Latest / Connor with Honor: AI, Real Estate and Real Life / Santa Clarita insurance issues post fires of 2025 in Castaic
Transcript
- 0:00it doesn't feel anything like February 1st good day everybody I wanted to talk to you about real estate but I guess more importantly I wanna talk to you about insurance because I don't sell insurance I sell houses but because of all the fires that have happened here in Southern California insurance is now becoming a problem just like it has been historically whenever we have a natural disaster of some sort everything seems to be put on hold that includes Escrows of properties so if something is in process when we do have these natural disasters or man made or whatever they are it does make the insurance companies wanna pull back to make sure that they're in the right place by offering insurance in California and we see that as being very same to the recent past now this is what I would suggest if you're a real estate buyer make sure you do that insurance investigation early and now find out from your agent if there have been any delays with escrows within the city you happen to be buying in if you're looking at Newhall for example versus Castaic versus Stevenson Ranch versus anywhere else in Southern California ask your agent that find out if insurance has been a problem and if so what the best course of action for you would be to be able to secure insurance now as a typical buyer rule most likely you approach the seller or your agent will approach the seller's agent so they can ask the seller who they use for insurance in a lot of cases we've seen that those carriers that have have that insurance policy on that residence are no longer gonna be supplying insurance in California so now it's up to the buyer to give brand new insurance and that therein lies the problem they can't just renew it with the people that already have the policy because those people are jetting out of California because apparently they're not making enough money here plus probably a lot of other reasons but I think it always comes down to money with everything so do your due diligence find out before you start writing offers on properties and start going out there and looking properties and thereby wasting your time whether insurance is available for you and what that's going to cost and yes they should be able to give you some kind of an idea maybe not a big insurance company but a broker might be a little bit more nimble to help you through that process because they're able to pull out insurance from a lot of different sources and a lot of different companies not just they themselves for you sellers out there check with your current policy holder find out if in fact they are still gonna offer insurance to the buyer of your residence when you do decide to put it on the market that is gonna add to your ability to get that house sold rather quickly because then you'll be able to come to the forefront and say through your age and if I'm listing your house absolutely Seller vetted with his insurance company next buyer that comes in will be able to get insurance I'm Connor with honor we'll see you in the next one