Search results
Results from the WOW.Com Content Network
According to data from 2020, the FAIR Plan covers 2.5% of the statewide market share, but 20.4% of the market share in ZIP codes at high risk from wildfires. [6] Between 2020 and 2024, the number of homes covered by FAIR Plan policies more than doubled, while the Plan's total exposure (including commercial properties) nearly tripled. [7]
As a result, as the risk of wildfires grows, homes deemed too dangerous by major insurers have been piling up on the FAIR Plan’s books. Between 2020 and 2024, the number of homes covered by the plan more than doubled, to almost half a million properties with a value that tripled to about half a trillion dollars." NY Times
In the Pacific Palisades, where State Farm recently canceled over 1,600 policies a few months ago, FAIR plan residential plans in the 90272 zip code grew 85% from 2023 to 2024.
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.
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. But as ...
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 ...
California portal; This article is within the scope of WikiProject California, a collaborative effort to improve the coverage of the U.S. state of California on Wikipedia. If you would like to participate, please visit the project page, where you can join the discussion and see a list of open tasks.
March 14, 2024 at 5:00 AM. ... 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 ...