Check Your Malibu Home Insurance Coverage

by ritasimpson on October 9, 2012

in Home Owner Reference Guide

With high fire danger looming In the Southland this is a good time to review your homeowner insurance for your Malibu Home.  One often overlooked coverage that may save or cost you tens-to-hundreds of thousands of dollars depending on the rebuilding cost of your home is a little known coverage called “Building ordinance or law”.  If your home is over ten years old I am talking directly to you. If your home is damaged or destroyed due to a fire for example, your city will require building permits in order for you to proceed with repair or replacement. Since city building codes may well have changed since your home was built your building ordinance coverage will likely come into play when your company settles the loss regardless of how much dwelling coverage you have.


Current city codes may require you to upgrade many features even if they were not damaged, such as wiring, heating, or plumbing.  Most homeowner policies allot 10% of the dwelling coverage for these required upgrades.  Some cities can be very demanding in requiring tens of thousands in upgrades that you never even thought of and you may only discover the inadequacy of your coverage after a substantial loss.  Your insurance policy is a contract for specific coverages and amounts.  Don’t get caught short dealing with a devastating loss only to find out you did not have proper coverage.  Review this coverage with your agent and find out how it impacts your particular home.


This tip courtesy of Rick McMichael, State Farm

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