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And for homeowners with mortgages, which require insurance coverage, going without is not an option. (Only 18 percent of California residents own their homes outright.)
The massive fires that have destroyed much of Pacific Palisades and demolished more than 2,000 homes in Los Angeles County threaten an effort to fix California's troubled home insurance market.
On Tuesday, Mercury Insurance, an independent home insurer in California, announced it would begin writing new homeowners insurance policies in the town of Paradise, the site of the deadly Camp ...
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 problem of canceled policies has forced some homeowners to go without fire insurance or to use a program set up by the state — but without taxpayer support — called the California FAIR plan.
Compared to home values, the average statewide premium in 2023 was the lowest among all 50 states, according to the Reuters analysis. California’s high property values may make that insurance ...
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