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As a result, homeowners in Pacific Palisades had increasingly shifted to the FAIR Plan, with roughly 1,400 of the town's 9,000 homes covered by the plan in 2024, more than quadruple the number in ...
California Insurance Commissioner Ricardo Lara has barred insurance companies from dropping fire victims’ policies for one year. “Losing your insurance should be the last thing on someone’s ...
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
FAIR Plans. State-backed insurance plans, known as FAIR Plans or Citizens Plans, were set up starting in the 1960s to provide coverage for homeowners who couldn’t find policies on the private ...
Fire insurance has become more costly—if it's available at all—in California, leading more Golden State homeowners to turn to the FAIR Plan, a government-backed insurer of last resort.
Read more:California's home insurance crisis: What went wrong, how it can be fixed and what owners can do The FAIR Plan was created by the state in the 1960s after the Watts riots and some natural ...
The insurer’s expansion is the latest wrinkle in California’s ongoing insurance crisis, and it mirrors a similar trend across the country of major companies dropping customers in areas prone ...
But as insurance rates skyrocket and more insurance companies pull out of states like California, a growing number of homeowners who own their home outright are dropping their coverage.
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