sandy Victims in the past few weeks... I strongly, strongly strongly suggest getting flood insurance. No exception to that if you are in a Sfhra flood zone such as A or V. but you should buy it even if you are in an x or a c in many cases. : More disaster damage comes from flooding than any other cause. Insure both the building and the contents And yes get the other coverage suggested by Cindy, Jamie and Sue.
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Cindy Davis, Agent, San Diego, CA
Mon Dec 10, 2012
The one thing I did not see on the below response was content insurance. If you own a condo, you don't need the other things like earthquake, liability, fire, flood, etc. That's what your HOA covers. You do however need insurance for your belongings, furniture, rugs, appliances, fixtures, etc.
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You do not want to assume that the HOA covers everything. You will want to check the CC&rs and the current HOA insurance to see what they do cover. Some will cover:
from dry wall in
from the studs in
others will cover everything (as originally built)

The proper condo insurance can be a little tricky. I just reviewed two policies in the same complex with the same Carrier and they were completely different, because one of the agents assumed.

Make sure you use a knowledgeable insurance agent just as they should contact you for Real Estate.

Thank you,

Jamie Collins
Flag Mon Dec 10, 2012
Jamie Collins, Agent, Fair Oaks, CA
Mon Dec 10, 2012
While every client will have different needs. As well as it will depend on the type of residence and where it is located.


Fire (for the replacement cost of the structure and belongings)


(if the property is anywhere close to a flood area. Even some areas that are not considered flood areas will flood.)

I would always recomend an Umbrella Policy of at least 1M. A lot of people say I do not have much, so I do not need a lot of Insurance. If there is accident and you are not properly insured. You could be paying upto 49% of your wages for a very long time. That is what most people forget about. Wages are typically your most valueable asset.

Insurance is one of those things that seems expensive until you need it. Then it is the cheapest thing you will ever buy.

Call me if you would like a personal review of your current and future Insurance needs.

Jamie Collins
J.E. Collins Insurance Agency
Home-Auto-Umbrella & Toys
Over 23 years of experience
in Real Estate Services
Insurance / Mortgage Training
916-257-3779 direct
877-810-2763 fax
Dept. of Insurance # 0H71400
Dept. Real Estate # 0104820
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Sue Archer R…, Agent, Palm Harbor, FL
Mon Dec 10, 2012
That's personalized to what you need to protect. The lender will require standard Property and liability insurance for the home. You might also consider other insurance if you have alot of valuables. I often suggest that my clients consider getting their home insurance where the have their car insurance for the multi policy discount it provides. If you want great education on insurance, call Vickie Rosalli at State Farm insurange at 916 966-7111.

it's always a good idea to understand what types of insurance you need and how much. Otherwise you might be spending money on insurance that isn't even relevant, and not on areas that you need. Umbrella policies, riders...there's alot to understand. Call Vickie.
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