Living in the Sierra Foothills

Just a quick bit of info for you. I live in the South SF Bay. I renewed my homeowners and added some umbrella coverage. I haven't seen the paper work for it so logged in to look. The note said "We are still reviewing your fire insurance coverage". No idea what that means other than the insurance carrier is looking harder at coverage levels.

 

Thanks for mentioning this. We also learned about and added umbrella coverage with the change in Homeowners. If you have assets to protect it is relatively inexpensive to add this for the coverage provided. Thinking about the litigious environment we live in, it is not a stretch to imagine a lawsuit against you for something that may or may not be your fault or intention that can take all that you've worked hard for as well as future income.

 

I live in the foothills (renting currently but possibly buying soon). Fire insurance can be prohibitively expensive, so do your homework before you buy...sounds like you're on the right track.

 

Anyone know if insurance premiums are tax-deductible? I would guess not...

 

Ha ha ha ha ha ha ha ha! Choke, cough, ..., ha ha ha ha ha ha ha!

No.

 

I grew up in El Dorado Hills so i'm more familiar with the 50 side. If you are looking around Placerville you might go just a tad further to Shingle Springs... probably a little cheaper for the same thing.

 

I have been in the Placerville area since 1994. Real estate prices have more than doubled in El Dorado County in the last 5 - 6 years, mostly because all the SF bay area people sell their houses there for huge $$$, and can come up here and get a rural property for any price and pay in cash, and still have $$$$$$$$ left over, so that has driven housing costs through the roof. We are currently on a 1 acre parcel, with a mid-sized manufactured home (~1700 ft^2) that we paid $425K for in 2019. 10 years ago, it would have been around $150K. Fire insurance is indeed insane. Our property has almost no trees on it, and is almost perfectly flat and is only classed as "Moderate Fire Danger". My in-laws who live only 5 miles away, on 2 acres, but have a thick growth of old oak trees all over their property, their 30+ year insurance company dropped them last year due to their place being classed "High Fire Danger"... and they literally have a county fire hydrant at the end of their driveway. I have heard many friends in this area say they are forced to pay $4 - $5K a year for fire insurance these days, especially after the Camp Fire (Paradise, CA) and the massive Napa/Sonoma area fires in the last couple years.

 

$5k for fire insurance is crazy, I thought earthquake was high but it’s a quarter of that.

 

What's crazy is for what you pay, you don't really get a lot.

 

Fire insurance really just depends on what area you choose. Some of the Sacramento based insurance agents will tell you they can't do it. Make sure to work with an agent who writes policies up here. There is also a chance depending on how risky your area is, that your insurance company will drop you after the first year for this coverage, That will force you into the Fair Plan.

Still worth it! Live up here is pretty awesome! www.Sierrafoothillsliving.tv Been up here about two years now and I'm still blown away by how pretty it is.

 

Is this a California phenomenon? Thinking to eventually move out of state and rather not have the high insurance rate follow me but still want to find a rural wooded area

 

Some gorgeous stuff for sale up in Emigrant Gap area too.. A little farther North of course, but good value.