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The California FAIR Plan (California Fair Access to Insurance Requirements) is an fire insurance program created by the state of California that is used by property owners who cannot find private market insurance coverage.
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.
California does have an insurance program under the Fair Access to Insurance Requirements Plan, established in the 1960s, which provides fire insurance coverage for high-risk properties.
Between 2020 and 2022, insurance companies declined to renew 2.8 million homeowner policies in the state, according to the most recent data from the California Department of Insurance.
One alternative to the state’s fire and insurance crisis could lie with addressing the 15 million acres in California the United States Forest Service says requires forest thinning to become ...
Leading insurers such as State Farm, USAA and Allstate all have requests for rate increases pending with the state insurance department, and are requesting hikes of 28.1%, 30.6%, and 39.6% ...
Homeowners are watching their fire insurance premiums triple — or losing coverage as insurers retreat from the market. Many are forced to rely on the costly California FAIR Plan, the state’s ...
Peter Vanek, president of PVRK, a Southern California-based real estate consulting company, said his home was destroyed by a battery fire in 2023. His insurance initially estimated $350,000 for ...