California Fair Plan Calculator

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California Fair Plan Calculator

Inputs

Estimated Premium

Please enter the coverage amounts and rates to see your estimated premium.

Understanding the California Fair Plan and Your Premium

The California FAIR Plan (Dwelling Fire Insurance Policy) is designed to provide basic property insurance coverage for homes that may be in high-risk areas and are unable to obtain coverage through the traditional insurance market. This often includes properties in areas prone to wildfires, earthquakes, or other natural disasters.

What is Covered?

The FAIR Plan policy typically covers:

  • Dwelling Coverage: The physical structure of your home.
  • Other Structures Coverage: Outbuildings such as garages, sheds, or fences.
  • Loss of Use Coverage: Additional living expenses if your home becomes uninhabitable due to a covered peril.
  • Personal Property Coverage: Your belongings within the home.
  • Medical Payments Coverage: Minor medical expenses for others injured on your property, regardless of fault.

Optional coverage, such as for earthquakes, may be available and would be an additional cost.

How is the Premium Calculated?

The premium for a California FAIR Plan policy is calculated based on several factors, primarily the coverage amounts you choose and the specific rates applied. Our calculator estimates this premium using the following logic:

Base Premium Calculation:

The primary component of your premium is based on the dwelling coverage and other selected coverages, multiplied by the FAIR Plan base rate.

Formula:

Base Premium = (Dwelling Coverage + Other Structures Coverage + Personal Property Coverage + Loss of Use Coverage) * (FAIR Plan Base Rate / 100)

Windstorm and Hail Premium:

An additional charge is often included for windstorm and hail coverage.

Formula:

Windstorm Hail Premium = (Dwelling Coverage + Other Structures Coverage) * (Windstorm & Hail Rate / 100)

Optional Earthquake Premium:

If earthquake coverage is selected, it is calculated separately. The rate is typically applied per $1,000 of coverage.

Formula:

Earthquake Premium = (Earthquake Coverage / 1000) * Earthquake Rate

Total Estimated Premium:

The total estimated premium is the sum of all applicable premium components.

Formula:

Total Estimated Premium = Base Premium + Windstorm Hail Premium + Earthquake Premium (if applicable)

Factors Influencing Your Actual Premium:

It's important to note that this calculator provides an *estimate*. Your actual FAIR Plan premium may vary based on:

  • Your property's specific location and associated risks.
  • The age and condition of your home.
  • Deductible choices.
  • Any specific endorsements or additional coverages added.
  • Changes in FAIR Plan rates or regulations.

For an accurate quote, please consult with a licensed insurance agent familiar with the California FAIR Plan.

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var earthquakeCoverage = parseFloat(document.getElementById('earthquakeCoverage').value); var earthquakeRate = parseFloat(document.getElementById('earthquakeRate').value); var resultDiv = document.getElementById('result'); resultDiv.innerHTML = "; // Clear previous results var totalPremium = 0; // Input validation if (isNaN(dwellingCoverage) || dwellingCoverage <= 0 || isNaN(otherStructuresCoverage) || otherStructuresCoverage < 0 || isNaN(lossOfUseCoverage) || lossOfUseCoverage < 0 || isNaN(personalPropertyCoverage) || personalPropertyCoverage < 0 || isNaN(medicalPaymentsCoverage) || medicalPaymentsCoverage < 0 || isNaN(fairPlanRate) || fairPlanRate <= 0 || isNaN(windstormHailRate) || windstormHailRate 0 && !isNaN(earthquakeRate) && earthquakeRate >= 0) { earthquakePremium = (earthquakeCoverage / 1000) * earthquakeRate; totalPremium += earthquakePremium; } else if (!isNaN(earthquakeCoverage) && earthquakeCoverage > 0 && (isNaN(earthquakeRate) || earthquakeRate < 0)) { resultDiv.innerHTML = 'If Earthquake Coverage is entered, a valid non-negative Earthquake Rate is also required.'; return; } // Display result resultDiv.innerHTML = 'Your Estimated California FAIR Plan Premium:$' + totalPremium.toFixed(2).replace(/(\d)(?=(\d{3})+(?!\d))/g, '$1,') + ''; }

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