![]() ![]() Sara Gobets/Special to The Chronicleįarmers Insurance often requires Santa Cruz mountain home buyers to purchase the state-offered FAIR Plan for fire insurance, Huxley said. Locales prone to wild fire now have fewer options for home insurance, with carriers pulling out of California. The CZU Lightning Complex fires claim a carport and trailer in the Boulder Creek area of the Santa Cruz Mountains in August 2020. ![]() In the Santa Cruz mountains, however, realtors are more nervous about the potential impacts, especially given the continued risk of wildfire.īy and large, State Farm and Farmers Insurance have been the only two brand-name insurance companies that are still offering policies for mountain homes - with only the former offering conventional plans that cover fire insurance, said Tim Huxley, a real estate agent with Room Real Estate, which is based in Santa Cruz County. In Santa Rosa, where the Tubbs Fire caused devastation in 2017, it hasn’t been too hard to find an insurer willing to cover most homes, though new homeowners now may have to do more searching and be willing to pay higher premiums without State Farm and Allstate as an option, Francavilla said. Homeowners insurance isn’t required by law in California, but most mortgages require it as a condition of the loan. “But we’re still seeing multiple offers and above-asking prices.” “We thought with the increase in interest rates, momentum would slow down,” said Logan Francavilla, a real estate agent with the Santa Rosa-based Prosper Real Estate Team. But the potential impact on home prices is difficult to determine, particularly in fire prone areas, according to real estate agents in the Santa Cruz mountains and Santa Rosa region, who noted that inventory remains low while demand has stayed high. ![]()
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