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There’s little question why homeowners choose to build in Southern California. “People want to live in beautiful places,” retired fire chief Glenn Corbett told The Independent. At the same ...
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.
Consumer Watchdog, a non-profit group that has previously sounded alarms about FAIR's solvency, warned last year that California homeowners could be on the hook for a $1,000 to $3,700 surcharge ...
The value of properties insured by the FAIR Plan totaled more than $458 billion as of September, up from $153 billion in 2020, according to the insurer's website.
A 2023 California Department of Insurance report states that “homeowners insurance companies [had] done far worse in California than nationally.” While direct underwriting profit was 3.6 ...
The state's insurance problems have plagued wildfire-adjacent homeowners for a few years, but it's rapidly spreading to homeowners in non-wildfire-adjacent areas. The state's "protections" are ...
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