Josh Terraneau - State Farm Insurance Agent Offers Hope to Insurees through ‘Loss of Use’

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Josh Terraneau - State farm Insurance agent, in light of a PropertyCasualty360.com article about how wildfires can damage homes without actually burning them, discusses “Loss of Use” coverage.

Josh Terraneau - State Farm Insurance Agent

Josh Terraneau - State Farm Insurance Agent

However, because banks that hold mortgages require homeowners to carry fire insurance, the people I most see who don’t carry insurance are renters, which is highly inadvisable.

Due to a spate of wildfires in 2015, many California residents faced being dropped from fire coverage, forcing residents of high-risk areas to shop for more expensive insurance as wildfires became more destructive because of the drought. However, according to a March 8, 2016, PropertyCasualty360.com article, wildfires themselves are not the only cause of damage, and the aftermath can be just as destructive, with landslides and flash floods occurring where fire has burnt away trees and plants that prevent erosion.

This is especially problematic for people in high-risk areas or areas already damaged by fire, as the law allows insurance companies to not renew policies. However, State Farm still covers people in high-risk wildfire areas and offers “Loss of Use” coverage, which kicks in once one’s house is uninhabitable, and covers any living expenses in order for the insured to maintain a normal standard of living.

“In Riverside County, where I operate, many areas have been deemed ‘high or very high wildfire risk,’ especially those areas near the San Bernardino National Forest,” said Josh Terraneau, of State Farm. “However, because banks that hold mortgages require homeowners to carry fire insurance, the people I most see who don’t carry insurance are renters, which is highly inadvisable.”

About Josh Terraneau - State Farm Insurance agent
Josh Terraneau offers auto, home and property, life and health insurance. For more information, please call (951) 784-4353, or visit http://www.sfriverside.com. The office is located at 5053 La Mart Drive, Suite 103, Riverside, CA 92507.

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