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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.
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.
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 ...
From 2012 to 2021, home insurers in California lost money on underwriting and insurance transactions, while nationwide average profit margins on those deals were 3.6% to 4.2%, respectively.
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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