The global pandemic continues to affect nearly every part of our day-to-day lives. We are spending more time in our homes than ever. Which begs the question – how does the coronavirus affect North County San Diego homeowners? While we know how important it is to regularly clean and disinfect our living spaces, there are other considerations we need to address as homeowners. Specifically, how the pandemic can affect our homeowners insurance policies. Here’s what you need to know so that you can make the necessary adjustments.
Buying a North County home
People are still buying and selling North County homes every day. However, the process of closing on a home has changed. When you buy a home, you’ll need to get a home inspection as part of the closing process. The home inspection will let the insurance company know whether or not you have all the needed coverage and if your rates are correct. Usually, the insurance company sends an adjuster to the property to inspect the inside and the outside. However, many adjusters are not currently inspecting interiors in order to stay safe. This will not affect your ability to acquire homeowners insurance. But be aware that your insurance company may arrange to have an interior inspection at a later date.
Making a claim
How you file a homeowners insurance claim has changed as a result of the pandemic. In the past, the insurance company would send an adjuster to evaluate your claim in person. But because of social distancing guidelines, many adjusters are only making in-person visits for large claims. Most other claims are being filed online, and homeowners can submit virtual proof for their claims. Check with your insurance company about how they’d like you to file claims during the pandemic.
Covering business property
Most homeowners insurance policies cover business equipment for those who have a home-based business. But you should check with your insurance company to see what the limits of liability are. Most policies only insure up to about $2,500 worth of business equipment. If you’ve just begun working from home and you’ve moved business equipment into your home office, then you may want to increase your coverage.
Dealing with financial hardship
Unemployment continues to rise as a result of the pandemic. Are you one of the millions of Americans with reduced or no income as a result of the coronavirus? If so, contact your insurance company and let them know you are having difficulty making your payments because of the pandemic. Many companies will work with you to create a plan that helps you with your monthly payments. But don’t wait for the bills to pile up. Contact them as soon as you have a problem, and they may be more willing to work with you.
Owning an Airbnb
North County San Diego is a popular tourist destination. Can we blame anyone for wanting to visit a beautiful place with near-perfect year-round weather and tons of amenities? Unfortunately, the pandemic has severely limited travel while most people shelter in place. If you own an Airbnb or other type of short-term rental property, then your home may currently be vacant. If you have home-sharing protection as part of your homeowners insurance policy, then contact your insurance company to see about temporarily halting your coverage while your property is empty. This could be a great way to save money.
Contact the Clark & Gilman Team
It’s never been more important to work with a professional when you’re buying or selling a North County San Diego home. Contact the expert agents at the Cristine Clark & Jamie Gilman Team today at 760-758-1211 or [email protected]. We’re always available to answer all your questions and help you through every step of the real estate process.