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The California FAIR Plan is an insurance program of last resort for homeowners in high-risk areas of the Golden State who are unable to obtain fire coverage in the private insurance market.
[1] [2] [3] The FAIR Plan was established in August 1968 by a statutory amendment to the California Insurance Code (specifically, section 10091 et seq. [4] [5]), and is regulated by the office of the California Insurance Commissioner. The plans are typically more expensive and provide less coverage than commercial plans. [6] If the FAIR Plan ...
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 ...
The plan could help a homeowner fulfill insurance requirements imposed by mortgage companies, but it is mainly designed as a temporary safety net with basic coverage until policyholders find a ...
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 ...
Here's what's going on — and some steps homeowners can take now to lessen the blow. Read more:State Farm won’t renew 72,000 insurance policies in California, worsening the state's insurance crisis
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