The Homeowner's Survival Guide: Disasters, Trusts, and Insurance
I grew up in Woodland Hills, a suburb of Los Angeles, not far from one of the entrances to Topanga Canyon where a winding canyon road, still connected to its bohemian roots, would lead you straight to the Pacific Coast Highway, with Malibu stretching to the north and the Pacific Palisades to the south. Topanga Canyon remains one of my favorite roads to drive, a serpentine artery I’m pretty sure I still know like the back of my hand. But if I’m being honest, it’s also etched with memories of fear. As a kid, I vividly recall my mom packing up the car, ready to evacuate, as one of the canyon fires crept dangerously close to our home.
Over time, I came to see the relentless cycle—rainy seasons, scorching heat, fires, rains, mudslides—and always braced for the next natural disaster, praying it wouldn’t be accompanied by an earthquake. Today, the fires in LA are far worse than anything I grew up with. Even a family member who lost their home in the Malibu Woolsey fire a few years ago recently told my mom that the current situation is beyond anything they’ve ever seen. It’s heartbreaking and brings me to something heavy on my mind: insurance.
If you’ve been paying attention the past few years, you’ve probably noticed that insurance has become a nightmare for homeowners across the country. Companies are pulling out of certain markets, jacking up premiums, or refusing new policies entirely. Yes, even in San Francisco! A couple of years ago, a prospective Noe Valley/Glen Park buyer was told that their dream turn-key home was uninsurable due to "high fire risk." Excuse me? In the middle of San Francisco?
Even Matt (my hubs for those who aren’t in the know) started a knob and tube replacement business because insurers decided it was no longer insurable!
So here’s the deal: If your home or any other property is held in the name of a trust but the trust isn’t listed on your insurance policy, you could be in for a rude awakening. Insurance companies may use this as grounds to deny a claim. When I first heard about this, I thought it had to be a mistake. While the jury is out on how insurance companies are going to be able to respond to all these new claims, my own insurance agent agreed that our trust should be named as an insured on our insurance policy.
And on that note, it’s just plain old crucial to check in with your insurance agent regularly. Have you updated your coverage to reflect current replacement costs? Does your policy cover everything you think it does? With construction costs and risks changing constantly, a quick yearly review could save you from major headaches down the line.
If this all feels overwhelming, you’re not alone. Navigating the world of homeownership and insurance can be tricky, but you don’t have to do it alone. No matter where you are in your buying or selling journey, I’m here to support you. You know how to find me if you need anything!
