Best Homeowners Insurance Agencies in Santa Clarita

Frequently Asked Questions

• Introduction

  Homeowners' insurance is a type of property insurance used by private property owners to protect their home and property from a range of risks and liabilities. It is also called home insurance.
  

  
  

  All homeowners' insurance policies cover the primary home on a property, meaning that most damage from weather, accidents, vandalism, and other events will be at least partially paid for by the insurance company. Many policies also include coverage for other structures, personal property, and some premises liability.

  
  

  It is not required by law that a homeowner purchases insurance for their property. However, if you have a mortgage, the lender will usually make purchasing a homeowners' policy a mandatory part of the loan process. Since the mortgage lender is essentially selling you the home, they require you to protect the investment.
  

• How much is homeowners insurance in Santa Clarita?

  Homeowners insurance policies in Santa Clarita will cost you around $1,551 every year or $129 per month. The annual figure is approximately 38% lower than the national average, which is pegged at $2,282. Keep in mind that home insurance rates are not the same for all houses and that the price points are likely to change over time.

• What factors affect the rates of home insurance policies in Santa Clarita?

  The rates of homeowners insurance policies in Santa Clarita vary from one home to another due to a number of factors. For starters, the size and age of your property are some of the first things to consider. These factors also determine the amount of coverage you need, eventually influencing the policy's price point. Where your house is located or the ZIP code and your credit score are other factors that affect home insurance rates.

• What is the difference between home insurance and a home warranty in Santa Clarita?

  Home insurance policies in Santa Clarita cover financial losses in case of theft, burglary, fire, and certain types of accidents and water damage. On the other hand, a home warranty is a separate contract for coverage of incidents or items where home insurance does not apply. Usually, home warranties cover repairs and replacements of items often subject to wear and tear.

• Who regulates homeowners insurance in Santa Clarita?

  The California Department of Insurance (CDI) oversees the insurance industry throughout the state, including Santa Clarita. It was established in 1868 as the federal government was creating insurance regulatory functions per state. Included in the CDI's functions are conducting market reviews, licensing agents and brokers, investigating insurance fraud, and resolving client concerns.

• Are Santa Clarita homeowners required to have home insurance?

  No. Under California laws, which Santa Clarita follows, homeowners are not required to insure their homes. However, most lenders, if you are paying your house on a mortgage, would require their clients (the homeowners) to get home insurance coverage. This is to ensure that the property is protected from financial loss in case something unexpected occurs, such as burglary or a natural disaster.

• What determines the price of homeowners insurance premium?

  The premium, or monthly cost, of your homeowners' insurance policy depends on several factors, including the value of your home and amount of coverage you choose. Your credit history and whether the property is in a higher risk area also play a role.