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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.
In February, the California FAIR Plan wrote more than 15,000 new policies, its president Victoria Roach told lawmakers Wednesday. That was the most ever. And is on top of another 12,000 the state ...
A plan announced in September 2023 included pushing insurance providers to take on more customers in high-risk areas in exchange for using catastrophe models to set premiums.
The package also aims to move homeowners back onto the roles of commercial insurers and off the FAIR Plan, while improving the finances and coverage of the state's insurer of last resort.
The FAIR plan has about 375,000 policyholders, and the insurer’s total risk exposure was $311 billion as of December 2023; it was $50 billion in 2018. Read more: He claims to have saved ...
The California FAIR Plan has seen a rapid rise in policyholders in recent years. Skip to main content. 24/7 Help. For premium support please call: 800-290-4726 more ways to reach ...
Homeowners have seen a rapid decrease in coverage options and a growing number are having to rely on the California FAIR Plan, a state-created private insurer of last resort.
Coverage under the FAIR plan is pretty limited; generally, only dwelling and personal property coverage are provided on a named-peril basis. For flood insurance, homeowners can look to the ...