Recent concerns surrounding the future of fire protection services in Wonder Valley have sparked additional fears over the ability of residents in rural communities to get and keep homeowner’s insurance and mortgages. Wonder Valley residents recently learned more about the issue from an expert. Assignment reporter Mike Lipsitz gives the details…
Wonder Valley’s delegate to the Municipal Advisory Council, Teresa Sitz, recently invited Peter Meza, an Associate Insurance Compliance Officer from the California Department of Insurance, to meet with residents there. About 30 residents of the rural community attended; chief among their fears was whether loss of their fire department would lead insurance companies to cancel their homeowner’s policies and leave them unable to secure insurance at all. The answer was a yes and a no. While fire risk alone doesn’t determine insurability and cost, loss of fire service could spur some insurers to pull out of the area; those that stayed would continue to write policies their but rates could be high, coverages low. For those who cannot otherwise find coverage, California offers something called the FAIR Plan; it offers bare bones insurance, but at a price. Meza recommended everyone review their insurance annually. The California Department of Insurance offers handy tools online for comparison shopping. Follow the links in this story at Z1077FM.com for more information.
http://www.cfpnet.com/
https://interactive.web.insurance.ca.gov/apex/f?p=143:16:0::NO:::
WONDER VALLEY RESIDENTS LEARN ABOUT FIRE PROTECTION AND INSURANCE
