Homeowners Insurance in California

[Alistair-and-Jenny0]

We've been renting our 5-bedroom vacation home in Palm Springs, California for 4 years.

I just received our policy renewal notice for homeowners insurance from our current carrier, American Modern. They are asking for 60%+ increase on the premium year on year. Obviously, there are a lot of insurance issues in California currently with the wildfires, etc, but this seems like an outrageous increase. 

Can anyone recommend a good, reasonably-priced insurance company for homeowners insurance that writes policies in Southern California?

Thank you

[Mike-And-Jane0]

@Alistair-and-Jenny0 if your homeowners policy allows you to rent on Airbnb then I would bite their hands off and take it.

[Joan2709]

@Alistair-and-Jenny0 

As @Mike-And-Jane0 allude to....😊

Most typical Homeowner's Insurance policies will NOT cover running an Airbnb on the property as that is considered "commercial activity" and usually that is excluded from coverage. If your insurer finds out you are operating an Airbnb on the property, they will cancel your policy.

You would need a specific Short Term Rental policy to cover the Airbnb and they are more risk and the premiums are much higher than typical Homeowners policies; especially in California. I would start with an independent insurance broker and get there advice for coverage. Some of the companies below do offer STR insurance, but not sure if the offer in California:

CBIZ

Farmers (thru Foremost)

Steadily

Safely

Proper (most expensive, but most comprehensive)

[Alistair-and-Jenny0]

Steadily refused to quote me.

"Steadily does not provide coverage for this type of property at this time."

[Joan2709]

@Alistair-and-Jenny0 

State Farm used to offer it as an add-on to a Homeowner's policy, but didn't State Farm discontinue coverage in California?

[Karen114]

@Alistair-and-Jenny0  I would look into Proper Insurance.  They are insurance just for the short term market.  They are not cheap however the coverage is very comprehensive covering things such as dog bites, bed bugs and loss of income.  

[Alex]

Hi @Alistair-and-Jenny0! 

Were you able to find insurance companies in Southern California? Some members left you some examples in the comments below. 👀

Let us know if it helps! 😊

Have a nice day, 

Alex

[Alistair-and-Jenny0]

Thank you everyone for the suggestions.

For now I've decided to renew my current policy with American Modern. Hopefully, in a few months things will settle down a bit post-wildfire emergency and I will look into some of these other options and cancel the American Modern policy if I can find a better deal.