WRAP

For decades, people have dutifully paid their insurance premiums, trusting that when disaster strikes, their insurance companies would stand by them. However, recent decisions by major insurers to abandon homeowners, renters and businesses across California, including in San Diego County, have shattered this trust. This…

Mere months after its last rate increases went into effect, California’s largest insurance provider is asking for another huge hike. Earlier this week, State Farm’s California subsidiary submitted a request to the Department of Insurance to raise its rates by an average of 30% for…

Insurance prices continue to rise in the state, even as some lose their coverage despite working to keep areas safer from wildfires The latest hike request coming from insurance companies comes from State Farm, which earlier this week asked the California Department of Insurance for…

Americans are increasingly dropping their homeowner insurance policies or falling behind on payments amid high living costs and rising coverage premiums. Read more.

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

I attended the May 15 workshop in Scotts Valley on home insurance, hoping I could find a way to lower my State Farm premium, which has jumped from $1,000 a year before the CZU wildfire in Boulder Creek to $3,290 a year. The panel of…

California plans to close the door on insurance carriers leaving the state by granting many of their rate hike requests, some into the double digits. That’s the plan state officials are banking on to stabilize the California insurance market in an environment where surveys indicate…

Property owners in the Golden State face more insurance rate hikes, some into the double digits, amid ongoing concerns over carriers leaving the state. Despite requests for increases, state officials aim to stabilize the market and prioritize insurance access. California plans to close the door…