Personal injury must be added separately to your homeowners policy

Personal injury must be added separately to your homeowners policy

Whether you’re living in Santa Clarita or Pine Mountain Club and Frazier Park,  you have lots of options regarding your level of coverage when you buy homeowners or condo insurance. You can get personal liability limits of $100,000, $300,000 or $500,000. That will provide coverage in the event that someone comes onto your property and gets seriously injured. Maybe you have a bad crack in your walkway that causes someone to trip and fall. That could easily lead to medical bills totalling hundreds — or even housands of dollars. Ouch! Or you might have a reclining lawn chair that suddenly collapses, causing a guest to hit their head on your concrete patio. These kinds of incidents might seem random, but they can happen at any time. And they often come out of nowhere. But what about slander and libel ? How does your current homeowners or condo policy cover that? Most people don’t associate defamation lawsuits with homeowners insurance, but it can crop up. It falls under the category of personal injury. And remember this: You have to include personal injury as a separate add-on to your homeowners or condo policy in order to be protected.  Here’s an example. Suppose you go onto Facebook and rag on your neighbor for something you thought he did. And suppose you later find out your accusation isn’t true. Well, that leaves the door open for him to sue you. And if you don’t have personal injury coverage you could be in a heap of trouble. So the next time you renew your insurance check to see if you have adequate personal injury coverage. It can make a difference!...
What You Need to Know About Home Insurance

What You Need to Know About Home Insurance

We all know home insurance is intended to cover you financially in the event an unexpected event occurs. The thing is, homeowner’s insurance is a lot more valuable than that. What you need to know about home insurance is that it isn’t just intended to help pay for something that is damaged, it’s most useful purpose is to help you feel safe and secure in where you live. In the event that something does significant damage to your home (recent rainstorms, anyone?) you’ll probably have your hands full trying to regain stability in your life, and your home insurance will help by making sure your finances aren’t going to be an issue. If you’re interested in purchasing or upgrading your homeowner’s insurance, here are a couple things to take into account: What the policy does/doesn’t cover Homeowner’s insurance will typically cover damages to your property and possessions in the event of certain disasters and circumstances. It will also provide liability coverage in the case where someone gets injured on your property and wants to sue. What homeowner’s insurance policies usually do not cover are things like earth movements (sinkholes, earthquakes, landslides), war, government action, bad workmanship or repair and defective maintenance. It’s possible to purchase supplemental coverage in the event that you live in an area where your regular policy doesn’t cover every possible danger. Which Preventive Actions Can Reduce Premiums Things like working smoke detectors, burglar alarms, deadbolts and fences around pools can sometimes lower your premium. Insurance companies price their policies based on how much risk is foreseen. If you can lower your risk, you can often lower...
Points to Consider Before You Purchase Auto Insurance

Points to Consider Before You Purchase Auto Insurance

When you choose to buy auto insurance, you’ll want to balance what’s economically viable with coverage that fits your particular needs. We at Insurance SCV have been in the insurance industry for years, and our experience in the industry has helped tons of clients in the Santa Clarita Valley find auto insurance that’s right for them. If you’re in the market for auto insurance in Santa Clarita, here are a few points to consider before you purchase auto insurance: Get to Know Your Assets Take a look at your salary and any additional assets you may have. You’ll want to take note of any real estate, stocks and bonds, and anything else that might expand your net worth. The more you’re worth, the more you stand to lose in the event you’re found liable in an auto accident. That being said, the higher your net worth, the more coverage you’ll likely want to buy. Get to Know the Vehicle You Want Insured The type of coverage you’re after will depend greatly on the nature of your ownership over the vehicle you want insured. For example, an older vehicle that you own outright might not necessarily require comprehensive coverage. On the other hand, if you’re leasing or financing your automobile, your lender may very well require that you purchase comprehensive and/or collision coverage. Who’s Going to be Driving? If the vehicle will be driven only by you and/or your spouse, take that into consideration when purchasing auto insurance. If you have children of driving age, you may want to think about buying insurance with higher liability coverage due to the fact that...
Storm damage Valencia | Insurance SCV | Carol Smith

Storm damage Valencia | Insurance SCV | Carol Smith

Southern California is finally getting rain – and lots of it! After nearly 6 years of heavy drought, the region has had multiple storm systems move in, and they’ve brought much needed relief to the area. The hills are green, the creeks are flowing, the air is clean … It’s a prefect time to venture out onto some of the Santa Clarita Valley‘s hiking trails. But the rain also highlights concerns many people may have regarding their homeowners policies. Homeowners insurance typically covers storm damage that might occur, such as falling trees or tree limbs that crash through your window or roof. But flood insurance? That has to be purchased separately. Earthquake insurance works the same way. It’s not included in your homeowners policy. You’d be surprised how many people don’t know that. And in some cases that realization doesn’t occur until they’re knee deep (no pun intended) in flood water that has overflowed from clogged street drains or a broken water main on the street that sends water onto your lawn and into your kitchen or living room.  Another thing to remember is that each occurrance of storm damage has its own deductible. So while it’s not likely that you’d suffer two or more separate incidents of storm damage in a given year, it could happen. Something to keep in mind. Another thing to keep in mind is that insurance companies require you to trim the trees away from your home to avoid potential damage from limbs that might break off and cause serious damage to your windows, roof or other parts of the home. Water – we definitely need it here in Southern California. But...
Condo Insurance vs. The HOA

Condo Insurance vs. The HOA

If you live in a condo, there’s a good bet your HOA has an insurance policy in place. HOA master policies typically cover damage to the building and pay for accidents that occur in common areas and other places on the property. Unfortunately, HOA master policies usually end where your door begins – meaning that you’ll need to purchase your own condo insurance if you want to ensure your personal space is covered. Condo insurance can be a lifesaver if: Your HOA has a “bare walls” policy. This means that it’s up to the owner of the condo to ensure everything inside with the exception of the floor, walls and ceiling. So, as a condo owner, you’ll want condo insurance that covers things like cabinets, plumbing, lighting, and appliances. Your home is broken in to. If someone breaks into your home and steals your belongings, your HOA master policy won’t cover them. It will be up to you to purchase condo insurance that includes personal property coverage. Your condo is uninhabitable due to damage. This is a big one, especially with all the rain that’s been hitting Southern California recently. If your condo is rendered uninhabitable due to fire or another issue covered by your condo insurance, then your insurer will pay the expenses that arise from having to live somewhere else. Ultimately, it will be up to you to decide how much condo insurance to buy, and the price will vary depending on the scope of the coverage and where you live. If you have questions regarding condo insurance, or would like a quote, call Carol at 661-803-3803....