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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.)
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 ...
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.
SACRAMENTO, Calif. (AP) — California’s plan that provides insurance to homeowners who can’t get private coverage needs $1 billion more to pay out claims related to the Los Angeles wildfires ...
Bankrate’s premium data from Quadrant Information Services indicates that the annual average cost of home insurance in California is $1,217 for $250,000 in dwelling coverage, which is about 28 ...
Californians without any insurers in the area can still purchase the property insurance from FAIR, the state’s insurer-of-last-resort, but high rates and limited property value coverage mean it ...
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