Dangerous Hills of California and Why Insurance Costs are Killing Real Estate Deals #insurancecrisis

Hills in a lot of cases mean fire danger. Everyone remembers recent fires in the Santa Cruz Mountains that burned the headquarters of Big Basin. Fortunately that fire did not jump over the hill and the most densely populated parts of the Bay Area were not affected. Anyways, the home our client considered was in the high fire danger zone. And the only policy available was California FAIR Plan. It is a state-backed insurance of last resort when no private policies are available. The cost of the coverage was significantly higher than expected and the cost of the insurance policy became the decisive factor why our client decided not to put an offer on this home. And this is not a one-off story...

Michael Talis:
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Coldwell Banker Realty
CALDRE: 01883499