Buying a home in San Diego is an exciting journey, but one crucial step that often gets overlooked is securing homeowners insurance. With increasing wildfire risks, rising premiums, and insurers limiting coverage in certain areas, waiting too long to find a policy can create unnecessary stress—or even delay your closing.
Why Homeowners Insurance is Becoming Harder to Get
In recent years, homeowners across California, including San Diego, have faced challenges securing affordable and comprehensive insurance policies. Here’s why:
- Increased Wildfire Risk – Many San Diego communities, especially in inland and hillside areas, are in designated high-risk wildfire zones, leading insurers to limit coverage or impose high premiums.
- Fewer Insurance Options – Due to financial risks, some major insurers have stopped offering new policies in California, making it harder for homebuyers to find coverage.
- Stricter Requirements – Homes with older roofs, outdated wiring, or proximity to brush may face underwriting challenges or require additional inspections.
Why You Should Start Looking for Insurance Early
- It’s Required for Your Mortgage
If you’re financing your home, your lender will require proof of insurance before closing. Delays in finding a policy can push back your closing date and create unnecessary complications.
- Limited Options Mean You Need Time to Shop Around
With fewer insurers operating in the market, finding a policy that fits your needs and budget takes time. Starting early allows you to compare rates, explore discounts, and secure the best deal.
- You May Need a Backup Plan
If private insurers won’t cover your home due to wildfire risks or other factors, you may need to explore the California FAIR Plan, a state-backed option for high-risk properties. This process can take extra time and may require additional coverage.
Take Action Now
Don’t wait until the last minute to secure your homeowners insurance. Start researching your options early, speak with multiple providers, and ensure your policy is in place well before your closing date. If you need recommendations for trusted insurance professionals, we’re happy to help!
By planning ahead, you’ll protect your investment and ensure a smooth home-buying process in San Diego.