When picking an insurance agent it is important to know who your agent represents. Some insurance agents are what are called “captive” agents. Captive agents work for the company they represent. Some examples of companies captive insurance agents work for are Allstate, State Farm, or Farmers. Captive agents are limited to only offering products to you that are offered by the company they work for, whether or not that product is the best solution for your unique situation.
An independent insurance agent works for you, not the insurance company. Independent agents are free to find a policy that best fits your needs no matter which insurance company is offering the coverage. Independent agents really do work for you, not the insurance company. They are free to offer multiple policy options side by side for you to review. When the insurance companies compete for your business, you win.
The agents at Alta Vista Insurance Agency are proud to be your local independent insurance agents. We are located in Vista California and strive to be a local independent resource for you, our clients. Our staff is your team, and we are here, ready, and able to provide responsive customer support to our neighbors throughout San Diego County. We primarily serve Vista, Oceanside, San Marcos, Escondido, Rancho Bernardo, and Poway. Please feel free to contact us for your insurance needs.
Contact us today to learn more about how we can service your California insurance needs. We look forward to hearing from you!
Would you marry someone whose history was a mystery? Or are you prone to purchase a car without knowing the facts of its past?
To connect you with the history of a home you’re considering, we’re offering a free report, guaranteed to give you peace of mind and help you avoid time and money-wasting complications during and after the sale.
Get a clue! Come on, seriously.
A C.L.U.E., the Comprehensive Loss Underwriting Exchange, is a loss history information exchange provided by LexisNexis® Risk Solutions Inc. It enables insurance companies to access and use prior loss information in the underwriting process. Think of it as “the cloud of claims”.
Here’s how it works
Each month, participating insurers submit loss information to the C.L.U.E. information exchange, which is loaded to the C.L.U.E. database. Insurance companies request this data by forwarding search criteria such as an insurance applicant’s name, risk address, date of birth, and Social Security Number. The C.L.U.E. system searches its database for information that matches the requested search criteria. A C.L.U.E. report is then generated and forwarded to the insurer. When you or your insurance company receive a C.L.U.E. report, it includes all losses accessed by the search criteria that were reported to us within seven years of the date of the request. Home warranty claims are not included on a C.L.U.E. report.
The C.L.U.E. report is a valuable piece of information to provide you a clearer look into the prior loss history of the property you’re peeking at.
Reading the report
First, you want to look for claims associated with the risk address. The report can sometimes show claims filed on another location owned or occupied by the seller. You’ll want to look for claims frequency rather than severity. These would be claims that indicate a potential ongoing problem or the possibility for future losses. Multiple occurrences to the same areas in the home can indicate faulty or defective systems. For example, water losses and mold are big ones to look for and are one of the most widely reported causes of loss or perils. Other perils to watch out for are fires occurring in the home, not wildfire, and theft or burglary. These type of losses could indicate morale hazards or the home could be in a questionable area. Insurance companies are tightening their guidelines when it comes to water losses resulting from inside water damage, not weather related flood claims. Effective this year, many admitted insurance carriers will decline a risk if there has been a significant water loss on the property within the last 3-5 years. This would include damage exceeding $2,500. Normally, losses follow the insured and can impact the cost of insurance or insurability when moving to a new location. Due to the rise in frequency and extensive costs resulting from water damage claims. more and more companies are looking at water losses at new business and declining.
One Final Thought
The cost of the damage is important and can indicate the severity of the incident and the amount paid by the insurance company for the loss. Accidents happen. Just because a property has been impacted by a large claim or series of claims does not mean you should avoid buying that house. Review the report with your realtor and request a disclosure from the sellers about how the claims were resolved. Were all repairs completed and was everything built back to code? Was the home replaced with like kind and quality?
Talk to your insurance agent about the loss(es) that were filed, how the insurance companies handled the claims and how this will impact insurance for the home moving forward.
What you need to know about protecting your lifestyle
The insurance market is in a “shift”. Rate activity has been increasing, claims frequency and severity has risen, and more than half of homeowners are underinsured by an average of 20 percent according to Christopher P. Hackett, senior director of Personal Lines for Property Casualty Insurers Association of America (PCIAA).
How should homeowners approach their insurance so they make sure they have the right protection for their assets?
We’ve put together a great checklist for homeowners to help you make a plan and take the right path with your insurance.
This is a great resource to use on our Personal TRAIL!
Checkpoint 1: Updates to your home
Whether you recently purchased your home or owned it for many years, it’s important that you review any home improvements with your insurance agent. Things like adding square footage, new flooring, remodeled kitchens and bathrooms, auxiliary dwelling units (AUD), solar panels, etc.
Agent Tip: Ask your agent to recalculate your homes replacement value or insurance to value with the up-to-date information. Be sure to discuss any exposures associated with remodeling or additions with your agent so you have the right protection.
Checkpoint 2: Consider value and cost
A low premium is good, but your home insurance may be less because it doesn’t provide the right protection for your lifestyle. Peace of mind knowing all your assets are fully protected is more valuable than you think. Review your policy and understand the value your insurance company provides; financial stability, exceptional claims handling, and ease of doing business are some of the benefits to consider.
Checkpoint 3: My valuable items?
Look around your house. What are the items that are most valuable to you? Your homeowners insurance generally covers the contents of your home. However, there are limits on certain target items such as jewelry, artwork, collections, antiques and silverware. In order to protect these items up to their full value, you may want to add scheduled personal property coverage. If the items are damaged or stolen, you can have peace of mind knowing you are fully covered.
Review your dwelling coverage. Some home policies have limitations on the coverage for the structure. Make sure your coverage matches the reconstruction cost of your home and add extended dwelling replacement cost coverage. This will provide you with the additional coverage you need in case the replacement cost of your home rises over time due to increased construction costs, labor costs, or supply and demand.
Checkpoint 5: Review the need for earthquake and flood insurance
Homeowners insurance does not cover damage from outside flood waters or earthquakes. You need a separate flood insurance policy and earthquake insurance policy. Talk to your insurance agent about these common perils and how to avoid being uninsured.
Watch our short video to learn more about home insurance
Congratulations! You are in an exciting season of life. One that can be exhilarating, exciting and difficult all at the same time.
We’re here for ya.
Long time homeowners, we’ve got something for you, too!
Seth has three quick tips for you to get through this process as smoothly as possible.
So here you go…three tips for the “homies:”
Compare insurance companies to make sure you get the best rate. The easiest method of doing this? Have your independent insurance agency do it for you. They, unlike a captive agency, have the freedom to help you get the best rate and best policy. They have access to all types of different policies, making it easier for them to find you the perfect policy.
Set up your insurance payments out of escrow. It’ll be less for you to think about every month and lenders like it.
Bundle, baby! As much as possible, bundle your home, auto, rental properties, and “toys.” Your agent can help with this and you will want to pursue this as it can save you up to 30%.
https://youtu.be/ZeiNLTvmQGw
And that’s it!
Click the button below for more insurance tips for home buyers!
A plane drops fire retardant on a burning hillside as the Holy fire continues to burn in the Cleveland National Forest near Corona, Calif. on Tuesday, August 7, 2018. Firefighters are working in rugged terrain amid scorching temperatures that have prompted warnings about excessive heat and extreme fire danger for much of the region. (Photo by Watchara Phomicinda, The Press-Enterprise/SCNG)
California is not off to a good start as we begin an extraordinarily dangerous fire season. We have already seen two of the largest fires in recorded history; the Mendocino Complex Fire and the Carr Fire in Shasta County, make their mark in the last few weeks.
Now, the Holy Fire in Orange County, which started on Monday, has burned more than 9615 acres and is only 5% contained as of this morning’s update from the U.S. Forest Service. About 20,000 residents are under mandatory evacuation orders.
There are 17 large fires burning in California and firefighters are working around the clock. More the 13,000 firefighters and 2300 members of the National Guard have joined the firefighting effort.
Let’s take a moment to recognize all the men and women that are putting their lives in danger every day to keep us safe from wildfires. We appreciate everything you do.
California is using every resource available. According to the New York Times article, California Fire Now the Largest in State History: ‘People Are on Edge’, There are roughly 5,300 full-time firefighters with Cal Fire, who, along with 1,700 seasonal firefighters throughout the state, are often the first to the front lines of the state’s wildfires. The state also relies on thousands of federal firefighters based in California who respond to fires in national parks and forests. And there are 3,500 inmate firefighters who live in camps throughout the state and are routinely called up — nearly 2,000 were deployed on Tuesday.
According to Marti Witter, a fire ecologist with the National Park Service,
“As large as our firefighting resources are, they’re limited, and we’re rapidly approaching the limits of what our personnel can handle. Everyone’s in the air, everyone’s on the ground, and the fire’s just getting bigger. So it’s pretty extreme.”
For all the latest fire updates and evacuation orders refer to Cal Fire. They have a great interactive map that tells you the locations of all the fires burning in California. You can check out their site here:
Since we are already experiencing a high fire season you need to make sure your home is secure and you have a plan. The best resources in the state are provided by CAL Fire. They have an amazing program for all homeowners: Ready, Set, Go!. Being Ready for a wildfire starts by maintaining 100 feet of Defensible Space and hardening homes with fire resistant building materials. Be Set by creating a Wildfire Action Plan with your family. Finally, be prepared to Go and evacuate your home. Leave early, before it’s too late.
Thanh Nguyen with the SoCal Team One Fire Management Team suggested having a packed bag ready to go.
“Even if you’re miles away, you want to be prepared if you’re near the fire area or in an environment that can burn,”
It is also important to create your wildfire action plan. Your Wildfire Action Plan must be prepared, and familiar to all members of your household well in advance of a wildfire. Also, prepare your own emergency supply kit. Put together your emergency supply kit long before a wildfire or other disaster occurs and keep it easily accessible so you can take it with you when you have to evacuate. Plan to be away from your home for an extended period of time. Each person should have a readily accessible emergency supply kit. Backpacks work great for storing these items (except food and water) and are quick to grab. Storing food and water in a tub or chest on wheels will make it easier to transport. Keep it light enough to be able to lift it into your car.
All of this information can be found at readyforwildfire.org. This is a great resource for California residents to learn more about wildfires and how they can take preventative measures and be prepared in the event of a wildfire. They have interactive maps, brochures, instructional videos and links to available resources and more.
You can download the brochures for their Ready, Set, Go! program here.
Want a property specialist to conduct a full fire insurance review for you or your client? Setup a needs based analysis with Alta Vista Insurance and we’ll do a full risk review through our ART of risk management.
Your property insurance specialist, Raymond, has the answers to 5 key questions for those seeking to best protect their lifestyle by insuring their home.
(Psst…If you like the looks of Raymond and would rather watch the
1. Okay, Raymond, what is covered by a California Homeowner’s Policy?
Your standard homeowner’s insurance policy will cover you for catastrophic losses and sudden and accidental occurrences. Some examples would be wildfire, lightning, or if a pipe bursts in the home.
2. What is not covered?
Among other things, earthquakes and floods are not covered. These require a separate policy. Ask your insurance agent about getting coverage for these unusual circumstances today.
3. How much coverage do I need?
On your standard homeowner’s insurance policy, you are insured for the reconstruction cost of your home, not for the market value of the home or land. Need more coverage? Talk with your insurance agency today to discuss options.
4. What about my contents?
Contents are covered on a standard homeowner’s insurance policy but check with your agent to ensure you’re covered for the replacement cost of your dwelling and contents. Fortunately for the insured, no depreciation is considered in the replacement of contents. Let’s say you purchased a couch ten years ago. You will be insured for the replacement of a couch of the same original value without depreciation.
What about my high value items?
For high value items like jewelry, fur, art, etc. there are sub limits on the insurance policy. You will need to add Scheduled Personal Property to your policy. Scheduled personal property is an additional insurance policy for valuable items. Scheduling requires an appraisal. Schedule those to ensure the meaningful items in your home are fully protected.
Before purchasing a home, consider these variables as you reach the insurance inquiry stage.
1) Compare multiple insurance companies
Compare coverage, price and financial stability. You are not required to buy from a particular insurance company, however you want an insurance company that is stable and responsive when handling claims. Shop for value, not price. Customer service and ease of doing business are key when selecting an insurance company that is right for you.
Shop for value, not price.
2) Set up your payment out of Escrow, and use an Impound Account
If you’re like most homeowners, you’ll tack monthly insurance payments onto your mortgage check. The lender will pay your insurance premiums (usually your property taxes, too) out of your escrow account. Lenders prefer this option because it lets them know your insurance premiums are being paid, and their investment is well protected. Most likely, you’ll need to pay for one year of insurance at closing. Bring information about the insurance policy you have chosen and the money to cover the first year’s premium. For all cash purchases you are not required to provide insurance for the closing but it’s a good idea to purchase home insurance for peace of mind.
Most likely, you’ll need to pay for one year of insurance at closing, as lenders prefer this option.
3) Look at Bundling and Saving
Consider buying your homeowners and auto coverage from the same company for as much as a 30% savings. Discounts are also available if you add more policies, like a motorcycle, watercraft, or personal umbrella. If you experience a significant loss, like a fire or storm, that is covered by your homeowner policy and have other policies that are affected, like an auto or motorcycle, the carrier may waive all deductibles after the home policy deductible is paid. Contact us and we can conduct a needs-based analysis to identify your possible exposures and ways you can maximize your insurance protection while reducing your out of pocket expenses.
To help you answer this question, we’ve put together a brief summary of your legal responsibility as an employer:
Employers have a legal responsibility to their employees to make the workplace safe. Unfortunately, accidents happen even when employers and employees take every safety measure. That’s what workers comp is for.
Protect and Provide
Workers comp protects employers from lawsuits resulting from workplace accidents. It also provides medical care and compensation for lost income to employees who have been hurt in a workplace accident.
Because of this, in almost every state, businesses are required to buy workers compensation insurance.
Covers workers injured on the job (whether they’re hurt on the workplace premises or elsewhere, or in auto accidents while on business).
Covers work-related illnesses.
Provides payments to injured workers, without regard to who was at fault in the accident, for time lost from work and for medical and rehabilitation services.*
Provides Death benefits to surviving spouses and dependents*
Don’t I already have workers comp insurance under a BOP?
Workers compensation insurance must be bought as a separate policy.
Although in-home business and business owners policies (BOPs) are sold as package policies, they don’t include coverage for workers’ injuries.
If you already have workers comp, click the button below to ensure you’re getting the lowest rate and best coverage
OR if you don’t have workers comp, click below to learn more about it and receive a free quote.
*Note: Each state has different laws governing the amount and duration of lost income benefits, the provision of medical and rehabilitation services and how the system is administered.
For example, most states regulate whether the worker or employer can choose which doctor treats the injuries and how disputes about benefits are resolved.
C.L.U.E., the Comprehensive Loss Underwriting Exchange, is a loss history information exchange provided by LexisNexis® Risk Solutions Inc. Insurance companies access and use prior loss information in the underwriting process through it. Think of it as “the cloud of claims.”
Where is the information from?
Each month, participating insurers submit loss information to the C.L.U.E. information exchange, which is loaded to the C.L.U.E. database. When you or your insurance company receive a C.L.U.E. report, it includes all losses accessed by the search criteria that were reported to us within seven years of the date of the request. Home warranty claims are not included on a C.L.U.E. report.
First, look for claims associated with the address your client is looking at. The report can sometimes show claims filed on another location owned or occupied by the seller. So if the owner has a palace in Pakistan and a town home in Carlsbad, check the address. The sandstorm is definitely unconnected to the Carlsbad address.
Beware of claims frequency rather than severity. Frequent claims indicate a potential ongoing problem your client could inherit. Water losses, mold, fires occurring in the home (not wildfire), and theft or burglary. These types of losses could indicate morale hazards or the home could be in a questionable area.
Need-to-Know
Buyers and sellers need to be aware of how changing guidelines can affect them when purchasing new insurance or when selling their home. Effective this year, many admitted insurance carriers will decline a risk if there has been a significant water loss (inside water damage, not weather-related) on the property within the last 3-5 years. This would include damage exceeding $2,500. Be aware that typically, losses follow the homeowner who filed the claim, impacting their cost of insurance or insurability when moving to a new location. However, some claims losses in the past cause new homeowners to inherit high insurance costs. Due to the rise in frequency and extensive costs resulting from water damage claims more and more companies are looking at water losses in new business and declining.
In these situations, your client’s insurance costs will go up, potentially making or breaking their willingness to move forward on the purchase.
The cost of the damage is important and can indicate the severity of the incident and the amount paid by the insurance company for the loss. Accidents happen. Just because a property has been impacted by a large claim or series of claims does not mean your client should avoid buying that house. Review the report together and request a disclosure from the sellers about how the claims were resolved. Were all repairs completed and was everything built back to code? Was the home replaced with like kind and quality?
Talk to your insurance agent about the loss(es) that were filed, how the insurance companies handled the claims and how this will impact insurance for the home moving forward.
Call us today as we have access to specialty markets and will find a solution to insurance issues like these.
A smoother real estate transaction is always possible when you partner with Alta Vista Insurance.
Normally, they refer their clients to a preferred mortgage adviser. They also have a preferred escrow company representative they use for all of their transactions. Same goes for the home warranty company and the title insurance representative. One thing missing from a lot of real estate advisers’ business plan, however, is an insurance adviser.
By incorporating an independent insurance adviser into their business plan, real estate agents can close more transactions throughout the year.
Also, they can ensure those transactions run smoothly and efficiently so their clients are able to close escrow on time and have a pleasant experience through the buying process.
Real estate agents sell more than property; they sell lifestyles.
By incorporating home warranty, escrow, mortgage, and insurance into an integrated business plan, real estate agents can offer their clients the concierge-level service they expect.
At Alta Vista Insurance Agency, we specialize in real estate transactions. We’re focused on the actual transaction and understand the deadlines and the challenges that need to be overcome to help the client close escrow successfully. Along with the mortgage company and the escrow company, we all work together as a cohesive unit behind the scenes for the real estate agent to make sure their clients go through escrow smoothly and efficiently, and that they’re satisfied with the level of service they receive.
