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Although car insurance was not a legal requirement before July 2024, those who did purchase a policy still had to meet the old minimum coverage requirements of 30/60/20. Beginning Jan. 1, 2025 ...
[1] [2] [3] The FAIR Plan was established in 1968 by a statutory amendment to the California Insurance Code (specifically, section 10090 et seq. [4]), and is regulated by the office of the California Insurance Commissioner. The plans are typically more expensive and provide less coverage than commercial plans. [5]
That's because each state regulates insurance differently, requiring specific coverage minimums, types and limits — meaning you'll typically need a new car insurance policy that complies with ...
It is a supplemental form of insurance meant to fill in the coverage gaps left by a FAIR Plan policy. It includes coverage for a wider selection of perils, like theft, and can provide liability ...
[A]n insurer may, under [California] Insurance Code sections 331 and 359, rescind a fire insurance policy based on an insured's negligent or unintentional misrepresentation of a material fact in an insurance application, notwithstanding the willful misrepresentation clause included in the required standard form fire insurance policy (Insurance ...
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.
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 ...
"Prior acts" (or "nose") coverage transfers the retro-active date for an old policy to a new insurance carrier—eliminating the need to purchase tail coverage from the last carrier. Nose coverage is usually less expensive than purchasing tail coverage from the old carrier. Tail coverage costs 2–3 times the expiring premium.