What is a combo policy and can it save me money?

A combo policy is when you have multiple insurance types through one carrier.For example, if you have a homeowners and auto insurance policies both written with MetLife. Most carriers offer a favorable discount if you carry multiple policies with them

California’s minimum auto insurance coverage is 15/30/5, what does that mean?

These are minimum limits and at OP Insurance we will work with you to determine what the best coverage is for your auto policy. The “15” is the minimum liability insurance and covers you up to $15,000 for any injury or death you are liable for to one person. The “30” is the minimum liability insurance and covers you up to $30,000 for any injury or death you are liable for to more than one person in one accident. The “5” is the minimum damage to property covered up to $5,000. Your insurance company will pay up to these limits if you are found liable in an accident. These coverages only apply to injuries that you cause to someone else.

Should I get higher limits than the law requires?

In most cases we recommend higher than what the state requires, as these limits are outdated and typically won’t cover you properly. The more assets you have, the more you could potentially lose in a lawsuit. Should you own a home, you would definitely want to consider opting for higher coverage than the state minimum.

On average, how much coverage should my home have?

Typically, in California, we like to cover you at a minimum of $200 per square foot. If you live in a 2,000 square foot home, we would assure your Replacement Cost is at least $400,000. We will also take into account your home’s location, construction costs, upgrades, etc. to get the most accurate replacement value for your home.

What is a peril?

A peril is a cause of loss, such as fire or theft.

Additional questions?

Contact us today and we’d be happy to answer all of your questions.