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The California FAIR Plan is an insurance program backed by the state of California that is used by property owners who cannot find private market insurance coverage. [ 1 ] [ 2 ] [ 3 ] The plans are typically more expensive and provide less coverage than commercial plans.
Some 450,000 homes - about 3% of all state residents - were covered through the California Fair Access to Insurance Requirements plan in September, a 40% increase from a year earlier.
As a result, many homeowners were forced to obtain coverage from the state’s insurer of last resort, the California Fair Access to Insurance Requirements (CA FAIR) Plan, which covered 1,430 ...
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.
California homeowners in wildfire-prone areas either go without insurance or join the Fair Access to Insurance Requirements (FAIR) Plan, which the state created as a last resort for homeowners who ...
From 2012 to 2021, home insurers in California lost money on underwriting and insurance transactions, while nationwide average profit margins on those deals were 3.6% to 4.2%, respectively.
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