California’s home insurance crisis, explained

Spectrum News

Home buying for the nation is about to get more interesting, as the National Association of Realtors agrees to a seismic settlement that will abolish the 6% commission.

In California, there is a home insurance crisis. The big three insurers — Farmers, Allstate and State Farm — all have paused any new home insurance polices.

Why? Because the state is just too expensive to cover.

Amy Bach, executive director of United Policyholders, a nonprofit dedicated to getting homeowners resources and information to get insured, joins “Your Morning” to discuss.

Watch the video.

The information presented in this publication is for general informational purposes and is not a substitute for legal advice. If you have a specific legal issue or problem, United Policyholders recommends that you consult with an attorney. Guidance on hiring professional help can be found in the “Find Help” section of United Policyholders does not sell insurance or certify, endorse or warrant any of the insurance products, vendors, or professionals identified on our website.

Date: May 24, 2024