Why it’s becoming harder and more expensive to get homeowners insurance
Why it’s becoming harder and more expensive to get homeowners insurance

Homeowners insurance is becoming more expensive and, in many places, more difficult to find. There’s no sign that the situation is going to get better any time soon. The culprits: climate change, rising costs to rebuild or make repairs and a sharp increase in the…
Homeowners in California and Florida are running out of options to protect their homes
Homeowners in California and Florida are running out of options to protect their homes

As big-name homeowners insurance companies pack up and leave, customers are forced to pay higher premiums for the few insurance options that remain. Droughts and wildfires. Floods and hurricanes. As the losses from these natural disasters skyrocket, a growing number of insurance companies are declining…
State Farm pause in home policies could involve more than wildfires
State Farm pause in home policies could involve more than wildfires

Reserves requirement may put financial pressure on insurer to slow growth There may be more to State Farm Insurance’s pullback from the California homeowners insurance market than wildfire risk. The Illinois-based company’s move may reflect other considerations, from applying political pressure to staying on the…
State Farm’s California freeze: Looming insurance apocalypse or political ploy?
State Farm’s California freeze: Looming insurance apocalypse or political ploy?

When State Farm announced in May that the company would stop writing new homeowners insurance policies in California, it issued a two-paragraph statement by way of explanation. It listed “historic increases in construction costs,” “rapidly growing catastrophe exposure, and a challenging reinsurance market” as the…
Four things California can do as home insurers retreat
Four things California can do as home insurers retreat

After State Farm declared in late May that it wouldn’t sell any new home insurance policies in California, people shopping around for new insurance had one fewer option. When days later it was revealed that Allstate had quietly made the same decision last year, Californians…
How to Get More Affordable Home Insurance as Costs Soar
How to Get More Affordable Home Insurance as Costs Soar

Weather-driven disasters are causing rates to skyrocket in high-risk regions. But there are things owners can do to save on costs. As the 2018 West Fire swept through Alpine, Calif., a small town in the foothills east of San Diego, firefighters were stationed in front…
Insurers Fleeing California Market Want Rate-Hike Flexibility
Insurers Fleeing California Market Want Rate-Hike Flexibility

California’s size makes it “hard for insurers to walk away” State has an unhealthy property insurance market, industry says As property insurers flee California, a state riven by billion-dollar wildfires, mudslides, and the ever-present threat of a catastrophic earthquake, state lawmakers on Wednesday will take…
COVID-19 insurance coverage lawsuit pending in Nevada Supreme Court could be a game-changer
COVID-19 insurance coverage lawsuit pending in Nevada Supreme Court could be a game-changer

Some Nevada business owners eagerly await a Nevada Supreme Court ruling about COVID-19 insurance coverage. The decision could set precedent on whether insurance companies need to reimburse businesses for pandemic-related losses. The owner of Las Vegas Strip open air mall Grand Bazaar Shops, JGB Retail,…
Marin homeowners rattled as insurers bail over fire risks
Marin homeowners rattled as insurers bail over fire risks

When Larkspur resident Anita Bock heard that her insurer, State Farm, stopped writing new policies in California, she immediately called her agent to ask if she would lose her coverage — again. “He said that at this point in time, there’s no indication that’s going…
Recovery for 2013 Black Forest fire survivors boosted by Waldo Canyon volunteers
Recovery for 2013 Black Forest fire survivors boosted by Waldo Canyon volunteers

Mentoring programs and kvetching groups created out of the ashes of the Black Forest fire formed bonds so strong that a decade later many relationships are still intact — much like chards of china that withstand a blaze because the ceramic itself had been born…
Home Insurers Curb New Policies in Risky Areas Nationally
Home Insurers Curb New Policies in Risky Areas Nationally

Pullback goes beyond California and Florida as insurers face climate risks and inflation Read the article here.
California Annuity Sales Rule Bill Faces Consumer Group Opposition
California Annuity Sales Rule Bill Faces Consumer Group Opposition

SB 263, California’s annuity sales standards update bill, sailed through the state Senate in May, with no opposing votes at the committee level or on the state Senate floor. But the ultimate fate of the bill is still uncertain because of ongoing strong opposition from…
Climate disasters make it harder to insure your home. Here’s what to know.
Climate disasters make it harder to insure your home. Here’s what to know.

Premiums are soaring and carriers are pulling back coverage, citing disaster risks. Climate change is a big factor, but there are others at play. Homeowners are bracing for hurricane and fire seasons, but with insurance premiums rising and carriers pulling back coverage in riskier states,…
Allstate becomes the second home insurer to pull out of California
Allstate becomes the second home insurer to pull out of California

State Farm announced a similar decision last week The question must now be asked. Will California homeowners be able to buy insurance coverage for their homes? Allstate has become the second major insurance company to announce it will stop writing homeowners insurance policies in the…
Nevada’s highest court hears insurance dispute from COVID-19 lockdowns
Nevada’s highest court hears insurance dispute from COVID-19 lockdowns

The Nevada Supreme Court heard oral arguments Monday from an insurance company claiming it should not have to provide coverage to a Strip open-air mall that lost business due to the COVID-19 lockdowns in 2020. JGB Vegas Retail Lessee, which owns the Grand Bazaar Shops…
Consumer advocates say home insurance is still available in California without State Farm
Consumer advocates say home insurance is still available in California without State Farm

They are assuring property owners that other insurers will be able to help them find coverage. State Farm recently announced that it would no longer be accepting new home insurance and business insurance applications in California, due to the increasing frequency of wildfires and the…
Housing Market 2023: Allstate and State Farm Halt Homeowners Insurance In California — Smart Ways Californians Can Still Get Coverage
Housing Market 2023: Allstate and State Farm Halt Homeowners Insurance In California — Smart Ways Californians Can Still Get Coverage

ust as wildfire season begins, State Farm General Insurance Company, State Farm’s provider of homeowners insurance in California, announced it would not accept any new applications for home insurance policy as of May 27 “due to historic increases in construction costs outpacing inflation, rapidly growing…
State Farm, Allstate not accepting new homeowner policies over California wildfire risk
State Farm, Allstate not accepting new homeowner policies over California wildfire risk

Insurance companies like State Farm and now Allstate are not accepting new homeowner policies due to California’s wildfire risk. There will be no change to existing policy holders, but it will be tough for people looking for new coverage. An industry expert said the changes…