June 25, 2024 12% Americans Don’t Have Home Insurance: Why More Homeowners Don’t Think The Rising Prices Are Worth It Americans are increasingly dropping their homeowner insurance policies or falling behind on payments amid high living costs and rising coverage premiums. Read more.
June 24, 2024 As Insurance Soars, Homeowners Ask: Is It Worth It? In the face of inflated supply costs and extreme weather wreaking havoc, home insurance rates have shot through the roof, leaving many Americans begging the question: is owning a home worth it? Retired high school teacher Anjali Tierra is one homeowner who has been without…
June 20, 2024 Marin homeowners grapple with fire insurance cancellations Marin residents are among the many Californians who are getting their fire insurance canceled despite the county’s aggressive fire prevention measures. Not even Mark Brown, executive director of the Marin Wildfire Prevention Authority, is immune. “I received my non-renewal notice,” Brown said during a program…
June 18, 2024 Asbestos contribution fight sent back to lower California appellate court The California Supreme Court said Monday that a lower appellate court should determine if a primary insurer can seek contribution from first-level excess insurers for asbestos injury claims. The unanimous high court panel in Truck Insurance Exchange Co. v. Kaiser Cement and Gypsum Corp. reversed…
June 17, 2024 Excess Insurers May Need To Pay In Kaiser Asbestos Dispute A policyholder can tap into first-layer excess policies as soon as the primary coverage for that period is exhausted, the California Supreme Court ruled, potentially implicating several first-level excess insurers to contribute to coverage for underlying asbestos exposure claims against Kaiser Cement and Gypsum Corp.…
June 14, 2024 New proposal could help Californians in high-risk fire areas get their insurance back California’s wildfire risk has sent premiums skyrocketing and insurance companies fleeing the state. But this week, the state insurance commission released a new proposal to help homeowners, especially in higher fire risk areas. As part of the proposal, the state released new maps showing the…
June 12, 2024 Commissioner Lara unveils next steps in his strategy to expand coverage options for Californians in areas of high wildfire risk Commissioner Lara unveils next steps in his strategy to expand coverage options for Californians in areas of high wildfire risk First-ever wildfire risk map showing where insurance companies need to write more coverage LOS ANGELES — Insurance Commissioner Ricardo Lara today released further details of…
June 12, 2024 California Shows Where Insurers Would Need to Boost Coverage in Fire-Prone Areas California insurance regulators on Wednesday released maps of the state’s most wildfire-distressed areas, where they aim to require insurance companies to write more policies, the next phase of their plan to address the ongoing crisis in the state’s home insurance market. The new draft state…
June 11, 2024 Berkeley homeowners scramble after insurers end coverage citing fire risk The Department of Insurance has been working on regulatory reform but in the meantime many residents are facing scenarios where their only option is the California FAIR Plan, which they say costs too much and covers too little. Like many around the state, Berkeley homeowners…
June 11, 2024 Imagining a post-insurance world THE END OF THE WORLD AS WE KNOW IT: California’s leaders are determined to save a private property insurance market roiled by climate change. But others are — somewhat begrudgingly — starting to imagine a world without insurance (as we usually think of it) at…
June 11, 2024 State Farm Reverses California Policy Non-Renewals – With a Catch State Farm, the largest insurance carrier in California, has announced a significant reversal of its earlier decision to not renew over 70,000 policies in the state, including 30,000 home insurance policies. This change comes after the company initially cited increasing wildfire risks as the primary…
June 11, 2024 California home insurance: Should you submit a claim, or will it get you non-renewed? As insurance nonrenewals and rate hikes pile up in California, many homeowners are wondering: Will paying for repairs out of pocket rather than submitting a claim help avoid being nonrenewed and mitigate higher premiums in the long run? Experts say the answer may be yes,…
June 10, 2024 Capitol Briefs: Budget deadline is upon us! Budget trailers bills now in the wild: As reported by McGeorge law professor and registered lobbyist – and Capitol Weekly columnist – Chris Micheli, lawmakers over the weekend released the main budget bill (AB 107, in print) and two trailers bills not in print at…
June 7, 2024 State Farm zigzags on California home policy non-renewals State Farm has changed its policy on non-renewals, taking a page out of other carriers’ playbooks. The largest carrier in California announced in March it would not renew more than 70,000 policies in the state — 30,000 of them home insurance policies. Much of the…
June 6, 2024 Insurance companies use drones and satellite images to spot roof damage Some insurance companies use images to demand customers repair or replace roofs or lose coverage Using satellite or drone images to spot potential roof damage is a growing trend. Some companies use the images to demand customers either make repairs, replace their roof, or risk…
June 6, 2024 Will the new State Farm plan benefit California homeowners? State Farm customers, who initially believed they would be dropped by the insurance company, now have a new option for insurance in California. However, Megan Goldsby reported it still doesn’t help with fire insurance. Amy Bach, executive director of United Policyholders, said the new State…
June 4, 2024 The Gee Code: How Gen Z Homeowners Can Stay Ahead of High Tech Insurance Practices While you may have seen photography drones used to shoot aerial shots for your favorite content online, did you know that same technology is being used against homeowners? In today’s digital era, home insurance companies are increasingly leveraging technology to assess properties during policy renewals.…
June 3, 2024 Searching for solution to California’s insurance crisis before property values plunge | Call Kurtis Investigates As insurance companies drop more California homeowners over the state’s fire risk, some are predicting the next crisis is a drop in home values. Bill Kinyon said his insurance company decided not to renew his policy over the fire risk to his family’s modest 700-square-foot…
