New insurance rules mean homeowners throughout California are likely to pay more after fires
A recent rule change could cause a spike in insurance premium for homeowners across California, as the costs of the Los Angeles area wildfires are passed onto them in a way that was not allowed in the past.
California’s home insurance prices set to soar
Note that policy costs in these high-risk states, minus California, averaged $5,040 – roughly 150% more than Golden State prices. And the 48-state average policy of $3,200 is 50% above California’s cost. Insurance companies are not saints, but you want them to be profitable.
California’s Insurance System Faces Crucial Test as Losses Mount
The California FAIR Plan, the state’s insurer of last resort, had just $377 million available last week to pay claims that could reach billions, officials said.
California Homeowners Unaffected by Wildfires Could Get New Insurance Bill
Changes in California's Fair Access to Insurance Requirements (FAIR) plan could mean higher expenses for homeowners after fires.
California homeowners face insurance crisis after fire losses
In the months leading up to the recent fires, 1,600 homeowners in California had their fire insurance policies dropped by private insurers due to high fire dang
Fire insurance challenges affect homebuyers across California
The Palisades and Eaton wildfires have decimated entire suburban neighborhoods — and extinguished any hopes of fire-insurance relief for urban centers across California.
Governor Newsom is banning insurance companies from canceling home coverage for LA wildfire victims — says folks ‘have suffered enough.’ Here’s why insurers left i…
Several insurance companies have stopped offering policies in California or are refusing to renew existing ones in an effort ...
San Diego Union-Tribune on MSN9d
Will California insurance reforms be enough to stop insurers from leaving?
A major concern out of the destruction is not just the people without insurance, but the fear other homeowners will lose ...
I'm an economist. Here's why I'm worried the California insurance crisis could trigger broader financial instability
The devastating wildfires in Los Angeles have made one threat very clear: Climate change is undermining the insurance systems ...
Affected by the Wildfires in Southern California? You Might be Safe From Home Insurance Cancellations Through 2026
Key Takeaways A recent moratorium now protects California policyholders from losing home insurance coverage for at least one ...
California insurance crisis: List of carriers that have fled or reduced coverage in the state
The wildfires ravaging Southern California are expected to add further fuel to the state's ongoing insurance crisis, as ...
California senator questioned in FBI investigation is tapped again to lead Insurance Committee
Susan Rubio, a Democrat from Baldwin Park, will refill the vacancy that Senate leaders briefly left open for a few weeks ...
California Adds More ZIP Codes to Insurance-Cancellation Ban
California sought to protect more Los Angeles-area homeowners from potentially losing their home-insurance policies as ...
Southern California wildfires highlight home insurance industry
The wildfires in Southern California have put a spotlight on the home insurance industry. Companies are being confronted with ...
The Cool Down on MSN3d
California issues new mandate that will have a major impact on homeowners' insurance: 'This is a historic moment'
"Californians deserve a reliable insurance market that doesn't retreat from communities most vulnerable to wildfires and ...