Homeowners insurance has become increasingly difficult to obtain in the Eastern Sierras and Mammoth Lakes in the past few years. This has been a direct result of insurance carries reducing their risk since major wild fires have dramatically impacted California in recent years. Below is an article written by Brian Jaegers who is a local insurance in Mammoth Lakes, CA explaining in more detail the increasing challenges of getting homeowners insurance in the Eastern Sierra. Brian is the most knowledgeable person I know in the area when it comes to homeowners insurance, Brian can provide you a homeowners insurance quote if you are currently purchasing and in escrow or if you already own and need a new policy they can help you find the best option. Also it is important to remember that most standard homeowners insurance policies do not cover nightly rental usage. If you are using your property as a nightly rental please make sure your policy includes nightly rentals. Brian and his team can be reached at (760) 934-7548 if you would like a free insurance quote.
“Since 2006 I have been involved in Homeowners Insurance, working from Mammoth Lakes,
primarily within Mono and Inyo Counties. We have seen an evolution in the way Home
Insurance carriers evaluate and write insurance. It seems the dynamic evolution from the
carrier side has outpaced Homeowners and Government Entities, such as the California
Department of Insurance. This is not surprising considering insurance companies are in a
competitive and for profit industry.
An Excerpt from Insurance Commissioner Ricardo Lars’s Notice- Dated 12-5-2019 To: Insurer’s
Writing Residential and Commercial Property Insurance in California. “California’s property
insurers are taking action statewide to reevaluate their risk and retreat from areas they
identify as having higher wildfire risk. In many communities across the state, finding
affordable comprehensive fire insurance has become difficult. So difficult that real estate
transactions have stalled or been cancelled. If this trend is allowed to continue, it could
further disrupt local real estate markets and cause property values to decline, reducing tax
revenue available for vital services to residents such as fire protection, community fire
mitigation, law enforcement, road repairs, and hospitals in these communities.”
What may have been considered an Average Homeowners premium of around $1,500 five
years ago may not be available today as many companies have decided not to offer new
policies in Zip code 93546. We are now dealing with Insurance companies who are specifically
mapping a home’s locations and looking at factors such as fuel loads on their property and
surrounding areas creating a “heat map” of Green, Yellow, and Red Zones.
Fortunately, we are experienced with our communities and have several carriers who are
willing to evaluate and write insurance in our area. We have also participated in the California
Fair Plan when the preferred market is unwilling to insure a home. The combination of a CA Fair
Plan Policy and DIC Combination policy is an option of last resort for some homeowners. We
will continue doing our best for clients and communities combining local knowledge with the
best carriers the marketplace has to offer.
Recent Success:
- Sierra Springs Dr. Crowley Lake- Homeowners $2,166
- Juniper Dr. Crowley Lake- Homeowners $2,021 Snowcrest Mammoth Lakes- Homeowners $2,786
- Pine St. Mammoth Lakes- Homeowners $3,590
- Starwood Estates Mammoth Lakes- Homeowners $8,134
- Canyon Blvd Mammoth Lakes- Condo Unitowners $612
- Snowcreek Par Ct. Mammoth Lakes Condo Unitowners $1,255″
Written by Brian Jaegers
Brian Jaegers & Jane Lawton Lic 0k71124
760.934.7548
www.insscouts.com
https://www.facebook.com/insurancescouts/
