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Read more:California has sweeping new rules for home insurance. What to know. Southern California this year experienced several large wildfires, including the 4,000-acre Franklin fire that ...
The insurance industry argued the change was imperative given global warming's role in a number of wildfires, including in 2017 and 2018 when thousands of homes burned down.
The 2018 fire in Paradise, California, killed 85 people and destroyed about 11,000 homes, and some residents have struggled to find home insurance since. Steve Crowder, the town's mayor, lost his ...
In 2019, insurers declined to renew 235,000 home insurance policies in California statewide in a 31% increase in the statewide non-renewal rate from the previous year, with non-renewal rates in ZIP Codes with moderate to high wildfire risk increasing by 61% and in the top 10 counties for wildfire risk by 203%. [190]
Farmers Insurance is upping the number of home policies it writes each month and resuming coverage for condos, renters and other dwellings, saying the California insurance market has improved.
In 2023, Farmers announced a moratorium on new policies in the Sunshine State, the 15th insurer to do so over an 18-month period, and State Farm, California’s biggest homeowners insurer, did the ...
Homeowners in areas at high risk of wildfires could have an easier time finding insurance coverage in the future under an eagerly-awaited proposal released Wednesday by the Department of Insurance
Farmers, the second-largest provider of homeowners insurance in the state, said it placed the cap on the number of policies in California effective July 3. The company cited high costs and ...