Protect your Home, protect your belongings, and protect the assets for which you've worked so hard!
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Dwellings and other structures - For most of us, our home is the single, largest investment we will make. Homeowner's insurance provides coverage for damage to your home and other structures on your property such as a shed or detached garage.
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Personal Property - Homeowner's insurance also provides coverage for your household contents and personal belongings. You may think your couch, coffee table, sweaters, shoes, coats, TV, VCR and CD player aren't worth a lot but those items all add up.
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Personal Liability - Finally, in the event someone is injured on your property or you damage property that belongs to others, you could be held legally liable for the injury or damage. The homeowner's policy provides personal liability coverage to financially protect you should this ever occur.
Enjoy the benefits of Homeowner’s insurance even if you rent or own a condominium. If you rent or own a condominium, you still need coverage for your household contents and personal belongings and personal liability. There are specific policies designed for those who rent or own condominiums.
Farmers Homeowners Insurance
State Farm Homeowners Insurance
Allstate Homeowners Insurance
The amount of title insurance needed is based on the value of your home and the amount of your mortgage. Title insurance guarantees the lender and/or the owner against the possibility that there may be an unknown lien or discrepancies in ownership on the property being purchased. Lenders need to be covered for the full value of the mortgage; this policy is required and will vary from state to state. There is a one-time fee for the policy that is paid at closing. You can obtain a separate homeowner's insurance policy to cover the full value of your home. However, this additional policy is not required. It is customary for the seller to provide the buyer with a new title insurance policy in San Diego County, however, this can be negotiable.
Chicago Title Company
First American Title Company
Commonwealth Title
- When is Real Estate reappraised? - Under State law (Proposition 13), real property is reappraised only when a change-in-ownership occurs, or upon completion of new construction. Except for these two instances, property assessments cannot be increased by more than 2% annually, based on the California Consumer Price Index. The property tax rate is 1% plus any bonds, fees, or special charges.
When a sale or transfer occurs, the Assessor's Office receives a copy of the deed and determines if a reappraisal is required under State law. If it is required, an appraisal is made to determine the new market value of the property. The owner is then notified of the new assessment and has the right to appeal the value.
The transfer of property between husband and wife does not require a reappraisal for property tax purposes. This includes transfers resulting from divorce or death. In addition, a refinancing will not cause a reappraisal. There are other exclusions for senior citizens, the disabled, and those involving parent/child transfers. For more information, call the offices of Gregory Smith, San Diego County Assessor at (858) 505-6262 or go to their website by clicking here.
- What is a Supplemental Assessment? - State law requires the Assessor to reappraise property immediately upon change-in-ownership or completion of new construction. The Assessor's Office must issue a supplemental assessment which reflects the difference between the prior assessed value and the new assessment. This value is then prorated based on the number of months remaining in the fiscal year ending June 30. This supplement is in addition to the regular tax bill.
