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The answer lies with a 36-year-old piece of California state legislature, Proposition 103. ... Increased burden on California’s FAIR Plan. California’s home insurance market does need changes ...
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 ...
Pros. Cons. When the homeowners insurance bill is due, the money should already be set aside to cover it as long as you have kept up on payments. There is a larger upfront payment with closing ...
Currently, California homeowners in high-risk areas have few insurance options. Many have turned to the California FAIR plan, a private program established by the state and designed to be a fire ...
56% of homeowners indicated that their escrow payment increased in the last 12 months, up from 51% in 2021 and 49% in 2020. ... homeowners insurance premiums increased by 10.72% in the first ...
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.
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