STR Insurance provider

10 Replies

I know there have been many STR insurance discussions but I am in a serious bind here. Our property is in Lake Arrowhead which is a high fire risk area, the only company I could find to insure us for STR coverage was Proper at a cost of $4500 per year. We've been insured with them for a year and just got a notice that they will not be renewing due to the fire danger. I have reached out to CBiz and they will also not provide fire insurance. What do I do?? Anyone have any other providers that have recently come into the market by any chance? Anyone in the mountain areas of CA having this issue? Would love some guidance!

Talk to a local independent agent.

Originally posted by @Denise H. :

I know there have been many STR insurance discussions but I am in a serious bind here. Our property is in Lake Arrowhead which is a high fire risk area, the only company I could find to insure us for STR coverage was Proper at a cost of $4500 per year. We've been insured with them for a year and just got a notice that they will not be renewing due to the fire danger. I have reached out to CBiz and they will also not provide fire insurance. What do I do?? Anyone have any other providers that have recently come into the market by any chance? Anyone in the mountain areas of CA having this issue? Would love some guidance!

Not sure about STR specific, but fire insurance up here (and anywhere in high fire danger areas in California) have gotten completely out of control. Farmers still insures up here, I have Allstate, and there's a broker in Crestline called MTN Insurance Services. They may be able to help you out. But just to give you an idea of the cost, my (and most of my friends) are paying about 1% of my home value annually.

If you do get dropped you can also look into the California Fair Plan for just fire I believe.

I live in the Lake Arrowhead area. Lots of people are turning  to the California Fair Plan. I tried to add the link but could not get it you can google the name though  

So as an update I just got my quote from California Fair Plan, because there is STR use I was told I need to get a commercial plan which is $5592, then I need the additional policy to cover what CFP doesn't cover for an extra $1600?!! I really am pulling my hair out, it is a 1200 square foot 3/1 cabin, how in the world can the insurance be this high??

@Denise H.   You're in California.  The land of fruits and nuts. Everything is going to be more expensive in California.  Out here in Hades Kansas, I can buy 3BR bank foreclosures for around $10k.  They bring in around $600/week when rented. 

@Denise H.   I read the news about the forced power blackouts.  They power companies aren't allowed to clear brush in fire prone areas.  Fires happen and spread through the brush.  So now they cut the power in areas with brush.  

@Paul Sandhu The real problem is PG&E not maintaining and updating their equipment. They have been blamed for 1500 fires since 2014, with the Paradise fire last year I guess they just don't feel they can take any chances when the winds pick up. It really is crazy the amount of horrific fires we've had the last few years.