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Farmers Insurance is upping the number of home policies it writes each month and resuming coverage for condos, renters and other dwellings, saying the California insurance market has improved.
The problem is most acute in disaster-prone parts of Florida and Texas, where insurance premiums and HOA fees have been rising particularly fast. In Houston, the median condo sales price fell 6.5% ...
A State Farm insurance company sign sits amid the rubble of a building destroyed by the Palisades Fire on Sunset Boulevard in the Pacific Palisades neighborhood of Los Angeles on January 16, 2025.
Auto insurance was up 19%, while property insurance shopping rose 16%, compared to the same time in 2023. Auto insurance shopping increased across generations, though, not equally. Baby Boomers shopped the most by far, at 34%. Younger generations followed, with Gen Z (23%), Gen X (18%) and Millennials (8%) also looking for lower rates.
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 ...
An 18th-century fire insurance contract. Property insurance can be traced to the Great Fire of London, which in 1666 devoured more than 13,000 houses.The devastating effects of the fire converted the development of insurance "from a matter of convenience into one of urgency, a change of opinion reflected in Sir Christopher Wren's inclusion of a site for 'the Insurance Office' in his new plan ...
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