As wildfire risks intensify, California insurance rates keep rising
As wildfire risks intensify, California insurance rates keep rising

Allstate will increase rates by an average of 34.1 percent as part of the state’s deal with the industry to expand coverage to homeowners in risky areas. California insurance officials have approved Allstate’s request to raise insurance rates for homeowners by an average of about…
Liberty Mutual Pulls Fire Insurance From 17,000 Customers in California
Liberty Mutual Pulls Fire Insurance From 17,000 Customers in California

In a significant and alarming development, Liberty Mutual Fire Insurance has announced that it will not renew fire insurance policies for approximately 17,000 customers in California. This move adds to a growing trend of insurance companies scaling back or altogether abandoning the state’s market, leaving…
Allstate gets OK to raise California home insurance rates by average of 34%
Allstate gets OK to raise California home insurance rates by average of 34%

Home insurance is about to get a whole lot more expensive for a lot of people in California. California’s Department of Insurance recently approved Allstate’s request for the largest rate increase the state has seen in the past three years. Homeowners’ insurance will go up…
California weighs sweeping reforms in insurance regulations, amid mounting wildfire risk
California weighs sweeping reforms in insurance regulations, amid mounting wildfire risk

The raging wildfires that have become a mainstay in certain California communities are not only devastating family dwellings — they are also impeding Californians from procuring the insurance necessary to protect these homes in the future. Aiming to both quell soaring prices and bring back…
The pros and cons of self-insurance for homeowners
The pros and cons of self-insurance for homeowners

“What do you think about going without homeowners insurance?” It was a question I had been asked before. Tim is a past client who I helped buy a home in Shingle Springs several years ago. He told me when he first purchased the home State…
District 1 Town Hall Offers Advice on Navigating Fire Insurance Crisis
District 1 Town Hall Offers Advice on Navigating Fire Insurance Crisis

If you are dropped from your fire insurance, ask questions and find out why, a national consumer advocate advised attendees at the District 1 Town Hall in Nevada City Tuesday. Amy Bach, co-founder of United Policyholders, also advised finding out your risk score (similar to…
California implements plan to speed up reviews of insurance price increases backed by Newsom
California implements plan to speed up reviews of insurance price increases backed by Newsom

Insurance Commissioner Ricardo Lara bypassed the Legislature on Friday to implement a plan to speed up California’s review of price increases for home and automobile coverage. The proposal, which stalled for months after it was hastily championed by Gov. Gavin Newsom, is meant to soothe…
Santa Rosa fire to host wildfire preparedness resource fair
Santa Rosa fire to host wildfire preparedness resource fair

The fair is from 10 a.m. to 2 p.m. Saturday at the Finley Park Community Center. The Santa Rosa Fire Department and other fire experts will provide free tools and advice for wildfire preparation this weekend during a resource fair. From 10 a.m. to 2 p.m.…
Home insurance canceled in Berkeley? Here’s what to do
Home insurance canceled in Berkeley? Here’s what to do

If you own a house in the Berkeley Hills, you’ve probably gotten one already or are dreading the day it will arrive in your mail: a notice that your home insurance provider will not renew your policy. Insurers are increasingly pulling away from writing policies…
Exclusive: Can California’s FAIR Plan handle a huge wildfire? Here’s what insurer’s president says
Exclusive: Can California’s FAIR Plan handle a huge wildfire? Here’s what insurer’s president says

How much money does California’s FAIR Plan have available to pay insurance claims if a huge wildfire were to cause billions of dollars in damage to homes and businesses? In an exclusive interview with the Chronicle, FAIR Plan President Victoria Roach for the first time…
Allstate in midst of requesting 34% insurance rate hike
Allstate in midst of requesting 34% insurance rate hike

Allstate has asked the state to approve an average 34.1% homeowners insurance rate hike for this year, the Department of Insurance confirmed Thursday. The rate hike request, filed in April 2023, was initially for 39.6%. But Consumer Watchdog, a Santa Monica-based consumer advocacy group, petitioned…
Is this the solution to California’s soaring insurance price due to wildfire risk?
Is this the solution to California’s soaring insurance price due to wildfire risk?

In the past several years, homeowners across the state have been either burdened with extremely high insurance premiums or have struggled to find coverage at all. Wildfires have sent California’s homeowners insurance market into crisis and the situation is only getting worse. So far, 2024…
Home insurance experts say changes coming for California’s insurance crisis — with key tips for consumers
Home insurance experts say changes coming for California’s insurance crisis — with key tips for consumers

LOS ANGELES, July 29, 2024 /PRNewswire/ — Important regulatory updates, coming by end of year, plan to provide homeowners insurance options to consumers, according to a panel discussion this week hosted by the Center for California Real Estate. Panelists offered important tips on specific actions…
Home insurance experts say changes coming for California’s insurance crisis — with key tips for consumers
Home insurance experts say changes coming for California’s insurance crisis — with key tips for consumers

Important regulatory updates, coming by end of year, plan to provide homeowners insurance options to consumers, according to a panel discussion this week hosted by the Center for California Real Estate. Panelists offered important tips on specific actions to take now to help better protect…
Is this the solution to California’s soaring insurance price due to wildfire risk?
Is this the solution to California’s soaring insurance price due to wildfire risk?

In the past several years, homeowners across the state have been either burdened with extremely high insurance premiums or have struggled to find coverage at all. Wildfires have sent California’s homeowners insurance market into crisis and the situation is only getting worse. So far, 2024…
California’s last-resort fire insurance could get big commercial coverage boost, home ‘hardening’ discount
California’s last-resort fire insurance could get big commercial coverage boost, home ‘hardening’ discount

Giving real estate agents a heads up two days before, California Insurance Commissioner Ricardo Lara announced Friday more upgrades to the state’s insurer of last resort to address significant ongoing coverage challenges for owners of homes and businesses in fire-risk areas. Read more.
Is this the solution to California’s soaring insurance prices due to wildfire risk?
Is this the solution to California’s soaring insurance prices due to wildfire risk?

In the past several years, homeowners across the state have been either burdened with extremely high insurance premiums or have struggled to find coverage at all. Wildfires have sent California’s homeowners insurance market into crisis and the situation is only getting worse. So far, 2024…
California insurance commissioner has plan for home market “crisis”
California insurance commissioner has plan for home market “crisis”

Ricardo Lara tells agents reform is coming with “relief” for buyers seeking coverage California Insurance Commissioner Ricardo Lara did not mince words when speaking at a Realtor event this week on the difficulties facing homeowners in the wake of major pullbacks by State Farm, Allstate…