When you’re shopping for the best home insurance in Sacramento the easiest way to get great coverage is to go through an independent home insurance agency such as Eugene C Yates Insurance Agency. The benefit of going to an agent is we aren’t restricted to using only one home insurance company. Our agents have access to multiple top home insurance providers and firsthand knowledge of the best homeowners insurance discounts available. This makes it incredibly easy for them to find you the best home insurance coverage at the lowest rate on the market.
Eugene C Yates Insurance Agency has been helping Sacramento CA homeowners get great rates on amazing home insurance coverage since 1946. In the last 76 years we’ve learned a thing or two about homeowners insurance coverage and we pass on that experience to all of our clients. Not only that, we also pride ourselves on great customer service so you can always expect a friendly knowledgeable home insurance agent when you contact us!
If you are interested in getting a cost free custom home insurance quote, please do not hesitate to call us. We will have one of our wonderful agents help walk you through the process and answer all of your questions. Please call us today at 916 313 6100.
What Affects the Cost of Homeowners Insurance Coverage?
One of the biggest factors when determining home insurance rates is dwelling coverage. Which is mostly based off the cost to rebuild or repair the home if it is damaged or destroyed.
Many homeowners may think that their home insurance is tied to the homes value. This isn’t exactly the case so when it comes to the increases in home prices the cost of home insurance should not be affected. Below are a few things that may make an impact:
Pandemic shortages:
The supply of building materials has been limited while demand has surged. We first began to notice this when the cost of lumber skyrocketed around April 2020. Another product in low supply and high demand is computer chips which are used in many of the home components. When the cost to rebuild a home goes up, more than likely homeowners insurance rates will follow.
Natural disasters:
The cost to rebuild your home has been affected by natural disasters in large scale. For example wildfires have become increasingly problematic. They have increased the demand for building materials which in turn makes the cost to rebuild a home more expensive. The other issue is some homeowners have even been finding it difficult to get coverage or renew their current policy if they live in a high risk area.
If you can not get homeowners insurance coverage because you’ve been denied coverage from a traditional home insurance provider, we have options for you. At Eugene C Yates Insurance Agency we have been helping our clients get home insurance coverage through the California FAIR Plan and Differences in Conditions insurance. Please keep in mind these policies do come with higher premiums than a standard home insurance policy but they will provide protection for wildfires.
Claims have increased:
Some states have seen a fairly high number of catastrophic events over the last few years. This usually leads to insurance providers needing to raise rates to compensate for the increased number of claims and the added risk.
Homeowners Insurance Add-ons to Consider
There are separate home insurance add-ons and coverages that may increase the cost of home insurance but in the long run they could save you a ton of money. Below are a list of homeowners insurance add-ons you may want to consider:
Extended replacement cost:
If building costs increase after a severe disaster extended replacement cost will pay between 20 and 25 percent above whatever the limit of coverage is. You will want to check with your home insurance agent to find the finer details.
Inflation protection:
If you’re worried about prices increasing having inflation protection in place may be what you’re looking for. Having this sort of inflation guard in place will help increase your coverage to reflect the current costs of homebuilding.
Earthquake insurance:
In California earthquakes can be an issue. Although, a standard homeowners insurance policy will not cover you for earthquake damage to your home. If you feels this is a risk you want to protect your home from, it may be a good idea to get an earthquake insurance policy.
Flood insurance:
Flooding can also be an issue in some areas and just like earthquake damage, flood damage is not included in your standard home insurance policy. If you live in a high risk flood zone you may want to consider flood insurance.
Contents replacement cost:
Your typical home insurance policy usually will reimburse the depreciated or actual cash value of your stolen property. If you do not want to have to pay the difference you may want to look into replacement cost coverage.
Best Home Insurance in Sacramento Quote
If you are interested in a cost free custom home insurance quote, please give us a call today at 916 313 6100