California Mountain Home Insurance Rates are Insane

8 Replies

Last month one of my properties in Running Springs came up for insurance renewal. It’s a small 1400 sqft homes in the mountains so considered fire zone. For the past 6 years I’ve been paying about $1600 annually for my policy but the agent called and said it came in at $5000 this year! 

Has anyone else had this issue? Any suggestions? Anyone out there who has mountain property in California know of a good agent who has experience with this?

Originally posted by @Shari Nott mcKinley :

Last month one of my properties in Running Springs came up for insurance renewal. It’s a small 1400 sqft homes in the mountains so considered fire zone. For the past 6 years I’ve been paying about $1600 annually for my policy but the agent called and said it came in at $5000 this year! 

Has anyone else had this issue? Any suggestions? Anyone out there who has mountain property in California know of a good agent who has experience with this?

 Sorry to hear that.  I do not have any solution, but can tell you I met with a CEO of a top 100 insurance carrier last week and they are stating that in the next 12 months, Fire zones in CA will be the hardest place in the US to find affordable coverage.

Please post any solutions you do find.

Good luck

I would sell this property if you can afford to lose it. Insurance will get worse and the fires are an actual valid concern for the area.

@Shari Nott mcKinley  

I have a rental in Crestline and use the California Fair Plan. I also live in Twin Peaks and go through Farmers but I hear  Farmers and many other insurance agencies are now doing a wrap around with the Cal. Fair Plan. I have read on the local Facebook page " you know you're from the mountains when" that USAA will cover at a decent price. I am actually doing what @Jason Cacioppo mentioned above and researching other areas both in CA and out. I hope this helps a bit, kind of a sad situation as the mountains are such a nice place. 

@Brian Grant   I have decently-priced insurance from USAA in Crestline.  My sister (also a USAA member) has a vacation home just 1.5 miles from me, also in Crestline, that USAA simply declined to cover.  We're not sure why.  She went to one of the mom-and-pop insurance brokers on the mountain and bought a policy from a lesser-known company.  

@Brian Grant I am also with Farmers and that’s exactly what they did to bring the cost down, a wrap around policy with FAIR. When the agent explained it to me, it seemed so pieced together but I’m starting to understand how it works. I guess I’m as much concerned with the future resale values at this point. Thank you for your response.