California is situated in the western part of United States. It is the 3rd Largest state and is the most populous state in USA. One of the richest state in the US, California also observes a highly flourishing insurance industry. In California insurance is available in various forms.
California Insurance Department ensures the insurance related matters like Automobile Insurance Rates, about health care and various policies given by the Insurance companies. You can be safe and sound while you and your family is insured be it the Health Insurance, Dental Insurance, Car Insurance or any personal insurance.
California Life Insurance
Life Insurance is a flourishing industry in the US and in the state of California also, there are available a large number life insurance policies for the residents of California.
In California, there are two types of life insurance policies available, such as:
Term life insurance is the simplest form of life insurance in California and it offers financial protection for a predetermined length of time, as specified in the policy. However term life policies are temporary, are relatively inexpensive. This kind of insurance is ideal for young families raising children as well as to protect people with limited income.
Whole Life or Permanent life insurance provides long-term financial protection, and includes both death benefit and, as well as cash savings. These policies are more expensive, and the premium is partially invested by the company to earn cash value. Permanent insurance is suitable for those who are attempting to meet long-range financial goals.
Necessary Tips for Buying California Life Insurance:
The following tips can prove handy when one goes to buy a life insurance policy in California, such as:
To use InsureMe to assess multiple insurance quotes.
To take good care of one’s own health, i.e., maintaining a healthy weight, exercise and non smoking, as insurers may not cover pre-existing conditions.
Not to sign something in case one has questions or concerns all questions are to be directed to the agent before signing a policy.
To verify all agent and company licensing credentials before signing. (One can do so by contacting the California Department of Insurance at 800-927-HELP or by visiting them on the Web).
California Home Insurance
In the US, home insurance is highly popular and particularly, California home insurance is gained all the more importance since California is highly prone to natural disasters which cause immense damage to properties and assets.
However, although California home insurance is important, one should keep in mind various factors, particularly the cost of home insurance.
Before buying a new home, one would want to weigh many factors before you purchase-including the cost of California homeowner’s insurance, since insurance costs in California are higher owing to rising instances of earthquake, wildfire or high tides.
One should always do, when buying a new home in California, the following:
Check out the history of the home, the neighborhood and surrounding area
Request a Claims Loss Underwriting Exchange (CLUE) report to back up any information the insurance agent may have given one regarding the history of the house.
California Earthquake Coverage:
Since earthquake is a major threat to the Californians, Californian law requires that earthquake insurance should be available to all those residents who are eligible for California homeowner’s insurance. However, although most private insurance companies integrate earthquake coverage into one’s home insurance policy, one would also need to buy separate earthquake insurance through a company underwritten by the California Earthquake Authority (CEA).
California Auto Insurance
Auto Insurance is an ever-increasing segment in insurance industry and owing to the rising cases of accidents and thefts, insurance of automobiles is a must for all vehicle-owners. In the US, California auto insurance also provides for such insurance.
California Auto insurance Coverage:
Under the laws of California, there are two coverages which are required by the State of California, such as:
1. Bodily injury provides funds for medical expenses, lost wages and pain and suffering if the vehicle-owner is responsible for injuring someone in an auto accident. The minimum coverage under California law stands at $15,000 for bodily injury per person, and $30,000 for bodily injury per accident.
2. Property damage liability provides funds to pay for damages to another car if the owner of the vehicle is found liable for an accident. The minimum liability limit for such property damage is $5,000.
One should however keep in mind that these limits are the maximum amount of money one’s insurer will pay out if he/she is responsible for an accident, and may not be adequate to cover damages for which he/she is responsible.
California Car Insurance
The increasing number of cars on roads and with that the increasing incidents of accidents and theft have made the California car insurance industry much popular in modern times.
In the USA also, car insurance is an ever-strengthening industry and in the prosperous state of California also, car insurance is a popular industry. California car insurance provides two types of coverage.
California Car Insurance Mandatory Coverage:
In California, motorists are required to adopt car insurance and as per the Californian law, one needs to cover both bodily as well as property damage liability coverage.
Under the state law, the minimum liability amounts are $15,000 for bodily injury liability per person, $30,000 for bodily injury liability per accident and $5,000 for property damage liability per accident.
California Car Insurance Optional Coverage:
The common coverages people select under the California car insurance policy are collision and comprehensive coverage.
While collision coverage pays for damage to the vehicle resulting from an accident; the comprehensive coverage pays for damage to the vehicle from non-accident related happenings such as fire, flood and vandalism.
However, one should keep in mind that although these coverages are considered optional, the insured’s lender may require collision and comprehensive coverage in case the insured has financed the purchase of your car.
California Dental Insurance
Dental Insurance has been a popular kind of health insurance in modern times, particularly as health/dental care costs are ever-rising. In the USA, California dental insurance has equally gained in importance.
Types of California Dental Insurance:
1. Individual and family Dental Plans
2. Group Dental Plans
Health Insurance Companies like Celtic, Golden Rule, Health Net, Humana, Nationwide, PacifiCare, Unicare, and United Health Care are some of the well known Insurance companies which provide health support to make your life secured and tension-free.
Major Insurance Companies in California are :
Allstate Insurance Company
American National insurance Company
Advocate Insurance Services Inc
Last Updated on : 28th August 2013