“I saw that Farmer’s Insurance isn’t taking on new clients in CA. I’m afraid when I buy a home I might not be able to get homeowner insurance. Do I need an insurance contingency in my offer?”
***ANSWER:
No. There are still plenty of firms writing homeowner’s insurance. And if the unlikely scenario that insurance became hard to get, some smart insurance company would fill the void and offer insurance.
And if THAT didn’t happen, the state would expand its current “California FAIR Plan” where they offer insurance.
But, no pun intended, I don’t want to create smoke when there isn’t a fire. There will always be homeowner’s insurance available.
