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A cancellation or nonrenewal can also occur if you have a condo or renters insurance policy. We explain the three most common types of home insurance cancellations and how to resolve them.
The state of California announced a one-year moratorium on the cancellation or non-renewal of homeowners insurance policies in zip codes affected by the Los Angeles-area wildfires.
The policy term is the period that an insurance policy provides coverage. Many policies have a one-year term (365 days) but other terms both longer and shorter are used. Policy terms can be for any length of time and can be for a short period when the period of risk is also short or can be for multi-year periods.
Linda Klamm, who works as an attorney for insurance policyholders after catastrophes, lost her home to a firestorm in Oakland, California, in 1991, and has firsthand experience with the challenges ...
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.
A month later, Nationwide, which writes about 7.3% of the state’s insurance policies, disclosed that it would drop 10,525 homeowners’ policies in Eastern North Carolina. It’s unclear if the ...
[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]
Between 2020 and 2022, insurers canceled 2.8 million home coverage policies in the state.