California Homeowners, Earthquakes, and LA Insurance

 

The problem with California homeowners is, because earthquakes are a rare occurrence, many opt not to purchase LA insurance coverage for quakes. But certainly you don’t want to wait until after such a disaster to discover that your current insurance policy doesn’t actually cover everything you’re likely to lose if a large temblor unleashes catastrophic results. There are a couple of things that you should consider rectifying now, which will give you some reassurance that will, not only allow you to enjoy some peace of mind, but also give you the full protection you deserve.

Make an inventory list of your valuables

Filing a claim when the time comes involves proving you owned items that were lost, and you’ll also need to verify their actual worth. This can be a breeze if you go through your home and record all items using a video camera or smart phone. Simply walk through each room, and capture images of everything that you own on tape or digitally. Otherwise, you can write everything down on a piece of paper, provided you have receipts as verification.

Keep all of this, your list and receipts, video or photos, in a safe-deposit box with a copy of your policy. If you plan on keeping your inventory records at home, make a second copy to give to a friend or relative, or keep this at your office away from home.

Handling the claims process

Ask the agent specific questions on exactly how to file a claim, and how claims are handled, especially when it comes to providing you with compensation in the form of money for repairs or replacement. Based on your policy, the company may pay you for all the things that were lost, or only those things that you decide to replace. You may wish to know whether you’ll receive your entire claim upfront, or just a fraction at first until the claim is completed.

Purchasing earthquake insurance is a safe bet

If you live in California, this is an area that is prone to earthquakes, even though major quake activity is rare. Your la insurance policy you should state whether or not you have this coverage in place. It pays to know that most standard property policies don’t cover these types of disasters. Play it safe and get this coverage before the next “big one” hits!

The Protection Provided by Home Insurance in Los Angeles

Homeowners have a lot at stake and the risk of being sued along with the exorbitant amounts of money being awarded could be financially devastating. Courts are continually awarding larger amounts of money to victims and those with homeowners and auto policies have a specific limit on liability insurance that can leave those insurers holding the bag for settlement amounts not covered by these policies.

If an unfortunate accident should occur in your home, on your property, or involving your car, it would help to have enough liability insurance from your current policy to cover any costs for alleged negligence. Since it is hard to predict how much a judge may award the injured person, an umbrella policy, as part of your home insurance in Los Angeles, can provide you with much-needed protection.

Added protection you can utilize

Liability insurance is that portion of a homeowners or auto policy that pays for expenses such as the injured persons medical bills, rehabilitative therapy, and lost wages due to the negligence of the at fault person. The liability portion of an insurance policy will also covers any legal defense required.

Umbrella coverage is designed to give you the added liability protection needed above and beyond the limits on insurance policies currently in place. With an umbrella policy, depending on the insurance company, you could add an additional 1-5 million in liability protection. This protection is designed to cover costs when the liability on other current policies has been exhausted due to all of the medical expenses for the injured, plus the legal fees of the negligent person.

You have a financial responsibility that holds you accountable for bodily injury and property damage resulting from car accidents that you are involved in, and, as the person at fault, mobdro for iphone you could be sued for any damages. Your personal assets could also be seized resulting from a judgment in a lawsuit. Laws are also in force for watercraft owners.

The good news is that a personal liability umbrella insurance policy through home insurance in Los Angeles can give you that added liability protection without a large added cost. Furthermore, liability insurance covers one’s non-business activities anywhere in the world. Having the added protection from this type of policy is coverage you really should have in place.