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Renters insurance is getting harder to come by and more expensive in California as insurers pull back from the state's troubled homeowners market, which has been hard hit by wildfires.
Some companies, such as Liberty Mutual and Lemonade, advertise renters insurance policies that start as low as $5 per month. As with any insurance you buy, it is wise to shop around with at least ...
Between 2020 and 2022, insurance companies declined to renew 2.8 million homeowner policies in California, including 531,000 in Los Angeles County, according to data from the California Department ...
California Insurance Commissioner Ricardo Lara has approved regulations that next year will let insurers use complex computer programs that predict future risk in setting rates.
If the FAIR Plan does not have the money to pay out all claims, it collects money from insurance companies that operate in California. [5] According to data from 2020, the FAIR Plan covers 2.5% of the statewide market share, but 20.4% of the market share in ZIP codes at high risk from wildfires. [6]
Insurance Commissioner Ricardo Lara announced the update during a hearing Wednesday in front of state lawmakers. Changes to California home, auto insurance rate process expected to be unveiled ...
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