Other Free Encyclopedias » Online Encyclopedia » Encyclopedia - Featured Articles » Featured Articles: Melissa And Doug Puzzle - What Are Melissa and Doug Puzzles? to Panasonic Mini Dv Camcorders - Panasonic Mini DV Camcorder Great Choice for Pro or Amateur

Home Insurance Oakland - Oakland Home Insurance Not Enough

homeowners damage covered coverage

Owning a home in Oakland is a luxury that can be easy to lose if you do not properly protect yourself and your investment. No homeowner should go even a single day without homeowners insurance because the events that can cause you to lose your home are numerous and can strike at any given time.

The average home value in Oakland is currently just under $300,000, and the average household income is only $47,245. If you lose your home due to a lack of insurance, it will be impossible to replace. It could take up to 10 years or more to get back on your feet. The standard Oakland home insurance premiums are $739 per year. You will most likely, however, need more than a standard policy.

Many people think of homeowners insurance as protection against sudden, catastrophic disasters, but homeowners insurance may or may not provide this coverage. Here is a list of damages covered by most Oakland Home insurance policies, starting with those that receive the most claims in the city:

  • Theft/Burglary
  • Physical damage – aircraft, ground vehicles, falling objects
  • Vandalism
  • Hot water system, air conditioning damage, and other internally-sourced water damage
  • Fire and smoke
  • Weather – wind, lightning, hail, ice, snow, sleet only.
  • Electric damage
  • Explosions
  • Riots
  • Volcanoes

At first glance, this seems like very comprehensive coverage. Even volcano damage is taken care of. The problem, however, is that there aren’t any known volcanoes in Oakland. When you tear apart the insurance, you will discover that many real and possible events are not covered and require the purchase of additional insurance. Here are some risks to your home that are not covered:

  • Mold damage
  • Acts of war/terrorism
  • Earthquakes
  • Floods
  • Intentional damage
  • Luxury items
  • Aggressive dogs

All of these items require an additional policy that may or may not be supplied by your homeowners insurance company. Of these, Earthquake insurance is the most important in Oakland. Depending on the exact location and type of home you have, flood insurance may be a good idea, also. If you have any luxury items, such as paintings or collections of any sort, you should consider getting separate coverage for them, or you will find that your Oakland homeowners insurance is only paying you a fraction of their actual value.

In addition to these policies, you may also need to consider the following:

  • Condo insurance – Insurance policies differ between single-family homes and condo units. Homeowners insurance in a condo may not protect you from damages in common area or damages to upgrades, additions, or remodeling work.
  • Water backup – If water backs up from the sewer and through your drains, you may not be covered by a standard policy.
  • Umbrella liability insurance – In today’s society, the liability coverage of standard homeowners insurance doesn’t always afford you full protection. Umbrella liability insurance can cover you in case of high-dollar accidents that occur in your home or in your vehicle. These policies are becoming more popular because they offer peace of mind at an affordable price.
Oakland Ca Hotel - The Best oakland ca hotel: The Claremont Hotel Club and Spa [next] [back] Oak Kitchen Furniture - How to choose oak for the kitchen furniture of your dreams

User Comments

Your email address will be altered so spam harvesting bots can't read it easily.
Hide my email completely instead?

Cancel or