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Peter Vanek, president of PVRK, a Southern California-based real estate consulting company, said his home was destroyed by a battery fire in 2023. His insurance initially estimated $350,000 for ...
In the months before thousands of Los Angeles homes went up in flames, property insurance companies dropped coverage in many neighborhoods of the city, citing the growing wildfire risks caused by ...
Zip codes covered by the moratorium for the Palisades Fire include 90049, 90265, 90272, 90290, 90402, 91301, 91302, 91320, 91356, 91361, 91364 and 91436.
At the end of 2024, the state's insurance commissioner enacted a measure aimed at expanding coverage in wildfire-afflicted areas after many companies scaled back following other devastating blazes.
A recent rule change could cause a spike in insurance premium for homeowners across California, as the costs of the Los Angeles area wildfires are passed onto them in a way that was not allowed in ...
Wildfires in California leave many without insurance. Governor Newsom’s moratorium offers temporary relief. ... One dozen eggs in America now costs $3.65 — and $12.63 for a pound of sirloin ...
Proposition 103, titled Insurance Rate Reduction and Reform Act, was a California ballot proposition voted on in the 1988 California General Election. It passed with 51% of the vote on November 8, 1988. [1] Proposition 103 expanded the regulatory capacities of the California Department of Insurance, especially in property and casualty insurance.
Compared to home values, the average statewide premium in 2023 was the lowest among all 50 states, according to the Reuters analysis. California’s high property values may make that insurance ...